In absolute terms silver is undervalued. The nelson-hunt silver procurement collective is now active. But let's revisit the original motivation for this project. A picture should help with this.
[IMAGE: https://cdn.steemitimages.com/DQma7zu5vicAQW1p789BHsxnzfU2LSeGsxaPjVKhRSYgCWs/Screenshot%202018-06-14%2008.50.15.png]
Ask yourself what is wrong with this picture.
Silver has unusual properties that make it essential for industrial applications (aside from its monetary use):
The most conductive (electric and thermal) metal;
The most reflective metal;
Antimicrobial.
Facebook is valued at over 30x all available silver in the world. I do not use Facebook but from what I can tell the value-add to society FB offers is in centralizing and disseminating individual's personal information to advertising companies. In the process monetizing the actual individual personality of humanity. This is pretty interesting, or at least it would be if it were used for something more productive than selling razor blades and other consumptive goods.
I may never live to see a more gross imbalance in valuation. Efficient markets my ass. Nelson is coming for all of the silver. Hold on to your hats.
Image source: http://www.visualcapitalist.com/worlds-money-markets-one-visualization-2017/
That is a very good point. Concentration of a market goes to the heart of this project.
By facilitating the use of a decentralized and transparent market I believe more efficient price discovery can be achieved. More efficient price discovery = more efficient allocation of resources = greater provision of goods and services = more wealth and prosperity for mankind.
Bitshares is a permission-less platform. You don't need permission from me or anyone else to interact with all it has to offer. The objective of 'nelson-hunt' is to create a community of like-minded people. Just like fans of a sports team will buy tickets together - fans of silver can congregate with each other through bitshares.
If I can be of more help please contact me directly on discord at HonorableJn7#4854
Bitshares has a valuation - about $400,000,000.
https://coinmarketcap.com/currencies/bitshares/
I would like to see that compared to silver and facebook on the image. Anyone who posts that image and a bitshares address will receive one bitSilver.
I was not clear enough. I am looking for something even simpler than this. The market cap of bts is less than 1/28 of silver. So I'm looking to see bts added to the original visual.
I appreciate the effort on this though and because I was less than clear I will send you .25 bitSilver if you send me your address. The rest to come if you can get the image described just above. Make sense?
I consider physical silver the best insurance of all.
I like the generic silver 1 oz. with no premium other the manufacturing cost. I prefer Australian or Canadian silver coin or mini-mintage from GSM.
Also, junk silver, old US dollar or half-dollar coins from 1964 or earlier. The over 100-year old silver coins are great just to look at. They are great to pass down to my grandkids as well.
Some say that. I don't want to engage in speculation. The nelson-hunt project is an attempt to discover this once and for all though.
If you go to the link and scroll down you will see the valuation of gold and comparing that to silver -- well as you say there is something interesting there.
Nelson Hunt as in Nelson of 'Hunt Brothers' you posted about a few days ago?
Fakebook is like a centralized database of personal information where you give partial to complete rights of the data (you input into their servers) to them. Once you look at the valuation of the company to the service it provides you realize that it is market a anomaly. It virtually provides nothing of value to its users but earns far more than traditional social interaction service providers like UPS or telephone companies.
It's unreasonable valuation also comes from the fact that Facebook makes its users indirectly work for them without having to pay them.
Whereas silver has dual use - Store of wealth and noble metal that is of industrial (electronics, medical, scientific) use.
Yes. Exactly. The most powerful force in the world is incentives. You keyed in on a huge point in fact - Facebook leverages humanity's time/life to generating value for itself and shareholders.
The 'nelson-hunt' collective is for people who want to support this experiment. https://steemit.com/silver/@john-robert/nelson-lives
Don't put too much stock into the connection between the real-world price and the bts-silver price at this point in time. This is the early innings. At the moment the bts-silver has little attention so it is not an effective comparison. This project will generate more interest and more trading activity.
The long term goal is to have bts-silver trading volume more active than the off-chain centralized paper markets. Then I would expect the exchange ratios to track more tightly.
Tangential question for you @john-robert: I want to buy bitSILVER on margin on bitshares but still aren't familiar with buying on margin. If I buy with X5 BTS backing and bitSILVER's value goes up X50, I make money and don't get margin called, right? Is the only way I get margin called is if the current value of BTS goes down to ~$.035?
We see manipulation every day, including this morning when the market opened for trading. Silver gaped up 0.33, but was beaten down with UN-ending paper shorts. The thing I see lately, it takes more volume of short to knock down the price. Each attempt has less effect as the price returns either immediately or within a few days. When the shorts have to buy back their shares, watch out on the other side as there may be no bid, on the sell side.
