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Comment by TrainedMonkey | Hacker News Reader

> But an "asset" to lose 30% of its value in a day... Wow!

When prices are determined by speculation it do be do like that.

I bought back when it was pre-$15/oz. Though, for awhile it was fun to think I had $100,000 in my floor safe. But it's not a speculative investment, that's my "bribe my family's way out of the country" money.

If anything, I hope it falls low again, I haven't been buying any junk silver the last few years and I should have been doing that.

Strongly recommend not discussing specific amounts and locations online

People who buy gold are strangely careless, I have workmate who has bought gold with his savings and probably everyone who has spend more than 5 minutes in his presence knows about it.

Aren't Bitcoin (similar mindset) people the same way?

the problem, is physical security.

even if you have the best stash spot for metals, lipping off and flexing, in public about high end stuff is how you get tailed, and raided.

You think Apple's stock isn't also driven by speculation, just like any other stock?

No. Apple PE ~33 implies ~14% EPS growth over the next 10 years, seems achievable. YOY Apple is ~10% and silver is over 270%.

You offer explanations and excuses similar to those of the precious metal folks. The issue is that amateurs can now easily buy and sell on the markets - otherwise neither Apple nor silver would be valued as much as they are... were.

I can see that you are committed to your current level of understanding.

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