Friday, January 19, 2018

Friday's Thoughts and Other Stuff (BitCoin)

Dear Preppers and Survivalists,

photograph by

I have written off and on about silver and gold, over the last ten years.

My thoughts haven't changed.

So, ... To recap.

First, why would someone sell you and your family the necessities of survival, during an event, when all they have to do is wait for you to die then they will have your family's silver and gold?

Second, silver and gold don't make money. You spend needed cash to buy silver and gold. Money that could be used to purchase investments that will make money, that you can spend on supplies and equipment for your family's preps.

Third, silver and gold are going to cost you money, extra money, for premiums. Plus, how do you know you're not getting ripped off?

Fourth, ... Dang, I forgot. Oh, well

Several years ago, someone said something like, ...

Gold is for Kings and Queens

Silver is for Manufactures and Business Owners

While, ...

Copper is for the working man and woman

Needless to say, these folks were suggesting that folks look into collecting copper coins because silver and gold were very expensive.

History, Again
Now, these folks thought that folks could go through their coins every night and pick out their pennies and nickels.


There are 2.95 grams of copper in every penny minted before 1982 (except for WWII pennies) and 3.75 grams of copper in every nickel (except the WWII nickels).

In other words, right know, a copper penny is worth 2.14 cents and a nickel is worth 4.21 cents. If inflation kicks in these two coins could be 'worth' more than their face value.

Needless to say, it's getting harder and harder to find copper pennies, so some enterprising individuals started selling copper ounces to go with their silver and gold product line.

Rip Off
Currently, silver is selling for $17.31 an ounce and gold is selling for $1341.40 an ounce.

So, ... Buying an ounce of copper for 99 cents seems like a bargain!!!

Until you do the math.

Copper is going for $3.20 a pound. A pound has sixteen ounces, so an ounce of copper should cost 20 cents an ounce.

Or, ...

There are 28.35 grams in an ounce.

So, ...

A penny minted in 1981 or before has 2.95 grams of copper and a nickel has 3.75 grams of copper.

So, ...

It would take 10 pennies to make an ounce of copper or 8 nickels to make an ounce of copper.

So, ...

That, so-called, deal of 99 cents for an ounce of copper isn't such a deal, after all.

Coinflation - United States Coin Values

Everything written above was the result of reading an article about people getting ripped off by buying Bitcoin.

It seems, some enterprising individuals have been minting copper coins with the Bitcoin symbol and selling them for thousands of dollars to unsuspecting people.

Ha, ha, ha. 


I am a reflective thinkers, so I look back at the decisions that I have made in the past. One of them was BitCoin.

Several years ago, a Bitcoin was going for about $10, so a $1000 investment would be worth [($1000/10) x $11790] $1,179,000, today.

Oh, well ; - )

Like anything else, ...

An item is only worth what someone will pay you for it.

Take Beanie Babies.

Years ago, a $5 Bear now costs $50,000

With that said, ... A BitCoin, Ethereum, Litecoin, or other cryptocurrency has all the same problems as any other currency. It's only worth what folks will trade you for it.

Plus, these cryptocurrencies have a technology issue that everyone; but,... survivalists; ignore. They require computers, the internet, and electricity to hold their value.

Get rid of one of these or two of these things and cryptocurrencies are worthless.

Other People
Needless to say, you are reading GSiEP, so you get a decanting opinion.

Peak Prosperity - Jeff Clark: So How Many Ounces of Gold (or Silver) Should You Own?

Relevant Bible Teaching - 50 Things the Bible Says About Money

Lastly, ...
I leave you with a quote, from Herbert Hoover, ...

“We have gold because we cannot trust governments"

Gary North - Why Gold Owners Are Targets of the Government

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