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Right time to buy in some Bitcoin

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  @r-frank Bitcoin is a rising Global asset while silver and gold have been and still are the pillars of Global assets. Silver production at this time can not meet demand. All the Gold that has ever been mined exists to day. While over 80% of silver ever mined is lost and unrecoverable. There is stored presently less than 3 months of global consumption. (Excellent summation of global sliver potential http://www.silverseek.com/article/why-future-silver-supply-more-risk-gold ) So with one foot in the past I weekly purchase silver bullion coin and with one foot in the future I weekly purchase bitcoin.

  It's a great time to be alive, life is exciting !

  Maybe we should go mine silver on different planets.

  Posted on August 5, 2014 at 11:46 AM
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• g3ttoboy

  

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  Posted on August 5, 2014 at 11:57 AM
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• CoinAdd1ct

  

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  @r-frank Bitcoin is a rising Global asset while silver and gold have been and still are the pillars of Global assets. Silver production at this time can not meet demand. All the Gold that has ever been mined exists to day. While over 80% of silver ever mined is lost and unrecoverable. There is stored presently less than 3 months of global consumption. (Excellent summation of global sliver potential http://www.silverseek.com/article/why-future-silver-supply-more-risk-gold ) So with one foot in the past I weekly purchase silver bullion coin and with one foot in the future I weekly purchase bitcoin.

  It's a great time to be alive, life is exciting !

  Still love silver, but I have switched to only buying bitcoin at this time. The likelihood of silver doubling in price in the next year or two seems small compared to the likelihood of bitcoin doing so. Never know though, the silver market is still highly suppressed and manipulated.

  Posted on August 5, 2014 at 5:02 PM
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• Myshadow

  

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  @rob

  @sora I lost $900 worth of BTC when I lost my .dat file, now that was a kick in the pants since I bought them at the $100 level :(

  How'd that happen? I figure it might be a lesson for the rest of us.

  Can happen very easily... one thing i learnt the hard way was NEVER copy your wallet.dat whilst the client is running and think it suffices as backup... it doesn't.

  after learning the hard way, went with a HD wallet and the seed kept safe offline somewhere :)

  Posted on August 5, 2014 at 5:06 PM
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• Rob

  

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  @myshadow Can happen very easily... one thing i learnt the hard way was NEVER copy your wallet.dat whilst the client is running and think it suffices as backup... it doesn't.

  after learning the hard way, went with a HD wallet and the seed kept safe offline somewhere :)

  I think that's an important lesson! I once heard it recommended to use the backup function on the QT/core client, rather than simply copying the .DAT file. But I can see that especially don't copy the .DAT file while the client is running.

  Curious, do you also do any auto-backup on your system?

  Posted on August 5, 2014 at 5:09 PM
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• Myshadow

  

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  Yeah, the Backup function works well :) i didn't realise the client modifies the .dat file when its running so you can't copy it... almost lost 600LTC... luckily i found an old old backup of it.

  For autobackup I have a scheduled task that copies the encrypted wallet.dat up to google drive every night(after realizing just this wouldn't cut it, i scripted a shutdown of the client and then copy and then startup again).

  But not any more for BTC, Deterministic wallets make backups incredibly easy and keeping up to date wallet files unnecessary.

  I still do the above with a couple of coins though.

  Posted on August 5, 2014 at 5:23 PM
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• wildjo

  

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  By "don't copy while the client is running" do you mean updating? As long as the client is synched and up-to-date, there shouldn't be any issue with using the backup wallet function within the client to save to an external device as a backup, or should there?

  Posted on August 5, 2014 at 5:24 PM
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• Myshadow

  

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  @wildjo By "don't copy while the client is running" do you mean updating? As long as the client is synched and up-to-date, there shouldn't be any issue with using the backup wallet function within the client to save to an external device as a backup, or should there?

  No i don't mean updating, whilst the client is running it pulls the private keys out of the wallet.dat. use the backup function or make sure that the client is closed before copying the .dat file.

  Posted on August 5, 2014 at 5:31 PM
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• cryptoMatic

  

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  I buy every two weeks, ive found it helps curb impulse buys when theres a minor drop

  Posted on August 5, 2014 at 6:15 PM
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• mikerbiker6

  

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  @myshadow luckily i found an old old backup of it.

  What happens when you import an old backup? Do you still have your coins?

  Posted on August 6, 2014 at 3:14 AM
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