Bitcoin + Precious Metals = Alternative Financial System

via: SilverVigilante
by: SV
July 25, 2012

With silver rangebound, stuck below $28 for quite some time, the Silver Liberation Army must be growing anxious, waiting for their young and enthusiastic demand to be joined by rising prices. As we saw before, when silver ran to $49.80, this price rise will be joined by considerable mainstream interests and then increased demand. Granted, the retail demand will not dry up the physical market. But, paranoid industrial demand – scared that this price run could dry up the supply – will create the feedback loop needed to spell week, if not month, long waits for silver products in the future. But, we’re not quite there yet.

In the meantime, though, as the precious metals continue to consolidate, so should the movement take this time to consolidate itself, and take a look back at how far it has come. Whereas just three years ago gold, silver, platinum and palladium were the only potential candidates for people who wanted to exit the Dallah System, we now have new and exciting options to streamline the process towards an alternative financial system.

One main problem for the SLA when it comes to transacting in silver is payment. Let’s say one wanted a pair of alpalca socks. It would be a pain to send silver through the mail for the socks. That’s why silver, gold, platinum and palladium are not the best medium of exchange for long-distance transactions.  These are obviously important any viable global economy. That’s where bitcoin comes into play. Precious metals are for saving, bitcoin is for transacting…especially over long distances.

The bitcoin platform is decentralized, encrypted and open-sourced. That it is open-sourced is already more than we can say about the global financial system and the Federal Reserve System, shrouded in secrecy as they are. The way bitcoin works is straight forward, as well. As Trace Mayer of How to Vanish has put it:  “Just like you can make telephone calls with Skype, you can send value to people with bitcoins.”

Continue Reading At: SilverVigilante.com

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