yeah, for the short term both have been moving down together.  watch closely for when that relationship changes.  i think gold and silver are about to go off the cliff while Bitcoin is coiling in anticipation for the next ramp.

Gold up, Cypherdoc collapsing.

Look at the text I just received from a good friend.  He's a young dentist in Vancouver.



Now the question is "how do I answer him?"  [This is always a problem for me].  If I recommend cavirtex, then he must persevere through the time-consuming KYC/AML procedure, link his bank account, and then still wait a week for the first transfer to clear  ....  Telling him about 2FA on top of this will be too much [I wish cavirtex disabled bitcoin withdrawals by default unless 2FA was enabled and verified].  

I could send him over to the bitcoin ATM which is fast and easy [although unsuitable for large purchases], but then I would feel personally responsible to set him up properly with a wallet on his phone, a back-up of the seed, and a cold-storage system.  

I wish we had an exchange-tradeable product like GLD but with bitcoin as the underlying…

you can trade GLD without doin KYC/AML ?

you could sell him some yourself, but honestly I recommend the full cavirtex experience, sure it takes a few days to get the paperwork cleared, but once you're set... its well worth the pain.

and, its really not that hard... poeple just need a swift kick in the ass sometimes.

 I thought the exchange downtown had some reps there to help you with the wallets etc? Kind of like bank clerks.

that doesn't sound too wise.  Bitcoin is meant to encourage personal responsibility. plus it will make him learn and appreciate what Bitcoin is all about. 

speculation on the price is somewhat dependent on one being able to hold onto one's coins w/o getting scammed.

This is what I mean when I say that questions like this from my friends and acquaintances are always difficult for me to answer.  It's a chicken and egg problem.  Once you're a bitcoin holder, you're more eager to learn about bitcoin security and blockchain technology.  But if the process is too difficult, and if you (think you) just want to speculate on price, then I can see that being bombarded with information about private keys, cold storage, 2FA, etc, etc, could seem like information overload.

This is the trick I use with people like that: I say "If you are not ready to sit down and pay attention to me for half an hour, this is not for you at the moment." It works by activating the opposition reflex.  

ya but cavirtex has better price generally and more volume