Cautious approach is best - maybe wait and see how others report interacting with us before proceeding.
Ok,this helps me understand the model a little better too.so you,re basically offering an escrow service.but what are the protections against this company taking heaps of payments in escrow,then going bankrupt,stuff like that?
Yes but who is us.most companies have a checkable staff profile.who runs this,what are their credentials etc.
It's not going to work . Others have tried the same thing & have fallen away . It's meant to be a simple process & your making it harder .
Hey Jamie, quite the oppisite. We dont hold funds in escrow - transactions are decentralised - meaning you and another member deal with one another directly. You can search any listed Australian company with a web presence here: https://whois.auda.org.au/ I can agree the odds are not in our favour. Regarding simplicity - we've done our best to make the process as pain free as possible, but if you happen to try us out and think of ways we can improve then please provide feedback.
I assume you're referring to my silver stackers trader history? Yes I registered in 2018, and yes my mentality has been to simply buy and hold. Given gold in AUD just breached an all time high (still heading higher - literally as we speak), I reckon I made the right call.
I tried to do an abn search based on the name.couldn,t find it.maybe i mispelt it.so i still don,t get it.if you,re not an escrow service.what services do you offer besides advertising.can do that for free in most places?
I've just walked away from the industry, and a few more people are doing the same thing. What makes your venture any better ? The way you're going around it is way too complex.
Yes the bullion industry is tough. Small margins, price volatility, compliance and legal requirements - its no wonder many dealers dont make it. I hope whatever it is you focus your energy on now works out. Regarding complexity. Here's the thing - the platform can be as simple or as complex as you want it to be. Just want to buy a silver coin? You can do that by browsing the store. Want to create a vendor account that potentially allows you to extract as much value form the bullion you own? Yes there are more hoops to jump through - but I think its worth it.
In point 2, you talked about transparency. Can you post the names of the people involved in the business, please? Or at least who you are if the others on your team do not want to be identified? There's no info on the site.
Whilst I'm in no position to endorse MyBullion, their PM buy back prices are solid for a dealer and no doubt someone from this forum based in Melb will look to do a F2F sale to MyBullion and I hope they post up their experience in dealing with them. Old mate is having a crack at the industry and as they are an unknown quantity, members are naturally cautious....but if legit word of mouth will spread and hopefully their business venture will flourish....if other, then the market tides will wash them out to sea..pretty simple. Best of luck with the venture @Nino
I suggest the myBullion guys attend the next Melbourne Meetup - Scheduled for December 3rd.... (Just found out)
Great idea - I'll be there. Can you PM or link me the details? Happy to do a quick presentation and Q&A if the organisers allow it.
OK let me wrap things up. I'm acutely aware this forum's primary purpose is trading. Not business promo. Thank you to the admin team for letting me start this thread. myBullion is keen to become a site sponser when possible. Unless anyone has a pressing question that will help clarify things more, please let this thread RIP.
I asked my pressing question - will you identify yourself and members of the team? Can you at least answer the question with a no and why if you're not going to? Ignoring my question then ending the thread is weird.
Hey wolfstack, I'm not ignoring you. Its just that I feel I've answered that question in multiple ways now: 1. Earlier I wrote, "You can search any listed Australian company with a web presence here: https://whois.auda.org.au/ " I just checked a minute ago, and it lists the details I think you're after. Let me know if your having trouble accessing it. 2. I've offered to attend the next Melbourne meetup. Any chance you can make it? You can ask me the hard hitting questions in person. 3. You can view my stackers trading history for even more info. Cheers Nino
