Sendgold crowdfunding

Discussion in 'Stocks & Derivatives' started by Radio8tiv, Nov 26, 2019.

  1. Radio8tiv

    Radio8tiv Active Member

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    Not a stock but interesting none the less, has anyone looked into this company? Looks pretty interesting as a concept but not sure if it will take of as a business.
    https://www.birchal.com/company/sendgold/invest

    I may invest just doing some homework first.
     
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  2. willrocks

    willrocks Well-Known Member Silver Stacker

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    Have met CEO. Wouldn't touch it.
     
  3. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    I looked on their sendgold.com site and they seem vague about their fees, and in their "terms of use" they refer to a "Fee Schedule" that doesn't seem to exist? I think I'll be sticking with Perth Mint's "GoldPass" for now.
     
  4. SilverDJ

    SilverDJ Well-Known Member

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    Anyone actually used GoldPass for actual transactions?
    EDIT: Just read that it doesn't link with your existing Perth Mint account. Fail.
     
  5. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    Bought a little just to try it out and had no problems, but haven't tried sending or selling any yet. I think there's no fees to send to other GoldPass account holders in the same country, so it could be handy and used as money if there was more GoldPass users.
     
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  6. scott_reeve

    scott_reeve Active Member

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    There are so many of these type of 'digital gold' apps on the market now, each with little variations on the next.

    Some are real dodgy, often using the hype of blockchain and crypto and 'bonus gold' if you sign up more people (ie. MLM or pyramid type schemes) or buy more shares or certificates in an Offer. KaratGold Coin/KaratBank comes to mind.

    SendGold:

    Funding:


    This round of ‘crowdsourcing’ to raise up to A$750K, which the company says is enough money for about 6-8 months. It also “intends to raise $2m - $6m in the next 6 months from wholesale investors”. I bet there will be a lot more raisings following this. Is Crowdsourcing and management the only source of funding avenues open?

    Gold Bullion Rewards:

    Why? This is what other Digital Gold companies have done to appeal to gold-minded investors as an incentive to become a shareholder. This is like the Government offering a tax deduction if you spent your money a certain way. Would you make the tax deduction purchase if the incentive wasn’t there in the first place? Would people buy into SendGold without these 'bullion rewards'?

    By paying Gold Bullion to new investors its essentially a marketing exercise that diminishes the final amount of money raised. Lets say there were 15 investors putting $50k in each, would mean -$75,000 to be paid out as 'Rewards' or 10% of money raised from this round. Birchel will also get small admin fee and 6% of all money raised from this offer round.

    Pokémon Go copycat game “Gold-Rush”, with ‘real gold rewards’:

    “Instead of capturing game animals, with Gold Rush you capture Gold Bars that are added to your SendGold account. The app combines augmented reality, geo-caching, gold tokenisation and map geo-fencing into what users have called a very simple, exciting, and fun app.”

    Whoopy-do. And how often would these ‘gold rush’ campaigns happen and at what cost?

    I fail to see how all this ‘disrupts’ the “multi-trillion dollar gold market” (their words) & is any better than the truck load of other digital gold type app/companies out there.

    If one does invest in something like this, its essentially a high-risk bet that it will rise above the many other digital gold apps out there and will maintain the markets attention. How many more competitors will emerge in the next few years that might have something 'bigger and better' than this?

    2:16 mark on the YouTube video. I hope that chart on his phone isn't the value of the company over time!
     
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  7. Radio8tiv

    Radio8tiv Active Member

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    Thanks for all the input, looks like I’ll just stick to physical and pmgold etf for now
     
  8. SilverDJ

    SilverDJ Well-Known Member

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    Definite a critical mass adoption issue.
    Is there anything comparable on the global market?
     
  9. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    https://www.news.com.au/finance/mon...t/news-story/6b8c5ee27fef906c3854dc7de7f0c34b

    This popped up in one of my news feeds today. Not my cup of tea but another avenue into PMs.

    Why financial gifts like shares and gold bullion make sense as Christmas gifts
    TOYS are fun and will keep the kids happy for a couple of hours but here are some ideas for Christmas presents that will truly enrich their lives.

    Sophie Elsworth
    News Corp Australia NetworkDECEMBER 11, 20152:59PM
    [​IMG]
    Gold fever: they’re never too young.Source:News Corp Australia

    BUYING a younger family member a financial Christmas gift could avoid the problem of giving them a stack of unwanted presents that end up in the back of a cupboard.

    Instead of wasting money on expensive toys or clothes they quickly grow out of, a financial present is a good way to spend money on children.

    AMP financial planner Mark Borg says buying kids shares at this time of year is particularly popular among grandparents looking to give their loved ones a financial kickstart.

    “Giving them an understanding of the market is a good educational tool and is much better than getting them a PS4 (gaming console) that will result in them wanting a PS6 the next year.”

    Managed funds — a diversified way to invest money in a range of asset classes, i.e. shares, property and bonds — is also another way you can invest money for children.

    “It becomes like a savings plan, they can kick off managed funds with an investment of $1000 and add $100 at any stage,’’ Borg says.

    Children can earn up to $416 a year without paying any tax if the asset is invested in the child’s name.
     

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