Has anyone tried BitGold?

Bullion Baron said:
mr-dead said:
Bitgold scam concerns -

https://bitcointalk.org/index.php?topic=1059057.0
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I doubt it's a scam, I had some email correspondence with Roy (one of the founders) before they launched and he mentioned buying the BitGold domain a few years ago, so it's unlikely he is related to the scammers who once run the site. Also there are some fairly significant investors such as Sprott (company) who've presumably done their due diligence.

The company share price seems very overvalued: http://tsi-blog.com/2015/05/bitgold-great-product-over-priced-stock/

I think they are legit, but for the reasons outlined in my post whinfell linked I just don't think a service like this would be overly useful to the average Gold owner... how many here want the ability to spend their Gold day to day?
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You're absolutely right. But I'm not looking to spend gold for daily grocery,
to me the advantages are the following:

- buy instantly close to spot, any quantity however small
- gold is stored abroad, good complement to the physical I keep with me (still want to buy Kangaroos and lunars)
- If and when I need to move to another country (I'm not a local), I don't have to carry all my physical with me
- convertibility into fiat is nearly immediate - again, any quantity (no problems of liquidity)
- storage and insurance are free

regarding the overvalued share price... which company is not overvalued in the stocks market today? (ok, maybe only miners)
 
Yes, BV charges storage and insurance monthly although their spread is lower.
It looks to me more suitable for traders than for stackers since eventually the monthly cost will eat away your initial transaction savings.

Also if you want to take possession of your physical, BV will send you a nice and liquid 400oz LBMA bar for only 2.5% fee. If you want smaller, the best they can do is 50g for a 7.5% fee.

BG gives you the option of 10g cubes or 1Kg bars for a flat fee of 25$.
 
I don't think zero storage fees for allocated will work out for them as most investors are buy and hold and they will need a lot of trading by those doing it to cover those sitting tight, all depends on the percentage trading vs stacking.
 
bron suchecki said:
I don't think zero storage fees for allocated will work out for them as most investors are buy and hold and they will need a lot of trading by those doing it to cover those sitting tight, all depends on the percentage trading vs stacking.
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Good observation. I believe that their business model bets more on fees made from small purchases of goods rather than from trading of gold itself. I'd say they are more PayPal style, that's why they offer the free debit card linked to gold. They should have called it GoldPal, probably.
 
They have know raised the bonus when you sign up to 0.5g gold!. So if you use this link when creating an account you will now get 0.5g of gold for free. It does not cost anything to create an account or to store gold, and you dont have to buy anything at all.

Just use this link to get there, then create your account and you will get 0.5g gold for free:

Its not every day you can get 0.5g of gold for free. :P
 
It's a ponzi, just give it time and you will see

I'll wait for the day the real metal is back in the money it's self, until then if you don't hold it you don't own it
 
Why do you think its a ponzi? I must say i like the idea as an alternative to "fiat-banks"

Altima, no far from that. :)

Goldpelican, ok!

If anyone is interested and want to try BitGold and get the free gold when signing up, just send me a PM then and youll get the link!
 
swe_silver said:
Why do you think its a ponzi? I must say i like the idea as an alternative to "fiat-banks"

Altima, no far from that. :)

Goldpelican, ok!

If anyone is interested and want to try BitGold and get the free gold when signing up, just send me a PM then and youll get the link!
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Well, I have no qualms if you actually use the website to purchase some gold, but to get people to sign up just so you get the 10g of gold? :lol:

How much gold have you accumulated this way anyway?
 
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