"BitGold has no counterparty risk. You own it. It’s yours."
Anytime someone else has their hands on your gold there is counterparty risk.
Also of importance:
"The United States of America is currently not part of the List of Supported Countries."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
That sounds like a familiar business plan. Didn't GoldMoney start that way? Open an account, and holdings based on how many grams you owned...and for awhile there could buy stuff with your grams at various websites? It doesn't look like that's how the company is anymore--maybe all that regulatory stuff that keeps BitGold out of the US is the problem. But I'm sure I saw some eBay auctions, maybe even Witco, offering to take GoldMoney grams back in the day (and before paypal and eBay became so enmeshed). Like the early 2000s time frame. Now GoldMoney looks like a regular gold storage program.
Interesting concept, but is it truly different than any other plan where you have to trust another as a custodian? In this case there is a debit card linked to the account, and you money is in gold instead of dollars/euros/whatevers.
So would you maintain a cash and a phys gold balance? If you buy something is it going to sell just enough gold to cover the cost of what you've purchased?
Seems like a hybrid cross between an ETF and a debit card, with the host making 1% on the additions and the subtractions, and the funds fluctuate with gold spot.
Yikes, like you guys, if I want gold I'll jingle the coins in my hot little hand, if I want to speculate I'll work the ETFs. I personally don't need this thing,
but it seems like a great way to burn the newbies off of metals investing forever
Seems to me that what he is describing with bitgold is taking us back to pre-Nixon; maybe even pre-Johnson era. Use to be that you could exchange the greenback (certificates) for gold or silver if you wanted to. This has much the same ring to it. My guess is that's why the US won't allow it. The whole system is, of course built on trust and that is in short supply these days, for good reason in my opinion. As he says, your best option is to hold your own PM's; second best may be to have a bitgold account if you reside outside of the USA. For world travelers this might make currency exchange almost automatic.
There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt. –John Adams, 1826
just another twist on an "allocated" gold account. Your gold is there until all of a sudden it isn't. Sorta like the disappearing bitcoins.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
While I too respect Saville, he fails to discuss the counterparty risk of an allocated metals account. For that reason, as Mr. Wonderful would say, "I'm out."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
BitGold just became a serious platform for savings and making payments in gold - bought GoldMoney for CAD 51 million.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
As usual, Schiff sounds correct and cohodk sounds like CNBC.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Is Schiff lamenting that he didn't have the wherewithall to follow through on "his great idea". Making excuses for lack of technology?
If given the choice between being a cheerleader and a whiner, I'm choosing cheerleader. >>
And a fine one you are.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
If cheering the United States of America and booing the boo-birds who do nothing but complain about, well, practically everything, is a "cheerleader", particularly this weekend, well then, count me as one too and proud of it
The value of your currency and your metals is not about patriotism and loyalty. It's now a world stage. Outside players have a lot of inside influence. Ignore this at your own peril.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Comments
"BitGold has no counterparty risk. You own it. It’s yours."
Anytime someone else has their hands on your gold there is counterparty risk.
Also of importance:
"The United States of America is currently not part of the List of Supported Countries."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
Interesting concept, but is it truly different than any other plan where you have to trust another as a custodian? In this case there is a debit card linked to the account, and you money is in gold instead of dollars/euros/whatevers.
edited to add:
Link to e-gold entry, and GoldMoney gets a mention partway down
There's always a counterparty risk unless you are your own counterparty. And someone pays to vault it, always.
Seems like a hybrid cross between an ETF and a debit card, with the host making 1% on the additions and the subtractions, and the funds fluctuate with gold spot.
Yikes, like you guys, if I want gold I'll jingle the coins in my hot little hand, if I want to speculate I'll work the ETFs. I personally don't need this thing,
but it seems like a great way to burn the newbies off of metals investing forever
Liberty: Parent of Science & Industry
Knowledge is the enemy of fear
<< <i>Seriously, it's his niece in the story? You don't find this a conflict of interest? >>
He took his niece on a trip. While there he met a guy. What conflict?
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
–John Adams, 1826
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
GLD trades like a stock and moves like gold but it is not gold.
"Bitgold?" Who needs this?
If something has to be explained, I don't need it.
Steve Saville's view of bitgold
<< <i>One of the more level-headed market analysts out there.
Steve Saville's view of bitgold >>
While I too respect Saville, he fails to discuss the counterparty risk of an allocated metals account. For that reason, as Mr. Wonderful would say, "I'm out."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>No thank you... I will hold my gold... Cheers, RickO >>
same here.. fwiw
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Overdate, BestMR, Weather11AM, TDEC1000, Carew4me, BigMarty58, Coinsarefun, Golfer72, UnknownComic, DMarks, JFoot13, ElKevvo, Truthteller, Duxbutt, TwoSides2aCoin, PerryHall, mhammerman, Papabear, Wingsrule, WTCG, MillerJW, Ciccio, zrlevin, dantheman984, tee135, jdimmick, gsa1fan, jmski52, SUMORADA, guitarwes, bstat1020, pitboss, meltdown, Schmitz7, 30AnvZ28, pragmaticgoat, wondercoin & MkMan123
Knowledge is the enemy of fear
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Go team go.
Lmao! !!
Is Schiff lamenting that he didn't have the wherewithall to follow through on "his great idea". Making excuses for lack of technology?
If given the choice between being a cheerleader and a whiner, I'm choosing cheerleader.
Knowledge is the enemy of fear
<< <i>Rah Rah Rah
Go team go.
Lmao! !!
Is Schiff lamenting that he didn't have the wherewithall to follow through on "his great idea". Making excuses for lack of technology?
If given the choice between being a cheerleader and a whiner, I'm choosing cheerleader. >>
And a fine one you are.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
particularly this weekend, well then, count me as one too and proud of it
Liberty: Parent of Science & Industry
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>The value of your currency and your metals is not about patriotism and loyalty. il. >>
And this is why you are always wrong.
Knowledge is the enemy of fear
Text
–John Adams, 1826