Rxd Posted July 10, 2016 Share Posted July 10, 2016 Hi guys, as a subscriber of Peter Schiff i got yesterday introduced to bitgold and i am hooked to say the least. https://www.youtube.com/watch?v=td7K76IzLvo I transfer 50€ (1.241g) i want to see how the master card works. Any experiences here? The ability to buy your groceries and other expenses with a "gold" seems almost unreal. I own physical gold and silver but the ability have gold safely store and use it the short term(and easily) seems like a great ability.... hopefully not much as i will want to keep most of my gold hedging against the great fiat euro. Thanks for the feedback i will give mine as soon as possible! Link to comment Share on other sites More sharing options...
rosencrantz Posted July 11, 2016 Share Posted July 11, 2016 Why would you want to pay with gold that may get more valuable in the future instead with fiat currency?Do you physically own the gold?How do you know that they don't issue fiat gold? Link to comment Share on other sites More sharing options...
Rxd Posted July 11, 2016 Author Share Posted July 11, 2016 Why would you want to pay with gold that may get more valuable in the future instead with fiat currency? Completely agree! The card is another technology one i see great power especially when the end of fiat comes. I have i good amount of savings in fiat that i may have to use (hopefully with a baby coming ) , there have been some news about the state bank that frighten me and with the ECB... how much purchase power have i lost? With the savings in gold and the ability to convert it into fiat i would sleep much better. Do you physically own the gold? And Silver. About 10% of my savings. How do you know that they don't issue fiat gold? I don't. I heard they have 3 party accounting of the gold store on the vaults i will check it out as soon as possible. Link to comment Share on other sites More sharing options...
aviet Posted July 11, 2016 Share Posted July 11, 2016 Thanks for the feedback i will give mine as soon as possible! What are the fees to use this service? I am a customer of Schiff's Euro Pacific Bank and he has had a card that pulls from a gold backed account for some time, but it is too pricey for the average person. Why would you want to pay with gold that may get more valuable in the future instead with fiat currency? Do you physically own the gold? How do you know that they don't issue fiat gold? This is a good point. I know someone who is a professional Bitcoin trader and they spend a lot of money via Bitcoin backed mediums. They do so because they are all in, in Bitcoin. Like yourself, I don't see why you would want to spend gold if you have bought it as an investment, unless you have gone all in on gold. Even if you are all in with gold, you are probably getting paid in fiat, so it would make little sense to do USD -> AU -> USD, because of fees. Link to comment Share on other sites More sharing options...
Rxd Posted July 11, 2016 Author Share Posted July 11, 2016 What are the fees to use this service? I am a customer of Schiff's Euro Pacific Bank and he has had a card that pulls from a gold backed account for some time, but it is too pricey for the average person. This is a good point. I know someone who is a professional Bitcoin trader and they spend a lot of money via Bitcoin backed mediums. They do so because they are all in, in Bitcoin. Like yourself, I don't see why you would want to spend gold if you have bought it as an investment, unless you have gone all in on gold. Even if you are all in with gold, you are probably getting paid in fiat, so it would make little sense to do USD -> AU -> USD, because of fees. I will not use the card for the monthly payments so i wont convert FIAT - AU - FIAT. I realize what i wrote implied i would my mistake. To clarify i wont go all in yet. But i want my savings in gold for the sake of my future family and the ability to convert it to fiat to buy something worth converting. Link to comment Share on other sites More sharing options...
Rxd Posted July 30, 2016 Author Share Posted July 30, 2016 UPDATE: Received my card this past week and have successfully loaded it and used in a small purchase. Just upped my gold holdings with Bitgold and will look forward to the market crashing in the mean time gold rush is in order. Link to comment Share on other sites More sharing options...
Crallask Posted July 30, 2016 Share Posted July 30, 2016 I'm glad to see someone trying to make gold more accessible to the general populace. I want to use this service in the future but I'm currently a crypto-currency wizard. Link to comment Share on other sites More sharing options...
Rxd Posted August 1, 2016 Author Share Posted August 1, 2016 I'm glad to see someone trying to make gold more accessible to the general populace. I want to use this service in the future but I'm currently a crypto-currency wizard. I have also some savings in bitcoin. How has the "magic" of bitcoin doing for you? Link to comment Share on other sites More sharing options...
Crallask Posted August 2, 2016 Share Posted August 2, 2016 I have also some savings in bitcoin. How has the "magic" of bitcoin doing for you? Quite well, I specialize more in alt-platforms though. My best investment rose by a factor of 36 before I cashed out. pretty nice I'd say. Link to comment Share on other sites More sharing options...
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