Bitcoin Forum

Anyone interested in investing in gold? It's pretty easy to buy gold in the town where I live. If I get ten investors I could pop down to the shop and buy 10g or so. We could keep it for a year, then sell it and split the profit.

I charge 10% as an administrative fee.

If this is not interesting, do you have any other suggestion for a similar operation?

SRON


Ok, this post has been updated.

I will try selling gold instead.

The gold will be sent by mail through recorded delivery. Let me know if you're interested and I will update with more specific info, check with gold shops in this town and so on.

Consider this post market research.

A 10% admin fee for holding gold is ridiculous.  I don't think you will find anyone that will take you up on this offer.

Oh, come on. It's not that bad.

Not that bad?  Space in a Class A depository like Citadel is 0.55% per year and that includes free shipping from APMEX.

0.55% in Class A bonded and insured depository
vs
10% in a anonymous broke kid from the intertubes

hmm that is a hard one.  

Buy from us, skip the middle man? :)

Shameless plug, how about it?

Seriously though, you would probably have better luck just selling the gold here.

The premium on a 10g bar of gold is about 5-6%. Add the 10% "administrative" fee, and the price of gold has to go up 15% to $1978 per oz. (a new record) just to break even.

Buying a 1g bar is even sillier -- the premium is around 20%.

There is a better ways to buy small amounts -- buy shares of a gold ETF. You can buy and sell small amounts with relatively low transaction fees.

The 10% administrative fee from my side has been removed. Perhaps I will add a set fee for each item sent, if this business goes live.

I'm not above groveling or begging either!

Obviously not, this being an unrelated post in the newbie section.  You can definitely count me out of any business you do in the future.

Did someone say shameless plug? Screw the 20% premium and the 10% "administrative" fee. Check out Litecoin Gold Trust on the Litecoin Global Stock Exchange. The fee is only 0.2%.

One money-making scheme after another... You need to stop trying to figure out how to skim money off the top, and figure out how to become productive instead. Be productive and the money will follow.

I don't know, all of bitcoin is a money making scheme really. 

Like mining for gold?

Well, this is not my main business idea, just some market research regarding gold sales.

In order to make a good profit moving metal around you've got to be able to purchase enough from your minter that you get a discount. That discount is what lets you be competitive.

There is profit to be made simply by accepting bitcoin for gold. The problem is, you'll be very lucky to even make 1% on that trade and I don't think the volume is there... then again, if you're willing to take a lower margin you might be able to start a price war with coinabul and end up putting both of you out of business.

  ;)

Whoa, didn't mean to offend. I saw the post crop up on an unrelated search and thought I'd comment. I don't comment on any of our competitors threads; this fellow isn't a competitor, he was offering a different sort of service.

Anyways, you're free to choose who you do business with, let me know if there's anything else that you dislike about our service and we'll work to change it, and perhaps we can win back your business.

Cheers,
-Jon

lets not offend each other on this forum

Good luck on that....

I made a large purchase on your site a few days ago and haven't had any sort of communication since. Please let me know what is going on! The order number is 448.

Hey!

If you sent an email recently to jon@coinabul.com I'll be getting to it shortly.

Otherwise, please send me a PM or an email with more identifying information so I can get you an update!

Thanks,
-Jon

BTC is essentially the digital equivalent of gold due to its scarcity.

Similar, but not equivalent.

I have sent two e-mails, one yesterday and one today, and have received absolutely no correspondence. How hard is it to reply? It's not good business practice to go silent on a transaction for almost two business days.

Cleanerupper: I have feels for you good luck with what is going on.

Coinabul: Not to rub too much pepper in the wound this situation dpesn't look good from my pov...

Thanks. Still nothing and going on three days. This was a large (over $1k) purchase as well.

I've had a fever the last two days. Clearing my inbox shortly. I apologize.