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1  Economy / Goods / Re: Silver and Gold SAVINGS PLAN (aka GOLD IRA) on: December 02, 2011, 01:09:29 PM
The checkout problem was b0rken yesterday, fixed that.
Thanks for pointing this out.

Go back on shopping, kids!

2  Economy / Goods / Re: Silver and Gold SAVINGS PLAN (aka GOLD IRA) on: November 28, 2011, 02:04:27 PM
[edited from gold being prohibited]


I can ship to the US and Canada.
However, only up to 500g and only insured up to 500.
Customs and import taxes (if applicable) are your concern.
I will always include a shipping slip detailing the contents AND the value (in BTC).

The CPB (customs and brder protection) states that there are NO duties for importing bullion right here.

If you want to order more than 500 worth of stuff, have it shipped to the EU somewhere and bring it over with a friend or so.

3  Economy / Marketplace / Re: BitCoinCommodites RELAUNCH: 15% off 1g BITCOIN !!! on: November 28, 2011, 02:04:02 PM
Please be advised that for US and Canada, insurance is available only up to a total value of 500. Please shop accordingly.

If you exceed this quota, any and all insurance will become void (which is NOT my invention, it's the postal services').

We apologize that overseas customers this will be restriced in their selection.
However little sense this makes, it is not up to us.

Furthermore, any relations regarding customs are within the responsibility of the customer.
We will include a shipping slip declaring the contents of the delivery.




To show our regret, there will be  a CHRISTMAS special:

Up until Dec 24th, there will be 10% OFF all .999 silver Bitcoins!
4  Economy / Goods / Re: Silver and Gold SAVINGS PLAN (aka GOLD IRA) on: November 22, 2011, 08:28:11 PM
i like the idea but the shipping cost can make this unprofitable ...

depends on

a) where you are
b) how much you want sent every how long :-D

so, any takers?

:-D

5  Economy / Goods / Re: Silver and Gold SAVINGS PLAN (aka GOLD IRA) on: November 21, 2011, 08:35:21 PM
I'd throw 5GH/s at a pool that paid out in silver/gold/commodities. Frankly, I find the entire process of buying commodities via Bitcoin to be awkward and weird, and would much rather just be sent a silver coin or a gold coin every X amount of BTC.

I'm unique, though, and others might not feel that way. But it'd be a unique, easy, straightforward way to "hedge my bets" with the BTC I'm churning out.

that's kind of what I am proposing.
only what I require of those who are interested, until a pool sets this up, is that the payments come directly from them.

so maybe make an account at some pool, contact me, get a distinct adress, set those GH/s sending to that...
and VOILA you'll have yourself some coins... :-D



Hmmm... that is an idea, yeah. We could also work something out to streamline shipping and the "best" coins; I don't want "pretty" coins, I don't want "neat" coins, I just want to maximize my silver/gold per BTC.

Let me mull that one over, I'll probably be contacting you. It'd make it simple enough to do, just divert some of my rigs over to a PPS pool, direct the coins to you, and voila.... silver/gold.


the cheapest i can offer is, as pointed out, austrian harmonies, mint from the press. won't get cheaper than that.
we could do shipping every 3 months or so. well, think about it. you'll be my test customer then.

:-D
6  Economy / Goods / Re: Silver and Gold SAVINGS PLAN (aka GOLD IRA) on: November 21, 2011, 08:25:31 PM
I'd throw 5GH/s at a pool that paid out in silver/gold/commodities. Frankly, I find the entire process of buying commodities via Bitcoin to be awkward and weird, and would much rather just be sent a silver coin or a gold coin every X amount of BTC.

I'm unique, though, and others might not feel that way. But it'd be a unique, easy, straightforward way to "hedge my bets" with the BTC I'm churning out.

that's kind of what I am proposing.
only what I require of those who are interested, until a pool sets this up, is that the payments come directly from them.

so maybe make an account at some pool, contact me, get a distinct adress, set those GH/s sending to that...
and VOILA you'll have yourself some coins... :-D

7  Economy / Goods / Re: Silver and Gold SAVINGS PLAN (aka GOLD IRA) on: November 21, 2011, 10:40:03 AM
A problem with this that I see (as a BTC->silver person) is that it doesn't, and can't really, take into account the BTC->$currency ratio.  By which I mean, today, the low in BTC->USD is 1BTC->2USD, and that's not within what I'm willing to trade on.

Well, I had customers from where the BTC was 10$ and they said "the BTC will rise, and gold will fall".
The other way around! What I mean: You never know. Feel free to hold on to your BTC and come by my shop at 20$ :-D

I understand your concern. However, noone that buys metals can predict the USD/Metals ratio^^

Really, if you have a reasonable amount of BTC to save up from and do so over a period of time, the average price effect SHOULD work out in your favor.
8  Economy / Goods / Re: Silver and Gold SAVINGS PLAN (aka GOLD IRA) on: November 18, 2011, 08:27:38 PM
It's a good idea, but should be implemented by the pool. Otherwise, you're basically operating a bitcoin bank and we all know how that story ends. I know I personally have no interest in holding onto other people's bitcoins. I'd rather they just paid me when they had the funds and were ready to order to avoid all the headaches of running a bank.

Hi, and thanks for your input.

The amount of BTC I am holding at each given time is minimal - as soon as a coin/bar can be bought by the savings plan, the BTC will be transferred from to my own personal (the store's) wallet, the metals are from that point on property of the customer.

Each customer will get their own adress and wallet, even if my payment processor gets hacked, the intruders will have to rob every wallet individually.

The reason I  am posting this plan is to gauge interest in providing this. If a pool were to set this up via the two of us, fine - but I'd rather be in control of most of the process. If I cannot tell the users' balances, I am not able to get them their stuff at the moment the price is right. I cannot estimate what kind of inventory needs to be restocked beforehand, etc etc.



9  Bitcoin / Pools / Re: [1000 GH/s] Slush's Pool (mining.bitcoin.cz); Pool back in action! on: November 18, 2011, 06:21:28 PM
If anything becomes of the "mine for gold" could we also impliment "mine for silver"?

Silver would be a very cool idea if this gets implemented  Smiley

I agree.


I started a thread outlining it, but so far: no response.

10  Economy / Goods / Re: Silver and Gold SAVINGS PLAN (aka GOLD IRA) on: November 18, 2011, 06:20:34 PM
slight bump for the weekend.
if the response stays this way, it probably won't happen.
11  Economy / Speculation / Re: Someone just took a gigantic dump. on: November 17, 2011, 11:48:55 AM
someone check activity on bitcoinica during these times?
12  Other / Beginners & Help / Re: Bitcoin Businesses and Developers, Let's Get Started! on: November 17, 2011, 08:33:10 AM
I operate a gold/silver store that accepts bitcoins, it's called BitCoinCommodities.

I am currently trying to assess the need / viability for a silver "savings plan" (kinda like a GOLD IRA).
If the offer should be accepted by critical number of people, I'd like to automate the process.

Feel free to chime in [ here ], as well.

Cheers

Dennis
13  Economy / Goods / Silver and Gold SAVINGS PLAN (aka GOLD IRA) on: November 17, 2011, 07:20:45 AM
Hi,

one certain pool operator has asked his members if they would like to be paid out in Silver or Gold, rather than BTC.
Only a few people have voted so far.
However, as a Silver and Gold dealer I am of course interested in the idea, and I am currently thinking this through very thoroughly.

There's half a gazillion things to consider - most and bevore all: Is there enough interest to make this viable?

I got about this far:

The whole process would have to be initiated manually for now - if this picks up, there will be a way to automate it.

I would propose that those who are interested in saving up to gold or silver contact me via PM, this is how I envision it for the time being:

you contact me with the following info:
  • name / adress / email
  • what you want to save up to  
  • your savings interval

I will provide you with a payment adress you can send the BTC to. These are stored with my payment provider.

The savings interval is of importance only if you're saving for, say, Gold - and you don't want to by gram by grmm, but only every 10 or 20 grams. Else, I will check every working day if one of the desired objects is in range and "buy" it for you. I advise harmonies, since they're most easy to buy and liquidate - they also sport the lowest premium, but feel free to chose whatever you want.
Also, if you're, say, a big miner and are pointing a large amount of GH/s (or dividends from glbse.com) my way in terms of BTC, we can also arrange that I only buy every 1st of the month or so.

The prices on my website are updated every minute. I am not yet able to set an alarm for buying, so for now, we will have to to with me checking the price against your balance once a day (I will probably check more often than that, just for the fun of it).

I will then transfer BTC according to the price of the item(s) from "your" wallet adress to mine, so you can watch the process on blockexplorer. I will set aside the item(s) physically and store them seperately from the rest of my inventory.

Should you decide to cash out, contact me and I will provide you with shipping and insurance information (it might be that you may have to buy insurance and additional shipping, depending on the value of the objects and your location). If you have a larger load to deliver, I will custom tailor shipping for you, as well.

Tax and customs are, as always, entirely your concern :-D


If you are in the US or CA, I am in neegotiations with a partner in crime over there to minimize shipping cost, but it's gonna be a while for that to be set up.

Please do not hesitate to ask any questions!

Cheers

Dennis of BitCoinCommodities.com


So that's me bouncing this right into the community. Anyone interested?
14  Other / Meta / Re: joining of profiles on: November 16, 2011, 01:12:57 PM
Yes, that would be most appreciated.

Cheers
Dennis
15  Bitcoin / Pools / Re: [1000 GH/s] Slush's Pool (mining.bitcoin.cz); Pool back in action! on: November 16, 2011, 07:56:47 AM
If anything becomes of the "mine for gold" could we also impliment "mine for silver"?



Silver would be a very cool idea if this gets implemented  Smiley

Hi,

I am currently thinking this through very thoroughly.
There's half a gazillion things to consider - most and bevore all: Is there enough interest to make this viable?

I would propose that those who are interested in saving up to gold or silver contact me via PM - the whole process would have to be initiated manually. This is how I envision it for the time being:

you contact me with the following info:
  • name / adress / email
  • what you want to save up to 
  • your savings interval

I will provide you with a payment adress you can send the BTC to. These are stored with my payment provider.

The savings interval is of importance only if you're saving for, say, Gold - and you don't want to by gramm by gramm, but only every 10 or 20 grams. Else, I will check every working day if one of the desired objects is in range and "buy" it for you. I advise harmonies, since they're most easy to buy and liquidate and sport the lowest premium, but feel free to chose whatever you want.
The prices on my website are updated every minute. I am not yet able to set an alarm for buying, so for now, we will have to to with me checking the price against your balance once a day (I will probably check more often than that, just for the fun of it).

I will then transfer BTC according to the price of the item(s) from "your" wallet adress to mine, so you can watch the process on blockexplorer. I will set aside the item(s) physically and store them seperately from the rest of my inventory.

Should you decide to cash out, contact me and I will provide you with shipping and insurance information (it might be that you may have to buy insurance and additional shipping, depending on the value of the objects and your location).

Tax and customs are, as always, entirely your concern :-D


So that's me bouncing this right into the community. Anyone interested?
16  Bitcoin / Pools / Re: [1000 GH/s] Slush's Pool (mining.bitcoin.cz); Pool back in action! on: November 14, 2011, 07:58:47 AM
So is the plan for gold "mining" still on ? I think it will decrease BTC value.

I think it has just as much potential to cause a rise in price.  For example, lets say someone usually cashes out all of his bitcoins that he receives from the pool everyday.  Then that person decides he wants a gold coin so he sets his account to pay out gold.  He's now saving up bitcoins until he has enough for the coin.  Could you imagine if every miner on slush's pool suddenly started saving up 600+ bitcoins?  That would be very bullish for the bitcoin price.

That would be great! But I don't think that too much people will do this...

well, if "only" a dozen or so... depends on how big they are with their mining operations.
A 1GH/s miner would probably need a cuple of days to save up to a coin.
Someone with 30+GH/s wouldnt. It all depends.
17  Bitcoin / Pools / Re: [1000 GH/s] Slush's Pool (mining.bitcoin.cz); Pool back in action! on: November 09, 2011, 10:52:57 PM
bulanula: Firstly, there's no obvious reason why it should do anything with price. People who want to cash out will cash out with or without gold coins offer. And I was only asking for possible demand - it does not mean I'll implement it second day, for various reason.

I still don't think that 30% of pool users will really use this payout method, because most of them don't realize how much cost of "single coin every week" will cost them.

bitcoinmint and me are bouncing some ideas off each other, lets see where that takes us.
might be that we can present you with some interesting propositions - the man has an open mind and hes an entrepreneur. only good can come from this.
18  Bitcoin / Pools / Re: [1000 GH/s] Slush's Pool (mining.bitcoin.cz); Pool back in action! on: November 09, 2011, 07:28:08 AM
so, still no takers on the gold/silver thing?

i am imagining it like that:

miners would register a bitcoin adress related to an account on my site.
they could chose the product they'd like to accumulate (choices may include 1g gold bars, krugerrands, 1g silver bars, 1oz silver coins... whatever).
so every time the actual factual price of the product is reached, the system buys one for them.
if they would like to have their stuff shipped, the just tell the system and the moment the calculated postage is reached, voila, stuff is sent on its way.

is that kinda how you wanted it to work out?



I'm interested but how much would the shipping be for the 100x1g silver bars to canada from your location?

And of course it will be couple years before I can pay for it at these rates too ;(



Shipping would be 8,50.
I imagine that, if I were to be slush-distributor for continental Europe, I could shop at better prices (due to the amount) and shave a little off the top. I'd have to really calculate that thoroughly.


A mining pool considering offering silver as a payout method?  Let me know if you need a North American supplier/distributor slush.

That would make sense, all in all. Not only regarding shipping costs, but also because in the EU, silver coins and bars are subject to  VAT (19% on bars, 7% on coins on average).

Thus, for European miners, it would only make sense to go for gold bars/coins or (at the most) for silver coins.

One would also have to take into account the frequency of payouts... sending one coin every month or sending 10 once a year makes a difference on the shipping! I try to keep shipping as reasonable as I can - but I guess it makes more sense to bundle items.

Seeing that pricewiese, bitcoinmint.US and I am not that far apart, I am even able to beat him for coins in quantities >3 (thats without insurance, however)

19  Bitcoin / Pools / Re: [1000 GH/s] Slush's Pool (mining.bitcoin.cz); Pool back in action! on: November 08, 2011, 07:53:26 PM
so, still no takers on the gold/silver thing?

i am imagining it like that:

miners would register a bitcoin adress related to an account on my site.
they could chose the product they'd like to accumulate (choices may include 1g gold bars, krugerrands, 1g silver bars, 1oz silver coins... whatever).
so every time the actual factual price of the product is reached, the system buys one for them.
if they would like to have their stuff shipped, the just tell the system and the moment the calculated postage is reached, voila, stuff is sent on its way.

is that kinda how you wanted it to work out?

20  Bitcoin / Pools / Re: [900 GH/s] Slush's Pool (mining.bitcoin.cz); Pool back in action! on: November 08, 2011, 02:58:44 PM
mining for gold/silver does sound interesting. 
I've been doing this since the very very beginning of my mining exploits, back with slush's pool in actual fact.

Every bitcoin I've mined has been spent on silver and gold coins.

Having a direct link from the pool would be a compelling reason to join back up here, but of course, actual rates and types of gold/silver coin would be an issue. Does slush *really* want to get into the bullion dealing business?

BTW - for those seeking gold, nice small bullion-grade coins are the Mexican 2 and 2.5 peso coins. At current rates, they're costing me around 40-50 BTC each, which is achievable with a smallish mining setup every week. Seeing a gold coin appear in the post every week makes this mad enterprise worth it.

Whether the constant extraction of value from the BTC economy to precious metal bullion is good for the Bitcoin economy is a question best moved to the Economy forum... (the answer is no, it's not that good for all miners to be doing this). For that reason alone, it'd probably be best for the pools to get out of the 'extract value' business and let miners pay other Bitcoin-accepting merchants for their bullion, as it increases the BTC velocity and viability of the currency. If all miners simply cash out from the pool directly, then the value of mining will crash very quickly. All sellers and no buyers - this is a very serious issue BTW.

Where are you getting the coins from mate, since I am in the UK too. Thanks !

This is the same with NMC -> automatically being to BTC. Price will crash soon. We  need to unload the BTC for $$$ with precision. It is a bit like quantitative easing Smiley
It's not really like QE but I won't put my fixed income geek hat on and bore you to death with shifting the maturity profile of outstanding sovereign debt in order to alter the duration and hopefully reduce the yield of short-term debt, allowing cheaper financing for banks at the cost of 'kicking the can' and stoking inflation. Oooops, just have. Sorry.

NMC to BTC is an almost certain crash because of exactly what I said (and you re-iterated) - without a thriving *trade* using the currency, and just sellers cashing out for other currencies, you've effectively got a trading pit full of sellers and no buyers. The only buyers would be speculators, and I can't see many reasons to speculate on NMC with a constantly-fading value unless you can naked short them, which should be illegal. Regular shorts require borrowing the NMC to begin with, creating a buyer and reducing the profit in the short (in a simple market like NMC).

I'm still concerned about the miners-offloading issue with BTC, but there is at least a regular *trade* in BTC and people buying the currency to use in purchasing things they don't want recorded on credit cards / bank accounts (even legal stuff, like gold, causes nervousness - as slush said, European nations are tightening down on personal bullion purchases - requiring reporting to govt - and the USA, of course, has the spectre of Roosevelt and the 1933 gold confiscation... I'd like to see Obama try that *these* days given that American gold-bugs tend to be long on copper and lead Wink too).

Equally, if we spend our mined BTC at a BTC-accepting bullion trader, then there's *some* hope that this will keep the BTC circulating. I know that most bullion traders accept BTC only if they can cash it out immediately... which is just passing the buck, really - but maybe sometimes the trader may keep a 'float' of BTC to spend on items elsewhere. Regardless, it's better to mine your BTC, receive BTC, then spend them in the BTC economy. Having pool operators directly converting mined BTC into other currencies / PMs would be disastrous for the BTC economy IMO - it'd put enormous downward pressure on the BTC rate.


Finance-geek hat off - I use Mick Bruce of MJB Monetary Metals. I've been buying from him since *before* bitcoin, using GBP. He's honest and reliable. But the recent issue with Intersango means he stopped accepting BTC last week - I've got a load burning a hole in my pocket so I ought to contact him to see if anything has changed... Next day UK postage, he's never let me down.

I'm being nice here - didn't want to give this info out on open forum as he only has a limited stock and *I* want it available for *me* to buy with my bitcoins. Cheesy I have no affiliation with Mick - just a satisfied regular customer.

I have dealt with Mick Bruce as well (and will in the future) and can second all you have said about him.
I would offer my services as regards to distributing gold and silver to miners.
If I could agree on, say, austrian harmonies or 1g gold bars (so i can standardize my restocking for better prices)...?

Shipping to continental Europe is ~5 for registered mail, one would have to take this into account. I would also have to remodel my shop as to "auto-trigger" purchases^^

I am turning quite some of the BTC I make around since I do have to restock - but I am also an avid SPENDER of bitcoin (airVPN, bitcointorrentz, and playing on GLBSE)...

If there really is interest in this, I'm game.

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