Bitgold

[gold123]

Check out Bitgold. It has all the same elements as Bitcoin but Bitgold is backed with a physical asset in gold. Check out their website here- https://www.bitgold.com , Additional info here- https://www.youtube.com/watch?v=TqjRPzVLYec

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[Argwai96]

Yeah except this coin has some major fatal flaws. One if they ever get hacked and lose coins (like many exchanges have) the coin is dead. Sure they are "insured by brinks" but that is for the physical gold, if the Bitgold gets hacked they can't issue new coins without adding more gold to the vaults or forking off from before the hack with tons of transactions reversed.

So we are talking about going back to the old ways when money was backed bit gold reserved, I don't see anywhere a total amount of coins nor an explorer for transactions this most be a centralized system.

[tspacepilot]

Yeah except this coin has some major fatal flaws. One if they ever get hacked and lose coins (like many exchanges have) the coin is dead. Sure they are "insured by brinks" but that is for the physical gold, if the Bitgold gets hacked they can't issue new coins without adding more gold to the vaults or forking off from before the hack with tons of transactions reversed.

Or vice-versa, if their gold bars get stolen then are their digital assets all of a sudden worth less?

From what I can tell, these bitgold people don't seem to get it that bitcoin is backed by mathematical scarcity, to toss in some minerals seems to undermine that.  That is, it either means that you're mining for free (because the value is actually in the gold, not the POW) or you're paying too much for your gold (because you have to do POW to keep the value of the digital asset, which you can spend + market rate to get the minerals).

[Amph]

we have bitcoin which is faster not centralized and vastly better in any other aspect

why i should choose a garbabe thing like gold? don't bring the whole "gold has another value outside of the market" again, because the blochchain has that value too

[Hazir]

People are obsessed by idea of backing cryptocoins with something 'real'. I know coins backed by silver, by gold or by marijuana. Most people think that bitcoin is backed by processing power...
Idea of backed coins is really interesting, but I am not sure of the details. Where is that gold? In the vault of creator of that coin?

[TibanneCat]

this should be in the altcoin section...

[Argwai96]

Is like i ask my self why did the governments decided to change the monetary backing on their money in the late 70's? and what would happen if they decide to go back to it? is gold really the answer ?

Well is true gold has some advantages in what is use for, most electronics now days but besides that is not like everyone uses gold unless your a rapper with a bunch of gold chains.  

[whywefight]

EDIT: Bitgold is not a coin its a service where you can buy gold with FIAT and BTC. Vaults are located in several countrys like Toronto or Zurich for example.

if you want some feedback on BitGold check this:

(read bottom up)

JUN 24, 2015  |  01:23PM EDT
BitGold Customer Success Team replied:

Hi Daniel,

Thank you for your information.

Your refund has been initiated today and it will take 1-2 business days for our vendor to process for you.

Let me know if you have further questions.

Best regards,

BitGold Customer Support Team

Support: Support.BitGold.com (Chat Support | Email Support | Phone Support | FAQ Support)
BitGold Inc.
www.BitGold.com

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JUN 24, 2015  |  10:48AM EDT
Daniel replied:

Hello,

thanks for your quick reply. Please send the refund to 192QngjQVEKQoPKLPV7yU5dyiNwGktRVxr. Thank you!

greetings Daniel

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JUN 24, 2015  |  09:16AM EDT
BitGold Customer Success Team replied:

Hi

Thank you for contacting BitGold.

Your recent bitcoin transaction failed due to an incomplete payment from your wallet.

You attempted to deposit 0.011168 BTC , however we only received 0.011167 BTC from your wallet.

To refund your bitcoin, please reply to this email and provide us with your bitcoin wallet address and our bitcoin team will initiate the refund.

Please note, it can take up to 3 business days for your bitcoins to reach your wallet.

Please let us know if you have any questions or require further information.

Best regards,

BitGold Customer Support Team

Support: Support.BitGold.com (Chat Support | Email Support | Phone Support | FAQ Support)
BitGold Inc.
www.BitGold.com

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JUN 23, 2015  |  04:18PM EDT
Original message
Daniel wrote:


Hey there support,
i made a deposit to test the system and to check if it is trustworthy via bitcoin, but the deposit was never added to my account. Bitcoin tx details:
Status: 104 Bestätigungen
Datum: 22.06.2015 19:34
An: 1PoceztuVwvDUynv6uFCWYrx3jkUn38DPS
Belastung: -0.01116773 BTC
Transaktionsgebühr: -0.00000375 BTC
Nettobetrag: -0.01117148 BTC
Transaktions-ID: 42a642a43603e9d4aa4751820218e553b8d4754b4cb60dfba169c701dcd09cd7

greetings Daniel

Well it might be my bad i copy and pasted the amount i wanted to send wrong BUT refund need 2-3 days?? Anyways, the do the refund so all cool.

Didnt try to get my physical gold send over but thats the next thing i want to try as soon as i got enough.

anyways i am using them and so far nothing went wrong, got invited and got some gold for free, if you want to try it out check the link in my sig and we both will get something for free.

[Zer0Sum]

EDIT: Bitgold is not a coin its a service where you can buy cold with FIAT and BTC. Vaults are located in several countrys like Toronto or Zurich for example.

Exactly.

BitGold has no blockchain and no cryptographic security elements...
90% of the people in this thread missed the basics... no wonder this is scammer heaven.

BitGold is PayPal for money... just replace USD with physical gold...
Though it's highly debatable whether average people want to use gold as a currency.

The fact you can buy gold for a flat 1% commission is actually revolutionary.

First month out of beta, they signed up 30,000 accounts for the BitGold Platform...
Though it's super, ultra-highly regulated... they even geolocate your ass via cellphone 24/7 (for your own protection, baby).

Hey, I made 9 XAU trades today...
It's a good junior tech to trade (nice spread and a floor of about $3.50).