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Author Topic: Bitcoin <--> GoldMoney  (Read 12114 times)
flix
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indomitus


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June 30, 2011, 02:43:54 PM
 #1

Anybody has a GoldMoney Full Holding http://www.goldmoney.com/online-payments.html and wants to sell me some BTC for Gold?

I would also be very interested in an automated BTC/GM exchange, since both systems are non-reversible, final, international, online and non-dollar based. Do any exist?

http://twitter.com/flix1       [1FLiXK8Xh8AmCpX5izyqUyPeuTUesooYkS]
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sunnankar
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June 30, 2011, 06:10:56 PM
 #2

I also want to purchase BTC via GoldMoney. I found one seller but he wants a minimum of $10,000 for the first deal. If you are willing to pick up a few thousand I will go ahead and buy a large batch and then make a deal with you later. PM me.

An exchange would be great but I doubt GM would let it last very long as they do not do any digital currency exchanges and stay very safe for their regulators from the Jersey Financial Services Commission for KYC and AML requirements.

flix
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indomitus


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June 30, 2011, 06:29:16 PM
 #3

I would like to start small, especially since there's probably no escrow service we can use. Also check the seller's reputation any way possible.

I would buy 100$ first, could work my way up to 1000$ after trust is established.

Regarding exchangers... what about http://bitcoin-otc.com/ ?  I hear good things.

http://twitter.com/flix1       [1FLiXK8Xh8AmCpX5izyqUyPeuTUesooYkS]
flix
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indomitus


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June 30, 2011, 06:34:15 PM
 #4

A couple of interesting articles comparing BTC and GoldMoney and pointing out their relative flaws/strengths:

Bitcoins backed by gold launched
http://irdial.com/blogdial/?p=3103

Why Are Libertarians Against Bitcoin?
http://themonetaryfuture.blogspot.com/2011/06/why-are-libertarians-against-bitcoin.html

Doug Casey on Bitcoin and Currencies
http://www.caseyresearch.com/cwc/doug-casey-bitcoin-and-currencies

FOFOA
http://fofoa.blogspot.com/2011/06/bitcoin-open-forum-part-3.html

My conclusion is that they could work very well in combination, they complement each other pretty well considering how different they are...

http://twitter.com/flix1       [1FLiXK8Xh8AmCpX5izyqUyPeuTUesooYkS]
sunnankar
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June 30, 2011, 10:05:01 PM
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My conclusion is that they could work very well in combination, they complement each other pretty well considering how different they are...

I found another article. I agree that they complement each other pretty well. Bitcoin is great for transactions and GoldMoney for storage of value.

Stephen Gornick
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July 01, 2011, 05:40:20 AM
 #6

Anybody has a GoldMoney Full Holding http://www.goldmoney.com/online-payments.html and wants to sell me some BTC for Gold?

Interesting.  Wasn't aware the GoldMoney supported P2P transfers.  This can be for any of the metals, including silver.    Incidentally, the fee is about 1% with an upper limit / cap at about roughly $5.

flix
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indomitus


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July 01, 2011, 11:19:13 AM
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Quote
I found another article. I agree that they complement each other pretty well. Bitcoin is great for transactions and GoldMoney for storage of value.

My thoughts exactly! No matter how much I believe in Bitcoin, I'm not going to save in a currency that has only been around for a couple of years. So I figure: BTC = wallet  / GM = piggybank.


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cvicisso
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July 05, 2011, 04:20:14 AM
 #8

I'm in.  I have a GoldMoney account and will sell BTC for GoldMoney.  Willing to go as slow as you want/need at first (I don't have many BTC right now anyway).  PM me if interested.
flix
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indomitus


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July 05, 2011, 07:57:00 AM
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Yes interested, will PM.

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zerokwel
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July 05, 2011, 08:11:01 AM
 #10

one question about goldmoney. It looks like they take a storage fee every month from you as well as the fee for buying and selling.

Call me short sighted but I would prefer to spend a little bit more over spot and have a coin sitting on my desk rather than paying someone else to store it.
flix
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indomitus


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July 05, 2011, 08:26:47 AM
 #11

Quote
It looks like they take a storage fee every month from you as well as the fee for buying and selling.

Actually there is no sell fee.
And storage fees are pretty low... considering the premium that you normally pay for a coin, it would pay for a few years of GoldMoney storage.  http://www.goldmoney.com/precious-metals-prices.html

check out this calculator:   http://inbullion.com/gold-investment-planning.shtml


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cvicisso
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July 05, 2011, 02:47:53 PM
 #12

one question about goldmoney. It looks like they take a storage fee every month from you as well as the fee for buying and selling.

Call me short sighted but I would prefer to spend a little bit more over spot and have a coin sitting on my desk rather than paying someone else to store it.
Agree (somewhat), but I can't find any place willing to sell bullion for BTC.
flix
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indomitus


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July 05, 2011, 02:48:41 PM
 #13

Peter Schiff on previous attempts at competing with the US dollar:

Peter Schiff: The rise of the barter economy
http://www.investmentnews.com/article/20110705/FREE/110709989

Liberty dollar, e-gold, etc... interesting recap. Good reminder that most of these were taken down by USG.

http://twitter.com/flix1       [1FLiXK8Xh8AmCpX5izyqUyPeuTUesooYkS]
flix
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indomitus


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July 05, 2011, 09:21:05 PM
 #14

I'm in.  I have a GoldMoney account and will sell BTC for GoldMoney. 

Great doing business with you cvicisso. 
Will trade again soon.

http://twitter.com/flix1       [1FLiXK8Xh8AmCpX5izyqUyPeuTUesooYkS]
cvicisso
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July 06, 2011, 01:09:47 AM
 #15

I'm in.  I have a GoldMoney account and will sell BTC for GoldMoney. 

Great doing business with you cvicisso. 
Will trade again soon.
Thanks - I look forward to it!

If anyone else is interested - let me know.  Will sell BTC for GoldMoney.  If you don't have a GoldMoney account... you should!   Wink  You can easily set one up by hitting the link in my signature line. 
flix
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indomitus


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July 06, 2011, 11:47:26 AM
 #16

I have just completed my second gg <-> BTC transaction with cvicisso successfully. Everything went smoothly, I heartily recommend this user as honest and prompt.  Smiley

I won't be broadcasting any future deals, I'll stick to PMs.

If anyone is interested, the rate was   1 gg = 3.5 BTC

http://twitter.com/flix1       [1FLiXK8Xh8AmCpX5izyqUyPeuTUesooYkS]
cvicisso
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July 06, 2011, 12:16:35 PM
 #17

I have just completed my second gg <-> BTC transaction with cvicisso successfully. Everything went smoothly, I heartily recommend this user as honest and prompt.  Smiley

I won't be broadcasting any future deals, I'll stick to PMs.

If anyone is interested, the rate was   1 gg = 3.5 BTC
Thanks flix - and same high recommendation goes for flix.  Transactions were QUICK and painless. 

In fact - I've tried doing this (selling BTC) on eBay... what a pain!!  GoldMoney <--> BTC is THE WAY TO GO!  No big fees and transactions are near instant.  As was mentioned earlier, there is of course a 'trust' factor initially (since there is no way to retract or dispute a transaction) - but start small like flix and I did and it's smooth sailing after that. 

Bottom line: a GREAT experience.
zerokwel
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July 06, 2011, 02:02:31 PM
 #18

one question about goldmoney. It looks like they take a storage fee every month from you as well as the fee for buying and selling.

Call me short sighted but I would prefer to spend a little bit more over spot and have a coin sitting on my desk rather than paying someone else to store it.
Agree (somewhat), but I can't find any place willing to sell bullion for BTC.

there are a few people on the forums selling troy oz coins, eagles etc for between 2.5 to 3.5 btc each
flix
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indomitus


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July 06, 2011, 05:48:30 PM
 #19

1 gg = 3.5 BTC

Both Bitcoin and Gold are up a lot today.

gAu = 49,16$          
BTC = 16,04$

http://twitter.com/flix1       [1FLiXK8Xh8AmCpX5izyqUyPeuTUesooYkS]
sunnankar
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July 11, 2011, 03:38:27 AM
 #20

Anyone else who still wants to sell GoldMoney for B, please PM me.  Cool

Thank you.

Had a good transaction with imanikin. He sent first.

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