60% off on Gold buy from Bitcoin

[First77]

According to co-founder of Zap Project, Nick Spanos, bitcoin is a crypto-economic revolution which is changing the world right now.

“As a matter of fact you can buy anything with a bitcoin. You use the bitcoin to buy a coupon and with those coupons you can buy anything from gold at a 60 percent off to a car,” he told RT International Channel.

https://www.rt.com/business

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[ManaMan]

According to co-founder of Zap Project, Nick Spanos, bitcoin is a crypto-economic revolution which is changing the world right now.

“As a matter of fact you can buy anything with a bitcoin. You use the bitcoin to buy a coupon and with those coupons you can buy anything from gold at a 60 percent off to a car,” he told RT International Channel.

https://www.rt.com/business

Pretty good to see such articles on media giants such as RT which has a lot of people who are following them. Can't buy everything, but yes most of the things you can buy online via the internet. We have yet to see major stores/markets to accept it so that we can buy groceries with it and other stuff. Because people sell these gift cards, they are basically buying bitcoin and since they can't sell them for 1:1 ratio in value you can get them at discounts which is really good if you are type of guy who owns crypto.

[First77]

60% off on gold ?? That is fake gold or stolen gold ??

[Whibu]

Yes it is true, because we know that bitcoin can be to buy anything by the way we can turn bitcoin into vouchers or anything else that provides service, and bitcoin will always provide benefits.

[First77]

A worker at South Korea airport found 7 kgs of gold bars in dust bin. Be careful when you buy Gold and Silver. Bitcoin is used for fake/sub standard businesses and illegal deals.

[mk4]

60% off on gold ?? That is fake gold or stolen gold ??

They'd probably specify if it was fake. Though does it even matter if it was "stolen" gold? Would the person know anyway? sincere question.

[First77]

They'd probably specify if it was fake. Though does it even matter if it was "stolen" gold? Would the person know anyway? sincere question.

Some $200,000,000,000 is involved in Bitcoin and those criminals know about Bitcoin getaways. Gold is serious business. It's near impossible to sell stolen gold. Reputed gold and silver dealers know all about the "maker's name". You need a purchase receipt to sell Gold and Silver.

[playboy654]

They'd probably specify if it was fake. Though does it even matter if it was "stolen" gold? Would the person know anyway? sincere question.

Some $200,000,000,000 is involved in Bitcoin and those criminals know about Bitcoin getaways. Gold is serious business. It's near impossible to sell stolen gold. Reputed gold and silver dealers know all about the "maker's name". You need a purchase receipt to sell Gold and Silver.

I think it is possible but not sure to say this will be the right thing or we cannot blame bitcoin like that and also we can make much more income from bitcoin so it can be possible in all times.

[shaw1]

No way can you buy gold with 60% off, just by using bitcoin.

I'm not saying that bitcoin isn't used for legit transactions, but that just isn't logical!

Think about it. If I can buy 1 ounce of gold for 60% off, I would then sell it in person, for cash. (I'd be fine with taking a solid 20% markdown, if I had to, to get it to sell quickly.)
Then, I would use the cash to buy more bitcoin, and repeat the cycle until I could retire. Which would likely only take a handful of those "doublings", that I would be achieving...

What you are referring to here, is called arbitrage. It has been around forever, and it isn't something new. However, in most "known" markets, that "margin" gets cut down to razor thin.

Think about it. Let's say I could double my money on each transaction. I start with 1,000. Then 2,000. Then 4K. Then 8K. Then 16K. Then 32K. Etc...
You'd purchase all of the gold that that dealer would be willing to sell so cheap in a hurry!

So the free market rewards those who find arbitrage opportunities, but they "automatically" end up eroding the opportunity for that to happen in the future.

Deals with bitcoin? Sure.
>50% off with bitcoin? I sincerely doubt it.

[nemanjic]

nice

[Psychee]

it's all cool but it's better not to buy bitcoins that are falling in price and it's better to invest in other crypto projects like Socratus

[First77]

Think about it. If I can buy 1 ounce of gold for 60% off, I would then sell it in person, for cash. (I'd be fine with taking a solid 20% markdown, if I had to, to get it to sell quickly.)

Gold should go tho $2,100/ounce. In a way gold price in world markets are at a big discount. 

[btyco]

It's not a discount price, it means you can pay for example %40 in cash and %60 in bitcoin. Still good if you have a lot of coin and don't know what to do with it. Also saves on any conversion fees from btc to fiat

[fiulpro]

These kinds of things looks so appealing , buying gold with Bitcoins at 60% off . Really ? If someone has like a million of dollars invested im Bitcoins and then they convert it into gold the coupon will cause loss of more than half a million of the person who let out this kind of copoun in the first place , and it could be really a downfall since who will give gold for free ? If it's for a dollar or two it's somewhat understandable , but you know even that can cause problem if people started coming in huge numbers, I think this cannot be possible .. someone selling gold this cheap . It may be a fraud rest I have no idea about.

As someone above me stated how it's about paying 60% in btc not about 60% Discount.
Please edit the post seems fraud and misleading when. It's just misunderstood.

[Hughes_Ryan]

60% off on gold ?? That is fake gold or stolen gold ??

Maybe it's the stolen gold. I do not think anyone wants to sell gold at 60% when they receive Bitcoin payments. Gold is always safer than Bitcoin so I think this will never happen

[First77]

Maybe it's the stolen gold. I do not think anyone wants to sell gold at 60% when they receive Bitcoin payments. Gold is always safer than Bitcoin so I think this will never happen

I got a email from a scammer who reads bitcointalk.org and he said he wants to buy 500 kgs or 1000 kgs gold.

His page: https://www.linkedin.com

His facebook page: https://www.facebook.com

[Dava.Dina]

We have not seen the main store / marketplace even the Gold store to receive it so we can buy gold and groceries with it and other items.

If in my country receive payment through Bitcoin we are very happy, and we will buy other household needs.

But what will happen when our Government prohibits transactions through Bitcoin.

[pooya87]

of course 60% off is possible and it is easy. obviously not everything you see on the internet is legit but if a legit place with license is doing it then it is a possibility. and the reason is pretty simple, in some countries there is no tax when you buy with bitcoin so they can use that to give a discount on what they sell, additionally only a fool changes bitcoin which can go up 60% in a short time with gold which won't move that much at all. the company can receive these bitcoins, hold them and make a lot of money from this little trade. not to mention that this kind of promotion will increase their customers and revenue by a lot.

[btharry]

It must be a hoax. There is no such thing as a free cheap thing in the world, so we must be careful about it.

[First77]

It must be a hoax. There is no such thing as a free cheap thing in the world, so we must be careful about it.

I have never seen anything like Bitcoin which is used for all kinds of illegal activities, scams/frauds, hacking etc....