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!
Dennis of BitCoinCommodities.com
So that's me bouncing this right into the community. Anyone interested?