myself
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March 20, 2012, 01:25:12 PM Last edit: September 09, 2012, 05:12:10 PM by myself |
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"You Asked For Change, We Gave You Coins" -- casascius
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Nefario
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March 20, 2012, 01:37:06 PM |
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There is already coinabul, and sometime in the near future GLBSE will have gold backed assets trading on it.
Nefario.
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PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com
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Aggro
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March 20, 2012, 02:49:15 PM |
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There is already coinabul, and sometime in the near future GLBSE will have gold backed assets trading on it.
Nefario.
nope i mean something like Mtgox We were thinking of establishing a gold reserve where customers could buy certificates in a "pool". We already handle a private gold reserve, so the idea was to open it for the public and sell/buy shares of it for a fee, with an option of fabrication/delivery if the client wants. There are some licensing concerns on our jurisdiction that our legal team is working on. We'll see.
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BadBear
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March 20, 2012, 02:52:04 PM |
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There is already coinabul, and sometime in the near future GLBSE will have gold backed assets trading on it.
Nefario.
nope i mean something like Mtgox We were thinking of establishing a gold reserve where customers could buy certificates in a "pool". We already handle a private gold reserve, so the idea was to open it for the public and sell/buy shares of it for a fee, with an option of fabrication/delivery if the client wants. There are some licensing concerns on our jurisdiction that our legal team is working on. We'll see. I would just love this so much. Don't forget the silver
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Qoheleth
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Spurn wild goose chases. Seek that which endures.
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March 20, 2012, 05:42:34 PM |
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I've seriously considered it. If Bitcoins really are a "store of value" legally, and you're exchanging it with something like Pecunix GAU, there's suddenly no "money" involved - the way I figure it, you fall into the category of "dealer of precious metals" which, while still FinCEN regulated, doesn't have KYC requirements yet and has a good chance of dodging that bullet completely.
(Of course, I'm not a lawyer, and would probably have to retain one before trying to test that theory.)
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If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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Stephen Gornick
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March 20, 2012, 09:42:22 PM Last edit: March 20, 2012, 10:08:50 PM by Stephen Gornick |
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When P2P transfers using GoldMoney was possible there were trades between bitcoin and GoldMoney grams occurring pretty regularly. Then GoldMoney yanked P2P, blaming regulations. In the U.S. there are all kinds of regulations when doing what you describe. Perhaps some type of pool outside the U.S., like what AurumXChange describes might be possible. Another angle might be if there was a way to add and withdraw funds from a Bitcoin exchange to and from the account for a gold-denominated account at Peter Schiff's Euro Pacific Bank: - http://www.europacbank.com/index.php?page=goldcard - http://www.safehaven.com/article/24584/how-to-put-yourself-on-the-gold-standardThat is not available to U.S. residents though.
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Coinabul
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March 20, 2012, 09:51:00 PM |
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There is already coinabul, and sometime in the near future GLBSE will have gold backed assets trading on it.
Nefario.
nope i mean something like Mtgox If you think about it, orders put through us in essence are placed on an exchange, since we use spot price... it's in effect an order on the world-wide gold exchange. The only big difference is that you can state the price you want to buy or sell at on Mt. Gox... Which actually, we could probably do too, if you asked nicely
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