Tuesday, 11 October 2011

Buy your Private Gold with bitcoin. Accept no substitute.

I found a post on another blog called "Ten reasons you should own private gold"
and I think number 5 is where bitcoin comes into the picture.

5. US Gold Coins are completely private, easy to carry and 100%
Liquid. They trade without Government reporting requirements or
interference. You can’t say that for paper instruments like, Dollars, Stocks and Bonds, or 401k’s.

Do you think Bernard Von Nothaus would agree ? Or anyone who had their gold seized over the past years which the US government is prone to do ?

If you are buying coins or physical metals what you buy them with can have just as much impact on your privacy as anything else. For instance using a credit card your bank will have all the records. That's where bitcoin comes in to give you extra control over your financial privacy.

If you look at the bitcoin physical metals market it looks a bit like yahoo geocities before they closed it down. Recently though a site opened that offers a shining example of a bitcoin site done right. Coinabul lets you buy physical metals with bitcoin. It makes a lot of sense if you dont like leaving a cash trail behind to buy gold with bitcoin. You never know when another Roosevelt will come along with an Executive Order 6102

I want my gold safely in my hands without the complications associated with a bank transfer. turning digital gold into physical gold is another reason.

1 comment:

  1. Gold has been advancing for over 10 years now, from a low of $252 per ounce in 1999 to where it sits today at $1,755, which is a gain of over 595%. With gold at unprecedented levels (previous bull market high was $850/oz) is it any wonder why someone would question starting to acquire gold?
    us gold coins