RE:Schiff-Goldmoney: A Marriage Made in Heaven...or Hell?I like the concept of BitGold but I am selling my shares and going to short this thing in the future. I bought into BitGold because precicesly because Schiff had put that hit piece out on it.
If they are smart they won't let Schiff promote the company. He has a cult following but is seen as very unlikable and rude by the mainstream. I personally think he is a used car salesman and won't touch anything he is involved with.
With that said BitGold or any copy cats that pop up still have issues regarding monetizing this concept. Storage costs are going to be a major factor and I don't believe the current fee structure supports the business. Similar to North West Territorial Mint and several other Gold dealers went under selling below cost. I think BitGold will be in that camp. Its a cool idea but I think will go the same way as eGold and its predecessors.