RE:RE:RE:Getting at your physical gold $25 plus shipping and insur.Good news: with my profit from these crazy great swings I went onto the site and bought some cubes! Thanks Guys! Love the idea of getting cubes sent to me so they can be shiney on my desk! Who would not want ONE of these things for there desk. (Notice how I wrote ONE)
Bad news: as ctblizzard points out, I got cubes in intervals, as I made more money on the swings I bought more cubes, the first one I bought cost me 1%, and %1 out + $30 processing + $32 shipping from my vault in Toronto to Vancouver (keep in mind this is 1, 10g cube only!), also I sent my first cube request on the 19th, and tommorow is the 22nd and just today someone replied with the $32 shipping quote and my gold still hasn't shipped yet and is in "pending" status. Probably end up taking a few weeks all said and done to get to me.
Bottomline: Bitcoin already kills the digital currency space, along with new up comers Apple pay, etc. great novelty item, which I'm sure lots of people will enjoy ONCE. So if we're not using the site to physically get gold then what are we using it for? For crypto currency to be back by bullion in a vault. I have high doubts anyone will switch from some other digital currency as it now is just as safe or safer, check out Xapo.com, bitcoins, insured, in a vault, offline, etc... If someone wanted the feeling of gold in a vault that they never touch, go get a gold cert from the bank! The cost associated with the in's and out's/processing/shipping are way to much for anyone really interested in using the physical gold feature which somewhat in my mind ruins what the main purpose is portrayed to be. Anyone that is a serious gold buyer can order it online sent directly to you for cheaper, or better yet, trade it at the bullion exchange down the street from everyone's house.
My 2c on the new hype! GLTA!
ctblizzard wrote: I think you missd some stuff.
First off it is 1% in and 1% out. Then there is $25 dollars PLUS an unknown shipping and insurance cost. (see the website under FEES).
So taking your 1500 example you are up to 1555 PLUS the unknown shipping/insurance cost. Who knows that might be another 50 bucks , no info on what it actually is. But based on the location of their "vaults" it could be pretty high. Currently Bitgold is not available to USA as well
Getting charged percentages to spend/aquire hard assets instead of no percentage to spend fiat money which is worth less still doesnt make sense to me.