watchmeplz wrote: Heres your breakdown traderjo,
I paid very close to 1550 CAD a oz shipped to me ($550/10g x 2.835(1oz)) with all fees included from bitgold site. On today's spot price of 1469 CAD a oz that equates to a 5.5% markup in total (all-in cost 1 way, to buy only, not to sell.)
Vancouver Bullion Exchange id say is our largest exchange,
https://www.vbce.ca/rates/precious-metals
They buy at -.006% off spot
They sell at basically 3% off spot
Total transaction of 3.006% but I have to get off my couch to trade.. :(
Im not trying to prove you wrong at all. Just looking at the economics and trying to really figure out what bitgold is truly going to be used for. My only sediment is it will be treated like another version of crytocurrency, which that space is crowded enough. Again, no more positive features then competitors like xapo with Bitcoin vault, offline servers, insured, etc.. or your local bank getting gold certs. Bitgold is clearly for the "cool" factor for now which is my mind runs out quickly. GLTA!
TraderJo2 wrote: If you go to the bullion exchange down the street isn't it 2-3% both ways to buy and sell gold? You'd save on shipping, but nit on fees. It would cheaper to save this way and the banks charge a healthy markup, as well.