RE:RE:You Can't Fool the Market for Longbearache wrote: I'll disagree with a few of these points
1) The reason I don't like loma vista being involved was because it was an inappropriate vehicle to do the listing. Backdoor listings are fine by me if they save the company money - this one didn't
2) Not really - the gold is sold and a card loaded up. I don't see the problem - there are heaps of prepaid cards around.
3) I see two use cases for LBT.. one being a pawn broker situation and the other using the cash to lever up their gold. Not sure GM should be be in either of these things. The gold maximizer product is a better idea IMO.
4) Sharia compiant is just a philosophy/loophole against interest.. don't really have a problem with it..
5) Are we really going after the zerohedge market?
6) People will want to dump bitcoin into safer assets like gold at some stage - goldmoney could be in a great position to benefit it actually hedged their exposure and remained market neutral on bitcoin. Bitcoin fans are paranoid from MtGox etc.. the company has have to be iron clad trustable, with impeccable reputation and support. Goldmoney doesn't tick these boxes atm.
7) Yep
8) Yep
Bearache, let me reply seriatim to your comments: (1) Loma Vista - a CSE penny stock worth nearly zero owned by the 2 co-founders - is the cheapest way to vend in a worthless BC gold claim co. that was valued at 3 pennies per share - for Bitgold. Exchanging 3 cents for $0.90 that went to over $8.00 for "a broken Business Plan". The other alternative is go thru' and pay the exorbitant legal costs for an IPO. (2 The problem is Bitgold MasterCard is as you said a "prepaid" credit card that is just like cards from Home Capital, Safeway, PayDay Cash, and many others. They sold it as something FinTech that would disrupt the industry. (3) Agree. (4) I have a real problem with the Sharia law-compliant based on my philosophy and not being anti-Muslim. (5) Goldmoney has little exposure to the bullion mkt. except as a storage place. They own just $9 million worth of gold. Gold up $12 today and the stock felled. Investors are not buying XAU to hedge against other fiat currencies. A fake hype to get novice investors. (6) Bitcoin is bitcoin, gold is gold. Bitcoin has no more than 20 million out there in the marketplace and decreasing each year. Limited supply is winning the game for speculators. According to CNBC today, Bitcoin has had a stellar year, rising nearly 200 percent [briefly over $3,000], easily outperforming stock market benchmarks like the S&P 500 and the Nasdaq composite in 2017. Entering Tuesday's session, the S&P and Nasdaq had risen 8.81 percent and 16.9 percent for the year, respectively.