Vaultoro Launches Bitcoin Gold Exchange

[SilveriteFX]

"Vaultoro Launches Bitcoin Gold Exchange"

 

- http://cointelegraph.com/news/113492/vaultoro-launches-bitcoin-gold-exchange

 

 

See: https://www.vaultoro.com

 

 

The gold is stored in Swiss vaults - allocated and audited: https://audit.vaultoro.com

 

You can apparently take delivery of your physical gold at anytime and also pay with Bitcoin using your gold. It is also a BTC/XAU exchange platform. No banks involved.

 

I'm very interested to here comments from the community here on this one.

 

- https://www.youtube.com/watch?v=YJxSHKKGNgM

 

 

[HighlandTiger]

So not content with having your money put at the vagaries of the fluctuating gold price, you are now linking it with the fluctuations of the price of Bitcoin.

 

Also known as a double whammy.......

 

Good luck with that.....although there are easier ways of flushing your money down the pan. 

 

Nice of them to make the whole process very very simple............only requiring three wallets I see. 

[JoshuaScigala]

Hi guys, Joshua here, I'm the Co-founded from Vaultoro. Our goal is enable people all over the world to transition to a commodity based currency instead of a debt based one.

By mashing bitcoin with gold (and soon silver) we hope to let people spend gold down to the 4 cent level, globally and instantly using bitcoin.

Making it useful not only as a store of value but also as a currency again.

We also just released our instant orders function where our system watches the blockchain and if money comes in, it converts it to gold instantly with the settings you set. People can also do a 50 / 50 split if they want some exposure to bitcoin.

If you have any questions or feedback please don't hesitate to let me know

Joshua Scigala

[lightjaw]

I think most people here collect physical gold and silver that they can hold in their hand. We have seen bitcoin exchanges vanish, bitcoin mining companies go pop, and it doesnt give a lot of confidence in the system as it now stands.

 

A gold coin in your hand is tangible, evidently there. Numbers on a screen, not so much

 

I wish you good luck with your venture, but after being burnt by bitcoin myself, i will stay with the physical for now that is in my personal possession.

[JoshuaScigala]

I fully understand that. I got stung by MtGox aswell and that's what inspired me to create a fully transparent exchange. Where the public can audit us and we are privately audited as well.

I also have physical gold and silver that I can touch but wanted to build vaultoro to make honest money like gold an instantly globally transferable asset without the legacy banking system in the middle.

I know the idea is not for everyone but I think it's great to give the people of the world an exit out of mainstream banking and the debt based nonsense we all live in while still enabling them to transact in a global economy.

A great example is that a client in Botswana had $3 worth of gold sitting in the Swiss vaults! and that was send to the vaults in 6 transactions! So tiny amounts that could never have been sent traditionally. These are vaults that only the financial elite traditionally or high net worth individuals had access too and now this client from Botswana can spend that value anywhere in the world! It is also dangerous for people in these type of countries to secure much gold at home because of robbery and the rest. I'm not sure how they got the bitcoin but It most likely was by selling something or getting a donation all without the corrupt banking system.

Anyway I thought that was really cool that a people in the developing world can now use the internet to sell or trade in an international economy and secure their wealth in private gold.

Bitcoin is a technological marvel and as everyone here knows gold is historically a fantastic store of value.

[SilveriteFX]

You (or your team) at vaultoro are obviously doing a good job with finding reference sources for your website etc.,

 

Perhaps my post here sent a good amount of traffic to your website or did you just chance upon this thread topic ?

 

Anyway, I do have a registered account on your platform with a small deposit balance using the 50/50 deposit method and will perhaps look to increase my holdings overtime with your company. The trading platform itself is quite impressive.

 

I think I share some of the concerns expressed here already in regards to the individual not holding the actual physical gold (bullion) for yourself, although in terms of convenience, practicability and ofc micro payments for some I can also appreciate the benefits and potential with this one.

 

As a fairly new business operating in the Bitcoin space I'd imagine it will take you a good few years to build complete 'trust' within the space.

 

I very much look forward to you adding Litecoin and Sliver trading on your platform in the future, which has been hinted at elsewhere. Personally I'm most likely to use your service as a trading platform for profit. There is not much movement in relation to the Bitcoin or Gold price to profit from at present, also due to the lower trading volumes on your platform - however this will no doubt change in the future as your user base increases.

 

Vaultoro is a UK based business in London, correct ?

 

 

You might be interested in what I'm trying to do with CryptoBullion here in regards to creating and building-up a decentralized Proof-of-Value Network:

 

- https://thesilverforum.com/topic/3614-how-to-use-crypto-currency-to-verify-value-and-secure-your-pm-trading

 

 

Anyway, welcome to the forum JoshuaScigala, good to have more Bitcoin folks on here.

 

Also, you might be interested to know that I was able to upgrade to a Premium Member here using Bitcoin !

 

If you are interested in doing so to help support the forum and get the benefits from that just contact ChrisSilver.