Why do these big Bullion retailers except bitcoin for payment for gold?

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#1 Tue, Feb 26, 2019 - 1:28am
CryptoGold
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Why do these big Bullion retailers except bitcoin for payment for gold?

A year ago i bought 5 oz of gold with Bitcoin. I was lucky i got into Bitcoin around 4500 and sold all of it on the way down at 16500... With that said I've been wondering ALOT lately why these big bullion retailers are excepting bitcoin for gold???The ones who are in charge of the fiat system are not dumb and are many steps ahead,Prepared for the dollar to collapse. We do know that they want to go to a cashless society.Possibly Crypto currency is the future? Which is why i continue to wonder why these retailers are willing to part ways with gold for Bitcoin.Do they continue to hold BTC or do they sell it off? I am hoping someone here has some info or any ideas.Thanks.

Thu, Feb 28, 2019 - 7:26pm
bigballer
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Because they want your money?

Because they want your money?

Bitcoin is a means of exchange. I'm sure they don't keep a ton of it -- exchanging it out for whatever they feel is more secure at the moment..almost every offshore casino accepts it. That should tell you about their confidence in it as a means of exchange.

Serving the customer, that is all its really about.

Mon, Aug 5, 2019 - 3:38pm
Jenn123Gold
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Joined: Apr 2, 2019
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Bullion Exchanges accept

Bullion Exchanges accept Bitcoin as a form of payment. https://bullionexchanges.com/

Thu, Aug 8, 2019 - 3:37am
SueCroke
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BITCOIN

Bitcoin is a digital currency that is not linked to the operations of a bank or government and allows its users to send money anonymously.

According to Quora, The coins are created by users that create an algorithm which is known as Mining Bitcoin. When using Bitcoin, it is decentralised, meaning that large banks can’t control the money putting users at ease.

Recently, one Bitcoin traded for $1,734.65, according to Coinbase, a company that helps users exchange bitcoins. Bitcoin value is worth more than an ounce of gold, which trades at less than $1,230.

Bitcoin was launched in 2009 by a person or group of people operating under the name Satoshi Nakamoto. Nakamoto disappeared as Bitcoin began to attract attention. In the beggining, people were not too excited about Bitcoin but Techies found it to be a great innovative solution to convert their currency and not have it controlled by large banks.

Fin24 reported that Bitcoin, for the first time surpassed $4 000 by growing optimism, due to faster transaction times which will hasten the spread of the "cryptocurrency".

Events that made it possible was that a bitcoin-clone called Bitcoin Cash was created. Unfortunately, it received less attention than most people expected. A few days later Bitcoin developed SegWit, a code modification that allows for more transactions to be stored as it frees up space in the blocks.

These two code-related developments have helped boost confidence in Bitcoin’s future.

The main reasons that make Bitcoin popular:

1. A Bitcoin account is easier to create than even setting up a bank account.

2. Anonymity is key, you are allowed to have multiple Bitcoin accounts and they will not be linked together

3. Transaction fees are lower than banking fees.

4. Payments show in a matter of minutes, which is as soon as Bitcoin processed it.