/biz/ - Business & Finance

>>6801985
cont.

Vaultoro allows you to purchase small amounts of gold (fractions of gram) with Bitcoin. You can then take physical possesion of that gold if you so wish, or convert back to Bitcoin at a future date.

EXACTLY LIKE TETHER

Only the main difference is that Vaultoro's gold AND Bitcoin reserves are audited every day, and posted online. They're entire inventory is assayed each year, with the report posted online.

Please consider saving a little bit of your exit money in this platform, for your own sake.

www.vaultoro.com/?a=107662

>>6802118
cont.

This is a copy of their most recent audit of gold reserves (which are audited once a week, not once per day)
https://s3-eu-west-1.amazonaws.com/vuser/DA_Vaultoro.pdf

>>6801985
>>6802118
>>6802245

fuck off, we're not selling, you'll have buy in high before we take off without you , sorry. gtfo with your fud.

>>6802245
it currently shows that they have

22 X 500 Gram and
526 X 1000 Gram .999 gold bars

in reserves confirmed by Pro Aurum, who holds the gold in swiss vaults.

>>6801985
where the fuck do you buy this bitcoin bullion?!

>>6802344
wouldn't you at least want the option, just in case?

>>6802436
https://de.wikipedia.org/wiki/Pro_Aurum
"In 2005, the Pro Aurum generated annual sales of 60 million euros. [28] With the financial and economic crisis from 2007 and the flight of many investors in precious metals, sales increased significantly. For example, in the months of April, May and June 2011, the Group sold around 2.3 tonnes of gold in the form of coins and bars. For the months of July to September of the same year, an increase in sales in this area was reported at 3.4 tonnes per month. [29] From January to November 2011, the company sold 17.2 tonnes of gold to banks and individuals. [7] At the end of 2011, the company put the peak silver trading daily sales at five tons, and the usual silver daily sales in the same year were half of that figure. [30]

At the end of 2011, the company reported a total sales of 680 million euros for the financial year 2010 and for the first time a turnover of one billion euros for the year 2011. [3] Per week up to 24 million euros were implemented in 2011"

>>6802619
>www.vaultoro.com/?a=107662

>>6802619
to sign up, you do need to verify your identity like most other exchanges. you can then deposit bitcoin and start buying gold like any other exchange. they have an order book with buy and sell orders. if you're lucky you can sometimes grab the gold for below spot price.

>>6802864
wrong picture, meant to post this one.

>>6801985
Cashing out is the safest option. Better to pay tax than to lose it all.

You also have to pay taxes when trading to shitcoins to BTC. And you also have to pay taxes when converting BTC to USDT. And you also have to pay taxes when converting back to BTC. And you also have to pay taxes when converting BTC back to shitcoins.
At least 4 taxable events right there.

>>6802916

if you bought coins with actual use cases you shouldnt be scared. blockchain isnt going away.

>>6803017
technically you're correct. but it does depend on your jurisdiction. for instance Barbados has no capital gains tax.

In any case here are further documents of Vaultoro's audits. Their gold insurance letter can be found publicly here: https://s3-eu-west-1.amazonaws.com/vuser/Versicherungs+Police_Helvetia_Januar+2015.pdf

It reads as follows:
Helvetia Business Insurance, policy number 4.000.333.834

Dear Ladies and Gentlemen,

We confirm with this letter that in the vaults of Embraport, located at Lochackerstrasse 3 in CH-8423 Embrach-Embraport, precious metals are insured against the following hazards:

Fire and natural disaster (of first risk)
Burglary and theft (full value)

The specified sums of insurance apply as of January 5, 2015.

The following deductibles apply:

Fire, burglary, and theft: no deductible
Natural disasters: 10% of the compensation, minimally CHF 2,500, maximum CHF 50,000

This insurance policy is based on the general conditions for Helvetia Business Insurance, following the January 2007 issue and the written special conditions.

Best Regards,

Helvetia Insurance Property Insurance Division

>>6803227
cont.
https://s3-eu-west-1.amazonaws.com/vuser/BDO_Audit.PDF

This last document in the link above is a letter from BDO, a neutral 3rd party, attesting to MORE then full gold reserves held by Pro Aurum vaults for Vaultoro users. It reads:

"
Precious metal inventory of transshipment port in Embrach-Embraport

Dear Mr. Buchwalder,
tl;dr: There are more precious metals in the inventory than customers own: Above full reserve.

As ordered, we have counted the inventory of precious metals in your transshipment port. Hereby we confirm by legal revision that as of December 23, 2016, the total of stored precious metals (gold, silver, platinum and palladium) in your transshipment port was greater than the total assets (purchased goods) of your customers, which you reported in the weight account and confirmed on December 23, 2016. We have adjusted the total inventory of the customer’s weight accounts with the total inventory of the signed inventory list from the transshipment port. We have concluded from the balance list that was provided to us that the stored inventory of precious metals is sufficient to meet all customer claims from storage contracts.
tl;dr: BDO does not check quality. (Quality check is done by ProAurum, they only take bars directly from smelting companies)

The precious metals are not individually labeled and therefore, we have not confirmed that it is in fact the agreed upon product in the corresponding order quality.
tl;dr: This paper is not intended for third parties, a liability disclaimer

This confirmation is only directed to the company and does not represent any promise or confirmation to third parties on the respective goods."

>>6801985
I don’t care if I lose everything, I’d prefer not to, but I’m treating this as an investment. It’s fun seeing the money go up and down

>>6803442
>It’s fun seeing the money go up and down
this

>>6803442
totally fine for now. And this is really just for the big boys who have made it and don't want to lose hundreds of thousands, but lock in their gains while having the option to jump back in at the right time.

never invest more than you can afford to lose. it's ok to take some profit when things are going well too.

>>6803442
>>6803549
just be aware that there is a service like this available when you make it. it could be helpful.

>>6803602
yeah it's called monero nigger fuck off

>>6801985
OPIAF

>>6801985
If they had an AUT (gold tether) token it'd be a lot more useful
this is way clunkier than using USDT for exchanges

>>6803625
monero is still crypto, its USD price follows bitcoins. so a crypto bear market it is not immune from. gold is immune from a crypto bear market. the question you have to ask yourself is, do you want the option to switch horses if one starts to get tired. and in a race for money, the answer is always, YES YOU FUCKING PAJEET.

>>6803731
agreed. but it could prove to be a good mechanism for store of value.

one of the few island safe havens in a potential crypto bear market.

>selling during dips

lol. Anons, you sell when it is going up, not when it is going down. If you want to sell, hold. If you want to hold, sell then if you ever will.

The right thing to do at -20% is buy

Buying bitUSD and OPEN.USD on BitShares DEX with BTS, bitBTC, or OPEN.BTC.

All the gravy of a dollar peg, none of the 'taters of dealing with banking or (((tether))).

>>6803860
in a bull market I would agree with you. Are we in a bull market?

There lots of answers to that, but the only real answer at this time is, WE DON'T KNOW

>>6803869
your missing my point. you're value is still in crypto. in a bear market that value evaporates.

gold doesn't evaporate.

>>6801985

In conclusion,

You can use Vaultoro as a fourth option for an ermegency cashout method to lock in your gains, or just to take some profit off the table. The benifits of this service allow you to buy a real hard asset that will stand against the dollar and the test of time. Its better than tether. You can take physical delivery of the gold if you want. you can sell the gold for bitcoin at any time and withdraw that bitcoin at anytime (no limit). taxes are dependent upon your jurisdiction.
If you found this information helpful, then please consider signing up using my reflink, you get some gold for doing so.

vaultoro.com/?a=107662

>>6803994
No value evaporates so long as OpenLedger has USD backing its OPEN.USD, and as long as shorts which created the bitUSD I bought don't get squeezed so hard a 'black swan' occurs and my bitUSD is converted to the BTS which was put up as collateral.