3Wk·

First gold purchase

Buying gold as a bitcoiner feels like buying a DVD at the Mediamarkt today for the next movie night

I did it anyway 🤷‍♂️

13.02

EUWAX Gold II

Bought x20 at €92.04

€1,840.72

16 Comments

D.S.@Cato_Bamboo

3Wk

Very good decision!!!!!

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Alfred E.@Papiertiger

3Wk

Gold always works 🦍

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Chris@Psychedelic_Sunflower

3Wk

If you want to reinforce this feeling, buy the gold physically. It's like a VHS tape 😄

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Harald@Madhatter5566

3Wk

Gold is the new Bitcoin

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Epi@Epi

3Wk

Buying a gold "certificate" as a Coiner must feel like buying a pirated DVD at a flea market.

Especially now that the physical warehouses have been emptied...

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Uwe@SchlaubiSchlumpf

3Wk

@Epi Is it not physically covered? In my mind, the warehouse should not be empty and should be replenished. Or do you mean something else?

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Epi@Epi

3Wk

@SchlaubiSchlumpf There is a massive run on stocks at the moment. Delivery times in London are 5 months or so.
Anyway, physical cover is one of those things. It exists on paper. But does it actually get delivered when you put your mind to it?
I only know stories that it didn't work and none that it worked once. 🤷

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Uwe@SchlaubiSchlumpf

3Wk

@Epi I don't actually know any stories. Neither in one direction nor in the other. (Well, I think I once read that someone had something delivered, but...)

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Epi@Epi

3Wk

@SchlaubiSchlumpf Paper gold also remains a bet on availability.
It's hard to imagine what would happen to the certificates if the warehouses were actually empty. 😳

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Uwe@SchlaubiSchlumpf

3Wk

@Epi yup. When I have time, I'll have a look at what requirements have to be met here as an issuer.
Since they are explicitly supposed to be physically backed, I would have expected that no new certificates would be distributed without cover. I'll have a look at their paper situation when I get the chance.

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Epi@Epi

3Wk

@SchlaubiSchlumpf Feel free to report! It would interest me and probably many others too.

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