BitGold - what you think?

Ok, I am not into this cryptocurrency stuff that much, I take payments of BTC via PitPay occasionally but thats about it. However, someone sent me a link to bitgold which supposedly tracks the price of real gold and we all know that *should* be more stable than other currency tracking (maybe!)

I have signed up and nosed about and at the moment you can withdraw any 'gold' from your vault in the form of money wired to your bank (they need your bank details, not so good), to a prepaid credit card (not complete yet - coming soon), to your BTC Wallet, again coming soon, or (and this is the one I liked) actual gold to your address

To test it I also sent a BTC payment to it and received BitGold - it wasn't instant, in fact it took overnight for it to appear as there instead of pending so there was a bit of a nervous wait, well until I fell asleep anyway!

If you want to test, then take a look at BitGold.com.
However, if you would like to receive up to 0.5g of BitGold (about $15 at the moment) use my ref (I also get the same as you deposited to my account): BitGold.com/r/eZMjMV

To warn you - you will need to give them your email address and mobile number to get the 0.5g so get the Google Voice numbers at the ready The free 0.5g can take up to 60 days to clear from pending (mine is still waiting!) but anything you buy goes through quite quickly.

I am hoping this is a legit company, can't see anything against it in Google searches but as always, don't put in what you can't lose on the offchance it shuts up shop and runs away (ala Mt Gox!)

FB

From the research I've done it's seemingly legit.
They trade under the symbol XAU on the markets, visit yahoo to see their stock ticker.

I've tested them with small deposits with Bitcoin, nothing major, went in without too much delay.
I haven't tested withdrawing by selling, as you must sell at minimum $20 worth of gold for a wire transfer.

I have tested the referrals, haven't received any of the 'Bonus Gold' yet due to the 60 day hold, so we shall see in a week or two once that 60 days for some are up!

I have an account already and never seemed to be able to withdraw

Theoretically it would make sense, but let me just mentione e-gold. Same thing couple years back, of course non existent anymore.

Interesting but who is auditing all their physical gold, where is it stored, what is the ratio of BTC to physical AU etc etc.

If you are looking into BTC to AU then I would suggest Bitreserve. A much more credible company with a founder who has a long and dare I say it, successful track record - Halsey Minor



They also support BTC into multiple currencies

Have had no problems with them.

I haven't had any issues with them except for their affiliate program.
Not the main one on their website, but their other one.
I've never received a payment from them regardless of constantly emailing them about it.

They sent a newsletter out about how payments will be bi-weekly, and they're currently 'sending' payments, but I still have yet to receive one and have had a balance there for almost 3 months now.

I remember RawGold back in 2011, but shut down in 2013, with allot of bad reviews and legal suits. Secondly, flactuation in the currencies will also be the factor. If there is a strong financial entity backing this thing, it would be good.So, no in the favor of the bitgold.

Was wondering about this myself, I have to admit that I'm still not 100% clear on their operations though.

Another e-currency - seems they are popping up every day.

Is there 3rd party auditing of that gold? Does it actually exist in the numbers they claim?

Have you heard this news ? BitGold is changed to Gold Money. Rumors are spreading like BitGold turned to scam nowadays. But I don't think so since it is still active. By changing the name do we can judge such genuine organizations ? Am confused. I am also a Bitgold member and sadly, whenever I post my experience with Bitgold which happens to be positive, I am slammed and downtrodden and said to be everything from being a Bitgold conspirator to a bought poster to an employee. One of the main reason may yes, of course, they are new to the market. But I can tell you this: I have been a Bitgold customer and even got a few referrals in, I have money in both gold and card accounts in both personal and business. People send me money in gold and I can transfer the money to others. I haven't tried using the cards yet as I intended the money there as an investment. But I could transfer and get money transferred using Bitgold with no problem. Maybe what is posted about money transactions being dubious or using dubious means may be correct, I don't know. So far everything is going on fine on BitGold alias GoldMoney with me. You can bash all you want but what I am saying and experiencing for myself is the truth I cannot deny. This is the reason why I did a detailedhttp://rootofincome.com/what-is-bitgoldhttp://rootofincome.com/what-is-bitgold on my blog.