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#Post#: 2149--------------------------------------------------
Re: Buying bitcoin
By: Andy(Uncle_peter) Date: June 26, 2019, 2:35 am
---------------------------------------------------------
[quote author=Muscle link=topic=123.msg2142#msg2142
date=1561493175]
I knew it was heavy , but it's incredibly dense isn't it. 1kg
the size of a of credit card and thickness of a match box. I
wonder much those bars in fort Knox weigh and value of each bar.
[/quote]
It would be quite funky to have a gold bar on display at home
;D
#Post#: 2157--------------------------------------------------
Re: Buying bitcoin
By: doc Date: June 26, 2019, 5:56 am
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[quote author=Teapot link=topic=123.msg2125#msg2125
date=1561480345]
[quote author=doc link=topic=123.msg2109#msg2109
date=1561469799]
[quote author=Muscle link=topic=123.msg2108#msg2108
date=1561469620]
If you were to buy the physical blocks of gold is just stored in
the banks vault?
[/quote]
I have both , use gold money for bigger peices but have a nice
coin collection too)
silver you get stung with VAT so it makes more sense to never
take delivery , but i also do have a lot of silver coins aswell,
i just need +20% before i break even.
[/quote]
You really shouldn't hold physical silver because of vat,
terrible investment.
[/quote]
It is and it isnt , if you sell on ebay ,you'll get the the +
vat price as that's what they would pay from a bullion dealer
so its kind of built in to the price on the sell.
bit like if you buy a car on day 1 and sell it on day 2 you
don't instantly loose 20% off the price ( some you will) but
with silver you dont.
#Post#: 2204--------------------------------------------------
Re: Buying bitcoin
By: Bookerman Date: June 27, 2019, 2:17 pm
---------------------------------------------------------
[quote author=doc link=topic=123.msg2157#msg2157
date=1561546618]
[quote author=Teapot link=topic=123.msg2125#msg2125
date=1561480345]
[quote author=doc link=topic=123.msg2109#msg2109
date=1561469799]
[quote author=Muscle link=topic=123.msg2108#msg2108
date=1561469620]
If you were to buy the physical blocks of gold is just stored in
the banks vault?
[/quote]
I have both , use gold money for bigger peices but have a nice
coin collection too)
silver you get stung with VAT so it makes more sense to never
take delivery , but i also do have a lot of silver coins aswell,
i just need +20% before i break even.
[/quote]
You really shouldn't hold physical silver because of vat,
terrible investment.
[/quote]
It is and it isnt , if you sell on ebay ,you'll get the the +
vat price as that's what they would pay from a bullion dealer
so its kind of built in to the price on the sell.
bit like if you buy a car on day 1 and sell it on day 2 you
don't instantly loose 20% off the price ( some you will) but
with silver you dont.
[/quote]
What does this mean in numpty terms for me Doc? Is it the buying
of physical silver that has the 20% added, not when u sell it on
ebay. Oh and is ebay the best place to sell it?
I bought some way back from I think Sarnia Silver that I dont
believe had VAT added, based in Jersey or some other dodge of
sorts. They used to send out the coins but they individually
sent them so the post man was firing like 30 little envelopes
through the door at the same time 😄
#Post#: 2210--------------------------------------------------
Re: Buying bitcoin
By: doc Date: June 28, 2019, 7:41 am
---------------------------------------------------------
[quote author=Bookerman link=topic=123.msg2204#msg2204
date=1561663075]
[quote author=doc link=topic=123.msg2157#msg2157
date=1561546618]
[quote author=Teapot link=topic=123.msg2125#msg2125
date=1561480345]
[quote author=doc link=topic=123.msg2109#msg2109
date=1561469799]
[quote author=Muscle link=topic=123.msg2108#msg2108
date=1561469620]
If you were to buy the physical blocks of gold is just stored in
the banks vault?
[/quote]
I have both , use gold money for bigger peices but have a nice
coin collection too)
silver you get stung with VAT so it makes more sense to never
take delivery , but i also do have a lot of silver coins aswell,
i just need +20% before i break even.
[/quote]
You really shouldn't hold physical silver because of vat,
terrible investment.
[/quote]
It is and it isnt , if you sell on ebay ,you'll get the the +
vat price as that's what they would pay from a bullion dealer
so its kind of built in to the price on the sell.
bit like if you buy a car on day 1 and sell it on day 2 you
don't instantly loose 20% off the price ( some you will) but
with silver you dont.
[/quote]
What does this mean in numpty terms for me Doc? Is it the buying
of physical silver that has the 20% added, not when u sell it on
ebay. Oh and is ebay the best place to sell it?
I bought some way back from I think Sarnia Silver that I dont
believe had VAT added, based in Jersey or some other dodge of
sorts. They used to send out the coins but they individually
sent them so the post man was firing like 30 little envelopes
through the door at the same time 😄
[/quote]
yes if you buy a 20 quid gold coin after vat it will be £24 , so
that's the price you would pay of a dealer , so anyone buying
that coin is going to pay that , if you sell it on ebay you'll
probably get 23.50 . Its not like everyone completely avoids
buying silver because of the VAT , ive bought it and sold it
without much shift in price and never lost any money .
Physical market you pay 20% extra but you dont loose 20% on the
sell
None physical market its 20% cheaper but you never take delivery
of it and it will sell cheaper because of this . Yes the
government add 20% on the price and they are cvnts for doing
this and it makes assets more expensive , this does reduce
demand ( which is exactly what they want) but you never really
need to make the extra 20% before you break even.
probably +1% which is the same in both markets as dealers need
there margin.
#Post#: 2216--------------------------------------------------
Re: Buying bitcoin
By: Bookerman Date: June 28, 2019, 9:41 am
---------------------------------------------------------
Ok thanks Doc. Its one of things I’ve always wonder is how the
hell I get rid of it when the time comes lol. I think you sold
at $40-$50 a couple of years back while I held onto it. Ah well,
live and learn.
#Post#: 2220--------------------------------------------------
Re: Buying bitcoin
By: doc Date: June 28, 2019, 10:47 am
---------------------------------------------------------
[quote author=Bookerman link=topic=123.msg2216#msg2216
date=1561732908]
Ok thanks Doc. Its one of things I’ve always wonder is how the
hell I get rid of it when the time comes lol. I think you sold
at $40-$50 a couple of years back while I held onto it. Ah well,
live and learn.
[/quote]
I bought before that and watched it boom , listened to a lot of
fear mongering financial experts and waited for my $500 and
ounce silver price before I sold , it never got there and iv'e
still got a lot of silver , not too fussed that I didn't sell
near the peak because i'm not a trader and would have hated to
sell at $40 and then watch it carry on rising , for me its just
savings .
I did sell some near the peak on gold money but that was
literally exchanging paper silver for physical gold .
BTC i did alright on , wanted an NZB account and they would only
take payments in BTC , put something like 50 quid in there to
cover the £20 subscription . Pretty much forgot about it until i
saw all the plebs screaming bout how clever they where for
investing , checked my account and saw 5k in there , withdrew
instantly and dont regret it even though that 5 k would have
become 60k .
#Post#: 2222--------------------------------------------------
Re: Buying bitcoin
By: Bookerman Date: June 28, 2019, 10:53 am
---------------------------------------------------------
Nice return that. I see it boomed the other day to $14000 or
something but even quicker returned to $10000 again. U’d need to
be real good to buy and sell that (bitcoin)
#Post#: 2226--------------------------------------------------
Re: Buying bitcoin
By: doc Date: June 28, 2019, 12:09 pm
---------------------------------------------------------
ahh sod that , someones gains are someone else's losses , im not
cut out for that !
Nothing is being created and no value is being added , its a
belief system nd that will run out at some point.
#Post#: 2248--------------------------------------------------
Re: Buying bitcoin
By: Brett Date: June 29, 2019, 5:56 am
---------------------------------------------------------
I had to buy bitcoin so place an order for some supplements, as
it was the only payment method they offered.
Did plenty of research obviously. I was surprised that I had to
upload a photo of myself with my ID, but google suggested this
is all pretty standard now.
The anonymity comes from they have to idea what you are buying.
They know exactly who is buying bitcoins though.
Process wasn’t too hard just have to avoid anything dodgy and do
your research.
#Post#: 2281--------------------------------------------------
Re: Buying bitcoin
By: Andy(Uncle_peter) Date: July 1, 2019, 5:32 am
---------------------------------------------------------
[quote author=Brett link=topic=123.msg2248#msg2248
date=1561805781]
I had to buy bitcoin so place an order for some supplements, as
it was the only payment method they offered.
Did plenty of research obviously. I was surprised that I had to
upload a photo of myself with my ID, but google suggested this
is all pretty standard now.
The anonymity comes from they have to idea what you are buying.
They know exactly who is buying bitcoins though.
Process wasn’t too hard just have to avoid anything dodgy and do
your research.
[/quote]
It was a move to stop the biggest users of Bitcoin, drug and
people traffickers.
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