Home | Community | Message Board

Cannabis Seeds - Original Sensible Seeds
This site includes paid links. Please support our sponsors.


Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!

Shop: Unfolding Nature Unfolding Nature: Being in the Implicate Order   Bridgetown Botanicals Bridgetown Botanicals   Kraken Kratom Red Vein Kratom   PhytoExtractum Kratom Powder for Sale

Jump to first unread post Pages: 1 | 2  [ show all ]
InvisibleAsante
Mage
Male User Gallery

Registered: 02/06/02
Posts: 86,794
PAX Gold [PAXG] -- A gamechanger in crypto & gold investing.
    #27720859 - 04/04/22 01:21 PM (1 year, 9 months ago)

PAX GOLD (PAXG)





The vid presentation says it all: PAXG is a stablecoin that is fully backed by allocated gold in Brinks vaults, and its price matches the price of gold.

That means you can quickly railroad crypto to allocated gold if push comes to shove, as easy as converting one crypto to the other.

Right now PAXG has a market around $600 million, which impressively represents over 10 metric tons of allocated gold.

A crypto tethered to the asset that is Gold.

This is VERY useful to have at least in the back of your head as a Plan B if suddenly there is a very dramatic multi market move.

The minimum trade amount is 0.003 PAXG, which is 0.003 of an ounce of gold, which is 93.3mg of gold, representing roughly $6.

For fees, see:
https://help.paxos.com/hc/en-us/articles/360041903832-PAX-Gold-Fees

https://paxos.com/ is the main site of the currency.


LOOK INTO THIS, if only as a backup Plan B option. It is very potent to be able to at once, transfter your crypto into one 100% backed by already vaulted physical gold.

PAXG uses the Ethereum network.


--------------------
Omnicyclion.org
higher knowledge starts here


Extras: Filter Print Post Top
InvisibleAsante
Mage
Male User Gallery

Registered: 02/06/02
Posts: 86,794
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Asante]
    #27722835 - 04/06/22 04:27 AM (1 year, 9 months ago)








--------------------
Omnicyclion.org
higher knowledge starts here


Extras: Filter Print Post Top
Offlinegopher
Coffee Bean Extraordinaire
I'm a teapot


Registered: 11/22/17
Posts: 12,990
Loc: Canada
Last seen: 12 hours, 29 minutes
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Asante] * 1
    #27722869 - 04/06/22 06:01 AM (1 year, 9 months ago)

I dont trust these, like what if shit hits the fan and they just sell the gold and leave the coin holders with nothing

Can I trade my coins for physical gold

I dont get how it works

I wish someone sold gold coins in my town, I'd buy them under the table, dont want the cc records for an online purchesd


--------------------
For most of the normies out there, an operating system is just a bootloader for Google Chrome.

Since Disney has obtained tremendous value from the public domain, knows how important the public domain is, and is firmly determined to never contribute anything to it.

My pronouns are He and Him, and my adjectives are Fat and Jazzy

:kratom:


Extras: Filter Print Post Top
InvisibleAsante
Mage
Male User Gallery

Registered: 02/06/02
Posts: 86,794
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: gopher]
    #27724169 - 04/07/22 03:26 AM (1 year, 9 months ago)

I just did a little transaction to satisfy my curiosity;

140 euros were converted to PAXG.
total fees were 38 cents
the PAXG roughly equated to the spot price of gold (bit lower)

0.271444% commission.

Thats a very good deal.
Typical commissions in physical gold are 2-5%

Its in the Brinks vault but you don't pay storage and its owned by you, not Paxos \o/


--------------------
Omnicyclion.org
higher knowledge starts here


Extras: Filter Print Post Top
InvisibleAsante
Mage
Male User Gallery

Registered: 02/06/02
Posts: 86,794
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: gopher]
    #27724170 - 04/07/22 03:41 AM (1 year, 9 months ago)

Quote:

gopher said:
I dont trust these, like what if shit hits the fan and they just sell the gold and leave the coin holders with nothing

Can I trade my coins for physical gold

I dont get how it works

I wish someone sold gold coins in my town, I'd buy them under the table, dont want the cc records for an online purchesd




Thing is, the gold is stored in the Brinks gold vault in London, one of the main LBMA vaults.

The construct is such that right now, *I* am the owner of said gold, not Paxos, in the gold system. This is how many nations own their gold supplies too.

Its at Brinks, in the capital city of a nuclear power, at the heart of the worldwide gold market.

Paxos cant confiscate it and Britain would be at war with the world if they confiscated the main vein of the worlds gold trade.

Its pretty darn secure.

Not as secure as a treasure chest buried in your garden but waaay more secure than most crypto or financial products.

Below a kilo its the best outsourced option, over a kilo, its better to deal with a bullion bank like goldmoney.


--------------------
Omnicyclion.org
higher knowledge starts here


Extras: Filter Print Post Top
InvisibleAsante
Mage
Male User Gallery

Registered: 02/06/02
Posts: 86,794
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Asante]
    #27724583 - 04/07/22 01:15 PM (1 year, 9 months ago)


In the 22 years of this century, gold went up an annual +27% on average




from another thread:


Quote:

Asante said:
Quote:

OutsideOfMyMind said:!

Anyway, GOLD is a scam.





Assault rifles are a scam because how many people have you factually assaulted since you have that thing? :smirk:


OK.

When gold is at $20K an ounce we'll see what $12K buys you. Protip: not 6 ounces of gold.





Do you know what you're seeing here?

Its not gold getting more valuable by an annual +27% over the last 22 years.

Its the dollar losing lots of value compared to gold.

As the dollar goes to zero gold, ammo, houses and cans of tuna go up.





--------------------
Omnicyclion.org
higher knowledge starts here


Extras: Filter Print Post Top
InvisiblePastywhyteMDiscord
Say hello to my little friend
Male User Gallery


Registered: 09/15/12
Posts: 37,808
Loc: Canada
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Asante]
    #27768494 - 05/08/22 10:57 AM (1 year, 8 months ago)

These type of financial instruments give me the fear. I personally see them to be about as safe as buying paper gold…I’d rather pay the price to “hold it in my hand” as there seems to be little accounting or oversight and a run could leave one high and dry. I don’t own gold or silver because I consider them an investment. I hold them in the event we end up in the Stone Age. I don’t consider the value of metals in terms of fiat either, they are not defined by price cause at the end of the day they are the price…or should be.

Recent inflation pressures coupled with some seriously soft floor testing of crypto instruments are getting interesting. I certainly hope I don’t end up “needing” my metals but I am glad I have them.


Extras: Filter Print Post Top
InvisibleAsante
Mage
Male User Gallery

Registered: 02/06/02
Posts: 86,794
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Pastywhyte]
    #27768890 - 05/08/22 04:18 PM (1 year, 8 months ago)

PAXG definitely is nice for a few ounces tops, if its any more a bullion bank or personal allocation is the way to go.

If you're holding some cash inbetween crypto investments, holding PAXG probably would be better than holding $ or €.

My € has dropped from $1.10 to $1.05 for instance.
PAXG, because its gold, rose.yeah in a way its paper gold. I wouldnt store a truly interesting amount of wealth in PAXG.

As a stablecoin though, its safer to tether a stablecoin to gold than to money.

In the past 50 years gold rose an annual 8% relative to currency. Thats a whole lot better than currency. Tether etc are tethered to a sinking ship. Fiat currency especially these days with frantic compulsory printing, is a shitcoin, not a stablecoin.

The whole "Thou Shalt Get Out Of Fiat" is a major driver to get into crypto, to then put it in a stablecoin thats in sync with fiat is a bit :crazy2:

If fiat were doing good and the marklets were good in the longer term, crypto wouldnt really be the trillion dollar baby its now.


--------------------
Omnicyclion.org
higher knowledge starts here


Extras: Filter Print Post Top
InvisiblePastywhyteMDiscord
Say hello to my little friend
Male User Gallery


Registered: 09/15/12
Posts: 37,808
Loc: Canada
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Asante]
    #27768960 - 05/08/22 05:23 PM (1 year, 8 months ago)

I’m wondering if cryptos days are numbered as central banks start to look towards the adoption of CBDC’s. The paper released by the IMF on CBDC adoption makes me think it’s only a matter of when rather than if and at that point I doubt many sovereign banks will suffer the competition cryptos may offer. At that point I truly believe physical will be the only viable alternative especially for those looking to purchase from a black market. Canada is likely one of the furthest along on the front of adopting CBDC of the G7 and I find myself uneasy as I watch the moves the BOC and the RCM have been quietly making the past few years. We live in interesting times.


Extras: Filter Print Post Top
InvisibleTulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,109
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Pastywhyte]
    #27769185 - 05/08/22 09:42 PM (1 year, 8 months ago)

Can you retrieve your gold from the Brinks vault? And if so, what is the cost/charges to do so, including shipping?


Extras: Filter Print Post Top
InvisibleAsante
Mage
Male User Gallery

Registered: 02/06/02
Posts: 86,794
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Tulipslave]
    #27769549 - 05/09/22 08:37 AM (1 year, 8 months ago)

You can, but can't. If you do it must be per bar, which for most people isnt feasible.

400oz is a lot of moola

But more and more bullion dealers accept crypto in exchange for physical gold, so you can dump crypto into physical gold if you feel that S is about to HTF


--------------------
Omnicyclion.org
higher knowledge starts here


Extras: Filter Print Post Top
InvisiblePastywhyteMDiscord
Say hello to my little friend
Male User Gallery


Registered: 09/15/12
Posts: 37,808
Loc: Canada
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Asante]
    #27769591 - 05/09/22 09:40 AM (1 year, 8 months ago)

Well to be honest I do see more value in a gold backed coin than one just created out of the ether via wasting electricity. Bitcoin seems to be struggling right now (it almost looks like a free fall) and given it’s lack of real utility I can’t say I’m surprised. But I’m not looking at promises as having much worth either. I purchased most of my bullion from either a dealer where I could hold it as I walked out the shop or from my bank. Even purchasing it from my bank had me nervous as I awaited delivery. JPM was fined like 200 million just last year by the SEC for fraudulent transactions which means just because a bank says they have your physical on hand, doesn’t necessarily mean they actually do.

However I don’t view holding metals as an investment, I see them more as insurance. While they can and should appreciate in value over time they are not an investment instrument. If a person is buying a crypto instrument as a potential investment and is treating it as such, my concerns as laid out above are kinda moot. I’ve been tempted to try and invest in some cryptos but always been too timid. Gold miners and tech stocks are wild enough for my liking, I simply lack the appetite for real risk which of course limits any potential returns. I should just stick to growing shrooms I guess.


Extras: Filter Print Post Top
InvisibleAsante
Mage
Male User Gallery

Registered: 02/06/02
Posts: 86,794
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Pastywhyte] * 1
    #27770029 - 05/09/22 04:15 PM (1 year, 8 months ago)

I don't consider gold and investment either.

Gold is a strategy to conserve wealth, not to increase on it.

Imagine your sister has twins and you gift one baby a 1oz gold coin and the other baby 20 crisp 100 dollar bills. You put them in little presents with the instruction that they get this when they turn 20.

Flash forward to 2043.
The twins open their packages.

The $2000 gold coin is now worth $9321 because it appreciated 8% annually.
But, the $2000 dollars are now worth $884 because there was 4% inflation.

See this?

THAT IS GOLD :awegold:

20 years is not a long time, but in 200 years money crashes and gold soars.


--------------------
Omnicyclion.org
higher knowledge starts here


Extras: Filter Print Post Top
InvisiblePastywhyteMDiscord
Say hello to my little friend
Male User Gallery


Registered: 09/15/12
Posts: 37,808
Loc: Canada
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Asante] * 1
    #27770121 - 05/09/22 05:11 PM (1 year, 8 months ago)

I use a similar example from actual history. In 1920 an oz of gold was worth about $20 dollars. Today that same $20 can buy a pack of smokes, a can of coke and maybe a candy bar. The oz of gold is worth like $2000.

I honestly feel like in taking global currencies off the gold standard a theft has been perpetrated upon the citizenry of the world. That value has gone somewhere and some people have been greatly enriched by it. Meanwhile the rest of us are struggling to make do with less. It took 100 years but the loss over that time has been significant.


Extras: Filter Print Post Top
Offlinegopher
Coffee Bean Extraordinaire
I'm a teapot

Registered: 11/22/17
Posts: 12,990
Loc: Canada
Last seen: 12 hours, 29 minutes
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Pastywhyte]
    #27770193 - 05/09/22 06:08 PM (1 year, 8 months ago)

We wouldn't have had unlimited growth on the gold standard, but now we pay the price

I heard JFK was shot cause he wanted to get rid of the federal reserve


--------------------
For most of the normies out there, an operating system is just a bootloader for Google Chrome.

Since Disney has obtained tremendous value from the public domain, knows how important the public domain is, and is firmly determined to never contribute anything to it.

My pronouns are He and Him, and my adjectives are Fat and Jazzy

:kratom:


Extras: Filter Print Post Top
InvisiblePastywhyteMDiscord
Say hello to my little friend
Male User Gallery


Registered: 09/15/12
Posts: 37,808
Loc: Canada
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: gopher] * 1
    #27770230 - 05/09/22 06:31 PM (1 year, 8 months ago)

Unlimited growth in a finite system will always fail.


Extras: Filter Print Post Top
Offlineashfiken
TotalCrazyasshole
Male User Gallery

Registered: 09/06/06
Posts: 3,072
Loc: SCranton
Last seen: 1 hour, 21 minutes
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Pastywhyte]
    #27770342 - 05/09/22 08:01 PM (1 year, 8 months ago)

Yeah that's what it comes down to, at least in the US, you cannot amass unlimited debt when restricted to some form of.true value
The economics don't work.

I don't doubt anybody, publicly and esp popularly, objecting to the flow of capital over the past 100 years, has been "dealt" with in order to preserve said flow.
Whether scared outta their wits. Chided with cash. Murdered or otherwise.

Insurance is a good bet when the money is always out to get you(and yours).


--------------------
hmm...

"I'm naked and fearless... And my fear is naked."

"life isn't worth living without the threat of death"

"I got my plans in a ziploc bag, let's see how unproductive we can be"

"nobody lives their lives fully except for bull fighters"

My Trade List


Extras: Filter Print Post Top
InvisibleAsante
Mage
Male User Gallery

Registered: 02/06/02
Posts: 86,794
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: gopher] * 1
    #27770615 - 05/10/22 02:09 AM (1 year, 8 months ago)

Quote:

gopher said:
We wouldn't have had unlimited growth on the gold standard, but now we pay the price






We didnt get unlimited growth, the billionaires got unlimited growth, we got food stamps and a failing middle class.

There was nothing keeping us for marking up gold to a million dollars per ounce to scale up the economy, but that would mean that everybody got richer, and they didnt want that, they want the few to get richer at the expense of the many.


--------------------
Omnicyclion.org
higher knowledge starts here


Extras: Filter Print Post Top
InvisibleTulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,109
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Asante]
    #27775254 - 05/13/22 08:07 AM (1 year, 8 months ago)

Quote:

Pastywhyte said:
Unlimited growth in a finite system will always fail.





Try telling 99.9% of politicians this and 99.7% of the "civilized, cultured" world this.


Also try telling them that a species without a livable habitat doesn't have an economy.......or the ability to be alive.



Quote:

Asante said:
You can, but can't. If you do it must be per bar, which for most people isnt feasible.

400oz is a lot of moola

But more and more bullion dealers accept crypto in exchange for physical gold, so you can dump crypto into physical gold if you feel that S is about to HTF






So, in short, no...no one but the extraordinarily wealthy would be able to retrieve their gold, based on the 400oz bar example. So, you're paying someone, including fees, to hold something you can use but basically not retrieve. Therefore it's not really yours. Therefore that bank or whoever is doing the "bookkeeping" can also do what lots of banks and vaults do when SHTF and seize or lock down the asset(s.)


No thanks.



Physical, tangible, for life.


Extras: Filter Print Post Top
Offlineashfiken
TotalCrazyasshole
Male User Gallery

Registered: 09/06/06
Posts: 3,072
Loc: SCranton
Last seen: 1 hour, 21 minutes
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Tulipslave] * 1
    #27775377 - 05/13/22 10:00 AM (1 year, 8 months ago)

I'm like this too demius.
When it comes to metals I wanna have my shit.
And I'm into crypto, but it is a different type of exposure and use and belief system entirely really, esp depending on ones goals with it.
Gold silver platinum copper whatever. I wanna hold it so I KNOW if I need I can sell it. The point to me isn't necessarily "getting spot" or the manipulated worth of these metals. It's in the general value storage regardless what fiat we consider and in the fact it will always be exchanged (for fiat or whatever else one needs) as a means of said value, across the board to pretty much all humans.
It doesn't matter if wall street crashes and blood in the streets, the guy around the corner from main St will still buy my Krugerrand, or I bet the scrapyard (or an entrepreneurial individual in their stead) will buy my copper or aluminum.
Esp knowing the industry value.
These are always realistic and true important and intrinsic if we wanna see what we hold these for and why.


--------------------
hmm...

"I'm naked and fearless... And my fear is naked."

"life isn't worth living without the threat of death"

"I got my plans in a ziploc bag, let's see how unproductive we can be"

"nobody lives their lives fully except for bull fighters"

My Trade List


Extras: Filter Print Post Top
InvisibleAsante
Mage
Male User Gallery

Registered: 02/06/02
Posts: 86,794
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Tulipslave]
    #27776884 - 05/14/22 12:35 PM (1 year, 8 months ago)

Quote:

Tulipslave said:

So, in short, no...no one but the extraordinarily wealthy would be able to retrieve their gold, based on the 400oz bar example. So, you're paying someone, including fees, to hold something you can use but basically not retrieve. Therefore it's not really yours. Therefore that bank or whoever is doing the "bookkeeping" can also do what lots of banks and vaults do when SHTF and seize or lock down the asset(s.)


No thanks.





This is why its only for the shortterm for a few ounces only.


--------------------
Omnicyclion.org
higher knowledge starts here


Extras: Filter Print Post Top
InvisiblePastywhyteMDiscord
Say hello to my little friend
Male User Gallery


Registered: 09/15/12
Posts: 37,808
Loc: Canada
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Asante]
    #27776889 - 05/14/22 12:37 PM (1 year, 8 months ago)

I’m too chicken to try and predict a bottom in any crypto right now.


Extras: Filter Print Post Top
Offlineashfiken
TotalCrazyasshole
Male User Gallery

Registered: 09/06/06
Posts: 3,072
Loc: SCranton
Last seen: 1 hour, 21 minutes
Re: PAX Gold [PAXG] -- A gamechanger in crypto & gold investing. [Re: Pastywhyte]
    #27778118 - 05/15/22 11:21 AM (1 year, 8 months ago)

Stage in at prices you feel are relative support and also support your allowance for exposure.
If it keeps going down keep buying and building slightly bigger positions.
By the bottom you will have a lil bag


--------------------
hmm...

"I'm naked and fearless... And my fear is naked."

"life isn't worth living without the threat of death"

"I got my plans in a ziploc bag, let's see how unproductive we can be"

"nobody lives their lives fully except for bull fighters"

My Trade List


Extras: Filter Print Post Top
Jump to top Pages: 1 | 2  [ show all ]

Shop: Unfolding Nature Unfolding Nature: Being in the Implicate Order   Bridgetown Botanicals Bridgetown Botanicals   Kraken Kratom Red Vein Kratom   PhytoExtractum Kratom Powder for Sale


Similar ThreadsPosterViewsRepliesLast post
* investing gold
( 1 2 3 4 5 6 all )
hazey 18,156 119 01/10/11 12:48 PM
by Yrat
* Gold -- Here's 45 financial experts who claim it will soon go way over the $1.000 mark!
( 1 2 3 all )
Asante 16,024 53 02/10/08 09:16 AM
by Caribou_Lou
* Over sixty economists agree gold headed above $2,200! (is $925) Asante 3,511 15 08/03/08 08:45 AM
by tomnl
* Is gold really a good inflation hedge? pothead_bob 1,466 5 07/30/08 04:43 PM
by debianlinux
* GOLD hit $1200 today.....whoot whooot
( 1 2 3 4 ... 10 11 all )
myco.alchemist 23,405 201 10/14/10 02:46 PM
by Shins
* Buying Gold Not a Good idea?
( 1 2 all )
tekramrepus 3,127 26 01/28/10 08:17 PM
by Yrat
* What is the best investment right now? Stocks, RE, gold, etc?
( 1 2 3 4 ... 9 10 all )
Stonehenge 32,411 189 09/20/13 06:13 PM
by Stonehenge
* Glen Beck fomenting rebellion to sell Gold.
( 1 2 3 4 5 all )
AnastomosisJihad 10,986 94 01/14/10 06:17 PM
by moon_glue

Extra information
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: geokills, automan
1,008 topic views. 0 members, 3 guests and 1 web crawlers are browsing this forum.
[ Show Images Only | Sort by Score | Print Topic ]
Search this thread:

Copyright 1997-2024 Mind Media. Some rights reserved.

Generated in 0.026 seconds spending 0.004 seconds on 12 queries.