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gopher
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savings in paxg? (asante interested in your opinion)
#27955875 - 09/18/22 11:03 AM (1 year, 4 months ago) |
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I need to save $500 a month from October to may
Should I shoe it away into my savings account
Or maybe I should put it into paxg while gold is down? And hope its more than 4k by may?
Does anyone know how much a paxg transfer costs?
I dont know anything about paxg other than I already have 100 put into it
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Edited by gopher (09/18/22 11:04 AM)
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Asante
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Re: savings in paxg? (asante interested in your opinion) [Re: gopher]
#27956033 - 09/18/22 12:56 PM (1 year, 4 months ago) |
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If the choice is between putting it in a savings account that yields next to no interest or via paxg, in gold, i am very heavily inclined towards gold, ands therefore PAXG.
Paxos Gold seems a relatively time proven way to tokenize gold. Its backbones are the Ethereum network, stable, and reallocating fractionals of good delivery bars already owned in the brinks vault of london, also stable. If paxos goes belly up, the gold is still your property. Brink's is not a bank therefore not subject to the whims of the banking cartel. The gold is insured.
It would be best to get the gold at cost as physical gold in your hand, but PAXG is a good alternative that cuts out a lot of fees.
My opinion is that PAXG in the shortterm is a safe bet, its your responsibility though.
Why do I choose gold?
I saw that the Chase bank offers 0.01% interest, while gold on average appreciates 8% a year in value. IT MAY OF COURSE PLUMMET THIS YEAR but I think it will in fact grow bigger because Putin and BRICS and other countries are looking into dollar alternatives fopr stability and are looking increasingly towards commodities, especially gold and silver, to back wealth.
If others have better ideas lets hear it, but gold sounds better than dollars at the moment.
If you choose dollars, it might be better to own them than have them in the bank, because if banks get in trouble precious time may pass before you get your money back. If you do that, keep your receipts so you can prove where the money came from when you deposit them. For instance, every time you ATM that months 500, put it with a receipt, in an envelope, in your gunsafe or whatever undisclosed location you safely store at.
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gopher
Coffee Bean Extraordinaire



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Re: savings in paxg? (asante interested in your opinion) [Re: Asante]
#27956042 - 09/18/22 01:01 PM (1 year, 4 months ago) |
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I'd need to buy 1ozt at a time for it to be worth it premium wise, so that would mean saving up 2.5k over a 5 month period,
and than having to sell it and getting at least spot
I think I want instant turn around on selling it
I dont know, just thinking aloud
-------------------- 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
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Asante
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Re: savings in paxg? (asante interested in your opinion) [Re: gopher]
#27956080 - 09/18/22 01:22 PM (1 year, 4 months ago) |
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Thats why, for this relatively small taters money over a short period, PAXG is probably better as it seems likely it will hold its equivalency to gold over the coming period.
I notice at an exchange that bitcoin and paxg (gold) are a more common trading pair than cash and gold.
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gopher
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Re: savings in paxg? (asante interested in your opinion) [Re: Asante]
#27956193 - 09/18/22 02:48 PM (1 year, 4 months ago) |
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asante what wallet do you keep your paxg in, the first one that came up in a search was atomic wallet, is that any good? itd be nice to access it on both my computer and phone if possible, otherwise just my computer I dont need the phone
-------------------- 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
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Asante
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Re: savings in paxg? (asante interested in your opinion) [Re: gopher] 1
#27956487 - 09/18/22 07:02 PM (1 year, 4 months ago) |
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Quote:
gopher said:

a cryptonomist, his wallet
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Ahab McBathsalts
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Re: savings in paxg? (asante interested in your opinion) [Re: gopher]
#27956563 - 09/18/22 07:44 PM (1 year, 4 months ago) |
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For risk in underlying asset fluctuations I'd probably recommend to just put it in a savings account and eat the 4% loss in inflation. The time frame is too short to take advantage of gold's relative underperformance in recent years.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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gopher
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Re: savings in paxg? (asante interested in your opinion) [Re: Ahab McBathsalts]
#27956598 - 09/18/22 08:13 PM (1 year, 4 months ago) |
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The only thing I worry about is I have trouble saving, I tend to want to swipe my credit card if I think I have an extra $20 to spare
I'd probably do better with the money in an envelope under my bed than in a savings account
-------------------- 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
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Ahab McBathsalts
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Re: savings in paxg? (asante interested in your opinion) [Re: gopher]
#27956603 - 09/18/22 08:19 PM (1 year, 4 months ago) |
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Savings account are backed by the government up to a high limit, under the mattress is probably not insured for shit. You do you bro. Whatever is going to do what will work for you.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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gopher
Coffee Bean Extraordinaire



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Re: savings in paxg? (asante interested in your opinion) [Re: Ahab McBathsalts]
#27957062 - 09/19/22 08:08 AM (1 year, 4 months ago) |
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Wait you need 430 ozt of paxg to redeem for gold, and have to travel to the UK
This makes it slightly less cool, it'd be achievable if it were 10 ounce bars, but 430 ounce is crazy like 90k dollars
-------------------- 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
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gopher
Coffee Bean Extraordinaire



Registered: 11/22/17
Posts: 12,990
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Re: savings in paxg? (asante interested in your opinion) [Re: gopher]
#27957064 - 09/19/22 08:12 AM (1 year, 4 months ago) |
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And I could save up this money in 15 years but how do I get the 430 oz bar through the airport
-------------------- 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
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Ahab McBathsalts
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Registered: 11/25/02
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Re: savings in paxg? (asante interested in your opinion) [Re: gopher]
#27957782 - 09/19/22 05:27 PM (1 year, 4 months ago) |
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I know mnt.to on the TSX does a similar thing for 100 ounces. You can redeem for physical, but shit that's a lot of money to tie up and the underlying is only warrants and contracts not physical gold.
One would think that a quasi-government organization like the Canadian Mint would be secure enough, but you never know.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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gopher
Coffee Bean Extraordinaire



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Re: savings in paxg? (asante interested in your opinion) [Re: Ahab McBathsalts]
#27957810 - 09/19/22 05:51 PM (1 year, 4 months ago) |
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I think I'm going to put my savings in PSLV and PHYS, silver and gold held in canada
I dunno some guy on reddit scared me of paxg with the word decoupled
I already have 10 shares of PSLV and its up a dollar
They also have a uranium stash but I dont think I'll buy that
-------------------- 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
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Asante
Mage


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Re: savings in paxg? (asante interested in your opinion) [Re: gopher]
#27958510 - 09/20/22 04:19 AM (1 year, 4 months ago) |
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Quote:
gopher said: Wait you need 430 ozt of paxg to redeem for gold, and have to travel to the UK
This makes it slightly less cool, it'd be achievable if it were 10 ounce bars, but 430 ounce is crazy like 90k dollars
nononono!
PAXQ isnt about taking possession, the gold is intended to stay vaulted.
you give them money, your money gets assigned an amount of gold and you withdraw money again from that, thats the service PAXG offers, to temporarily exchange your dollars to grams at a rate comparable to bank-to-bank gold trades.
Basically, islamic banking, and approved as such.
What your money does, is be gold. for this reason i recommend them for relatively small sums and reklatively short times. If you get over U$D 10K its better to take possession.
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Asante
Mage


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Re: savings in paxg? (asante interested in your opinion) [Re: Asante]
#27958516 - 09/20/22 04:36 AM (1 year, 4 months ago) |
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Released less than a week ago:
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gopher
Coffee Bean Extraordinaire



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Re: savings in paxg? (asante interested in your opinion) [Re: Asante]
#27958675 - 09/20/22 08:31 AM (1 year, 4 months ago) |
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I decided what I'm going to do, Im going to put money into a wide amount of places on wealth simple, paxg, xlm, PSLV, PHYS, maybe some stocks too
Sell it all in may and see if I have more or less than 4.5k I put in over that time
-------------------- 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
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gopher
Coffee Bean Extraordinaire



Registered: 11/22/17
Posts: 12,990
Loc: Canada
Last seen: 12 hours, 32 minutes
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Re: savings in paxg? (asante interested in your opinion) [Re: gopher]
#27958678 - 09/20/22 08:33 AM (1 year, 4 months ago) |
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WIt I meant 3.7k I'm just gone a put In $400 a month and I already have .5 in
-------------------- 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
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