Want To Invest In Real And Virtual Gold? US Commodities Dealer Accepts Bitcoins As Payment
- US commodities dealer Agora Commodities this week took a bold step in offering the purchase of precious metal commodities in exchange for payment by Bitcoin. Virtual currencies, it seems, are now a powerful tool.
North American commodities dealer Agora Commodities has this week made a bold step by offering traders and investors the option of buying a series of precious metals including gold, silver, platinum and palladium in exchange for Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term.
Virtual Currency Buys The Real Thing
Agora Commodities is the first company to offer a physical commodity which can be paid for with virtual currency, the transaction value of which is likely to be subject to extreme variations as gold has known parameters, being an established, physical resource, whereas Bitcoin does not, as it is a virtual media with only a short history and often extreme fluctuations in value.
The Price Of Privacy
Yesterday, Joseph Castillo, President of Agora Commodities stated on behalf of his firm that he believes that privacy is no longer the precious commodity that it once was, and that in allowing commodity transactions to take place using Bitcoins displays to its customers that it intends to preserve anonymity and display respect for the privacy of its clients and their investments.
Mr. Castillo’s statement reads as follows: “In today’s world, privacy is quickly turning into one of the people’s most precious commodities. I was inspired by an ISP provider in Utah that refused to give his customers data over to authorities when it was not properly requested with a warrant. Agora Commodities first and foremost respects its customers’ privacy. This was the best way to show that respect”.
Investors Eschew Banks, Regulators Eschew Bitcoins
A point of interest here is that whilst this method of payment offers clients a means of investing in precious metals anonymously, thus circumventing government surveillance or capital controls such as exist in Argentina as reported by Forex Magnates last week, performing anti-money-laundering (AML) and know-your-client (KYC) procedures in order to satisfy regulatory requirements could prove to be an arduous process.
Last month, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates reported that Bitcoin network BTC Global was in the process of implementing a crowdsourced regulatory structure which goes some way toward resolving the actual compliance issues associated with virtual currency itself, however if an individual or organization wishes to purchase commodities anonymously, and the payment arrives with the commodities dealer with no ownership or originator details, this is likely to attract the attention of the regulator.
Gold And Bitcoin:
The Currencies Of The Future?
Bearing in mind that since 2008, the previously water-tight trust in the banking system is beginning to wane, assisted by various financial crises in the Eurozone and North America, IMF bailouts, nationalization of banks and this year, the first bail-in which took place in Cyprus, relieving depositors of up to 60% of their own funds to help pay the unserviceable debts of two of the nations banks, and setting a pan-European precedent.
In other nations such as Argentina and China, the government exercises strict control on capital transfer, restricting citizens' funds to domestic banking systems and markets, a practice often unpopular with those subject to such procedures.
These factors have contributed to a switch toward investment in other mediums, as money in the bank does not provide the safe haven that it used to. By offering gold and Bitcoin, Agora Commodities could well be embracing the two currencies of the future.
North American commodities dealer Agora Commodities has this week made a bold step by offering traders and investors the option of buying a series of precious metals including gold, silver, platinum and palladium in exchange for Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term.
Virtual Currency Buys The Real Thing
Agora Commodities is the first company to offer a physical commodity which can be paid for with virtual currency, the transaction value of which is likely to be subject to extreme variations as gold has known parameters, being an established, physical resource, whereas Bitcoin does not, as it is a virtual media with only a short history and often extreme fluctuations in value.
The Price Of Privacy
Yesterday, Joseph Castillo, President of Agora Commodities stated on behalf of his firm that he believes that privacy is no longer the precious commodity that it once was, and that in allowing commodity transactions to take place using Bitcoins displays to its customers that it intends to preserve anonymity and display respect for the privacy of its clients and their investments.
Mr. Castillo’s statement reads as follows: “In today’s world, privacy is quickly turning into one of the people’s most precious commodities. I was inspired by an ISP provider in Utah that refused to give his customers data over to authorities when it was not properly requested with a warrant. Agora Commodities first and foremost respects its customers’ privacy. This was the best way to show that respect”.
Investors Eschew Banks, Regulators Eschew Bitcoins
A point of interest here is that whilst this method of payment offers clients a means of investing in precious metals anonymously, thus circumventing government surveillance or capital controls such as exist in Argentina as reported by Forex Magnates last week, performing anti-money-laundering (AML) and know-your-client (KYC) procedures in order to satisfy regulatory requirements could prove to be an arduous process.
Last month, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates reported that Bitcoin network BTC Global was in the process of implementing a crowdsourced regulatory structure which goes some way toward resolving the actual compliance issues associated with virtual currency itself, however if an individual or organization wishes to purchase commodities anonymously, and the payment arrives with the commodities dealer with no ownership or originator details, this is likely to attract the attention of the regulator.
Gold And Bitcoin:
The Currencies Of The Future?
Bearing in mind that since 2008, the previously water-tight trust in the banking system is beginning to wane, assisted by various financial crises in the Eurozone and North America, IMF bailouts, nationalization of banks and this year, the first bail-in which took place in Cyprus, relieving depositors of up to 60% of their own funds to help pay the unserviceable debts of two of the nations banks, and setting a pan-European precedent.
In other nations such as Argentina and China, the government exercises strict control on capital transfer, restricting citizens' funds to domestic banking systems and markets, a practice often unpopular with those subject to such procedures.
These factors have contributed to a switch toward investment in other mediums, as money in the bank does not provide the safe haven that it used to. By offering gold and Bitcoin, Agora Commodities could well be embracing the two currencies of the future.