Hey all, just wanted to share something that I went through. I went to a gold shop yesterday to try and sell some of the last gold that I had from my pre-Bitcoin days to buy the current Bitcoin dip. I had to fill in a form declaring the origin of my gold and to release the shop of any liability if the police or Central Bank were to investigate the transaction. I was told that the boss of the shop didn't accept my sale, as I did not have any receipts. The coins that I was trying to sell are numismatic gold coins (not bullion), and so had been bought from other mostly amateur collectors who do not run a business, hence no receipts. The funny thing is, I managed to sell similar coins to the same shop without the forms or hassle about 3 years ago. I do feel that the exits for most assets are indeed closing. What's the use of gold if you can't spend it anywhere and can't exchange it into spendable fiat? Bitcoin really is freedom money since nobody can stop any transaction. Lesson learnt with gold: it's captured, it's obsolete, and it's only gonna get worse.
Discussion
#Bitcoin, not #Crypto, not #Gold too 🤝
I’ve been wondering how they would handle this, given all the gold in Fort Knox is basically worthless. I guess they think gold comes with a UPC symbol.🤦🏻♂️
good morning
Well that sucks. It’s a big ❌ for the fungibility of gold huh
Bitcoin fixes this