SBD for Gold bullion!!!!!!
Hi Everyone
I was just thinking how rad it would be if someone started selling gold and silver bullion for SBD. I don't think it would be hard to set up either
What do you guys think?
Should I set up a nice little Gold for SBD trial business?
I would be doing it in Australia so I would only be able to do the trail locally.
I would also have to sell them at a premium to cover the costs of getting the money out to buy more : )
Anyone have any idea if this is breaking a law I haven't thought of?
Please Resteem if you think I should do it!
You might have problems with money laundering laws, but I for one would be interested if you can figure it out and the buy/sell spread is reasonable.
I am guessing there are probably lots of laws I am missing here ;(
The buy/sell spread will be a problem though for sure! I would have the extra costs of shipping, bank fees, and a little profit to make it worth while. It might be possible on a 1oz gold but I think the cost would be too high for silver
I am more interested in the gold anyway. Have a look at this site :-
www.silverstackers.com
There are a lot of Australian stackers there trading the secondary gold/silver market there and some of them accept crypto. What you're suggesting has been done before, just maybe not as a business.
@tony10 The question I have is what are you Selling ?? I see that you are bartering Peer to Peer, currency for currency.
Its just an idea at this stage. But I was thinking if I could sell a gold or silver coin for SBD then convert the SBD into currency and buy another (Repeat over and over) it might be a business people would have interest in.
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