timeinc.net
In another significant step for the adoption of bitcoin, a Brisbane based gold and silver dealer announced just yesterday afternoon that they are now offering Bitcoin buy & sell functionality, secure paper wallet creation, allocated physical wallet storage and the ability to buy or sell metal with Bitcoin.
This is a significant release and one I've been excited to announce for some time. It allows for totally fiat-free precious metal transactions.
Here is the announcement verbatim:
The Federal government has formally acknowledged Bitcoin (and similar crypto currencies) as a currency and removing the GST ‘double dip’ when using it to purchase goods in Australia or buying as a company or from a company.Ainslie Bullion will now accept Bitcoin as currency for buying and selling bullion. You can also buy and sell Bitcoin directly with Ainslie, without any bullion involved and you can even have Ainslie completely manage your holdings just like we do for Allocated Bullion Storage customers, called an Ainslie Bitcoin Storage Account.
Why Bitcoin?
Bitcoin and other ‘crypto currencies’ are an emerging form of alternative money and investment class. Their popularity is growing as more and more people lose faith in fiat currencies, financial institutions and debt inflated financial markets. Whilst we don’t believe they yet present the same fundamental monetary properties of gold and silver, we’ll concede that 5,000 years ago the same may have been said for gold and silver…
Ultimately Ainslie Bullion wants to provide customers with options to protect and grow their wealth outside of financial markets and banks holding fiat currency. The former has been artificially inflated by monetary stimulus since the GFC, and the latter debased and destabilised by it. We encourage everyone to read Why Buy Bullion for more information on this topic. Many believe Bitcoin and other crypto currencies are still at formative prices and the gains have only just begun. Ainslie provides an exceptionally easy and incredibly secure platform for you to enter this market.
We also appreciate there may be many holders of Bitcoin / crypto currencies that are sitting on enormous gains and are now looking to invest these gains elsewhere. Buying gold and silver with your Bitcoin / crypto currency means you achieve 2 things:
You defer any capital gain event as you are not selling your Bitcoin / crypto currency; you are spending it.
On any dispassionate look at the charts, it would appear gold and silver are coming up off (or close to) a bottom whilst Bitcoin and other crypto’s have had an incredible run up in price of late. Some may be motivated by a sell high – buy low play, some may just want to hedge, or take a little profit. Only you can know.
How?We’ve set up a system to generate new wallets completely off line so you can come into our secure store, pay cash or credit card and walk out with our own Ainslie Crypto Wallet loaded with Bitcoin completely secure and off line. If you already have your own wallet you can buy (online, by phone or in store) and sell with us or buy or sell bullion for Bitcoin as well. Our Ainslie Bitcoin Storage Account means we look after all this for you and, just like bullion storage give you a current certificate of holding and end of year statements to keep your accountant or SMSF auditor happy.
We are excited to offer this new product and service and encourage you to go to our webpage now to learn more.
Awesome news. Maybe tuck some crypto profits into PM
I suspect that that will be tempting for many @stephen-somers. Makes it a really convenient set of services on offer"out of the box" now.
bitcoin has become popular and is trading in several countries and is likely to rise in price soon
Hi @spartacuss. I agree. In fact it's back at all time highs again. Thanks for the comment.
Thanks 👍😃
Good for you. You Aussies are much more accepting of Bitcoin/Crypto than we in the states (thank you, IRS). Hopefully someday!
It is good to see. Thanks @sirstackalot. I think it's now an undeniable trend with different countries adopting at different speeds due to different hurdles.
I just bought my first crypto on coinspot.com.au. A lot of Australian crypto businesses are getting established.
Congratulations @croat! Welcome to the future!
Thanks @nolnocluap.
Years ago, when Bitcoin first came out and was trading at 0.003, I read about it and was serious going to buy a few hudnred dollars worth. I talked myself out of it!🙈
I think there are plenty of people kicking themselves for doing just that @croat so you're not alone there!
True. I'm not kicking myself. I'm actually laughing about it.
I honestly think a second wave will come. I can learn from my past mistakes.👌
Shrewd & percipient move! Going ahead in the right direction — for sure...
Agreed @cash22. I remember suggesting the move some time ago... perhaps less than a year and at the time it was deemed to be not worth implementing. That it's now been done speaks to how far crypto adoption has progressed.
This is really good news. I wonder if the whole transaction could be anonymous?
Hi @dwhntx... it's great news yes. I can't see why the whole transaction can't be anonymous in the same way that it is with cash. Even more so as there's no "withdrawal" at the bank or ATM.
Exciting isn't it!
Nice Post !! Thankyou So Much !!!
My pleasure @pinder!! Thanks for your support.
That's great that it's becoming more and more accepted. Surprised to hear them put this right out there in the press release;
"Their popularity is growing as more and more people lose faith in fiat currencies, financial institutions and debt inflated financial markets."
Agreed @phelimint. I guess it puts into words what we are all thinking anyway.
Excellent news, thanks for sharing !!!
My pleasure @kman9. Thanks for your comment.
Definitely worth an upvote and a resteem :]
Greatly appreciated @imbritish! Thank you
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STOPExciting news, thanks for sharing! Now following, pls follow back if you feel inclined
Thank you @kp138 😊
Nom!
As will more and more businesses continue to do.
Looking forward to it @enginewitty