Topic: Bitgold - Legit or scam ? - page 3. (Read 4816 times)

i think still legit. many people in my group still using this site

Well, it won't be the first time no one has taken me seriously … but in the end I was proven to be right.

This is a perfect example of why Internet polls have no statistical relevance. Highly biased sample. "Nine out ten repeat buyers of Brand X prefer it ten to one over all other brands."

You asked for the user experience for BitGold to decide if it is a scam, but what you really want are those people who are heavy BitCoin users (actually, heavy posters on this message board) who might also happen to use BitGold.

Any new folks who came in to answer your question about BitGold won't be taken seriously. Who will be? BitCoin users who don't have BitGold accounts? None of the Newbie posts on this thread have slammed BitCoin. Well, yeah I got pissed off at the "Sock Puppet" comment and brought up Mt. Gox. But that was in context of BitGold being a scam. BitGold isn't a scam. Now whether it is or will continue to be a well-run viable company is a different question.

I see a lot of new accounts that are getting created just for posting this review ,so ... Newbie - Junior members accounts reviews won't be taken seriously .
Keep it coming guys , I'd like to see more .

I freely admit to responding to this thread at the request of BitGold, but I strongly object the fact that I will probably be labeled  "Sock Puppet" for joining this community and responding to this post. I do not work for BitGold and really am just one of their customers.

Truth be told I have a BitCoin wallet, but with no way to deposit to it I lost interest. (Yeah, yeah, blame me for not finding a way to do it). Instead I found BitGold and access was easy and highly functional.

To quote Arlo Guthrie "you've got a lot of damn gall" to accuse BitGold of being a scam after Mt. Gox "lost" 650,000 BTC. Just sayin …

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Executive Summary - Not a scam. It is a serious, well-funded initiative to deploy a gold-based global money alternative to fiat (paper) currency. It appears to have been under development for several years and is founded by a couple of really smart guys. It has many features including extremely low exchange fees (1%), extremely low entry cost, multiple vault locations, prepaid debit card, and access to physical gold.

Take a look at  http://contrafactual.com/2016/01/21/roy-sebag-and-josh-crumb/

Long story - Disclaimer: I am posting this at the request of BitGold via an email (probably from the OP). As an early adopter of the BitGold platform I am more than willing to share my observations. I specifically did not read any of the other replies prior to posting this to avoid any bias.

I joined BitGold shortly after they announced operations in the US last August. After a significant amount of research, I opened an account and deposited $40 US to the New York vault (equivalent to 1.061g Au). I then followed with additional sized deposits to New York and Zurich. One of the things that I like about BitGold is the low cost of 1% per transaction. Shortly thereafter I requested a Prepaid Card. I did not realize it at the time, but the Prepaid Card was still in "beta". The first card said BitGold, the new ones say GoldMoney (BitGold acquired GoldMoney in May of 2015). In November I loaded a few hundred dollars on to the Prepaid Card to cover some emergency costs. Buying gold is easy via ACH transfer from my bank and it takes just a day or two (standard ACH time). I also purchased some gold with a credit card - equally easy. Loading the Prepaid Card through sale of gold also takes about a day (maybe less now). I had no problems using the Prepaid Card.

I have not yet ordered a 10g .9999 fine Au GoldCube, but here are some folks who did …

http://youtu.be/baRa8T_hywA

http://youtu.be/vsYp8s0rps8

BitGold also has nice little perks (that I totally wasn't expecting) like a Birthday Bonus 0.0nn g (where nn is your age, unless this was coincidental) and a recurring ACH bonus (for setting up a recurring ACH deposit - 10% of you recurring deposit up to some limit). Note that this is what I experienced, and I do not guarantee the these perks will continue or be available to every.

There appear to be many loud whiners out there who joined BitGold hoping to get free gold by signing up a lot of people under a special program. BitGold credited these whiners free gold, then took it back when the people they got to sign up failed to buy any gold. This was of course well documented in the terms and conditions. READ THE FINE PRINT. Still these whiners are bad mouthing BitGold because of this. Gotta hate whiners.

Oh, before I forget. BitGold has gone out of its way to be a good global citizen complying with the laws of all countries in which it does business. It has procedures in place to honor Anti Money Laundering and Know Your Customer laws. It uses military strength RSA 4096 and AES 256 encryption to guarantee secure transactions. Two factor authentication is available. Accounts can be accessed securely via website, Apple and Android apps.

Is BitGold as scam? No way, nope, nada, zip, 0  It is the real deal.

Will BitGold/GoldMoney remain a viable concern into the far future? Who knows. Their success will like all new companies depend on growth.

Do your own due diligence at https://www.bitgold.com

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If you don't believe in bitcoin why are you on bitcointalk?, and you say "you don't post on this website often" Your only posts is in the thread which makes you look like a sock-puppet.

LOL, I give a genuine review of the service and I fall into the category as "sockpuppet" . I thought this was a discussion on the service that BitGold offers, i offered in complete details my experience... my bad for not falling into "hero member"  status  like u as I don't post on this website often. I really don't believe BTC has a place as future money. I give a good review and you bash, typical btc advocate no room for pivots in your mindsets.

I would say bitgold WILL BE A SCAM but for now they are "legit", Being a USA member means I can just buy "gold" and sell it, which honestly sucks, but I have a use for bitgold, since the bitgold debit card is the only card I have now that works for buying bitcoins on circle.com, I have cards I load from the store and then buy bitgold then use the bitgold card to buy bitcoins.

But there is random delays when I fund my account and when I can transfer the funds to the bitgold debit card, the whole process can take me up to a week, and honestly there support sucks.

I would never consider to "trust" bitgold, but since load small amounts and then just transfer to my bitgold card and buy bitcoins - its been ok for its use, but I would never consider them for storing funds. I having a feeling they are "ok" now but when they will finally bust/get caught I am sure many people will lose loads of money, well except me lol.

a subject that needs some more discussing imo, especially after seeing this. my original stance outlined in my post is still what i think, especially the part where nothing can really be done regarding the issue as it doesnt go against the forum's rules. its just ridiculous (and funny) to see how over the top obvious it is (the sockpuppeting) with the extremely generous reviews and flawless testimonoals from totally legitimate and real people that claim to have poured thousands into a random site. that discussion would bee off topic in this thread though, maybe ill post again in the meta thread if i have thoughts to add.

those screenshots mean absolutely nothing considering the accusations placed against you (tacitly), if you are a sockpuppet (and by which, im saying you definitely are), its more than possible those screenshots can be faked, or 'created' from the site's end, people arent stupid enough to take everything at face value, especially not here.

Yeah, and in Bitcoinland we have the same sort of thing, it's called the Shill&Scam error.
Usually that is our problem, we try to do something about scammers who think we are stupid, and we see so much crap that we don't have to make it up. I have seen it in (nearly) every company that I have looked at.

The OP is trying to establish the current view around here about BitGold, especially given what's been brought up previously https://bitcointalk.org/index.php?topic=1133534.380
And all we got so far is two bot posts and a BG fan calling complaining users stupid. Way to go.

Just because I figured there would be someone saying something about legitimacy when I posted because I am new, here are screen shots of my account.

Since I am not from the USA, my currency is NIO (which is converted as $1 = c$27.89 NIO)


All transactions

Just wanted you guys to know it is legit. What you guys choose is your own issue.

Edit: Had personal information showing on the first one, removing it from imageshack as well.

A subject we were discussing just recently, is it not, subSTRATA?

 https://bitcointalksearch.org/topic/paid-to-post-is-it-acceptable-1335159

its so obvious it hurts to see. if the operation is really legitimate, it wouldnt need paid sockpuppet shills spamming about how legitimate and totally not sketchy bitgold is. if anything, the sockpuppets make it seem less legitimate.

+1.
Less legit, if anything. The first one is embarrassing.

Hey BitGold, your social media manager is a moron.

I am a new user, but I came across this thread and I wanted to put in my two cents here.

I am a Bitgold user and have been since October 2015. I am not from the USA, so I have the ability to use invoicing and moving money to other accounts (the US is not able to do that the last time I checked).

My experience may differ from others because I use it differently. I personally provide web design and content strategy online, and I use BitGold consistently with this business. Before the invoice feature, I would have my customers pay me through BitGold via my affiliate link. Now that the invoice feature is available, I simply invoice (both one time payments and recurring payments).

I have not had any fees or problems with BitGold that are not lined out in everything they post on their site (TOS yada yada). If I did have an issue (one time I did with a customers account being blocked) I simply talked to them and it was solved within 48 hours. That said, I prefer email communication with them.

I also keep a standard savings in BitGold, and I have never had issues with it.

Customer service:

Phone: The two times I called, the person on the phone did not really seem to know what the hell they were talking about or did not know how to give instructions correctly. That said, these two times were just my experience and I would have to give them a 2 out of 10.

Email: I only use this media to chat with them. I have found that I am almost always answered by the same two people, and they always know what I am trying to say or what point I am trying to get across. I have never had an email not answered within 24 hours. Maybe I am on a special answer always list (which I doubt) but I have to give their email support (both affiliate and standard account support) a nice 9 out of 10.

My experience in fees or money:

Way the hell better than PayPal. 1% overall is good.
Never had anything just randomly leave my account. Not once has a cent been moved without me knowing about it, let alone being the person doing it.

Again, I dont have some kind of diamond member account, just your standard account everyone else has.

I personally will be using BitGold now and in the future. Every company has people who say this or that, and it is because of the customer.

In the IT world we have this special error for special people. It is the U53R error.

Usually that is the problem, nothing anyone can do about stupid people who then turn around and make crap up about a company. I have seen it in every company I have worked for.

all I see are brand new sockpuppets shilling for this site. doesn't make it look more legit

After some serious research and due diligence, I joined BitGold in November 2015 and have appreciated everything that it has allowed me to do.  I have bought grams of gold, redeemed some to the Gold Money card, invited people via the Golden Heart and affiliate programs, sent gifts of gold, engaged in the community forum, and much more.  It is the real deal.

I sold my bitgold (from ref program) for bitcoin here. a centralized site with some questionable actions so far. would not trust.

If you want legit, blockchain proven gold check out digix.

Thanks for the review , I'm still looking for more ! please post if you used them before .

My experience with BitGold has been amazing. They have such a diverse platform in terms of what you can do with gold. This type of service is something that the gold community has been waiting for since 1971 when gold was discontinued from monetary policy (abandoning Brenton Woods).

With gold unequivocally gaining purchasing power over time against all fiat currencies, this company with the technology that it's built upon (Aurum) will empower every single person that decides to utilize the platform to its full potential.

I have deposited thousands of dollars and have never encountered a problem; in fact the process is super efficient as BitGold has solved the liquidity issue with buying gold. I can wake up in the morning, log into my BitGold account and buy assayed and stamped .9995 pure (99.95%) or better bullion at the current gold price on the worldwide spot exchange. The only thing BitGold charges  is a commission of 1%! I'm no longer paying those massive premiums on physical gold. During the process of depositing, I pick the BRINKS vault where I want my physical gold to be stored for FREE (which my gold is fully insured by BRINKS after buying☺).

BitGold’s founders Josh Crumb and Roy Sebag have publicly stated in videos that they spent millions of dollars on building out the legal framework to make this all possible, and were in open dialogue with regulation authorities the entire time when they were building out the technology.

The company is regarded by FINTRAC as a Dealer in Precious Metals and Stone, practices extensive “know your customer” and anti-money laundering policies to protect me from theft. Additionally, all users use bank grade military encryption to secure their accounts and personal information, which is total reassurance that I am safe and secure with BitGold.


I've used my BitGold account for saving gold, sending gold value throughout the world to friends and family, I've redeemed and spent my gold value on my BitGold prepaid card, received gold from loved ones and soon I hope to redeem physical gold cubes which people already have displayed/reviewed their gold cubes on YouTube. Recently BitGold allowed it's user’s to  request payments from customers around the world, so it truly evolving into a full financial network denominated in gold.


Recently, there has been a crowd of people complaining on social channels about the chargebacks on the “referral gold”  that was associated with company's  “Golden heart referral program”. I understand that it's disappointing getting a chargeback (which I did too btw) but it's totally understandable that the company reclaims referral bonuses if the party you refer doesn't deposit into the platform. It clearly states this section 11.3 – “If the recipient of the Promotional Balance has not logged into their BitGold Account for a period exceeding sixty (60) days, and no external deposits of funds has been made into the BitGold Account during such period, BitGold may, at BitGold's discretion, reclaim the Promotional Balances to BitGold's own resources as an unclaimed promotion.” The user’s crying about the clawback never understand the purpose of the Golden heart referral program, as for my understanding from the get-go the program was designed to refer your family and friends. If you did so, there is strong likelihood that your referrals would start utilizing the platform. (due to you educating family/friends). If you were hoping to make a business out of referring BitGold users you could've easily signed up for their affiliate program as this looks to be designed as more of a business-referral program.


I will continually be adding to my gold account for savings/spending, as I plan to fully transfer my fiat checking account into my BitGold account for saving's and transactions.


With the constant devaluations of currencies I truly think we will see Gresham’s law reversed where “good money drives out bad” as people see that their time and effort not being accounted for down the line.


Keep up the great work BitGold!