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Buying PMs with crypto

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Buying PMs with crypto

Postby IdahoCopper » Mon Apr 19, 2021 7:19 am

Does anyone have experience with buying PMs from trusted, well known bullion sales companies? I am thinking of companies like Apmex, JMbullion, etc.

How did it work out for you?
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Re: Buying PMs with crypto

Postby JadeDragon » Mon Apr 19, 2021 11:22 am

I don’t do crypto but I happened to read this page about buying gold with bitcoin the other day. These guys are a big dealer in Canada. https://silvergoldbull.ca/buy-gold-with-bitcoin
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Re: Buying PMs with crypto

Postby Cu Penny Hoarder » Wed Apr 21, 2021 10:36 am

IdahoCopper wrote:Does anyone have experience with buying PMs from trusted, well known bullion sales companies? I am thinking of companies like Apmex, JMbullion, etc.

How did it work out for you?


Could this be way of getting around paying capital gains on crypto profits? I guess the exchange still sends a 1099 to the IRS, right?
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Re: Buying PMs with crypto

Postby JJM » Wed Apr 21, 2021 3:55 pm

Idahocopper, weren't you the guy that used to take crypto for jerkey but then later lost the passcode to your crypto?

Did you find it? Hope so!

I sure wish I would have put that Bitcoin mining rig together when I first read about it on here ~10 years ago....lol
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Re: Buying PMs with crypto

Postby IdahoCopper » Thu Apr 22, 2021 9:16 am

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Last edited by IdahoCopper on Sat Apr 24, 2021 5:26 am, edited 1 time in total.
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Re: Buying PMs with crypto

Postby IdahoCopper » Thu Apr 22, 2021 9:22 am

JJM wrote:Idahocopper, weren't you the guy that used to take crypto for jerkey but then later lost the passcode to your crypto?

Did you find it? Hope so!

I sure wish I would have put that Bitcoin mining rig together when I first read about it on here ~10 years ago....lol


Yes, I did. The wallet I used to store that saved BTC from jerky has the lost password. Its value today is $257,000. My cost/loss for that was ~$1700.

The wallet is a Bitcoin Core wallet so every week, I boot up the Bitcoin Core program so the blockchain can re-sync. It takes 3-4 hours to update the blockchain for the week's transactions. I check my wallet's balance to see if the criminals already got it. Maybe someday I can hire a quantum computer to crack it and I will get the BTC before the criminals get it.
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Re: Buying PMs with crypto

Postby JadeDragon » Thu Apr 22, 2021 12:08 pm

This story makes me want to cry. Never losing the password to my metal or real estate.
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Re: Buying PMs with crypto

Postby HD-Daddy » Tue Apr 27, 2021 3:27 pm

Money Metal Exchange in Idaho (I believe) will sell PM's using crypto direct from wallet.
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Re: Buying PMs with crypto

Postby IdahoCopper » Wed Apr 28, 2021 7:27 am

HD-Daddy wrote:Money Metal Exchange in Idaho (I believe) will sell PM's using crypto direct from wallet.


Thank you for this info.
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Re: Buying PMs with crypto

Postby JJM » Thu May 06, 2021 9:14 am

IdahoCopper wrote:
JJM wrote:Idahocopper, weren't you the guy that used to take crypto for jerkey but then later lost the passcode to your crypto?

Did you find it? Hope so!

I sure wish I would have put that Bitcoin mining rig together when I first read about it on here ~10 years ago....lol


Yes, I did. The wallet I used to store that saved BTC from jerky has the lost password. Its value today is $257,000. My cost/loss for that was ~$1700.

The wallet is a Bitcoin Core wallet so every week, I boot up the Bitcoin Core program so the blockchain can re-sync. It takes 3-4 hours to update the blockchain for the week's transactions. I check my wallet's balance to see if the criminals already got it. Maybe someday I can hire a quantum computer to crack it and I will get the BTC before the criminals get it.


We're pulling for you, hoping for the best!
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