We will start working on that in the neat future.
SPECIFICALLY TROY OUNCES. This is a universal standard used to measure precious metals in coins (rounds) and bullion. It is not the same as the US measurement of ounces for weight/volume.
How will a debit card work without adding local/fiat currency to the platform? FIAT CURRENCIES SHOULD BE KEPT FAR AWAY FROM VAULTORO.
FIAT/LOCAL CURRENCIES ARE GARBAGE. Totally worthless. Furthermore, and I’m certain Vaultoro knows this very well; for everyone else, adding fiat currencies adds tremendous reporting and identification requirements to the platform. Governments require that any institution dealing in their currency gather identification and many other things from EACH INDIVIDUAL MEMBER of the institution and pass it along. So if you are asking for local/fiat currency support, you ask to throw away anonymity, flexibility of the platform, and everything that makes Vaultoro great. You also ask to be taxed on all your purchases and returns, because Vaultoro would have to turn over that information too.
We are redeveloping the whole system from ground up so we can launch Silver and Cryptos really quickly.
Adding silver has numerous potential benefits. I don’t envy your administrative headache to make the logistics work though. PLEASE NO ALTCOINS THOUGH. Shapeshift is the perfect integration for this. Just add segwit bitcoin address and transaction support; a suggestion that is also already marked as “PLANNED”....
Just silver. no platinum or palladium. those are industrial metals that have only recently been considered precious. silver and gold have been precious for millenia. but it would be nice to have that option. I understand from an administrative standpoint, that is huge undertaking for vaultoro. But it would separate you guys from every other service even more than you already are.
Vaultoro’s storage fee goes entirely to Pro Aurum, where the gold is held. They also pay for the third party auditing we all enjoy. If you are comfortable giving up these safeguards for a cheaper service, then you can do that. The rest of the platform appreciates what Vaultoro is doing. That’s why we all joined.
I don’t understand what you mean by this. Can you explain further?
There is already a suggestion that is marked as “PLANNED” to implement segwit bitcoin addresses and transactions. This would drastically improve transaction times and drop fees down to the levels you are hoping for. I’d recommend you take your votes from this post and put them on that one. Maybe they will will implement it faster, as it is already accepted as a planned addition to the platform.
Vaultoro will not use other altcoins, nor should they. Shapeshift integration is sufficient. They just need to implement segwit addressing and transaction support.
Having more addresses is less secure. Period. Having only one withdrawal address at a time, requiring 2FA to change it, is the most secure.
God I hope not. Can you imagine the overhead? Those costs pass right through the business and on to you and me.
ALL FIAT/LOCAL CURRENCIES ARE GARBAGE. Totally worthless. Furthermore, and I’m certain Vaultoro knows this very well; for everyone else, adding fiat currencies adds tremendous reporting and identification requirements to the platform. Governments require that any institution dealing in their currency gather identification and many other things from EACH INDIVIDUAL MEMBER of the institution. So if you are asking for local/fiat currency support, you ask to throw away anonymity, flexibility of the platform, and everything that makes Vaultoro great. You also ask to be taxed on all your purchases and returns, because Vaultoro would have to turn over that information too. This is why this platform was originally created, trading bitcoin for gold (a.k.a. Real Money)
The platform already has the setting for 2FA Auth before changing wallet address. And the platform supports 2FA for logging in the first place. It’s up to the individual to make these decisions, as it should be. If you don’t value your money enough to protect it with these integrated solutions, well either you are truly wealthy somehow, or probably you need the expensive lesson...
There is already a posted suggestion to implement segwit for bitcoin addresses. Add your votes to that. This will accomplish very fast transactions, as well as tiny fees. Two great improvements over standard (classic) bitcoin network transactions. Vaultoro will never implement altcoins, for numerous reasons. And truthfully they will never have to, because they have integrated shapeshift. Your votes are wasted staying here.
This was well-documented in the FAQs about getting your metals delivered. You just didn’t read first. I feel for you, but I’d call the loss you refer to the price of a learning experience.
If you do still pull out your holdings, just wait until the gold-bitcoin price is favorable to you and you shouldn’t have a loss.
0 votesColt shared this idea ·
Do some research first and search the proposed improvements before splitting votes. You want segwit addressing. Segwit wallet addresses allow faster transfers on an updated bitcoin network for next-to-nothing in fees. There is no human involvement necessary in a bitcoin transaction. However, the miners (which are machines) that actually make the funds transfer happen have to prioritize your transaction over the act of mining the algorithm for new Bitcoins that haven’t been awarded yet. The fees they collect make this worth their time. Otherwise they would never make our transactions happen and the whole network would die. Segwit allows them to do this much faster and easier. Therefore the fees are lower. Currently a BTC transfer worth $1,000 USD would cost $25 in fees. The same transfer done from a segwit address to a segwit address would cost $0.55 in fees and be completed much faster. Please search the feature proposal area again and allocate votes to the proposal to implement segwit addresses instead of dividing voters with a new post.
Hi thanks for suggesting Segwit
Segwit is under development..
Thanks for you patience!
Both deposit and withdrawal addresses should support segwit please.
The fees are ludicrous now that BTC is over $15k USD. I would lose $25 just to transfer .06 BTC (about $1000 USD worth) into my Vaultoro using the original wallet addressing system and a fast confirmation ($21 for a normal speed conf). With Segwit that fee would be $1.05 for the fastest confirmation, and only $0.55 for the normal one. The network would be much healthier and your overhead operating costs would likely decrease from using segwit. they certainly couldn't increase once segwit was implemented.