The Potential of Goldmoney.com's new iPhone Application

3 posts / 0 new
Last post
JAG's picture
JAG
Status: Diamond Member (Offline)
Joined: Oct 26 2008
Posts: 2492
The Potential of Goldmoney.com's new iPhone Application

James Turk at Goldmoney.com just recently released an application for the iPhone that allows a person to remotely transfer units of gold and silver to other account holders. I think this has real potential to become a new form of monetary exchange. For example, if a particular merchant has an account with goldmoney.com, you could purchase an item from them by using your iPhone to transfer the appropriate amount of gold or silver units into their account. Of course, I am a little concerned about the potential for "digital warfare". As I know just enough about computers and the internet to be paranoid, I use a personal VPN connection to secure the use of my iPhone. I think this, in conjunction with the auto-lock on my iPhone, mitigates some of these concerns. I do believe the convenience of this process might encourage some people to allocate some of their bullion holdings into the digital realm. 

I bought this application thinking that it would allow me to monitor the price of PMs and execute trades remotely. Unfortunately, this doesn't seem to be a reality, yet. However, the ability to transfer PM units may become seriously valuable in our uncertain future. What are your thoughts on this?

Thanks for your time,

Jeff 

 

james_knight_chaucer's picture
james_knight_chaucer
Status: Silver Member (Offline)
Joined: Feb 21 2009
Posts: 160
Re: The Potential of Goldmoney.com's new iPhone Application

In view of the Fed's confiscation of gold during the last recession, I would suggest American citizens are very cautious about investing in gold or silver. I guess it would be safe enough to buy from a jeweller, but any time you have to give your name and address for it, Uncle Sam will know where to come for it.

DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Re: The Potential of Goldmoney.com's new iPhone Application

jageanangel - I hold an account with GoldMoney but have not yet used the new iPhone service.  I agree it has potential but so far few have taken advantage of the ability to conduct transactions via GoldGrams.  You can put some manual checks in GoldGram transactions but I'm not sure about the iPhone - you raise a good point about security.  I'm not sure if this new service will entice others to utilize a gold account but I sure it does.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments