Buying gold below spot on Vaultoro this morning

Ernest Hemingway Posts

This morning, there is more mass fear in the market. Covid19 is maybe the trigger to end the almost everything bubble.

Here is a secret, I used many times on smaller exchanges, or with more exotic trading pairs.

  • BTC just dumped

  • The buy gold in btc orderbook still has offers for the old price

Looking at the spread on Vaultoro between the real cost of gold in bitcoin and the current orderbook, there were buying opportunities > 5% below spot; hoorray.

Now we have more gold, which we can keep or if we want, eventually once the orderbook has caught up (could be 5 seconds, could be 30 min) we can convert it back into more bitcoins.