Topic: A coin based on BTC and gold = possible? (Read 1100 times)
Gold is useless except for jewelry, and to me it is obsolete as a store of value now that we have cryptocurrency.
maybe something similar to a gold dinar that can be freely traded
Hi,
first im a really big noob in technic around bitcoin and cryptocoins.
I just ask myself if its possible to create a coin based on a spezific amount of gold and Btc (no clear distribution yet, but 50/50 for example)?
How could this work technically?
I do not talk about store psysical gold - it should be do with gold on paper.
What can you say about this?
fiat were based on gold, but it's a thing of the past it's no used anymore to be backed by gold, it's better to be backed by supply and demand like bitcoin, some coins like you want tried this in the past like gold coin, but they failed, because they had no the money to back it with gold, you have that someone should invest big for this to be true, i can't see this happening without incentive
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I mean a coin backed by gold and Bitcoins - is this possible or are there any logic problems i do not see?
My question is, how are you going to keep the price of any crypto pegged to any set value? Anything that gets traded on exchanges is going to take on a price of its own, as market forces dictate. Who would decree that Coin_X should be valued at the price of gold, silver, the US dollar, or anything else. And then there's the question of why this would even be necessary. I don't think it is; I think it's a terrible idea that is unnecessary. If you want gold, buy gold. Or buy a gold ETF. Or buy gold mining stocks. Crypto should not come into this equation.The idea is found a easy using money for all, backed with xamount of gold (paper) and xBTC - just name it Credit and the whole world using it.
It's clear that there will be comming a world wide currentcy - so why not backed on gold and BTC - that would give the BTC more a status like gold and not fast using capital. There would be physical and digital "gold" backed a worldwide using currentcy...
Hi,
first im a really big noob in technic around bitcoin and cryptocoins.
I just ask myself if its possible to create a coin based on a spezific amount of gold and Btc (no clear distribution yet, but 50/50 for example)?
How could this work technically?
I do not talk about store psysical gold - it should be do with gold on paper.
What can you say about this?
I heard and see so many coins doing this already but all end up as scam.
I mean a coin backed by gold and Bitcoins - is this possible or are there any logic problems i do not see?
My question is, how are you going to keep the price of any crypto pegged to any set value? Anything that gets traded on exchanges is going to take on a price of its own, as market forces dictate. Who would decree that Coin_X should be valued at the price of gold, silver, the US dollar, or anything else. And then there's the question of why this would even be necessary. I don't think it is; I think it's a terrible idea that is unnecessary. If you want gold, buy gold. Or buy a gold ETF. Or buy gold mining stocks. Crypto should not come into this equation.
There are people working on this, but most are struggling to find success in the space. A couple coins recently have come out trying to work on this as well.
Even there would be a better using with that altcoin on one central free chain. This would takes alot of transactions from bitcoin .
Hi,
first im a really big noob in technic around bitcoin and cryptocoins.
I just ask myself if its possible to create a coin based on a spezific amount of gold and Btc (no clear distribution yet, but 50/50 for example)?
How could this work technically?
I do not talk about store psysical gold - it should be do with gold on paper.
What can you say about this?
because still there are gold out there that not be mined, it will be difficult for write amount of gold around the world on the paper
to be combinated with amount of digital coins.
Hi,
first im a really big noob in technic around bitcoin and cryptocoins.
I just ask myself if its possible to create a coin based on a spezific amount of gold and Btc (no clear distribution yet, but 50/50 for example)?
How could this work technically?
I do not talk about store psysical gold - it should be do with gold on paper.
What can you say about this?
There is no Gold on paper.
Xaurum is coin backed with gold. $18m marketcap. what is quite some.
Hi,
first im a really big noob in technic around bitcoin and cryptocoins.
I just ask myself if its possible to create a coin based on a spezific amount of gold and Btc (no clear distribution yet, but 50/50 for example)?
How could this work technically?
I do not talk about store psysical gold - it should be do with gold on paper.
What can you say about this?
This question has been asked many times.
Cryptocurrency's main principle is trust-less-ness.
Backing a currency with something removes this trust-less-ness as you suddenly have to trust some company to make good on the backing, hence it makes no sense for a cryptocurrency.
Cryptocurrency's main principle is trust-less-ness.
Backing a currency with something removes this trust-less-ness as you suddenly have to trust some company to make good on the backing, hence it makes no sense for a cryptocurrency.
Funny thing really is that probably 95%-99% of the people in crypto don't give a shit any more about the whole purpose behind crypto currency. All they want is to make money and turn the real crypto currencies into standard financial institutions. Almost all the crap stuff that's come out in the last few years has been nothing but money making schemes, "coins" being controlled by a few individuals and those run by new big business. It's extremely sad that they all just use a blockchain and call it crypto currency.
Thats true.
But there will be freedoom fighters who run the system open source and visible free for every human on earth.
I just think about combine gold and Bitcoin in one credit.
Search "Spots" coin from 2013.. ask iGotSpots here.
This question has been asked many times.
Cryptocurrency's main principle is trust-less-ness.
Backing a currency with something removes this trust-less-ness as you suddenly have to trust some company to make good on the backing, hence it makes no sense for a cryptocurrency.
Cryptocurrency's main principle is trust-less-ness.
Backing a currency with something removes this trust-less-ness as you suddenly have to trust some company to make good on the backing, hence it makes no sense for a cryptocurrency.
Funny thing really is that probably 95%-99% of the people in crypto don't give a shit any more about the whole purpose behind crypto currency. All they want is to make money and turn the real crypto currencies into standard financial institutions. Almost all the crap stuff that's come out in the last few years has been nothing but money making schemes, "coins" being controlled by a few individuals and those run by new big business. It's extremely sad that they all just use a blockchain and call it crypto currency.
This question has been asked many times.
Cryptocurrency's main principle is trust-less-ness.
Backing a currency with something removes this trust-less-ness as you suddenly have to trust some company to make good on the backing, hence it makes no sense for a cryptocurrency.
Cryptocurrency's main principle is trust-less-ness.
Backing a currency with something removes this trust-less-ness as you suddenly have to trust some company to make good on the backing, hence it makes no sense for a cryptocurrency.
That's an argument.
This would build privat banks out of it.
This question has been asked many times.
Cryptocurrency's main principle is trust-less-ness.
Backing a currency with something removes this trust-less-ness as you suddenly have to trust some company to make good on the backing, hence it makes no sense for a cryptocurrency.
Cryptocurrency's main principle is trust-less-ness.
Backing a currency with something removes this trust-less-ness as you suddenly have to trust some company to make good on the backing, hence it makes no sense for a cryptocurrency.
I mean a coin backed by gold and Bitcoins - is this possible or are there any logic problems i do not see?
Hi,
first im a really big noob in technic around bitcoin and cryptocoins.
I just ask myself if its possible to create a coin based on a spezific amount of gold and Btc (no clear distribution yet, but 50/50 for example)?
How could this work technically?
I do not talk about store psysical gold - it should be do with gold on paper.
What can you say about this?
Looks interesting - but it only backed by gold right?
Hi,
first im a really big noob in technic around bitcoin and cryptocoins.
I just ask myself if its possible to create a coin based on a spezific amount of gold and Btc (no clear distribution yet, but 50/50 for example)?
How could this work technically?
I do not talk about store psysical gold - it should be do with gold on paper.
What can you say about this?
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