Good work guy's, nice one. Will send a few CGB to the foundation when I get to my pc.
Been looking into physical bullion, with the possibilities of getting something set up where you can exchange your physical bullion for CB, and vice versa. Without actually needing to send or receive any physical bullion in the process....unless you really have to hold it in your hand.
Take a look at this site for example
www.bullionvault.comSooner or later sites like this will be accepting crypto to trade for physical bullion on a massive scale. (If they are not already??) With our name, and resilience, we stand a chance if we get in early to corner some of this inevitably huge market.
What u think?
Brief explanation about buying physical bullion, and where I got the link
http://www.learnmoney.co.uk/advice/advice-18.htmlHey Killiz! I am all for trading CGB and physical bullion. A few things to note:
- It has to include delivery and physical acquisition by the customer. We cannot endorse a centralized store of value which can report having more metal than it does.
- As part of a service that a CryptoMall can provide, this could work quite well. In person trust and usage of safety deposit boxes for example may work well on this smaller scale.
- Remember, we are thinking decentralized *everything* here as much as possible. Trust of people is for profit motivated schemes, we trust in the physics of cryptography here
Hey PSD.
Yes I see your reasoning about actually delivering, receiving and 'holding' physical bullion, it makes sense. Although for everyday folk and physical bullion traders, this is not such an issue.
If cryptos were to become mainstream, as it is quite obvious now that it may well be. Every day folk won't give a toss about decentralisation and being separated from the state and so on and so on.......
I haven't seen much enthusiasm toward the goal of associating CGB with the 'on the ground' project. Although this is a concept that I agree with, I see no value in directly associating CB with it primarily, but if you
must personally persue, and take CGB along with it, then so be it.
Cryptos are about to hit mainstream, big time! If we don't adapt to the majority way of thinking and not some sort of rebel libitarian way of responding to current situations then we are going to remain a libitarian outspoken minority.
We have to act like sheep, and follow the sheep before us. If we see one turn in a certain direction and the rest follow, then we must catch up and be that forerunner sheep.
We need some development occurring. Publicity is fantastic, but we need some meat and bones to sink our teeth into, not some libitarian dream that some folk have splashed across our faces.
Killiz UK England
Longtime CGB Investor, supporter, holder, believer and follower.
Wow this has been an awesome series of posts just now guys
The problem we are encountering might be that I have not had a chance to fully develop the ideas onto paper, though much has already been said in the development workshops.
Let me try to break down the role of CryptoTown and its relationship with CGB, perhaps it will make a bit more sense.
- CryptoTown is a project to develop a suite of resources and tools for spreading the adoption of cryptocurrencies.
- The project is small right now and needs help to build up the resource library and official guide.
- No one is in charge, in that, if a cryptocoin community wishes to participate, there is no structure in place to limit that.
- Coin Neutral. Limited to nonbiased, objective information and resources from respective communities.
- CryptoMalls are independent. This decentralized structure has implications reminiscent of cryptocurrency use itself.
CGB's interest in the CryptoTown project:
- Connect with CryptoMall volunteers to develop/program real world CGB application. eg. businesses testing CGB Wallet software and reporting on business integration issues.
- Encourage businesses to accept CGB based on the array of resources available to them which supports CGB. eg. a paper wallet tutorial for CGB developed by CGB community and made known to the CryptoTown project. Makes it easier for businesses to learn how to store CGB.
- We are a smaller, but more dynamic community. It's projects like this which help to show that we have a larger, better thought out view, without the narrow profit focus.
- No commitment is required. The Cryptotown Project will develop over time with help from a diverse range of crypto enthusiasts. As it matures it will only become more useful to cryptocurrency adoption. No single coin community will be responsible for this progression.
So what has changed? We are simply focusing our efforts on adoption of cryptocurrencies, in order to make the environment in which CGB can thrive, come to be. It's tough to think of a more potent goal. Progress has been made so rapidly that there is little time for anyone yet to understand (aside from those working on it) what CryptoTown really is, let alone document it. I hope this post clears up how this is a huge opportunity for CGB.
This post on the /r/CryptoTown sub might also help
I don't see why people should not use any crypto to buy physical bullions and let it be stored somewhere else, that's their choice. Basically it's the same as using an online wallet service or storing coins on an exchange, not that I would recommend it but many do so. CGB fits the trade as soon as the price is more appreciated. If a company wants to buy a large load with CGB but needs to buy 25% of all existing CGB's for it... that's not realistic but when marketcap is beyond US$25 mil then he only has to buy 0.25% of all existing CGB's and that could happen more easy
Fractional-reserve banking is not a good idea though if that's what you meant.
That sort of service would only have a real impact if it was offering some advantage over other methods of acquiring bullion e.g. Specially Trusted storage of phyz PM, anonymous end-to-end transactions etc..
Excellent point Majormax, and the root of this particular discussion is this: Bullion dealers are just businesses. Let's get them into the fold utilizing aspects of the CryptoTown project. Let's say the CGB community starts a global CryptoMall for precious metals dealers who accept crypto. This is powerful stuff.
Keep the ideas and questions flowing!
papersheepdog, Canada