I have heard a lot about gold backed assets and currency. For me there is only one gold backed store of wealth, gold. If you don't actually receive gold that you can hold in your hand, then you have nothing. I mean if there were a gold backed coin then I would rather have the gold than a promise of gold.
true, there was site that use to this, ahh yes E gold, wasnt that same what was egold doing saying ur money is backed with gold 
Topic: If Bitcoin was backed by Gold, how would it change its adoption? - page 3. (Read 2867 times)
I think it would make a big difference. People are more familar to gold.
I have heard a lot about gold backed assets and currency. For me there is only one gold backed store of wealth, gold. If you don't actually receive gold that you can hold in your hand, then you have nothing. I mean if there were a gold backed coin then I would rather have the gold than a promise of gold.
Apparently, one altcoin already has precious metal backing:
https://bitcointalk.org/index.php?topic=598224.0;topicseen
https://bitcointalk.org/index.php?topic=598224.0;topicseen
This will fail hard, google the liberaty dollar. That is exactly what is going to happen, MERICA physically can't go kill the owner of bitcoin because their isn't one. Merica is just going to go steal the gold and silver from whoever is holding it to back the crypto, zero questions asked. They use the word terroism and everything is a green light.
Apparently, one altcoin already has precious metal backing:
https://bitcointalk.org/index.php?topic=598224.0;topicseen
https://bitcointalk.org/index.php?topic=598224.0;topicseen
If I were to create an exchange for BTC/Au how would this help or hurt Bitcoin adoption? What kind impacts would this have on cryptocurrencies?
That's not "backing", that's just a market trading pair. Backing means that the currency represents a claim on a redeemable asset. Bitcoin itself functions as the asset.
I think the impact of an exchange that allowed you to leverage your gold for trading instead of hoarding it would be radical. With gold I think it could make headlines. Already there is a site that is doing this with bitcoin and it looks like quite an attractive place for capital!
1broker.com userbase doesn't look like much only because it targets bitcoiners instead of gold bugs (and other non-coiners).
If you offered leverage then you could easily become popular with the right connections and some effort. Maybe next month JPM is recommending your product to clients... And to think, your site has this headline:
1broker.com userbase doesn't look like much only because it targets bitcoiners instead of gold bugs (and other non-coiners).
If you offered leverage then you could easily become popular with the right connections and some effort. Maybe next month JPM is recommending your product to clients... And to think, your site has this headline:
Quote
Don't hoard your Bitcoins gold.
Invest or speculate: Leverages from 1-200.
Invest or speculate: Leverages from 1-200.
If you want more trading of BTC/XAU, get more shops to accept XAU. And BTC!
Actually, I was thinking that one could offer a leveraged gold product backed by bitcoin and controlled by SMS with connection to 1broker. Then, you could offer dollar-value insurance on the bitcoin gained from the gold trade.
Actually, I was thinking that one could offer a leveraged gold product backed by bitcoin and controlled by SMS with connection to 1broker. Then, you could offer dollar-value insurance on the bitcoin gained from the gold trade.
If I were to create an exchange for BTC/Au how would this help or hurt Bitcoin adoption? What kind impacts would this have on cryptocurrencies?
Well first of of all if it was to be backed, who will it backed by, They will need to have alot of faith for it get backed by gold. but if we did have backers and it was group that was well known then it could help it, but it might hurt it as well.
If I were to create an exchange for BTC/Au how would this help or hurt Bitcoin adoption? What kind impacts would this have on cryptocurrencies?
Jump to: