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Nora

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  1. What will happen to gold if we go digital

    How does it compare to other gold-backed cryptos that have already been announced, such as OneGram, ZenGold, AurusGold, BullionCoin, RoyalMintGold, and others?
  2. What will happen to gold if we go digital

    That sounds great, @sixgun. What will the cryptocurrency be called? Does it have a website?
  3. What will happen to gold if we go digital

    I totally agree. From the research I've done, it seems that this is possible with most gold-backed cryptocurrencies. I've read through several whitepapers and most describe a process to withdraw physical gold (and yes, often with a fee applied). Some, such as OneGram, ZenGold, and GoldMint, destroy the crypto-asset when the physical gold is withdrawn. There is another cryptocurrency, called GoldCrypto, that is backing their coins by gold in the ground, and so one won't be able to withdraw physical gold until several years from now when it is mined.
  4. What will happen to gold if we go digital

    I can see where you are coming from, but they do have physical gold vaulted that legally belongs to you, right? Isn't that no different than vaulting your coins anywhere (besides at your own home)?
  5. Hello Silver Forum Members!

    I agree, it's really cool to imagine. I also like to think about what people may have bought with these coins, such as a nickel for a toy at a local five-and-dime store, or a dime for freshly baked loaf of bread.
  6. What will happen to gold if we go digital

    Yeah, I agree that Bitcoin is a fiat currency, but I do think that it is superior to government fiat currency because it is democratized and programmed to be limited. Something that I have been reading about recently that I think are really cool are gold-backed cryptocurrencies, which could potentially join the security and intrinsic value of gold with the convenience of a digital currency.
  7. Hello everyone! I'm really interested in precious metals so I look forward to getting to talk about that on here. I recently got some bags of junk silver that I sorted through (with the oldest coins from the 1890's!) so I'll have to post photos of that sometime. I am also interested cryptocurrencies backed by gold, which I was researching recently and found that there a few of them. Has anyone here invested in something like that? Hope to hear from you all soon! Nora
  8. The cost of cryptocurrencies seems very volatile, whereas the value of gold and silver seem relatively stable (increasing in price over time mostly because paper money is decreasing in value), so I don't think that they would be connected inversely like that, especially since recently some cryptocurrencies are coming out that are actually backed by gold. Has anyone heard of these gold-backed cryptocurrencies? I have been really interested in them recently.