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Title: Why can't someone make a gold or other metal backed coin? Post by: nextgencoin on April 29, 2014, 07:06:09 PM Crypto really needs backing from a real world standard of value like a precious metal etc. Why has no one done this yet?
it's seems the holy grail of crypto. A currency beyond manipulation that holds value in a stable and tangible way. Wouldn't all it take a gold storage facility guaranteeing a certain amount of bitcoin for Gold? Title: Re: Why can't someone make a gold or other metal backed coin? Post by: hilariousandco on April 29, 2014, 07:09:30 PM Somebody actually already tried a gold-backed coin. Seems there's a couple actually:
https://www.gldtalk.org/index.php?topic=2179.0 http://www.libertariannews.org/2014/01/17/a-gold-backed-cryptocurrency-not-so-fast/ http://forum.qrk.cc/thread/1996/announcement-gbc-gold-backed-coin Title: Re: Why can't someone make a gold or other metal backed coin? Post by: cryptowho on April 29, 2014, 07:09:43 PM because any good coin are already out.
anything else is to scam new FOMO investors. Why bother going all the way out for something that doesn't need it Title: Re: Why can't someone make a gold or other metal backed coin? Post by: pedrog on April 29, 2014, 08:05:03 PM Why would that be a good thing?
Decentralization is a major point in favor of crypto-currencies. Title: Re: Why can't someone make a gold or other metal backed coin? Post by: voluntarist500 on May 01, 2014, 02:18:00 PM unobtanium might do something like that soon. Just rumours though at this point but not unlikely to happen. Also garantcoin (if i remember the name right) was offering like that.
Goldbacking can also be done kind of decentral with exchanges or community that actively trades metal for crypto. Those things will happen. Keep an eye on uno. |