Bitcoin Forum

Is gold and silver really the answer though?    In this age, relative to information, they are bulky, cumbersome, and expensive to store and secure.  Because of this,
they are highly susceptible fraud.  Why do you think global supply is so over-represented in 'paper-ounces' on the comex?  It's because those people are not interested in the underlying commodities, they are interested in making some slave-money.  When you create many paper-ounces, you can control the prices. 

So the question then becomes 'how can you stop the over-representation of precious metal?' 

Blockchain is not a good answer here because you cannot tie it to the physical world without trusted third parties.   I am not sure there is a good answer. 

Ron Paul has been talking that way since 2004. Gold was $1660/ounce in 2014 and Silver was $38/ounce in 2013. Look at gold and silver price now.

Donald Trump should have a meeting with Ron Paul and solve his problems and information. It will take just 1 hour.

The price is symptomatic of a greater issue.  That issue is the control, collusion and outright manipulation of the precious metal markets. 

Also, not sure how Donald trump can solve information, but I don't think that will stop him from trying.   

People don't have to use FED money. They do voluntarily. As Bitcoin grows in popularity, and especially with the altcoins, FED money use will diminish.

Ron Paul is a politician. He likes to keep the focus on the leader in government. The opposite to him is that we are a self-governing nation. Self-governing means individually, not through the vote.

For example. If a cop or a lawyer or anyone else accuses you of something, you have the right to question your accuser on the stand in court, and to see the "corpus delicti" and the proof that it was you that did the crime.

Ross Ulbricht didn't injure anyone with the Silk Road. There wasn't any proof of injury. So, how could Ross have done something that wasn't in evidence? Ross signed himself into prison voluntarily (if unknowingly) by not requiring that a "corpus delicti" be evidenced, and that his accuser show that Ross did it. And this was only the beginning of how the courts duped him. It's the same for most of the people in prison for drug use. They never hurt a flea.

Ron Paul, like Ross's lawyers, continue to dupe the people into thinking that the government is like God, and that we need to bow down to it unless we can talk it into changing. Ron Paul might be ignorant about what he is doing. But he is still doing it.

8)

fed will collapse like the soviet union central banking system collapsed, us economy will be decentralised.

when fed and us dollar collapses bitcoin core follows then since there will be no reliable us dollar exchange possible anymore and usa will have new us dollar (fedcoin)

I think you missed the whole point of blockchain. You can tie it to the physical world without trusted third parties. Not having to trust third parties or intermediaries is pretty much the entire point.

UMMMM, no you cannot.    Please try to understand my comment before shit-posting.  

I have spent a lot of time thinking about this problem.  Im not sure what you understood, but what I meant was trying to tie physical precious metal to a blockchain is a futile effort, and will result in a half baked outcome.  Gold is different from, say real estate, bc with the latter, you have a title (which is all that matters.) With gold, title means nothing and possession is everything. That won't stop people from trying, but in the final analysis, you will always need third parties (like auditors) to keep the trustees in check.  

Precious metals backed crypto: https://www.tiberiuscoin.com/ and https://quintric.com/. Also, consider UPMA - https://www.upma.org/.

8)

Yes, and they all need vaulting, with storage and auditors and a centralised choke-point.   Again, this is a half-baked application of block-chain.  This puts us back to Renaissance Italy with the start of fractional reserves.  While gold is gold, this will not change. No amount of examples of cryptified-pm's is going to make this any less true.  

I can think of perhaps once exception though where a half baked cryptified precious metal backed block-chain (HBCPMBBC lol) may have great utility.   Say if China (being the savvy gold bugs that they are (not letting metal out of the country and what not)) decides to issue a gold crypto.  If all the gold is locked in the country, and this gold backed crypto functions as sovereign currency, well then they might just become the global economic hegemony much faster.