Dear all,
I hope you are all fine
I will begin to present myself, give my opinion on the crypto today and then explain why i bring you GDT, the Gold Token
I am 38 years old and i work in computer science, i am a developper since 13 years
Maybe i am all wrong because i am not a crypto expert and that's why i open this topic, its to have your point of view on the project
If i am wrong nothing will happen, i will just be educated by you, but if i am right this crypto will be the one and all banks will go bankrupt soon for the sake of humanity
So the global idea is to bring back Bretton Woods thanks to the crypto, i will explain how below
I discussed a lot with my brother who is a financial mathematician about crypto and he told me that Bitcoin will not make it for multiple raisons, neither others crypto and here is why
Bitcoin is deflationary, as the circulating supply is blocked you will never be able to use it in the real world because the prices will always move. No retailers can work with a currency which has this kind of fluctuation. And as the circulating supply is blocked the BTC's price will never stopped to rise and you will prefer keep your bitcoin hopping a higher price tomorow instead of spending them today and the effect of this is that the sales will plummet as everybody is just watching the price going higher and higher and not buying anything with it, if Bitcoin is only used its the end of the economy, that's why we saw stable coin coming in, but the stable coin are a scam as they are backed by fiat scam monopoly currency
Let's be clear here, i own myslef bitcoin and i see bitcoin as the most revolutionary thing after internet but as a financial assets bitcoin will stay as it is, a strange asset of store of value which carries the risk to go back to zero one day, especially if energy becomes almost free thanks to the nuclear fusion for example because the price of a BTC is 70% cost of energy so if energy drops BTC will drop with it
https://coinsavage.com/content/2019/12/bitcoins-production-cost/https://www.youtube.com/watch?v=vPS-epGPJmgSo now, what is the only one real money in the world ? Its gold, nothing else, all others things are debt, but gold has a problem, its heavy, so lets tokenise it to make it liquid
https://monetary-metals.com/why-did-jp-morgan-say-money-is-gold-nothing-else/JP Morgan say “Money is gold, nothing else”?
“Paper money eventually returns to its intrinsic value -- zero.”~ Voltaire
I invit you to watch this documentary of Mike Maloney, Money vs Currency - Hidden Secrets Of Money, to understand difference between real money and currency
https://www.youtube.com/user/whygoldandsilverIf fiat currency was unlinked from gold ( Bretton Woods ) its to give them the possibility to print fiat like monopoly for wars especially and in the same time make us all poor because of the inflation, its why the houses worth 300K, inflation is a hidden tax that makes you a slave poor, you work and they take your wealth through inflation
When you put 100 000$ in a normal bank account with a rate of 3% inflation by year, you lose 30% of purchasing power in 10 years that's why all currencies are for slaves and that the only real money is gold because gold protects you against inflation so after 10 years with gold you are 30% richer with no risk to go back to zero
The role of gold is to protect you against inflation, against fiat currency and therefore its the only one real money and the only one real store of value, a real store of value dont do -50% in some months as the BTC does it...
The only way to get out of the slavery its to have a crypto backed by gold that we can spend
I checked if this idea was already done by the commnunity and i saw a lot of problem, or the token is not yours, or you cant ask for the gold regarding the token you have
And the most important thing you cant spend them, no credit card or app to do so !
So finally there is no real project crypto with gold really working in the real world today from what i saw
Here is my idea
1 - Create a real bank to get access to Swift and the payments terminals arround the world
2 - Create an exchange to have zero fees
3 - Each time someone put dollars in his bank account the bank automatically buy gold with the money and securise it in a vault which will be audited
4- The bank tokenizes the amount of the gold in GDT and put it in the crypto adress of the user at rate 1 GDT = 1 g of gold
5 - When the user spend GDT with their phone or credit card the bank sells the GDT against dollars thanks to its exchange and makes the payment
6 - The person who bought GDT against dollar on the exchange has now real gold and can come ask for it at the bank or spend them
Conclusion, everybody is now backed by gold and can spend them and all that could be only possible thanks to crypto
All banks will close because everybody will open an account in our bank gold crypto because it will be the only bank who makes you really richier with time, you just have to look at the gold charts, if this was already existing we should have triple our savings in the last 10 years, lets dont miss the next 10 years
https://fr.wikipedia.org/wiki/Fichier:Gold_price_in_USD.pngI had the idea and when i proposed it to my brother he tolds me that he will be my first client so i really have faith in this project
I dont know if what i said is technically possible but if it is its the real solution
And it will be decentralised, the nodes will take care of the transactions and the accounts
For me this project is totally valid as i saw credit card which gives you the possiblity to spend crypto, i imagine there is an exchange that transform the crypto in dollars before the payment
Everything is existing, the bank, the crypto, the gold, the exchange and the credit card to spend the crypto, all we need to do is to put everything together but its only my view and as i am not crypto expert i cant really know if we can make it or not
GDT will become the world reserve currency at the end and goods can be labelled in GDT because gold dont move, the price of a cow never changed in 5000 years in gold, its the value of dollar that moves which makes the gold price move, dollar goes down and makes gold goes up
If we can lets begin the work, the ICO will help to create the bank and all the rest.
And if we cant sorry to have bored you and i will be pleased to read your comment
Thank you for reading
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