A gold-backed coin

[Nxtblg]

If I created a coin that was redeemable for physical gold at a specific ratio, would miners pick it up?

Leaving aside the too-good-to-be-true aspect of this idea, they'd be quite skeptical. Solid "Proof of Gold" implies centralization. Less-than solid "PoG", combined with that too-good-to-be-true aspect for miners, would suggest something else...

[pedrog]

Bitgold.com looks interesting but I don't see what miners have to do with it, do you mean miners as in bitcoin miners or miners as in physical gold miners?

If you are planning on giving gold for mining your coin go ahead, pretty sure people will thank you.

[sofu]

Every time I hear something like backed by Gold in Crypto I'm running away with my wallet

[Nasakloto]

Well

It sounds like an idea easy to be implemented by govts or banks.