Government/Bankers Gold Blockchain Obviously Coming!

[JayT]

It is difficult to entertain the idea of combining gold with blockchain without a thorough understanding of each. Government needs to assume responsibility for protecting and insuring our money considering how critical it is to the health of the country. A gold blockchain system will give great faith in the health and security of our economic engine....read more: http://cryptoinvesting.net/gold-blockchain/ I could write a lot more but, poor attention spans:) ask questions, let's talk about this!

[BillyBobZorton]

It is difficult to entertain the idea of combining gold with blockchain without a thorough understanding of each. Government needs to assume responsibility for protecting and insuring our money considering how critical it is to the health of the country. A gold blockchain system will give great faith in the health and security of our economic engine....read more: http://cryptoinvesting.net/gold-blockchain/ I could write a lot more but, poor attention spans:) ask questions, let's talk about this!

The gold blockcain is already there: It's called Bitcoin.

If you want gold in a blockchain, you can't have the gold be a physical object, because that defeats the purpose of a blockchain. It could never be as good as a digital token, and there's no need for another blockchain but bitcoin for the gold feature.

No other coin can aim to be the crypto store of value. That's bitcoin and no other coin can take that away from it.

[JayT]

It is difficult to entertain the idea of combining gold with blockchain without a thorough understanding of each. Government needs to assume responsibility for protecting and insuring our money considering how critical it is to the health of the country. A gold blockchain system will give great faith in the health and security of our economic engine....read more: http://cryptoinvesting.net/gold-blockchain/ I could write a lot more but, poor attention spans:) ask questions, let's talk about this!

The gold blockcain is already there: It's called Bitcoin.

If you want gold in a blockchain, you can't have the gold be a physical object, because that defeats the purpose of a blockchain. It could never be as good as a digital token, and there's no need for another blockchain but bitcoin for the gold feature.

No other coin can aim to be the crypto store of value. That's bitcoin and no other coin can take that away from it.

You didn't read the article. Bankers and government have gold. They are accumulating physical gold. They will create a digital blockchain, a centralized one, where the units are represented by stored gold. You are a fool to think gov will accept bitcoin. They will do the gold, which they are fighting to get right now. People will accept it too, think outside this box here.

[Beerwizzard]

Government needs to assume responsibility for protecting and insuring our money considering how critical it is to the health of the country.

Who said that? What government?
For example usually governments do not hesitate to take huge long term without even thinkin about who and how will pay for it mostly because it will be someone else's problem when the next government will be elected. No one cares about any responsobility.

[bitcoinmaniac52]

It is difficult to entertain the idea of combining gold with blockchain without a thorough understanding of each. Government needs to assume responsibility for protecting and insuring our money considering how critical it is to the health of the country. A gold blockchain system will give great faith in the health and security of our economic engine....read more: http://cryptoinvesting.net/gold-blockchain/ I could write a lot more but, poor attention spans:) ask questions, let's talk about this!

The gold blockcain is already there: It's called Bitcoin.

If you want gold in a blockchain, you can't have the gold be a physical object, because that defeats the purpose of a blockchain. It could never be as good as a digital token, and there's no need for another blockchain but bitcoin for the gold feature.

No other coin can aim to be the crypto store of value. That's bitcoin and no other coin can take that away from it.

Bitcoin = Virtual Gold

Creating a "gold blockchain" makes no sense. Bitcoin serves the purpose of being the virtual/intangible form of gold that we have been calling it for years now.

I remember when people used to call Litecoin the "silver" cryptocurrency... I suppose it still applies given the difference in their prices is very similar to the physical substances.

[Beerwizzard]

Bitcoin = Virtual Gold

Creating a "gold blockchain" makes no sense. Bitcoin serves the purpose of being the virtual/intangible form of gold that we have been calling it for years now.

I remember when people used to call Litecoin the "silver" cryptocurrency... I suppose it still applies given the difference in their prices is very similar to the physical substances.

That will make some sense maybe if all gold in the world will be stored by the safe 3rd party and everyone will use the gold crypto (or everyone will destroy gold, whatever) but it still sounds like bullshit.
 

You didn't read the article. Bankers and government have gold. They are accumulating physical gold. They will create a digital blockchain, a centralized one, where the units are represented by stored gold. You are a fool to think gov will accept bitcoin. They will do the gold, which they are fighting to get right now. People will accept it too, think outside this box here.

While making any speculations (or even long term investments) people don't posess any physical amount of gold. Banks jut needed to store it and keep it safe. No one will need any decentralized system untill they are fine with banks.

[Przemax]

Gold blockchain is obviously not comming, or any serious governmental or banked based cryptocurrency.

Banks would not kill the golden hen that gives the golden eggs. They can rig the gold market and all of the other markets. The are making millions and trillions of dollars on their rigged thievery. Why would they bring honesty to the table? They would kill their hen. They will never ever, ever do that. To the contrary, they will kill, maim and destroy for that to not happen.

[Xavofat]

1.  Governments gave up on the gold standard ages ago.  If they were creating a centralised currency in which they could create tokens whenever they want, why would the blockchain make any difference to whether they were using gold?

2.  A gold-based blockchain compromises 90% of Bitcoin's principles.  I would much rather hold actual gold or BTC than that.

[bitart]

Gold standard is over for centuries now. Today banks calculate the possible amount of money they can create (from thin air via lending out new money with credit lines, etc) with a really difficult calculation, based on their country's foreign currency reserve and based on their own loan to deposit ratio.
Gold somehow counted in the formula, still, but based on the value of a country's foreign currency reserve. The more valuable the currency of the country the more gold has it in it's safe sotrage. But it's not an 1:1 ratio, it's just a part of the calculation.
Bitcoin has it's own gold, miners are digging it. There's no need to link the virtual gold to the physical gold. As long as bitcoin is too risky for the banks, they won't use their gold just to create something that stores value, because gold stores value on it's own.

[anhhung409]

It is difficult to entertain the idea of combining gold with blockchain without a thorough understanding of each. Government needs to assume responsibility for protecting and insuring our money considering how critical it is to the health of the country. A gold blockchain system will give great faith in the health and security of our economic engine....read more: http://cryptoinvesting.net/gold-blockchain/ I could write a lot more but, poor attention spans:) ask questions, let's talk about this!

I understood the idea of combining gold and blockchain into one. It will be a big step for the monetary industry. It is a combination between the stability of gold and the great profit, safe transaction of blockchain. However, it is difficult to integrate these two into one. I want to hear your opinion about this?

[BillyBobZorton]

It is difficult to entertain the idea of combining gold with blockchain without a thorough understanding of each. Government needs to assume responsibility for protecting and insuring our money considering how critical it is to the health of the country. A gold blockchain system will give great faith in the health and security of our economic engine....read more: http://cryptoinvesting.net/gold-blockchain/ I could write a lot more but, poor attention spans:) ask questions, let's talk about this!

The gold blockcain is already there: It's called Bitcoin.

If you want gold in a blockchain, you can't have the gold be a physical object, because that defeats the purpose of a blockchain. It could never be as good as a digital token, and there's no need for another blockchain but bitcoin for the gold feature.

No other coin can aim to be the crypto store of value. That's bitcoin and no other coin can take that away from it.

You didn't read the article. Bankers and government have gold. They are accumulating physical gold. They will create a digital blockchain, a centralized one, where the units are represented by stored gold. You are a fool to think gov will accept bitcoin. They will do the gold, which they are fighting to get right now. People will accept it too, think outside this box here.

I didn't say governments need to accept bitcoin. You are the one that isn't thinking outside the box.

You don't understand the fact that blockchain means digital. Physical gold combined with a blockchain is just dumb and pointless. The point of having stuff like Bitcoin or Gold is to have value outside of the reach of anyone else but yourself, so you can defend against governments if (when) they go full Venezuela on your ass, otherwise it defeats the point completely.

[iamTom123]

It is difficult to entertain the idea of combining gold with blockchain without a thorough understanding of each. Government needs to assume responsibility for protecting and insuring our money considering how critical it is to the health of the country. A gold blockchain system will give great faith in the health and security of our economic engine....read more: http://cryptoinvesting.net/gold-blockchain/ I could write a lot more but, poor attention spans:) ask questions, let's talk about this!

The gold blockcain is already there: It's called Bitcoin.

If you want gold in a blockchain, you can't have the gold be a physical object, because that defeats the purpose of a blockchain. It could never be as good as a digital token, and there's no need for another blockchain but bitcoin for the gold feature.

No other coin can aim to be the crypto store of value. That's bitcoin and no other coin can take that away from it.

You didn't read the article. Bankers and government have gold. They are accumulating physical gold. They will create a digital blockchain, a centralized one, where the units are represented by stored gold. You are a fool to think gov will accept bitcoin. They will do the gold, which they are fighting to get right now. People will accept it too, think outside this box here.

There is nothing wrong if there will a government that will issue a digital currency but this time it is backed by physical gold. It is actually a beautiful concept and one that can rival Bitcoin. Now, the question is:Which government will it be? I understand that governments right now are fond of printing money anytime they wish to...now this propensity would be limited once they will take up gold. Based on my own personal assessment, I don't think this concept would be coming into the market especially the one that could be issued by a government or a central bank for that matter.

[Hydrogen]

If I remember right all of the gold in Fort Knox is only worth only around $200 billion usd.

That's not a lot of collateral to back a countries currency, economy or debt.

For gold standards to be effective and functional, the value of gold needs to increase. This might be accomplished by more support for buying/selling/trading of goods & services via a gold standard. To be honest, its not something I've given a lot of thought to or researched. If demand for gold increased, and buying/selling volume for gold raised, the value of gold could increase via supply/demand. Gold being more valuable could make it more effective as a backing.

Some other form(s) of collateral might also be developed which were more effective at backing a countries currency/economy/debt than gold currently is. Instead of a gold standard, perhaps a precious metals standard could be introduced where a variety of precious metals were used to back currency/debt/etc. The gold standard is tried and true in the eyes of many. But that doesn't mean it couldn't be improved upon(or regressed lol).

[Qartersa]

Well it is coming, we can't do anything about it. The blockchain technology is really useful and it could change a lot of things in business that blochchain the streamline and make a lot of things better. Recording especially would be a lot easier for banks and they don't need to host everything in their own servers now if this would be implemented.

[mrfreezeh]

Well it is coming, we can't do anything about it. The blockchain technology is really useful and it could change a lot of things in business that blochchain the streamline and make a lot of things better. Recording especially would be a lot easier for banks and they don't need to host everything in their own servers now if this would be implemented.

But important after they apply blockchain to their system, how is the future of Bitcoin like? Example they want user go out Bitcoin, they can cooperate with government for create some rules about using Bitcoin and make the user from Bitcoin going to use their token created (if have).

[futile-resistance]

If I remember right all of the gold in Fort Knox is only worth only around $200 billion usd.

That's not a lot of collateral to back a countries currency, economy or debt.

For gold standards to be effective and functional, the value of gold needs to increase. This might be accomplished by more support for buying/selling/trading of goods & services via a gold standard. To be honest, its not something I've given a lot of thought to or researched. If demand for gold increased, and buying/selling volume for gold raised, the value of gold could increase via supply/demand. Gold being more valuable could make it more effective as a backing.

Some other form(s) of collateral might also be developed which were more effective at backing a countries currency/economy/debt than gold currently is. Instead of a gold standard, perhaps a precious metals standard could be introduced where a variety of precious metals were used to back currency/debt/etc. The gold standard is tried and true in the eyes of many. But that doesn't mean it couldn't be improved upon(or regressed lol).

I’ve once had interest in gold, but that was long before I discovered Bitcoin. Getting straight to the point I would say I’m in full support of what you said. $200 billion USD is a small amount to back up a countries currency, so more is needed. Having a government that issues digital currency doesn’t mean it’s going to beat Bitcoin.

[hatshepsut93]

It is difficult to entertain the idea of combining gold with blockchain without a thorough understanding of each. Government needs to assume responsibility for protecting and insuring our money considering how critical it is to the health of the country. A gold blockchain system will give great faith in the health and security of our economic engine....read more: http://cryptoinvesting.net/gold-blockchain/ I could write a lot more but, poor attention spans:) ask questions, let's talk about this!

Private/state-owned blockchains are just snake oil or distractions, blockchain is good not because it's secure, but because it's decentralized and consensus-driven, and allows to perform trustless transfers and guarantees immutability. When you try to create blockchain system with permissions, you quickly lose any trustlessness of transactions.

[sindikat]

Any attempt of the state to establish control over the bitcoins will be doomed to failure. It seems to me that people still don't understand what they have in hands. Bitcoin is so good that the state has no power over it. This state should ask the bitcoin community to cooperate. But I am against.