Gold is sound money. The dollar used to be backed by Gold. Before that all sovereign money was backed by Gold. Now it is just paper notes, owed back as debt and issued as debt in the first place by the Central banks. Gold is the enemy of the Central banking debt system and so is the Blockchain. They are good friends. The Blockchain can release Gold from price suppression and provide smart contracts for movement. Crypto backed by Gold is another thing, perhaps people like the idea that the money is backed so it will never go to zero!
How do they make this happen? Doesn't this defeat the purpose of crypto? Will this be the new dollar? What are your thoughts good or bad?
Gold is sound money. The dollar used to be backed by Gold. Before that all sovereign money was backed by Gold. Now it is just paper notes, owed back as debt and issued as debt in the first place by the Central banks. Gold is the enemy of the Central banking debt system and so is the Blockchain. They are good friends. The Blockchain can release Gold from price suppression and provide smart contracts for movement. Crypto backed by Gold is another thing, perhaps people like the idea that the money is backed so it will never go to zero!
Congratulations @contrarionmike! You have received a personal award!
Click on the badge to view your own Board of Honor on SteemitBoard.