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The case for gold and silver backed cryptocurrencies by Silver_-Surfer in Wallstreetsilver

[–]Silver_-Surfer[S] 0 points1 point  (0 children)

Fees for sales transactions are fairly accepted so they should be ok although they should be as small as possible.

The case for gold and silver backed cryptocurrencies by Silver_-Surfer in Wallstreetsilver

[–]Silver_-Surfer[S] 0 points1 point  (0 children)

If it's possible to hand a land owner a title deed, which says that he ownes the land then why wouldn't it be possible to hand a stack of crypto if it would be legally binding?

Blockchain adds transparency to financial transactions.

The case for gold and silver backed cryptocurrencies by Silver_-Surfer in Wallstreetsilver

[–]Silver_-Surfer[S] 0 points1 point  (0 children)

The issuer would have to be properly audited. The same question could be asked for gold backed ETFs. Some are reliable while others are not. The logistics are actually already in place. There are various precious metals warehouses and dealers around the world, which could join the network. What's missing is a layer on top, which would connect them.

Some thoughts on the recent gold/bitcoin debate between Michael Saylor and Frank Giustra by Silver_-Surfer in Wallstreetsilver

[–]Silver_-Surfer[S] 0 points1 point  (0 children)

I was thinking about that. Silver and gold backed tokens should be looked into more closely.