Digital gold currency

Discussion of the Gold portion of the Permanent Portfolio

Moderator: Global Moderator

Post Reply
Indices
Executive Member
Executive Member
Posts: 245
Joined: Sun Apr 25, 2010 10:51 pm
Contact:
Contact Indices

Digital gold currency

Post by Indices »

Any comments? They sound like a bad idea...
Top
User avatar
MediumTex
Administrator
Administrator
Posts: 9096
Joined: Sun Apr 25, 2010 11:47 pm
Contact:
Contact MediumTex

Re: Digital gold currency

Post by MediumTex »

Yes, for now anyway.

I can perhaps see some government doing this at some point in the future.

I don't know how well it would work.
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
Top
longeyes
Senior Member
Senior Member
Posts: 123
Joined: Mon Aug 16, 2010 3:15 pm

Re: Digital gold currency

Post by longeyes »

What exactly is "digital gold currency?"  Sounds like GLD...
Top
Indices
Executive Member
Executive Member
Posts: 245
Joined: Sun Apr 25, 2010 10:51 pm
Contact:
Contact Indices

Re: Digital gold currency

Post by Indices »

It seems to only be as good as the financial institution underwriting it. So no guarantees. Like a gold ETN.
Top
User avatar
AdamA
Executive Member
Executive Member
Posts: 2336
Joined: Sun Jan 23, 2011 8:49 pm

Re: Digital gold currency

Post by AdamA »

longeyes wrote: What exactly is "digital gold currency?"  Sounds like GLD...
Goldmoney.com uses this concept.  Basically, if you hold gold with them, you can use it to pay for services directly, without converting to dollars.  Obviously, the other party has to have a Goldmoney account as well. 

I'm not sure about the tax implications...
"All men's miseries derive from not being able to sit in a quiet room alone."

Pascal
Top
Post Reply

Return to “Gold”