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Digital gold currency
Posted: Sun Mar 27, 2011 1:19 pm
by Indices
Any comments? They sound like a bad idea...
Re: Digital gold currency
Posted: Sun Mar 27, 2011 2:16 pm
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.
Re: Digital gold currency
Posted: Sun Mar 27, 2011 3:42 pm
by longeyes
What exactly is "digital gold currency?" Sounds like GLD...
Re: Digital gold currency
Posted: Sun Mar 27, 2011 8:56 pm
by Indices
It seems to only be as good as the financial institution underwriting it. So no guarantees. Like a gold ETN.
Re: Digital gold currency
Posted: Mon Mar 28, 2011 12:29 am
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...