Gold backed blockchain

Discussion of the Gold portion of the Permanent Portfolio

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ochotona
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Gold backed blockchain

Post by ochotona » Sun May 12, 2019 5:12 am

New thread started to monitor developments and personal experiences with gold backed blockchain. Press releases out during 2018 from Sprott and Perth Mint, but I can't find retail purchase details. Check back in years, I suppose.

Sprott's digital gold page

Perth Mint press release
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Kbg
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Re: Gold backed blockchain

Post by Kbg » Mon May 13, 2019 2:52 pm

What's the point, seriously?

Gold is physical, meaning you can go count the stuff, it fills actual space, has actual volume, has a measurable weight to it.

Digital things are not, meaning they can be copied/reproduced easily. Blockchain simply makes reproduction of the original MUCH more difficult.

Switch this advertising to say real estate. Blockchain does not help you with the physical piece of property, it does help you with the ensuring there is only one digital deed to the property.

If you don't want your blockchain proliferating to "devalue" it, then just make your algo unable to create additional blockchain ledger entries.

Let's go back and sell this in the late 90s shall we? goldbitcoin.com. I'm gonna make bank in the 70s, late 90s and the 20 teens with this product.

For me the Perth advertisement was like...sorry we can't guarantee we are honest and will keep our ownership books straight. We will team up with...to provide you with this "assurance." (Me: But unless you come to their vault personally, you still can't verify anything.)
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