Why Gold-Backed Cryptocurrencies are a HORRIBLE Idea
(Edited)
Fud Zero asks "Do you recommend any gold-backed currency stablecoins? If so, any suggestions?"
Here's my response!
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Peter Schiff is WRONG About Asset-Backed Cryptocurrencies - Here's Why
Thanks for the reminder.
Yes. Peter Schiff spoke about asset-backed cryptos before, where I addressed his particular points.
This post is specifically about gold-backed cryptos - and I still think it's a really bad idea.
Yeah it really is...
The ultimate problem is that so many people think it's a good idea because the logistics make sense from the perspective of the vast majority that don't understand the intrinsic value of decentralization. This space is absurdly complicated.
Fiat backed crypto’s 😂
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I do like and hold gold but i also see your point about a gold backed crypto currency fair enough. Cheers mike
A gold backed crypto would not be so good
Might as well just own the gold.
Precisely!