[Cryptography] Perth Mint to back crypto-currency with gold

grarpamp grarpamp at gmail.com
Wed Jan 24 20:19:52 PST 2018


> http://www.abc.net.au/news/2018-01-24/cryptocurrency-backed-by-gold-being-developed-perth-mint/9352036

Typical investors happy with their old school
will simply buy into allocated storage options or
other reasonably efficient and accessible
pricing and pooling mechanisms such as...

https://finance.google.com/finance?q=gld

Unlike most cryptos with mathmatically known
thus predictable emission curves, anything
mined and stockpiled from the Earth has additional
factors that apply, on top of all the digital ones.

> to entice investors back to precious metals.

While they may have cobbled together a way of making
medieval carriage of virtual metals in digital sacks
handy again, they're imparting a whole new layer
of trust, regulatory, verification, redemption, etc
questions upon the metals.

Then comes relative simplicity...

https://finance.google.com/finance?q=gbtc

Which really begs the question of "why they bother", now
that pure cryptocurencies are out and have equally
suitable / comparable pricing, utilization and access models.

The answer is likely that the fake "precious" metals and sparkly
rocks industries are as scared of losing power and control,
and becoming extinct as the banks and governments are.
Thus they're proffering up such meetoo coins in an
effort to stay relavant up against the global awakening.

https://www.youtube.com/watch?v=N5kWu1ifBGU
https://www.youtube.com/results?sp=CAM%253D&search_query=diamonds+scam
https://www.youtube.com/results?sp=CAM%253D&search_query=blood+diamonds+documentary

Which will further fail because it's just not what the kids
in school are believing in and using anymore...

https://www.youtube.com/watch?v=NvO3hMgWT-0
https://www.youtube.com/watch?v=3VnTko4YdPE
https://www.youtube.com/watch?v=nqdv6Ad9Nt4
https://www.youtube.com/watch?v=Hh-O7er_X2c
https://www.youtube.com/watch?v=rT4ThQ55SD8
https://www.youtube.com/watch?v=PdsjULVxuhU
https://www.youtube.com/watch?v=k4FNmp3mKp4

Wait till the 10 year anniversary of cryptocurrency...
massive worldwide inputs and adoption will happen after that.


Everyone loves to quote market cap, which takes no
notice of historical inputs.

Another way to calculate "intrinsic value" of say, BTC, is to...
(sum (each block quantity created times the market price
at creation time)) divided by the quantity of coins extant.
[Further adjusted for xflation of the fiat reference over
the period to the present day.]

Even assuming fiat was flat, no one appears to have
published this simple integration... you should try it
and see what number you get :)


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