A Guide to Gold-Backed Cryptocurrency - Live Coin Watch
A Guide to Gold-Backed Cryptocurrency - Live Coin Watch
Gold vs Bitcoin Chart: BTC Price in Gold (Updated Daily)
Top 5 Gold-Backed Cryptocurrencies - How to spend Bitcoin
Bitcoin, The 2020 Crash, Gold And Hyperinflation
Bitcoin vs. Gold - Is Bitcoin the digital gold?
I stored bitcoins online ... aaaand they're gone.
/SorryForYourLoss is a place to showcase the top minds of bitcoin (and cryptocurrencies) failing to secure their precious internet money properly. It's a memorial for the countless incidents of thefts, scams, hacks, goxxes, .. etc.
OneGramCoin (OGC): All disucssions of the digital token backed by gold take place here!
OneGram uses blockchain technology to create a more resillient and stable cryptocurrency where each coin is backed by one gram of gold at launch. Each OneGram transaction generates a small fee. Unlike other cryptocurrencies, in OneGram, this fee is reinvested (net of admin costs) to buy more gold and increase the amount of gold that backs each token. 3,000,000 OGC already invested! [Are you next?](https://tokensale.onegram.org/)
Question: Is Bitcoin backed by Gold, Silver, Platinum... etc?
If not, it's no better than the toilet paper we call money. And therefore is probably being used to build a "bubble". Saying it's backed up by currency is also invalid if ANY of the currency it represents is Fiat Currency. So I want to know.
This was such a disappointment to read... if Bakkt futures are not fully backed by Bitcoin and are actually 37% backed by dollars/Treasuries, then what are the implications? Is this the slippery slope to Bifcoin market manipulation like we see in the Gold market?
Bitcoin is digital gold and the LightningNetwork uses cryptographically secured and trustless “IOU’s” as a medium of exchange backed by bitcoin, for efficiency. Like when paper money was backed by gold in 1844. But this time no one can suddenly take the gold away.
Edit: Yikes, this blew up a little and I’m being hit from all angles about why I’m wrong. I probably shouldn’t have used the term “IOU” cause it insinuates debt, as well as there being counter party risk. My point is that it’s like having the most trusted and secure IOU in the world, because it’s not backed by promise of the other person, it’s backed by cryptography, so you can claim your money at any time, or you can continue to pass it on to the next person without any risk. So in that sense, it is similar to an IOU, but it’s trustless. I really liked this analogy and I was hoping this would just be an easy way for people to understand but I was wrong. Edit 2: I think a better word would have been “promise”. LN is like exchanging trustless and secure promises of funds, which carry no risk, unlike when paper money was a promise to the equivalent value in gold and the promise was broken. I hope that clears up my thinking a little.
07-26 04:33 - 'Bitcoin was the first, but not the best. It invented the technology that will change our world (blockchain). The new kid on the block is karatbars' gold backed crypto. Its the best of both worlds. / [link]' by /u/coojw removed from /r/Bitcoin within 164-174min
''' Bitcoin was the first, but not the best. It invented the technology that will change our world (blockchain). The new kid on the block is karatbars' gold backed crypto. Its the best of both worlds. [link]1 ''' Context Link Go1dfish undelete link unreddit undelete link Author: coojw 1: *o*tu.be/p**q6oYQb*0 Unknown links are censored to prevent spreading illicit content.
07-09 17:14 - 'What if he Got SGC! his 60% security cant be used by her. SGC (Secured Gold Coins), is a hybrid cryptocurrency that is 60% gold-backed, 40% utility and completely decentralized based on the revolutionary technology of Bl...' by /u/HourJudgment removed from /r/Bitcoin within 373-383min
''' What if he Got SGC! his 60% security cant be used by her. SGC (Secured Gold Coins), is a hybrid cryptocurrency that is 60% gold-backed, 40% utility and completely decentralized based on the revolutionary technology of Blockchain that makes it secure, durable, trustworthy, easily accessible, and redeemable. [[link]2 ''' Context Link Go1dfish undelete link unreddit undelete link Author: HourJudgment 1: s*cur**gol*coin*com/ 2: secu**d*oldcoin*co*/]^^* Unknown links are censored to prevent spreading illicit content.
Bitcoin is backed by more than gold and fiat combined.
Gold is "backed" by nothing other than scarcity (supply) and utility (demand). Fiat is backed entirely by the level of confidence in that countries treasury, central bank and government to be fiscally responsible. Because a lack of fiscal responsibility kills scarcity and therefore also utility. Bitcoin is backed by stricter scarcity than gold, greater utility than both gold and fiat, and the fact we dont have to trust in anyone.
Imagine a cryptocurrency that is more reliable than any other because it is backed by a physical commodity? That’s right! Gold Bits Coin is backed by real gold! Visit their website to find out more: goldbitscoin.com #Cryptocurrency #GoldBitsCoin #crypto #bitcoin #gold
Gold and bitcoin have no ‘owner’ or central entity keeping it together. In gold’s case it is a part of this earth we inhabit while Bitcoin is an open source software that is maintained by a network open to all and which can survive as long as even just one person remains dedicated to the cause. For this reason, there has been a rise in the popularity of gold-backed cryptocurrencies. Basic Details. It is just in recent years that gold-backed cryptocurrencies getting into the mainstream since digital currencies like Bitcoin is becoming known to the general public. The concept is that a certain coin would represent a value of gold. The short answer is no; Bitcoin is not backed by gold. That does not mean it has no value, but Bitcoin isn’t connected to any physical asset, whether it’s gold, silver, oil, or any other commodity. Rallies in gold and bitcoin continued into Monday's morning trading session, a development underpinned by uncertainty around the global economy and a weakening U.S. dollar. Bullion soared to record highs above $1,900 per once while bitcoin toppe The last few years have seen the creation of blockchain projects that claim to have tokens backed by physical gold. In October, Coinshares and Blockchain.com launched a digital gold token (DGLD
The Bitcoin (BTC) versus gold debate rages on this week as reports reveal fake bars fueled a $2.8 billion corruption scheme. A huge corruption scandal involving Chinese loans backed by fake gold ... Gold Secured Currency is the first stable coin that increases in asset value indefinitely. ... Banking on Bitcoin - Duration: 1:23:41. YouTube Movies. ... Why I Backed It (and Late Pledge Details) ... Bitcoin gold is a proposed hard fork on the Bitcoin network that will change the proof of work algorithm to equihash. The main advantage of this is to break the reliance of bitcoin on ASIC mining ... In addition, Bitcoin is more scarce than gold. There is a lot of gold in our solar system. And soon, Bitcoin will have an even higher stock-to-flow than gold. ... $2 billion in loans backed by ... In this video I show you why i decided to change my Bitcoin into the Karatgold coin (KBC) and show you how you can obtain this coin on the Karatbit exchange. KBC is backed by physical gold stored...