Is Gold Backed Cryptocurrency the Future?

>>3212126
>pet_

stopped right there

>>3212160

Huh? you ok?

>>3212126
I thought Xaurum had the same idea and look how it ended up.

usdt, x8currency, dinar, it's all stupid fucking shit

we can create scarcity with a line of code, backing it with an asset just turns the coin into a fractional reserve AGAIN, and AGAIN, and AGAIN. This is what the bankers love.

>>3212212

but the bankers dont want the gold standard...

File: 1b9.jpg (43KB, 640x539px) Image search: [Google]

43KB, 640x539px

>>3212126
Search up OneGram. It's sharia compliant crypto since its backed by gold.

Yeah it's gold backed bitcoin, but that's the problem. It doesn't make any sense to go through the extra step of having some gold sitting somewhere that people watch over for you.

Bitcoin has a set amount as well, why complicate it by having a centralized gold store sitting somewhere in a vault? It's just an extra layer of bureaucracy that isn't necessary.

>>3212126
sounds stupid as fuck, if you want gold you buy gold, if you want crypto you buy crypto, what's the point of tying a coin to the value of gold?

>>3212227
and what if you told that to the people buying USD just before the gold standard went up in smoke?

they want the power of an oracle to change the system if need be

this is why you cannot trust asset-backed crypto

>>3212279
>what's the point of tying a coin to the value of gold?

it's to entice stupid fucking boomers that are scared of cryptocurrencies