Gold Backed crypto sounds like very good idea. But why would a crypto currency needs to be backed by gold? I think only Fiat can be backed by gold as it has no value. Crypto is already backed by the technology.
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Good point if you rerad the white paper they will be reinvesting into the coin , so what is now 1 gramm per coind could effectively be 5 gramms per coin , either way may attact some investors here with 2 benefits 1. the technology and 2 Physical Gold backing