Are they backing it with real metal or with GLD-type paper gold?
The idea of cryptocurrency is that it doesn't need to be backed, it already should have value.
also I love how her opening sentence basically says, "BTC and fiat are the same...except they are totally different"
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Supposedly real metal. Will be purchased with proceeds from the ICO next Friday.
I know they kept saying "physical gold" in the video. I just wasn't sure they are serious because people call GLD physical gold too sometimes.
Also would they issue multiple coins backed by the same piece of gold the way a n ounce of gold is covering multiple GLD units?
This is super interesting waters.
If you look at Dubai's Onegram, and the CME's new collaboration with the UK Royal Mint to backstop a gold cryptocurrency, it would not behoove any new business to use paper gold backing because there are coming online too many validated options.
The learning curve keeps going up for me, lol.