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RE: Did Bitshares Just Help Create "Perfect Money"????
Best part of this is the plan can definitely work out. The gold ETF (GLD) is a similar idea but in the stock market. Great to see it in the blockchain!
The gold ETF is not backed by physical gold one to one. You own a share of GLD does not mean you own any gold at all. It's being manipulated.
And BitGOLD is fully backed 1:1, and with ZERO counterparty risk!
My bad. Apparently Van Eck's OUNZ allows retail investors to convert to physical gold while only "authorized participants" (not us) are allowed to redeem GLD.
https://www.barrons.com/articles/a-gold-etf-that-lets-you-redeem-shares-for-gold-1468641673