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RE: GoldMint: Turning Real Gold Into Crypto Assets Via Blockchain!
Will this lower the gold price overtime? Because for one ounce of gold being Sold 100 times more? like how they do it with paper gold.
Will this lower the gold price overtime? Because for one ounce of gold being Sold 100 times more? like how they do it with paper gold.
The opposite is true. Because the OTC markets are leveraged 100x or more paper vs physical gold, this makes gold supply 100x or more than it actually is. When any commodity becomes more available (more supply) the price will drop. By supplying 100x or more paper gold to the markets, this essentially is keeping the price of gold artificially low. Imagine if all of that demand were actually applied 1:1 to physical gold! This is why people say gold will go to 10,000 or more.