Why Gold-Backed Cryptocurrencies are a HORRIBLE Idea
Fud Zero asks "Do you recommend any gold-backed currency stablecoins? If so, any suggestions?"
Here's my response!
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▶️ 3Speak
I do like and hold gold but i also see your point about a gold backed crypto currency fair enough. Cheers mike
Fiat backed crypto’s 😂
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A gold backed crypto would not be so good
Peter Schiff is WRONG About Asset-Backed Cryptocurrencies - Here's Why
Thanks for the reminder.
Yes. Peter Schiff spoke about asset-backed cryptos before, where I addressed his particular points.
This post is specifically about gold-backed cryptos - and I still think it's a really bad idea.
Yeah it really is...
The ultimate problem is that so many people think it's a good idea because the logistics make sense from the perspective of the vast majority that don't understand the intrinsic value of decentralization. This space is absurdly complicated.
Might as well just own the gold.
Precisely!
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