Is bitgold the new safe heaven?
I just read this very interesting story in zerohedge about fake gold bars bars that were supposed to be certified .
I was in the opinion that if one wants to have gold he should buy the physical real thing instead of paper gold since I am in the opinion that at some point those funds selling these derivative paper golds at some point if the they default they will not be able to fulfill their physical obligation to their customers. Well I think that most know by know that paper gold supply is MUCH MUCH bigger than the real physical gold supply. After reading this I realize that in reality physical gold may not be such a great choice after all if one doesn't know what he does.
So what is the solution for all the gold bugs out there? Enter Bitgold!!
Bidgold is a smart token in the bitshares DEX and is guaranteed by math to always have the gold price. Owning one bitgold is like owning 1 oz of gold. Bitgold is also a derivative but I believe that this derivative is much safer than the usual paper gold since it backed by real collateral x2 at least of bts equivalent value. In addition, with the new hard fork coming in the end of November, we can always revive bitassets even in the case of Blackswan event.
I think gold bugs out there should start considering hedging some of their gold exposure using bitgold.
The above is not an investment advice and I can not be liable for any potential losses of your investments. This is just my opinion and people should do their own research and do not invest more than they can afford to lose.
old post but i just started looking into bitgold. still confused, not sure if i should invest or not