More excited about quint and quintS than anything right now. Love your show, thank you for having Stan on. And cheers to the Bluegrass State, the western Garden of Eden. :)
@stan how does a precious metal backed digital asset work ? if the gold or silver is stored somewhere doesnt that make it centralised ? grace and peace brother !
Yes. All asset backed currencies are centralized and depend on the reputation and integrity of the backer. But they can still be very useful to own and trade. You can always use bitUSD or the HERO if you want complete decentralization, but until there are enough of them to go around - there is high-reputation gold depositories backing the Quint.
thanks for the reply @stan i think what you are trying to do on bitshares is great and having something other than BTC (and more stable) to peg to, is the way to go ! I like the idea of a gold backed crypto ! Here's a random thought if the gold backed crypto becomes a success and people stopping relying on BTC, the banksters will need to find a new trick to manipuate the crypto market ! Maybe in an effort to do this, the banksters will stop manipulating silver/Gold (since many stackers have capitulated and sold out for crypto) so that in their eyes, the volatility will move to this new coin and people return to BTC. The flip side to this of course would be if PM manipulation stopped, all the preppers and stackers would finally see a huge spike in the value of their physical precious metals ! grace and peace
I dont see the propblem in beeing centralized when it is backed by Gold IF you can go there give them a quint and get x amount of gold physically that in the end is the least centralized most privat asset ever. Think about it. You have gold at home nobody knows what you do with it
Great name!
~ @bluerocktalk🖖
And the QuintS (silver backed).
We just finished the whitepaper - and it is beautiful.
Nice!
~ @bluerocktalk🖖
Long Live The Quint!
Agreed!
~ @bluerocktalk🖖
More excited about quint and quintS than anything right now. Love your show, thank you for having Stan on. And cheers to the Bluegrass State, the western Garden of Eden. :)
@stan how does a precious metal backed digital asset work ? if the gold or silver is stored somewhere doesnt that make it centralised ? grace and peace brother !
Yes. All asset backed currencies are centralized and depend on the reputation and integrity of the backer. But they can still be very useful to own and trade. You can always use bitUSD or the HERO if you want complete decentralization, but until there are enough of them to go around - there is high-reputation gold depositories backing the Quint.
thanks for the reply @stan i think what you are trying to do on bitshares is great and having something other than BTC (and more stable) to peg to, is the way to go ! I like the idea of a gold backed crypto ! Here's a random thought if the gold backed crypto becomes a success and people stopping relying on BTC, the banksters will need to find a new trick to manipuate the crypto market ! Maybe in an effort to do this, the banksters will stop manipulating silver/Gold (since many stackers have capitulated and sold out for crypto) so that in their eyes, the volatility will move to this new coin and people return to BTC. The flip side to this of course would be if PM manipulation stopped, all the preppers and stackers would finally see a huge spike in the value of their physical precious metals ! grace and peace
I dont see the propblem in beeing centralized when it is backed by Gold IF you can go there give them a quint and get x amount of gold physically that in the end is the least centralized most privat asset ever. Think about it. You have gold at home nobody knows what you do with it
Where can I buy Quint? Quints...