BullionCoin: The New Gold Standard cryptocurreny
A Digital Currency Fully Backed by Physical Gold & Silver Bullion that allows you to be your own central bank.
BullionCoin is a cryptocurrency backed by 100% allocated physical gold and silver bullion on a 1:1 basis. This could turn out to be the holy grail, the joining of 2 camps cryptocurrencies and precious metal investors.
Check it out for yourself at:
http://www.goldvu.com/bullioncoin.html
I like the idea of a currency backed by gold.... i just dont like someone else holding my gold lol
It's best to only put in what you can afford to lose and the rest should stay in your metal, that's my opinion anyway. Thanks for your reply cheers.
Let me see if I'm correct in saying that we turn in our gold and silver and receive this new Crypto in return...???
So, instead of getting a Paper receipt, we get a Crypto receipt...???
@pocketechange
Only convert what you need for spending and the rest keep it in the bullion, just like your own central bank my friend.
Awesome, precious metals
Hello silverbug! This is an interesting concept! How long has goldvu been in business?
It hasn't started yet, still in the planning stage cheers.
This intrigues me
It will give crypto coins more stability I think. Cheers
An interesting idea, will one coin be worth 1 Oz?
I don't know, it could be set at anything I guess, maybe like the ETF at 1/10 an oz.
Would be good to know what they are planning
This would be handy if i wanted to travel but didnt want to lug all my metals around with me, trouble is would some bar in outer mongolia want to exchange beer for digits on a computer ?
Isnt this just a reworking of the bankster buisness plan , Exchange real assets for illusional digital crap ? Except in this case you wont be able to exchange the crap because no one outside the small cryptocommunity understands what they are dealing with.
Show that mongolian bar tender your gold and he will probably sell you his most prized possesions, his Yaks or horses maybe even his missus ( thinking about it, she would be first on the list)
Have you seen https://www.goldmoney.com/ you can already spend you gold with a debit card anywhere you can use a credit card. Cheers
Thanks i'll look into it
I think this is an ideal solution; HOWEVER, I don't see it coming to fruition any time soon. This is because; 1. The amount of time to make bullioncoin fully acceptable in the marketplace. and 2. The amount of time for the public to become confident in the integrity and security of the vaulting operation.
Goldmoney is just starting to get to that point and they have a 20 year track record. Goldmoney is a similar operation without the crypto, they let you spend your gold in fiat via a mastercard.
It could take off as soon as the metal prices skyrocket. cheers
Not a bad idea at all! Some people want to hold pm's but do not want to store them. It sounds like this could be an alternative
It would have to be the best cryptocrurrency on offer in my opinion. Cheers
At least it might has some intrinsic value, that's for sure.
i'll keep following cryptos, but I keep my distance... can't buy what I don't comprehend, peace
It's definitely worth keeping an eye on my friend.