Russia and China will start a gold backed crypto currency and Bitcoin will look like the giant Fiat currency that it is more than ever.
Russia and China will start a gold backed crypto currency and at that point Bitcoin will look like the giant Fiat currency that it is more than ever.
A gold backed cyrpto would definitely gain some favor. But, I don't know if people realize that a crypto backed up by the blockchain on all the nodes around the world is a very solid back-up plan too. It might even be better than something backed by gold where you cannot be absolutely certain of the audit process and accounting for the amount of gold supposedly held. Those two countries have been incredibly secretive about their gold stores.
A crypto backed by any amount of gold is better than Bitcoin that is backed by ZERO amount of gold. Not that hard to figure out and you cannot deny it. There will be fiat crypto for the sheep and gold backed for the fortunate who know better.
Unless you have the gold in your possession, it's not backed by anything. Why don't you just go buy the gold? By the way, I like the metals quite a bit. I'm just saying I'm tired of trusting governments about money, foreign or domestic. It hasn't worked out very well. They tend not to be completely forthright.
Hello, could you provide any evidence?
Go look for yourself. And do not be a Snopedope.