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RE: Happy New Year! 🥂 An Exciting Year is Awaiting Us, An Oath to the Blockchain #1 💟
great article. One question, what are your thoughts on crypto currencies that will come out and are backed by gold or silver? One is set to come out in January, I am not sure if the silver is already mined or future mining, which means a world in difference in value. Bringing Bitcoin mainstream was not the best idea, as I know how CME can manipulate prices and pump and dump, without actually owning all. I am new to this site and crypto currencies, so I hope if they do try it, they get shut down, but time will tell which currency emerges in the next 3 years.
A crypto being backed up by silver/gold is a great thing, enabling an easy way for anyone to collect their share with the ease of a mobile device. Only thing is though, you need to be certain that the one providing these services and claiming it to be backed up, has actual credentials (be trustworthy). I quickly heard something mentioned in one of @Stan's interviews about a gold backed company with actual credits and government ties that was about to partner up with Bitshares.
I was kind of curious when someone was going to try that. It seems like something that would have already been done, but to back that you would have to have a serious financial incentive up front. As you mentioned I could see it with a mining situation but to have the silver/gold needed to back a 30,000,000 or so project would be pretty crazy.