Smoke&Chill Chapter 2: New Crypto to be backed by real Gold!!!???
What's up my Steemoligist!!!!!!
Welcome to another chapter of Smoke&Chill.... In this Chapter we talk about blah blah blah blah blah.... Hahahahahahaha!!!! The title has one thing I talk about. If you wanna know more you gonna have to watch the video to find out what happened in tonight's chapter.
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https://www.macobserver.com/analysis/heres-kik-users-need-know-kin-cryptocurrency/
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Dope post bro.
Yea I just read about that yesterday. Definitely something I'm looking into just because I'm a precious metal investor. The idea is genius but just because they're the first it'll for sure be some kinks to work out. I never bought into an ICO before so I'm thinking about getting a few just cause...
Thanks for watching!!!! Please don't go all in. Only invest what you can afford to lose. I'm not a crypto trading expert. Just someone giving my two cents. If you do invest I wiash you the best of luck and hope you rake in nice profits... Keep me informed and let me know how it works out if you do invest.
Preciate the advice. Yea definitely wasn't going to make a large investment...just a few coins because it looks like it has potential and I already play in the precious metals arena. I'm only heavy in ETH, BTC and Steem right now. Definitely good advice though and I will keep you in the loop for sure!
Check out my page too bro! I'm only 3 posts in.
Gold is never free to store, so you will always have to pay a premium to "own" it. This premium might be hidden, but it's always going to be there. If you're storing it yourself, that would be in the form of safes and transportation risk, or insurance. If someone else is holding it for you, there might be fees, or exchange premiums, but those fees will be there.
Also, if gold is used to back a crypto, it can't be trustless. You're going to have to just trust the person holding the gold, that it's actually there. If it isn't, once found out, the currency you're holding goes to zero.
Just my 2 satoshi.
Thanks for the comment... I'm not promoting the coin but just giving out information. Besides its not like its the first time currency has been pegged to gold...it was like that for a very long time....so I dont see how it cant be implemented with Crypto. Just with the notion of them wanting to peg Gold or silver to a crypto coin is HUGE!!!!!!
I really like these Smoke&Chill chapters!
Hope you keep doing them.
hello. good info. my issue would be trying to get the gold delivered, they say it's backed by gold but try and get it and you may find out different. i can see the LBMA laughing their asses off, 'you want to send us gold and we send you a digital token, sure whatever you say' but this onegram thing has the backing of the religion so may be honest and legit with the fear of god behind it idk, we'll see. digixdao is run through the LBMA and is doing well so far but i am telling you try and actually get the gold in your hand and you will find they don't have any. i might get in as long as i don't have to send any actual gold and can just get it like any other crypto.
so i looked into getting some of this onegram and i come to find out they don't except bitcoin. i get the impression they know very little about cryptocurrency. how can you claim to be a gold backed crypto and you won't except it as payment and seem to have a general disdain for crypto's in general/ i think if one was to simply buy bitcoin with whatever one was going to put in onegram and hold it, when btc goes to 10k you can get five times as much gold. jm bullion and amagi metals sell gold for bitcoin.
Wow that sounds crazy!!!! Now I wish I never talked about it