RE:Digital Gold The problem I see with a gold backed crypto is the inherent decay of anything physical.
For example you buy gold over spot, you sell it below spot and you'd have a cost to securely store a meaningful amount. There needs to be a steady increase in value just to break even.
To clarify im not a crypto guy, I just see where it would win out in that sense. The other thing is that while a gold backed anything sounds great to people like us (that believe in gold) a lot of people, logical or not, just don't care if it's backed by anything.
it might replace the way people buy gold and silver (some people no longer holding coins or bars and buy instead) but at that point it's basically just a gold ETF like they already have.
michaelstl wrote: Here is an article from Kitco from Peter Grosskopf. Please notice at the end of the article he talks about digital Gold. I believe that blockchain digital metal vehicles like those backed by Gold and Silver will win out versus other crypto type investments without the backing.
https://www.kitco.com/news/2021-05-24/The-math-for-higher-gold-prices-is-more-compelling-every-day-Sprott.html