RE:This bothers meFord, I posted this on CEO recently related to your thoughts here :
If is goes through .. it goes through and I get paid from Cunningham. I am in the wait camp though. But I just can't shake the feeling I get from this "tokenization" that it goes against the very reason I became a stacker in the first place. It's the same feeling when I see bitcoin constantly using a gold coin with a B on it as a representation of what it is.. I laugh inside saying "yeah it is not .. stop appropriating the value and beauty of Au. to mask they fact crypto is nothing you can hold." My feeling is this new "idea" far more is used to legitimize the crypto world than the benefit from the mining industry gains from adopting a crypto.
I could get on board IF the actual proof of work is done on the Au to back the coins value. Meaning the gold was extracted / processed / dorried and then secured somewhere to provide the actual value to said coin. So create a gold back alternative crypto currency . More gold processed means more tokens available to buy. What Cunningham is doing (I believe) with their placer claim is they are giving value to the coin for the dirt they believe has "potential" value ... but not proven value. IMO the mining work must be done to create the value of the coin Side note I also chuckle at the crypo world calling their "coin" creation "Mining." It seems they are really trying ride the coat tails of that which has been "money" for a very long time ! Au doesn't need to adopt a term like blockchain to legitimize itself. I understand that maybe its good to bring a younger audience to this space as you say. Which is good. My hope is they buy an actual gold Buffalo or Maple leaf 1oz coin and learn what us stackers understand. This is super cool to hold onto vs looking at a string of computer characters. I mean it's pretty F'ing cool to feel like a pirate ;)