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Message Subject Goldtard/Cryptotards we Ride
Poster Handle Anonymous Coward
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Remember, several states in the US have already passed legislation making gold and silver legal tender.

I think Texas and Utah have both set up plans for similar gold repositories. Basically you just build a crypto-currency on the amount of gold in the repository and make the crypto-coins fungible with gold specie.

I think the 'profit' would then be private companies that develop applications to link the state gold coins to each other and then to other asset backed coins say if Norway issued crypto-coins on their oil production, etc.

But in general you want to 1) eliminate seniourage on minting new gold or silver coins for people (they exchange a crypto-coin for physical and the crypto-coin 'disappears' from the e-gold-inventory and 2) offer interest for people to deposit their gold or silver in the repository say 2% in gold or silver coin. That will end backwardation in silver and gold and break the banks backs.
 
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