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Message Subject Goldtard/Cryptotards we Ride
Poster Handle Anonymous Coward
Post Content
They are taking something that has zero tangible value and pegging it to a physical metal that has an actual use in industry's..

Am I the only one who see something wrong here?
 Quoting: Anonymous Coward 74661974

I think you're seeing it incorrectly. Encrypted database technology can be used to create any system of accounting, and you can design which parameters are opaque and which are transparent.

It's entirely possible to gather together a certain amount of gold or silver or copper or whatever and then put it in a public repository, available for public review and build an encrypted database on that commodity.

Then coins are issued on the amount stored, people who deposit metal into the system are then offered interest on their deposits, like banks used to do with money but no longer do because of the debt burden.

But banks are not required because the technology, the encrypted database performs the function of managing the account.
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