Precious Metals and Cryptocurrency

in cryptocurrency •  7 years ago  (edited)

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Next Phase of the Cryptocurrency Revolution: Gold 2.0

There's a lot of overlap here between the traditional gold and silver bugs...and the new age Cyptonauts. Underlying point being a secure asset for investment/safe-keeping.

There's some who've been in gold and silver for years as part of their life savings strategy/investment...and there's some within this group who are not at all interested in cryptocurrency. It's kind of a righteous stubbornness of sorts in being resistant to change and new technology.

The same point exists within crypto - where there's many millennials who don't really give a darn about precious metals and think that digital assets are the future here.

Then there's the group who is open to all of the assets here. I mean from a very basic perspective - it doesn't really hurt to be open to holding/receiving various kinds of assets.

An interesting point is emerging....forming within crypto and precious metals where some crypto's are being formed as a sort of new way to hold precious metals. Where your digital asset is backed by the precious metal. It's cool and innovative to connect things together...and it does encourage a price floor of sorts...in that the crypto-metal is tied to the price of the metal. This can be argued as both good and bad. It's good that it's value is attached to the price of metals....and it's bad that it's price is attached to the metals.

Some think that plugging in precious metals to crypto creates more reliability and stability of the crypto. The thinking is that there's less volatility to the down side and still the possibility of speculative upside as a result of growing community interest.

All in all it's good for markets and trading...making it easier to exchange value around the globe.

I am reminded to challenge myself in my perspective and outlook. To really challenge myself to take the big picture perspective on matters and see the interconnectedness of existence here.

So I think precious metals to crypto's is cool and we'll over time see everything being plugged into cryptocurrency - as it's the digital store of information that can be trusted and relied upon as an honest measure/record of accounting.

I'm often reminded within looking/investigating/researching to challenge my thinking and take the opposite approach. And from here - see how many different perspectives it's possible to see as various "stances and positions". It's an exercise in expanding my reach from the perspective of taking a well rounded approach.

I think choice causes humans an awful lot of stress I don't even think many have taken the time to breathe....to take a breath to slow down and actually process....articulate the extent of the strain and stress here within having so much choice. There's kind of an unsettling experience within being in a constant state of flux. Settlement is ironically the "secret".
@research-mind

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Not mad at you @worldclassplayer

Keep STEEM N ON,
Frank

Then there's the group who is open to all of the assets here. I mean from a very basic perspective - it doesn't really hurt to be open to holding/receiving various kinds of assets.

This is definitely me. In terms of gold, I think I will probably gain exposure via stocks as they leverage your returns on gold where as holding the underlying asset will only generate you the appreciation in gold price. Of course stocks have other risks associated with them.

As for Bitcoin, I really do think a lot of younger people would prefer to hold it over gold. I can't remember the source on youtube (maybe gary vee?) but they said instead of 16 year old rich kids from the upper east side of NY wanting a new car for their birthday, they want a lifelong free uber pass. I think Bitcoin is similar in this respect when comparing to Gold.

The Bitcoin system is built so that eventually there will be a maximum of 21mn Bitcoins. According to the World Gold Council, the central banks of the world hold 33,604 tonnes of gold, which is 1,080,404,044 oz. That means each BTC would have to be worth 51.45 oz of gold. At the current price of $1348/oz, that works out to $69,354 per Bitcoin.

wow - thanks for the stat.

That's a really cool observation. Really showcases what a "hot" buy Bitcoin is.

The 21 million supply limit is a point that's going to get increasingly interesting as we move forward - every year it get's more difficult to be a Holder of Bitcoin.

Tim Draper just said yesterday that price would be >$200k by 2022. A lofty goal, but I'm not complaining.

Exchanging crypto for metals is an amazing thing. I would side with the metals gold/silver/copper as the better long-term investment, crypto as better short-term investment. @ironshield

yea, but don't invest more what u can afford to lose! ;)

I have looking into DGX and DAO. It got me a little excited but then............I don't know man. Maybe I am too traditional.
I want a crypto that is pegged to gold in an absolute sense and can be traded at par with the precious metal. I know this might not actually be possible but I am thinking of giving it a try. Who knows it could be the next big thing to gold :-)

Do you have any favorite places online like vaultoro where you can trade crypto for gold?

You can trade on Bitshares,gold and silver.Virtual gold and silver. :)

bitshares

gold 2.0 looks amazing already you have created waves in steemit,great to see you again sir,have a great day.

Awesome blog post sir,probably the best of the best.you are doing amazing job in our community,have a great day.

amazing thats the reason whuy i am such a huge fan for you.great going ,keep it up.

Looks so precious like my crypto holdings awesome blog post sir.

crypto is all on trust right now and there is more backing up needed

These are really precious like your blog post,awesome work sir.

Check out http://www.marketprotocol.io/ , you can get exposure to Metals, as well as MARKET will provide exposure for Traders to other cross-chain crypto assets without having to manage multiple exchanges or take custody of a separate asset. This means Traders can have similar price exposure to owning a cryptocurrency like Monero or stock like Apple without ever transacting in the asset.