In order to help answer this question the latest feature report from The Hutch Report provides Goldmember, and any other curious minds, an objective overview of the Gold Backed Cryptocurrencies that are starting to crop up all over the place.
“I love gold” was the classic line from the Austin Powers movie, Goldmember. It also sums up pretty much how most gold bugs feel about the subject. It seems that the amount of zeal for Gold can also be compared to the zeal for Cryptocurrency for those us who have been bitten by the Bitcoin bug.
It is no wonder then that we would see efforts to converge Gold platforms, which have been centuries in the making, with the relatively recent innovation and technical advances now possible via the blockchain and cryptocurrencies.
As with any superhot areas that are trending there are all kinds of characters who become involved. There are the true innovators, the business developers, the visionaries as well as those looking to capitalize, in any way they can, just hoping to profit from the trend.
Who and which ones are the true innovators developing value?
Which ones are the scam artists just hoping to make a quick buck from a trend?
Even way before Bitcoin become a household word, the road to today is littered with failed attempts at creating gold backed digital currencies. Will the introduction of the blockchain make a difference?
In order to start answering these questions, The Hutch Report has taken an objective look and conducted an analysis of over 20 gold backed cryptocurrencies as well as several bullion exchanges incorporating blockchain technology. The analysis is meant to provide a neutral and objective look at the nascent vertical in order shine a light on who some of the budding players are and let the reader make up their own minds as to who and where true value is being created.
The analysis is free and can be downloaded from here:
https://www.thehutchreport.com/feature-report/
We hope you enjoy reading it and look forward to your feedback!
Goldmember!
Interesting. I did not know there were so many Gold backed cryptos. Any Silver backed?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yes, there are quite a few silver backed ones as well, although we only covered the Gold ones in the report for which we read and studied their whitepapers. Are you more of a silver bug than a gold bug?
The strengths and weaknesses of the gold would also apply to silver. Some of the silver ones are LNK, Indiegogo and SLVR.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Glad you think so! Thank you.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Wow! I actually learned a few things! Awesome report and great to see the review of all those gold backed altcoins. For a second, I was wondering why Bitcoin Gold was not mentioned in there and then realized that despite the name, that it has nothing to do actually with Gold or Bullion. I did not know so many gold backed cryptos were launching, thanks for the great analysis.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you @wanderingmind. That would be cool if you resteemed and told your friends about the report as well.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Consider it done :) !
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
resteem1
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post was resteemed by @resteembot!
Good Luck!
Your post was resteemed thanks to @wanderingmind
Curious? Check out:
The @resteembot users are a small but growing community.
Check out the other resteemed posts in resteembot's feed.
Some of them are truly great.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @thehutchreport! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post has received a 4.88 % upvote from @buildawhale thanks to: @thehutchreport. Send at least 0.50 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.
To support our curation initiative, please vote on my owner, @themarkymark, as a Steem Witness
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@originalworks
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The @OriginalWorks bot has determined this post by @thehutchreport to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
To enter this post into the daily RESTEEM contest, upvote this comment! The user with the most upvotes on their @OriginalWorks comment will win!
For more information, Click Here!
Special thanks to @reggaemuffin for being a supporter! Vote him as a witness to help make Steemit a better place!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post received a 4.66% upvote from @randowhale thanks to @thehutchreport! To learn more, check out @randowhale 101 - Everything You Need to Know!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post was resteemed by @resteembot!
Good Luck!
Your post was resteemed thanks to @petpeeves
Curious? Check out:
The @resteembot users are a small but growing community.
Check out the other resteemed posts in resteembot's feed.
Some of them are truly great.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Resteemed to over 5300 followers and 100% upvoted. Thank you for using my service!
Send 0.100 Steem or 0.100 Steem Dollar and the URL in the memo to use the bot.
Read here how the bot from Berlin works.
@resteem.bot
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post was resteemed by @resteembot!
Good Luck!
Curious? Check out:
The @resteembot users are a small but growing community.
Check out the other resteemed posts in resteembot's feed.
Some of them are truly great.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit