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RE: Did Bitshares Just Help Create "Perfect Money"????

in #bitshares • 6 years ago

Best part of this is the plan can definitely work out. The gold ETF (GLD) is a similar idea but in the stock market. Great to see it in the blockchain!

6 years ago in #bitshares by
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     6 years ago 

    The gold ETF is not backed by physical gold one to one. You own a share of GLD does not mean you own any gold at all. It's being manipulated.

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     6 years ago 

    And BitGOLD is fully backed 1:1, and with ZERO counterparty risk!

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     6 years ago 

    My bad. Apparently Van Eck's OUNZ allows retail investors to convert to physical gold while only "authorized participants" (not us) are allowed to redeem GLD.

    https://www.barrons.com/articles/a-gold-etf-that-lets-you-redeem-shares-for-gold-1468641673

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