Any pegged fiat token without pegging eventually succumbs to lack of liquidity due to lack of banking system access. USD market cap when factoring UST interest rate swaps alone are well over $500 trillion and like more like a few quadrillion $. BTC just hit $100 billion again.
Conversation
Banking system access isn't a strict requirement. Fiat can be vaulted and cash shipped around the world, tokens redeemed at warehouses.
1
Try actually getting pallets of cash without being tied into the banking system. Impossible. And if you do by some miracle collusion, you’re looking at 2% bare minimum to more like 10% deposit fee. & easy for a central bank to remove useability. ♥️s this trick.
1
1
I don't doubt it. I think we agree that fiat sucks.
1
1
Fiat kills. Why it is vital to front end a psychopathic format.
1
1
looking forward to the day we can delist all fiat currencies.
2
2
4
We built a safe way to transition from fiat. Gold’s a great bridge. Governments are forced to lax laws on buying gold for retail to mop up the $100B+ extracted yearly supply as gold sits on the fiat base, real estate next. 🌍🌏🌎 needs asset tokens for crypto commercialization.
1
I would definitely support holding gold as a store of value above fiat. I don't know what the regulatory implications are of trading gold. Not sure why more aren't doing it.
1
1
The short answer is it’s hard. You can’t use a major bank services co like Brinks, Loomis, G4S, etc in the US due to e-gold failure AML/KYC 15+ yrs ago. Plus sourcing. & you need a moat-like scalable indisputable bar inventory log anchored in Bitcoin like we built .
1
1
1
And let’s remember market timing too. Between USDT, fiat stablecoins and DGX up over $4 million, 4x USDT its first year on 2015-16, marketing timing is finally right for a fully gold backed stablecoin.
1
2
2
Physically redeemable digital gold/tokenized warehouse receipts is great but are these treated like physical gold for purposes of trading? Are they contracts, regulated by CFTC? What about EU, elsewhere?
Custodied physical gold bullion delivered within 28 days is regulated by FinCEN BSA-USA PATRIOT Act. Our legal counsel at Ouroboros and in-house are the most exp lawyer in crypto. Plus my e-payment exp 2002-08 helps. Open to citizens of 174 countries today!
1
1
Here’s the list of 21 countries we cannot buy or sell AGLD gold stablecoins into or out of.
1
2
Show replies