A lot of the Bitcoin folks are going to love this: it's (not, but going to get marketed as) a bank account denominated in gold:https://www.tallymoney.com/
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Can someone build a competing service that uses another dumb commodity? I want a pork bellies bank account.
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1.2% per year? The active managed fund industry from the 90s called...
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Why bother? Either buy physical, buy Perth Mint or use goldmoney....all those are legit, and the last is even blockchain! I don’t recall whether the latter two charge based on AUM though. 1.2%/yr seems high-it’s not an active fund.
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