[Poll] REAL GOLD BLOCKCHAIN?

[Empirical1.2]

No. The Digix crowdsale was incredibly suspicious. They raised what $5 million in 14 hours? Possibly a legal workaround or something else going on there.

I didn't thought that way before your comment... Have you some evidence that the majority of the tokens didn't reached a wider audience but only a little minority?
(the only suspicious, that make sense after your comment, was that they apologized because many fund-raiser never managed to sent their ethers to the crowd-sale addresses due to the "fact" that they didn't configured they wallet's for variable(?) GAS transactions ...)

If you look at LISK for example they raised around $6 million recently and that took a while, you can also see from their thread that the level of interest from a wide group is extremely high. https://bitcointalk.org/index.php?topic=1346646.0

Also Augur raised a similar amount but it took a while and there was also a high degree of interest, their Youtube video has over 200k views. https://www.youtube.com/watch?v=yegyih591Jo

Digix clearly doesn't have even a minuscule fraction of the interest LISK/Augur had/has & yet it supposedly raised the same amount of money in <1% of the time from a wide investing audience?

It's an interesting project but no I don't believe Digix genuinely entered the top 20 highest crowdfunded projects in history in the space of 14 hours. https://en.wikipedia.org/wiki/List_of_highest_funded_crowdfunding_projects It doesn't compute unfortunately.

[giant middle finger]

My answer is "no", I don't think gold is needed here. I could not find a poll response that was appropriate for me to choose. Crypto is not perfect and there would be much to gain from backing it with real assets, but I don't see gold as delivering a lot more value in a way that could help one of these businesses much.

First, gold bugs are mostly suspicious sorts. Average age is probably around 50. They don't even trust paper money or electronic money, so even though we trust crypto, it's a big stretch -- most of them won't. I know people here think there's a natural libertarian overlap, but I think converts are difficult to attain this way and that the overlap is therefore overblown -- you won't attract that many of them and the ones you do will cost you too much in terms of time/effort/money.

Second, storing/transporting/insuring gold is costly and it only makes sense if you have lots of volume. Until then, it's hard to buy/sell gold for anything near its spot price.

Third, maybe gold is as good as an asset gets, but it's still deeply flawed. Its price is heavily manipulated by big powers (isn't that one reason many people turned to crypto?). It's not as good of a store of value as it was in previous generations; a lot of younger people don't see it as so important as previous generations did. I still hold gold just as I hold crypto. I think (there's a good chance that) its value will stand the test of time. But I don't think it's a good basis for this kind of business.

Just so I understand.. what do you mean in regards to 'this kind of business' specifically?

Why, the "human value business" silly

When you buy a stock or coin, what are you buying?

The potential value to be created by that community, that said, I voted to suppport your gold vault camera/physical perimeter 24/7 live feed backed Golden Ticket manufacturing facility.  Why? Because it provides value to a quite large group of people who are looking for exactly this level of transparency in their bank or trust. 

[liondani]

No. The Digix crowdsale was incredibly suspicious. They raised what $5 million in 14 hours? Possibly a legal workaround or something else going on there.

I didn't thought that way before your comment... Have you some evidence that the majority of the tokens didn't reached a wider audience but only a little minority?
(the only suspicious, that make sense after your comment, was that they apologized because many fund-raiser never managed to sent their ethers to the crowd-sale addresses due to the "fact" that they didn't configured they wallet's for variable(?) GAS transactions ...)

[Empirical1.2]

One of the issues in the case of Digix is what would happen in the event of a Digix bankruptcy?

In terms of existing competitors there's BitGold.com but presumably they need KYC.

There is also Xaurum which I believe is backing/attempts to back it's units with gold in some way. (They also have the ticker symbol XAU which is pretty good.) http://xaurum.aurumproject.io/

heck.. the crowdfund that was expected to go a month that sold out in 14 hrs is a pretty clear indication of what others think about this. Referring to DigiX of course.

No. The Digix crowdsale was incredibly suspicious. They raised what $5 million in 14 hours? Possibly a legal workaround or something else going on there.

[btswolf]

It's nice to have, but personally I have no use case for such a service.

[BunkerChainLabs-DataSecurityNode]

I added another response that I think expresses your position and possibly others.

There are no statements in the poll that I agree with. A simple 'no' would be better. I just see a lot of reasons why your suggestion could involve a lot of work and expense for little real gain. But hey, if you can make this work, then I'm not against it. Here's an idea: why not run your survey outside of BitShares and see what other potential customers think? This place can be a bit of an echo chamber.

I added no..

Thanks for the suggestion .. this is really just more for fun to see how the Bitshares community thinks of this. .. I already know how some other segments respond to this... heck.. the crowdfund that was expected to go a month that sold out in 14 hrs is a pretty clear indication of what others think about this. Referring to DigiX of course.

Thanks for your input.

[donkeypong]

I added another response that I think expresses your position and possibly others.

There are no statements in the poll that I agree with. A simple 'no' would be better. I just see a lot of reasons why your suggestion could involve a lot of work and expense for little real gain. But hey, if you can make this work, then I'm not against it. Here's an idea: why not run your survey outside of BitShares and see what other potential customers think? This place can be a bit of an echo chamber.

[donkeypong]

Just so I understand.. what do you mean in regards to 'this kind of business' specifically?

I understand it as crypto backed by gold or some interaction that uses one to add credibility to the other, but perhaps you've thought further ahead than I have.

[BunkerChainLabs-DataSecurityNode]

My answer is "no", I don't think gold is needed here. I could not find a poll response that was appropriate for me to choose. Crypto is not perfect and there would be much to gain from backing it with real assets, but I don't see gold as delivering a lot more value in a way that could help one of these businesses much.

I added another response that I think expresses your position and possibly others.

[BunkerChainLabs-DataSecurityNode]

My answer is "no", I don't think gold is needed here. I could not find a poll response that was appropriate for me to choose. Crypto is not perfect and there would be much to gain from backing it with real assets, but I don't see gold as delivering a lot more value in a way that could help one of these businesses much.

First, gold bugs are mostly suspicious sorts. Average age is probably around 50. They don't even trust paper money or electronic money, so even though we trust crypto, it's a big stretch -- most of them won't. I know people here think there's a natural libertarian overlap, but I think converts are difficult to attain this way and that the overlap is therefore overblown -- you won't attract that many of them and the ones you do will cost you too much in terms of time/effort/money.

Second, storing/transporting/insuring gold is costly and it only makes sense if you have lots of volume. Until then, it's hard to buy/sell gold for anything near its spot price.

Third, maybe gold is as good as an asset gets, but it's still deeply flawed. Its price is heavily manipulated by big powers (isn't that one reason many people turned to crypto?). It's not as good of a store of value as it was in previous generations; a lot of younger people don't see it as so important as previous generations did. I still hold gold just as I hold crypto. I think (there's a good chance that) its value will stand the test of time. But I don't think it's a good basis for this kind of business.

Just so I understand.. what do you mean in regards to 'this kind of business' specifically?

[donkeypong]

My answer is "no", I don't think gold is needed here. I could not find a poll response that was appropriate for me to choose. Crypto is not perfect and there would be much to gain from backing it with real assets, but I don't see gold as delivering a lot more value in a way that could help one of these businesses much.

First, gold bugs are mostly suspicious sorts. Average age is probably around 50. They don't even trust paper money or electronic money, so even though we trust crypto, it's a big stretch -- most of them won't. I know people here think there's a natural libertarian overlap, but I think converts are difficult to attain this way and that the overlap is therefore overblown -- you won't attract that many of them and the ones you do will cost you too much in terms of time/effort/money.

Second, storing/transporting/insuring gold is costly and it only makes sense if you have lots of volume. Until then, it's hard to buy/sell gold for anything near its spot price.

Third, maybe gold is as good as an asset gets, but it's still deeply flawed. Its price is heavily manipulated by big powers (isn't that one reason many people turned to crypto?). It's not as good of a store of value as it was in previous generations; a lot of younger people don't see it as so important as previous generations did. I still hold gold just as I hold crypto. I think (there's a good chance that) its value will stand the test of time. But I don't think it's a good basis for this kind of business.

[fuzzy]

just going to throw this out there...

yes, (duh)

[BunkerChainLabs-DataSecurityNode]

This would mean instead of backing assets against a crypto-currency like BTS, there is a real potential to create assets backed by REAL Gold!

The word "instead" is wrong here. Assets backed by BTS are awesome. Assets backed by real gold are awesome too. Assets backed by commodities other than gold may be more awesome than assets backed by gold in many circumstances. Give me all of these awesome assets.

Fair enough. In most discussions I have with others when it comes to backing assets I have always heard a preference towards other things other than BTS. I personally have no issue like that.. but it always comes up when the fact that BTS itself is a penny stock of sorts is the value of what is backing assets. I can remember how not to long ago people even in this forum were losing their minds over the prospect of BTC backing assets.

I like how you think though.. derivative the planet!

[BunkerChainLabs-DataSecurityNode]

This would be brilliant bunker. How could you ever prove reserves though? The trend over time would be towards fractional reserves / corruption.

Perhaps that is a reason why crypto could be considered superior to gold? During the transition, bitgold and bitsilver could play a huge role in bringing everyone in.

In my hangout with jonnybitcoin the week before I actually gave away some of how it could be done. I don't want to get into it here, but it's possible.

[yvv]

This would mean instead of backing assets against a crypto-currency like BTS, there is a real potential to create assets backed by REAL Gold!

The word "instead" is wrong here. Assets backed by BTS are awesome. Assets backed by real gold are awesome too. Assets backed by commodities other than gold may be more awesome than assets backed by gold in many circumstances. Give me all of these awesome assets.