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Bitcoin is here to stay, can't deny that, but I believe e-gold will be the future e-currency if somebody nails it. Buy gold shares with your dollars, use it as

by Thiz 14y ago

Bitcoin is here to stay, can't deny that, but I believe e-gold will be the future e-currency if somebody nails it. Buy gold shares with your dollars, use it as e-currency, exchange it for e-goods, merchants sell the shares and get dollars back. I'd invest money in that venture, and money in that currency.

simcop2387 14y ago
That's essentially what gold backed currency used to be. It'd be "easy" to do that for bitcoin backed currency right now.
- Thiz 14y ago
  Gold backed credit cards are flourishing in europe, that got me thinking about internet transactions in gold.
deleted 14y ago
[deleted]
muyuu 14y ago
The problem with that is... who backs it? it's a radically different concept, not comparable to Bitcoin.
vbuterin 14y ago
http://ripple.com http://ripple.com It's a cryptocurrency system that lets you store ANY currency that someone, somewhere is willing to support through it. So far it's just USD, AUD, EUR, CHF, BTC and a few others, but gold and silver are definitely going to appear soon.
mcantelon 14y ago
The problem with e-gold is it's hard to verify that the gold exists. This isn't an issue with physical gold or BTC.
wintersFright 14y ago
Sounds like a few steps faster than the inevitable death of a gold standard: Gold coins, then bank storage, then gold lending, then gold certificate use, then lending of certificates, then certificates are declared paper money, then overprinted, then gold backing removed…
jacoblyles 14y ago
Sounds like an interesting idea... http://en.wikipedia.org/wiki/E-gold http://en.wikipedia.org/wiki/E-gold
eof 14y ago
there was literally a company called e-gold, which was sucessful until they were shutdown. http://en.wikipedia.org/wiki/E-gold#Crime_and_fraud http://en.wikipedia.org/wiki/E-gold#Crime_and_fraud inevitably, if a competing currency pisses off the governemnt, it will be shutdown if it is centralized. it isn't really possible to do decentralized gold-backed currency (except perhaps, ripple may solve this).
Thiz 14y ago
Found this interesting link about digital gold currency http://www.dgcmagazine.com/voucher-safe-a-next-generation-digital-currency-part-i/ http://www.dgcmagazine.com/voucher-safe-a-next-generation-di...

by Thiz 14y ago

simcop2387 14y ago

That's essentially what gold backed currency used to be. It'd be "easy" to do that for bitcoin backed currency right now.

Thiz 14y ago
Gold backed credit cards are flourishing in europe, that got me thinking about internet transactions in gold.

deleted 14y ago

[deleted]

muyuu 14y ago

The problem with that is... who backs it? it's a radically different concept, not comparable to Bitcoin.

vbuterin 14y ago

http://ripple.com http://ripple.com It's a cryptocurrency system that lets you store ANY currency that someone, somewhere is willing to support through it. So far it's just USD, AUD, EUR, CHF, BTC and a few others, but gold and silver are definitely going to appear soon.

mcantelon 14y ago

The problem with e-gold is it's hard to verify that the gold exists. This isn't an issue with physical gold or BTC.

wintersFright 14y ago

Sounds like a few steps faster than the inevitable death of a gold standard: Gold coins, then bank storage, then gold lending, then gold certificate use, then lending of certificates, then certificates are declared paper money, then overprinted, then gold backing removed…

jacoblyles 14y ago

Sounds like an interesting idea... http://en.wikipedia.org/wiki/E-gold http://en.wikipedia.org/wiki/E-gold

eof 14y ago

there was literally a company called e-gold, which was sucessful until they were shutdown. http://en.wikipedia.org/wiki/E-gold#Crime_and_fraud http://en.wikipedia.org/wiki/E-gold#Crime_and_fraud inevitably, if a competing currency pisses off the governemnt, it will be shutdown if it is centralized. it isn't really possible to do decentralized gold-backed currency (except perhaps, ripple may solve this).

Thiz 14y ago

Found this interesting link about digital gold currency http://www.dgcmagazine.com/voucher-safe-a-next-generation-digital-currency-part-i/ http://www.dgcmagazine.com/voucher-safe-a-next-generation-di...