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Australian Broadcast Corporation reports
Australia's biggest gold refiner, the Perth Mint, is developing its own cryptocurrency backed by physical precious metals.
The ambitious plan, which is subject to a confidentiality agreement, will make it easier for consumers to buy gold.
[...] For the Perth Mint, the need to bring investors back to precious metals after a boom in alternative investments such as cryptocurrencies posed an opportunity, according to chief executive Richard Hayes.
"I think as the world moves through times of increasing uncertainty, you're seeing people look for alternate offerings," he said.
But Mr Hayes said the volatility of some of the current cryptocurrencies meant they did not suit all investors.And that is where a gold-backed offering may fit.
"With a crypto-gold or a crypto-precious metals offering, what you will see is that gold is actually backing it," Mr Hayes said.
"So it will have all the benefits of something that is on a distributed ledger that settles very, very quickly, that is easy to trade, but is actually backed by precious metals, so there is actually something behind it, something backing it."
What do you see here: some golden cryptocurrency dust sprinkled around or a decentralized ledger of precious metal transactions?
(Score: 2) by MichaelDavidCrawford on Wednesday January 24 2018, @10:01PM (7 children)
For a stock to up ten percent in just one day is regarded as a Heaven-sent miracle.
Cryptos go up and down that much all the time.
I had the idea that I could use the volatility to provide for a comfortable retirement. But I have only one success, I bought NAGA for $1 at its ICO then sold it for $3.15.
Quite likely I'll end up like that ancient lady who hangs out in the Pearl District in her wheelchair, begging for spare change. Quite likely she doesn't have a 401k.
I must have a certain minimum amount of money in my credit union to feel confident I can cover my expenses. Once a week I tally up what I've spent then sell that much crypto. But I don't try to time my sales, so quite commonly I sell at a loss. I am mostly down with that because I have only had to sell small amounts.
Yes I Have No Bananas. [gofundme.com]
(Score: -1, Flamebait) by Anonymous Coward on Wednesday January 24 2018, @10:16PM
You're like a small boy who just learned how to rape. You learned a valuable skill, but you're not adept enough at it for it to be impressive. You are not Mario Antonio Scubafitz, and you never will be! Vanish!
(Score: 3, Interesting) by Sulla on Wednesday January 24 2018, @10:23PM
Trading between BTC and DOGE/Lumen I am up 25% in number of BTC since the beginning of the month. I think its more of a fun thing to do than a way to invest money though.
Ceterum censeo Sinae esse delendam
(Score: 2) by Arik on Wednesday January 24 2018, @10:35PM
Why would you think that? For all you know she could buy and sell you like a lollypop.
If laughter is the best medicine, who are the best doctors?
(Score: 1, Insightful) by Anonymous Coward on Wednesday January 24 2018, @10:39PM (3 children)
How much are your minimum monthly living expenses?
(Score: 2) by MichaelDavidCrawford on Wednesday January 24 2018, @11:38PM (2 children)
Before I became homeless I used an elaborate spreadsheet to budget both my business and personal budgets at the same time.
I'm not doing that again yet as I am working on a fixed-bid contract. I'm getting better with time but when I started here a year ago I was dismayed to discover that all my coding skills has atrophied severely.
I'm charging my clients a reasonable amount of money but I have no clue when I will achieve a milestone so receive some of it.
My spreadsheet says my monthly expenses are $1630. I expect there are expenses I didn't think of just now. It's reasonable to say my monthly expenses are $2000.
I only pay $192 in rent because my apartment is mostly paid for by The Government Tit. In a few months my case manager will do a recalculation, which I expect will result in my paying the entire thing: $925.
I will buy a MacBook Pro sometime soon. That would benefit my business in all manner of ways. Quite likely I'll buy a used but refurbished one from http://www.macsales.com [macsales.com] - the one I want is $1,195.
But there is some possibility I will buy one brand-new so I can do Thunderbolt 3 drivers.
Yes I Have No Bananas. [gofundme.com]
(Score: -1, Offtopic) by Anonymous Coward on Wednesday January 24 2018, @11:46PM (1 child)
Why not set host files to 0?
0.0.0.0 pixel-tracking-whores.com # Humanz who sell bodily functionz for ca$h yeh
(Score: 2) by MichaelDavidCrawford on Wednesday January 24 2018, @11:54PM
most of the sites that provide hosts files that blackhole malware have both kinds: a hosts file with 0, and a hosts file with 127.0.0.1.
If I remember correctly 0 works well on Windows, but on Mac OS X it is a broadcast address.
Or something like that. My memory as it always is hazy.
Yes I Have No Bananas. [gofundme.com]