I just thought of another part of there business plan that makes no sense with the gold. (Not like it will ever exist or be bought with profits from mining other cryptos) but lets just assume the gold is real for a minute.
How do I get the gold
After 2 years you can swap your DIG (or another one of the 4) 1 to 1 to a coupon that grants you your amount of gold on the bullion. If I read the whitepaper correctly then it works like this:
You can swap your Cryptobontix tokens to special utility coupon tokens which are redeemable during specific periods each year for physical bullion. Every year, until the expiration date of the coupons, 1/15th of the token float becomes available in November for the month. The redemption of the token coupons will be able to trade for the physical bullion held against the token.
Once the order forms are filled out, token holders can redeem their coupon tokens by placing their bullion order at the Cryptobontix website at any point throughout the year by sending in their coupons to the prescribed address. Then the shipping department will process the transaction when the November redemption window opens and will ship the physical bullion to the token holders.
So there going to ship you the physical gold at the value DIG that you sell. Well that requires 1099 forums and KYC laws. Than if you try to sell the gold you have to provide ID and get 1099. Also Gold is unlike any other asset with capitol gains. Not only would it have short term but there is long term as well, it could be as high as 28%!!!!
The whole idea of them backing DIG in billions of gold makes it centralized to the entity that possesses it. If they send you the bullion thats centralized too and not anonymous since 1099 forums are needed on the sale. The whole point is the business plan in general is a scheme, the mining part doesnt equate to profits vs cost and the whole good idea is silly. Bitcoin doesnt need to be backed by gold nor do any cryptos what makes it valuable is the fact only so many coins can exist. Supply vs demand of those limited coins and vendors that accept it as a forum of payment.