Quote from: The Pharmacist on January 28, 2020, 04:22:25 PM

If you really want to own gold, just buy some physical gold. If you don't want to physically own it, there are ETFs and mining stocks and that sort of thing. I wouldn't want to own a cryptocurrency that's supposedly backed by gold, since there would be too much doubt in my mind as to whether the gold exists in somebody's vault.

ETF shares and paper gold technically suffer from all the same trust issues. Gold-backed cryptocurrency offers something that they don't: the ability to trade without red tape and KYC, use decentralized platforms, etc.

The idea of trading pairs like XAUt/ETH on a DEX sounds really appealing to me. I have a few gold bars at home but that's only good for long term investment.

I would prefer trading PAX's gold-backed PAXG rather than anything associated with Tether and Bitfinex, but the market is pretty dead. I'm sure Tether's product will gather much more volume and liquidity.