If someone told you that alt-coins were the answer to storing gold would you agree? It sounds strange that one would consider storing gold in the form of Bitcoin and the other way around.
However, the Bloomberg Bitcoin Summit was a short while ago, and the consensus from Barry Silbert is that Bitcoin could be the way to store gold. As you build your GCR business, do you see the potential for this to happen?
Having a coin backed by gold is awesome, but it’s also good to know that there is value in the coin. What if the GCR coin became the standard to hold value when the dollar goes belly up?
Today, we’ll share with you some thoughts on gold and why using physical gold presents a good challenge that makes alt-coins look good.
Why Alt-Coins Make Better Sense
You’ve been talking about gold or quite awhile, but if you walked around with gold in your pocket all of the time you would get robbed. Walking around with tons of cash isn’t good either, so hat do you do?
Thankfully, the concept of digital currency makes good sense. Would you go to the grocery store with a pile of gold in your hand? Right now, it would be dangerous to walk into a store with gold rather than money.
If you have been trying to figure out how gold and cryptocurency can meld together, Bitreserve started on a good idea. Here is the idea behind what Bitreserve started.
1. It’s a different kind of gold card.
2. When the gold is sent to the card it is automatically transferred into a fiat currency.
It’s simple, but it’s also complex in many ways. It’s controversial still, and it’s viewed with 100% support by those who have been buying Bitcoin and other alt-coins and trading successfully.
If you have been anxious about the safety in cryptocurrency, remember that your paper money isn’t doing all that well. Halsey Minor, CEO of Bitreserve made this statement to Inside Bitcoins in a recent article.
When your bills are in dollars, you have to hold your cash in dollars, or you’re risking, depending on how much money you have, you’re putting yourself at risk.
Using this “cloud based system” allows users to hold their money as gold. This also makes it easy for digital transactions which are commonplace in this day and age. Even if you find yourself clutching your checkbook and you are determined to be that one old-fashioned person, just keep in mind that this is probably going to be phased out pretty soon.
We can’t say when or how, and we cannot predict the future. However, we can assure you that what we see happening on the horizon is promising. Gold is something you can see and hold in your hand, therefore you tend to believe it is more real to you.
If you look back over the last ten years, you can see the changes little by little into our virtual world that speak volumes about how the world is changing. So, if physical gold makes you feel better, then you should know that Bitreserve holds physical gold in the vault that is equivalent to what is in their system.
It’s really the only way that they can make sure that their system is reliable. Can you imagine if they were promoting this idea yet had no gold to back it up? The idea that they can turn cryptocurrency into what folks can use for commerce is both ideal and astounding.
Did you ever think that you would see the day when virtual currency was becoming the standard?
If you would like to learn more about how alt-coins and how they fit into the future, and how our GCR coin is coming to fruition, please visit our website at www.globalcoinreserve.com today!