The silver certificate on the right used to represent 5 real dollars (weight in silver). The certificate was backed by 5 silver dollars (1,856.25 grains of silver).
The law (US Coinage Act of 2 February 1792) defines a dollar as 371.25 grains of pure silver. This is a weight, nothing more and nothing less; a true dollar is an exact amount of silver by weight. A troy ounce is exactly 480 grains, thus a dollar is 371.25/480, or 0.7734 troy ounces of silver
Who cares…I'm sure the moon would be worth a ton if you could purchase it. It doesn't matter if a microchip made from silver is worth more than the silver content itself. A bow is worth more than a tree branch. A bow being made of wood, doesn't make the branch it was created from worth the same amount.
Well it's an exact weight so technically 24.055429 grams
Some metals worth more than others…done with you shill. Enjoy watching the Rothschild family's monetary control crumble. BITCH
Physical metal at home or 3rd party vault (not a bank). Possibly trusted 3rd party vaults linking physical vaulted metal ownership to blockchain rights for online transactions and such. It would be currency, not money. However, it is the closest currency we can get to money. It may be necessary for daily transactions and online purchases (while savings held physically). It would need to be 100% "backed" and redeemable and simply represent the vaulted metal. Blockchain would simply be the tool and would not provide intrinsic value to the units
1st off, an emphasis on keeping most of your savings in physical metal in personal possession (or a 3rd party local and private vault if wealthy). Consider checking out Kinesis.money as a viable option to consider for the currency aspect (solved Gresham's law problem of good money by group sharing transaction fees to provide interest on savings again). 100% 1:1 backed and redeemable.
Focus on acquiring weight from your local "bullion dealer". You can currently find it for $2 (or less) over spot price (or just look round a bit and you should be able to find). Don't buy numismatics for collector value. Buy 1troy ounce .999 fine silver bars and rounds (until the gold:silver ratio closes closer to 20:1)
Nope, 1:1 fully backed (blockchain simply represents metal). Check out their website.
Well bitcoin kinda died to me when they opened a futures market (day it topped). They sold out to the bankers in my personal opinion. The beauty of blockchain is that it can only be in 1 place at a time, opening a futures market in blockchain just seems idiotic. That is a biased view though, having watched the futures market destroy precious metals markets via suppression/manipulation. ABX (Allocated bullion exchange) who already stores and transacts physical metal has created the system. Check out the blueprint and whitepaper. There are vaults globally and have a great record. Also, there are a ton of metal backed blockchains, but mostly simply get hoarded. Then why take the risk of any third party? The problem is Gresham's Law, where bad money drives out good money. If you could spend pedo-paper, then why sell your metal (especially if just bought because the owner clearly thought investing would be a good idea). Since the minute transaction fees are group shared (like a credit card company sharing the fees), there is incentive to use as a currency because it adds to the monthly interest payments (paid out in metal bought with the transaction fees on the open market…causing a drain on the physical and hopefully adding pain to the banksters struggles to maintain their monopoly games.)
Blueprint:
https://kinesis.money/documents/translations/kinesis-blueprint-en.pdf
Fuck the Fed