@PeterSchiff@BitcoinJunkies Tokenized gold means that what people hold in their hands is not real gold, but only certificates. The actual gold is in the hands of centralized institutions, and there is never any guarantee when these institutions might collapse or abscond.
@PeterSchiff@BitcoinJunkies Tokenized gold means that what people hold in their hands is not real gold, but only certificates. The actual gold is in the hands of centralized institutions, and there is never any guarantee when these institutions might collapse or abscond.
@PeterSchiff@TimDraper Tokenized gold means that what you hold in your hands is merely a token, not real gold. But the Bitcoin you hold is genuine Bitcoin—it is both its own token and its own underlying asset.
Tokenized gold means that what you hold in your hands is merely a token, not real gold. But the Bitcoin you hold is genuine Bitcoin—it is both its own token and its own underlying asset.
In a recent interview, @TimDraper said he prefers Bitcoin over gold because gold doesn't work as a medium of exchange because you can't shave some gold off your bar and order a cappuccino. Somehow Draper, a knowledgeable crypto investor, doesn't realize you can tokenize gold.