Has anyone here looked at using new Decentralized Finance (DeFi) technologies to eliminate the paper markets in silver and gold as base pairs for a trade? In other words, tokenized gold and silver can be exchanged freely using DeFi. DeFi synthetics can then bypass dollar and paper markets. It seems like this would be a much natural free market approach to eliminating "paper manipulation" of the precious metal markets.
Hi You got me on that one. There are all sorts of machinations The Gold Cartel will go to hold their fort. They will all fail due to lack of physical gold/silver supply. All the best Bill Murphy
Well the cartel can't stop decentralized finance and cryptocurrencies since they sit outside of the official sector (watch: https://youtu.be/C_zeEEjf9_Q). I'm putting together a proposal for an open source project to bypass the paper market. I welcome ideas and feedback on the proposal. I'll post it here when it gets a bit better fleshed out.
DeFi surpassed $10B the other day (see: www.defipulse.com). It sure would be nice to ride that wave and get a pure silver-gold trade going that completely bypasses the "dollar/paper" markets. It seems like we may finally be able to take down the cartel by using Internet technology... just like everything else the Internet has done over the past 25 years... it took out brick & mortar retail, taxis, and soon government's monetary monopoly. I'd really like to make sure we can get gold and silver on the same footing as simple digital scarcity like Bitcoin and let it leverage hard assets.
We think that the based stable coins like USDT (Tether) and USDC will ultimately fail due to centralization and perhaps competition from Central Bank Digital Currencies (CBDCs). Feel free to post questions here.
This message was edited by Ottomani on 6-10-21 @ 5:36 PM
Ottomani
09-09-2020 @ 5:39 PM