I was studying more news about crypto when I began thinking of a conversation I had with High On Coins, on his YouTube live show. I asked him about gold-backed cryptos. I was talking about Karatbank Coin's value because I like their Idea. In thinking about the simplified part of his response which was, "I don't know, man? Bitcoin is already digital gold." I contemplated on this taught for a day when it hit me! I was like, "Ohhh ok, I get it. This is about changing the way we think of value."
Let's answer the question of, what do we think is valuable? You say money, gold, oil, and etc. But, what will your grandchildren's children say is the value? Take the thinking of value off of paper, shiny rocks & metals and place them on things like bitcoin and tech. Will it solve our problems as a people? Maybe, yet understanding that the way we think of value today with paper, credit, and promises bitcoin could change the world with the 1st worldwide currency. It's not so much about a few being rich, but it's more about the masses not being poor anymore. Maybe we won't have a problem with a few of us being rich if on the flip side no one is really poor. This is the best time in our history to try to accomplish this mission of empowering all humans that want to work for a living.
With this in mind, it seems that the people that really care about the crypto space care more about cryptos that are blockchains, tech, coding and currency adoption. They seem to care less about any asset-backed cryptocurrency like gold, oil, or land. I think the gold-backed cryptos like kbc can be another way to solve the world's economic problems offering a better solution and a replacement for the physical currency products we have today. But it remains to be seen if bitcoin is going to be digital gold and replace gold's value. It may possibly wipe out gold's value. Or, can they co-exist and work together giving you a digital asset that is backed by real gold?
I wrote more about Karatbank, so read more and watch the videos about a company that I'm an affiliate of to see if you want to invest in gold.
If you want to buy bitcoin or other cryptocurrencies then here are some good ones:
Once you get your valuable crypto it is recommended that you store it offline on what is called a hard wallet like this one:
The safest way to keep your crypto once you get it is offline, so to store your crypto safely offline you can use: