Gold hoarders and bitcoiners have a lot in common, though they might not like to admit it.
Both are useful ways to store value, both have a strictly limited supply, and both are popular with those who harbor concern about the fiat currency system. But it seems like the two worlds may collide sooner than we think.
Independence Coin
Anthem Vault Inc, a leading tech innovator in commodity markets, was at FreedomFest, a libertarian-minded festival in Las Vegas. And it was there that they unveiled their creation: Independence Coin.
Appropriately launched on the 4th of July, Independence Coin is designed to be backed by a 100-gram cache of gold held by Anthem Vault. 10 million Independence Coins will be mined between now and next July. That means each Independence Coin will be worth 0.001 mg of gold.
According to Athem Vault CEO Anthem Hayek Blanchard:
This coin stands for currency independence and demonstrates the use of cryptocurrencies as micro-gold weighted instruments in commerce
But It’s Not Backed By Anything!!!
This is one of the common arguments made against Bitcoin. The fact that fiat currency is also backed by nothing notwithstanding, this concept could ease the nervousness some have with investing in cryptocurrency.
To discover more about Independence Coin and Anthem Vault, visit their website.
Can gold and cryptocurrency exist in the same ecosystem together? Can gold hoarders and bitcoiners put aside their differences and get along? Leave us a comment below!
The First Cryptocurrency Backed By Gold Is Here
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