Are gold "backed" cryptos worthless ?

That is where the likes of Bitcoin falls down, it's marketing department is non-existent.:(
It doesn't have a centralised marketing department. But the bitcoin community seem to spend an inordinate amount of effort trumpeting its merits (users of fiat just get on with it). They do so in quite a misleading way focusing on the supposedly wondrous technology of blockchain. Blockchain has nothing to do with the worth of bitcoin in the same way as the commercial vehicles which distribute goods have minimal relevance for the value of those items. Google bitcoin and you will be bombarded with enticing images of gold coins with a B type dollar sign. That sort of marketing, if it was centralised, would rightly be found in breach of advertising codes.
 
It doesn't have a centralised marketing department. But the bitcoin community seem to spend an inordinate amount of effort trumpeting its merits (users of fiat just get on with it).
The absolute irony! :p I don't accept that to be true in any way, shape or form. However, here on AAM I would say that an inordinate amount of time is spent by the Duke in smearing Bitcoin at every opportunity....oftentimes misinterpretation, misrepresentation and downright inaccurate supporting information. An inordinate amount of time is spent in clearing up those inaccuracies just in case some poor soul comes along here and takes what you write as fact. You're doing it right here once again - this thread is supposed to be about Gold backed cryptos - not about bitcoin.
As regards 'users of FIAT just get on with it', for real? FIAT has been around for donkeys years. It's nothing new, people understand how it works. Like it or loathe it, Bitcoin is a new Fintech development - an innovation that is still fluid in terms of it's development. Therefore, there is reason to discuss it as it's changing - everything about it is changing and evolving. Whether it succeeds or crashes and burns, there are a lot of new developments with it - on a daily basis.

They do so in quite a misleading way focusing on the supposedly wondrous technology of blockchain.
See above. It's a bit rich you going on about crypto enthusiasts being 'misleading'!
Blockchain has nothing to do with the worth of bitcoin in the same way as the commercial vehicles which distribute goods have minimal relevance for the value of those items.
You're falling in with your banking world buddies as this is currently their strategy i.e. the line that Bitcoin (and decentralised crypto's) are bad and blockchain is good. You can try and separate them all you like but it doesn't wash.
Google bitcoin and you will be bombarded with enticing images of gold coins with a B type dollar sign.
I have to commend you on your trolling skills :)
I just googled 'bitcoin'. As is standard with a google search, they return an image or two at the top. If it has to return an image, what else is it going to be other than that contrived 'coin' or BTC symbol? As regards articles on the subject, articles rarely come without some sort of artwork or stock photography. What would you have them use exactly? The result that was returned with the 'bitcoin coin' image links to an article from the UK independent. I scan through crypto reports on a daily basis. I've yet to see a positive report related to crypto in the UK independent. Is this the propaganda and 'marketing' you're talking about?

That sort of marketing, if it was centralised, would rightly be found in breach of advertising codes.
Interesting. Why don't you contact the UK's Independent Press Standards Organisation and complain about the Independent? Otherwise, you might be interested to note that the Central Bank of Poland paid an entity that ran a youtube channel to make a video castigating bitcoin. Aside from using public money to do this, there was NO indication on that propaganda that it was sponsored by the Anti Cryptocurrency Central Bank. Is this the type of propaganda and 'marketing' you are referring to?

Everything is not all sparkling in the Crypto world. There are many things that are far from ideal. Naturally, this is reported and discussed. However, there is no doubt that there is an inordinate amount of Fear, Uncertainty & Doubt (FUD) being spread which is unfounded ...by people and entities with a vested interest to talk crypto down.
 
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the bitcoin community seem to spend an inordinate amount of effort trumpeting its merits

As do the ABC in warning of its deficiencies.

users of fiat just get on with it).

I think you will find that those who buy bitcoin also use fiat. You like to construe an image of two distinct and seperate 'communities', nothing could be further from the truth.

Blockchain has nothing to do with the worth of bitcoin in the same way as the commercial vehicles which distribute goods have minimal relevance for the value of those items.

Commercial vehicles that distribute goods are critical to the value of those goods. If you cannot understand why, you should find out.

Google bitcoin and you will be bombarded with enticing images of gold coins with a B type dollar sign. That sort of marketing, if it was centralised, would rightly be found in breach of advertising codes.

We are in the arena of farce now. Shiny images of gold coins with B type dollar signs should be banned now? Exactly what are they advertising, what are they promising the poor easily entinced punter?

Im going to hazard a guess here and assume that most people, practically everyone in fact, who bought some bitcoin did at least a minimum amount of research to know that you dont actually get a coin.
Im going to hazard another guess that those who did initially think they would get a coin, found out well in advance of parting with their money that that would not be the case.

And finally, for those people who dont fit into the above categories and who did think they would get a coin after purchase, well, they probably thought when you bought a Cadburys Flake that young attractive women would follow them into the meadow for fun and frolics. Not much we can do about them, nor banning shiny images.
 
I think you will find that those who buy bitcoin also use fiat.
Absolutely and they just get on with using fiat but they become evangelists for bitcoin.
Commercial vehicles that distribute goods are critical to the value of those goods. If you cannot understand why, you should find out.
The point I am making is to distinguish between the commodity and its distribution. When BC folk enthuse about bitcoin they invariably talk about things to do with the distributed ledger. The ledger just records items. It is the items themselves that are of value. With bitcoin the item is merely the entry on the ledger.
We are in the arena of farce now. Shiny images of gold coins with B type dollar signs should be banned now? Exactly what are they advertising, what are they promising the poor easily entinced punter?
The whole imagery is delusional. Digital gold, miners, givuz a break. Though I admit it is mainly a self delusion. It is the BC folk convincing themselves.
 
Absolutely and they just get on with using fiat but they become evangelists for bitcoin.

There you go again, over-egging the whole issue. You have been told countless times by posters who have bought bitcoin that they are;

- open to possibility that it could return to zero
- that they see the potential in it for use as a currency outside the centralised monetary system
- that it is not the finished product by any means
- that its price surge in 2017 reflected the traits of a bubble
- that anybody would be crazy to invest more than they could afford to lose
- that part of the appeal of bitcoin is the whole concept of a decentralised currency.

What you havent been told is;

- that bitcoin will take over the world and that you should put your life savings and re-mortgage your home for bitcoin.

You just think you have been told this, but you havent.

The delusional is all yours.
 
Absolutely and they just get on with using fiat but they become evangelists for bitcoin.
Is there something new about FIAT that I need to know about? When the tech settles, I doubt there will be much kerfuffle about crypto either. However, we're a long ways away from that just yet.

With bitcoin the item is merely the entry on the ledger.
The very same for the electronic entry displaying the balance on your euro account ...it's just an entry...nothing more.

The whole imagery is delusional.
What's that got to do with crypto enthusiasts? Go talk to the media. It's a symbol - big wuff...get over it.
Digital gold, miners, givuz a break
Ahem, you're 'contributing' (??!) to a thread that's all about digital gold i.e. gold backed cryptos so what's with the 'give us a break'? What about miners? The one time you did stay on topic on this thread, you discussed miners.

The whole imagery is delusional.
Big Short has it right. The only one whose delusional in this discussion is his Dukeness.
 
It must nearly feel like you are arguing with the same person ;)
Big Short has it right.

Oh No! I've been rumbled by The Fly once again! - not!

For about the 3rd time (if not more), you are speculating that I am using another username. This is getting comical, if it wasn't that it is so weird that you have this fixation.

The Duke must be chuffed, you have his back covered :D:D taking topics down rabbit holes.
 
Hi Pexus1976,

Which ones are you holding ?

I've a little XAU which I acquired quite recently, might go for one or two others though.
 
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