People do not care in case of USD and Binance is at the core of it all together with ifinex. So why would they care for egold? There isbhuhe counterparty risk in everything outside of onchain coijs, real gold/silver or cash. If that is not clear by now people will learn it when this whole thing is coming down.

Of course this goes for stablecoins as well. Bitcoin really is a world apart. It's just going to take a lot of rugpulls for most people to learn this lesson.

On #gold #bitcoin and DGCs from 2012. View quoted note →

Who needs this tokenized Gold? You can just buy gold jewelry and gold coins. Gold at >$4k per troy ounce, the amount of value you could easily store in a small space is quite high. Up to $100k in gold is quite feasible. Is the Tokenized gold for the person who wants millions in gold? Those people buy GLD in their Charles Schwab. Even then at a stretch $1m in gold is 7-8kg. You'd need a really good safe though. Then if you want Billions in Gold you are probably a Central Bank and will 100% self custody your bars in your own vaults.

You would be surprised by how little most central banks exercise self-custody!

And for BNB tokens as well... 😑 (I don't like this new Bitcoin spokesman)

China and Russia definitely self-custody their gold holdings.