Gold bugs flinch as Grayscale campaign promotes bitcoin
Cryptocurrency investment firm Grayscale is taking the bitcoin versus gold fight to TV, launching a multi-million dollar campaign that promotes bitcoin as a new and improved form of gold.
UK’s Royal Mint to sell digital gold
The UK’s Royal Mint (TRM) and CME Group recently announced that AlphaPoint and BitGo are helping develop a trading platform for a new blockchain based product, Royal Mint Gold.
UK’s Royal Mint and CME Group launching gold-backed blockchain assets
The issuer of the UK’s coinage, and the world's leading export mint, The Royal Mint, has partnered with American futures company, and one of the largest options and futures exchanges, CME Group. The two companies are building and launching Royal Mint Gold (RMG), a blockchain-based digital asset backed by gold. Set to launch in 2017, “RMG will change the way traders and investors trade, execute and settle gold,” The Royal Mint announced on Tuesday. The mint is now inviting other market players to participate in this project by building connecting platforms to trade their assets.
Brexit shows how bitcoin shines as a safe-haven asset
Yesterday's historic vote by Britain to exit the European Union (EU), known as the Brexit, carried with nearly 52 percent of Britain's support, and most every one of the world’s financial markets have reacted to the threat of Britain leaving the EU with turmoil.
Bitcoin rivals
While Bitcoin might not compete against Gold or USD, it can still catch the attention of some [gold bugs](http://www.wsj.com/articles/bitcoin-catches-on-with-gold-bugs-1463959897), [internet sellers](https://www.reddit.com/r/Bitcoin/comments/3dsyj6/the_backpage_effect), or [the unbankables](http://tpbit.blogspot.ca/2014/10/for-unbankables.html). Bitcoin might be too small to compete in the primary markets of companies like PayPal or Western Union, but it seems to be catching up in the more fringe markets.
A Bitcoin Standard: Lessons from the Gold Standard
This paper imagines a world in which countries are on the Bitcoin standard, a monetary system in which all media of exchange are Bitcoin or are backed by it. The paper explores the similarities and differences between the Bitcoin standard and the gold standard and describes the media of exchange that would exist under the Bitcoin standard. Because the Bitcoin standard would closely resemble the gold standard, the paper explores the lessons about how it would perform by examining the classical gold standard period, specifically 1880â1913. The paper argues that because there would be virtually no arbitrage costs for international transactions, countries could not follow independent interest rate policies under the Bitcoin standard. However, central banks would still have some limited ability to act as lenders of last resort. Based on the experience during the classical gold standard period, the paper conjectures that there would be mild deflation and constant exchange rates under the Bitcoin standard. The paper also conjectures how long the Bitcoin standard might last if it were to come into existence.
Blockchain companies tackling the gold market
Perhaps no other commodity in the world has the universal appeal of gold. For centuries, the precious metal has has been coveted for its unique blend of rarity, beauty, and near indestructibility.
Midas Rezerv, issues ‘gold-backed token’
Midas Rezerv is a platform in which the token MRCoin will be 100% physical gold-backed. The aim of Midas Rezerv is to enhance trade, investment, capital preservation and payment in physical gold.
