Someone just asked if the Bullion Coin Exchange (BCX) will have access to enough Gold to back all the Bullion Coins that could be purchased into existence. It’s a great question:-
The short answer is No
The long answer is maybe. When demand exceeds supply price rises, so we might not run out, but the gold will certainly be worth more.
Digital Gold Ltd. intend for their BCX to become THE exchange for the buying and selling of gold and creation of BullionCoins. The exchange will be an honest and transparent destination for Miners & Gold Producers to offer their Gold Bullion. For them it will be a refreshing alternative to the opaque and dysfunctional Comex Futures and London Bullion Market Association markets, where paper claims to gold and not the gold itself are traded daily.
The 2018 forecast* is for 3,240 tons of Gold to be mined. At $40M ($40,000, 000) per ton that will be $129.6B
($129,600, 000,000) That should be enough to go round. Though the bigger our teams and the more we use Gold to pay for the things we have to buy anyway, I’m not so sure. But if that happens the price goes higher and we all earn more anyway.
Adrian Hibbert
Bitcoin Millionaire
44 7966 871854
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