Gold (XAU), Silver(XAG) and Platinum(XPT) are now issued on the distributed ripple exchange by ripplesingapore.com. 100% physically backed (and physically redeemable) and with no storage costs bullion can now be stacked as well as send to anyone, anywhere, anytime in 5 seconds. To find out more about XAU, XAG and XPT becoming crypto currencies check out this article: http://www.coindesk.com/bullion-exchange-brings-ripple-physical-world/
Want to start here http://forums.silverstackers.com/forum-22-welcome-new-members.html And than read the rules - NO links for the first few weeks Looks like spam to me & I'm not going anywhere near the link
Just sharing some exciting innovation. If you don't care about bullion with bitcoin beating properties that is your call.
Hi Silver stackers. Full support of silver stacking. Extremely sensible. Should be the first step for any investor. May I suggest what we would all like for that silver to be used as money - like it has been for thousands of years? Indeed, many people are unaware that the word for 'Money' and 'Silver' are the same for most of Latin America and South East Asia. If silver was used as money again it would have awesome purchasing power. There are less than 1 billion ounces of above ground investment grade stock. Thats less than 1 ounce per person. If silver was used as money again, most of you would be living millionaire lifestyles. Nice. So here is the good news. On Ripple, Silver is being used as money, just as efficiently as any fiat or crypto. Anyone, anywhere, anytime in 5 seconds. Hopefully, the fact that your your dream has become reality should brighten your day.
So they have taken the most basic features of a crypto currency and combined it with physical bullion you don't own? What is the point of this? So you own nothing but a bad crypto in the end?
What is interesting is the low cost bullion holding/sending/trading you can do on top of ripple, not ripple itself. With XAU in my ripple wallet I can pay a bill in bitcoins. How is that not cool?
It's called context. What you present is an article about an investment vehicle that is supposedly backed by a physical item (specifically x amount of Gold/Silver/Platinum per digital symbol that come with a whole host of issues explained elsewhere on similar ventures). The difference here is that Bitcoin/Litecoin/Altcoin's are all digital currencies/commodities (depending on investment type per holder of such items); which is simply Apples to Oranges in comparison to this product (although further arugments are that you can hold a Bitcoin by parking 1 BTC on wallet.dat stored on a USB stick if you really want to 'hold' it). My original reply still stands; "if you don't hold it (explanation: 'it' here is the Silver/Gold/Platinum behind these symbols), you don't own it." Disclaimer: I 'hold' a various amount of both Bitcoin/Litecoin (and some Altcoin 'dust') and physical Bullion. edit 2: Very nice pic Eureka
The XAU in your ripple wallet are the equivalent of your private wallet key on your bitcoin.dat file. Once you send your X number of XAU back to the gateway you can physically collect your X ounces of gold. Note that bitcoins are in the blockchain and your private key entitles you to them. The bitcoins are not on your .dat file, just the key to them. So although somewhat different the concepts of entitlement to XAU on ripple and Crypto currencies are not all that different. Also note that XAU tracks the physical price and not the paper gold spot.
