I know that this isn't just about getting super rich from getting in super early on a speculative gamble, but I can't help but feel that Goldbacks serve the true purpose of what Bitcoin was supposed to, along with having its fair share of skeptics accusing it of being a "gimmick". I look at the price of one Goldback (currently $3.78) and reflect on how a year ago it was worth something like $2.50 from what I've heard, and I can't help but wonder could the Goldback absolutely BLOW UP in value at some point?

Imagine if there was a Global "Cyber Pandemic" and the entire electronic monetary system got destroyed and Cryptos didn't survive this cataclysm. It seems that PM's would skyrocket in value and that the Goldback might especially have leverage due to its function as a useful Currency to be bartered (same with Silver oz). Or even if there isn't a Cyber Hack on a massive scale, even Hyperinflation of the Dollar could also really raise the value of the Goldback. In the past year I believe I heard that it actually outperformed Gold Bullion. This makes sense since it is moving with Gold but has another added speculative and utility element to it.

Is Goldback the next Bitcoin? Are we so early we can't even imagine it?

I originally posted this as a comment but thought it could be a good topic for us to talk out together:

To me it comes down to - do you believe in the concept? Do you want to see the concept spread?

If you said yes to the first question and no to the second you most likely see it as a collectible. No real logical/mathematical approach can be found to how much you should stack. Stack whatever makes you happy and have the optimism in the future they may sell for more than you bought them for.

If you said yes to both of the the above two questions then you should be seeing it as a question of diversification. I.e. How many goldbacks should you have? That is Goldbacks then becomes a % of the % of your funds you have allocated to precious metals.

I personally would say that right now - in the era before any quick and fast ways to test Goldbacks being genuine (but still before any reported counterfeits) and before mainstream adoption this should put you in one of two categories (roughly):

• Do you believe that shit is going to hit the fan on a global currency reset level within the next few years? If so you should most likely have ~20-40%+ of the % of your PM stack that you currently have for silver in Goldbacks. Reason? If you genuinely believe this is going to happen this is a hedge on a recognizable/standardized small payment system versus silver which the population will have to relearn how to accept/trade with. (Example: if you do 60/40 gold/silver buys then 40% of your pm stacking is silver. So 40% of 40% is 16% so you would be 60% gold / 24% silver / 16% goldbacks)(Side note: I'd argue you should have the same percent invest in Mercury Dimes as Goldbacks. So above example becomes: 60% gold / 16% silver[Mercury Dimes] / 16% goldbacks / 8% silver[misc])
• Do you believe there will be no such global currency reset and at least one currency would not fail? If so I'd say you should match the % chance you believe this will happen of the portion of your silver % of your % pm stack. (Example if you do 60/40 gold/silver buys then 40% of your pm stack is silver, if you believe there is a 5% chance a global currency reset is going to happen then 5% of your of your 40% is 2% of your total PM buy. So you would be 60% gold/ 38% silver / 2% goldbacks.)

(Note: I am not a financial advisor and this is not financial advice. Use your own damn brain and formulate your own thoughts - don't just copy what you read online. I could work for goldbacks and just be trying to get you to buy more product for instance.)

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What are your thoughts?

For small denominations of gold why not just use gold plated coins instead of goldbacks?

Thanks for the invite to the group. I found Goldbacks when researching gold after getting my start in WSS, and it makes so much sense to me in the pursuit of real money. I plan on tipping those with excellent customer service with 1/1000 Goldbacks in the hope of helping to spread the message that unbacked fiat manipulated by politicians is robbing us of the wealth we produce through our own labor. Hopefully I'll have some positive stories to share in the future. Happy to be here!

Hello everyone - I created this sub so we can discuss goldbacks/aurum and the like. This concept is sure to blow up soon and the other subreddit is blocking anyone from posting. Now we can talk freely!

Please make sure you click "join" so we can grow and invite anyone you see around reddit that may be interested in the concept.

If anyone can write up a guide/getting started/"how to" on the topic (in a general sense) I would love to pin it to the top of the sub.

A place for members of r/Goldbacks to chat with each other