I still think there is a huge opportunity for a company to tokenize silver on the blockchain. Obvious counter party risk just like the gold offerings but I would like to see Paxos put contracts out there for it and tokenize on chains like Solana. I just don't know if we can fully trust Kinesis and obviously Tether has been suspect for a long time so Tether Gold is a question mark.
https://www.coingecko.com/en/commodities/silver
Silver does look like it could really take off from here.
Since $100 silver, we really look like we are in a falling wedge. And we are close to the tip.
Which way will it break out?
There are… psychics who say they see single digit silver, but it isn't real.
Meaning, the COMEX controllers pushed the number down with paper trades.
And if you see silver at the coin shop, it will be $9 silver, with a $90 premium.
I really want to see the banking system implode. The fact that banks have zero reserve requirement since March of 2020 has really thrown prices into this very strange runaway inflation scenario and pushing down some real assets.
I have a lot of ideas about tying cryptos to trading with precious metals and some companies that are shipping something people want. Nvidia, Apple, Samsung, Toyota.
Like having the liquidity pools that tie it to some of this stuff. That way if it is going up overtime then the crypto isn't getting completely pulled under by the price of Solana, BTC, ETH imploding every 4 years.
These crypto cycles really make it hard for development and teams to make it through the bear markets. They just get crushed.
There is one thing that will tokenize silver. Miners and manufacturers.
Basically, an on-chain COMEX, that does what it is supposed to do, and not what it is not supposed to do.
If they have "betting", it will be as a 2nd layer, or maybe another chain. This chain will be about supply and silver consumers.
There are silver storage places that allow access via Credit Card. It could be tokenized? but, why?
There will be tokenized gold. Probably through several vaults working together.
There is a lot of reasons to tokenize precious metals, but all of them are for trading. Pathways to get in and out fast. Will that actually help anything?
I liked the original vision of Uphold where you can trade in and out of precious metals, commodities, and crypto. I haven't even logged into my account for awhile over there but they kept changing the way it initially was. Having access to the Visa, Mastercard, and AMEX networks for Tap to Pay is something I do think is important and I was seeing Brave was wanting to release a card. Trading in and out of these assets and getting food or whatever real time seems important until things really go post apocalyptic.