Should have just followed the ways of my ancestors and bought gold instead of pivoting my 401K to AssCoin.

Writer, podcaster, and commentator on foreign affairs and politics. Runs /dropglobalnews

Clanker Broadcasting Service /cbs

Random question trying to gauge others opinion, but do you trust Tether Gold?

Tether as a product that's a tokenized representation of dollars seems fine, but almost no one seems to support or care for Tether Gold.

I strongly suggest you just buy the physical gold instead. Because gold can only really be physical, you don’t own that gold unless you directly control its access.

Web2/Web3 developer and builder of grassroots decentralized culture and governance. Not a maximalist of any kind. Writing this as I go.

Some central authority (or even a distributed pool) would have to maintain the gold backing the tethered gold, and if any of that gold is stolen or embezzled, it lowers confidence and value. Stablecoins work better because they’re tied to currency that’s stored digitally and insured by centralized authorities. I suppose the gold has to be insured too, but it’d have to be replaced whereas fiat is created out of thin air.

I suppose as long as people recognize the natures of the underlying assets, they can manage however they’d like, but I’m personally a bigger fan of buying the underlying asset.

Ok so general question:

Let's say you want to buy gold, but you're also a crypto person. You trust Tether to be wrapped bills, and you regularly use and accept Tether.

Why don't you trust Tether to be wrapped gold? I don't really see why crypto people are against wrapped gold but stablecoins are wrapped short term t-bills.