Goldcorp deposits 3,000 ounces of gold in blockchain 'milestone'

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cosmetal

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All.

http://www.mining.com/web/goldcorp-deposits-3000-ounces-gold-blockchain-milestone/?utm_source=digest-en-mining-180329&utm_medium=email&utm_campaign=digest

Perhaps the GRF's blockchain specialists can provide some input on how they see blockchain technology impacting the arena of small PM refiners.

Will our refined gold become less desirable, or "pure", because it is "wild" and not part of an established gold blockchain?

Is this a point to ponder for the future?

Hmmmmmmmmmmm . . . . ?

James
 
I'm still new to the whole "blockchain" thing nowadays but...

Couldn't someone that refines, just get a jewelry making license, make their own items, timestamp it and sell it that way? You could always sell it to a pawn shop, or to someone down the street.

If it really came down to it, you could keep records of all of the gold bearing scrap that you used to refine to make the jewelry with, like what parts of which computer it came from.


Being concerned about what's in your food is one thing... That meat came from a cow that was fed non-GMO, Poa trivialis and Tall fescue, grown in the fields of wherever with no artificial ingredients, no antibiotics etc, etc.

But on the other hand... That gold chain, where'd it come from? I don't care, it's gold. :lol: :G
 
Personally i think anything that doesn't follow the golden rule is a scam.
The golden rule being " If you don't hold it, you don't own it"!
This is just another paper scam.
 
Palladium said:
Personally i think anything that doesn't follow the golden rule is a scam.
The golden rule being " If you don't hold it, you don't own it"!
This is just another paper scam.

My thoughts as well.
 
Palladium said:
If you don't hold it, you don't own it"!

I agree with you on this also. It's getting harder to find new mines, so the price will start going way up eventually.

Better to have the actual metal than a piece of paper. Someday people will come asking for the metal, but the banks won't be able to give it to them, since they don't actually have that much on hand.
 
The problem isn't the paper gold, it's the counterfeit goods. If you want to invest in gold, you can do it on paper or in rounds. The problem is idiots.

You get a screaming deal on a round. You don't check its density....then you sell it and find out its got a tungsten core.

The counterfeits have been around forever, driven by greed...and most of the transactions involving them are also driven by greed.


Sent from my iPhone using Tapatalk
 
snoman701 said:
The problem isn't the paper gold, it's the counterfeit goods. If you want to invest in gold, you can do it on paper or in rounds. The problem is idiots.

You get a screaming deal on a round. You don't check its density....then you sell it and find out its got a tungsten core.

The counterfeits have been around forever, driven by greed...and most of the transactions involving them are also driven by greed.


Sent from my iPhone using Tapatalk

Snow,

Do you have a picture or web link showing the rounds you are referring to?

Is "round" another name for gold coins?

Thanks,
James
 
cosmetal said:
snoman701 said:
The problem isn't the paper gold, it's the counterfeit goods. If you want to invest in gold, you can do it on paper or in rounds. The problem is idiots.

You get a screaming deal on a round. You don't check its density....then you sell it and find out its got a tungsten core.

The counterfeits have been around forever, driven by greed...and most of the transactions involving them are also driven by greed.


Sent from my iPhone using Tapatalk

Snow,

Do you have a picture or web link showing the rounds you are referring to?

Is "round" another name for gold coins?

Thanks,
James

You mean with a tungsten core? Yeah, I'll post a pic later. It already went through the melt though. I've got a pile of nasty counterfeit stuff post melt. The melt shop owner I was working for, since retired, would take in the lots from pawn shops and toss the fake slugs in various junk piles. I'll refine them at some point.


Sent from my iPhone using Tapatalk
 
There are plenty out there. I remember back about 2010 you could openly buy fakes from China (silver and gold) and a lotttt were sold on Ebay. You could have them special ordered with varying plating thicknesses.
 
This is only new fashionable stuff. Every company which used "blockchain" narrative got some boost in their share price.
In this example blockchain is used simply as an accounting tool to keep track of stuff.
Question is rather "is those 3000 ounces really there somewhere?"
It is just another form of paper gold which supposedly sit in some safe-warehouse somewhere and you can think you are a proud owner of some piece of it. No difference whatsoever just that they do use blockchain as a book-keeping tool.
 
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