Apologies if this type of discussion is beneath the MT board here. I never post here but as I age, I have begun to show interest.

As I am against the push for a cashless society, as I'm sure is the prevailing sentiment here, I am always interested in ventures that go against that.

I saw an app ad randomly this weekend called Glint. It's basically a mastercard backed debit/credit card. You literally buy gold to put in your account, even in increments as low as $0.01. So you buy gold, your gold can be spent just like any card.

If y'all would weigh in and talk about this as a philosophy and how this would affect the world if it grew, that would rock. I'll hang up and listen.

LINK /

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Posted by Hermit Crab

Under the Sea

Member since Nov 2008

7177 posts

Posted on 11/21/22 at 4:04 pm to m2pro

So you get the card, deposit USD in order to buy gold, then when you want to use the card you convert the gold back to USD in order to spend it. Costing you .5% in fees each time you go back and forth? so you are losing 1% on everything you buy through the card (ignoring any changes in price of gold)?

This post was edited on 11/21/22 at 4:05 pm

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Posted by FredsGotSlacks

Baton Rouge

Member since Mar 2008

815 posts

Posted on 11/22/22 at 10:44 pm to m2pro

I have been using kinesis for quite a while. You can transact on a debit card that is soon to be re-released with a new vendor in silver(KAG) or gold (KAU) and all of the gold/silver you own is physically backed 1:1 and can actually be redeemed for physical. I believe there are some other competitors, the main one I’ve heard about is LODE.

Asset backed cryptocurrencies
have a ton of potential, it will be interesting to see who catches on first

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