/biz/ - Business & Finance

>>53890057
Religious and ethnic bonds, I reckon.

>>53890057
>is there any reason why we havent done this yet?

Most people around here don't want to get shot in the face.

>>53890108
? i already said we security would be included. i dont think robbers would be a problem we could have many guards with rifles guarding the storage facility and it could be somewhere easily defended.

>>53890128
Anon, we aren't afraid of niggers. It would be a different situation.

>>53890057
literally nothing is stopping you. it's not even that exciting of an idea. the question would be how you would guarantee the trustlessness of your gold and silver vaults so users know they can't be defrauded by you or be robbed if the vault is emptied. you also may find that the masses do not share your enthusiasm for silver and gold, so perhaps temper your expectations

>>53890149
>you also may find that the masses do not share your enthusiasm for silver and gold

well the main point here would be the digital currency. its not a speculative asset like the little dogshitcoins the kids here like to shill. it would be meant to be used as money. the purpose of the silver and gold would be to guarantee the trustlessness of the cryptocurrency. like a stablecoin. and it would have all the benefits of a currency like monero which means it could replace fiat and be transacted privately

>>53890128
What if robbers have fighter jets and artillery?

>>53890057
>whats stopping us from making a modern version of an organization like the knights templar
I was literally just thinking this yesterday only from the religious perspective rather than the financial. Still kind of an odd coincidence though.

>>53890057
>is there any reason why we havent done this yet?
Alright, you got me thinking on this now. Questions:
>we could crowdsource precious metals almost like a credit union
How do we establish initial confidence to get those first depositors?
>so people can redeem for physical across borders
How do we ensure that this organization cannot lend beyond its reserve capacity?
>storage and security
How would it be physically secured so it can't be stolen?
>only lending to people with collateral
How would we collect on that collateral when a borrower defaults?

The auditing is always where the pm backed currency falls short. It will never be redeemable 1:1 for whatever it is in exchange for the pm.

>>53890057
You could even call the crypto "Templar".

>>53890057
maybe it could work but you quite literally just described any other bank, except this one would use something like PAXG. maybe charter a bank and then come here to ask us for funding.

but that said, what differentiates you from all the other banks out there?

>>53891005
Or I guess "TemplarCoin"

>>53890057
>>53890817
It is not a coincidence.
I was also thinking about this just yesterday. For OP financials, for you religious perspective, for me it had to do with everything. Hardest part is to find willing people to actually go on and create it rather than just mumbling about it few times and rescind back to our ruts to stay in despair.
>>53890930
And the second biggest challenge or limitation is that we are too poor to fulfill any of your concerns and solutions will require huge amount of money that neither you nor I could acquire.

>>53891004
you guys didn't hear what I said. Its not possible for people to not to get tempted and run a fractional reserve currency which defeats the purpose...

>>53891041
>find willing people to actually go on and create it
>will require huge amount of money
It doesn't need to start off as ambitious as OP wants. It could start as more of an experimental local thing and gradually expand as the kinks get ironed out.

>>53890128
Oh you innocent one.
In a fantastic timeline where we actually build one, and should we grow sufficiently big enough, even if we are still fairly minor, there is a good chance it will be intentionally ruined via clever means well beyond our puny financially, politically and conspiratorially illiterate brains. Should we somehow survive, bullets and electrical cords tied around your neck are the result because you were apparently lonely and sad.

>>53890057
It would just be garbage. A free bank will just develope a free fractional reserve system, which means banks would be able to print money as debt but this time daddy usa wont be there to save your ass once a bank run panic starts.

Who is "we"? Infinite Banking, Nelson Nash cracked the code 50 years ago.

>>53891116
Start with 4chan and other fringe population then expand to goldbergs.

>>53890057
op, you are absolutely based

>>53890057
you will probably be injected with dexadrine or some meth and a drill will be put, slowly at first, through your skull by the powers that be for creating something that they can't control. Please stay safe and do it but you have to know this is something they will absoluely kill for.

Glowies WILL kill you

>>53891116
that was my first thought as well. you dont have to start off as a multitrillion international banking org, we can start one outlet in a local community and learn how to make things work.

>>53891061
no. regularly scheduled public independent auditing could be hardcoded into the system
>>53891041
>It is not a coincidence.
i think many of us are tired of living under the yoke of this corrupt financial system so it makes sense we think about ways to circumvent it

>>53891007
>but that said, what differentiates you from all the other banks out there?
because we would issue our own currency and facilitate its payments internationally without restrictions

>>53891004
why do you say this? how did the templar grow so powerful?

>>53890930
>How do we establish initial confidence to get those first depositors?
well we can brainstorm how to make this idea work. i thought of it like a credit union thinking that would allow it to gain widespread adoption and also amass a lot of wealth quickly. but if you were already a really wealthy organization or person you could probably start your own currency on your own once you had a good amount of precious metal. establishing that initial confidence would be a big challenge like you point out, but i think you could do it with enough transparency and maybe some modern flair. 24 hour webcam feed link of inside the vaultroom accessible to the public, the public audits.

>>53890930
>How do we ensure that this organization cannot lend beyond its reserve capacity?
well if we wanted it to act as a true bank and engage in lending for interest profits then we could lend the same way banks did before the illegal federal reserve and fiat existed. banks in america used to require collateral for loans back when the US dollar was gold backed. if a farmer wanted a loan for a new tractor, the value equivalent of his farmland was put up as collateral so the bank could take his farm if he defaulted on the tractor. thats how banking is supposed to work.

>>53890930
>How would it be physically secured so it can't be stolen?
this would be the biggest upfront cost to set up. building a secure vault is not something particularly challenging, there is no need to reinvent the wheel. but it is expensive. perhaps a commercial building or space previously occupied by a bank already could be bought in the upcoming depression if any banks go out of business.

>>53890930
>How would we collect on that collateral when a borrower defaults?
the same way anyone else does when a legal contract is employed. there are companies that specialize in repossession all the actual labor can be contracted out.

>>53892264
>how did the templar grow so powerful?
well, the irony in all this is that they were bankers who pooled their wealth and acquired vast dominions

>>53892311
why cant we do that too? it could be the ultimate revolt of populism

>>53892337
ironically, populism isn't very popular

>>53892337
Go ahead and make a system where you tithe 100% of your belongings to the creator of the system and see how quickly that flies.

The templars worked because they murdered everyone in their path they were assassins using "god" as armor.
They were jews you fucking moron the whole jewish banking system is the knights templar.

Always has been always will be every CEO of every exchange besides Binance is JEWISH every bank owner JEWISH
Every Freemason is a GOLEM to JEWS This is old old old old old fucking news.

>>53891041
>will require huge amount of money
You know, you could take a loan ;)
The question is, are we organized enough to build a complex social construct like a currency and make people dependent on it.

>>53890057
You can start by grabbing some Templar nfts, already 2x up from mint price, find them at Entrepot ~

>>53890208
>the purpose of the silver and gold would be to guarantee the trustlessness of the cryptocurrency
The bullion backing is the very thing creating the trust issues in your scheme. The backing relies on the participants trusting the entity or entities holding the metals. And not merely trusting those entities intentions, but also their security against attackers.

A lot has been written about your variety of scheme and various alternatives. You should do some more research and go back to the drawing board, friend.

>>53890057
I think it's a pretty good idea. There are at least a few companies doing this already. Kinesis sounds like it's supposed to be a gold-backed crypto. I used to seen
ads for Glint (IIRC) which sounded like a gold-based credit card. There is at least one more that's trying to lend out gold for interest, basically being a regular bank just with real money, but I don't know the name.

>>53892468
>A pretty good idea
No it's one of the most retarded ideas since fucking niggers in the ass.

>>53892406
can you explain why? what else can you do besides auditing? what about the 24/7 webcam idea where the camera is pointed at the dragon pile?

>>53891007
No, thats only how banks used to work. They don't work like that at all now that they only have debt-based fiat currency.

>>53892525
I'll be really surprised if he can. Most people, even most precious metals investors, who tend to be more suspicious than most, have no problem trusting the audits and security of precious metals ETFs.
The real issue, that several others have alluded to, is that you would have the most powerful criminal organization the world has probably ever seen wanting you dead if you ever got close to being successful. Still, they're not all-powerful. Sooner or later their empire will collapse.

it'll get shut down Waco style

>>53890128
>dude like just build your own private fort knox in some jew jurisdiction

>>53892688
the real templar did it without any problem but they had an army of warrior members. maybe that would be a good strategy to copy?

>>53892701
>d0000d just like make your own PMC/paramilitary organization *hits bong* they guard the gold and will fight against other nations and their PMCs it be like in my Metal Gear Solid vidya gaems

>>53892144
Do you even know banking law? OECD? Anti laundering laws? The patriot act? You would get fucking destroyed by jews like the Templars were by King Philip IV.

>>53890057
money isnt power, power is power. You will face the strength of nations' worth of manpower. There is a value chain here, control of financial transacting comes last. For your control of money you need power, a military to back it.Put it this way: You back you crypto with gold/silver, cool. But why do soldiers fight for you to back the soundness of your money? Because of the goods and services they can afford with the wages you give them. You can have 1 trillion pounds of gold, its worthless if there arent enough goods and services to buy with the gold.

>>53890128
Lol anon, you are cute. Please be a cute girl.

>>53890057
You can buy digital gold from the bank of England.

>>53894387
gold/silver/fiat/crypto is a medium of exchange. Its purchasing power fluctuates over time, relative to the currently available goods and services. Short term, the demand/supply for goods and services can be manipulated. Long term, you cannot. Those goods and services have a definite value. I value the meal I have today the same as 5 years ago or 10 years from now, regardless if gold is 100$/2000$ or 6000$. Your plan only works from the ground up. The only shortcut is through stealing like the pirates/vikings/raiders and warmongers have always done. The Templars didnt become powerful because they were rich, they were rich because they were powerful

>>53894408
Lastly, even if you do gold back your currency, America will just dissolve the EPA protected lands, exploit all the gold its hiding and completely DUMP on your coin

>>53890057
>the benefit would be being able to buy and sell things tax free, privately, without any kikery.
you can do this right now with US dollars

>>53894439
no, you cant.

I don't like having car crashes.

>>53890057
Man you are fucking retarded. I wished you were trolling or tripping balls but based on your replies that's not the case. Can't believe I have to share a board or even a planet with you. You should Get off of both imo

I wish you luck Gaddafi

>>53892390
hello fellow tempiechad