It's been almost a year since my last post and a lot has happened.  The success of cryptocurrencies has made central banks jealous and they are more and more wanting to issue cryptocurrencies of their own.  Smart money will stay away from central bank cryptos.  They will just create more and more or create an initial of 100 billion trillion gazillion and then release the coins on an as needed basis in order to manipulate the value.  Nothing will be gained.  Stick to the currencies (coins and tokens are both cryptocurrencies but indicate a different sourcing) that are not controlled by central banks.  They have proven they can't be trusted. 

There is a special currency I want to mention ( DGX version 2.0 ) that is controlled by the DGD people.  There were only 2 million DGD tokens issued and there won't be any more but owners of DGD will be paid a portion of the transfer fees generated by people using DGX to send gold-backed value all around the world.  DigixDAO is the company name (click here to go to the website) and I refer to DGD as the million dollar coin because, when the world discovers what it can do with a truly gold-back coin, the demand and usage will skyrocket and DGD will become very valuable.  I've added  market quotes for both at the bottom of the page so you can reference them together.

There are other coins claiming to be gold backed but so far the ones I've checked out state that the backing is physical gold and ETF gold.  ETF gold is paper gold and immediately disqualifies the coin because paper gold will disappear as fast as fiat currency in the coming crises (plural).  I've read DigixDAO's white paper and examined not only the audit plan but the audit reports as they appear and it's as solid as anything I've seen as a financial professional for over 40 years.  Could it all be a lie?  Of course, but the likelihood of it is extremely low, especially because the management has shown a high degree of integrity in dealing with DGX 1.0 (which had to be recalled and everyone was refunded their money).  Then there's the issue with the government of Singapore where DGD is based taking a dim view of financial fraud committed from Singapore as a base of operations.  I hear that prison in Singapore is rather undesirable so expect that little extra should help assure the reader that there's is little likelihood of financial chicanery. That's for starters.  That's it for now.