Bitcoin is now backed by gold, silver, platinum, USD, JPY, EUR, GBP, and CHF

I am officially announcing that I am personally backing bitcoin by a basket of all the assets above.

If you are willing to redeem your bitcoins, write to me and you can redeem it for 1 oz of each precious metal in the title plus 1,000 units of each of the fiat currencies mentioned. I will ship it to anywhere in the world you would like me to, at no extra cost.

The offer is valid for any bitcoin amount, and the assets will be sent upon transaction confirmation. The fiat currencies must be sent electronically however as some countries restrict parcels with cash inside, so you must provide a bank account information. You can also accept the fiat currencies value in any of the precious metals to avoid any bank transfer issue. Gold is my favorite, but not a problem if you prefer silver or platinum.

Similarly to when we lived in a gold standard, this redeeming window can be closed under extremely unusual circumstances. No one questioned the trueness of the gold standard back then for that, so no one should question my basket-of-assets standard for that now.

I hope this now ends the often repeated arguments that bitcoin is backed by “nothing” or “thin air” ([]( or “cannot be redeemed” ([]( It just isn’t true anymore, you just read it.

For those willing to join me or even outbid me in the backing offer, competition is welcome.

Good luck.

View Reddit by cidadefalcaoView Source

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  1. Bitcoin really needs heavy backing. That’s why I’m backing it with lead. Lead is currently valued at ~2400$ pr. metric ton. So send 1 BTC, and I’ll send you ~ 26 metric ton of lead.

  2. So I send you Bitcoin and when the network has confirmed it, that is you get the coin/s, THEN you send me the assets that you promise?

    I know the intent of your post, and it is all well and good, but the protocol that you propose is a terrible one. I can send you one billion USD AFTER you transfer me just 1btc. Care to take up my offer?

What do you think?

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