To verify that your gold is real, the only way to completely do so is to smelt it down and recast it. Sometimes, [gold
bars are “salted” (or filled) with Tungsten]( a metal with a similar weight but far less valuable.
An ounce of gold is worth $1,958, while Tungsten is worth about $3.25/lb. Certified gold sellers like Heraeus, ZeroHedge, Perth Mint AU, and Manhattan’s Diamond District on 47th Street have all discovered certified gold bars filled with Tungsten.
“It’s a shame,” said gold dealers, “This business is built on trust.” And when the FBI looked into some of these incidences, the previous seller had already ‘returned to his home country’.
Fort Knox, and the Bank of England, that both hold large amounts of the worlds gold, have never been audited – and are questioned whether they actually possess gold bars that contain 99.99% gold – or if they’re ‘salted.
“A gold bar purchased in Ottawa that turned out to contain no gold did not come from the Royal Canadian Mint”, the Crown corporation says — Sure, just pass the blame.
You have already guessed what fixes this – ( ₿ ) BITCOIN – you don’t have to trust that it’s real you can verify it’s authenticity – its the first technology that two individuals can settle trades with without the need for a trusted third party to verify them – verified on a public ledger by all nodes in the network!
Don’t trust; verify.
14 thoughts on “There is no Gold Standard, it is a Tungsten Standard”
>Yesterday, a Bitcoin purchased by crypto exchange Coinbase from an unknown miner was found to be salted with DOGE. When reached for comment on how this happened, Coinbase CEO Brian Armstrong covered his face with his hands and screamed, “I HAVE NO FUCKING IDEA!”
You don’t have to melt it down. There’s scanning machines that penetrate the whole piece of metal.
What concerns me are all the holders that have coins on exchanges who think they’re holding bitcoin but are really only holding metaphorical promissory notes by said exchanges. ]
The Bitcoin standard can’t be faked
bitcoin ain’t fungible either
you may not be able to alter it but it one isn’t the same as any other
And obviously same goes for crypto coins… Check, verify, DYOR and prevent a rugpull!
It’s good to trust, but better to verify!
Tis a valid argument.
Don’t trust, verify.
“Don’t trust; Verify”
The ethos is more important than ever
When you buy Bitcoin, it is definitely Bitcoin.
The chance of you buying gold, but it be something else, is very low though
If enough gold bars are adulterated with tungsten, this would make BTC even more likely to become the World’s currency!
No scam’s in crypto🧐. Seriously bad argument.
If you play darts, tungsten is way better than gold.
Isn’t tungsten a lot more useful than gold? The highest melting point for a metal has to be worth something and it sounds a lot less toxic than cheap depleted uranium. If I’m going to make a bullet I rather use tungsten than some worthless yellow rock. Gold is a good electricity conductor and is somewhat resistant to corrosion but that’s it.
Sheeesh. People are the worst.
Everybody’s definitely going to the Bad Place.