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730 sats \ 3 replies \ @TheBTCManual OP 11 Oct 2023 \ on: Zimbabwe Gold Backed Shitcoin Is Live bitcoin
Looks like Zimbabwe accepts their Zim Dollar going tits up for a second time and wants to avoid people running to USD and Bitcoin are looking to pull the wool over the locals eyes with one last rug pull, the ZIG, a digital token that is backed by Mosi-oa-Tunya – 1oz Gold Proof coin worth roughly $3153,60 right now
How they enforce the backing? don't know
How do they audit the supply? don't know
How much gold supply is there in the country? don't know
How do they avoid double spend between physical and digital? don't know
How many gold bugs are holding up zim as something bullish for gold, plenty, lol,
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Lol I am cheering from the side lines, can't wait to see how this one blows up in spectacular fashion
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