You know how pumping iron gets you stronger? Well, there's this big new asset called the Quint, and it's basically the gym rat's equivalent of a powder protein shake to Bitshares.
It's gonna be the metaphorical drink that gives Bitshares its Schwarzenegger-like strength (oo we should get him on steemit).
Why?? 'Cause it's a crypto that's backed by physical gold. It’s something that people can't manipulate.
Why can't it be manipulated? Because it's backed by real gold. Not Bitcoin.
You see, this makes the Quint very special...
(source: google)
It's not a security, it's legal tender. It's spendable, it's tangible, it's scarce, it has value, it's loanable, it's stable, it has no capital gains, it's transparent, and it's inflation proof.
You guys!! This means cryptos could be exchanged or traded in a unit of measurement that's as stable as day-to-day government-backed fiat). And definitely much more stable than this wobbly giraffe I found on Pinterest:
Now, before you yell at me and say...
'But it can be manipulated; gold can be manipulated!'
I'll just say that's true, but this way of thinking will change over time. I see the whole blockchain and crypto economy shifting from what it is today to a new reference system and Bitshares will be there with a crap ton of gold to support it.
This will likely be the trend moving forward (especially as we continue to see large swings and manipulation with Bitcoin from the big wigs from Wall Street).
(you can get this at CMC wigs. Not to be confused with Wall Street big wigs)
I'm still a fan of Bitcoin for a variety of reasons, but I also see lots of value in something like the Quint as well. Especially when it comes to bringing about real legit freedom.
With the Quint, you'll have access to transportable legal gold that can be sent online, anywhere in the world, and under 3 seconds flat.
Man, I wish you could send me anywhere in the world that fast. For now, though, I'll settle for sending gold that fast.
Quint is an asset on the Bitshares network that you definitely want to check out.
It'd be likely to be a preferred trading pair on the Bitshares platform (instead of someone’s promise of dollars, Bitcoin, or something else).
In other words? If you want stability with your crypto transactions, without people getting all up in your space and manipulating your stuff (from wall street people and professional traders), then look into Quint and the rest of its family.
It’s the real deal.
The way I see it, the Quint is going to be a game changer. It's the first smart coin that is actually backed by something with real-world value.
And the best part?
The fact that you will be able to trade the Quint in for real gold.
According to the quintric.com website:
“Each Quint token is worth five U.S. gold cents.”
Precious metal-backed crypto - it’s the future y’all.
You've just come across the world's first family of precious metal legal tender cryptos (Not a dysfunctional family, either...a happy one I'm pretty sure)!
If you have fiat money, you can put it into Quint and not have to worry about volatility (or your dollar being fluctuated up and down due to the nature of all the other cryptos with big supply and no physical backings).
With the Quint, however, it's different than other cryptos in that there isn't a max supply of the token. Nope.
Since it's backed by precious metals, it's limited by the demand for it and the supply side (precious metals backing it) to fulfill that demand. This creates stability (unlike all of the other cryptos on the market).
This is why Quint can easily act as a new on-off ramp for the BitShares platform. If you want to get out of quint, you can either exchange it for real gold which is amazing or you can exchange it for fiat.
It's clear to me that the Quint is a very unique and versatile tool that will only help the Bitshares community grow. What's not to like about this? Stability, strong liquidity, and something that is fully backed and redeemable in gold. Very smart.
Exchanges, companies, and regular people could all leverage this. Once again, the Bitshares team and ecosystem solves a problem that many have not even thought about yet.
What about the difference between Bitshares, bitUSD, and Quint?
Well, both Bitshares and bitUSD are on the blockchain, and Quint would be off the blockchain, hence why you can get gold, because that's off the blockchain.
You can't redeem other cryptos for gold.
And the Quint represents ownership in something off the blockchain (which would have counterparty risk).
So, it just depends on the agreement with the issuer.
Each one of those though (Bitshares, bitUSD, Quint) has their uses.
And since Bitshares is a smart coin factory (aka a beautiful onion with many layers), you can simply adjust the mix of risks and benefits. And you can do it in a matter of seconds.
Powerful stuff.
The way I see it? Quint will deliver great value long term. And it will quickly become one of the best assets on the BTS network. It’s unlike anything that has ever been released.
Some people are raising ICOs to create a commodity backed crypto (and to raise crazy amounts of money), whereas Quint, and the Quintric family, is already fully operational. No money needs to be raised.
No ico scams.
It's already built. Yep, you read that right.
That’s what I appreciate about the Bitshares ecosystem. The team(s) involved aim to create real products, partnerships, and assets. And they do it all really fast.
I don't know about you, but I prefer that over speculation. Overall, the Quint is a great idea. It offers stability and insurance, both of which are absolutely necessary for mass adoption!
If you have any questions, let me know prease!
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