showcase Showcase your Royal Mint Gold domains (RMG)

[baseballworld]

This is the time for everyone to see the new niche. Showcase your royal mint gold domains or RMG as they are called. more information here about them here will eb a blockchain much like bitcoin only real gold backing worth billions.

http://bravenewcoin.com/news/uks-royal-mint-and-cme-group-launching-gold-backed-blockchain-assets/

here are my 2

RoyalMintApp.com - obviously gonna be an app made. lol
RMGPrice.com - chose this because in bitcoin phrases it was highest searched phrase monthly behind bitcoin itself.

 

[Beezy]

There's a lot of misinformation in this thread and it's almost as if it's purposely misleading.

Keeping an eye on these developments but something is up here.

 

[Kuffy]

There's a lot of misinformation in this thread and it's almost as if it's purposely misleading.

Keeping an eye on these developments but something is up here.

I agree - I can see no value in any domain name with RHG in it if you are hoping to promote gold trading. Of course, I'm probably wrong, and there may be a few names that could have some value, but most of the names listed here are unusable imho.

 

[usernamex]

I had to skim through this thread just to see what all the fuss was about. Very happy I have scaled back my buying.

The whole topic is way over my head, so in good-natured fun I offer the following backup acronym solutions:

Reach My Goal
Raise Many Goats
Resole My Galoshes
Rain Making Gurus
Rip My Glutes
Rescue More Gorillas
Roll My Ganga
Register More Garbage

<--- : ducking flying vegetables :

 

[Kuffy]

I probably contributed to the thread deflection because I believe in Bitcoin. Well Bitcoin once the infighting has stopped.

My take is that RMG is not a retail service, as it is marketed through agents, so I guess there may be a possibility for a site such as RMG agents. It seems to be a mechanism for investment in virtual gold, and is not likely to be a trading medium, so there is no scope for conversions unless one of the agents offers this. Their concept of a "blockchain" needs some clarification - for example is it a proof of stake and trading record, or just a ledger of recorded transactions.

If I get a chance, I'll do a bit of research, in the meantime, any better information would be received gratefully. Maybe this should be in a new thread though.

 

[baseballworld]

Well one thing we must remember is we supply a niche that's expanding and domainers invest based on there abilities. They know what there getting into regardless with the risk in a new area.

 

[Kuffy]

Hopefully discussions on Name Pros can help to minimise those risks, and to expand their profitable investments.

 

[baseballworld]

Yeah for sure I believe some people should do a little more research before jumping into this one.

 

[mad409]

It's been confusing from the start but we do have a few facts so far, correct me if I'm wrong. My 2 cents...

· They call it RMG, it's 1 kilogram per RMG, it's a digital asset.

· The Royal Mint will back this with stored gold in their vault, secured investment.

· It will be on a blockchain, never been done successfully before.

· It will allow access for people around the globe to invest in gold, whether it's one RMG, or multiple RMG's etc..

· No need to hold real gold assets such as coins etc., or enter gold stock market trading with this new option.

· Don't register domains with The Royal Mint in the domain.

· RMG is generic, don't go overboard until more information is released. If you do, don't point to gold related ads etc.. Again RMG is generic.

· They can't do this on their own and just one site therefore it's my opinion many sites will flourish offering RMG. Not only websites but other means such as kiosks etc.. That is if in fact this gets off the ground which has yet to be seen but we have good backing so I think it will.

· There has to be a commission/residual for them and others that promote the gold blockchain as with any great idea money needs to be made. This might be done through approved affiliates, not sure but again it's my opinion for this to fly they will need to relax with the RMG trademark or they will never get off the ground by themselves..

Now I wait to see more news...

 

[baseballworld]

Being that it's not easy could work as a benefit though. Could be what creates more value for those who chose wisely.

 

[Kuffy]

Well it's been useful for me, because I've picked up a couple of gold names that I wouldn't have thought about. No RMG ones though.

 

[Kuffy]

Well I don't want to rehash everything, but here are a couple of facts.

RM aren't the first to try to link gold to a blockchain
RM online sales are done through RM signature gold - http://www.royalmint.com/bullion/products/signature-gold
A blockchain is a string of computer records not a warehouse - therefore any linked gold will be virtual, and not tied to specific physical assets.
I haven't discovered if the "blockchain" will be viewable by the public, authorised dealers, or clients of the dealers. I'm sure it will be viewable by the tax man though.

 

[mad409]

@Kuffy RM aren't the first to try to link gold to a blockchain

"That's been mentioned within the press but they have the backing."


RM online sales are done through RM signature gold - http://www.royalmint.com/bullion/products/signature-gold

"Not even close to being the same thing as what they are trying to do."

A blockchain is a string of computer records not a warehouse - therefore any linked gold will be virtual, and not tied to specific physical assets.

"Totally wrong, backed by their gold holdings and the amount will increase as needed."

I haven't discovered if the "blockchain" will be viewable by the public, authorised dealers, or clients of the dealers. I'm sure it will be viewable by the tax man though.

"Don't think this needs to be hidden to the tax man, like bitcoin. Not what they're trying to accomplish here IMO!"

 

[Kuffy]

Totally wrong, backed by their gold holdings and the amount will increase as needed.

So who decides what is "needed"? You can bet that pretty soon they will start to use fractional reserves.

How do you link a physical section of a gold bar to a specific buying record on the blockchain? If you can't do this, then the holding is virtual.

What happens if you sell half of your holding? Is the original record contra'd and a new record created? How does this affect CGT?

 

[Magicpig2]

Thrown a couple of bucks at this:

VirtualGeld
VirtuellesGold

.com's

 

[mad409]

So who decides what is "needed"? You can bet that pretty soon they will start to use fractional reserves.

How do you link a physical section of a gold bar to a specific buying record on the blockchain? If you can't do this, then the holding is virtual.

What happens if you sell half of your holding? Is the original record contra'd and a new record created? How does this affect CGT?

You need to read a bit more on this subject, I'm not in any way promoting it, or telling anyone to buy domains.

It's backed by real gold assets, whether you agree or not.

It's not virtual like bitcoin that doesn't really exist but rather digital gold which does.

I have no clue how the entire system will work, as I advised let's see what happens and what new news is released.

 

[Kuffy]

I think I need to back out of this thread.

"digital gold" by definition is not physical gold. What is a "real gold asset" - is it physical gold, or a paper derivative?

 

[mad409]

I think I need to back out of this thread.

"digital gold" by definition is not physical gold. What is a "real gold asset" - is it physical gold, or a paper derivative?

Digital gold is what will be offered through their blockchain technology and backed by real gold in the vault.

It's still real gold but just not in your possession.

I'm out got a Titans game in six hours, need some sleep...

 

[ustradebitcoin]

what about RMGspace , rmgtalk, rmg.it , rmg.ht

 

[Dun]

what about RMGspace , rmgtalk, rmg.it , rmg.ht

rmgTalk looks fantastic and more of a forum about RMG

rmgTalk.org to correspond with bitcoinTalk.org would be really a good catch.

However both are taken in the RMG rush!

Lucky you if you'd them

 

[Dun]

Digital gold is what will be offered through their blockchain technology and backed by real gold in the vault.

It's still real gold but just not in your possession.

I'm out got a Titans game in six hours, need some sleep...

I think I can put what's been said so far in an organized stream of points. Hope I've the time to do it though.