One interesting topic that got so many Bitcoin enthusiasts out there in complete gossip and speculation these days is what could be following the newest Bitcoin split and the newest Bitcoin [Gold] addition into the world of crypto. At the time of writing (end of October), Bitcoin Gold is priced at just $158.
It is not intended here to either provide gossip or speculation to that Bitcoin Gold price would be from here. It is just intended to point out that it would have made things so much easier if Bitcoin Gold price was pegged to the price of gold at any particular moment. So, let’s say that today 1 kilogram of gold costs like $41,000 dollars. So, developers could disassociate Bitcoin Gold’s value based on market value, get Bitcoin Gold removed from all exchanges, and instead implement measures where buyers and sellers could exchange Bitcoin Gold to USD, for example, for $41,000 each.
But, really it does not even have to be pegged to kilograms of gold. Fine, let 1 Bitcoin Gold be worth 1 gram of pure gold or its equivalence. Why this idea? To make Bitcoin Gold a bit more original. As in, why choose the name Bitcoin Gold in the first place? So, just like the DigixDAO asset, Bitcoin Gold could also use some closer ties to the gold metal.