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1 hour ago, DTMark said:

A client has asked me to look into this perhaps with a view to building something similar.

I've read it several times and I haven't a clue what it does or what - or who - it's for.

Does anyone have any idea?

https://bips.moneybrain.com/

 

It reads like a virtual currency which is on the gold standard as it is asset backed.

@deathfunk or @spunko know far more about virtual currencies than me so can give a more informed and nuanced opinion.

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The video says that one of the problems with crypto-currencies is that there is too much volatility.

They assert that they have managed to solve this where nobody else has in such a way that the value remains stable.

I'd have thought this would be done by backing it with a variety of assets perhaps like a pension fund.

It's 95% backed by property. Looking at the pictures of "The Team" many are old enough to remember what happened between around 1989 and 2000. Property doesn't change value very quickly and is not necessarily stable in the short to medium term.

If the property market collapses does that wipe out their crypto-currency?

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11 minutes ago, Frank Hovis said:

 

It reads like a virtual currency which is on the gold standard as it is asset backed.

@deathfunk or @spunko know far more about virtual currencies than me so can give a more informed and nuanced opinion.

I don't know about the tech other than to say there are now thousands of crypto coins and tokens and if you think bitcoin is volatile it is nothing compared to most of these. Great opportunities if you are willing to lose everything. These can 10 bag in a month. 

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Just now, DTMark said:

The video says that one of the problems with crypto-currencies is that there is too much volatility.

They assert that they have managed to solve this where nobody else has in such a way that the value remains stable.

I'd have thought this would be done by backing it with a variety of assets perhaps like a pension fund.

It's 95% backed by property. Looking at the pictures of "The Team" many are old enough to remember what happened between around 1989 and 2000. Property doesn't change value very quickly and is not necessarily stable in the short to medium term.

If the property market collapses does that wipe out their crypto-currency?

Oh. I didn't watch the video. Derp. Yes, you get stable coins like Tether which are used predominantly for arbitrage IIRC.

Backed by property? UK property is the flip of Sterling currency. I really don't know how backing a crypto stable coin with Sterling would work. And I don't think you need anything physically to back up a currency. 

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