BitMine’s Tom Lee just asked a trillion dollar question. If gold itself becomes tokenized on Ethereum, will Bitcoin still be attractive as digital gold? Tokenized gold moves faster, earns yield, lives inside DeFi, and becomes programmable collateral. $ETH $BMNR $BTC

This has literally already happened and been available in the free market for like 10 years as PAXG on chain. No one wants tokenized gold.

While ETH may be credibly neutral, whoever tokenized the gold is not. BTC is interesting because the west can’t for example stop Russia from transferring their BTC like they did with Swift. The west could however force the custodian of the tokenized gold to give up its assets. So yes, BTC is still attractive and Tommy Lee once again has no clue what he’s talking about.

Pretty sure Tom Lee’s been right about more trillion dollar trends than most of CT combined.

The guy constantly makes wild predictions, more than half never materialises… even a broken clock is right twice a day.

Dude, imagine if gold had an even lower issuance rate, and if it also had yield that was always higher than issuance, and instead of being tokenized it was actually native to Ethereum. Imagine if there was an asset like that...

PAXG has been a thing since last decade m8

@GoonTycoon_sol The boom you’re seeing now is post-regulation clarity, institutions can finally touch tokenized gold without fear.

Who cares if it’s tokenized if it’s not redeemable

@GoonTycoon_sol Perhaps you don’t care, but Wall Street clearly does.

Thing is it’s just another avenue for corruption and price suppression if it’s not redeemable

@GoonTycoon_sol Sure, but there’s more than one issuer. Users can choose between custodians, issuers, and even swap between tokenized gold assets.

Make it happen Jewish nigga

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Ethereum will never be as decentralized and secure as BTC, so a big fucking YES

Bitcoin: 3 mining pools run the show. Ethereum: 1M+ validators globally. Which one looks decentralized again?

@Cryptooo_777 Ethereum is proof of stake. How can you possibly claim it's decentralised.

@SamAltcoin_eth Yep, ethereum may have many uses, but it certainly isn't as decentralized as btc, it can easily be taken over by big institutions

When will people get that tokenizing things on ethereum will not make the price of $ETH go up? Unless done on L1 which no one does.

Could you tokenize BTC on Ethereum? Or is that a stupid question?

@EGFRReceptor Yes, that’s what wBTC is. Bitcoin wrapped on Ethereum so it can move, earn yield, and plug into DeFi.

I 2025 how do you still not understand basic counterparts risk Tokenize physical all you want but your still trusting someone else to hold it, secure it, deliver, and guarantee they actually have it in the vault, and hopefully a government never confiscates it, while ignoring you have no idea what the current world supply actually is, and ignore new discovering expanding supply. BtC has none of these problems.

@EGFRReceptor “No counterpart risk” But the network can’t fund itself once halvings kick in Transactions collapsing, fees evaporating, and miners depend on subsidies. At this rate, quantum computing will break BTC before its fee market even forms.

Tokenized physical gold is retarded. If you actually want to take possession of gold to hold it, for insurance during a catastrophe, paper gold is worth nothing. You will never be able to redeem it.

IMO anyone that doesn't understand how stupid this question is (3rd party collateral custody risk & production response to price increases) is a scammer or idiot.

The difference is that digitized gold on Ethereum still requires you to trust a 3rd party. I am not talking about Ethereum, I am talking about that you have to trust that the gold token is indeed backed by physical gold. And even if it is, it can of course be confiscated by governments, etc. Your token is untouchable on the chain, but if the underlying physical gold is gone it's worthless. Compared to this Bitcoin doesn't have this issue.

Bitcoin is final settlement of what? Tokenized gold, you have the token (like BTC) and the ownership interest in the metal. If BTC was attached to a RWA, even a treasury promise, commodity or something tangible, it would be far more interesting.

Bitcoin’s entire value prop is a meme only “21 million”

Correct, which can be changed with consensus of the nodes and miners. That is not probable, but it's artificial scarcity. You have the same artificial scarcity in other coins as well that I would argue may not have as strong of a network for now but they are easier to use and better tech.

@SamAltcoin_eth Right, but I would say its "Limited Supply" and not "Scarcity" like gold. The Bitcoin Cults propaganda is based on confusing limited supply and scarcity. BCH competes with BTC, created 21M more coins out of thin air. 👇

@SamAltcoin_eth Fair point, it's not actually scarce. It's got a software limit and you have multiple chains hard forked from it. BSV/BCH/BTC/ZEC etc. all the same with the artificial limitations..

@SamAltcoin_eth Similar to this Limited Edition coffee mug. It certainly has a limited supply, but coffee mugs are not scarce. 😉

@SamAltcoin_eth Excellent example

Tokenized gold is just an IOU. Still have to trust a third party and someone needs to secure, audit and move the gold for final settlement. Don’t be retarded

Tokenized gold doesn't change the fact that BTC's scarcity is its...

@cryptobombast1c BTC: fixed at 21M forever. ETH: adaptive, deflationary, and already issuing less than Bitcoin.

@cryptobombast1c ahahaha sure🤣 plus they can change the issuance when they want.

@cryptobombast1c BTC inflates ~1.3%/yr and caps in 115 years. ETH is ~0.16%/yr now, already near-flat and trending deflationary. You won’t be alive when BTC hits its cap.

But then the physical gold reserve requires a trusted centralized authority to manage it. Bitcoin was created to remove trusted centralized authorities from our monetary system. Tom Lee has lost the plot

You mean promises of gold, just like an etf. Is it really there?

“Would we still want to own bitcoin?” - Tom Lee It’s a fair question. Only delusional bulls want bitcoin. Since it’s impossible for 99% of retail to own 1btc, they’d want to look elsewhere becuase btc isn’t the only solution truthfully

Except this collateral will be held by the balls by the same governments and kings which seized gold again and again in the past centuries of human history 😘😘😘

Gold already tokenized on Ethereum since 2019 PAXGOLD PAXG Token a 1:1 vaulted Gold token ERC20 good way of holding physical rather than paper PAX Physical Gold Holdings audited monthly basis by KPMG LLP, reports publicly available show total physical gold held equals PAXG tokens

Let’s keep this gold in Fort Knox too!

Please tell me you're not this dumb

microhuckster Tom Lee, new king of the etheorydumbs, goes full retard with "tokenized gold" failing to see same etheorydumb premise as 2021 moron & her diamond ring NFT

I used to rate Tommy Lee and was confused when he said ETH would flip Bitcoin. Now listening to him ask this kind of question has clarified to me that he doesn’t really understand Bitcoin enough. That was honestly a high stupid question to ask for someone that goes on TV to talk about bitcoin.

Thats gonna burst MSTR sooner than u cld spell it 😳

BTC heading to $60 I already liquidated 90% of my holdings over the past 3 weeks. Selling last bit of trading position tomorrow. Reload in $60 - $70 contest

Pinning retail in BMNR so Cathie can bail

So, go back to trusting a middleman for another century? Sounds like a great idea.

Does this mean I can mine multiple precious metals from a single slurp juice?

Whoa, thats big...actual digital gold 🤯🤯🤯

It doesn’t seem to matter what Tommy says recently, as ETH just continues to head down, meeting there’s more sellers and buyers at the end of the day…

Yeah, because Bitcoin can be owned non-custodially in an easily transmittable way. Not that most hodlers care, but this is the fundamental property that makes Bitcoin valuable.

Yeah, Tom.

I love that people are finally stressing on the "final settlement" narrative as the true value of BTC. There is not INDIVIDUAL counterparty - just trust in the decentralized authority of individuals validating the blockchain for its authenticity. Tokenized gold is NOT digital gold. It is just a bearer's receipt for gold sitting somewhere else. BTC on the ledger assigned to your wallet IS BTC. That characterization is accurate and a critical distinction that needs to be made clearer in the the "digital gold" and "digital real estate" narratives.

Lol. That would be “trust me it’s gold” not gold. Ie it would be a Gold etf, not Gold. And if u wanna know the difference, open the chart of physical gold price vs paper gold ETF during a crisis. Big fat delta btw them prices. & that fat delta = markets don’t think it’s the same

You cant tokenize anything on permissioned blockchains you animal.