Goldmoney Inc. Publishes White Paper: “Drop Gold and The Myths We’re Told”
24 May 2019 - 7:15AM
Business Wire
Goldmoney CEO Roy Sebag Illustrates Gold’s
Superiority to Bitcoin as Money in Response to Statements Made by
Grayscale Investments
Goldmoney Inc. (TSX:XAU) (US:XAUMF) (“Goldmoney”) (“the
Company”), a precious metal financial service and technology
company, today announced the release of a new white paper by
Goldmoney CEO Roy Sebag: “Drop Gold and The Myths We’re Told – A
Naturalist’s Exposition of Gold’s Manifest Superiority to Bitcoin
as Money”.
The white paper addresses recent statements and representations
made by Grayscale Investments, LLC (“Grayscale”) and its principal,
Barry Silbert, through an advertorial campaign entitled:
“DropGold”. The paper examines the natural properties of bitcoin
and gold and highlights several proofs for why gold is superior to
bitcoin as money.
1. Bitcoin, far from being weightless or
virtual, is in actuality physically heavier than gold.2. Bitcoin
occupies more volumetric space than gold.3. Gold is more value
dense than bitcoin.4. Bitcoin needs gold to exist, gold doesn’t
need bitcoin to exist.
“It is my hope that the Bitcoin community will embrace this
research and a shared understanding that the gold and
cryptocurrency communities should be working together rather than
against each other as we march towards the inevitable demise of the
fiat currency system,” said Roy Sebag, CEO of Goldmoney.
View the white paper: “Drop Gold and The Myths We’re Told – A
Naturalist’s Exposition of Gold’s Manifest Superiority to Bitcoin
as Money”.
About Goldmoney Inc.
Goldmoney Inc. (TSX: XAU) is a precious metal focused company
that safeguards $1.8 billion of assets owned by clients located in
over 150 countries. The company’s activities include: sale and
purchase of precious metals and their storage through
Goldmoney.com, online jewelry retailing through Mene.com (TSX-V:
MENE), coin and bar sales and purchases through SchiffGold.com, and
gold and silver collateralized lending and borrowing through
LendBorrowTrust.com. Through these businesses Goldmoney provides
its shareholders with long-term exposure to the precious metals.
For more information about Goldmoney, visit goldmoney.com.
Forward‐Looking Statements
This news release contains or refers to certain forward-looking
information. Forward-looking information can often be identified by
forward-looking words such as “anticipate”, “believe”, “expect”,
“plan”, “intend”, “estimate”, “may”, “potential” and “will” or
similar words suggesting future outcomes, or other expectations,
beliefs, plans, objectives, assumptions, intentions or statements
about future events or performance. All information other than
information regarding historical fact, which addresses activities,
events or developments that the Goldmoney Inc. believes, expects or
anticipates will or may occur in the future, is forward-looking
information. Forward-looking information does not constitute
historical fact but reflects the current expectations the Company
regarding future results or events based on information that is
currently available. By their nature, forward-looking statements
involve numerous assumptions, known and unknown risks and
uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections and other
forward-looking information will not occur. Such forward-looking
information in this release speak only as of the date hereof.
Forward-looking information in this release includes, but is not
limited to, statements with respect to: service times for
transactions on the Goldmoney network; growth of the Company’s
business, expected results of operations, and the market for the
Company’s products and services and competitive conditions. This
forward-looking information is based on reasonable assumptions and
estimates of management of the Company at the time it was made, and
involves known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of
the Company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking information. Such factors include, among others:
the Company’s operating history; history of operating losses;
future capital needs and uncertainty of additional financing;
fluctuations in the market price of the Company’s common shares;
the effect of government regulation and compliance on the Company
and the industry; legal and regulatory change and uncertainty;
jurisdictional factors associated with international operations;
foreign restrictions on the Company’s operations; product
development and rapid technological change; dependence on technical
infrastructure; protection of intellectual property; use and
storage of personal information and compliance with privacy laws;
network security risks; risk of system failure or inadequacy; the
Company’s ability to manage rapid growth; competition; the ability
to identify opportunities for growth internally and through
acquisitions and strategic relationships on terms which are
economic or at all; effectiveness of the Company’s risk management
and internal controls; use of the Company’s services for improper
or illegal purposes; uninsured and underinsured losses; theft &
risk of physical harm to personnel; precious metal trading risks;
and volatility of precious metals prices & public interest in
precious metals investment; and those risks set out in the
Company’s most recently filed annual information form, available
on SEDAR. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company undertakes no
obligation to update or revise any forward-looking information,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190523005828/en/
Renee WeiDirector of Global CommunicationsGoldmoney
Inc.renee.wei@goldmoney.comSteve FrayChief Financial
OfficerGoldmoney Inc.+1 647 499 6748
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