Cryptocurrency Analysis - Tokenized gold is not equivalent to "on chain" gold, it represents trust in a third party for future gold redemption [1] - Tokenized gold relies on the trustworthiness of a third party to provide physical gold later [1] - The "trust me bro" nature of tokenized gold is a reason why "gold coins" have not gained widespread adoption [1] Market Observation - Peter Schiff is launching a tokenized gold product allowing users to buy, transfer, and redeem gold through an app [1]