Vemanti Group Inc (VMNT)

[Triple_Star]

First, VMNT is not even close to Bitcoin. It is involved, at the moment in lending money. Much like Helio if you follow them.

There is not a lot of difference than if a pawn shop started hoarding gold. When one goes in with their watch and gets a loan based on the value of the watch, they can keep the rate from fluctuating or becoming voltage if the watch owner knows the pawn shop has gold to back their overall worth.

The idea is the same as how the USD was previously a gold standard, prior to the modern economy-based currency value.

Will the value of cryptocurrency go up? I suppose by residual effect it could, but it doesn't have to. Im sure the USD go went up when gold went up, because the US had a reserve, making us wealthier, therefore residual effect on our currency. This increased confidence in USD.

It is shady, even more than when a government uses something as currency backing. But it is also how we place a value on something. No different than an arbitrary stock price that goes up or down based on a value we feel is appropriate.

There are 1000s of papers on how currencies are influenced by precious metals. It is an economy course standard topic.

VMNT/Fvndit are trying to capitalize on this concept since they aren't a country which can depend on import export trading to value their currency.