It took ~3 years and ~€4.1 million for the Deutsche Bundesbank to move ~$12 billion (300 metric tons) of gold from NY to Frankfurt

 

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If it were done using Bitcoin it would have taken ~60 minutes and cost ~$0.3977 at today's TX fee values: https://bitcoinfees.21.co/

This is interesting perspective for the settlements vs micro TX debate: Do we want a low security high performance network? or, a low level, high security, high value network?

This is the response by Deutsche Bundesbank when I asked about this gold reserve transfer:

http://imgur.com/8fmSToR

submitted by /u/DonaldMcIntyre
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247 Bitcoin

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247 Bitcoin -1 Bitcoins -247 BTC - 1 Crypto - Kryptous

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