Want to read Slashdot from your mobile device? Point it at m.slashdot.org and keep reading!

 



Forgot your password?
typodupeerror

Slashdot videos: Now with more Slashdot!

  • View

  • Discuss

  • Share

We've improved Slashdot's video section; now you can view our video interviews, product close-ups and site visits with all the usual Slashdot options to comment, share, etc. No more walled garden! It's a work in progress -- we hope you'll check it out (Learn more about the recent updates).

×
Linux Business The Almighty Buck IT

Linux Flourishes In 200-Year-Old Gold Markets 195

Posted by timothy
from the neal-stephenson-themes-everyhere dept.
tbarkerload writes "H-Online [a spin off of a major German daily] reports on a gold trader managing over 15 tonnes of gold, worth $660m, with a platform built on open source tech. BullionVault operates a 24-7 electronic market in gold bullion open to both retail and professional traders. Their systems handle thousands of daily transactions from both human traders and bots operating through their API. If Linux has reached the world of hundred year old assaying firms, and Swiss vaults buried in mountains, can final world domination be too far away?"
This discussion has been archived. No new comments can be posted.

Linux Flourishes In 200-Year-Old Gold Markets

Comments Filter:
  • by lawpoop (604919) on Friday April 24, 2009 @05:16PM (#27707491) Homepage Journal

    Because it's pretty. That's about it.

    You're overlooking several things. First, gold is a metal. Metal currencies are better than other 'precious' things, because they can be melted down, recast, and almost endlessly. Gemstones are pretty, but the have problems as currency. For one, they can shatter, or break, and can't be repaired, which destroys value. If I want to trade 1/2 of my ruby with you, there's not an easy to do that. I can cut up a piece of gold almost endlessly and I don't ruin its value as gold.

    It's a pretty metal that doesn't tarnish or corrode, and it's relatively rare. It's an element, so it can't break down chemically. Silver and copper are also valuable elemental metals, but silver tarnishes, and copper corrodes.

It is much easier to suggest solutions when you know nothing about the problem.

Working...