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Topic: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 37. (Read 31522 times)

copper member
Activity: 676
Merit: 181

I'm sure that real gold traders would love such a convenient way to sell, exchange, send and pay with their real gold holdings Wink.

We need more adoption, but I'm convinced that anybody who will find the GOLD token and is actually involved in real gold trading, will be blown away with the endless possibilities this token gives to hodlers/investors/users.

I'm "all-in" on the GOLD token, real gold, BTC, ETH and you?



Dear wwzsocki,

Thank you for such a review. Try to diversify your savings to be calmer at the end of 2020.

Regards,
Support Team @ Digital Gold
https://gold.storage
hero member
Activity: 2366
Merit: 838
I'm "all-in" on the GOLD token, real gold, BTC, ETH and you?
Charts for GOLD (physical gold): https://goldprice.org/nl/gold-price-chart.html

Choose the 30y tab and you can see how physical gold rises and falls in the last 30 years. It can be wrong if believe that history will always repeat everytime and all cycles in history will be repeated in the future. Somehow price chart can help us to see what happened in the past and get some ideas from history.

Gold ended its bull run from 1993 to 1996 and dived in its bear market. The market ended in 2003 and bull market began in 2004. That bull market lasted from 2004 to 2008 or you can say it lasted till 2012 if you ignore corrections in late 2008. It is a 8 year bull market.

That bull market ended in 2012 and the next bear market only ended in 2019. The gold is in its new bull market and in the first year of this bull market. Corrections are along the journey to the Moon with gold.

Gold Moon and it is the start of a parabolic growth!
legendary
Activity: 2744
Merit: 1708
First 100% Liquid Stablecoin Backed by Gold
I needed fast some ETH and had to sell my GOLD tokens  Cry

The good news is that I used Digital Gold Marketplace https://gold.storage/en/market and the transaction was (as always) cheap, fast and easy to do  Cheesy

It took only a few minutes (because of confirmations  Wink) and with the cheapest gas settings, I had my ETH in the Metamask wallet, literally in 10 minutes.


https://gold.storage/en/market

I'm sure that real gold traders would love such a convenient way to sell, exchange, send and pay with their real gold holdings Wink.

We need more adoption, but I'm convinced that anybody who will find the GOLD token and is actually involved in real gold trading, will be blown away with the endless possibilities this token gives to hodlers/investors/users.

I'm "all-in" on the GOLD token, real gold, BTC, ETH and you?

hero member
Activity: 2366
Merit: 838
To be honest, now I am also bullish because real gold and BTC are lately correlated and look like both kings (real and digital) want to go on a trip to the moon.

Let's wait and see but as for now there is really nothing to worry about, the GOLD token price looks good and the chart even better.

My prediction for BTC is 20K at the end of 2020 (epic  Wink) and the same for gold - at least new record highs, fingers crossed - bags filled, now only left to wait  Wink.
Bitcoin, gold and stock markets love the Election results in the US. They all rock together last week. Bitcoin will have its price at 20k but I don't believe it will be hit in this year. Maybe it is a target of bitcoin in first quarter of 2021. Gold, it is on the bull run.

It does sort of, it gives you estimation of maximum fees you pay for that particular transaction. I saw many cases where people paid more in fees than their actual transaction value.
If you don't have too much Ethereum in your wallet, you can not spend fee that is higher than transaction value.
hero member
Activity: 2520
Merit: 952
Not only this. The good news is transaction fee on ETH network has been low in the last 2 weeks and today. There is problem with gas limit but it is good to see fee in Gwei began to fall back to normal area.
Gas limit is the maximum gas that can be spent for a transaction. Since all gas allocated to a transaction isn't necessarily spent, transaction fee doesn't actually depend on gas limit.
Transaction fee depends on used gas not gas limit.

It does sort of, it gives you estimation of maximum fees you pay for that particular transaction. I saw many cases where people paid more in fees than their actual transaction value.
legendary
Activity: 2744
Merit: 1708
First 100% Liquid Stablecoin Backed by Gold
...I'll bet it will reach 62Kusd / kg without a hitch. I extremely suggest to keep holding the gold token in the wallet...
...My guess is that a small dump could be next... I expect a slow down/consolidation period...

I see that nothing changed from our latest discussion about the GOLD token price and like always, there are as many opinions as there are traders  Cheesy.

Last time, I was also skeptical and after really in deep research and reading a few articles about the gold price, I have posted my bearish prediction.

Luckily there are people better than me and they were not afraid to post a bullish prediction, despite the chart looked not so good (in my opinion) because the price was in an ongoing correction.

To be honest, now I am also bullish because real gold and BTC are lately correlated and look like both kings (real and digital) want to go on a trip to the moon.

Let's wait and see but as for now there is really nothing to worry about, the GOLD token price looks good and the chart even better.

My prediction for BTC is 20K at the end of 2020 (epic  Wink) and the same for gold - at least new record highs, fingers crossed - bags filled, now only left to wait  Wink.
legendary
Activity: 3668
Merit: 6382
Looking for campaign manager? Contact icopress!
Now I would like to hear your predictions for GOLD in the near future  Wink

If you go yearly (or more) on the same chart you'll see that the August 6 spike was not matched yet. Of course, gold is not that far of it either, so it's OK. Actually great, compared with last winter or spring.

What will happen? My guess is that a small dump could be next ("buy on the rumors, sell on the news" + US elections) and then it may go in either direction, but most probably will simply stay close to current levels (maybe slowly grow).

If you look on long period charts the spikes seem to happen in summer and I don't expect anything different for now. This means that I expect a slow down/consolidation period.
However, I am nothing near to a specialist, so I may be awfully wrong.
full member
Activity: 664
Merit: 112
Ethernity CLOUD
I thought that I will see a party in this thread or at last many happy comments from GOLD token holders about the rising gold price and here is so quiet.

No way to let it be like this further and I am very happy to announce that GOLD token is on a run to the moon!!!

Just look at the real gold price chart.


https://goldprice.org/nl/gold-price-chart.html


When I take a look at the chart, the increase has been continuous from the end of 1st to 3rd November, I'll bet it will reach 62Kusd / kg without a hitch. I extremely suggest to keep holding the gold token in the wallet, the chart is just a beginning move, there will be more.
legendary
Activity: 2744
Merit: 1708
First 100% Liquid Stablecoin Backed by Gold
I thought that I will see a party in this thread or at last many happy comments from GOLD token holders about the rising gold price and here is so quiet.

No way to let it be like this further and I am very happy to announce that GOLD token is on a run to the moon!!!

Just look at the real gold price chart.


https://goldprice.org/nl/gold-price-chart.html

Looks like the Digital Gold team and few members in this thread were fully right some time ago when they predicted this rise.

I have to admit that such a prediction was really brave because it was at the time of BTC and SP500 correction.

Of course, I am very happy that they were right because I hold a significant bag of GOLD tokens and every time when BTC corrects or the charts looks not promising, I stopped exchanging BTC/ETH to USDT, only use the GOLD token instead because it performs a lot better and gives me additional profits all the time. To be honest many times I even don't go back to BTC, only leave my GOLD tokens in the portfolio and buy BTC with money from different sources.

Now I would like to hear your predictions for GOLD in the near future  Wink

How high will it go?
legendary
Activity: 2380
Merit: 5213
If you only send ETH and there is no token involved in the transaction, the used gas would be 21,000.
Remember that we are talking about gas limits and not actually used gas.
You can always set the gas limit yourself.
The requirement for the gas limit is that it must be equal or bigger than the gas needed to be used for a transaction. Otherwise, the transaction would be failed.
So, when a transaction needs 21,000 units of gas, you can set the gas limit to 21,000.
If you set the gas limit to 25,000 or any other amount bigger than 21,000, the extra gas will return to your wallet.

Take a look at this transaction which I selected randomly from etherscan.
The gas limit has set to 21,000 and 100% of it has been used for the transaction.
legendary
Activity: 3668
Merit: 6382
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I didn't know it "by the book", with proper name and such...

You don't have to know the exact gas limits of course

I think that you've got carried away or got the wrong quote. I was talking about "dollar-cost averaging", not gas limits.

However, thanks for explaining since ETH fees are quite a challenge for me. So only the quoting is wrong.
legendary
Activity: 2744
Merit: 1708
First 100% Liquid Stablecoin Backed by Gold
If you only send ETH and there is no token involved in the transaction, the used gas would be 21,000.

Remember that we are talking about gas limits and not actually used gas.

Additionally, I haven't mentioned token or ETH only talked about the simplest transaction, which occurs between two wallets.

Quote
The simplest transaction on ETH network is between two wallets and the gas limit for such transactions is 25000 gwei.
legendary
Activity: 2380
Merit: 5213
The simplest transaction on ETH network is between two wallets and the gas limit for such transactions is 25000 gwei.
If you only send ETH and there is no token involved in the transaction, the used gas would be 21,000.
Also note that, gwei isn't unit of gas limit. gwei is used for gas price.

1 gwei= 0.000000001 ETH
legendary
Activity: 2744
Merit: 1708
First 100% Liquid Stablecoin Backed by Gold
I didn't know it "by the book", with proper name and such...

You don't have to know the exact gas limits of course, or even how to correctly count them "by the book", just remember that the more complicated ETH transaction is the more gas is needed.

The simplest transaction on ETH network is between two wallets and the gas limit for such transactions is 25000 gwei.

The simplest transaction on Uniswap needs at least a gas limit of 150.000 gwei, because it will interact with few contracts at least and the more complicated it is the more it will costs.

Simple as that.

If you know that your token will be swapped back and forth at least few times before finally reach your wallet, then for sure the gas limit will be high, so the best way to send it for cheap is to wait for the gas price to be lower.
legendary
Activity: 3668
Merit: 6382
Looking for campaign manager? Contact icopress!
To be honest, what you described is a well-known strategy called "dollar-cost averaging" DCA.

I didn't know it "by the book", with proper name and such. But I've found it described here on Bitcointalk and on tweets of crypto-related persons in many occasions. I found it a good rule so I tell it now and then to people asking.
Nice to know it's name and I'll also read the article later today  Wink
legendary
Activity: 2380
Merit: 5213
Not only this. The good news is transaction fee on ETH network has been low in the last 2 weeks and today. There is problem with gas limit but it is good to see fee in Gwei began to fall back to normal area.
Gas limit is the maximum gas that can be spent for a transaction. Since all gas allocated to a transaction isn't necessarily spent, transaction fee doesn't actually depend on gas limit.
Transaction fee depends on used gas not gas limit.

Used gas in Ethereum is something like transaction size in bitcoin. It doesn't depend on how much network is congested or how fast you want your transaction to be.
Used gas only depends on size of the data included in the transaction.
hero member
Activity: 2366
Merit: 838
To be honest, what you described is a well-known strategy called "dollar-cost averaging" DCA.

"Dollar-cost averaging - popular strategy for building investment positions over time. When you dollar-cost average, you invest equal dollar amounts in the market at regular intervals of time. The idea is to get the best deal on desired investment by controlling for market fluctuations. Rather than trying to time the market, you buy in at a range of different price points."
For DCA investment method, I do my DCAs when price falls about 30% from my first entry price. For gold, it is unrealistic to wait for the 30 percent fall in this period so I would wait for each 10 percent fall and make my DCA.

Quote
GOLD token price keeps climbing and the use case is amazing, no way to be not successful, such digression to close the comment  Wink                                      
Not only this. The good news is transaction fee on ETH network has been low in the last 2 weeks and today. There is problem with gas limit but it is good to see fee in Gwei began to fall back to normal area.
legendary
Activity: 2744
Merit: 1708
First 100% Liquid Stablecoin Backed by Gold
...One rule I've seen at investing was to buy smaller amounts over longer period of time...

I fully agree with you and many times I have used this strategy personally when trading/investing in GOLD token or BTC.

To be honest, what you described is a well-known strategy called "dollar-cost averaging" DCA.

"Dollar-cost averaging - popular strategy for building investment positions over time. When you dollar-cost average, you invest equal dollar amounts in the market at regular intervals of time. The idea is to get the best deal on desired investment by controlling for market fluctuations. Rather than trying to time the market, you buy in at a range of different price points."

Here is a full article about this topic (quoted above) https://www.fool.com/investing/dollar-cost-averaging-what-investors-need-to-know.aspx.
I think worth reading because author provided many great examples of how the price looks like when buying DCA.    

I used to DCA Gold token for some time and this strategy works great.
Of course, there are also cons, but everything is explained in linked article, so I will stop here to make you more interested and willing to read  Wink Cheesy  

PS    
GOLD token price keeps climbing and the use case is amazing, no way to be not successful, such digression to close the comment  Wink                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
legendary
Activity: 3668
Merit: 6382
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My concerns is considering the price of 1 gold token at the moment, is it wise to buy now or do you think there might be some more or few drops and should wait a little to buy the dip??

It's difficult to know when the dip happens. One rule I've seen at investing was to buy smaller amounts over longer period of time.
Of course, this depends on how much you want to actually buy and where from, because at small amounts the transaction fees can become a problem.
Also usually Gold price (hence GOLD too) has lower daily variations, so the rules you see at investing in Bitcoin (which fluctuates way more) may not be that good here.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
...is it wise to buy now or do you think there might be some more or few drops and should wait a little to buy the dip??



Just look at real gold price and BTC price, both are very bullish and going strong up!!!

Read other comments above yours, everyone is bullish, even me  Wink Cheesy


https://goldprice.org/gold-price-chart.html

In my opinion, you can wait very long for a dip, BTC just broke 12K sealing and in my opinion, before the end of 2020, we will be at 20K.

As we can see gold is correlated now with BTC very closely, as we know the GOLD token follows exactly the price of gold, so buying and holding is the best option now.

I am usually very realistic when it comes to markets but we can see that even worst news about second corona wave, unemployment in the U.S, election have no impact on gold and BTC.

Which is great for GOLD token investors!!!
Thanks bro for the analysis, very much appreciate your opinion, but I kinda find it hard believe that btc will touch 20k before 2020 ends, lol, but I understand all you've said though, I follow the link the op posted, from there, I Will get to understand how this project works and possibly buy some gram of gold for the future.
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