Topic: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 38. (Read 31850 times)

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

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.

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 

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.

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.

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.

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    

PS    
GOLD token price keeps climbing and the use case is amazing, no way to be not successful, such digression to close the comment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

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.

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.

Dear Fivestar4everMVP,

You can check the GOLD token price using our marketplace https://gold.storage/en/market

Just read some analysis about how the gold feels now and make a decision.

Regards,
Support Team @ Digital Gold
https://gold.storage

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  


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

In my opinion, you can wait very long for a dip, BTC just broke 12K sealing and 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 the second corona wave, unemployment in the U.S, elections have no impact on gold and BTC.

Which is great for GOLD token investors!!!

Hi guys,
Am looking to buy some gold tokens but to be sincere, I don't really know much about this project yet,but I still wanna go ahead cus theres a lot of positive reviews about the project,
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??

Your honest opinion will be very much appreciated.. Thanks all.

It looks generally that in near future bull run is ahead. Same goes for gold and for crypto. That is my prediction too based on some research I have done those days.

The interesting thing I can find from the GOLD price chart from here https://goldprice.org/gold-price-chart.html is physical gold has been in its recovery phase after the correction.

Do you notice that after breaking the strong resistance (1921 USD/oz to 1861 USD/ oz), gold price was dumped like bitcoin has 2 times since its all time high. And yes, fortunately, it is rallying from the correction. I see good signal from the chart and I believe it has 2 or years of bull run ahead.

As soon as elections are over and after that taxes come around so my opinion is that for new year we will see a bit of a uptrend. Its good time to buy even if you watch bitcoin charts. I have high hopes for end of this and next year in general.

If feel fear, cash out to fiat, then wait for falls and buy dips then hold. At least with this safe investment style, investors won't lose their fiat. I meant don't lose fiat on paper number and this statement is not counted inflation rate of fiat.

If gold price falls, buy more gold with same fiat fund. The same for bitcoin. If price is stable or increase, still have same fiat fund.

Indeed, political uncertainty usually translates into a drop. I know that my national currency usually drops in this kind of events.
But all should get back to normal as soon as the elections are over. And if the new president "is good" there could be quite a jump, not just a comeback.

It will be a difficult time for the whole market. President elections in the USA and COVID-19 will make some troubles to the traders.

As I said months ago when gold did not began its ride or in early weeks of its ride. Gold when takes off, it often has a 4 year ride. How many year physical gold has in this ride so far?

Keep calm and try to prepare your HODLpium for upcoming months. You can consider it as my indirect gold price prediction. Cheers, all fans of physical gold and digital GOLD token. 

I have to admit that my bearish sentiment was wrong. GOLD looks strong again and bulls took the action .


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

We are actually at the resistance level and if it will be broken, then there is a very big chance that GOLD will make new highs again.
For some time GOLD and BTC weren't so strongly correlated but in last weeks it seems to be changing again and both kings the real and virtual one are going head by head.

The GOLD token is just great and I see totally no difference between investing in real gold. Maybe the only one that it's much easier to buy, sell, send and do all other things impossible with real gold.
I'm convinced there will be a huge market for GOLD token very soon, we are still very early on. This will be exactly the same as with everything, internet changed the way we are buying things, all shops are to find online, even closing the doors and go fully online. This same will be with cryptocurrencies we only need a couple of years more and everything will be digital.

Thank you guys, I was sent some very small amount of Gold token probably for  youtube campaign from your bounty thread, i love the fact that it's very much easier to purchase gold now through this project, this will make a whole lot of sense in the near future and this Will be one of the crypto companies to stand out when crypto gets massive adoption.