Topic: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 46. (Read 30774 times)

Dear CryptopreneurBrainboss,

The token centralization depends on what is written in the smart contract.  The contract either allows you to freeze tokens or not. As far as I know, freezing is not provided for by GOLD token smart contract. But I will clarify that.

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

If the industry can't survive or succeed without the help of government regulations then it didn't achieve anything because the ideology behind the creation of bitcoin and blockchain entirely was to give back power to the massive through decentralized operation (P2P) instead of a selected few (banks & government).

I need some clarification on this, is Gold stablecoin a centralized or decentralized stablecoin. In a scenario when iit's a centralized stablecoin, can my assert (funds held in Gold stablecoin) be frozen like we're seeing with other stablecoins?

Just curious because I know one of the advantage of the industry that caught my attention was the idea of having total control over my funds but with what I just read few days ago with the whole sage of stablecoin getting frozen is just disappointing.

Blockchain, crypto, decentralization are future of human society that is what developers aim at and what human are looking for, except governments. It takes some decades for the Internet to change the world. There are some bubbles in Internet industry and its growth but after all, decades later it has changed the world and that is what we are enjoying now.

Blockchain technology is too young and it might take next 1 or 2 decades to actually mature technically and change the world.
The probability to see stable coins will be frozen still be there and it depends on governments somewhat. Especially important on how the law regulations will be mature in the near future to control the blockchain industry and crypto market. Beside that, the growth or blossom of crypto scam projects will do have their impacts of the decisions from governemts to tighten or loosen their law regulations.
Stable coin is a misleading term for people who don't actually understand its core value. If they don't know which assets are used to back stable coins, and don't know how to correctly assess the value of assests, they will under- or over-value stable coins.

As being discussed, stable coins are back by gold (that is also stored legally and safely in vaults) and stable coins are back by scam and inflated fiats are different in values, for now, for future and at the ends.

You should as cryptocurrencies are the future of money  and any application/project built on it are likely going to succeed with it. The industry is still new and so is Goldstablecoin so the possibility of it succeeding is very high.

The news making the wave currently is how stablecoins are freezing (blacklisting) the address of investors holding their token which just go against the whole concept of decentralized. But thankfully those aren't decentralized project but just centralized pieces of shit profiting from the hype of the blockchain technology.

In the soonest time possible people who realize the importance and benefits of patronize only stablecoins related project with integrity and a trustworthy service like that of Goldstablecoin.

Thank you for the kind words.

Dear NeuroticFish,

Thanks for such a nice app. We need such an option. Glad to see how our users try to upgrade the ecosystem.

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

If it interests you to know when your tokens arrive into the wallet (GOLD or anything else) and if you use Windows, you can take a look at this application I've made some time ago:
https://github.com/neuro-fishy/FishyTokenWatcher

This should notify you at any change of the wallet content.

No wallet is perfect in recommending perfect gas price, neither etherscan's eta confirmation times. I go with regular gas price, and my transactions get confirmed within a minute or two, even tho etherscan say 13 mins.

Myetherwallet usually doesn't recommend the gas price well. Sometimes, it recommends the gas price more than needed and sometimes less than needed.
I always check ETH Gas Station before making any Ethereum transaction. It's much more accurate.
Today, I made a transaction too. The recommended gas price for making a fast transaction in ETH Gas Station was about 10 Gwei higher than myetherwallet and now at the time I am making this post, the recommended gas price in ETH Gas Station is about 10 Gwei lower.
The recommended gas price in ETH Gas Station is now 29 Gwei while Myetherwallet is recommending 40 Gwei.

Thank you for all payments last 2 months. During last two months, payments are credited much earlier than previous months. Hours ago, I moved my GOLD tokens on GOLD marketplace and it seems the transactions need more time to process on both Myetherwallet and GOLD marketplace. It takes about 30 minutes to be fully processed on Myethewallet (with default gas) and maybe the same time to be credit from GOLD marketplace to my account.

I don't say its longer waiting time belong to Gold marketplace, indeed maybe something relates to Ethereum network again.

Dear tbct_mt2,

Yes. All bounty payments for June payed yesterday.

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

Scarcity, yes, it is what I meant above. Human can not print or mint physical gold. Gold resources on the Earth are finite and it depends on how human mining technologies will grow in the future to mine all physical on the planet. No matter how advanced the technologies will be, resources are limited, not infinite.

https://coinmarketcap.com/currencies/tether/
The price chart shows Tether USD is almost stable compare to USD, recent 2 years Tether USD price has fluctuated in the range about +/- 3% compares to USD. Unfortunately, it does not take into account the inflation of USD in reality. Physical USD does not have scarcity as physical gold has. The US government can print as many USD as they wanted for. The pandemic proves that fact, fortunately.
Gold will keep increasing in the future of course despite of rises and falls because of market changes. Its general trend will be upward. In gold, upwards we go.

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The info is off topic but if you have not yet noticed, payments for your works in June was credited 16 hours ago.

Buying gold is more like hedging against fiat depreciation than investing itself, although it's correct that it appreciates.

Not only printing can and will depreciate USDT in the future, in my opinion, but the biggest threat is in the missing money from Tether bank accounts, to really back it up 1:1 with the USD.
If there will be a black swan event, something happens and people will start to exchange their USDT to USD or any other coins/tokens/FIAT and withdraw from exchanges, we will see a massive price decline for this "stablecoin" because there is just not enough FIAT money in the bank to fulfill all their promises that every 1USDT is backed by 1USD.

Real gold, as we know likes to be the safe heaven in such breaking moments on the market, even better it tends to keep rising in price and add more value for investors. That is why the GOLD token is such a great stablecoin. Not only is tied to the real gold price, which likes to go up when there is the market bleeding, but also it's not so volatile and there is less probability that the price will collapse when people start to withdraw their funds because they are fully backed with real gold in the vault. Everybody can check the audits and see this in real-time.

These are the main differences between GOLD token from Digital Gold and USDT from Tether in my opinion.


https://www.bullionvault.com/gold-price-chart.do

In the last few days, real gold started to move up again price-wise, just like I thought it will happen and I am sure it is only begging and rapid price spikes will come next, especially if there will be indeed correction on other markets like stocks or SP 500.


1. You don't need KYC/AML to buy GOLD tokens, so you can literally buy tokenized gold fully anonymous, online, and as much as you want. Try to do this with real gold.

2. There is no problem with liquidity, you can buy almost any amount at any time. Try to do this with real gold.

3. No problem with storing, sending, safety, and all other problems with storage and logistics when you invest in tokenized gold using GOLD tokens. Try to do it with real gold.

4. You can trade it on exchanges, Digital Gold market, exchange P2P, immediately buy or sell online. Try to do this with real gold.

5. You can send it in smaller fractions, accept as a payment method, pay with it, always with you (available and ready to use, even in a different country), etc. Try to do this with real gold  .

Additionally, all that I have written above (in the first part of my post) also gives more confidence to buy a GOLD token than USDT or even real gold.

While I somewhat see you point, I don't like to bring (especially) USDT into discussion because USDT is not properly backed, hence my comparison with the actual USD.
(Also XAU-USD charts are available everywhere).
But since you started, I'll continue:


The different future should also happen because while GOLD token is backed by gold, USDT is backed by a pile of lies, hence I expect GOLD token continue to rise driven by gold's scarcity and governments' printing spree, while I expect USDT fail someday (of course, there are plenty of other USD-based stable coins to take its place).



I also see USDT (or GUSD or others) and GOLD as different categories. USDT is for every day quick transfer of funds and GOLD is for long term safe investment. Hence imho they are not so much in competition.

Let me give you a round of aaplause and of course a merit for the post.

GOLD token and Tether USD (USDT) are both stable coins but they are backed by different assets. GOLD token is backed by gold and Tether USD is backed by USD. These two assests have different future. Gold has a limited supply based on available resources on the Earth (if human civilization won't find other planets to mine gold and increase total supply of physical gold). In the very opposite characteristic, USD is inflated by governments globally and USD real value will decrease over time that in turn will do affect real value of Tether USD.

I believe in the future of GOLD token and don't believe in the future of USD and Tether USD.

Dear NeuroticFish,

Now it is better to compare GOLD token with other fiat stablecoins like USDT. They are still direct competitors. During the year, the GOLD token price rose 25% against USDT. Moreover, with the prospect for the next 10 years, it is even scary to think about how much USDT will depreciate in the future,  due to central bank money printing.

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

I guess that he worried about the legitimacy of GOLD token, not about gold price. The website and the white paper have good information for him. If he need something instantly to catch his eyes and attract him to spend more time with GOLD token, there is:
Let's check the legitimacy of GOLD token with the guide given by GOLD_official.

Let's say you bought in 18 June 1000$ worth of Gold token and you'd sell today. You would have earned about 40-45$. In less than a month.
Why that? Because GOLD token price is tied to actual gold's price. As simple as that.

You can find a chart of gold price on international markets here: https://goldprice.org/gold-price-chart.html


And since gold is going mostly up and the fluctuations are not as high as for Bitcoin, gold is considered by many a much safer investment. And GOLD token makes it easier.
Clearer?

I don’t quite understand how profitable it is to invest money through tokens, and not directly buy gold if there is such a goal. What are the benefits of buying your tokens?