Topic: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 48. (Read 31850 times)

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?

Dear nicko122,

You can find many different posts in this thread about our project. By the way, you can read the whitepaper https://gold.storage/wp/White_paper_en.pdf where we wrote all our advantages.

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

Tokens backed by gold should be very reliable, so this project should be of interest to many people, including people of the old school. Can you tell what makes your project reliable?

Ethereum is kinda bad too, currently it's like 25c but around a week ago you you had to a buck or two for fast transaction, and remember its hovering around $200 right now, if it were on ath the same fees would $6-$8, it's not good. I had hopes for eos but after that RAM fiasco, i find it trash now lol

I store all my ERC-20 tokens (which I hodl) in an offline wallet, which I created personally and especially for GOLD tokens purpose and use it as a vault.
I have private keys stored in 3 safe places and only me and my closest family know about them.

I store all cryptocurrencies and tokens like this and was never hacked so far. Of course, you can check Ledger Nano because this wallet is known to be good and safe, but after latest news about the Trezor wallet, I am skeptical about all of them. I have read an article yesterday, that Kraken Labs researchers were able to hack into Trezor wallet in fifteen minutes. This is just insane and until not proven that these wallets are completely safe, I will keep my coins and tokens in offline paper wallets.


If somebody wants to read more about this hack, here is link to full article: https://bithub.pl/wiadomosci/trezor-nie-jest-bezpieczny-badacze-zlamali-zabezpieczenia-w-kilka-minut/

where do you store your gold tokens ? is there a good wallet ? or does it work with the ledger nano s and with the myetherwallet

Haha, transaction fee has never been a boring story. Honestly guys, this week, two or four days ago, I moved my funds from Binance, and to be honest I noticed the transaction fees to move a same amount of fund in BTC is nearly 4 or 5 fold compares to the fees for moving it as USDT on ERC20 (not OMNI, of course).

Bitcoin is the King in crypto, I totally agree and I won't start a discussion about it. It is the truth so there is no demand to prove it. The longer time you spend in crypto, the more solidly perception on that you will have. Nevertheless, when you want to move your funds, bitcoin should not be your first priority.

Reasons: Bitcoin block time is about 10 minutes per block and most of platforms often require 3 confirmations to credit to your account balance. So if you move your funds in bitcoin, when transaction fee is low, and your fee is set up at good rate, your balance will be credited after 30 minutes in perfect condition. If not, you will have to wait longer.

In such cases, let choose other cryptocurrencies. Fortunately, on GOLD marketplace, we have Ethereum. It will be a pleasure to have USDT in the future but I worry about conflict of interests. 

Are you talking about the BTC network congestion and many unconfirmed transactions that are waiting in the mempool queue or about the latest problem on the Digital Golg marketplace itself?

As we can see they are already working on this problem and with the clogged BTC network not much can be done TBH. The only way is to send transaction with a lot bigger fee or to use ETH instead.
I always try to use ETH on the Digital Gold market because is faster, cheaper and I have never waited more than a few minutes and I did already dozens if not hundreds of transactions there.

Of course, if you only have BTC in your wallet, then there is not much you can do in such situation. I would advise checking the BTC network before sending transaction.
https://jochen-hoenicke.de/queue/#0,4d

Instant Exchange / Marketplace Digital GOLD makes it easy to make purchases and sales of GOLD tokens instantly and very quickly. Fee is also very reasonable and not too expensive. Starting from first receiving the GOLD token from my signature campaign, I have never used another Exchange, I only used the Marketplace at Gold.storage.
While using the Gold marketplace, there is only one problem with the BTC payment getting bigger, resulting in a delay of several hours of payment. But now it has started to return to normal.

I keep accumulating all my GOLD tokens and even buy slowly more because I am almost sure that the gold price will go rapidly up again very soon.

The price of gold keeps rising slowly and from every corner, I keep hearing bad news about the coming crisis and I thought that there was already one not so long ago when everything lost almost 50%? Despite all printers are working on full speed to pump FIAT into the market from all countries at the same time, almost all economists keep repeating that this was only the start and the big correction will come next. If they are right then gold price should spike again when the sale off on markets begins, that is why I feel better holding GOLD tokens than any other crypto right now.

Not only there is no roller-coaster every day, but also the price of the GOLD token keeps rising frequently.

Kinda accurate, when I came across this project it looked shady idk why may be the thread representation wasn't a quality, and it put me off. Still gave a try because of lack of good campaigns and this was paying in stable coin (better than gambling in ICO campaigns), thought to myself, if it turns of well then good otherwise well one month for learning lol.

You're correct and I'm the few that joined the campaign at the early stage and never leave because i seems to have some little knowledge in selecting genuine bounty campaign. However, what captivated about this project that we have never see a previous stablecoin bounty campaign this forum so i choose to join the race then.

I have sent mine once i saw the message and it will be an awesome decision we all do the same.

The anniversary of Gold Token, since the Announcement was made here is now less than 96 hours (4 days)
What's the most exciting thing you have noticed about Gold Token as compared to Other tokens out there

For me;
- The inbuilt instant exchange/Marketplace
- The price of the token is always pegged to that of Gold regardless of the market conditions. I have seen some tokens pegged to gold price dump in price after a few months