[ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 58.

hulla

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Quote from: hosseinimr93 on March 31, 2020, 05:13:39 AM

Quote from: Tytanowy Janusz on March 31, 2020, 01:18:14 AM

Has gold token team any issue with access to physical gold currently? Is this shortage real or just fake news (who would know it better if not GOLD token team?).

Currently 19,200 gram of gold is stored in Bullionstar vault of Digital Gold and total supply of GOLD tokens is 17,200.
So, Physical gold bought and stored is even more than tokens circulating in the market. Therefore, there shouldn't be any problem.
2000 more tokens can be generated without any need to buy more physical gold. Because they have already been bought.

When the project started, 7200 gram of gold were bought and stored in the vault. They bought more gold gradually and now 19,200 gram of gold is stored in the vault.
They buy physical gold before it is needed and before the demand exceeds supply.

Well explained buddy.
@Tytanowy Janusz, the gold token teams are well experienced in the line of economic, IT technology, wealth management etc which is the reason why they have extra 2000 gold bars in possession which will be used during the season of gold bars shortages. Besides, a project that have Walter Tonetto and Paul Scott as an adviser will never go wrong.

hosseinimr93

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Quote from: Tytanowy Janusz on March 31, 2020, 01:18:14 AM

Has gold token team any issue with access to physical gold currently? Is this shortage real or just fake news (who would know it better if not GOLD token team?).

Currently 19,200 gram of gold is stored in Bullionstar vault of Digital Gold and total supply of GOLD tokens is 17,200.
So, Physical gold bought and stored is even more than tokens circulating in the market. Therefore, there shouldn't be any problem.
2000 more tokens can be generated without any need to buy more physical gold. Because they have already been bought.

When the project started, 7200 gram of gold were bought and stored in the vault. They bought more gold gradually and now 19,200 gram of gold is stored in the vault.
They buy physical gold before it is needed and before the demand exceeds supply.

NeuroticFish

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Quote from: Tytanowy Janusz on March 31, 2020, 03:10:19 AM

1g of gold in goldtoken is equal to 51,95$ - based on this chart

I'd go by the buy prices of GOLD and Bitcoin; it could be more accurate since the graph may be a median. (That's something only GOLD team can tell).
So if I buy 1 GOLD for bitcoin at the official marketplace it costs 0.00820182BTC, which means about 53.02 USD.
A bit bigger than 51.95. And I guess that the market will adjust in time.

Tytanowy Janusz

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Quote from: NeuroticFish on March 31, 2020, 03:01:01 AM

From what I know GOLD team is buying 100g gold bars, which are still available for sale there. So I see no issues.

1g of gold in futures is equal to 51,95$
1g of gold bulionstar is equal to 55,85$ (https://www.bullionstar.com/buy/gold-bars - 5585 /100)

That's what i'm talking about. 7.5% spread.

1g of gold in goldtoken is equal to 51,95$ - based on this chart

https://gold.storage/pl/market

NeuroticFish

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From what I know GOLD team is working with bullionstar.com. Although they also face certain problems with the supply, they wrote that the availability info on the website is up-to-date.

Quote from: https://www.bullionstar.com/blogs/bullionstar/bullionstar-important-update-27-march-2020/

We have prepared for the calamities on the financial markets and in the monetary system for many years and have planned and structured our company accordingly. At the first signs of the imminent shortages, we were decisive and aggressive in increasing our stock levels for precious metals.

We only sell metals we have in stock or metals which are purchased by us, produced by the supplier and on route to us. You can view the . All metals indicated as “In Stock" are available for immediate release/delivery.

From what I know GOLD team is buying 100g gold bars, which are still available for sale there. So I see no issues.

Tytanowy Janusz

legendary

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Based on various sources we are currently in Gold Bullion Shortage - "when the physical bullion market's available bullion supply for sale and immediate delivery is unable to sufficiently meet the investing public's demand".
(f.e Traders have reported a growing global shortage of gold bars). If Gold token is backed by physical gold are there any restrictions or limits to buy Gold token now? Has gold token team any issue with access to physical gold currently? Is this shortage real or just fake news (who would know it better if not GOLD token team?).

As I know price of phisical gold is even up to 10-20% higher than futures price currently and you need to qait up to 8 weeks for delivery. As I can see Gold token price is still very close to futures price.

hulla

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Quote from: tbct_mt2 on March 28, 2020, 08:13:53 PM

Quote from: wwzsocki on March 27, 2020, 07:36:20 PM

I think next year will be great for the GOLD token because there is a big need for real gold and I am sure that the prian ce will continue to rise.

It is good for now that GOLD tokens can be exchanged without any KYC. I hope it will last forever.

Yes, it will last forever mate because aside from the implementation of genuine liquidity stablecoin, the ease of investing in gold and buying it anonymously is one of the major concepts of this project.

Quote from: tbct_mt2 on March 28, 2020, 08:13:53 PM

Quote from: webtricks on March 28, 2020, 09:24:04 AM

Undoubtedly. Gold prices are on upward trend and several investors I know are eager to add gold in their portfolios. However, other means of gold investment such as bhas or gold ETF are very stringent from KYC point of view and time-consuming. But Digital Gold have solved this problem and provide the gold ownership in most secure as well as private way. No doubt, Digital Gold buying volume will rise many folds this year.

As far as I know, KYC requirements depend not only on companies' owners but also on local law regulations. So if your local governments change their policies, maybe the platform will must require KYCs on customers. Of course, I hope it will be not what will happen in the near future.

You are correct but as far as i understand things like that will never change in the future, except if more restriction will be added. Mind you, gold will be scarce in the future.

tbct_mt2

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There are huge things to be solve over the globe after the pandemic disappears. There are many issues, from economical to public health and communities to help the whole world back to normal life. It will play important role to boost the price of GOLD next one or two years.

Quote from: wwzsocki on March 27, 2020, 07:36:20 PM

I think next year will be great for the GOLD token because there is a big need for real gold and I am sure that the price will continue to rise.

It is good for now that GOLD tokens can be exchanged without any KYC. I hope it will last forever.

Quote from: webtricks on March 28, 2020, 09:24:04 AM

Undoubtedly. Gold prices are on upward trend and several investors I know are eager to add gold in their portfolios. However, other means of gold investment such as bonds or gold ETF are very stringent from KYC point of view and time-consuming. But Digital Gold have solved this problem and provide the gold ownership in most secure as well as private way. No doubt, Digital Gold buying volume will rise many folds this year.

As far as I know, KYC requirements depend not only on companies' owners but also on local law regulations. So if your local governments change their policies, maybe the platform will must require KYCs on customers. Of course, I hope it will be not what will happen in the near future.

Quote from: GOLD_official on March 28, 2020, 03:40:39 PM

Our company always wanted people to hold and trade gold without any restrictions. This is the way how tokenization should work. Therefore, we did not apply KYC methods and other methods of identification.

hulla

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Quote from: webtricks on March 28, 2020, 09:24:04 AM

Quote from: wwzsocki on March 27, 2020, 07:36:20 PM

I think next year will be great for the GOLD token because there is a big need for real gold and I am sure that the price will continue to rise.

Undoubtedly. Gold prices are on upward trend and several investors I know are eager to add gold in their portfolios. However, other means of gold investment such as bonds or gold ETF are very stringent from KYC point of view and time-consuming. But Digital Gold have solved this problem and provide the gold ownership in most secure as well as private way. No doubt, Digital Gold buying volume will rise many folds this year.

Your presumption about the project rise in many folds this year is right because the trade volume of the project simultaneously increases every week despite the current pandemics which i believe was due to people understanding these days the features a genuine stablecoin ought to posse.

hosseinimr93

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Quote from: mr_random on March 27, 2020, 06:45:12 PM

Till today, I don't understand why the average people become a victim if there are other alternatives for doing the same investment. The GOLD CFD in Metatrader is a widely used financial tool for trading and smart traders can make money with the increasing value of GOLD. Why believe in the new project and ignore the old methods?

Your question is like asking why we need bitcoin while Fiat is accepted everywhere.

People can use gold tokens to be able to trade it with other cryptocurrencies very fast. You can exchange your bitcoin to Gold tokens when you think bitcoin will fall and exchange them again to bitcoin in few seconds whenever you want.
As I already said, one of another advantages of having gold in form of a cryptocurrency is that you won't have to pass identity verification. Your privacy is protected and you won't risk to give your personal documents to third parties.

GOLD_official

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Quote from: webtricks on March 28, 2020, 09:24:04 AM

Quote from: wwzsocki on March 27, 2020, 07:36:20 PM

I think next year will be great for the GOLD token because there is a big need for real gold and I am sure that the price will continue to rise.

Undoubtedly. Gold prices are on upward trend and several investors I know are eager to add gold in their portfolios. However, other means of gold investment such as bonds or gold ETF are very stringent from KYC point of view and time-consuming. But Digital Gold have solved this problem and provide the gold ownership in most secure as well as private way. No doubt, Digital Gold buying volume will rise many folds this year.

Dear webtriks,

Our company always wanted people to hold and trade gold without any restrictions. This is the way how tokenization should work. Therefore, we did not apply KYC methods and other methods of identification.

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

webtricks

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Quote from: wwzsocki on March 27, 2020, 07:36:20 PM

I think next year will be great for the GOLD token because there is a big need for real gold and I am sure that the price will continue to rise.

Undoubtedly. Gold prices are on upward trend and several investors I know are eager to add gold in their portfolios. However, other means of gold investment such as bonds or gold ETF are very stringent from KYC point of view and time-consuming. But Digital Gold have solved this problem and provide the gold ownership in most secure as well as private way. No doubt, Digital Gold buying volume will rise many folds this year.

wwzsocki

legendary

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First 100% Liquid Stablecoin Backed by Gold

Quote from: hulla on March 17, 2020, 05:21:44 PM

The Gold token has decide to reveal someone of their team and i hope this will answer the question asked by some people.

This is indeed great news because we all know that there were doubts related to the anonymous team of Digital Gold project.

Despite that only advisors are reveled this is a good step in the right direction.

I think next year will be great for the GOLD token because there is a big need for real gold and I am sure that the price will continue to rise.

mr_random

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Quote from: hosseinimr93 on March 25, 2020, 07:46:40 PM

Quote from: STT on March 24, 2020, 05:11:27 PM

Is anyone on this thread aware of Goldmoney and that large company used to allow the transfer of gold grams between users.

I had never heard of them. But I just searched for them through Google and visited their website.
In my opinion, there isn't any big advantage in buying gold through such websites.

One of the biggest advantages of Digital Gold over them is lack of identity verification.
I will never trust such websites with my personal documents.

Till today, I don't understand why the average people become a victim if there are other alternatives for doing the same investment. The GOLD CFD in Metatrader is a widely used financial tool for trading and smart traders can make money with the increasing value of GOLD. Why believe in the new project and ignore the old methods?

hosseinimr93

legendary

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Quote from: STT on March 24, 2020, 05:11:27 PM

Is anyone on this thread aware of Goldmoney and that large company used to allow the transfer of gold grams between users.

I had never heard of them. But I just searched for them through Google and visited their website.
In my opinion, there isn't any big advantage in buying gold through such websites.

One of the biggest advantages of Digital Gold over them is lack of identity verification.
I will never trust such websites with my personal documents.

hulla

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Quote from: GOLD_official on March 24, 2020, 02:52:14 PM

Quote from: hulla on March 24, 2020, 03:03:35 AM

Quote from: necromastery on March 23, 2020, 05:51:49 PM

Quote from: hulla on March 17, 2020, 05:21:44 PM

The Gold token has decide to reveal someone of their team and i hope this will answer the question asked by some people.

This is avoid gold storage from projects that have anonymous developers, at least like that, and also this is certainly very meaningful to treat the questions of many people, now everything has been answered, I don't think there will be any other doubts about this project.

You're right with what you said but we shouldn't blame some investors not trusting project that have anonymous team because some project that doesn't have anonymous team have scam investors (an example karatcoin etc) before and with every question been answered now more people will trust this project.
BM, please add the team information to the project page.

Dear Hulla,

We answered that question some months ago. Right now the devs are the Digital Gold investors and we can't reveal their information.

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

Yes of course and I'm total aware of the situation cause I'm among this project follower, enthusiast right when the bounty start but i was actually talking about the two advisors not the Dev.

Quote from: STT on March 24, 2020, 05:11:27 PM

Is anyone on this thread aware of Goldmoney and that large company used to allow the transfer of gold grams between users. It wasnt exactly related to crypto but allowed the payment of BTC and various alt coins to be used. However they shut down the business to all but the very largest holders with high minimum fees charged because of large amounts of red tape making the handling of gold for small customers unfeasible.

I'm only aware of egold project which was the most used electronic payment back in the year 2004-2008 if i could remember correctly before it was shut down and led to alot of people lost.
I googling the name you mentioned but i find a site that goes with the name and it seem to be operating and don't support crypto payment.

Quote from: STT on March 24, 2020, 05:11:27 PM

Their failure elevates the prospects for alternatives like this and I hope this project is alot more successful as gold will be vital to even the ordinary citizen over the next years as we witness how QE plays out and unwinds into inflation.

Thats correct and if you check most current precious metal back project none of them truly open up their gold assets as this project does.

STT

legendary

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Is anyone on this thread aware of Goldmoney and that large company used to allow the transfer of gold grams between users. It wasnt exactly related to crypto but allowed the payment of BTC and various alt coins to be used. However they shut down the business to all but the very largest holders with high minimum fees charged because of large amounts of red tape making the handling of gold for small customers unfeasible.
Their failure elevates the prospects for alternatives like this and I hope this project is alot more successful as gold will be vital to even the ordinary citizen over the next years as we witness how QE plays out and unwinds into inflation.

GOLD_official

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Activity: 676

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Quote from: hulla on March 24, 2020, 03:03:35 AM

Quote from: necromastery on March 23, 2020, 05:51:49 PM

Quote from: hulla on March 17, 2020, 05:21:44 PM

The Gold token has decide to reveal someone of their team and i hope this will answer the question asked by some people.

This is avoid gold storage from projects that have anonymous developers, at least like that, and also this is certainly very meaningful to treat the questions of many people, now everything has been answered, I don't think there will be any other doubts about this project.

You're right with what you said but we shouldn't blame some investors not trusting project that have anonymous team because some project that doesn't have anonymous team have scam investors (an example karatcoin etc) before and with every question been answered now more people will trust this project.
BM, please add the team information to the project page.

Dear Hulla,

We answered that question some months ago. Right now the devs are the Digital Gold investors and we can't reveal their information.

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

hulla

hero member

Activity: 1834

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Quote from: necromastery on March 23, 2020, 05:51:49 PM

Quote from: hulla on March 17, 2020, 05:21:44 PM

The Gold token has decide to reveal someone of their team and i hope this will answer the question asked by some people.

This is avoid gold storage from projects that have anonymous developers, at least like that, and also this is certainly very meaningful to treat the questions of many people, now everything has been answered, I don't think there will be any other doubts about this project.

You're right with what you said but we shouldn't blame some investors not trusting project that have anonymous team because some project that doesn't have anonymous team have scam investors (an example karatcoin etc) before and with every question been answered now more people will trust this project.
BM, please add the team information to the project page.

necromastery

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Quote from: hulla on March 17, 2020, 05:21:44 PM

The Gold token has decide to reveal someone of their team and i hope this will answer the question asked by some people.

This is avoid gold storage from projects that have anonymous developers, at least like that, and also this is certainly very meaningful to treat the questions of many people, now everything has been answered, I don't think there will be any other doubts about this project.

Topic: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 58. (Read 31626 times)