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Topic: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 58. (Read 31858 times)

legendary
Activity: 2380
Merit: 5213
1. If I’m not mistaken, a Legendary forum member has already sent a request to Chainsecurity. After that, he received the response confirming the company audit. You can look through the thread to find that post.

Here is the post made by libert19 regarding the email sent to Chainsecurity.


copper member
Activity: 676
Merit: 181
I am not so sure if anyone have asked this question before :
You said Chainsecurity audited your smart contract, you even provided the details of their report in a pdf file. But no where online is there to confirm it not even on chainsecurity website, I have sent an email to them for confirmation no reply yet. But can you give us proof that the document is actually from Chainsecurity? Any online or official confirmation link from them?

2. I have made my research and confirmed that you actually have 19000+g of gold in the bullionstar vault,  this is great. How do people who purchase your tokens confirm that they are true owners of the physical portion of the gold in your care? Any legal documents in case? These are things that settles the mind of the holders.

3. Your stablecoin looks like securities... Any word or confirmation from SEC?
Edit: I'll continue to check this space for answers

1. If I’m not mistaken, a Legendary forum member has already sent a request to Chainsecurity. After that, he received the response confirming the company audit. You can look through the thread to find that post.

2. No. The GOLD token buyers are not owners of physical gold. Buyers own only GOLD tokens. Digital GOLD bought gold and store in in the BullionStar Vault. 1 token equals 1 physical gold gram.

3. The GOLD token is a stablecoin, just like USDT. Our token backed by physical gold in a secure BullionStar vault, USDT token backed by US dollar in a bank account.

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

legendary
Activity: 2156
Merit: 1622
Top-tier crypto casino and sportsbook
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.

You are right. Chart is not what i should look at. Your calculation is much more accurate but it still looks like you can buy GOLD token with 4% discount over the bulionstar price. If its because of boulding supply much earlier when gold was cheaper than it's very nice of GOLD team that they share their profit from good trade with investors - because that's what it is.

2. I have made my research and confirmed that you actually have 19000+g of gold in the bullionstar vault,  this is great. How do people who purchase your tokens confirm that they are true owners of the physical portion of the gold in your care? Any legal documents in case? These are things that settles the mind of the holders.

Fair point. That's what i'm also concerned about.
copper member
Activity: 617
Merit: 3
The wonders of the blockchain technology
I am not so sure if anyone have asked this question before :
You said Chainsecurity audited your smart contract, you even provided the details of their report in a pdf file. But no where online is there to confirm it not even on chainsecurity website, I have sent an email to them for confirmation no reply yet. But can you give us proof that the document is actually from Chainsecurity? Any online or official confirmation link from them?

2. I have made my research and confirmed that you actually have 19000+g of gold in the bullionstar vault,  this is great. How do people who purchase your tokens confirm that they are true owners of the physical portion of the gold in your care? Any legal documents in case? These are things that settles the mind of the holders.

3. Your stablecoin looks like securities... Any word or confirmation from SEC?
Edit: I'll continue to check this space for answers
copper member
Activity: 676
Merit: 181
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.

Dear hosseinimr93,

Indeed, we have no problems with the gold supply, since the gold was bought long time ago and it is in the Bullion Star vault https://www.bullionstar.com/myaccount/audit . And, indeed, the price of physical gold is now much higher than the price of paper in the spot market (but this is a big secret that all the World Central Banks are trying to keep). Roughly speaking, there is a price for futures and ETFs traded on ordinary exchanges, but there is no real gold. If futures buyers demand a real supply of gold, then the price can go higher by 3-5 times. This is the difference with Digital Gold. We have all the tokens backed by 100% physical gold owned by our company.

Regards,
Support Team @ Digital Gold
https://gold.storage
hero member
Activity: 1834
Merit: 566
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.
legendary
Activity: 2380
Merit: 5213
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.
legendary
Activity: 3668
Merit: 6382
Looking for campaign manager? Contact icopress!
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.
legendary
Activity: 2156
Merit: 1622
Top-tier crypto casino and sportsbook
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
legendary
Activity: 3668
Merit: 6382
Looking for campaign manager? Contact icopress!
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.

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.
legendary
Activity: 2156
Merit: 1622
Top-tier crypto casino and sportsbook
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.
hero member
Activity: 1834
Merit: 566
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.


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.
hero member
Activity: 2366
Merit: 838
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.
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.
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.
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.

hero member
Activity: 1834
Merit: 566
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.
legendary
Activity: 2380
Merit: 5213
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.
copper member
Activity: 676
Merit: 181
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
legendary
Activity: 1918
Merit: 1759
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.
legendary
Activity: 2744
Merit: 1708
First 100% Liquid Stablecoin Backed by Gold
The Gold token has decide to reveal someone of their team and i hope this will answer the question asked by some people.
 Smiley



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.
legendary
Activity: 1344
Merit: 1001
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?
legendary
Activity: 2380
Merit: 5213
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.

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