I'm not the type that brag but the BM respond should be enough to make you understand that there's possibility limited purchase also on exchange site since the project team cant sell or mint Gold token more than the gold saved in secure vault and to maintain or save the token price from manipulation there most be some kind of restrictions to achieve that.
I didn't mention it because it's obvious, ofc you can't buy more than total supply (be it gold token or other crypto).
What I meant was, one user's buy and sells on exchange/marketplace affect the other users actions. If one buys 100 gm gold with ether then the other user will have less gold tokens to buy.
Thats correct and this is the reason why i strongly believe some restriction will be use on the exchange site either.
Gold token correlates the amount of stored in vault, that should be enough to avoid price manipulation and if someone sells at less than gold's spot price, it's their choice and none of team's or anyone's business.
Yes and no because the price of the token can still be manipulate despite the amount of physical gold saved in vault correlate with minted Gold token.
Meanwhile, it the business of the Gold team make sure the token price is intact with the price of physical gold in other to fulfil their promises per the project.
I would like to know if buying Gold token through the exchange site also have a limited level of purchase per person?
In exchanges, you don't buy gold tokens directly from the exchange. You buy gold tokens from other users of the exchange. So, buying gold tokens through exchanges is the same as buying other tokens. As long as there is a seller at a certain price, you can buy the tokens at that price. Cannot say the exact amount. Because it depends on traders.
I understand that buying Gold token is the same as buying other tokens but I'm asking this question since the project team also offer liquidity support for the buying and selling in other to make the Gold price intact with the price of physical gold so I'm thinking maybe there's some sort of limit on buying/selling of the token on exchange in other to achieve the daily physical gold price.
Ok so I checked on their official marketplace, and this is what it shows.
About 11.5 BTC is the max amount of gold you can buy from there, on exchange it would be different but I'd rather choose official marketplace than an exchange.
But, would like to know if the limited 11BTC is also applicable for exchange because of the upcoming rally market.
I doubt it, that limit is dynamic both on marketplace and exchanges, it depends on buy/sells.
ps: sorry for long quote, it's pain on mobiles to trim.
I'm not the type that brag but the BM respond should be enough to make you understand that there's possibility limited purchase also on exchange site since the project team cant sell or mint Gold token more than the gold saved in secure vault and to maintain or save the token price from manipulation there most be some kind of restrictions to achieve that.
This is one of the gold-backed projects that has real gold in possession. So it is understandable if they have very limited number of gold coins because they depend on what they have. At least we know that they are giving legit numbers here and not just getting from thin air.
You're right because most of the 97% of crypto project which claimed to be backed by Gold never provided their vault certificate or live audit report for verification.
But are they going to be listed in other popular exchanges?
It already listed on some popular exchange site an example bitforex and capital market.
