Topic: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 64. (Read 31865 times)

The same reason that your Bitcoin is not yours unless you own the keys.
Owning a GOLD token is owning an unconvertible gold derivative, it is not owning gold.

Yes, I agree with you because investing in crypto designation as gold will be very easy, in addition to getting easily and selling it quickly, the slain also on the one hand also mitigates the inventory if we store gold bars easily can be stolen Different people with gold tokens only we ourselves can access

This was actually a question that other members are confused about. It was actually answered by the team in the bounty thread. It was a daily fee for holding the token so don't worry because no one is accessing your wallet. https://gold.storage/en/fee

Over centuries, not only recent decades, people think of Gold as their best investment or best means of financial storage. It will last forever, in next centuries. Fortunately, bitcoin was born more than 10 years ago and it has slowly changed the world, and the younger generations surely believe in bitcoin more than in gold. The older generations will pass away gradually and sooner or later bitcoin will dominate the world.

About the GOLD token, it is good and why we should invest in real Gold bars while we already have the GOLD token, that is backed by gold bars. We don't have to storage gold bars by ourselves. Let's invest in GOLD tokens, why not?

everyone thinks that in the future the price of gold will go up, yes, including myself because that is not a few of the people investing their money in gold, but today many people choose to invest in real gold, I don't know what their reasons for save real gold, and some people choose a simple way with the help of crypto they trust this project and risk their money ... that's why this project has to develop widely so that more people choose gold in the form of crypto

Hey wwzsocki,

After all the exchanges, do you have a withdrawal of 0.001 gold next day from your erc20 address. This is such a trifle, but I do simply don't understand why and what for it was taken. On one hand it looks like a commission for sending btc or eth to a customer.  Or something about rate fluctuations.

hey.cool . thanks for this statement . i also think that crypto gold will be worthwhile in the future. more and more people are buying crypto gold. some friends have already bought gold tokens. i think this is a value for the future

Exchange GOLD token to Ethereum (ETH) is faster than moving Ethereum coins from one exchange to another. I am very impressed with the speed of token exchange. Moving coins with Ethereum is fast but moving it between exchanges take a longer waiting time.

GOLD developers have chosen and set up very good fees to ensure very fastly exchange speeds for their customers on GOLD marketplace.

I think you have already got the answers to most of your queries. However, I will address one since I think it hasn't been addressed properly.

Q. Its backed by Gold but how do I cash this out for Gold? Can I send my tokens in for grams or ounces of Gold?
A. You cannot and that's very much reasonable. You see that every GOLD Storage token is backed by equivalent amount of gold in the valet. Currently there is 9,196g of Gold which could be verified on site. So there should be equal amount of GOLD tokens, right? And yes, there are exact 9195.327 tokens currently in circulation which could be verified from here: https://etherscan.io/token/0x0d16450d347c12c086d6c94c76c5aaac35ea07e0 , Now if you convert the token for Gold, it will reduce the supply of gold from valet but the supply of tokens will remain same. This will reduce the value of tokens since there will be more tokens in circulation than the supply of gold in valet. Sooner or later, if everyone starts converting token to gold, gold will dry from the valet. Hence, it is not viable to convert the gold token to physical gold.

Also, you should know that it isn't the shiny physical metal that creates the value of Gold. But the idea that such metal is scarce and precious actually creates the sense of value in the mind of the people. This is the reason why Gold is so much valuable. Gold Token on the other hand is equivalent to the value of gold since equal amount of gold is kept in the valet. Thus, you shouldn't see the Gold Token as token but the gold itself. It is as valuable as physical gold. Holding Gold Token is 100% same as holding physical gold. It has exact same price and high liquidity.

Too long??? It took literally 3 minutes in total!!! Just look at the screen.

It is a really convenient and very easy way to buy, sell or exchange the GOLD token for ETH or BTC.

If you are a real gold investor you should like the Digital Gold project very much and I encourage you to dive into the subject because tokenized gold is the future of gold investments.

Such companies as Tether know exactly what they are doing and what are the crypto market needs, that is why the next product they are now launching is an exact copy of the GOLD token and they aiming at the tokenized gold niche with it .

On the project market place the transaction time span is enough cause it almost an instant payment and what matter most is your own transaction confirmation time.


Inclusion of more coin is a good idea but i dont think adding a centralized coin (XRP) is good opinion which it price can be manipulate at anytime.

Transactions are as fast as possible.
Once your gold tokens deposit receives 12 confirmations, they send you ETH or BTC immediately without any delay. They pay high fees, so the transaction is included in the next block.
All websites and exchanges that accept Ethereum or its tokens, wait for at least 12 confirmations and it's normal. Getting 12 confirmations usually takes about 2 minutes if you pay enough fee.

so far i have only one Krugerrand coin. i bought the 2012. but i think i will invest in crypto gold ( digital gold ) this year.
then i have all three: BTC,Gold and Crypto gold  and i hope that the gold price will double in the next 5 years. that would be great !

I have only known this project for the past few days and if this is a real gold project then I definitely will not ignore it because I am a gold investor. I think if the transaction speed can be improved much more then surely many people will feel better because the waiting time to buy and sell is very long. In my opinion, it is advisable to support some other coins such as XRP or LTC to accelerate transactions.

In addition to, the token was only tradeable on the mentioned exchange site and the project personal marketplace at the moment but there's big chance for the token to be use to claim physical gold in the future.


Aside the verification of bullionstar vault  where the project gold are saved, the project smart contract was also audited by reputable Swiss based blockchain security company ChainSecurity.

You can change gold tokens to ETH and BTC and vice versa using their marketplace. (Visit the link below)
https://gold.storage/en/market

It's very easy to use. Everything is done automatically.
You can also trade gold tokens in Catex, Coinsbit, Cryptex, Livecoin, and Bitforex exchanges.



Physical golds are stored in BullionStar's vaults. You can verify this using the link below.
https://www.bullionstar.com/myaccount/audit

(Their account number is 17081)

Its backed by Gold but how do I cash this out for Gold? Can I send my tokens in for grams or ounces of Gold? Who stores the Gold? What country is allowing this and what protections are provided?

Seems that you don't know exactly how transaction fee is calculated.

Gwei is the unit of smallest amount of Ethereum. 1 Gwei = 10^-9 Ethereum.

The transaction fee is calculated as follows:

Fee = Gas price * Amount of used gas

That 120000 which you are talking about is not gas price. That's amount of gas (or gas limit)

The gas price can be even 0.1 Gwei
Higher the gas price is, faster your transaction is confirmed.

The gas amount has nothing with transaction speed.
When you send Ethereum, you need to spend 21,000 gas. When you send tokens, higher amount of gas is needed.
Even if you use an amount of gas more than needed, you won't lose anything. The unspent gas will be sent back to your wallet. So I recommend you to use big amounts for gas limit and don't worry about the fee. The extra amount will return to your wallet.

For example, as etherscan shows, only 101,687 gas out of 120,033 gas has been used and the remaining gas has been sent back to your wallet.
In this transaction, gas price (which determines the transaction speed and fee) is 8 Gwei.

Never worry about gas limit. Because the unspent gas will return to your wallet.

For gas price use the link below
https://ethgasstation.info/

Note that the transaction speed and fee you spend only depends on gas price and has nothing to do with gas limit. That 120000 is gas limit and no matter even if it is higher. It won't cause the transaction fee to be higher.

Now i understand what you guys are talking about concern the high fees and i want you to know that the problem could be from Metamask ending cause i experienced the samething when sending others token either but I'm using myether now accessing my wallet through web extension (Metamask)..
I will advise you to try it out.
Note : i sent 5.869Gold token with $0.05

Can you tell me which wallet you have used or some other insights?

I am also experienced in ETH transactions and wasn't able to send 6,50 GOLD tokens to the Digital Gold Marketplace for less than 120000 Gwei.
I tried 2 times and had to finally send it with such a high amount because I got the message "not enough gas" which was true because gas was fully used.

Here you can see the first failed transaction: 0x3601c7ebb56559e762b01f0a32abbf4923a093074aa52f377a76003322ec6791

After this one, I mistakenly have sent 0 GOLD with this same gas amount and it succeeds: 0x69c6c8a3ffa684c589684fd0b2d9b4b08cc997df89d1ce80123433f299f77767

And here I have sent 6,5 GOLD with much higher amount of gas and was finally successful: 0x364e69246be17b08bf085f3f8c3aa3af04e30be3710b73b3e7a99dcd4799783c

I have to say that this isn't the first time it happens to me because I have always the low amount of gas in my wallet settings and always the first transaction is rejected because of too low gas despite it should be high enough with ease. This is why I am curious how you are exactly doing this?

I am using Metamask with adjusted settings.