Topic: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 65. (Read 31865 times)

The fee they pay for Ethereum transactions is also much high.
I also made an exchange today. I converted my gold tokens to Ethereum. Everything was fine and went smoothly.
The gas they spent for sending me Ethereum was 20 Gwei while there was no need to pay that much.
For sending gold tokens the gas I spent was only 1.6 Gwei. My transaction was confirmed in less than 10 seconds.

Yes, the factors are to maintain the price of GOLD/USD which is thevreason why the project team provided liquidity in each exchange where the token is listed through the act of buying and selling of GOLD tokens base on the price of physical one gram of gold.

Although this may be answered previously but I would like to know how GOLD token maintains its value similar to gold price. For example, on Bitforex the current price of GOLD/BTC pair is around 0.005 which is roughly equals to current USD value of 1g of gold i.e. $50.40. Why doesn't this price deviate significantly from gold price? Which factor is maintaining correlation between GOLD/BTC on Bitforex and gold/usd in physical market?

I've also done a small exchange (GOLD->BTC) and I was surprised by the big network fee they have been paying. Quite a waste imho. I think that something may not be well calculated/fine-tuned in the GOLD marketplace.



I was just thinking about this GOLD project and something interesting has occurred to me: real gold doesn't even have to begin to rally. Not yet. After everybody will recognizes this as a fair project, as soon as Bitcoin next FOMO bubble will begin to pop, this will be a wonderful backup for a store of value.

Another very fast and successful transaction in the Digital Gold Marketplace, it took literally 5 minutes and only because transactions on Ethereum blockchain are taking so long.

The time should be also improved when Ethereum will be finally POS mined and scalability problems resolved.

Then GOLD token transactions could be even nearly instant, how cool is that?



This is such a super-easy way to buy, sell and exchange GOLD token that it should attract many people to invest in tokenized gold.

I am sure that we will see a significant spike in GOLD token usage when the real gold begins to rally again.

I think there is probably something about implementing segwit support especially for exchanges. In the past i have seen even popular platforms and wallets take a lot of time before rolling out the segwit support. So, I know it may take some time but its positive news that they are working on it 

It good to hear that but it will be nice if you guys could that done asap because I'm not the first person to have complained about the problem and if you guys could get it to fix it may boost the project traffic before the bullish market.

Dear suzanne5223,

Now we are working on adding this type of wallet to our marketplace. We will announce that update when it will be ready.

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

It does not yet, I just tried to make a transaction from gold to BTC, it doesn't recognize bc1 address.

Trying to prepare myself for some market correction that may occur before the bull run market totally take over the market but i would like to know from you guys or the Gold token BM if the Gold token marketplace now recognize "bc1" as bitcoin wallet?

I knew they couldnt provided audit fund which the project was backed and this are the reason why they are sued by the Attorney General for defraud their customers. But their claim was USDT is back by $1 which is also the only way i can make people understand my message.


Youre right buddy and this project is a self funding project with no ICO,IEO,public or private sales. Besides, if you check all self funding project in the crypto market you'll see that they are for real.
They definitely be honest/transparent forever

Check your PM please.

Dear bakasabo,

The overall Coinmarketcap rating is calculated by market capitalization. However, specifically for the GOLD token, it was not compiled correctly, which is reflected on the page itself https://coinmarketcap.com/currencies/digital-gold/ With the total number of 9196 issued GOLD tokens , only 3551 GOLD tokens are used to calculate the market capitalization. We also remind you that there is no problem to mint 10,000 or 100,000 tokens, as dozens of projects have done before us. Digital Gold only mint token to the market, which are 100% backed by physical gold stored under audit in the BullionStar vault. Initially, we issued 7200 GOLD tokens. After some of them were used by investors, we bought more gold bars and minted 2000 GOLD tokens more.

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

To confirm what wwzsocki is talking about - take a look on a daily trading volume. Its almost $11 millions. The GOLD tokens is in top100 by daily trading volume among all the tokens and coins on coinmarketcap. This is amazing how token that is in 1353 place in overall ranking does 0.01% of a daily trading volume among all the cryptocurrency.

I agree with you that in such a project there is no other way for Digital Gold to establish trust with clients as to be transparent as possible and that is what they actually do with all available information about the audits and exact numbers of stored gold in the vault.

I see Digital Gold is making good progress and many people already know about the GOLD token. Additionally, they try to provide more security using really good and recognized companies to cooperate with, of course, I am talking about BullionStar, as a vault service because it is widely recognized on the market and has a very good reputation. One can be 100% sure that the numbers provided in BullionStar audits are fully transparent and real.

This is important because the Tether (USDT) case shows us, that there are multiple ways to fake audits, even on such scale as they did, which is billions.
There were multiple checkings, audits, and everything seemed to be ok, until finally, authorities checked properly bank accounts   and how much money is actually there?
As we all know, not too much, but this is the problem that Tether worked with not known audit services, with no reputation and almost no history behind them and now we know why.
They even could set up such service using friends and connections only to be "audited" and able to print billions from the air, to some extent brilliant. This guy is now one of the reachest people in the world, only in a couple of years. 
                                                                                                                                                                                               

Actually, this is one of the gold-backed projects that seemed to be authentic and following the number of their gold assets. As you can see, they are not giving you large numbers as compared to other gold-related projects. And you can also verify their assets. Hopefully, they will stay that way, being transparent and honest with their gold holdings.

Each gold token is equal to one gram of gold.
Now the circulation supply is 9200 tokens. This can be verified via Ethereum explorer. (Visit the link below).
https://etherscan.io/token/0x0d16450d347c12c086d6c94c76c5aaac35ea07e0

As the explorer shows, no more tokens have been created.

The physical gold is stored in BullionStar's vaults. You can use the link below to verify number of 100 gram gold cast bars owned by Digital Gold.
https://www.bullionstar.com/myaccount/audit

The account number of digital gold is 17081.
Enter 17081 and click on search button.
You will see that digital gold own 92 bars.

Therefore there are 9200 gram physical gold that back 9200 gold tokens.

Dear EscTel,

Our token listed on Catex, Coinsbit, Cryptex, Livecoin, and Bitforex. Of cource you can change GOLD token using our marketplace https://gold.storage/en/market. The value of the GOLD token is straight to the gold market. You can check the price in the marketplace or other exchanges.

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

On which exchange this coin is listed and wts the current value of this coin? How can we be sure that every coin is backed by Gold. Will be grateful if you can provide the answers.

If you do day trade this should usually not be a problem.
But gold backed coins are not necessarily for day trading. Their better use is holding, on the premise that gold is bound to rise.
And if a gold backed coin is actually not backed (as I expect from Tether), the holders may face an ugly surprise at some point sooner or later.