Topic: Are there any Altcoins out there backed by real assets? - page 2. (Read 689 times)

Be careful in finding the right project backed by an asset. Cause sometimes there are projects that are not licensed nor backed by an asset by claiming to be an Asset Backed Token(ABT). But this kind of concept is very amazing, imagine all assets in the world being tokenized. 5 to 10 years from now we may have seen that.

I have recently heard that Paxos will create a gold-backed coin, I am not fully informed about the project, but I believe that PAX is reliable.
Besides, this article is right for you, at the end there are sequence that can attract your attention: https://cryptodigestnews.com/gold-backed-cryptocurrencies-everything-you-need-to-know-c71c1c00fa38
I recommend read entire article, you will learn many things about this theme: https://cryptosis.io/asset-backed-cryptocurrency/

There are quite a few of altcoins backed by physical real assets.  You just have to spend some time researching and reading about altcoins to identify them and check for how true they are.  Once you do that, you can personally identify what will be good and best suit your investment plans.

These are all BS and you ‘youts’ know it.

I thought that you have forgotten the meant of legal tender.
The government and regulation make it becomes a real thing even without backed by a commodity like gold. But the regulators who are issuing it and backed it with their own regulation.

Money and gold are different things and remember when the gold era was replaced by fiat standard as the main payment system.

Unclear on what the catalyst could be, if anything news-wise, but cryptos are collapsing across the board with altcoins leading the plunge...

Bitcoin’s network hash rate dipped a record 40% yesterday, Sept. 23, in a sudden shock for the network.

On the matter of 'seeing' and/or auditing the assets that are claimed to be backing, or better yet, the core value behind the method of exchange (MOE), I can think of a number of different system configurations whereby any participant with a web-enabled device could see with their own eyes 7/24, every aspect of operations from input to output to experience outcome. In fact, I have installed a number of these systems in the companies I have bought, sold and started over the years.

One example was a business a few years back that was bought mere weeks before planned bankruptcy filing. The biggest factor to the enterprise's sad condition was loss directly attributable to shrinkage/theft. I installed a simple, relatively inexpensive (in fact it paid for itself within about 72 hours) audio/video surveillance system throughout the production plant and its satellite operations.

Set a video conference up along with a catered lunch for the employees remaining. The gist of the conversation, was telling them what they already knew, that shrinkage and theft were stealing their jobs...explained how the system worked and how it would be used to turn the business profitable again, securing their jobs, enabling good pay raises and other benefits. After implementation, the company experienced the most profitable quarter in its 7+ years in business. 

Blockchain or digital ledger technology can be utilized for the very purpose of authentication, transparency in all transactions, whether they be payables, receivables, or any other element of operations for all to see. This is the missing mechanism whereby true price/value discovery can be made at any moment in any transaction without the FUD factor. This stops volatility in its tracks. Fungibility and utility, as well as network and scaling effects, are real, sustainable, and the sound foundation of an appreciating, highly valued and sought-after method of exchange (MOE).

A native Tor browser would do all of the above and much more and is available off the shelf, re-inventing the wheel isn't what I'm looking for or proposing here. In my 3+ years of researching these issues and more than 30 years of operations experience reveals to me that the right team with the right balance, both in breadth and depth of experience, has simply not been put together to produce even one project that successfully combines all of the elements necessary for the project to go from ICO to Apex-class competitor.

Newbie ramblings again....

I have searched for such projects a lot and you can find plenty of them, but unfortunately, they are not my favourite coins, because they do not have any real use case, besides being backed by some precious metal.

Will it hope that there is something we could find and have to prove that crypto isn't just an illusion but it is real.
If there is, this could be a big help either...because of what (most) people think is that crypto is a scam and having them in doubt.

Searching is the only way to find them but somehow some sites are misleading/

Since you cant actually see the backed asset I really doubt there will be one at the end of the days So be very careful with those project Blockchain is decentralized and most time there is absolutely no way to arrest scammer You can end up losing money....Just learn trading and maybe try it out a bit

Difficult only in the sense that it has yet to be conceived, designed, engineered and brought to market.

Pegged, not backed.

There are over 2600 of them out there now and double that have come and gone.
Your Google search will find only "pegged".
Backed implies convertibility.
Almost all of these can be converted into nothing. This is the issue we strive and struggle to remedy.

Thank you for your contribution toward that noble and worthy outcome.

Its going to be really difficult to see one though as there is huge difference between claiming that they have and what is really in play. A lot of alt created make claim of being backed by real assets but there is no way to verify such claim and because there is no regulatory body to ensure that, the moment they can have a tight evidence to back up their claim, its assumed that they are saying the truth.

I would like to see one though most like from already established businesses maybe in retail or production that it won't he difficult to get verification on their claim.

It seems that simple google search would give you plenty of information, i often see such projects.
Tokens backed by gold, metals, USD and even diamonds.
The legitimacy is something different. Diamond example - cedex.

Of course, many of them will turn out to be tricksters. For old investors, this is very bad. Well, for a new stage of investing, this only plays into the hands. After all, when the market begins to get rid of fraudulent projects, top projects will begin to attract more and more new investments.

Some coins claim to be backed by something tangible like Gold and silver. Well some are scared to enter the market, they say they are waiting for a better robust market, I only hope they have not scammed investors. Ixinium is still ongoing project, I can't tell how it will end.

I had not intended to come off as flippant, although I will confess, I was two glasses deep into my weekly indulgence.

Please allow me to redress by providing a fuller answer to your thoughtful comment.

I agree with your statement in general, and of course in theory. They don't need to be backed by assets in the practical sense; however, widely accepted methods of exchange that have withstood the test of time are all backed by something, either by faith, military, GDP, natural resources, strong-arm aka cartel/mafia....or any combination thereof.

Although there are many ways of defining the term "real asset", because of my background owning, operating, buying, and selling businesses and assets from turnarounds and bankruptcies, I define assets very narrowly. They are productive processes, equipment, buildings, real estate, plants. Not only do these assets have tangible net value in and of themselves, these activities produce an income stream of present and future cash flows. This and only this can cycle, otherwise you will eventually run out of other peoples money.

Your corollary point "money isn't even backed by gold" is exactly why the U.S. dollar has lost more than 95% of its purchasing power since the tricky dick administration took us off the gold standard in '71.

And the "Bingo" reference, of course, was a recognition of what I'm looking for, an offering in the crypto space that is built atop "a real functioning company" and the assets I speak of is that company producing profits back to the community, not out of some sense of altruism, but because they have earned it.

One more confession, as I close; I've been looking at this ICO/Crypto/Blockchain/..... space for more than 3 years, meaning I had very little expectation, after having read literally hundreds of whitepapers in that time, that I would receive notification or recommendation of the existence of any such project out there or currently in the pipeline, that, "Are there any Altcoins out there backed by real assets?"

Bingo. Winner, Winner Chicken Dinner!

They don't need to be backed buy assets. What the hell is a "real asset" what makes it real? Money isn't even backed by gold. You don't need it to be backed by anything. It is backed by an idea or miners and hardware.
Unless you mean a real functioning company and the asset is the actual company?

Forget about it being legalized or not, because that might not be obtainable due to some issues surrounding it, but inasmuch as it is sure and well proven that is has a physical backing to give it some value, then it's fine. With time, we might see the full legality on crypto.