Are there any Altcoins out there backed by real assets? - page 4.

TokenHodlr

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Quote from: jeraldskie11 on September 19, 2019, 11:32:08 AM

I can see some altcoins or tokens where using the name of real assets but I don't know if it was backed by it. Example, the price of Tether(USDT) is the same as the price of USD and the price will not increase higher or lower 1$ even you will invest a million dollar on it, the value will remain 1$ because it was manipulated. So what do you think about it?

Its a pegged coin, enough said.

TokenHodlr

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Quote from: confreslamp on September 19, 2019, 11:20:00 AM

Just search in the web, but be aware. There are a lot of projects that will try to fish you, because this theme is very popular nowadays. You can even find 3-5 bounties at the moment, that are collecting funds for projects with the same purpose. (backed by gold, diamonds, real estate)

In my ideal cryptocurrency, whatever the assets might be, they must produce an income sufficient to maintain those assets and acquire new ones organically or otherwise; and must be blockchain-community audited.

OasisDre

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The only project that i know of with real life working product and backed by big company this year so far is still bitwings but either backed with real asset or not this doesn't guaranteed the success of new projects this days since many projects are just failing like they are jokes

TokenHodlr

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Activity: 98

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Quote from: bustedsynx on September 18, 2019, 01:30:48 PM

Quote from: BitcoinPanther on September 18, 2019, 11:12:28 AM

There are lots of coins/tokens that claims they are backed by gold but I don't think that they are really backed by gold. They just use this scheme to entice investors to invest on their project. I have seen several projects that claims to be backed by real asset but they failed on proving that they really are backed by what they claim and eventually, the project die or the developer runs with the collected money.

This is so true. None of them that claims they backed by hard assets were true. Even Tether is proven to be running as a fractional reserve. Another unbelievable asset-backed coin is Petro, cryptocurrency by Maduro's government which is turning out to be scam.

There are a number of solutions to authenticating and auditing the claims these offers are making.

An example that pops immediately to mind would be an audio/video surveillance system with web-accessed live streaming video; whereby any member could access visual confirmation of all income-producing assets and their associated accounts of cash and cash equivalents.

TokenHodlr

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Quote from: Monetran on September 18, 2019, 01:22:40 PM

Quote from: target on September 18, 2019, 12:55:22 PM

Quote from: Monetran on September 18, 2019, 12:41:41 PM

A brief explanation of the Gold Standard and why a currency backed by gold wouldn't work today:

www.monetran.com/currency-support/

XAUR is backed by gold https://coinmarketcap.com/currencies/xaurum/
There is also a project by the Populous Team which is named XAUP, I think its not yet on the market right now. This is the ANN thread of this project https://bitcointalksearch.org/topic/populous-world-gold-poken-xaup-sale-5100378

I think there is also a gold backed project in the WAVES platform, I just can't remember the name of the project. If by real asset includes real properties then I guess there are more of the projects, you just have to search for it.

Yes, there are gold backed tokens issued by various companies. The point is, gold is a sometimes volatile commodity. This prevents any coin or token backed by gold (or any other precious metal) from achieving two important goals of any cryptocurrency which is striving for mass adoption: price stability and the ability to serve as a store of value.

Without price stability, a crypto can't be reliably used as a medium of exchange because its value will fluctuate, often significantly.

Without the ability to serve as a store of value, it can, and often will, lose value over time.

Backing by gold is not a guarantee of anything other than it is not backed by zero.

Agreed, with one caveat; 'price stability' should rest on a foundation of appreciating value. To me, this translates into a price discovered through authenticated net asset value and community-audited income from operations. What else can protect you from orchestrated inflation and the devaluation of whatever assets the so-called 'stable coin' is pegged to?

Thanks for your considered response.

TokenHodlr

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Quote from: avikz on September 18, 2019, 12:56:04 PM

Quote from: TokenHodlr on September 18, 2019, 10:30:40 AM

Looking for an Altcoin that is backed by something; akin to the Gold standard as opposed to just speculation....

Thanks in Advance

There are dozens of projects that are claimed to be backed by real-world assets! However, there is no easy way to confirm their claim because all of them are not audited by any credible auditor. So think before you leap into such tokens so save yourself from future regrets. read the below article to know the list of some asset backed cryptos,

https://www.goldscape.net/gold-blog/gold-backed-cryptocurrency/

However, nor I will not take any responsibility if their claim turns out to be false Neither I am promoting any of them. This is purely informational purpose only!

avikz,

Appreciate the link.

The big issue for me in all the offerings I've seen is a simple lack of authenticatable yield; no income, no basis for discovery of true price/value. Just pure speculation; or better yet, gambling. I think this is best illustrated looking at the historical price charts, especially the last 5 years. For all coins, including Bitcoin. You will see they move almost in tandem; a glaring indication they're pretty much all 'me too' coins. Although recently Altcoins have, on occasion, led Bitcoin, especially to the downside.

litepool.ru

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Quote from: TokenHodlr on September 18, 2019, 10:30:40 AM

Looking for an Altcoin that is backed by something; akin to the Gold standard as opposed to just speculation....

Thanks in Advance

Yes, these are stablecoins like USDT, PAX, USDC ... all of them are backed by USD and real assets.

TokenHodlr

member

Activity: 98

Merit: 15

Quote from: target on September 18, 2019, 12:55:22 PM

Quote from: Monetran on September 18, 2019, 12:41:41 PM

A brief explanation of the Gold Standard and why a currency backed by gold wouldn't work today:

www.monetran.com/currency-support/

XAUR is backed by gold https://coinmarketcap.com/currencies/xaurum/
There is also a project by the Populous Team which is named XAUP, I think its not yet on the market right now. This is the ANN thread of this project https://bitcointalksearch.org/topic/populous-world-gold-poken-xaup-sale-5100378

I think there is also a gold backed project in the WAVES platform, I just can't remember the name of the project. If by real asset includes real properties then I guess there are more of the projects, you just have to search for it.

target,

Income producing real estate as a part of a diversified portfolio of blockchain authenticated income-producing assets would fit the bill for me.

Thanks

TokenHodlr

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Activity: 98

Merit: 15

Quote from: rosezionjohn on September 18, 2019, 11:16:27 AM

Are you looking for an altcoin backed by real assets that are not stable coins (or planning to be)? If so, I don't think there is any.
Other than gold, I have seen projects claiming to be backed by diamond or gem but I'm no longer sure if they took off.

rosezionjohn,

My question was ill-considered at best.

It should have read 'akin to gold with a yield', or more descriptively, a blockchain authenticated portfolio of high-margin income-producing assets, secured by community-audited net asset value and guaranteed conversion into the underlying products and services. Net asset value and income, defined and measured as; blockchain-audited cash and cash equivalents from operations, modest earnings margin/growth multiple and blockchain-audited net asset value of portfolio holdings: productive land, buildings, equipment, natural resources, finished goods inventory and the like.

Enabling true price/value discovery creating a method of exchange, a reliable store of value, a yield protecting one's wealth against inflation, and a sure basis for competent price appreciation and a dividend.

I agree wholeheartedly with your observation that this has not been engineered and brought to market yet.

Samayuki

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Quote from: TokenHodlr on September 18, 2019, 10:30:40 AM

Looking for an Altcoin that is backed by something; akin to the Gold standard as opposed to just speculation....

Thanks in Advance

After several researches i haven't find a project backed by real gold assets that i can trust, there are few ones but i don't trust them, real estate backed projects is another case, i seem to trust AQRE platorm by chellecoin among others

jeraldskie11

sr. member

Activity: 1316

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I can see some altcoins or tokens where using the name of real assets but I don't know if it was backed by it. Example, the price of Tether(USDT) is the same as the price of USD and the price will not increase higher or lower 1$ even you will invest a million dollar on it, the value will remain 1$ because it was manipulated. So what do you think about it?

confreslamp

copper member

Activity: 280

Merit: 1

CINEMADROM ⥋ BLOCKCHAIN FILM PLATFORM

Just search in the web, but be aware. There are a lot of projects that will try to fish you, because this theme is very popular nowadays. You can even find 3-5 bounties at the moment, that are collecting funds for projects with the same purpose. (backed by gold, diamonds, real estate)

TokenHodlr

member

Activity: 98

Merit: 15

Quote from: nreal on September 18, 2019, 10:57:09 AM

I think I know a coin backed by gold. According to the project description, one of their GOLD tokens is backed by 1 gram of 99.99% pure gold. And their gold is stored by BuillonStar, you can also easily check their gold at BuillonStar through their account number. This is their website.
https://gold.storage/en/market

nreal,

Thanks for the reply.

I've read dozens of the whitepapers from these type offerings, so far they have all fallen short in multiple areas. However, the one area I have found that all of them have in common in a word, yield.

Yield as we know, is the wisest and truest protector from inflation's ills and preserver of wealth and the formation of capital. Without high-quality income-producing assets at the foundation of the cryptocurrency, there will be no mechanism for true price/value discovery in the open markets that transactors can rely on.

TokenHodlr

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Activity: 98

Merit: 15

Quote from: BitcoinPanther on September 18, 2019, 11:12:28 AM

There are lots of coins/tokens that claims they are backed by gold but I don't think that they are really backed by gold. They just use this scheme to entice investors to invest on their project. I have seen several projects that claims to be backed by real asset but they failed on proving that they really are backed by what they claim and eventually, the project die or the developer runs with the collected money.

Quote from: nreal on September 18, 2019, 10:57:09 AM

I think I know a coin backed by gold. According to the project description, one of their GOLD tokens is backed by 1 gram of 99.99% pure gold. And their gold is stored by BuillonStar, you can also easily check their gold at BuillonStar through their account number. This is their website.
https://gold.storage/en/market

I can say their gold is too little to back up their entire token. It is misleading to say that 1 token is backed up by 1 gram of 99.99% pure gold since they have 979,582 token and their gold reserve is only 100 gram x 72 .

BitcoinPanther,

Thank you for your time and feedback.

Based on that feedback, it's obvious I should have been more thoughtful in formulating my question and I shall do so below in response to other members generosity.

Gold, gems and the like serve a niche purpose, but for me, are too centrally controlled, not to mention the issues of transport, fungibility.... thus susceptible to manipulation. 'Stable Coins', on the other hand, are more accurately termed 'pegged' coins, whatever the underlying commodities, financial instruments or any other basket of published valuations, translating into unavoidable exposure to volatility and the inherent cyclical risks.

Again, thanks for pausing and giving consideration to a noobs meandering.

bustedsynx

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Activity: 859

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Quote from: BitcoinPanther on September 18, 2019, 11:12:28 AM

There are lots of coins/tokens that claims they are backed by gold but I don't think that they are really backed by gold. They just use this scheme to entice investors to invest on their project. I have seen several projects that claims to be backed by real asset but they failed on proving that they really are backed by what they claim and eventually, the project die or the developer runs with the collected money.

This is so true. None of them that claims they backed by hard assets were true. Even Tether is proven to be running as a fractional reserve. Another unbelievable asset-backed coin is Petro, cryptocurrency by Maduro's government which is turning out to be scam.

Monetran

newbie

Activity: 97

Merit: 0

Quote from: target on September 18, 2019, 12:55:22 PM

Quote from: Monetran on September 18, 2019, 12:41:41 PM

A brief explanation of the Gold Standard and why a currency backed by gold wouldn't work today:

www.monetran.com/currency-support/

XAUR is backed by gold https://coinmarketcap.com/currencies/xaurum/
There is also a project by the Populous Team which is named XAUP, I think its not yet on the market right now. This is the ANN thread of this project https://bitcointalksearch.org/topic/populous-world-gold-poken-xaup-sale-5100378

I think there is also a gold backed project in the WAVES platform, I just can't remember the name of the project. If by real asset includes real properties then I guess there are more of the projects, you just have to search for it.

Yes, there are gold backed tokens issued by various companies. The point is, gold is a sometimes volatile commodity. This prevents any coin or token backed by gold (or any other precious metal) from achieving two important goals of any cryptocurrency which is striving for mass adoption: price stability and the ability to serve as a store of value.

Without price stability, a crypto can't be reliably used as a medium of exchange because its value will fluctuate, often significantly.

Without the ability to serve as a store of value, it can, and often will, lose value over time.

Backing by gold is not a guarantee of anything other than it is not backed by zero.

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: TokenHodlr on September 18, 2019, 10:30:40 AM

Looking for an Altcoin that is backed by something; akin to the Gold standard as opposed to just speculation....

Thanks in Advance

There are dozens of projects that are claimed to be backed by real-world assets! However, there is no easy way to confirm their claim because all of them are not audited by any credible auditor. So think before you leap into such tokens so save yourself from future regrets. read the below article to know the list of some asset backed cryptos,

https://www.goldscape.net/gold-blog/gold-backed-cryptocurrency/

However, nor I will not take any responsibility if their claim turns out to be false Neither I am promoting any of them. This is purely informational purpose only!

target

legendary

Activity: 2282

Merit: 1041

Quote from: Monetran on September 18, 2019, 12:41:41 PM

A brief explanation of the Gold Standard and why a currency backed by gold wouldn't work today:

www.monetran.com/currency-support/

XAUR is backed by gold https://coinmarketcap.com/currencies/xaurum/
There is also a project by the Populous Team which is named XAUP, I think its not yet on the market right now. This is the ANN thread of this project https://bitcointalksearch.org/topic/populous-world-gold-poken-xaup-sale-5100378

I think there is also a gold backed project in the WAVES platform, I just can't remember the name of the project. If by real asset includes real properties then I guess there are more of the projects, you just have to search for it.

Monetran

newbie

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A brief explanation of the Gold Standard and why a currency backed by gold wouldn't work today:

www.monetran.com/currency-support/

DaMut

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Quote from: BitcoinPanther on September 18, 2019, 11:12:28 AM

Quote from: nreal on September 18, 2019, 10:57:09 AM

I think I know a coin backed by gold. According to the project description, one of their GOLD tokens is backed by 1 gram of 99.99% pure gold. And their gold is stored by BuillonStar, you can also easily check their gold at BuillonStar through their account number. This is their website.
https://gold.storage/en/market

I can say their gold is too little to back up their entire token. It is misleading to say that 1 token is backed up by 1 gram of 99.99% pure gold since they have 979,582 token and their gold reserve is only 100 gram x 72 .

I do not see anything wrong there. If you look at it closely, you will see that:
1 Gold(Their token) = 0.00465858 BTC, and if you calculate it. It is about $48 per piece, here we are talking about gold per gram. And based on the data I gathered here https://goldprice.org/gold-price-per-gram.html, For every 1 gram of 99.99% gold is $48.4
that means they are indeed backing their coin/token to 1 gram of gold each. That is totally fine and not misleading at all.

Topic: Are there any Altcoins out there backed by real assets? - page 4. (Read 712 times)