Gold back and silver backed projects also there in the market but not sure why they have doing it in such a way dude. Still I didn't see the any investors showing interest on such asset backed projects.
Then investors are showing interest to potential and future focussed projects in the marketplace. We need to some loyal projects if that asset or product backed. Both are really useful for us.
Topic: Asset backed cryptocoins? - page 3. (Read 817 times)
when there are assets that have cryptocurrency support it is very difficult to happen because for now cryptocurrency still has no legality that can make cryptocurrency can be used for all payments in the world, so no one can provide a clear guarantee of cryptocurrency because it still does not have support from governments throughout the country.
Or we can say that bitcoin still has to be legalized by majority of the world. However, you can find examples of companies that are actually selling their products and services in exchange of bitcoin and other altcoins. It is just a matter of time before digital currencies of decentralized nature will be legalized by governments, even if they wont want to. The reason would be mass adoptions of digital coins.We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
Considering the fact that cryptocurrency is not yet legal all over the world, we cannot still fully rely on assets alone always. It would be a hard way of surviving for crypto. We should seek more for the approval of cryptocurrency being legal all over the world so that the assets would be widespread dessiminating more help compared to what we have now. We should also look forward on regulating the users more so that the government will not be able to take advantage on crypto. when there are assets that have cryptocurrency support it is very difficult to happen because for now cryptocurrency still has no legality that can make cryptocurrency can be used for all payments in the world, so no one can provide a clear guarantee of cryptocurrency because it still does not have support from governments throughout the country.
Or we can say that bitcoin still has to be legalized by majority of the world. However, you can find examples of companies that are actually selling their products and services in exchange of bitcoin and other altcoins. It is just a matter of time before digital currencies of decentralized nature will be legalized by governments, even if they wont want to. The reason would be mass adoptions of digital coins. 
I think the type of cryptocurrency backed by assets is difficult to develop in the future. People come to cryptocurrencies because it's decentralized and not regulated by any national bank, so the currency backed by assets does not win investors' trust.
Besides the currency backed by other assets is only a copy of cash, it does not have anything special. If people like gold or oil people just buy them directly.
A question, if I had a Venezuelan Petro, how would I exchange a barrel of oil?
Besides the currency backed by other assets is only a copy of cash, it does not have anything special. If people like gold or oil people just buy them directly.
A question, if I had a Venezuelan Petro, how would I exchange a barrel of oil?
We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
We have stable coins already and they are the first attempt by developers and Coins like Libra is also one of those, as it is backed by a reserve to keep the price stable. But as we all know it, Libra might no longer be a success due to the government being against the idea of having a global cryptocurrency that will be controlled by Facebook and whatever it is that made them disagree.But, there are still others like USDT, TUSD, etc. though investors are not showing much interest in it. Bitcoin is volatile, but it is still the cryptocurrency that is getting more attention from most investors.
These stablecoins are also cryptocoins backed by fiat, they are always being centralized though. This is almost the same with the gold backed coins like XAURUM, its not really going to be seen as decentralize by users but its just that how these team are planing their project. If someone will asks about the reserves online how are they going to prove that the reserved gold exist or USD reserved? Its going to be impossible for people to really believe what they are showing online.
We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
We have stable coins already and they are the first attempt by developers and Coins like Libra is also one of those, as it is backed by a reserve to keep the price stable. But as we all know it, Libra might no longer be a success due to the government being against the idea of having a global cryptocurrency that will be controlled by Facebook and whatever it is that made them disagree.But, there are still others like USDT, TUSD, etc. though investors are not showing much interest in it. Bitcoin is volatile, but it is still the cryptocurrency that is getting more attention from most investors.
These stablecoins are also cryptocoins backed by fiat, they are always being centralized though. This is almost the same with the gold backed coins like XAURUM, its not really going to be seen as decentralize by users but its just that how these team are planing their project. If someone will asks about the reserves online how are they going to prove that the reserved gold exist or USD reserved? Its going to be impossible for people to really believe what they are showing online.
We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
We have stable coins already and they are the first attempt by developers and Coins like Libra is also one of those, as it is backed by a reserve to keep the price stable. But as we all know it, Libra might no longer be a success due to the government being against the idea of having a global cryptocurrency that will be controlled by Facebook and whatever it is that made them disagree.But, there are still others like USDT, TUSD, etc. though investors are not showing much interest in it. Bitcoin is volatile, but it is still the cryptocurrency that is getting more attention from most investors.
if you are a crypto enthusiast, are you going to invest on them or would rather stick to bitcoin?
Bitcoin, baby! This is what facebook's libra is supposed to be, a cryptocurrency backed by some 'basket of currencies'. What they plan to have their members use it for is beyond me. The unbanked population of the world could use bitcoin or some other crypto like dash, as is happening in Venezuela right now instead of a stable coin like libra. But libra is probably never going to launch anyway.
I agree with everyone who said cryptocurrencies don't need to be backed by anything in order to be functional and valuable. There doesn't need to be any sort of 'gold standard' in crypto, and I don't really see any use for such.
at the moment, I don't think that cryptocurrency that has great instability and is also decentralized can help the country's economy and be an asset to the country, or individuals. in fact, I think that this is quite dangerous because we don't know when prices will actually fall.
with the unstable situation of thre market right now it is really hard to conclude that it could help or ease. Fluctuations are really hard to control because of its decentralized system, however, this decentralization is being embraced by the investors and traders to make gains and profits out of their own money. I just don't think that it could impact the market that huge because less than 3% of the worlds population are using cryptocurrency and that is less than a ten million of people factoring out those country who has not been in connect to the internet.other than that the government will not do that because some of them are also fighting against cryptocurrency.
Some might and some might not. Naturally we have a different type and forms of the government and I think those democratic ones are going to go with these emerging ideas of cryptocurrency than to non-democratic type of government.
at the moment, I don't think that cryptocurrency that has great instability and is also decentralized can help the country's economy and be an asset to the country, or individuals. in fact, I think that this is quite dangerous because we don't know when prices will actually fall.
with the unstable situation of thre market right now it is really hard to conclude that it could help or ease. Fluctuations are really hard to control because of its decentralized system, however, this decentralization is being embraced by the investors and traders to make gains and profits out of their own money. I just don't think that it could impact the market that huge because less than 3% of the worlds population are using cryptocurrency and that is less than a ten million of people factoring out those country who has not been in connect to the internet.other than that the government will not do that because some of them are also fighting against cryptocurrency.
Some might and some might not. Naturally we have a different type and forms of the government and I think those democratic ones are going to go with these emerging ideas of cryptocurrency than to non-democratic type of government. 
when there are assets that have cryptocurrency support it is very difficult to happen because for now cryptocurrency still has no legality that can make cryptocurrency can be used for all payments in the world, so no one can provide a clear guarantee of cryptocurrency because it still does not have support from governments throughout the country.
We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
Tether for example has got into trouble for not being able to prove it is backed by a reserve of dollars.
The other asset backed coin - Venezuela's Petro - claims to be backed by oil. But no-one trusts the Venezuelan govt to make that oil available to give the coin value.
With the current state of venezuela right now? Most likely they will not get trust. A coin backed by oil with unstable price? who will believe on this?People would be better off sticking with regular kinds of cryptocurrency. If you want assets like gold or oil, buy the gold or oil company shares directly.
In most cases people will surely buy gold for backing but with the modern technology we have some will choose a volatile one which is cryptocurrency. 
cryptos are already reffered to as an asset or investment assets but after reading further i can see that you are refering to an actual assets like gold , silver and simillar .
yes there are asset backed cryptos but i already forgot thier names because majority of them are only a new projects came from an ico . it supposed to help our economy if we can invest on them but cryptos itself can also help the economy if use on a proper way so why not go for both ?
It is just like hitting two birds in one shot!yes there are asset backed cryptos but i already forgot thier names because majority of them are only a new projects came from an ico . it supposed to help our economy if we can invest on them but cryptos itself can also help the economy if use on a proper way so why not go for both ?
I think that is the best thing that crypto wants to achieve. It wants to boost not just the economy and technology but it will also help the entire countries through globalization. The ICO will ease the problem of every industry. There are many ICO projects that have been starting to create innovation and I know someday, crypto will not just be an asset or an investment but a way to fund a new develop tech or researches.
at the moment, I don't think that cryptocurrency that has great instability and is also decentralized can help the country's economy and be an asset to the country, or individuals. in fact, I think that this is quite dangerous because we don't know when prices will actually fall.
other than that the government will not do that because some of them are also fighting against cryptocurrency.
other than that the government will not do that because some of them are also fighting against cryptocurrency.
Yeah but this is more of a centralized coins afterwards.
It will be good for one's country but what is the point?
Why not just use their own fiat currency for it?
Why go to the hardship of using crypto currency then backing it up with assets. That just sounds bad to me.
I guess we should see as they go on.
the level of validity they use also does not refer to transparency, so the asset only looks like a slogan on blank paper.It will be good for one's country but what is the point?
Why not just use their own fiat currency for it?
Why go to the hardship of using crypto currency then backing it up with assets. That just sounds bad to me.
I guess we should see as they go on.
I prefer that they only use fiat backed and it doesn't matter if it is connected with centrality because crypto has its own market, here users also need the comfort and security of assets in the long run.
The only asset-backed crypto I would like to see are security tokens that is being offered through STOs not the ones backed by fiat or any kind of precious metals or oil out there. Since security tokens are similar to stocks we might start to see some more stable coins in the crypto market. Not only they are stable but also they payout dividends just like what a normal stock of a company would do. The reason why I'm not into a fiat-backed crypto is simply because I won't be supporting any kind of government's push into the crypto market, supporting one state backed crypto is like accepting a digital version of their own digital asset. At least with security tokens you still get to involve yourself to a wide option of choices to diversify your portfolio.
Asset-backed cryptocurrencies provide another layer of security to investors by having real asset dictating it's value that it's worth something. However, due to this additional factor, government would consider them a company that should be listed, and pay taxes and such. This would also make them easier to approach exchanges, but it would be just like another company with it's worth relying on these assets that has value in its local currency.
Who would guarantee that such cryptocurrency really have the assets backing it up anyway. That remind me of the venezuelan crypto which to be said backed by oil but well who know whether that's true or not since the country have absolute power over such a thing you might ended up buying a coin that's useless and backed by nothing. I think any asset backed cryptocoins out there should be audited first before even releasing to the public, yes it can provide another layer of security but what's the good if the asset is basically nonexistent or innacessible.
Team of developers had tried gold back tokens in crypto but non of them works. This is believed to be centralized when there is physical attributes to a project, its just not possible to store physical materials on blockchain to make tokens valuable since it can all be stolen, burned or lost. If you have gold for instance with XAUR project, its just easy to take the word of the team that they have the gold with them stored somewhere.
Yeah but this is more of a centralized coins afterwards.
It will be good for one's country but what is the point?
Why not just use their own fiat currency for it?
Why go to the hardship of using crypto currency then backing it up with assets. That just sounds bad to me.
I guess we should see as they go on.
It will be good for one's country but what is the point?
Why not just use their own fiat currency for it?
Why go to the hardship of using crypto currency then backing it up with assets. That just sounds bad to me.
I guess we should see as they go on.
We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
I think this is just a normal sponsorship activity like other businesses do with products or assets around the world. The purpose is to demonstrate the potential and value of the business.I personally don't feel there is anything special here. What is even more remarkable is that it is Blockchain technology. It is making more and more billion dollar enterprises.
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