Coin backed by multiple assets | Bitcointalksearch.org

ashmodeus

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Quote from: arimamib on December 15, 2019, 11:22:41 AM

Quote from: ashmodeus on December 15, 2019, 11:16:07 AM

not too much affected i think , since its backed by real assets .
btw , i didn't think altcoins like that have a huge interest from crypto people, its no more than safety way when bear wake up .

but real assets can help them grow, but basically I'm also more interested in altcoin with a platform that can solve problems than altcoin with the help of real assets. the reason is because I prefer to see technological developments

i wonder if that the reason why people buying it,better just buy the real asset directly , rather than buying coin backed by real assest , i am sure more profit and lower risk than buying the coins .
for me the only worth coins backed by real assest is just USDT so far .

Twentyonepaylots

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Quote from: shodik007 on December 15, 2019, 11:39:52 AM

many but difficult to know the truth, would you immediately believe it if they write it on whitepaper?

Absolutely, everyone could say that their coin is fully backed by an existing asset/multiple asset. Even the tether, some are still in doubt by its backing asset since the founder hasn't bringing proofs only to prove that it is backed so it is reasonable to pegged in a dollar. There's no way people would believe on letter sent to a bank, that can be easily made by almost any one. But the thing is tether is still popularly used for hiding their asset in market's volatility.

Quote from: shodik007 on December 15, 2019, 11:39:52 AM

the effect of "backed" is only to attract the interest of the community, imo

Yeah some are using it as a trick and build a foundation of confident investors.

shodik007

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many but difficult to know the truth, would you immediately believe it if they write it on whitepaper? the effect of "backed" is only to attract the interest of the community, imo

Dickiy

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1.coin supported by many assets would be BITCOIN because of the very high level of competition and until now no one can bring it down

2.Medium coins are not necessarily supported by many assets because professional investors will see their potential in great detail and its potential for the long term

3.coins supported by USD, BTC and GOLD are certainly there but for GOLD that I know of is very rare to find really successful

4.having crypto is certainly high risk but with high potential too, so be smart "you choose the right nest

arimamib

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Quote from: ashmodeus on December 15, 2019, 11:16:07 AM

not too much affected i think , since its backed by real assets .
btw , i didn't think altcoins like that have a huge interest from crypto people, its no more than safety way when bear wake up .

but real assets can help them grow, but basically I'm also more interested in altcoin with a platform that can solve problems than altcoin with the help of real assets. the reason is because I prefer to see technological developments

ashmodeus

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not too much affected i think , since its backed by real assets .
btw , i didn't think altcoins like that have a huge interest from crypto people, its no more than safety way when bear wake up .

nicecrypto

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Quote from: sorrros on December 04, 2019, 04:44:40 PM

I rather buy a cryptocurrency that is backed by real business than by another asset, especially american dollar. USD is not backed by anything, so how can you secure that the token will be stable? But if you create real business, that is perspective, then it generates the profit and then you have investors that are interested in buying this coin. Cool

Yeah, i totally agree with this, what is the point of backing with different digital currency when they will still affect price either ways, i would have a crypto that is backed with real business that will in turn bring value to the coin overtime, this way the coin can have a healthy growth as long as the business is functioning and there is demand for the coin then price will increase gradually.

pawanjain

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I am not a Libra fan boy but you can read it's whitepaper where it stated that

"Libra will be fully backed by a reserve of real assets — the Libra Reserve — and supported by a competitive network of exchanges buying and selling Libra."

So, in a way, Libra coin is actually backed by multiple assets as they say.

CristianOff

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Quote from: alrose on December 08, 2019, 04:07:46 PM

Quote from: Bonwin on December 04, 2019, 04:48:23 PM

You will definitely find a lot of coins professed to be backed by so many assets, which mainly could be digital, but I still prefer those backed by real physical assets. Gold is a real asset and there are some backed by real estates. Backing a coin by an already established coin, might sometimes not be substantial enough, because anything can happen along the line.

Show me at least one project that has a coin backed by gold? Even if there is information about it on the project website, it does not mean that it is.

Tell me about the process of investigating how a coin is backed by gold and I would do it. See? The problem is that we don't get enough transparency
for so "backed" coins. However I don't think backed coins are bad, fake backed coins however they are! (unless they are constantly fake backed so it looks like they are realistically backed)

BartS

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Quote from: CristianOff on December 03, 2019, 04:19:11 PM

Are there any coins that are backed by multiple assets?

Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?

For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?

What would be the effects of having a crypto "in this format" ?

It seems that you want some kind of hybrid coin, but the question is why do you want something they that? As far as I know that doesn't exist, but it defeats the whole purpose of having a decentralized currency, now you're going to have to rely on a centralized institution to have as much fiat, bitcoin and gold in hand to back all the coins that they create.

And while this may seem like a good idea I disagree because we have seen in the past many coins that were supposedly backed by gold and all of them failed.

alrose

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Quote from: Bonwin on December 04, 2019, 04:48:23 PM

You will definitely find a lot of coins professed to be backed by so many assets, which mainly could be digital, but I still prefer those backed by real physical assets. Gold is a real asset and there are some backed by real estates. Backing a coin by an already established coin, might sometimes not be substantial enough, because anything can happen along the line.

Show me at least one project that has a coin backed by gold? Even if there is information about it on the project website, it does not mean that it is.

seleme

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Quote from: Thomas-s on December 08, 2019, 11:59:50 AM

Quote from: bigcash2011 on December 04, 2019, 03:32:00 PM

I think if you are worried about the volatility of the market or a coin like bitcoint then i guess crypto market is not your type and you should look some where else, personally i really love the volatility that crypto market provides, still if you want to stay in market and no volatility on fiat backed stable coins are the option and i like usdc, while other smaller coins that claim to be backed by other commodities or assets are mostly ponzis or scam so no one is going to refer you those.

it’s just that if a person constantly thinks and worries because of the volatility, he will simply go crazy in this market. you need to think how to use volatility for your goals and then you will be in the right place and you will earn a lot of money, but for this, you need to constantly study the market and know what is happening in the world

The volatility is not always friend of trader, the trend is a friend of trader unless he is the wrong side of the market. Fiat backed stable coin wouldn't be possible 100% due to the lack of regulation which will give confidence to the investors to use the stable coin with knowing the backup policy. Constantly studying the financial markets will helpt to understand the market patterns but this type of analysis is not yet usable in young crypto markets.

Balladtony77

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Quote from: CristianOff on December 03, 2019, 04:19:11 PM

Are there any coins that are backed by multiple assets?

Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?

For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?

What would be the effects of having a crypto "in this format" ?

Few projects claimed that there token is backed by real asset for example gold but they have nothing to prove with that the token is really backed by real asset, most of them are scam projects, i even heard about a fake token that used a real gold company as backed asset

uray

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Quote from: CristianOff on December 03, 2019, 04:19:11 PM

For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?

What would be the effects of having a crypto "in this format" ?

There are many stable coins in the market right now that are backed by assets, Digix Gold Tokens (DGX) is backed by gold and TrueUSD and USD Tether are backed by fiat but you need to look for transparency before trusting any of them as i would not trust USDT because of their lack of audit for the assets backed and in the future we might see more stable coins coming up.

Thomas-s

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Quote from: bigcash2011 on December 04, 2019, 03:32:00 PM

I think if you are worried about the volatility of the market or a coin like bitcoint then i guess crypto market is not your type and you should look some where else, personally i really love the volatility that crypto market provides, still if you want to stay in market and no volatility on fiat backed stable coins are the option and i like usdc, while other smaller coins that claim to be backed by other commodities or assets are mostly ponzis or scam so no one is going to refer you those.

it’s just that if a person constantly thinks and worries because of the volatility, he will simply go crazy in this market. you need to think how to use volatility for your goals and then you will be in the right place and you will earn a lot of money, but for this, you need to constantly study the market and know what is happening in the world

Ucy

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Quote from: CristianOff on December 03, 2019, 04:19:11 PM

Are there any coins that are backed by multiple assets?

Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?

For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?

What would be the effects of having a crypto "in this format" ?

I think few decentralized stablecoins are backed by multiple assets... I am not sure about cryptocurrencies or tokens though. There is an erc20 token that is "backed" by Bitcoin. It's exactly thesame price as Bitcoin. I don't remember the name now.

Coins backed by multiple assets should behave like the assets they are backed by, I guess.

crwth

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I'm pretty sure that there are coins that have backing with fiat currencies or any that is of value, but we can't verify if they're real dollars or there's an actual backing with it. You could easily create a website, a fake team, fake everything, and say that you are backed with "multiple" assets. You still can't verify it.

Can you blame the people who are not into stable coins? The opportunity to profit is big in BTC-USD pairs, but others, it would just follow the trend of BTC.

Multiple backed assets won't be any help with regards to affecting crypto because it wouldn't increase or decrease the price. It's an assurance that there is value in that particular asset, in this case, in Bitcoin. Even if you have multiple assets, it's still going to translate as one value (total value), and people should trust that to invest in it. The result would be more people would understand that cryptocurrencies are the real deal.

Mammothcoin

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If a coin is backed by multiple assets, what will the valuation system/structure be since each underlying asset will have a particular value. Say for instance a coin backed by a stablecoin like USDT or fiat, in addition to gold and bitcoin which you mentioned, what will the percentage weight of each backing asset be in terms of its influence on the price of the coin?

CristianOff

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Thanks everyone for answering.

Quote from: bigcash2011 on December 04, 2019, 03:32:00 PM

I think if you are worried about the volatility of the market or a coin like bitcoint then i guess crypto market is not your type and you should look some where else, personally i really love the volatility that crypto market provides, still if you want to stay in market and no volatility on fiat backed stable coins are the option and i like usdc, while other smaller coins that claim to be backed by other commodities or assets are mostly ponzis or scam so no one is going to refer you those.

I am not worried about this, I just shared what other people are worried. Come do financial trading on commodities and I am sure you won't like volatility anymore Grin

Bitcoin is fine

tenakha

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Quote from: CristianOff on December 03, 2019, 04:19:11 PM

Are there any coins that are backed by multiple assets?

I have never heard anything about this kind of coin. Also looked at google but I did not get results.

Quote from: CristianOff on December 03, 2019, 04:19:11 PM

What would be the effects of having a crypto "in this format" ?

IMO this is not an idea that will give superiority in any matter. Each asset has its own value and volatility, I do not even know whether it is possible to use them all to back up a coin. Who wants to create in any stability chooses the appropriate asset and uses it.

Bonwin

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You will definitely find a lot of coins professed to be backed by so many assets, which mainly could be digital, but I still prefer those backed by real physical assets. Gold is a real asset and there are some backed by real estates. Backing a coin by an already established coin, might sometimes not be substantial enough, because anything can happen along the line.

sorrros

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I rather buy a cryptocurrency that is backed by real business than by another asset, especially american dollar. USD is not backed by anything, so how can you secure that the token will be stable? But if you create real business, that is perspective, then it generates the profit and then you have investors that are interested in buying this coin. Cool

tabas

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The popular stablecoins are said to be backed by fiat.
USDC
GUSD
Tether was also reported to be making a stable coin for Chinese currency which is the Chinese Yuan.
For the altcoin backed up by gold, I've seen those projects before but most of them didn't find success. I don't know why.

bigcash2011

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I think if you are worried about the volatility of the market or a coin like bitcoint then i guess crypto market is not your type and you should look some where else, personally i really love the volatility that crypto market provides, still if you want to stay in market and no volatility on fiat backed stable coins are the option and i like usdc, while other smaller coins that claim to be backed by other commodities or assets are mostly ponzis or scam so no one is going to refer you those.

CristianOff

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To everyone saying it would be illegal, can you expand on it? In what way would that be illegal? If there are coins that are single backed by
gold, dollar, then how would being backed by multiple assets become illegal?

Leonardo7

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There are some projects that claim to be backed by gold, we can't conclude them so until they are made to test the wave of the market. Platincoin claims to backed by many things it will fail.

semobo

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Quote from: CristianOff on December 03, 2019, 04:19:11 PM

Are there any coins that are backed by multiple assets?

Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?

For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?

What would be the effects of having a crypto "in this format" ?

Backed up coins are big lie there is actually no backup these are just pretend to be so don't compare the decentralized coins with backed up shit coins.

seleme

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I doubt the backed by multiple digital assets will be a 100% true or legal. Some projects have the whitepaper which looks too good to be true. AFAIK, the USDCas a stable coin is backed by USD but their documentation and paperwork are more trustworthy than Tether. Btw, Aurum is also backed with gram gold, many projects have the same backup process. The majority of gold-backed projects have the origin from Switzerland and Russia, from my understating.

DayTrader27

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Quote from: CristianOff on December 03, 2019, 04:19:11 PM

Are there any coins that are backed by multiple assets?

Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?

For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?

What would be the effects of having a crypto "in this format" ?

No. That wouldn't be legal. Use Tether, Paxos or TrueUSD.

anu1908

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might as well by crypto index. those who moans about asset backed coins seems to not understand why the coins exist in the first place

Jet Cash

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You need to read the small print for these types of cryptos. Hypothecation seems to be the main process for giving an apparent backing for a crypto, and there is often the possibility to introduce fractional reserves. Fiat currencies have no intrinsic value, and are inflationary, so if they are used to "back" a crypro, then its value is more or less guaranteed to reduce in real value.

CristianOff

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Are there any coins that are backed by multiple assets?

Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?

For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?

What would be the effects of having a crypto "in this format" ?

Topic: Coin backed by multiple assets (Read 306 times)