Crypto backed assets | Bitcointalksearch.org

Febo

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Quote from: target on January 14, 2019, 09:05:25 AM

Quote from: Febo on January 13, 2019, 03:20:06 PM

Quote from: NeoAnderson00 on January 10, 2019, 05:13:53 PM

Anybody know of any crypto-currency backed by actual assets?

I only know of one crypto-currency backed by assets.

Problem with that is that you never know. There is lots coins gold backed. Stable coins are fiat backed. But do they have any Gold really. Do they have fiat stored somewhere? You dont know. So is really stupid idea to buy such coin. Buy USD or Gold not token baked by them.

Xaurum posted photos of their gold bars inside the bank vault somewhere on their thread, I clearly remember this because I was part of their bounty campaign. I think the previous project was Aurum, I don't know how it works but its also backed by gold.

What can you do with picture? Nothing. Once something happens they can just sell that gold or pick it up. There is nothing that can force them to hand that gold to token owners. Nothing. If there would be some storeroom with unbreakable lock that could be opened only with your token then could work. But like this is silly. You give them full trust. Sort of stupid if you can just buy gold yourself and put it under your pillow.

Dragonrage201

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There have been some ICOs that are backed by assets e.g. Gemera backed by Colombian emeralds, Jinbi backed by some African gold mine and some art backed coin.

cryptomaster420

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It's been coming since 2017, it's convenient, it's absolutely useful and glad to see projects finally utilizing this strategy.
Unfortunately for moonboys, moon missions will not happen on these projects, only boring steady growth with the occasional crash Grin

luongdk

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Check out gigzi project, but as far as I know it is an ICO, not ready project. According to my experience just all of ICOs connected with crypto backed loans don't have good history and token isn't on demand. That's what I actually see. To my mind there is much more sense to tokenize such things as art , paints . Art is growing and just imagine, you can buy a part of picture. It is awesome!

smoolae

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Don't really know any assets that are backed by crypto and if you think about it why would there be any. The cryptocurrencies as we know them are highly volatile except the so-called "stablecoins". You can have some crypto to be backed by some commodity or valuta, but other way around it would be rather weird.

kingzpro

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DIFX - Digital Finacial Exchange

I know about a few of them and the one i remember at the moment is real estate asset ledger REAL ehere you own part of property for real tokens so we can say that real is an asset backed crypto.

damberg

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Quote from: South Park on January 13, 2019, 12:35:25 PM

Quote from: damberg on January 13, 2019, 06:16:48 AM

Moreover, backing or tying a cryptocurrency to another asset requires a proper valuation (and ongoing revaluation) of underlying asset. That is difficult and for example banks employ large teams to do it.

And even if such audit takes place doubts will still persist, this is what happened to tether some months ago when people began to worry if all the tether in circulation was in fact backed by dollars, everyone in tether backed their claims and said there was nothing to worry but I do not remember if an external party was given the chance to test if their claims were true so trust will always be an issue with such a coin.

I think Tether boasted with some audits but I don't know how reliable they were. I agree trust is the key for cryptocurrency backed with assets.

target

legendary

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Quote from: Febo on January 13, 2019, 03:20:06 PM

Quote from: NeoAnderson00 on January 10, 2019, 05:13:53 PM

Anybody know of any crypto-currency backed by actual assets?

I only know of one crypto-currency backed by assets.

Problem with that is that you never know. There is lots coins gold backed. Stable coins are fiat backed. But do they have any Gold really. Do they have fiat stored somewhere? You dont know. So is really stupid idea to buy such coin. Buy USD or Gold not token baked by them.

Xaurum posted photos of their gold bars inside the bank vault somewhere on their thread, I clearly remember this because I was part of their bounty campaign. I think the previous project was Aurum, I don't know how it works but its also backed by gold.

Vit83

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I don't know why people looking for a coin baked with something from real world) It can't make you rich) For example 1 usdt cost 1 usd, and can become 10usd price it always will be 1 usd or less)

blockman

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Vave.com - Crypto Casino

Quote from: coco23 on January 11, 2019, 04:25:12 AM

Quote from: blockman on January 11, 2019, 03:49:40 AM

The other crypto that's backed by assets are the exchange coins such as kucoin shares, binance coin and other tokens that are owned by big exchange companies.

But are they really backed by something? Of course holding those tokens gives you a "dividend" of some sort, but it's not like they are comparable to stocks where you actually own a part of the company...

Yes, they really backed by something. They are company and that's most of the companies in the stock market do. They are back by the service and operation that they do. The fees that they collect and listing fees from another coin that wants to penetrated their exchange are their source of income. And that means, they are backed by a real company that's registered and operates. They make money and profit through their services and their product is their exchange itself.

tomahawk9

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Cats on Mars

Quote from: Dexion on January 13, 2019, 05:30:56 PM

like petro. petro is a Venezuelan digital currency backed by state oil assets

The thing about Petro is that it could hardly be called a cryptocurrency, it's nothing more than a centralized scamcoin created by an oppresive dictatorship that was looking to get around the sanctions from US and Europe. Also, the U.S. Department of the Treasury said that anyone who wants to get involved with this scamcoin could face serious consequences so not even investors can buy it. Last but not least, it should be called a unit of account since you can't buy stuff with it in that country (at least that's what I've heard).

Dexion

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there are lots of crypto that are backed up by assets. even by state assets. like petro. petro is a Venezuelan digital currency backed by state oil assets. then Rocks is a currency backed by Swiss currency. and I think in the future every country will have a digital currency backed up by the country's wealth.

HODL2090

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Quote from: Cnut237 on January 11, 2019, 06:04:06 AM

Well, stablecoins in theory are backed by the equivalent in fiat... although this is always a contentious point, and Tether is never free from controversy.

Not just fiat, there are still coins which are backed by commodity currency, some by other cryptocurrencies and some yet operate a system where they are not collaterized by any asset.

Regulations and centralization are linked with stabke coins, hence the controversy it attracts.

Febo

legendary

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Quote from: NeoAnderson00 on January 10, 2019, 05:13:53 PM

Anybody know of any crypto-currency backed by actual assets?

I only know of one crypto-currency backed by assets.

Problem with that is that you never know. There is lots coins gold backed. Stable coins are fiat backed. But do they have any Gold really. Do they have fiat stored somewhere? You dont know. So is really stupid idea to buy such coin. Buy USD or Gold not token baked by them.

South Park

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I am terrible at Fantasy Football!!!

Quote from: damberg on January 13, 2019, 06:16:48 AM

Moreover, backing or tying a cryptocurrency to another asset requires a proper valuation (and ongoing revaluation) of underlying asset. That is difficult and for example banks employ large teams to do it.

And even if such audit takes place doubts will still persist, this is what happened to tether some months ago when people began to worry if all the tether in circulation was in fact backed by dollars, everyone in tether backed their claims and said there was nothing to worry but I do not remember if an external party was given the chance to test if their claims were true so trust will always be an issue with such a coin.

damberg

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Quote from: aervin11 on January 12, 2019, 10:37:50 PM

Quote from: South Park on January 11, 2019, 12:53:22 PM

Quote from: NeoAnderson00 on January 10, 2019, 05:13:53 PM

Anybody know of any crypto-currency backed by actual assets?

I only know of one crypto-currency backed by assets.

Besides the currencies that are supposedly backed by fiat there were also in the past some cryptocurrencies that their creators claimed were backed by gold and all of them failed, if you ask me a cryptocurrency backed by anything is a contradiction, we are trying to be decentralized here and if you want a coin to be backed by something then you will need to trust in a centralized party to keep hold of whatever backs that coin so a cryptocurrency backed by something is not a cryptocurrency in my eyes.

Exactly! It won't be decentralized if the crypto is tied with a centralized asset. It's just creating a confusion that investors might get comfortable of investing because it's backed by something. This seems like a ponzi scheme to me

Moreover, backing or tying a cryptocurrency to another asset requires a proper valuation (and ongoing revaluation) of underlying asset. That is difficult and for example banks employ large teams to do it.

aervin11

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Quote from: South Park on January 11, 2019, 12:53:22 PM

Quote from: NeoAnderson00 on January 10, 2019, 05:13:53 PM

Anybody know of any crypto-currency backed by actual assets?

I only know of one crypto-currency backed by assets.

Besides the currencies that are supposedly backed by fiat there were also in the past some cryptocurrencies that their creators claimed were backed by gold and all of them failed, if you ask me a cryptocurrency backed by anything is a contradiction, we are trying to be decentralized here and if you want a coin to be backed by something then you will need to trust in a centralized party to keep hold of whatever backs that coin so a cryptocurrency backed by something is not a cryptocurrency in my eyes.

Exactly! It won't be decentralized if the crypto is tied with a centralized asset. It's just creating a confusion that investors might get comfortable of investing because it's backed by something. This seems like a ponzi scheme to me

knuckey

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If you have free time, then visit and do research on this project ROCKZ - IS THE WORLD’S MOST BULLETPROOF CRYPTOCURRENCY, because Rockz will be backed by the Swiss Franc currency.

CLywaTeLb

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send and receive money instantly, no hidden costs

None of the crypto assets protected by real assets is credible. Even security such as gold, diamonds, emeralds is often fiction. Even USDT and similar assets are being questioned.

South Park

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I am terrible at Fantasy Football!!!

Quote from: NeoAnderson00 on January 10, 2019, 05:13:53 PM

Anybody know of any crypto-currency backed by actual assets?

I only know of one crypto-currency backed by assets.

Besides the currencies that are supposedly backed by fiat there were also in the past some cryptocurrencies that their creators claimed were backed by gold and all of them failed, if you ask me a cryptocurrency backed by anything is a contradiction, we are trying to be decentralized here and if you want a coin to be backed by something then you will need to trust in a centralized party to keep hold of whatever backs that coin so a cryptocurrency backed by something is not a cryptocurrency in my eyes.

Topic: Crypto backed assets (Read 233 times)