The chances are high that it will not be a good idea. Given that gold fluctuates, it might be the opposite of what was planned for it.
Topic: Discussion: Crypto backed by gold, what else? - page 4. (Read 533 times)
The US dollars are not backed by golds. But still it holds a a dominance in the world. So, I don't think backing up why gold is a solution to anything. It must be potential enough to make a change in the market.
This is not a good idea that backing up gold based on this it is also bad idea I think and we all know how crypto actually work .
Backing up with gold is not a good Idea I guess based on this we all know this coin is work and I think it will not work based on this.
When market condition or market prices are slightly lower, many efforts can be made to start upwards in different ways. But the market needs to be monitored in advance in the of Bitcoin and digital currency also.
I always think that every things which are accepted by majority of people should be backed by gold. Gold is the most precious metal so it can make the trade safer than as usual.
I think Yes it will work like ether in my opinion. There were already many projects that offer cryptocurrency backed by gold. Also I had joined a few bounty campaigns of their ICO. But the tokens have yet to be listed in exchange.
I hope that Bitcoin will soon be going upwards and its investors will benefited. In that case, there may be a need to make such a big decision. I hope that we will soon see the face of profit.
If this happen you should aware about scam. If crypto market backed by gold, there is high possibility to get scammed.
Maybe it will. Because i have already seen some ICO accept gold mining. I think in near future crypto currency backed by gold.
It will be great. Trading cryptocurrency with precious metal like gold won't be a bad deal. I think it will make cryptocurrencies more acceptable in the whole world. Because many will be interested to deal with gold.
crypto are more reliable and potential in world. it is more secure and profitable online trading platform. it is more popular in the world that's why it is come back at any time with more profit. its future are more bright and probable.
yes crypto will come back and make more profit because it is more reliable and committed to ensure profit for investor. its future are good. if you analysis past year crypto market flow chart you will easily understand that.
crypto are popular and useable in the world. it is more secure and profitable market. it will make sure your profit and it's also committed to provide better service. that's why it will be come back and complete their goal.
It is not a good idea. Crypto is backed by math and it is beautiful! Also a gold is more decentralized than any cryptocurrency so it is no needed to be tokenized. So I do not see the sense for launching that project.
They are talking about cryptocurrency backed by gold here - http://cryptoandblockchaintalk.com/cryptocurrency-backed-by-gold-26
Will it work? What else could be used to back crypto and why would it work in your opinion?
Will it work? What else could be used to back crypto and why would it work in your opinion?
Actually you can back it up with anything that have value . Lets say tetherUSD is backed by USD in reserve account , thats why it always is same price as USD . Somebody soon will make crypto token with backed lambos and actually it can work lol
well I have been hearing lot of discussion about this topic but the fact is no of them seems very valid to me cause we still didn't get any response about this topic from the authority, so I will suggest you to not to get influence by any rumors until you have the proper reasons to believe
Pretty much any widely traded commodity could be used, Gold is the most obvious, but other rare metals such as Platinum, Silver and Rhodium could work. Hell, you could even back the value of the crypto with Nuclear ore or antimatter, though I doubt people would care so much.
really! I don't think anything like this are happening cause cryptocurrency and gold both are very different platforms and they don't do business together, well in the future situation can be changed but right now gold and crypto doesn't have any direct connection
If cryptocurrency is really backed by gold, I think it will definitely increase the adoption rate of the cryptocurrency. People will find it more reliable as they can compare this currency with something that has physical value everywhere.
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