I have seen such projects in the past few years, but they don't last for too long. After a period of operation, those projects have collapsed or become scams in this market. If you want to invest in gold, it is best to invest in real gold
The same thing I have seen also! Those projects like this attracts people by using tangible assets such as gold, silver, etc. However, it can't have enough ability to grow strongly in this cryptocurrency world. In my opinion, gold-backed or fiat-backed projects only can play as a medium of exchange or store-of-value in this market (aka stable coins). They can't have too much grow because they're directly related to the changes of the real assets that back them. 
Topic: Don't get robbed by something you don't fully understand - page 3. (Read 568 times)
I think it is better to invest in real gold than to invest in the gold project because if you invest in gold, you can have the physical material of gold, and you can hold that gold for a long time. If you invest in the gold project without your research about the project, you will have a chance to get a scam if you can not select the right project. The problem is sometimes we are difficult to find that project because almost all project has similarity between the other. So you need to be careful and research first before you invest.
True! I don't understand why people choose to invest in gold-backed projects instead of real gold. I guess maybe they think gold has the strong potential to pump and so are the gold-backed projects, and they want to be successful in this cryptocurrency market. However, it's not safe to do so without doing a lot of researches. I strongly recommend everyone to look carefully into those projects before investing for your own benefits.
I've seen some projects who are backed by gold or gold mining companies. I have heard any of it being successful. If it's gold you want, then invest in gold directly. People are getting interested in this kind of project because of the word Gold. That is why this kind of project scheme doesn't get old.
I have seen such projects in the past few years, but they don't last for too long. After a period of operation, those projects have collapsed or become scams in this market. If you want to invest in gold, it is best to invest in real gold
I think it is better to invest in real gold than to invest in the gold project because if you invest in gold, you can have the physical material of gold, and you can hold that gold for a long time. If you invest in the gold project without your research about the project, you will have a chance to get a scam if you can not select the right project. The problem is sometimes we are difficult to find that project because almost all project has similarity between the other. So you need to be careful and research first before you invest.
If I had to choose, I would prioritize investing in real gold, because in my opinion, the risk is high if we exchange it for a token that is said to have been made by real gold. Nobody knows in the future.
"Lure". That's the right term for it. Since gold has a good name and reputation, they come to a point that bragging the name of gold in their project will make them gain the trust of investors. In fact, some may believe that it is really associated with the real gold. It somehow misleading and to think it will ended up just like the other coins that it may be the hype at first but quite not successful at the end. Whatever they'll put gold at thr coin's name, what's important is the potential of that coin in this crypto market.
If there are some people here in cryptocurrency got scam that is because some of them are greedy.
Now, if for you that having no knowledge about here is equivalent of being rob, well in that case it is obviously
your opinion or speculation only. But honestly, you have a point in that matter some of it are correct and true and
some are not.
Now, if for you that having no knowledge about here is equivalent of being rob, well in that case it is obviously
your opinion or speculation only. But honestly, you have a point in that matter some of it are correct and true and
some are not.
That's why we need to carefully read and understand the project what we are up into. Because there are a lot of projects that is mentioning skme of their back ups yet it's not true, just to add up colors to their projects. So we must be aware on this kind of project
You have highlighted the whole truth. I have heard a lot and seen a lot of gold tokens which were claimed to be backed by real gold but none is still standing till today. Some exited scam right from their token offering and many are still coming up with same idea, thus scamming those who aren't informed. Just like you said, gold is gold and it is very valued which is why the gold companies have little or no interest in all the gold tokens being created here because there is a very big difference between them. Lastly, most people will continue getting robbed until they understand that all these gold tokens are just out to scam them and nothing more.
People's interest and trust in gold are the ideas of scammers to launch their new actions. In this case, anyone can be cheated, especially for those who want a real and tantalizing profit. Here, we are not in the basics. basically, we really have to be wary of projects in crypto. Therefore we are advised not to be covered to receive a sizable profit. However, this must also consider the status and also must be thoroughly analyzed related to the truth.
And they took that advantage knowing that people will show huge interest when seeing backup by GOLD. How pity is this. Scammers will do smart things that we thought it is legit that is why they still have a lot of victims even we have all the awareness. Its something to know that they become more aggressive as the market demand and adoption tend to grow. And those investors who would are greedy and like an instant rich, this could be for them...lolThe market seems too tricky at this time, that is why we should be more vigilant. We can't deny that scammers are smart that even how much we would like to stop them but still, they will find a way unnoticed.
Many People have learnt from the past I mean there are real ICOs that looks really promising that concern cryptocurrencies, later turns out to be either shit or pure scam So I think bringing Gold is not even a good investment but still if there will be, then you have to make sure is fully back and the Company is a registered one with money back guarantee any time if not dont waste time believing inspirational whitepaper
If it is all about money many people are greedy and scam others just to gain funds. That is why before we go investing we need to search first and find any supporting documents that the company, project, etc., are legit because if we invested without understanding we maybe get robbed or loss everything. So if the thing is include money we need to be more careful so that we can avoid unnecessary losses.
What if it is well proven and there re evidences that July, it is backed by really gold, i think there is nothing wrong in believing that. Although, most of them lie about their claims and just very few or maybe one at the moment is able to truly prove that.
A project that is a able to prove that for ore than a year and is still steady, i think should be commended alongside a legit audit done by a legit company.
A project that is a able to prove that for ore than a year and is still steady, i think should be commended alongside a legit audit done by a legit company.
Depending on the way you look at it, but this is the real truth. it's just a way to give equivalent value of gold to a token by assumption. If you can believe in it. You can buy into it. If not just leave it out.
People's interest and trust in gold are the ideas of scammers to launch their new actions. In this case, anyone can be cheated, especially for those who want a real and tantalizing profit. Here, we are not in the basics. basically, we really have to be wary of projects in crypto. Therefore we are advised not to be covered to receive a sizable profit. However, this must also consider the status and also must be thoroughly analyzed related to the truth.
To be honest, even if a project is showing their documents stating the possession of gold, I believe that you will never know the real intentions of the developers. So there is always the possibility that their gold token or coin will end up useless once they decided to abandon the project. So on our end, we really can't fully analyzed what's going on with the project because we are basing all our insights on what we are seeing on this cyberspace. So the best approach when it comes to owning gold, is indeed buy the physical one and you can never go wrong with that. It will never turn to a useless coin or token because you have the actual metal in possession.
People's interest and trust in gold are the ideas of scammers to launch their new actions. In this case, anyone can be cheated, especially for those who want a real and tantalizing profit. Here, we are not in the basics. basically, we really have to be wary of projects in crypto. Therefore we are advised not to be covered to receive a sizable profit. However, this must also consider the status and also must be thoroughly analyzed related to the truth.
I think you are right. Scammers are taking advantage of the popularity of gold and silver and creating Ponzi projects with blockchain technology. I think such precious commodities should be kept away from tokenization. There is simple logic that in the first place these commodities are very expensive and again digitizing it costs more. So even if any project is legit, I doubt its existence in the long run.
I have seen that one of defi platforms, Synthetix, allow users to invest in synthetic assets that represent gold, bitcoin, dollars and others.
Are you talking about this kind of project as well?
https://www.synthetix.io/
As far as i know synthetix is completely legit and you can see its value is skyrocketting as well, people trust this platform that is why it has become a top platform in no time. I think what he is referring to is the new projects popping up and claimed to be backed by gold and he is right that not every such project can be trusted so community should be careful. Are you talking about this kind of project as well?
https://www.synthetix.io/
I have seen that one of defi platforms, Synthetix, allow users to invest in synthetic assets that represent gold, bitcoin, dollars and others.
Are you talking about this kind of project as well?
https://www.synthetix.io/
Are you talking about this kind of project as well?
https://www.synthetix.io/
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