Gold backed coins are real?? - page 3.

cytpoway121

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Quote from: Samayuki on December 11, 2019, 08:24:21 AM

what do you guys have to say about new projects that are backed by real gold? do you know any project that is legit and backed by real life Gold and not scam? any one have information about PGpay project?

I have no information about PGpay project
But when it comes to gold backed project

I know about digital gold stable coin
It’s price is pegged to Gold and its Gold is stored in a vault
Very transparent stuff

Dyor about it

Aabcde

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Actually the idea is good but I don't believe in projects that are backed by gold. Because indeed we do not know the existence of the gold is true or not. If only claiming backed up gold without proof is easy to say. Projects like this must require very large funds, so I am a little doubtful if there is a dev that says the project is backed up in gold and wants to open ico or ieo. If so, it means they really do not have sufficient funds before and only want to rely on funds from tokensale.

Bossfidelity

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I do wish we could say for sure that some cryptocurrency are backed with gold. Most of the projects that make us to believe that they are backed by gold are not for real. Its only a deceptive tactics that is channelled on giving the project a good view in the eyes of the public and potential investors.

Xcode7

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Quote from: Samayuki on December 11, 2019, 08:24:21 AM

what do you guys have to say about new projects that are backed by real gold? do you know any project that is legit and backed by real life Gold and not scam? any one have information about PGpay project?

Hopefully the coin supported by real gold is not a scamm, I just found out lately there are many issues that are spread about coins that are supported by gold, as long as I have no alignment between cryptocurrency with gold. I do not know what happens if the coin is supported by gold because there is no mutualism between the two factors

Callanta787

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I do some digging on PGpay project I think it's not that good because they just swapped from PGTS which was trading before but suddenly after few months it has no volume again, still no sign of real gold backing the project

BartS

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Quote from: Samayuki on December 11, 2019, 08:24:21 AM

what do you guys have to say about new projects that are backed by real gold? do you know any project that is legit and backed by real life Gold and not scam? any one have information about PGpay project?

I have not heard about that particular coin but in the past there have been too many coins that claimed to be backed by gold and nothing good has ever came out of them, to me that is nothing but a way to try to deceive people.

After all even if that was true then you will be relying on the developers holding as much gold as they state and that will always be the weak point of that coin, and if it is not true then you are investing in a scam, so regardless of whether the coin is backed by gold or not you are investing in a bad coin.

rahmathidayat93

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Quote from: memedennis on December 12, 2019, 11:49:52 AM

there is one that i know of , Digital Gold , one coin is equivalent to 1 real physical gold. i think they are real.

Friend can include references, if digital gold is real ?, Because I've also heard of digital gold but don't think that digital gold is really real, and the price is equivalent to real gold.

nancy

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Gold backed tokens are real but useless in opinion. Its much simple and secure to buy gold/ gold eth

ashmodeus

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well , i hear that project recently , also i got email too about it, but I haven't done any research about the project.
but , lets have discussion , did u think that project is quite logical to become real ?
i personally says its ok , no matter,even backed by diamond.
the only problem is what a proof for it ? and that why u must do some research for it.

Dalmar

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Activity: 1106

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Life is short, practice empathy in your life

Unless the project has enough decent profit for explaining the 100% backed up altcoin, I will never put my money to that coin. Instead of using 50% chance of going up, these altcoin go lower price points. It turns out to be a game for the safe heaven looking investors and they will leave that project for one another in bull market.

memedennis

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there is one that i know of , Digital Gold , one coin is equivalent to 1 real physical gold. i think they are real.

danherbias07

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Leading Crypto Sports Betting & Casino Platform

Quote from: Bitbtc8 on December 11, 2019, 12:52:18 PM

Honestly all coins that are backed by real gold should be the most profitable coins on CMC today but all of them have no good value, the answer is not that hard to see, there is never a real gold involved here, its all lies

That is a good one. It might really be all lies.
Merit.

Quote from: confreslamp on December 11, 2019, 01:00:36 PM

Most likely not, but for sure there are some projects that backed some part of their tokens with Gold. But I can hardly imagine that a fresh ICO is able to back 100 million tokens with Gold even before the token sale launch.

Yes! If they have the money to buy all that gold why the hell do they need to waste much effort into making an ICO.
If I am the businessman then I would rather not. You will just pay up for another team then bounties then listing and a lot more.
I wouldn't go that far.
Oh and also, you will be noticed by the government into why the hell you have that lots of gold. Grin

acdc

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Quote from: Samayuki on December 11, 2019, 08:24:21 AM

what do you guys have to say about new projects that are backed by real gold?

Up to now, there are quite a few projects that claim to be supported with real gold. However, I myself do not put too much faith in such projects, because we have no way to verify the reliability of the news that the project offers.
Coins backed by gold look no different from other coins, they can disappear and people will lose all their money.
If we like gold or oil, why not buy a stake in those companies?
If I have a project coin, how can I exchange it for real gold?

xZork

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There are quite a few projects claiming that their currencies are backed by fiat or gold or oil, I can list some projects like Venezuelan petro that are backed by oil (however the coin This failed because it did not win investors' confidence.)
Another extremely successful currency in the market is USDT (this currency is supported by USD).
The most recent gold-backed coin I know of is the Gold Stablecoin, the YELLOW token used to buy gold and digital storage with anonymity.
You can go to their homepage to learn more: https://gold.storage/en/home
Currently GOLD Stablecoin has a huge bonus program in place, you can participate and help them advertise the project.
https://bitcointalksearch.org/topic/bounty-gold-stablecoin-200000-payouts-in-btc-eth-gold-5164058

Henrytrust

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Quote from: Samayuki on December 11, 2019, 08:24:21 AM

what do you guys have to say about new projects that are backed by real gold? do you know any project that is legit and backed by real life Gold and not scam? any one have information about PGpay project?

When I hear projects say that their tokens are backed with pure gold, I personally don't believe. Most of the projects in the past who claimed to be backed with gold went through the same fate as others who weren't backed with gold and their value dumped tremendously despite the fact that they were backed with gold.

terizla

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I only know Digital Gold. The good project backed by real gold. 1 Gold token = 1 grams of fine gold.
This project is good and in November, total trading volume of Gold is exceeds 50 million USD.

Febo

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Quote from: Samayuki on December 11, 2019, 08:24:21 AM

what do you guys have to say about new projects that are backed by real gold? do you know any project that is legit and backed by real life Gold and not scam? any one have information about PGpay project?

I think XAURUM was first. They launched around 2015. They should have gold but. Why trust third party with your gold? What is the point? You just rick when you will want your gold they will say fuck you and not deliver. Why risk if you dont need? You just go to gold store and buy some gold and that is it. Or some gold website. Most take Bitcoin and give you even discount when use Bitcoin. Buying any real world backed cryptocurrencies is super dumb. Blockchain is to secure digital asset and not real world.

huu78

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I don't know what the PGpay project is, which I know is no support for a real genuine product for digital. Like GOLD stablecoin They are just a digital currency and I think there is no support from real life.

tenakha

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Quote from: Samayuki on December 11, 2019, 08:24:21 AM

what do you guys have to say about new projects that are backed by real gold? any one have information about PGpay project?

I have looked at the project and the team a little bit, obviously I did not encounter any problem, but not as solid as it should be. So to survive in today's market, you need to be better than the old ones, but I did not come across anything that could keep project solid.

Quote from: Samayuki on December 11, 2019, 08:24:21 AM

do you know any project that is legit and backed by real life Gold and not scam?

If you are looking for a reliable gold backed project, check this out: https://www.paxos.com/paxgold/

Pearls Before Swine

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Quote from: fortunecrypto on December 11, 2019, 08:43:30 AM

I don't know if there are coins, backed by gold before Xaurum.

If that was in 2017, I doubt it although I think I remember the concept of a gold backed crypto being discussed before that.

Anyway, I would be *very* careful about a project that purports to make a crypto asset that is backed by physical gold. The basic problem is one of auditing the gold held by whoever is running the project. That same problem has cropped up in other digital representations of gold, because those have existed before bitcoin came out. I think there was something called Egold that sold shares, and there were a few others if I'm correct.

The other issue is that crypto doesn't need to be backed by anything. Even fiat doesn't, so what would be the advantage of having a cryptocurrency pegged to some gold holdings? I don't see the value in that.

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