Topic: Gold backed cryptocurrencies (Read 397 times)

All of this reminds me so much of E-gold, if anyone still remembers that.
The only difference is that now it's in the form of a cryptocurrency.

I personally don't really see the need for having a cryptocurrency that's backed by gold, as rdny says, seems like it would be difficult to prove ownership of their gold holdings

I think that these coins are worthless unless they can prove that they have legitimate ownership of their gold holdings. Also, gold is highly regulated and good luck to them for buying their stock. I do not really understand the notion of backing the token by gold, for what purpose?

The list is not complete.
not listed SMARTGOLD https://smartgold.so/
Blockchain asset based on the real gold mining. 1 SGT is equal to 1 gram of gold of 999,95 sample. Investment income fixed in the contract price. Gold standard of cryptocurrencies!
SMARTGOLD TOKENSALE IS FINISHED!
Sold - 277 190 SGT
Collected: 4 274 592$

The year 2018 can be marked as the new era in the world of cryptocurrencies as we are now having intelligent crypto coins that are also backed by a logical materiality or mechanism. We have seen some of the coins that are backed by property and others that are backed by its community members who offer certain services against these coins. https://goldbitscoin.com/ has outweighed all of the modern crypto coins as it has combined the real Gold with the Blockchain based crypto coin called the GBC. Let’s evaluate where GBC stands among some of its competitors.

1-    The stability of price

When you persuade a consumer to invest in your business, you have to show them a stable business modal.

Most of the cryptocurrencies including Bitcoin failed to deliver a stable business model, their prices displayed an extreme of fluctuation that ticked off investors. Gold Bits Coin has a stable business modal where it is backing its coin via real gold. It has already invested in keeping a certain amount of gold against its coins. This strategy has also encouraged investors to believe in the program because they know that the team is actually believing in their program in the first place.  GBC is not relying solely on the investors who buy their cryptocurrency but also upon the base gold value. GBC has a limited number of coins to create the scarcity and meet a challenging supply and demand level where the prices will keep rising with respect to time.

2-    A long-term plan

Over the course of about 6 years, we saw a gradual increase in the price of Bitcoins. We also saw intermediary fluctuation but the hike was dominant throughout these few years. I would say they got lucky as people never really knew what the digital money was and they just followed the mainstream trend. However, we see that a lot of people have a far better understanding of Blockchain and the cryptocurrencies now. Those who invest and those who mine have hefty material on the internet to go through before they set their plan in motion. Which means that a lot lesser people are investing in coins that guarantee very less and promise a lot.

This is also a reason that caused a major drop in the price of the famous Bitcoin. I say this price is not going to rise tremendously again. People are going to invest in coins that have strong baking and a long-term business plan to support the digital currency they are representing. Gold Bits Coin has a long-term business plan and one of its cornerstones is that it will invest fifteen percent of its revenues in buying more gold against its GBC and another ten percent in the research and development to make GBC an even better digital currency. If you go to goldbitscoin.com you will see the percentages they have allocated to different departments to make sure that this coin does not see the same fate as hundreds of others did last year.


Conclusion

There is a huge number of people who are ready to invest in businesses if they see an opportunity for growth and stability. Who would not be willing to buy shares of a growing business? Definitely, the business has to be backed by a strong economic modal and materiality. Gold Bits Coin combines the reality of Gold with the technological enormity of Blockchain and it makes GBC the most valuable coin of the year 2018. It is a reliable platform that guarantees growth and stability in the long term and the short term. If you buy a hundred GBC today you will get the base price of Gold and the GBC value, this value is going to increase in the next six months for sure as the Gold prices keep increasing and the scarcity of GBC as well. So, if I were you, I would not waste any more time and sign up today on goldbitscoin.com to invest in a better and secure future.

 White Paper here: https://goldbitscoin.com/pdf/Gold-Bits-Coin-White-Paper.pdf

UNIFY World - is only true gold backed token
Read more on UNIFY World revolution ICO website.

My friend, this is the advantage of the crypto currency - this is not regulated by the government! Therefore, no such bindings to resources are needed.

Nice idealism and idea! We share understanding for this. Unfortunately the masses don't YET.
If you had occupied yourself with our concept, you would have seen, that we have 3 cryptocurrency funds.

One called PCC which is live already on our platform as well as on Iconomi.

One called PICO, an ICO investment fund - launch anytime soon.

One called PAV, Angel & Venture Capital fund - launch in May.


In your case, the gold backed token is a chance to overcome unstable markets. Look at it as a "gold tether" stablecoin.
Nevertheless, it's a choice where to invest in. We just try to cover a broad spectrum!

I honestly don't trust gold-backed or fiat-backed coins. What about Havven? Pretty new project that sold out their ICO a few weeks ago. They have a dual token system where the price is stabilized through that system instead of being pegged to gold/fiat. I think this stablecoin is going to rock the economy and bring about mass adoption. Thoughts?

https://havven.io/

I dont like the idea because GOLD has been centralized for hundreds of years and these cryptocurrencies are decentralized it contradicts to each other,isnt it?It would be nice if there are some other commodities that arent centralized like,price of the oil which are not being controlled by few countries or anything that arent being regulated by the government .

A well-written argument, I like that you have an insight to crypto and I have to agree with you in the obvious misunderstanding of asset-backed gold coins/tokens with regards to cryptocurrency markets.

Nevertheless there is an important piece of information missing, that should be found in our latest version of our whitepaper, which is that we will actually exchange tokens for physical gold in selected areas.

Again: This means, that Pecunio will exchange physical gold in worldwide branches for tokens available as cryptocurrency on the blockchain!

One Pecunio Gold Coin (PGC) represents exactly 1 gram of segregated, unallocated 999.9 fine gold from LBMA-approved refineries.

The gold amounts will be audited by external firms and the customer will have both options for pick-up and for delivery.

In times of market turmoil, the PGC token will additionally be used as a tether, but with distinction to existent models of being asset-backed by real gold. We think that this is of huge advantage being an exchange with a gold backed tether.

Hopefully, we will all profit from this!

I just know DigixDAO's DGX. They are going good IMO. And this market needs that kind of gold-backed coin with this volatile.

The underlying concept is good, but I am not aware of any gold backed cryptocurrency that makes it easy to actually exchange their coin for either actual gold or the equivalent value of fiat. That results in the coins generally not being anywhere near the value of the gold that supposedly backs it.  Consider for example that ZenGold is currently worth 1000 times less than the value of a gram of gold despite the fact that each coin is supposed to be backed by 1 gram of gold. 

DigixDAO has that same issue but managed to actually be worth significantly more than the value of the gold that backs it, generally 900%-1,200%.  This is partly the consequence of the fact that many investors don't actually understand what it means for a coin to be backed by gold. This fact has been repeatedly made evident in forums in which this topic has been discussed. The other factor in the success of DigixDAO is the listing on Binance. It has become a tradition to buy DGD when BTC/USD goes down, since gold is considered to be a safe haven. Demand exceeds supply during dips and buyers are willing to pay far in excess of the value of the gold that backs the coin because they don't understand what that means.

I do not know why you have missed the Two TV project in this list. It is best potential project which can be rock in the online live streaming field. They are doing big work for promoting their project at here in this forum or elsewhere.

One of most favorite project has been listed in this chart you give here.
Karatbank is that, their bounty is still on this forum but I am very much that they got listed on some exchanges before it comes to the market.

This is a really interesting summary of Gold Coins, appreciations, well done!
An important one is missing though:

The Pecunio Gold Coin

One Pecunio Gold Coin (PGC) represents exactly 1 gram of segregated, unallocated 999.9 fine gold from LBMA-approved refineries.

Pecunio will exchange physical gold in worldwide branches for tokens available as cryptocurrency on the blockchain.

In times of market turmoil, the PGC token will additionally be used as a tether, but with distinction to existent models of being asset-backed by real gold.

To know more please visit:

https://www.pecun.io

Some of them claim that they can provide some guarantees, for example, an independent audit made by a few different third-party companies 2-3 time a year. This is just one of the examples. Is it even possible to provide investors with such guarantees? Or you can never trust such projects in your opinion?

I think it's good to have my bounty campaign now to be sucessful
 and one of these is in the crypto currency.

How I see them :
We have a coin and we also have n*m millions of $ in gold, which is nice(for us). Well you know how the markets are, they have ups and downs, sometimes they bring you profit sometimes they do not. Our gold is our and it will cover our asses in case of difficulties. But you should buy the coin, it is backed by our gold(platinum, oil, $, sheep...), here you have my word, I promise you that!

basically, just funding. It has no place in the crypto world, it has nothing to do with it and with this forum. Such projects should be put under careful scrutiny.

I agree with this poster.

Those projects are just trying to fund themselves. They do not need a crypto token.
It's 2018, nobody's buying into this bullshit anymore.
It's just "hey guys fund us, we gonna give you back all of what you put into us and more". How many of these projects are able to do this?