Topic: Gold-Backed cryptocurrency with Passive Income - page 2. (Read 545 times)

Regarding how this project can be trusted, please see my comment below yours. I replied to someone else about how you can research any project and this one in particular.

Otherwise, you asked about the community, you can also ask all your doubting questions in a community chat and I'm sure you will find the answers there. Join any time: https://t.me/globalreservecoin

I agree with you, that if we use probabilities, then statistically 99% of projects listed on DEX are scams or have no strategies to build up their project. However, you chose this criteria to analyse my project. I think this criteria means nothing and doesn't help analysis, because you can say that any project that lists on DEX first is useless. It's a lazy way to do research. As a psychologist, such an approach is most common among people, as they prefer easy automatic processing.

Instead, it's important to check all the information about the project, people behind it, roadmap, watch explanation videos made by developers (there are hours of content about our project explaining every little detail) and ask developers doubting questions. Weigh the info against the statistics and then make your own decision. This is a harder way, but critical thinking will help you find real gems and avoid scams.

Crypto currency backed by gold is indeed a good project. But my question here is how can all of this be trusted and transparent? And speaking of hype and community, to be honest I still haven't found any community for your project (let me know if I missed one). Because if a project has built a solid community base, it's only a matter of time for the project to enter the big market.

I agree, there are some projects which start their way on DEX and end their way on Binance. For example, PEPE project made such way just recently and it took only 1 month to do it. This is an incredible result. We are talking about individual cases that break the standard perceptions, but if you look at the whole situation, many projects that start their way on DEX, they end up there, or go to CEXs, which are little-known compared to those CEXs that we are used to hearing about.

Oh I think theres a lot out there started with dex like pancake, and uniswap got started with dex. Especially some memecoins or some airdrop retro projects with literally have potential or honestly speaking got some monster volume. Its all about huge volume. Right now, there are potential projects that are gonna list with the likes of Binance with no charge. Ive been staying on dex mostly so I knew which one is started there and suddenly listed on big cex. Mask, people, shiba, pepe, bkex, yfi, comp, ape, crv and many more. These are highly unknown before and only lurking on dex. So how come it rarely happened. These projects rarely pay off listing fee and only listed by cex on their own accord. Want some potential listing insight? You heard of pendle finance? Not listed on major cex but only on dexes. Im not gonna suprise, one day Binance will list and other big ones. Its not just about how they start but how impactful they leave marks on community. Thats how hype and potential projects on dex become a cex aces.

It is also worth bearing in mind that if a project originally appeared on DEX at the same level as pancake, it is unlikely it will be further traded on the top centralized services. This happens very rarely. If you initially had no budget to launch it on a well-known exchange, it is unlikely that this budget will appear in the future. I can not remember a single well-known project, which would have started its path, first with DEX of the same level as pancake, and then got a listing on binans, kukoin, etc.

In terms of retrieving gold, I explained in Youtube videos, where I'm the founder of GRC, talking about gold reserves. At this stage in time it's not possible to exchange GRC for gold, as there are so many anti crypto regulations in different countries  especially USA. But I can see with the current economic trends (decline of USD, hyperinflation in Western countries, global housing crisis, wars, rise of BRICS nations) that starting from next year, gold reserved currency will return. All the federal banks over the world are stacking up on gold at the moment in 2023. So, I see that I would be able to open up stores where people can exchange GRC for gold in the near future.

Until then, I can use gold (only if holders vote for it) in the next bear market to buy back coins and stabilise the price of GRC, so it doesn't go down with other coins, making GRC more stable and secure.

In terms of your example, I understand that prople have been scammed a lot. I also invested in rugpulls before and lost my money. You say Xarum team. Do you know the team's full legal names, age, where they live, how do they look like and how does their voice sound? If you do, you can report them to police and start investigation and return the money. If they were anonymous, I don't know why would anyone invest in them. Our investors have all the information I just mentioned about me. If anything goes wrong with the project or gold reserves, the police can find me easily. So, that's how I prove that I don't have any malicious intentions.

There have been several Gold backed projects in the space before, tokenized Gold, the one that comes to mind is Xarum. Gold is more like a stable coin, if I want to hold gold, I will rather buy in the market than hold all these useless Shitcoins that are not backed by any gold, even if the Gold are real, how in the world am I going to retrieve them. Xarum team then claimed they have these Gold, but the project just vanished from Crypto space maybe the team has cart away our Gold bar.

Some projects that are startup are really gonna depend on dex like pancakeswap since the payment for cex is so high and expensive. You are right that mostly project can easily list there so as to other dexes on other chain. Since its a dex, a decentralized one format. If theres too much restriction or requirement we cant call it decentralized like big cex are doing upon listing. I may not comfortable with the project he have but he got a point about pancakeswap. No dex on bsc can match this, and it pretty well known on the altcoin ecosystem which I am aware too. Ive been using it eversince so I knew it is the top dex for bsc and its pretty popular even its swarmed by scammers.

I can not fully trust PancakeSwap due to the fact that this exchange has already been hacked once, after that my trust in it disappeared. I also can not trust projects that are listed on PancakeSwap and nowhere else. From my personal observations, most of these projects are low-liquidity junk tokens that no one wants. So why are they so often concentrated on the PancakeSwap exchange? It's very simple, because of the ease of listing on this platform, anyone can place their coin there and completely anonymously. Perfect conditions for scammers of all kinds.

All the flaws that Defi Security mentioned are not flaws but potential risks. Dextools and other sites give 100% reassurance that it's not a honeypot. The function for honeypot that is mentioned on Defi Security is the following: if I renounce a contract, which I will never do, the creator of a contract can add liquidity pairs to my token. That is important to continue for the coin to exist and add new liquidity pairs to tax exception when they are created. That is only if I renounce a contract, which I will never do.

In regards to blacklist: that was important for presale/fairlaunch, but we never did it. We provided liquidity straight away, so that function is useless for me.

Taxes can be modified. That's true. Max taxes that can be set is 15% on buy and sell. I will never increase the taxes, only decrease.

Max wallet is currently set to 4% of total supply to protect against the whales dumping price, since our liquidity is low. We will be increasing that percentage as we get more liquidity.

And liquidity is low, because we started with $300 in liquidity and now it's around $5000. Moreover, 2/3% tax goes to liquidity generating which is over $1.3k. So that means if everybody sells now, our liquidity will be around $2k, which is still awesome. So we are never afraid of people selling.

Okay thats nice. But thats off chain activity.

How about this one?

If this was audited how come a popular smart contract auditor and one of the biggest defi security project found a lot of bugs on the smart contract? Good thing I always used this particular feature of them to check for vulnerabilities.

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https://de.fi/scanner/contract/0x8e4653ef0f8ce731653192bb642d5347ccec2c6a?56

Click the link and check the flaws of the grc smart contract. Theres a finding that it can be modified to a honey pot. Can you explain why too many red flag on the contract?

Yes, all purchases of gold will be documented and visible to the public. How can you do it any other way. I must be transparent, otherwise it doesn't work.

I'm leading this project alone, as the project will be so big and important. I cannot trust anyone and there can't be any conflict of interest. That's why projects like this can only be lead alone. I take full responsibility for my holders. But, I'm not doing this project alone. I've got many people I can trust and who do a lot for this project, because they believe in the cause. You can meet them in the TG group. These holders are with me from day 1. And they don't care about the price going down at the moment. Up or down is good for GRC, because we got more money for buying gold and holders get more passive income in BUSD.

Oh so are you planning to have this documented or visible on the public too? Like purchase order and the facility reveal? I think thats a lot of money to spend, yeah definitely will need to wait for that progress to see the full dedication first.

You dont have a team working on this? Only you, how can you possibly make this successful alone.

It's not listed on Pinksale. It's listed on Pancakeswap. We locked 100% of liquidity for 6 months at Pinksale. We listed on Pancakeswap because we are bsc token. We chose bsc network because for token with a tax, bsc offers very cheap transaction fees and it's a widely adopted blockchain.

I share with you the dislike of memecoins. But, I don't agree with your assessment of GRC being one of the shitcoins.

All the information about the security of token and gold is on the official website and my identity is not anonymous. I'm the founder of the token and I'm the only one running this project.

Thanks for your comment 👍

This seems to me like either it's a template response or you a new to cryptocurrency, sorry for the term.

I have no idea what you mean by "you already get our money when we buy the token". I put 100% of tokens into liquidity when I launched a token. I didn't do farilaunch or presale, I put my own money into it. So when people buy GRC, it all goes into liquidity. I get 0. So, I get 0 from sales. That's why there is a marketing tax, so I can use some funds for marketing.

All these taxes are awesome in their own way. Holders get passive income, GRC price stabilises and increases through lp generation, GRC gold reserves always grow and back the token and marketing funds used to spread awareness and increase the token price by increasing number of holders.

So the rest of your paragraph has no meaning.

Moreover, I left the tax modifiable so I can reduce it in the future, and leave only gold reserves tax.

The transaction tax is very discouraging.



 Imagine the moment I buy the token I already lost 10% of my holdings.  Then another 12% if I sell it.  This is a typical shitcoin feature.  Sorry for the term but I think this is a broad-day robbery.  You already get our money when we buy the token then why do you get our token to fund the suppose to be your expenses in developing the product?  Where will you use the money you get from sales then?  Isn't the collection supposed to be the one to support these plans?

Are these comments automatically generated?🤣

"Token is crashing" ok mate. There is $5k in liquidity with $300 initial liquidity. People are buying and selling as they wish. Bitcoin and bnb also crashing ay?🤣 GRC can't crash with 240 holders. There is nothing to crash🤣

In regards to CMC warning. Yes, the contract fees can be modified by me. I explain extensively why so in my Youtube Channel and Whitepaper. Mainly, so in the future I can leave only gold tax and remove other taxes to make coin more tradable.

I'm not even going to comment on "They don't have a website". It's right there in my Topic post 🤔

? The first sentence doesn't make sense to me, sorry. You can read the contract and check all contract transactions. The passive income in the form of BUSD goes to token holders. More coins you hold, more passive income you get. Many early holders already got their investment back, you can ask for testimonies. Moreover, as a creator I don't possess any coins. I locked all 100% of coins when I launched. And we have antiwhale mechanism at the moment. You can only own 4% of the total supply. That's why we don't have whales who can dump the price.

I'm sorry about your bad experience in crypto, but that just means that you made poor choices and didn't do your research properly, investing in scam tokens, instead of legit projects.

We are generating passive income from tax. All info is transparent on the website.

No liquidity? We went from $300 to $5k in a month with 0 advertising. I know it's not much, but we only starting. The time will show, if we are legit don't rush.

And no I can't dunp the coin, because I don't have any.

It really is a red flag, this token is crashing if you're an early buyer and you're still holding this token you are losing your investment.
There is also a warning by Coinmarketcap


https://coinmarketcap.com/currencies/global-reserve-coin/

If you have these two signs the price is crashing and there's a warning from the market aggregator the best that you can do is to ignore or dump this token they don't even have a website where to see details about this project.