Topic: Gold Guarantee Coin ? What you think (Read 171 times)

I think they only claiming to have those backups since they don't have any proof at all like videos when they arrange their golds or something like that. there's nothing they can prove and in this case, they are all just talking and carefully putting the bait to lure those newbies who think gold guarantee coins exist in this industry. Nevertheless, it's recommendable to stay away from this kind of project even though you are a risk-taker because this is obviously a scam unless they prove their claim that they are currently really holding those amounts of gold they are talking about.

I agree, I mean I can understand that some people may deceived by something like this and may be tempted to invest in a coin with those characteristics, but the more you think about it the less sense it makes, one of the reasons behind the creation of this market is that governments promise to keep their printing of their currencies under control and keep inflation low and they never do, relying on a central party to keep their promise of keeping a certain amount of gold behind their coins goes against what this market is about, and that alone should be a huge red flag and people should stay away from any project which tries to do something like this.

This has been tried a billion times already, since gold is not internationally exchanged as easy as USD, it doesn't work. The idea of USDT is that we could just give it and get the real dollars into our bank accounts, meaning that we could cash in on that anytime we want on 1 to 1 ratio and that will work.

You can try to find any method you want, but it will never be gold backed, not going to be 1 ounce to 1 ounce ratio at all, because there are international laws that prevents a company to give gold to someone from another nation. Hence, we should always consider this idea as a pipe dream that will never work and should not even be considered.

This has always happened here, there are too many projects that look promising and now, they claimed it's backed up by gold?  
The hype will lead you to lose your money if you don't have prior research on it, don't fall into their sweet promises this project I've seen nothing especially and doesn't have even a good utility.

I suggest, staying away from this project.  I rather have full support with Bitcoin than this which makes any sense.

The minimal risk makes it sound scam and even bitcoin cannot give guarantee to its holder that they will earn in future so anyone claiming that is are sounds bullshit to me. There are many tokens and coins claiming to be minimal risk already but none of them survive at this point so we can guess that the one you are promoting is another shitcoin which want to be relevant on their launching and trying to fool people to get more sales.

Don't be fallen with this shit. rather than called gold guarantee coin as a legit token and i will prefer to call this may become another ponzi scheme. There's no guarantee and all of it was only gimmick created by the developers. people have reliable gold token in the market and why do they need to stick into this new token with so many suspicious things on it? I know that if you just try to promote your token but you can do that even better with a legit project.

Hi, OP;

That "something" is stable and is based on a reliable reference does not guarantee that "something" has the reliability of its reference, that is where financial illusions are created, be careful, there have been many cases.

Paxos Gold and Tether Gold are both well known company that offers a crypto-backed gold with an audit. Maybe you got scammed by many scam project before with same idea however don't generalized your assumption since there's still legit company that can manage to create token that backed with there reserved gold. Paxos and Tether are known for there rich fund from there investors, I doubt that there gold audit is fake because they already have a reputation that needs to be protected.

https://paxos.com/paxgold/
https://gold.tether.to/

GGCM was pretty much like scam token. That will be launched its sale soon lol and this garbage project was offering huge passive income from the NFT. This sounds bullshit. There will always be an operational cost to mine the real gold. This sounds like another scam project soon. GGCM was another shitty token that claimed to be backed or used gold to back it. This is a garbage project lol. Gold storage was even better. It sounds like you are shilling for the scam coin.

Because Gold has been considered a precious metal that has value and is also valuable in general, it is natural that until now there are still many people who like Gold and like trading Gold because the advantages are very clear. And if you are looking for a trusted site for Gold information, then I will suggest you several sites on this occasion;

https://harga-gold.org/
https://www.logammulia.com/id
https://www.anekalogam.co.id/id
https://www.indogold.id/harga-emas-hari-ini

For me its hype. Also by its name guaranteed coin, is sounds so scam.

Let me guess, the vission of this coin is to guaranteed profit right? Obviously all the other features are likely the same with other project out there, so why would I choose this one over those that already offers the same and with established name already in the market.


Im not sure if anything are backed by gold but has been a lot in the past but not sure if there are legit one that really supported by gold.

No one will even believe it when Russia says their ruble is backed by gold. This itself is a government and are capable of protecting gold reserve in a vault but trusting them to have gold reserve backing their ruble may not be easy to believe. Least of all a crypto team.

This had been  tried before if I remember back in 2016 projects and I  can't see those tokens anymore. Even the threads they created does not emerge anymore in the forum.

gold may be an asset that has been traded since several hundred years ago by our ancestors and is still of interest to this day. perhaps nowadays many of its forms are mutated in digital and applications for trading following the price of gold in the real world.
can you give me the official web site of the gold developer?

the points you stated really make new investors look for investment continuity. considering that in crypto not all of these points are felt by traders.
if you want to add to your experience maybe when buying these types of tokens in the future.?
will add insight in the thread that is written.

"Guaranteed". Lol I don't buy it.  So what happens when "the dev team" splits and takes everyone's bitcoin or whatever else they are selling theor token for.  If you want gold just go buy gold.  Why would you need a shady altcoin that promises you x amount of gold.

It is true this is not a new idea at all and we have seen a great deal of similar projects come and go, besides it does not makes sense to buy any token supposedly backed by gold, if you want gold then buy gold bullion directly and then hold it, the logic behind holding gold is the same we use with bitcoin in which we just buy it and hold it too, we would never buy a coin backed by bitcoin when we can use bitcoin directly, so why we should do this with gold?

Excuse me, please check my signature.

Well, when it comes to gold, at least it attracts a lot of attention to me, I also know of a project that has been maintained and that has to do with gold, it seems to me that it is a solid project and despite all the disaster that has had the BTC market it may be that we are on a very good path, although these projects over time if they happen is my direct alternative to trust after the stablecoins, I could not say that the gold or gold-backed projects are all bad or they are not valid, because I am not like that, I think I would give them the go-ahead, but even so you need to build a very good reputation, I think that would be the first step.

I've seen dozens of similar projects. The assumptions of the majority were to collect money from users and buy physical gold for it, of course, after deducting appropriate commissions. I do not know that any of these projects survived on the market. Most of them were obvious scams, and others were caused by legal regulations, logistic or simply low interest of users.

A cryptocurrency that has any link to gold or claim to be digital [insert asset], will require massive overhead, regulatory oversight and ties to the established financial system.

You will need to hold physical gold _somewhere_ . That facility would have to comply with all the national and local laws, be audited, insured, the asset physically stored, etc. It will be a registered company someplace, It with bank accounts, lawyers, and Lord knows what else if the intent is to have a cryptocurrency redeemable for physical PMs.

Shipping, employees, payroll, HR Departments, office space, diversity consultants, etc.

I see no opportunity to add value to the current precious metals ownership structures. In fact, all I see is added costs for no meaningful benefit.

Excuse me

There is no crypto project that's really backed by any gold, it's all lies, out of 100% gold companies around the world see no reasons to launch their tokens or sort but in the crypto space scam developers are using the name GOLD to fool people.

Gold is the only currency that has ever been considered valuable throughout the entire world. Commodity traders use gold as a universal measurement standard, investors rely on its long-term value, and now it can be used to purchase goods and services, without the need for banks or credit cards.

At a time when people are losing faith in the US dollar and other fiat currencies, GGCM was launched an innovative blockchain based project that backed up by real gold!

GGCM offers several real-life utilities for their holders such as NFT shares, risk minimization, and more. Let’s see what are these utilities one by one.
1. NFT SHARE SYSTEM
GGCM will create a rental-NFT for each GGCM mining share and has set a price for those NFTs in USD. These NFTs are intended to represent 70% of the mining revenue of GGCM, divided into a certain number of shares.

More details on NFT shares 👉🏻 See the blog post.

2. VALUE APPRECIATION
Have you been looking for a safe-haven asset to have in your portfolio? As markets fluctuate and the stock market reaches all time highs/lows, it can be hard to find a place to park your capital that is guaranteed to protect your value.

This is where GGCM comes in — it was designed as digital gold, and now there’s a new way to own physical versions of this cryptocurrency.

Owning a gold-guaranteed cryptocurrency can help you balance the risk of traditional investments with the safety of gold.

3. MINIMAL RISK
Whether you are a seasoned cryptocurrency trader or just starting out, chances are you have experienced first hand the wild price action that the crypto market is infamous for. While this can be exciting, it also poses risk to investors who may not fully understand how to mitigate risk when investing in volatile assets like cryptocurrencies.

The cryptocurrency market is prone to significant price volatility, making it risky to hold any cryptocurrency as an investment asset. Our gold-backed tokens protect you from this risk by protecting the value of your assets from fiat currency volatility.

4. ZERO FEES OR CHARGES 💰
No fees or charges will apply to your trades and transfers (The fees and commissions charged by the exchanges will apply depending on the cryptocurrency exchange that you use).

5. MORE SECURE
GGCM has the necessary legal permissions and licenses to operate in Mongolia.

Investors around the world are searching for new opportunities to invest their money, and many of them are turning to cryptocurrencies. As an increasing number of individuals invest in digital assets, so too will the demand for improved security.

The GGCM aims to provide financial solutions that are based on the system of gold, which will stay with you through all market trends and allow you to access your savings at any time! ⏱💡