Topic: The coin that is supposed to take on Bitcoin..... - page 2. (Read 2286 times)
Looks like all the other gold related alts will eventually earn themselves a wee mention on here. The fact that no one has heard of any of them might make for a minor hint.
Check out HOPE Gold Coin, the first altcoin backed by real gold, while ecologically preserving their historic mine.
They will be producing an epic worldwide concert for charity late this summer, if all goes well.
It will be held in several cities & simulcast worldwide.
Now that's intrinsic value, LOL.
If you're charity-minded, some proceeds from their $10 coins go to charities.
Donate the coin directly to any charity & you multiply its charitable value.
They will be producing an epic worldwide concert for charity late this summer, if all goes well.
It will be held in several cities & simulcast worldwide.
Now that's intrinsic value, LOL.
If you're charity-minded, some proceeds from their $10 coins go to charities.
Donate the coin directly to any charity & you multiply its charitable value.
I doubt this coin will ever get successful and replace bitcoin. Its just too centralized a scheme and who would guarantee that the issuer or backer will not disappear in the long run.
well as far as i am concerned, there is something alike if im not wrong. there is bitgold on where you could buy gold using bitcoin 
I actually wrote on this as one of my articles for a Wallstreet Journal project in a microeconomics course, let me go ahead and link my reply about this.
Anthem Blanchard is creating a new digital currency that is like bitcoin that it works through a Proof Of Work method to distribute funds but is backed by gold in a vault, the crypto currency is to be called Hayek coin named after Friedrich Hayek. This coin is to be valued at the start at 1gram a coin and there is no cap on coins ever produced like Bitcoin but limited on how much gold is on earth, the physical gold is to be to converted and exchanged whenever. The CEO thinks this will be a revolution as it is a digitally backed crypto which essentially allows the transfer of gold easily. Now the part that is not in this article that should be noted that this is a centralized exchange that is ran by one company and that company can change the rules whenever unlike bitcoin and that if their Anthem Vault ever gets hacked anyone who has their funds will be stolen and sure while the gold will not be stolen physically they will not be able to differentiate any future funds or funds that are replaced by the stolen meaning they would have to double the amount of physical gold or cancel the project all together. This coin is already down before launch due to it being pegged to the price of gold and it being down.
Anthem Blanchard is creating a new digital currency that is like bitcoin that it works through a Proof Of Work method to distribute funds but is backed by gold in a vault, the crypto currency is to be called Hayek coin named after Friedrich Hayek. This coin is to be valued at the start at 1gram a coin and there is no cap on coins ever produced like Bitcoin but limited on how much gold is on earth, the physical gold is to be to converted and exchanged whenever. The CEO thinks this will be a revolution as it is a digitally backed crypto which essentially allows the transfer of gold easily. Now the part that is not in this article that should be noted that this is a centralized exchange that is ran by one company and that company can change the rules whenever unlike bitcoin and that if their Anthem Vault ever gets hacked anyone who has their funds will be stolen and sure while the gold will not be stolen physically they will not be able to differentiate any future funds or funds that are replaced by the stolen meaning they would have to double the amount of physical gold or cancel the project all together. This coin is already down before launch due to it being pegged to the price of gold and it being down.
So you have to trust a centralized exchange that is operating without even the accountability of an elected government. This is even worse than fiat. If I were a gambling man I'd guess this is a scammer's project and that there's no evidence Blanchard is an authentic disciple of Hayek.
Sounds legit doesn't it 
The thing is many will fall for this and lose more bitcoin we will end up losing more fools from bitcoin. Everyone wants the get rich quick which is not likely to happen while looking for it on every coin/investment that has the hype which most do.
This is is basically a ponzi if they store the gold for you, or I might be wrong but that is my personal opinion. I buy gold chips you store them it isn't until other fools buy gold chips that I will have a high chance of getting my gold chips and if everyone goes at the same time to get their gold the truth will set you free.
Craaaasshhhh I have a feeling this won't end up well.
The thing is many will fall for this and lose more bitcoin we will end up losing more fools from bitcoin. Everyone wants the get rich quick which is not likely to happen while looking for it on every coin/investment that has the hype which most do. This is is basically a ponzi if they store the gold for you, or I might be wrong but that is my personal opinion. I buy gold chips you store them it isn't until other fools buy gold chips that I will have a high chance of getting my gold chips and if everyone goes at the same time to get their gold the truth will set you free.
Craaaasshhhh I have a feeling this won't end up well.
The problem with these backed coins is that they compete with whatever is backing them. For example I could buy one of these coins for about $38.00 or I could buy 1 gram of gold for $38.00.
Gold has a history of value going back thousands of years. Hayeks are brand new and completely untested. There is just no way I would take them over gold. And it is not really quite correct to say they are backed by gold. If I go into the local gold dealer and ask to exchange these for gold they are going to have a good laugh about it.
There is also the problem of the issuer. This system starts with a bank vault full of gold. It is the only way to "back" them with gold. So the issuer sells the gold as these coins, but keeps the gold in his vault. It is exactly the same as "paper gold" and just as bad an idea. Bottom line, why have a alt-coin when you could have a gold coin?
Gold has a history of value going back thousands of years. Hayeks are brand new and completely untested. There is just no way I would take them over gold. And it is not really quite correct to say they are backed by gold. If I go into the local gold dealer and ask to exchange these for gold they are going to have a good laugh about it.
There is also the problem of the issuer. This system starts with a bank vault full of gold. It is the only way to "back" them with gold. So the issuer sells the gold as these coins, but keeps the gold in his vault. It is exactly the same as "paper gold" and just as bad an idea. Bottom line, why have a alt-coin when you could have a gold coin?
please trust me: THIS satoshi is backed by 1 gram of gold! i swear! We store it for you
...but please dont try to redeem it
! 
ahh another clone, this time with quite strong PR..this will never ends.)
Just like the liberty dollar. MERCIA does not allow freedom on this planet, they will come and steal ALL of their gold making the coin worthless.
The idea of backing a crypto with something is a fools errand. It is not possible America will have non of it.
The idea of backing a crypto with something is a fools errand. It is not possible America will have non of it.
this is another bitcoin wanna be ,that want to fix, inexistent flaws of the bitcoin system, why they can't just accept bicoin and help make it bigger? because they lost the early adopters train?
all these clone will not put even a dent on bitcoin, they will be forgotten before the next halving, guranteed
all these clone will not put even a dent on bitcoin, they will be forgotten before the next halving, guranteed
This isn't a coin, it's an IOU. IOUs don't even take on some randomly generated scrypt coin, let alone anything with even a remotely established userbase. Nothing to see here. Move along.
Hey guys I just invented the coin that will take on the Hayek!!!
An actual gold coin. Universally backed by 1 gram of gold.
An actual gold coin. Universally backed by 1 gram of gold.
Being "backed" by something is a flaw, not a feature. Who guarantees the "backing"? What happens when the authorities decide that whoever is doing the "backing" needs to go to jail? What happens when the "backer" disappears?
Yes being backed by gold that you do not control and is safely in someone Else's vault is not the greatest of ideas. All I see with this is total hype to pull of a nice big hustle. If the publicity is there it will be a very big one at that. Centralized bitcoin contender hmmmm
These Bitcoin killers are coming so thick and fast I can barely keep up. Looks like I'll have to cash in a big portion of my Paycoins and Leocoins. Another day, another opportunity to make a few million. Boy, life is sweet.
most likely they are spreading fake news so people buy the shitcoin and invest in their project,bitcoin will leader of cryptocurrency forever. Admit it
The problem with these backed coins is that they compete with whatever is backing them. For example I could buy one of these coins for about $38.00 or I could buy 1 gram of gold for $38.00.
Gold has a history of value going back thousands of years. Hayeks are brand new and completely untested. There is just no way I would take them over gold. And it is not really quite correct to say they are backed by gold. If I go into the local gold dealer and ask to exchange these for gold they are going to have a good laugh about it.
There is also the problem of the issuer. This system starts with a bank vault full of gold. It is the only way to "back" them with gold. So the issuer sells the gold as these coins, but keeps the gold in his vault. It is exactly the same as "paper gold" and just as bad an idea. Bottom line, why have a alt-coin when you could have a gold coin?
Gold has a history of value going back thousands of years. Hayeks are brand new and completely untested. There is just no way I would take them over gold. And it is not really quite correct to say they are backed by gold. If I go into the local gold dealer and ask to exchange these for gold they are going to have a good laugh about it.
There is also the problem of the issuer. This system starts with a bank vault full of gold. It is the only way to "back" them with gold. So the issuer sells the gold as these coins, but keeps the gold in his vault. It is exactly the same as "paper gold" and just as bad an idea. Bottom line, why have a alt-coin when you could have a gold coin?
According to the article it's powered by BTC through counterparty.
How does this differ in any way from e-gold though?
Gold tokens sound like a fine idea. They'll always be tied to someone who can be shut down though.
How does this differ in any way from e-gold though?
Gold tokens sound like a fine idea. They'll always be tied to someone who can be shut down though.
Centralized. And mined?
OK, either someone's very confused or they're simply taking advantage of the "blockchain" hype to try to make a quick buck.
OK, either someone's very confused or they're simply taking advantage of the "blockchain" hype to try to make a quick buck.
I know. It doesn't really make sense.
And something tells me that it wont take long until they get hacked.
Centralized. And mined?
OK, either someone's very confused or they're simply taking advantage of the "blockchain" hype to try to make a quick buck.
OK, either someone's very confused or they're simply taking advantage of the "blockchain" hype to try to make a quick buck.
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