Bitcoin Forum

With the current condition the market is in, I think most people run to safer investments like precious metals. Recently found Pecunio, a cryptocurrency backed by gold which seems pretty solid to me. Gives it greater stability and trust to invest in it. They were also recently invited to Nasdaq for an interview, so this gives it a bit more credibility. Has anyone taken a look at it or invested in any gold backed crypto?                                                                           

Why Gold
????

Power !!! (KWH)

Everything and everyone needs it

There are already shitcoin before that claim they are back up with gold. I doubt if majority of gold holders will agree with this strategy. A real cryptocurrency doesn't need back up with gold if it already have a good project with real product.

I believe gold backed crypto project add another layer of protection to the investor, even if the project does not moon i believe the price will be more stable as gold is a highly sought after instrument for investment, as gold is a more safe and stable compare to other instruments in the market.

Nah, resource backed cryptos are a no go for me.

In almost every scenario I found it was better to just invest in the resource itself.
In the case of precious metals, the best way to invest in them is to get the actual precious metal itself.
No gold certificates, no bonds, no crypto representing it, but the actual gold itself.

while this may seem difficult (get your hands on actual gold) it is actually quite simple.
There are a vast number of services that provide you access to purchasing power.

But, of course, this is not a gold investment thread but a crypto one.
So you have to ask yourself, why does gold need to be on the blockchain?
What benefit is there and what does the coin actually do?

The market is flooded with coins that have no real use or are attached to something that doesn't need blockchain at all.
As the market matures, these types of coins will lose out to those that actually do utilize blockchain to their benefit.

I don''t think a anything backed crypto would be possible, if someone bought the amount of gold and sold the tokens amounting to the gold price and keeping the gold, it can be a possibility but again it would not necessarily be profitable to investors as well as issuer. Any promise of a fixed price are scam is my categorization.

Yes, as far as I can remember there was a coin already that says its a gold back up crypto but I really don't know what happen to them. Its ether they have been pump already and now on the downtrend or the coin simply died down because of no investors behind.

I'm not saying that its not good to invest on cryptos back up with golds or silvers or any other precious metals, but it looks like people are not that interested though, because if they did, I'm sure up to know we will hear a lot from them. Sadly its been very quiet, so I'm speculating that it didn't gain traction from our community.

With the condtion of the market people believes in the metals but gold also need to  the blockchain  i think gold backed crypto project add another layer r but ,gold i s more safer to  invester but whaen crypto market rises then all will believe in coin more then gold

I think that all these legends about gold reinforcement will not greatly affect the price of a coin. I think that she also will be very volatile

We already have USDT, why not GOLDT?
i think it is 1) expensive 2) hard to implement via stronger laws in gold circulating 3) not as liquid as usual fiat.
Looks like creating the new bicycle - needless thing.

Might not be a good idea,because gold is being controlled by the central banks,and that shouldnt be trusted its like  fiat currency that is being stored in a shit metal which most of the people wants to have,cryptocurrencies are decentralized and its not going to be stable as these projects are claiming that it will be stable.

Nothing. Because we see that to secure the crypto currency gold requires third party guarantees. The ideology of classical crypto-currency excludes third parties. As the conclusion of the crypto currency, where third-party guarantees are required, it is an ordinary private fiat currency. But there are crypto-currencies, where the value of an asset is tied with delegates, for example, a bitshares.

Kwht

Yes, I researched it, I think it's worth it. It is always not too early to invest in any project, to begin with, simply analyze it.

I dont like gold backed token projects. If i want gold i will buy it physical and store it myself. I won't have to trust anybody that way.

Gold backed crypto will mean that particular crypto currency will be accepted as an alternate means of payment or exchange in that country.  And it will probably need some form of government backing for this to be possible

Yeah it also means that cryptocurrency will be much like XRP which is centralized,why are you here ? to kiss the banker's ass? most of us here are for the decentralization that is why centralized cryptocurrencies shouldnt be supported by the community and it will never will,cryptocurencies are decentralized in nature which is why these types of projects arent going to achieve success.

There is a lot of projects are implementing gold backed their crypto asset and none of them achieve the target. I guess that's bullshit. X8 currency and many projects have the same idea like pecunio and totally fail and i never try to get into that project because that's just another delusion to attract new comers with no achievement in the future.

Gold does not need cryptography as well as for crypto there is no need to be provided with gold. These two things have completely different purposes.

How'd u know the gold is really backing the tokens? How do u it's not double spent or maybe there's no good at all? It's kinda the same thing as buying gold through the internet, u don't actually get the gold but just a number on the screen.

Gold is the currency of the universe. Countries are going to come out with digital, gold-blockchain monies. They can set taxes, fines and fees on chain transactions with a centralized core, decentralized ledger. You'll have it all right on a debit card like you do now, it will be very similar.

CONSIDER how much gold and silver countries like Russia and China have been buying, or counties like Germany and Turkey that have recently recalled their gold, or any of the banks buying gold and silver. JPMorgan has over 137 MILLION ounces of silver. These guys are prepared to take the FIAT dollar down and reinstate a gold-backed money. They have been at it for ~100 years with fiat, brainwashing people that fiat has value, while they bought real assets up. Massive transfers of gold INTO their vaults - the result of generational misleading and keeping the public's attention away from it, which is ongoing. There is billions of USD invested by banks on propaganda to smear gold - they're extremely effective. This is going on since before your parents were born, they are very proficient at it now.

A gold backed digital money, transacted only on blockchain, while the phys is stored and accumulated in government vaults. The value of their 'coins' will be proportional to the provable gold they have stored in said vaults. The writing is on the WALL people. This is truly a fair and safe system with compromise. A system where you can control your money completely, or still use banks to protect your private keys, while government insures it. Where the core is managed by each government. No single countries money can be attacked or manipulated individually, because the value is based on a universal standard, gold.

The caveat in the compromise: Governments can manage and tax, protect, track and even reverse transactions if fraud happens - good for them as they see fit. Anarchy won't work. Governments need to exist, need to control money in SOME kind of way. But maybe a government WILL take advantage by over-tax, or otherwise mismanage their blockchain. This will happen in some cases...but not without consequence. Blockchain is TRANSPARENT, like nothing ever before. Never before have we had a system so transparent and universal! The whole world will know, and their coins will lose value - nowhere for ANY of the FRAUDS to hide. People will want to leave that country for honest ones. Reckless, in-efficient empires, governments will collapse due to their ignorance. There will be no hiding it, finally, good will run out the bad!

Money we use now is making us EVIL. It is corrupted and evil, based on debt, evil! Our money is tailored to those that control the presses, that issue it, and wealth BARELY trickles down, we the people are getting pissed on! The top is holding on to more than ever. Gold is good, gold is not debt based, not fantasy, not printed to suit the needs of the few.

Money is what governments make it to be since history began. It is foolish to bet against all of recorded history. This holds true today moreso than ever. Gold IS a fair system, the universal and biblical money. Research it yourself if need be : many countries central banks are stockpiling gold! They are going to back their currency by gold because gold is ALREADY distributed. It is ALREADY stable. It will be widely accepted by general population. Most people think our money IS backed by gold right now (that brainwashing, propaganda, 100+ years brainwashing, keeping gold out of our minds). People can understand gold. It is simple.

Unfortunate that bankers have amassed most all of the gold over generations. Almost the whole world is about to be enslaved under the wonderful system of gold-backed crypto-currency at the hands of government and banks. You will earn what they say you earn, because they are the only game in town, owning the lions share of gold and silver, while most have absolutely none.

I have spent years buying some of the best gold related domains. A good online domain could be the best way to profit from what is coming. You can see thread here: https://bitcointalk.org/index.php?topic=3028679.0 Try using your imagination! I put posts about gold-blockchain related stuff infrequently on a website http://goldchronicle.com (also some general information and explanation of the system on there)

crypto money is constantly innovating in the market. gold-based cryptographic money will create a new balance in the stock market. so the crypto stock market will spread to the whole world. It creates an extra opportunity in the investors.

Yup there were ICOs offering coins/tokens backed by Gold, Silver and Diamonds. I think two bounty campaigns I took part of (one backed by gold and the other by silver) failed to raise capital. I do not necessarily think it is a bad idea but haven't seen (or aware of) any successful project.

Well, if there is such a coin that is backed up with gold that could be great atleast that could be the highlight for such currency that investors will be looking. into consideration. Anyways, If I am to invest I would rather go to the existing crypto currencies like ETH and Cadano because I would feel secure since this coins have in the crypto market for quite some time and rest assured to gaing good return of investment.

You need to be sure if coins are backed by GOLD. If they do it will be against of whole concept of digital currency. How can any cryto coin can be backed by Gold controlled by same market and institutions?

It is a rubbish Idea, none will work long term, look at Xarum project for example, how has the project faired, there was a time that the price of Gold was going up last year, the price of Xarum tokens was going down. Just go and look at the way it has performed last year when the whole market rallied 

Why GOLD? Gold is the fundamental of currency and it is the standard basis why fiat has a value and not POWER. You can't hold power and can't see it. People need something that materializes and not an energy that can't be seen. Don't interpret my statement wrong, I'm not against KWH idea, I'm just telling a fact.


The problem is there is no actual GOLD in their vault or even if they had, They didn't set the actual value of their token to the value of GOLD. No buyback feature that can maintain the price of their token to equal the price of real gold.

I heard many cryptos backed by gold, they said it was very stable, the price won't drop instantly because it was backed by gold, however, I am still don't get it.

How could it be possible with crypto currencies to backed by gold, what is the assurance with that value?

People choose gold because it is a lot safer. Bitcoin price can fall to 1000$ in just a few hours while gold price cannot fall that much even in a few months because the market is much more stable. Gold was one of the first things that people used toto buy things with and in time it has became one of the most precious metals. Gold gives you a felling of safety because it exists since the beginning of the world and everyone knows about it and think it is safe. Also you can exchange any gold metals pretty much everywhere because I didn't saw a town that doesn't have a pawn shop.

man, if you want, you can go with DTX token, people says it will boom in near future.I would suggest don't go and take nay steps without researching by yourself man.

According to this, the market conditions of believers on metal but gold also need for blockchain I think a gold-supported crypto project adds a layer. But Crypto that is gold-backed will mean that a particular cryptocurrency will be accepted as a way of payment or an alternative exchange in that country. And that will probably require some form of government support for this.

Investing in gold, I think the profit will be very little and like the exchange from cryptos to USDT. But you will not risk as big as investing in cryptocurrencies. So the choice will depend on your point of view. But I encourage you to invest in ETH because by the end of 2018 the ETH rate will increase very fast, is expected to reach $ 2000.