Bitcoin Forum

Are you looking for a better alternative?

An alternative that offers security and opportunity at the same time?


The French Finance Ministry wrote in their report about virtual currencies (part III on page 7) that


                "The creation of [...] Gold Backed Coin (GBC) lessens the financial risk
                        
                                connected to virtual currency price volatility."

                   http://www.economie.gouv.fr/files/regulatingvirtualcurrencies.pdf

                                                  This is what we stand for.



For more INFORMATION about our product visit our website: http://www.gbc.is

To the first 100 interested users we give 25 XRP starter package each.

Feedback is welcome in this thread!

The next book building starts on August 29, 15:00 CET

Here you'll find more detailed information:



                                              G O L D  B A C K E D  C O I N    (GBC)


                         WORLD'S BEST VIRTUAL CURRENCY FULLY BACKED BY GOLD



ANNOUNCING

Simply stated, Gold Backed Coin (GBC) is a revolution in its field. Its 100 % backing by physical gold adds a new dimension to the term cryptocurrency: There will be price stability downwards, while upwards there is no limit, and the free market defines the price.

ISSUING

Driven by a new concept, GBC differs from all other virtual currencies. Gold Backed Coins are issued following a book building process in which their current price is to be defined. Prospective holders hand in their orders by choosing a price within a given span. The maximum order volume will be calculated to serve the demand – and it may well be that the individual user gets GBC for a price cheaper than ordered. The first book building will take place from April 9, 2014 15:00 (CET) to April 22, 2014 15:00 (CET).

TRADING

Gold Backed Coins are tradable online within the Ripple network. Existing since 2011, this is an advanced system for trading currencies safely and quickly against each other worldwide. The prime place for trading GBC is the GBC/BTC market integrated in the Ripple network – but users can easily create new markets in which to buy or sell GBC against other currencies.

MINIMUM PRICE GUARANTEE

Interventions on the GBC/BTC market will happen, should the market price drop below the backed value of the coin. The physical gold reserves will be used to guarantee investors this important advantage.

AMOUNT OF COINS

The exact amount of GBC in circulation will depend on the specific demand during the book building processes. In any case, all GBC will be backed by one tenth of an ounce of gold per coin.

SPECS

Currency code: GBC
Value: Backed by one tenth of an ounce of gold per coin
Issuance: Via book buildings on http://www.GBC.is
Trading place: Ripple network (mainly GBC/BTC market)
Requirements: On Ripple grant trust to the correct issuer
Issuer address: rG52A1pZBGER9tCvTdVh3zf1WJokjjVfJu
Options: Tradable against all currencies on Ripple
Guarantee: Price guarantee active below gold backed value
Maximum: Defined by demand

SPECIAL ADVICE

Become a lucky WINNER: Register an account, follow us on Twitter or like us on Facebook in order to take part in the competition! 13 GBC will be the prize for the winners. Find more details on our website!

MORE INFORMATION

Homepage: http://www.gbc.is
- Info: http://www.gbc.is/info
- News: http://www.gbc.is/news
- Tutorial: http://www.gbc.is/tutorial
- Order: http://www.gbc.is/order
- FAQ: http://www.gbc.is/faq
- Register: http://www.gbc.is/register
- Newsletter: http://www.gbc.is/newsletter

Contact: support@gbc.is

Other Sources:
- Facebook: https://www.facebook.com/pages/GBC-Gold-Backed-Coin/273646059461457?fref=ts
- Twitter: https://twitter.com/GoldBackedCoin
- iOS App: https://itunes.apple.com/us/app/gbc-gold-backed-coin/id841402612?mt=8


Take part in the BOOK BUILDING! We are looking forward to serving your orders for Gold Backed Coins.

If it's backed by gold then it's backed by me.

interesting idea, but flawed: counterparty risk.  if you don't control the physical gold, you don't own it. 

If it's backed by gold, And it's backed by SecondsOld, then it's backed by me.  ;)


True - but this should be able to be addressed by keeping the reserve in a trusted precious metals exchange, with stipulations that it can't be touched without certain conditions first being met, no?

can I just take the gold and leave the coin ?

 ;D Yeah - let's all just mine gold instead... (no sarcasm intended here... just humor)

What we offer is regular proof by the financial institute where the gold is stored and how much of it is stored.

Isn't this the same as GoldReserve Coin?

the difference is that with gold you're bound to the official gold price whereas GBC is a virtual currency. therefore, due to the investor's market decisions and speculation GBC's price may well rise above the gold price.
to limit the risk for the investor, we offer a minimum price guarantee to intervene on the market in case the price of GBC would drop below the gold-backed value.

one decisive feature of Gold Backed Coin is that it's fully backed by gold and that we work with a book building mechanism

a lot of useful information about GBC can be found in our FAQ:
http://www.gbc.is/faq

You mean paper statements? Lol or video you can't touch?
Should any gold depository fail this coin is toast

I appreciate your joke :-)

we know that it's not easy to convince critics as there are many scamcoins in existence.

gold backed coin is different from them. therefore, the regular proof will be official statements of the financial institution where the gold will be stored.

Get your GBC starter pack with free 25 XRP here:

http://www.gbc.is/givexrp

(you have to register first before you can receive your XRP)

Coins receved, thanks but just 25 not 100.

Same here.

The book building process is just fucking retarded as are most of the ideas here.

thanks, mistake

correct: the first 100 applicants receive 25 XRP each.

you're welcome to share your more innovative ideas with us, mate  ;)

Like us on Facebook - https://www.facebook.com/pages/GBC-Gold-Backed-Coin/273646059461457?fref=ts

and

follow us on Twitter - https://twitter.com/GoldBackedCoin

Information on how to proceed in the book building can be found here:

http://www.gbc.is/tutorial

i like the reply about how we should just mine gold....there is none by my house so I might look into this one.  ;)

there was already a coin "backed" with gold, and turned out to be a scam

I have signed up you know how I can get the XRP
whether the need for this wallet

therefore it may be important to note that Gold Backed Coin has no connection to any inventor of scamcoins

and you will find all information necessary to prove that GBC is a trustworthy project in our FAQ:

www.gbc.is/faq

after having registered you're logged in and you go to www.gbc.is/givexrp

there the first 100 applicants receive 25 XRP each
(the amount needed to start trading within the system)

Seeing as this is a gold backed coin, where can I exchange the GNC for physical gold?

hello dogetime, thank you for this great question

the concept of GBC is similar to that of a goldseller, but it is not the same. if you take your USD and buy gold at the goldseller, you can also directly sell it there and you receive USD again

instead, to buy GBC you need to have Bitcoin, and you can then trade the Gold Backed Coins on the GBC/BTC market within the ripple system. if you want to sell them and another person agrees to your offer, you will receive BTC, not gold.
for more information please visit http://www.gbc.is/gbc.cgi?page=tutorial5

meanwhile, the physical gold will be stored in a financial institute in switzerland and there will be regular official statements about the amount stored. the reason why the gold is only stored, but the transaction is in GBC/BTC is the full backing of the coin.

that means, in case the market price of GBC dropped below the gold backed value of the coin, we guarantee to sell the appropriate part of the gold, and buy back the GBC on the market by using bitcoin. by doing so the users of GBC have a guarantee that limits potential financial loss to a minimum. and this feature poses a crucial advantage over a whole lot of other VCs.

trading GBC for a higher price than the backed value will of course be possible. therefore we suppose that there's a good opportunity for a substantial increase in value.

The French Finance Ministry made excellent research about virtual currencies and
    mentioned Gold Backed Coin (GBC) positively in their report:

http://www.economie.gouv.fr/files/regulatingvirtualcurrencies.pdf

They say (part III on page 7):
"The creation of [...] Gold Backed Coin (GBC) lessens the financial risk connected to
virtual currency price volatility."

This is exactly what we stand for: Security and opportunity at the same time.

WHAT IS GOLD BACKED COIN (GBC)?

GBC is the Gold Backed Coin, a revolutionary virtual currency made available via an issuing process that involves a book building.

As its name says, GBC are backed by physical gold, enabling you to benefit from a price guarantee on the GBC/BTC market.

The price guarantee is based on the backed value of each coin which is defined by one tenth of an ounce of gold.



In addition to its backing by gold, the free market defines the actual price of GBC above the level of its backing.



GBC are being traded on the online markets of the Ripple network,
representing a strong combination of maximum safety and worldwide accessibility.

Your coins can be easily sent around the globe while trading charges and transaction fees of Ripple are practically zero.

GBC are easily tradable against all other available virtual and real currencies.

Gold Backed Coins are issued during book buildings, permitting any investor to hand in individual orders for the coin.

As GBC are tradable on the free market, the buyer enters the advantages of the Ripple network:
By using it, Gold Backed Coins can easily be sent across the globe and traded against any other currency available.

We are interested to pimp up our LOGO and willing to pay for the best idea.

Send your dynamic idea, based upon our beta-version logo, and your price offer to

                                                  logo@gbc.is

                       and you may soon see the one you created on our website

AMOUNT OF COINS

The exact amount of GBC in circulation will depend on the specific demand during the book building processes. In any case, all GBC will be backed by one tenth of an ounce of gold per coin.

a) GBC has value because it is backed by X amount of Gold.
b) If the price drops too low, you will sell some of the Gold to prop the price up.
c) Now GBC is only backed by Y < X amount of Gold.
d) So the price goes down.
e) Goto b, until you run out of Gold.

You cannot maintain a currency peg against a determined attack.
George Soros proved that, if it needed proving.

Your argument is false.
The moment we sell 1 GBC to you, we back it by 1/10th of an ounce of gold. This is for your security.
The moment we buy back 1 Gold Backed Coin from you, you get your money. And after we bought back this 1 GBC and it's in our possession again, then this 1 GBC does not need to be backed anymore. Got it? And: All GBC out on the market will still be backed by 1/10 of an ounce of gold each - and that doesn't change.

Well, can you explain what you want to say with your example of a Soros-like attack? There are some missing links in the art of logic you apply, so I can only recognize a hollow allegation driven by undefined fear...

TRADING

Gold Backed Coins are tradable online within the Ripple network.
Existing since 2011, this is an advanced system for trading currencies safely and quickly against each other worldwide.
The prime place for trading GBC is the GBC/BTC market integrated in the Ripple network – but users can easily create new markets in which to buy or sell GBC against other currencies.

Why does the world need a Gold Backed Coin?

Virtual currencies have entered the scene as a means to respond to the Financial Crisis and the underlying structural deficiencies. Right now, most of the virtual currencies that came into existence by following Bitcoin's example, do not offer enough stability against a drop in value. Gold Backed Coin (GBC) aims to present an answer to exactly this problem and to push the development of cryptocurrencies forward.

Gold Backing has - in the history of money - been for a long time a successful way to stabilize the monetary systems around the world, and even today you can hear loud voices, calling for a return to the old gold standards. At least in virtual currencies, there is a strong need for a vital alternative now, and this alternative is the full gold backing of GBC that assures the preservation of the coins' intrinsic value.

Feedback is welcome in this thread, guys!  :o

Find GBC also here:

- FACEBOOK: https://www.facebook.com/pages/GBC-Gold-Backed-Coin/273646059461457?fref=ts

- TWITTER: https://twitter.com/GoldBackedCoin

- iOS APPLE: https://itunes.apple.com/us/app/gbc-gold-backed-coin/id841402612?mt=8

Here you find an interesting INTERVIEW of the developers of Gold Backed Coin:

http://thebitcoinnews.co.uk/2014/04/14/goldbackedcoin-interview-with-the-developers/

Our BOOK BUILDING is open from NOW until September 1.

The price span ranges from 0.40 BTC to 0.95 BTC.

Hand in your order on www.gbc.is/order

For more information please visit www.gbc.is/tutorial4

Backing by physical gold constitutes the crucial advantage for the holder of GBC:

While the market price is not limited upwards, the issuer guarantees for GBC stability downwards.

This is done by the commitment to intervene, if necessary, in order to keep the price above the gold backed value.

Thus, GBC provides a high level of security and opportunity at the same time.

There are generally two ways to acquire GBC: Through book buildings or on the markets of the Ripple network.

At the beginning, GBC will be only available at the book building on this website. To buy GBC directly on www.GBC.is, you should have a valid Bitcoin address and a Ripple wallet. Then you register for an account on www.GBC.is and move on to the Order Page.

Find a detailed instruction on how to proceed through the book building by clicking here.

After the first book building, users can trade GBC on the Ripple network, especially on the GBC/BTC market. From time to time, new book buildings will take place to allow more users to order their GBC directly. These GBC will then partly also flow into the markets and increase the volume of GBC traded on Ripple.

First register on our website, then log in and take part in our book building.

The current book building is open until September 1, 15:00 CET.

Find more information about GBC on www.gbc.is/info

As an advanced virtual currency network, Ripple houses the issuers of GBC.

Its specific features permit GBC to function as a worldwide tradable cryptocurrency that will satisfy the needs of prospective users who are interested in a virtual coin fully backed by physical gold.

We are interested to pimp up our LOGO and willing to pay for the best idea.

Send your dynamic idea, based upon our beta-version logo, and your price offer to

                                                  logo@gbc.is

                       and you may soon see the one you created on our website

The current book building closes tomorrow at 15:00 CET.

Get your GBC! www.gbc.is/order

Our current book building will be closing in 4 hours.

Get your Gold Backed Coins NOW: www.gbc.is/order

Why is GBC integrated into the Ripple network?

Ripple was chosen as the issuing place of GBC because of its multiple advantages that are offered to users worldwide.

For GBC and its prospective holders, this place is endowed with the desirable combination of strong usability, high safety, and maximum opportunity.

On Ripple, you can send, receive and trade GBC in a fast and safe manner.

Why is there a book building?

Book buildings will be opened from time to time to better meet the demand for GBC at a fair price and to allow interested parties to directly buy their coins from the issuer.

At the beginning, this could be particularly interesting for those who want to buy a larger amount of GBC than is available on the free markets at the time.

Furthermore, buying GBC on the Ripple markets may be interesting if someone wants to acquire smaller amounts that are not served in the book building (amounts less than 1 GBC).

In fact, every new book building means that there will be new GBC holders.

This will be followed by an increase of liquidity on the relevant markets.

The recent book building has closed today at 15:00 (CET).

We thank all participants for handing in their orders.

The price level with the maximum volume of orders is 0.40 BTC per Gold Backed Coin.

with all these gold backed coins shouldnt we all be sitting on an island doing blow by now?