Finally, gold on the blockchain!

[CoinCodex]

DGX tokens are finally out, but you can only get them after April 8 and also have to pass KYC. 100 DGX gets you 100 grams of gold. Is this a good idea?
You can read more in this article: https://coincodex.com/article/1443/digix-puts-gold-on-the-blockchain/

[Perunex]

What is this? Like a gold standard or something?
Not a good idea imo. Haven't done the proper research, so my opinion is not so relevant. I just don't understand why would we go back to gold crypto standard.

[Pulsar1x]

I understand that they want to back their coin with gold like dollar was backed up back in the days until 1971, but this could be some kind of downgrading the coin.
It is interesting to see this for sure, it will have some strong points though while it is connected with gold.

[skinomanl]

DGX tokens are finally out, but you can only get them after April 8 and also have to pass KYC. 100 DGX gets you 100 grams of gold. Is this a good idea?
You can read more in this article: https://coincodex.com/article/1443/digix-puts-gold-on-the-blockchain/

Another project based on the ether, only now with gold. I wonder how I can track the amount of gold they will give me for the purchase. And muddy schemes with commissions and charges for storage. What then to do with DGD.

[giovmp]

The idea itself looked very promising since the project was announced.
The only problem we may face is in the adoption process, even though there are more and more people switching their investment into gold, rather then crypto. Especially in this bearish market trend.

[Perunex]

DGX tokens are finally out, but you can only get them after April 8 and also have to pass KYC. 100 DGX gets you 100 grams of gold. Is this a good idea?
You can read more in this article: https://coincodex.com/article/1443/digix-puts-gold-on-the-blockchain/

Another project based on the ether, only now with gold. I wonder how I can track the amount of gold they will give me for the purchase. And muddy schemes with commissions and charges for storage. What then to do with DGD.

That is a solid point.

However, if we ignore transparency (which is a very strong point of course), I understand this coin as a Tether (USDT) but using gold instead of USD as a back-up. And the company would buy up X amounts of gold for every Y amounts with X:Y ratio predetermined. Actually idea is not that stupid. I would personally rather hedge myself against gold than inflationary USD. Specially because "printing" of Tether seems easy and a problem.

But transparency of buying this gold need to be 100% and without a doubt. I am not sure if that is possible, though.

[Yuuto]

They are not offering any purchases without KYC which takes away from the actual usability of this. Why wouldn't investors just buy physical gold instead? Even if their gold reserves are audited, there is no guarantee that they will definitely be always 1:1 backed, or in certain circumstances be actually redeemable for real gold, just like Tether.

I like the idea, but I wouldn't trust an overseas company to hold my assets and issue me an IOU, whether on the Ethereum blockchain or not.

BTW, anyone know the difference between Xaurum and DGD?

[preshpr1nce]

From a profit point of view this is only about as good as buying gold, which I would rather do over a backed token if I went down that path.
Where it holds a use, imagine if we hit issues with the US dollar and it started to lose value, Tether wouldn't be so great and this could serve as a better safe haven over Tether

Otherwise, interesting idea but it won't bring profits imo.

[bobo012]

From a profit point of view this is only about as good as buying gold, which I would rather do over a backed token if I went down that path.
Where it holds a use, imagine if we hit issues with the US dollar and it started to lose value, Tether wouldn't be so great and this could serve as a better safe haven over Tether

Otherwise, interesting idea but it won't bring profits imo.

I agree with you. I have never understood why would i trust someone else with storing my gold. It is also centralized storage, with decentralized tokens. You still have to trust somebody, and i trust only myself...

[demenBTC]

They are not offering any purchases without KYC which takes away from the actual usability of this. Why wouldn't investors just buy physical gold instead? Even if their gold reserves are audited, there is no guarantee that they will definitely be always 1:1 backed, or in certain circumstances be actually redeemable for real gold, just like Tether.

I like the idea, but I wouldn't trust an overseas company to hold my assets and issue me an IOU, whether on the Ethereum blockchain or not.

BTW, anyone know the difference between Xaurum and DGD?

the simple difference between xaurum and DGD is very much different price, in the investment both see only the funds held by investors,
xaurum at a price of $ 0.080495 USD / 0,00001177 BTC
DGD at a price of $ 259.65 USD / 0.03793480 BTC

[prabakharras]

https://www.coingecko.com/en/price_charts/digixdao/usd Digix and https://www.coingecko.com/en/price_charts/hellogold/usd hellogold both on the gold on blockchain wagon, good luck to all

[okinawa]

I think it's a great idea, I guess this coin wil be stable like usdt. I don't like to use tether because I am scared of losing my funds ( there are lots of fud around usdt ) so this will be a good alternative.

[Bowtiesarecool]

Thought goldmint.io had beaten most of these guys to the punch, developing a gold-backed blockchain

[Calanderia]

Soooo, the price of DGD will go up or not?

[Pom_bensin]

DGX tokens are finally out, but you can only get them after April 8 and also have to pass KYC. 100 DGX gets you 100 grams of gold. Is this a good idea?
You can read more in this article: https://coincodex.com/article/1443/digix-puts-gold-on-the-blockchain/

if the project gives 100 grams of gold will certainly be great for promotion. but the consistency of the project should be understood and may be a good breakthrough for blockchain.

[Febo]

DGX tokens are finally out, but you can only get them after April 8 and also have to pass KYC. 100 DGX gets you 100 grams of gold. Is this a good idea?
You can read more in this article: https://coincodex.com/article/1443/digix-puts-gold-on-the-blockchain/

https://coinmarketcap.com/currencies/xaurum/#charts

XAURUM was first gold backed crypto. So look at it.   I read today in newspaper some Israeli diamond brokers will issue a coin backed by diamonds. Sadly I forgot teha me.  Oh no I remember. I think it was Carat coin

LOL i see thee is also a Karat coin that has something to do with gold.  Gold is popular nowadays.

[sedou]

I mean it could work but I will wait for some time to see other people using it. Might be good alternative to tether.

[removebeforeflight]

I think this is a good idea and a stepping stone for block chain technology where the traditional asset is moving towards digital era. I don't think special about this coin or project but due to gold can be purchased with this coin, I hope there would be some craze from the old school guys.

[21millionsbtc]

This Look like Gold bonds on blockchain technology worth investing i suppose

[goyald2801]

if it backed by gold then how we can expect its price will rise in future ??
if gold price is stable then its price also will be stable like tether.