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/

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[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.

[akitha]

The Pecunio token which is in ICO will back up by gold. I thought only pecunio had this by now i learned something new.

[Perunex]

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...

Simple. Because you want the simplicity, speed and effectiveness of having gold in crypto value. The utility is to basically hedge from the bear market. Imagine buying this coin somewhere in January, and now you buy your portfolio again. If your calculated/expected bear market is even shorter, you don't want to sell all your crypto, withdraw fiat, deposit fiat to some traditional exchange and buy gold. The utility of this coin is totally different practically than gold's as an asset. It's just backed by gold. It's basically and alternative to tether, which might even raise in value.

However, I do agree with the needed transparency of the coin to gold ratio. The transparency is an issue already with tether, thus the FUD. I hardly believe that they will be able to convince myself. They might convince the market, that the backing is there.

[okan]

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/

it is totally opposite to rationality of blockchain.

a gold standard on blockchain.

this is funny

[Milansilver7]

The market price of gold is not determined by the people who buy gold. The market price of gold is determined by people who have gold resources and banks. The total number and value of gold is unknown, because greedy people and organizations that have gold mines are very interested in keeping the real value of gold under the shadow of their huge profits.

[removebeforeflight]

I really don't understand what is the concept behind this like gold on the block chain. Already Bitcoin is serving as a legal tender and a asset like gold, why we should rely on gold or gold related crypto as of now. This is something not real and not practical. Lets have some more information on this to discuss further.

[renes]

It might be good idea or not but now there is no regulation regarding lots of such possibilities so I would never invest in such projects, I don't know if it will be profitable though.

[nopedope89]

Crypto money based on gold is not very successful. The price keeps falling. But crypto prices are not much affected by the rise.

[heidikim]

Gold-based crypto money goes against the exit of me. Considering a virtual suicide with an asset can be thought of as giving it a status. Will this time show up?

[Btc4Proxies]

ehhh I'm more into what Havven is doing. Stablecoin with a dual token system that is trustless and decentralized. And best part is that they're not pegged to gold or fiat. https://havven.io/

[Dagser]

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.

Tether has its own problems with exchanges. But the whole idea is not so convincing for me.
You need to back it up all the time. Can we be sure that this will happen? Guarantees?

[soloinvestor]

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/

In my opinion, it is better to make your own research and trust your guts.
I was asking myself what to do when cryptocurrency goes down and found out that the most of the privacy coins are undervalued right now.

The best opportunity is to find a privacy-related project with a low total supply (less than 100M), that way the price will be increasing much faster.

I recently found one project called Ethereum Meta, it is related to anonymity and untraceable transaction. They have a very interesting project to build the Anonymous E-Market Place.

They are on exchanges right now, you can check their website: https://ethermeta.com/
Or even better go through their Bitcointalk thread: https://bitcointalk.org/index.php?topic=2659058.0

[masterrex]

 Finally, gold on the blockchain!

For me its Good- GoldBacked Cryptos are most promising one because gold is more stable assets other than any? Looking forward with positivity and I see It and Innovation and finally Cryptos were look more stable because its back by Gold But not all Cryptos has made that way others are S*** or S***C***! and No working product as well. I'd like to bet this GoldBacked Cryptos but only those Real GoldBacked Cryptos and not for those Hoax GoldBacked Cryptos Like (Qatarcoin) QTC* QTG* They Scammed there Investors and Run Away! So Beware of it.

[leea-1334]

Bad, bad idea. I know one of the biggest criticisms from banks and governments is that crypto is not backed by anything physical. But so what? Crypto is backed by mathematics. The pure, unbiased, certainty of numbers that none of the other money types have.

Lots of digital currencies tried using gold to be backing it. And I think also many "crypto" tried to peg themselves to some existing thing of value, like Tether. Go and see how successful they are.

[tisumagic]

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

I will also use the same way as you. because by waiting for others to use it, at least we can analyze whether it will work well or even cause new problems. hopefully this alternative way will be profitable for its users

[BryanK]

I wonder how it is possible to associate gold with blockchain? I'm not sure, but I don't think that's a good idea.

[NiinaKub]

i doubt it will work

[DaMut]

I wonder how it is possible to associate gold with blockchain? I'm not sure, but I don't think that's a good idea.

if i remember it correctly, a few years ago someone did this.
what i mean is,they were saying about backed by gold.
so you could buy the gold by using their coin,but it lasted for a month or two if i remember it correctly.

i doubt it will work

it will work(if they want to).
but it will not last long,because it is all about money and profit.
people prefer to get a quick money other than delivering the product and promise.

[Filfil]

I wonder how they're going to secure their coin with gold. This idea requires significant funding.