Thoughts on gold backed crypto?

[GoBelle]

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?                                                                           

[maremostro]

Why Gold
?

Power !!! (KWH)

Everything and everyone needs it

[happyme1818]

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?                                                                           

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.

[Shadovka]

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.

[dumplingsandsushi]

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.

[tsaroz]

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.

[btc_angela]

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?                                                                           

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.

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.

[chikucrypto]

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

[yura888]

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?                                                                           

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

[Nichao]

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.

[totnaksquad]

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?                                                                           

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.

[Lernerz]

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.

[maremostro]

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.

Kwht

[vladaziya1]

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?                                                                           

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.

[bobo012]

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?                                                                           

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.

[donalfonso]

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

[cryptomarijuana]

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.

[lobo13hf]

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?                                                                           

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.

[dolcefarniente]

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.

[Vansire]

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.