Discussion: Crypto backed by gold, what else?

[nemesio]

They are talking about cryptocurrency backed by gold here - http://cryptoandblockchaintalk.com/cryptocurrency-backed-by-gold-26
Will it work? What else could be used to back crypto and why would it work in your opinion?

Backed crypto is not a crypto. If you consider gold as way of insuring the cost of tokens, it may work, but when you connect token to real world asset you slow its growth.

[Tylev]

They are talking about cryptocurrency backed by gold here - http://cryptoandblockchaintalk.com/cryptocurrency-backed-by-gold-26
Will it work? What else could be used to back crypto and why would it work in your opinion?

In any case, it will be better if a certain part of the tokens is backed up with gold or something else. The enclosed article lists eight cryptocurrencies that are already backed by gold. So it works. I also recently participated in
in the ICO Jinni signature campaign, which tokens should also be backed with gold. The signature campaign there has long been over, but the ICO is still going on until the end of December, and the tokens promise to pay in January. I hope that the tokens of this campaign will grow in value. Already, they declare the cost of the token at the price of ICO 7.04 dollars, and in a few years they promise that its value will rise to 999 dollars.

[raven.tiu17]

Cryptos that are back by industry, assets and a government institutions. Which are the most bio factor in the crypto space. Ive heard alot of things that are in common but what important we embrace the blcokchain technology.

[valek.bruno]

And what else is there to say? Everyone says that cryptocurrency in particular, BTC will be very popular and will be of great value, because it is BTC that is very active today, so start investing in it.

[dddudidd]

try to see the website active or not, because that is the first capital that I made reference to, whether the project was very intense in its development

[kethan]

They are talking about cryptocurrency backed by gold here - http://cryptoandblockchaintalk.com/cryptocurrency-backed-by-gold-26
Will it work? What else could be used to back crypto and why would it work in your opinion?

Such tokens would not be different from shares and similar documents. Main goal of crypto is creation of alternative ways, not copying.

[EmmaBen]

Backing crypto with the most precious metal on earth simply means trust and credibility in the future of crypto. And in the midst of the opposition, this development is all good. Lucky enough, some oil dependent economies are already backing crypto with their oil money. In short, more of these is needed to bring some form of mass conviction and support to blockchain if it is to really thrive in a massive way.

[wxa7115]

They are talking about cryptocurrency backed by gold here - http://cryptoandblockchaintalk.com/cryptocurrency-backed-by-gold-26
Will it work? What else could be used to back crypto and why would it work in your opinion?

This idea has been tried several times and it has not worked and most of the projects turned out to be a scam, so if I were you I will stay away from those projects because it is likely the same people are behind them and are trying the same scam again, however such a cryptocurrency will not work even if it was legit, because you will need a centralized party storing all that gold and you will need to trust them that they are in fact holding the gold they say they are holding.

But the biggest problem for such a coin is that it is likely that governments will eventually find where to vaults are located and will confiscate the gold and will destroy the coin, this is why bitcoin is decentralized so governments cannot do that.

[danfred]

They are talking about cryptocurrency backed by gold here - http://cryptoandblockchaintalk.com/cryptocurrency-backed-by-gold-26
Will it work? What else could be used to back crypto and why would it work in your opinion?

As for me, the only goal of this thread is creating hype about the ICO that is in the first post. There were tons of similar discussions and answer is almost the same.

[jack8989]

They are talking about cryptocurrency backed by gold here - http://cryptoandblockchaintalk.com/cryptocurrency-backed-by-gold-26
Will it work? What else could be used to back crypto and why would it work in your opinion?

I think it will not work as expected. I think every property has its own market. We have foreign exchange market, crypto market, stock market and gold stock. We should divide these markets so that we can control everything more easily. and will be less affected.

[mrhood]

Crypto will never replace such expensive materials and it will never be compared with them.They are too various with their natures and their contributions are different as well.

[Enzos]

It is used to measure the value of other currencies in the gold of our lives. This is because people all over the world recognize the value of gold, which is related to its own scarcity, and this concept has been circulated for a long time. so gold can be used as a general equivalent to measure the value of everything, which of course includes the bitcoin that is only 9 years old.

[moepaing]

I consider that it will not work because these ones are so various that the common aspectes are not here unlike being valuable but it is not enough so much.

[EducoinVietnam]

They are talking about cryptocurrency backed by gold here - http://cryptoandblockchaintalk.com/cryptocurrency-backed-by-gold-26
Will it work? What else could be used to back crypto and why would it work in your opinion?

I saw crypto that is backed by real estate and it does not work as it intended to be, so you should be very careful investing in the projects like this, because of high limitation of growth frequency.

[bchain22]

They are talking about cryptocurrency backed by gold here - http://cryptoandblockchaintalk.com/cryptocurrency-backed-by-gold-26
Will it work? What else could be used to back crypto and why would it work in your opinion?

I saw crypto that is backed by real estate and it does not work as it intended to be, so you should be very careful investing in the projects like this, because of high limitation of growth frequency.

I think it would work, but just needs a good dedicated team behind the project. Growth thing is one aspect of this for sure. This is something they have to figure out.

[Copod]

Found this the other day, they are also bringing in real estate aspect http://www.chellecoin.com

So, you can invest in real estate on their platform, as I can understand? My main question is, what happens when there's going to be next housing market crash? These projects can go sour real fast then, no, yes? I feel like yes..

[babsjoe]

I think the value is digital not necessarily gold and other tangible asset! The bitcoin otherwise known as digital gold has outperfomed gold and other precious metal and is hightime we realize that value goin foward will be digital back by good technology!

[TheGreatPython]

I think the value is digital not necessarily gold and other tangible asset! The bitcoin otherwise known as digital gold has outperfomed gold and other precious metal and is hightime we realize that value goin foward will be digital back by good technology!

Well, it is not actually the first time we are going to be seeing gold backed crypto coin in the market, we have seen a lot of them, but my problem in the end is that they are basically failures and there is even no reason why this should be in play in the first place, best to my knowledge. If I want to invest in gold, I can just do that anyway.

Well, like you said anyway, there is a possibility that we are seeing the possibilities of a digital currency backed with real life assets in the long run anyway, based on the fact that the technology if used well can be of help.

[eagleman]

Crypto backed by gold? I think there's already one before that has it.
I think you have heard about Xaurum, this coin was good before and is making some noise but I don't have any thoughts on how it is going today but this coin was said to be backed up by gold market.

[tbterryboy]

Found this the other day, they are also bringing in real estate aspect http://www.chellecoin.com

So, you can invest in real estate on their platform, as I can understand? My main question is, what happens when there's going to be next housing market crash? These projects can go sour real fast then, no, yes? I feel like yes..

Whatever you want to invest in, whether it is gold backed crypto or real estate backed crypto, the most important thing is to be sure you are actually sure you are investing in the right team that can deliver, as a lot of them are just popping up just to collect money from investors but basically have no zeal to do anything regarding development on the project in the long term. As long as you are satisfied with the team, their business solution and what they are after, then you can possibly invest based on that trust.