Invest in some altcoin that is backed by gold

[Snowflower11]

The market is a lot of good and bad altcoin, it is difficult to accurately determine the future of it. In addition to the altcoin supported by $ such as TUSD, USDT, USD Coin .. the market also has altcoin supported by gold. I see these are altcoin very potential, please refer and understand about them. It has a very bright future! Example: BDT, Maker

Learn more about investing in stablecoins
https://medium.com/makerdao/part-3-the-strengths-weaknesses-of-stablecoins-62f13b592e3f

[bhadz]

These stable coins has potential? IMO there's no potential with these coins and they are just like the savior of the market for a trader in times of needs. Their value never move that much and they are even fluctuating negatively and that's why they are stable coins.

[Mt. Dempo]

I don't think so, if a coin does not have a product that is useful and is not used by many people, then I doubt it and maybe there is no potential in it.

[smoolae]

You always to have take those so-called "stablecoins" with a grain of salt. It's often times that when the creators of the coins have to show their assets that should provide the backing, you often see that they fail to do so.

Often times it's just smoke and mirrors.

[X-ray]

You always to have take those so-called "stablecoins" with a grain of salt. It's often times that when the creators of the coins have to show their assets that should provide the backing, you often see that they fail to do so.

Often times it's just smoke and mirrors.

Most of them never tried to show the dollar or gold to backed the coin itself. I could say that this is being too far to be a real thing. Look at tether and how it was avoiding any audit. I guess if there were no any proof and we should try to avoid such coin.

[Cryptomilz]

The crypto space is full of lies and deceits and it's very important for people to understand that it's very easy for these devs to make claims that are not verifiable. Bitdepositary claim their token is backed by Gold, has anyone actually confirmed this claim?

[jossiel]

The crypto space is full of lies and deceits and it's very important for people to understand that it's very easy for these devs to make claims that are not verifiable. Bitdepositary claim their token is backed by Gold, has anyone actually confirmed this claim?

I have seen the same projects that do tell that they were backed up by gold but its hard to verify if they really were. I'm looking for some articles that will verify this claim but I haven't found any.

I don't usually believe with such claims like being backed up by gold or any asset like real estates. This is just part of their what we call 'marketing' so many will buy their tokens. But if there are coins that are backed up with real gold, I don't know what are they.

[CryptoBry]

I was lead to believe that gold-back coins or tokens can really be valuable but seeing the market right now I am not anymore inclined to believe that they are separate and a different class of digital assets. Yes, they might be stable but is this really the assets that we wanted to have for the long-term? Will inflation not be eating into its real value...? I think nobody really knows what can be, and that is the surest reality we have in this cryptocurrency market no matter what many people might say or use in their press releases.

[diouf67]

Why bother investing in an altcoin that is backed by gold? Just invest in to gold itself. The only reason I can see for these coins is if you don't want to ever hold fiat and so want to be able to trade crypto/gold.

[Vit83]

Why just don't buy gold if you think that price of gold will go up? Why we need crypto that way?

[Monetran]

Here are some good explanations of why gold-backed cryptos don't work:

https://medium.com/datadriveninvestor/f-i-a-new-alternative-in-stablecoins-bb69bc9d2b33

https://medium.com/datadriveninvestor/not-all-stablecoins-are-created-equal-3e738ba22b9f

https://monetran.com/currency-support/

All you need to know.

[didzi]

Why just don't buy gold if you think that price of gold will go up? Why we need crypto that way?

maybe the OP think if the value of cryptocurrencies thats backed by gold will be stable as the price of gold,,
i agree with you, if the OP believe in gold, just buy gold and keep it

[Febo]

The market is a lot of good and bad altcoin, it is difficult to accurately determine the future of it. In addition to the altcoin supported by $ such as TUSD, USDT, USD Coin .. the market also has altcoin supported by gold. I see these are altcoin very potential, please refer and understand about them. It has a very bright future! Example: BDT, Maker

Learn more about investing in stablecoins
https://medium.com/makerdao/part-3-the-strengths-weaknesses-of-stablecoins-62f13b592e3f

Why would you not rather buy gold instead of alt coins that are backed by gold? Is it not safer you hold gold at home then some company in their place and giving you a dream that they will give that gold to you when you will deliver them a coin?

[i7claufe]

These kinds of cryptos are becoming very common these days. I personally think it would affect the market if this was the first one but as the crypto is going on now, there are so many platforms that does this and its not doing the cryptosphere any good.

[VadikZimnyayaRezina]

The market is a lot of good and bad altcoin, it is difficult to accurately determine the future of it. In addition to the altcoin supported by $ such as TUSD, USDT, USD Coin .. the market also has altcoin supported by gold. I see these are altcoin very potential, please refer and understand about them. It has a very bright future! Example: BDT, Maker

Learn more about investing in stablecoins
https://medium.com/makerdao/part-3-the-strengths-weaknesses-of-stablecoins-62f13b592e3f

It's like putting on deposit, just a stable cash fund. But she has no other use and prospects for moving anywhere. An example of that is  Tether.

[slaman29]

The market is a lot of good and bad altcoin, it is difficult to accurately determine the future of it. In addition to the altcoin supported by $ such as TUSD, USDT, USD Coin .. the market also has altcoin supported by gold. I see these are altcoin very potential, please refer and understand about them. It has a very bright future! Example: BDT, Maker

Learn more about investing in stablecoins
https://medium.com/makerdao/part-3-the-strengths-weaknesses-of-stablecoins-62f13b592e3f

Investing in gold I can accept, but why invest in stablecoins? The whole concept of stablecoins is that they have to have a stable price, not depreciating or appreciating in value over time. And we can see even the king of stable USDT is slowly losing value over time. Why would I ever want to invest something like that? At least I know gold has equal or rising value. 1 ounce of gold today buys the same things it used to buy a hundred years ago. Think stablecoins have that same sort of value? I don't think so.

[diouf67]

Why just don't buy gold if you think that price of gold will go up? Why we need crypto that way?

maybe the OP think if the value of cryptocurrencies thats backed by gold will be stable as the price of gold,,
i agree with you, if the OP believe in gold, just buy gold and keep it

I suspect that the idea is that they don't want to hold fiat because they believe that fiat will always lose its value over time. Whereas they believe gold and alt-coins will increase in value. Having a gold backed stable coin allows them to trade alts to gold and vice versa.

[joniboini]

Having a gold backed stable coin allows them to trade alts to gold and vice versa.

This is easy to do if they can claim it easily, but the problem is most of the time it is quite hard to do so. If you live in South-East Asia, how will you be able to claim that "gold" from some developer who lives in Europe? Most of the time you'll probably trade it because it's quite fast and simple, and because of that there's no real reason to actually tokenize or create a coin which is pegged to gold or any other assets. It will be just pure speculation, with limited usage. No need to buy a token to own gold, just go to your local store and buy gold, store it in your home and you're good to go.

[Red-Apple]

being backed by something translates into being centralized and being centralized is not something that can succeed in a market that is based upon decentralization and all the benefits of that.
people in the market (in short term pump and dumps) may not care about decentralization but in the long run that is what can succeed. otherwise we already have centralized fiat, there is no point in centralized crypto.

[suzanne5223]

These stable coins has potential? IMO there's no potential with these coins and they are just like the savior of the market for a trader in times of needs. Their value never move that much and they are even fluctuating negatively and that's why they are stable coins.

Well, you seems not to get it when you said the stable coins has no potential which you later said they are the savior of the market which the trader use in keeping their profit/investment intact in the season of market fluctuation and that was stable potential.However, everything are unique in there ways.