[ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold

[hulla]

To me it looks like somebody already put his price on buy order, so that make the process quick and not require someone to buy it first. If it takes only 2 minutes, trust me it won't be felt, people won't complain with such a short time.

Yes, I think so too, because the GOLD token is a stable token based on the price of gold, then someone must buy a GOLD token in accordance with the price of gold, and this GOLD token succed to maintain the stability of their token price in accordance with the price of gold.

very interesting indeed, one of the projects is good and unique, its implementation is like a stable coin, maybe GOLD will be the best project in 2019, I think like that

The project is best stable coin the crypto sphere would ever have not to be implemented like and it will certainly be the safe haven when the crypto market correction happen.

You are using the platform of this project, right?

2 minutes is not that bad for conversion but why taking that long? Since it is not instant, is it also done like trading that you are going to make your price and then wait for somebody on the other end to buy it?

Do you see 12 confirmations for that smooth transaction?

2 minutes is much faster than what you will have to wait if you use bitcoin to move your funds. I think the required confirmations on the GOLD platform is for security reasons. The more confirmations required, the more secure your transactions are and the lower odds to see your transactions will be reversed by shady attacks on the network. It think 2 minutes is acceptable waiting period.

I am just a little curious because we're talking here of conversion and not moving funds. I mean moving Bitcoin is definitely going to take more than a couple of minutes but not when we are converting in whatever platform we use. In fact, conversion in other platforms such as exchanges could take an instant unless you would first make a more or less competitive sell order and wait for it to be filled.

So again, is it also done like trading that you are going to make your price and then wait for somebody on the other end to buy it?

I dont think thats how it works because the digital gold marketplace was said to be instantly executed exchange procedure of buying and sell digital gold for BTC/ETH or vice versa. In other to achieve constant buy/sell order the project teams will have to do some buy back of either digital token, BTC or ETH.

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[NathanJB]

You are using the platform of this project, right?

2 minutes is not that bad for conversion but why taking that long? Since it is not instant, is it also done like trading that you are going to make your price and then wait for somebody on the other end to buy it?

Do you see 12 confirmations for that smooth transaction?

2 minutes is much faster than what you will have to wait if you use bitcoin to move your funds. I think the required confirmations on the GOLD platform is for security reasons. The more confirmations required, the more secure your transactions are and the lower odds to see your transactions will be reversed by shady attacks on the network. It think 2 minutes is acceptable waiting period.

I am just a little curious because we're talking here of conversion and not moving funds. I mean moving Bitcoin is definitely going to take more than a couple of minutes but not when we are converting in whatever platform we use. In fact, conversion in other platforms such as exchanges could take an instant unless you would first make a more or less competitive sell order and wait for it to be filled.

So again, is it also done like trading that you are going to make your price and then wait for somebody on the other end to buy it?

I dont think thats how it works because the digital gold marketplace was said to be instantly executed exchange procedure of buying and sell digital gold for BTC/ETH or vice versa. In other to achieve constant buy/sell order the project teams will have to do some buy back of either digital token, BTC or ETH.

Thanks for this clarification. So the confirmation process is taking place within the platform itself and not outside or a blockchain confirmation. And for the exchanges to be instantaneous- well, 2 minutes more or less- the platform itself will have to get directly involved in the buying and selling. Clear enough.

[coupable]

Yesterday, i used the digital gold Marketplace to convert my Gold token into bitcoin. The process was quite smooth and just at time of swap i realised that Gold token reached more exchanges, so to conclude that traders use it as a stable coin maybe used to freeze funds against Market volatility and to store funds within & out of exchanges.
I have two major notes :
1) It's optional to add an email address to the form to be filled for swap execution. The email used to send swap session details to the token owner. If i choose to not add my email then refresh the web page after the process starts, how to get again my session details?
I think about to suggest changing order ID into a downloadable "Letter of Garantee".
2) Bech32 addresses are not accepted to receive bitcoins. I don't know what should be the reasons but i would suggest team to revise the code in order to support all kinds of addresses.

[wwzsocki]

...2) Bech32 addresses are not accepted to receive bitcoins. I don't know what should be the reasons but i would suggest team to revise the code in order to support all kinds of addresses.

This is already known that Bech32 addresses are not recognized by the Marketplace system, so they can't be used on the Digital Gold Marketplace website.

I only want to say that such a minor problem, which could be seen as not important, can be a very big problem for many people and this can be the reason to dislike instant swap feature on the marketplace and to avoid it, so do whatever is possible to resolve this issue.

I had already a couple of times such problems with BTC addresses on many occasions and this was always, really big problem because many times these were the only BTC funds I had at this moment and now I had to figure out, how to send it to a different address which will be good for the token swap in the marketplace. For little less oriented people it can be such a big problem that they will not be able to figure out what is going on at all. Others will just avoid it and find some other solutions.

If possible do it ASAP and if not add a proper explanation on the site that Bech32 addresses for BTC are not recognized, to make it clear for users.

[GOLD_official]

Yesterday, i used the digital gold Marketplace to convert my Gold token into bitcoin. The process was quite smooth and just at time of swap i realised that Gold token reached more exchanges, so to conclude that traders use it as a stable coin maybe used to freeze funds against Market volatility and to store funds within & out of exchanges.
I have two major notes :
1) It's optional to add an email address to the form to be filled for swap execution. The email used to send swap session details to the token owner. If i choose to not add my email then refresh the web page after the process starts, how to get again my session details?
I think about to suggest changing order ID into a downloadable "Letter of Garantee".
2) Bech32 addresses are not accepted to receive bitcoins. I don't know what should be the reasons but i would suggest team to revise the code in order to support all kinds of addresses.

Dear coupable,

We will forward your suggestion about the email to the devs team. The issue about bech32 bitcoin addresses already in development.

Regards,
Support Team @ Digital Gold
https://gold.storage

[wwzsocki]

...So again, is it also done like trading that you are going to make your price and then wait for somebody on the other end to buy it?

I dont think thats how it works because the digital gold marketplace was said to be instantly executed exchange procedure of buying and sell digital gold for BTC/ETH or vice versa. In other to achieve constant buy/sell order the project teams will have to do some buy back of either digital token, BTC or ETH.

...So the confirmation process is taking place within the platform itself and not outside or a blockchain confirmation. And for the exchanges to be instantaneous- well, 2 minutes more or less- the platform itself will have to get directly involved in the buying and selling. Clear enough.

As we are talking about the transaction I have made, I fill obligated to confirm that indeed this is how it works as described above.

It is a fixed price that is published on the marketplace page and constantly changing.

One just has to send GOLD tokens to an address displayed on the marketplace website, so the instant exchange can start and later we follow the process on the screen.

On the left, we see when GOLD tokens entered the Digital Gold project wallet and after a few seconds on the right side of the screen start the process of withdrawing funds to our wallet, which is also displayed live with all details. Additionally, there are links provided to proper explorers with all detailed info about these transactions.

Here once again the screen to make it easier to understand for somebody who is reading this for the first time.

[dkbit98]

GOLD token is doing something interesting, and now Tether tried to do the same thing with creating their own version of gold backed stable token.

[indo1]

GOLD token is doing something interesting, and now Tether tried to do the same thing with creating their own version of gold backed stable token.

Stable currencies that follow the world gold price are good for the GOLD project, is there no public demand to add other features besides being a crypto currency that is stable following the gold price chart? and what is the main mission of the future GOLD project that is ready to become popular in the future? I hope you are pleased to share it here a little

[Bitcoin_Arena]

Stable currencies that follow the world gold price are good for the GOLD project, is there no public demand to add other features besides being a crypto currency that is stable following the gold price chart?

What other feature do you think GOLD Token should have? 

what is the main mission of the future GOLD project that is ready to become popular in the future? I hope you are pleased to share it here a little

Much of the information is already in the whitepaper : https://gold.storage/wp/White_paper_en.pdf

 The aim of the GOLD Project is to enable people to conveniently and instantly trade, own and store investment grade gold in a digitized form which is Gold Token without having to go through the hustle of having to access physical gold, verifying it from fakes, trying to secure it from robbers and thieves after buying it etc

[watergold]

I want to ask when when will the GOLD project release the Androi and iOS versions of the application wallet? seen from the Q3 road map written and until now I still do not get information about it, does anyone know please give an explanation?

[Buchi-88]

I want to ask when when will the GOLD project release the Androi and iOS versions of the application wallet? seen from the Q3 road map written and until now I still do not get information about it, does anyone know please give an explanation?

You can already store Gold on the MyEtherWallet App "MEWconnect" for what you need a separate Gold ERC20 Wallet?

https://mewconnect.myetherwallet.com

[GOLD_official]

The lifetime GOLD token trading volume record of over $100 Million in January 2020!

[kolonel_x]

I want to ask when when will the GOLD project release the Androi and iOS versions of the application wallet? seen from the Q3 road map written and until now I still do not get information about it, does anyone know please give an explanation?

You can already store Gold on the MyEtherWallet App "MEWconnect" for what you need a separate Gold ERC20 Wallet?

https://mewconnect.myetherwallet.com

Maybe what @watergold means is that it has its own application, well of course Myetherwallet can store GOLD tokens because it's based on Ethereum.

[tbct_mt2]

The lifetime GOLD token trading volume record of over $100 Million in January 2020!

GOLD token has been listed and actively traded on:
- BitForex: https://www.bitforex.com/en/spot/gold_btc (the active one for GOLD currently with about 37 BTC exchanged last 24 hours).
- Livecoin: https://www.livecoin.net/en/trading/GOLD_BTC
- Cryptex: https://cryptex.net/trade/GOLDUSD
I hope to see GOLD token on reputable and huge exchanges, like Binance, Poloniex, Bittrex, Huobi Pro, and more.

[Sharkzz1]

Liquidity is poor, and this is not very good. In my opinion, the time has already passed when the top 10 coins could change regularly. Real digital gold is Bitcoin. There is still much space among cryptocurrencies for new coins, but this is only an opportunity to earn, but not compete with current leaders.

[posi]

I want to ask when when will the GOLD project release the Androi and iOS versions of the application wallet? seen from the Q3 road map written and until now I still do not get information about it, does anyone know please give an explanation?

You can already store Gold on the MyEtherWallet App "MEWconnect" for what you need a separate Gold ERC20 Wallet?

https://mewconnect.myetherwallet.com

Maybe what @watergold means is that it has its own application, well of course Myetherwallet can store GOLD tokens because it's based on Ethereum.

Certainly but theoretically the project wallet for Android and iOS versions is already been released since the token is Ethereum based ERC20 token and if he's thinking of the project team releasing their mobile wallet, i dont see that happen unless they want to create and move to their own blockchain.

[Sterbens]

The lifetime GOLD token trading volume record of over $100 Million in January 2020!

GOLD token has been listed and actively traded on:
- BitForex: https://www.bitforex.com/en/spot/gold_btc (the active one for GOLD currently with about 37 BTC exchanged last 24 hours).
- Livecoin: https://www.livecoin.net/en/trading/GOLD_BTC
- Cryptex: https://cryptex.net/trade/GOLDUSD
I hope to see GOLD token on reputable and huge exchanges, like Binance, Poloniex, Bittrex, Huobi Pro, and more.

This is an extraordinary achievement that GOLD is able to trade with high volume. It means there is a large investor behind this token so many are traded.
I hope that one with this token can enter the most popular exchange in the world, Binance.

[suzanne5223]

Liquidity is poor, and this is not very good.

The last time i checked liquidity is among the top priority of the project team and the project liquidity is pretty good so far

In my opinion, the time has already passed when the top 10 coins could change regularly.

Thats correct but traders and investors still need to keep their project save while they also have the chance of buying when the price is dip.

Real digital gold is Bitcoin.

Course but it still very volatile in nature while gold is more stable in price than bitcoin which i believe was the reason why this project team backed their token with liquid gold.

There is still much space among cryptocurrencies for new coins, but this is only an opportunity to earn, but not compete with current leaders.

This token was not created to compete with current leaders in terms of cryptocurrency but to stand out and make a good impact.

[ChrisPop]

I haven't checked the GOLD token for a while. I am glad that it is developing nicely. I see that the volume is constant and increasing.
Are there any integrations with third parties yet or do you have anything in the pipeline?

GOLD needs visibility and IMO if you can pull off some partnerships with medium-big ecommerce websites and successfully integrate a payment channel, your exposure will exponentially raise thus increasing the volume. As you are listed on Bitforex you can start by focusing on the Asian market first and then expand. It's just a suggestion though - you know the plan better.

[GOLD_official]

I want to ask when when will the GOLD project release the Androi and iOS versions of the application wallet? seen from the Q3 road map written and until now I still do not get information about it, does anyone know please give an explanation?

Dear watergold,

The mobile app is not a top priority now. According to surveys, only a few percent of investors are interested in such app. Therefore, dev team doing some other tasks with high priority.

GOLD token is doing something interesting, and now Tether tried to do the same thing with creating their own version of gold backed stable token.

Stable currencies that follow the world gold price are good for the GOLD project, is there no public demand to add other features besides being a crypto currency that is stable following the gold price chart? and what is the main mission of the future GOLD project that is ready to become popular in the future? I hope you are pleased to share it here a little

Dear indo1,

Everything is simple. Next 5-20 years, the GOLD token will increase significantly compared to the USDT in dollar terms. If you store USDT or other crypto and sometimes exit to USDT that you lose money due to USD inflation. The gold in the 21st century is growing not just at the inflation level, but significantly ahead of it.

Liquidity is poor, and this is not very good. In my opinion, the time has already passed when the top 10 coins could change regularly. Real digital gold is Bitcoin. There is still much space among cryptocurrencies for new coins, but this is only an opportunity to earn, but not compete with current leaders.

Dear Sharkzz1,

Bitcoin and GOLD are 2 different stories, like a helicopter and an airplane. They perform completely different tasks.

Regards,
Support Team @ Digital Gold
https://gold.storage