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

[GOLD_official]

What are advantages of Digital Gold over PAX Gold? I watched Pax's video and they say there is no storage fee while GOLD has 0.99% annual storage fee. I am aware that PAX Gold has 0.02% transaction fee but that's still a lot lower than Digital Gold.

Dear kro55,

The question is posed incorrectly. It should be like that. What are PAX Gold over Digital Gold advantages? Our company launched the world's first stablecoin backed by gold. Now many companies began to copy this solution. This is great news for us! The presence of competition indicates the effectiveness of the solution (digitization of gold). Naturally, each new company is trying to find its competitive advantages. You note that PAX Gold do not charge annual fee. If this is true, who exactly pays for the physical gold storage? If it is actually deposited in London banks, these banks take a fee to store gold. We do not charge fees for transactions, PAX Gold charges 0.02% fee.


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

[1714205665]

1714205665

[1714205665]

1714205665

[tbct_mt2]

Indeed I personally think that the gold price will rise at least to the end of this year. Strong up but also with a lot more volatility as always and the more stable the crisis gonna be the slower the price will go up. Real gold was always the best safe heaven in crisis times and this is why this time is no different and we see the gold price going to new heights.

What do you think if will we witness another 4 years of bull for gold like what we witnessed in the past when Gold setup its all time high? I am not overoptimistic about anything but with what we have to face with, the pandemic, the financial crisis, tha bankcruptcy to come, gold has a bright future growth next years. Not sure it bullish period will last 4 years, maybe a bit longer or shorter. Hold your gold tightly till the end of next year (2021).

Price of gold has currently stood above $1700, at $1723 (per ounce). That price is the highest price of gold since 2013. It seems our expected price trend has been on the good ride.
https://www.bullionvault.com/gold-price-chart.do

On the other side, we have good news on the pandemic, in European nations but if things will go on what we discuss, the really big issues will appear after the pandemic stops or halts with health system. When the burden of the pandemic on health system drops dramatically, governments will have more fully assessments on economic effects of the pandemic, and such kind of coming reports will help gold rising upwards much significantly.

[wwzsocki]

...Price of gold has currently stood above $1700, at $1723 (per ounce). That price is the highest price of gold since 2013. It seems our expected price trend has been on the good ride...

I thought that the gold price will rise and of course at this same time the GOLD token price, but I haven't even imagined that this will be so fast and a strong move.
This only indicates one thing, that there is a big need for real gold and lately I see a lot of news which confirms that there is not enough gold on the market.

This means that gold prices will keep rising and only because of this now even more people will look to invest in real gold, but because of the too-small supply it will be hard to do it and finally many of them will search for alternative ways to invest like the GOLD token from Digital Gold project. I am completely sure that cryptocurrency enthusiasts and investors will choose the GOLD token if they would have problems investing/buy real gold and this is only the beginning.


https://www.bitforex.com/en/spot/gold_usdt

With every new day, there will be less gold on the market and the price will rise, so I am expecting now a big rally.

Just look at the GOLD/USD chart above and if you haven't bought GOLD tokens yet, then do it ASAP and enjoy the ride, just like me.
I am so happy that I invested in GOLD two weeks ago, only in the last few days price spiked more as 20% and seems like this is only the beginning.

[NeuroticFish]

With these day of nice growth of GOLD price, I got to see myself how storage fee works and I think I've seen a problem.

The website tells that the fee is 0.0027% per day.
I had 5.94 GOLD and although the calculation would say:
fee = 5.94 * 0.0027 / 100 = 0.00016038 GOLD,
my wallet was paying 0.001 GOLD, which is 6 times more.

I'm also curious that since now I have only 0.024 GOLD (which I hoped I can convert into some ETH change for gas and I've seen late that it's under the minimum limit) I'll still pay 0.001 GOLD / day?
I think that some fine tuning is necessary. And yes, I know that you have only 3 decimal places and the contract is live, so I don't know what a fair solution would be.

[Tytanowy Janusz]

so I don't know what a fair solution would be.

0.001 Gold is equal to 5 cents. I think that it is more than fair minimal fee for storing gold. 5$ minimum transaction also seems to be fair. Even exchanges like binance has minimum trade size set to 0.001 BTC (~7$).
If both of those information are in TOS than I don't see more fair solution. We are buying physical gold. I would not expect that someone will process transactions for the amount of gold that can be hidden under the nail.

[NeuroticFish]

0.001 Gold is equal to 5 cents. I think that it is more than fair minimal fee for storing gold.

So if one has 1$ worth of GOLD he cannot do much with it and will be considered donation?

Even exchanges like binance has minimum trade size set to 0.001 BTC (~7$).

And still some exchanges work with much lower limits. Getting only the examples that suit you don't prove anything.

If both of those information are in TOS than I don't see more fair solution.

Can you please point this in TOS? I didn't find it.


PS. I was trying to help GOLD team to improve, because if I've seen this, others will see it too. I don't want to argue unnecessarily, but it seems that you do. My point is that math is math and should work the same for big or small values. The exceptions should be written down and easy to be found.

[Tytanowy Janusz]

So if one has 1$ worth of GOLD he cannot do much with it and will be considered donation?

And still some exchanges work with much lower limits. Getting only the examples that suit you don't prove anything.

Can you please point this in TOS? I didn't find it.

I didn't say that it is in TOS. I said that if it is than it's 100% fair. If not than it should be added. You have transaction limits, withdrawal limits all around the exchanges/gambling sites. 50$ min withdrawal is not fair. 5$ is fairer than in most services. Not only binance.

I don't want to argue unnecessarily, but it seems that you do.

I didn't. The tone of my post can be misleading because English is not my native language. I just wanted to point out that it is completely normal and is happening on almost every service. Also, as you pointed out impossible to change due to 3 decimals in SC. So why even talk about that?

[NeuroticFish]

I didn't say that it is in TOS. I said that if it is than it's 100% fair. If not than it should be added. You have transaction limits, withdrawal limits all around the exchanges/gambling sites. 50$ min withdrawal is not fair. 5$ is fairer than in most services. Not only binance.

The small exchanges expect users have low value tokens and small tiny value investments and do such trades. I've already exchanged my remaining 1$ worth of GOLD into Bitcoin (!!).
Binance indeed has higher limits, but also offers the exchange into BNB of everything close enough to dust.
It's also well known that coins like Dogecoin or Ripple can be easily used to transport tiny amounts out of exchanges.
So all is possible with a tiny bit of imagination.

However, GOLD has to have this info written down. And from my research it's not. I wrote that they have to do something. Updating the TOS and the Fees pages is a valid option.

I didn't. The tone of my speech can be misleading because English is not my native language.

OK. Then I'll consider as a valid change of opinions. Your idea about ToS was good.

[GOLD_official]

With these day of nice growth of GOLD price, I got to see myself how storage fee works and I think I've seen a problem.

The website tells that the fee is 0.0027% per day.
I had 5.94 GOLD and although the calculation would say:
fee = 5.94 * 0.0027 / 100 = 0.00016038 GOLD,
my wallet was paying 0.001 GOLD, which is 6 times more.

I'm also curious that since now I have only 0.024 GOLD (which I hoped I can convert into some ETH change for gas and I've seen late that it's under the minimum limit) I'll still pay 0.001 GOLD / day?
I think that some fine tuning is necessary. And yes, I know that you have only 3 decimal places and the contract is live, so I don't know what a fair solution would be.

Dear NeuroticFish,

Thanks for the comment and help with the development of the marketplace. We will discuss that with the developers. If you have left 0.024 GOLD, then there should not be daily charges. Now we charge only from the wallets with more than 1 GOLD on it. You are right, the main problem is in 3 digits, so it is not possible to charge less that 0.001 GOLD.

If you store your tokens on any exchange we do not changes fees.

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

[NeuroticFish]

If you have left 0.024 GOLD, then there should not be daily charges.

There were charges last night, I don't know if they were related to the fact some hours before I still had GOLD in the wallet or not.
However, I've moved away the small amount so I cannot check further.

Now we charge only from the wallets with more than 1 GOLD on it.

Please write this at least into the fees page


I'm glad if my comment did help. Keep up the good work GOLD team!

[hulla]

With these day of nice growth of GOLD price, I got to see myself how storage fee works and I think I've seen a problem.

The website tells that the fee is 0.0027% per day.
I had 5.94 GOLD and although the calculation would say:
fee = 5.94 * 0.0027 / 100 = 0.00016038 GOLD,
my wallet was paying 0.001 GOLD, which is 6 times more.

I'm also curious that since now I have only 0.024 GOLD (which I hoped I can convert into some ETH change for gas and I've seen late that it's under the minimum limit) I'll still pay 0.001 GOLD / day?
I think that some fine tuning is necessary. And yes, I know that you have only 3 decimal places and the contract is live, so I don't know what a fair solution would be.

If you store your tokens on any exchange we do not changes fees.

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

To avoid misconception because it seems you make a mistake. Do you mean you dont charge fees for token kept on exchange? If you dont charge less than 0.001Gold, is the fee only applied for working days or round the clock?

[wwzsocki]

... it is not possible to charge less that 0.001 GOLD...

Just add it to your ToS and website in a visible place, just like @NeuroticFish suggest keep everything transparent as possible.

As for now, the fee is still small, but what if the price will rise 10x? Everything is possible and I think devs have to rethink the fee strategy one more time and make an update.

The fee subject comes back as boomerang even in this thread, so it can be considered as a problem which only will grow if not changed on time.

Just my honest opinion and you know that I was also surprised by the fees a few weeks ago, despite, I use the GOLD token from few months and thought that I know everything about it.

[hosseinimr93]

To avoid misconception because it seems you make a mistake. Do you mean you dont charge fees for token kept on exchange? If you dont charge less than 0.001Gold, is the fee only applied for working days or round the clock?

Below is the post already made by GOLD_official regarding the fee charged for tokens kept on exchanges.

According to the agreement with exchanges, where Digital Gold has made a listing, the 0.99% fee is not taken. Any user can keep tokens in his exchange account for years and not pay 0.99% for management.

[GOLD_official]

With these day of nice growth of GOLD price, I got to see myself how storage fee works and I think I've seen a problem.

The website tells that the fee is 0.0027% per day.
I had 5.94 GOLD and although the calculation would say:
fee = 5.94 * 0.0027 / 100 = 0.00016038 GOLD,
my wallet was paying 0.001 GOLD, which is 6 times more.

I'm also curious that since now I have only 0.024 GOLD (which I hoped I can convert into some ETH change for gas and I've seen late that it's under the minimum limit) I'll still pay 0.001 GOLD / day?
I think that some fine tuning is necessary. And yes, I know that you have only 3 decimal places and the contract is live, so I don't know what a fair solution would be.

If you store your tokens on any exchange we do not changes fees.

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

To avoid misconception because it seems you make a mistake. Do you mean you dont charge fees for token kept on exchange? If you dont charge less than 0.001Gold, is the fee only applied for working days or round the clock?

Dear Hulla,

If you keep your GOLD tokens on crypto exchange we do not charge fee. Yes you are right.

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

[blue_hurricanger]

With these day of nice growth of GOLD price, I got to see myself how storage fee works and I think I've seen a problem.

The website tells that the fee is 0.0027% per day.
I had 5.94 GOLD and although the calculation would say:
fee = 5.94 * 0.0027 / 100 = 0.00016038 GOLD,
my wallet was paying 0.001 GOLD, which is 6 times more.

I'm also curious that since now I have only 0.024 GOLD (which I hoped I can convert into some ETH change for gas and I've seen late that it's under the minimum limit) I'll still pay 0.001 GOLD / day?
I think that some fine tuning is necessary. And yes, I know that you have only 3 decimal places and the contract is live, so I don't know what a fair solution would be.

Dear NeuroticFish,

Thanks for the comment and help with the development of the marketplace. We will discuss that with the developers. If you have left 0.024 GOLD, then there should not be daily charges. Now we charge only from the wallets with more than 1 GOLD on it. You are right, the main problem is in 3 digits, so it is not possible to charge less that 0.001 GOLD.

If you store your tokens on any exchange we do not changes fees.

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

Glad to see this clear up. This is a fair fee and there are things need to have a upkeep to maintain and secure so kudo to Digital GOLD team.

[hulla]

With these day of nice growth of GOLD price, I got to see myself how storage fee works and I think I've seen a problem.

The website tells that the fee is 0.0027% per day.
I had 5.94 GOLD and although the calculation would say:
fee = 5.94 * 0.0027 / 100 = 0.00016038 GOLD,
my wallet was paying 0.001 GOLD, which is 6 times more.

I'm also curious that since now I have only 0.024 GOLD (which I hoped I can convert into some ETH change for gas and I've seen late that it's under the minimum limit) I'll still pay 0.001 GOLD / day?
I think that some fine tuning is necessary. And yes, I know that you have only 3 decimal places and the contract is live, so I don't know what a fair solution would be.

Dear NeuroticFish,

Thanks for the comment and help with the development of the marketplace. We will discuss that with the developers. If you have left 0.024 GOLD, then there should not be daily charges. Now we charge only from the wallets with more than 1 GOLD on it. You are right, the main problem is in 3 digits, so it is not possible to charge less that 0.001 GOLD.

If you store your tokens on any exchange we do not changes fees.

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

Glad to see this clear up. This is a fair fee and there are things need to have a upkeep to maintain and secure so kudo to Digital GOLD team.

You make a very vital statement because the success of the project, liquidity and the genuine stable in price of the coin in the market are whats important the most. Especially with the up coming bitcoin halving I'm expecting the project to gain more usage.

[AD Node]

This project is really good, Most of the tokens nowadays don't have a real use, it's really hard to see tokenized things doing right but here is totally different, your team is doing just right steps.

[hulla]

This project is really good, Most of the tokens nowadays don't have a real use, it's really hard to see tokenized things doing right but here is totally different, your team is doing just right steps.

The Gold token team consist of people who are highly experienced in the field of blockchain, finances, economy and strategy and this is the one number thing most crypto investors ought to look for before invest in a project but it sad they ignore that aspect.
With that been said, i dont think you notice the project was the first genuine gold backed liquidity stable coin and what i understand about this project is that this is still the beginning of the journey of good tidy which people will see through this project.

[Ayobami99]

I am not so sure if anyone have asked this question before :
You said Chainsecurity audited your smart contract, you even provided the details of their report in a pdf file. But no where online is there to confirm it not even on chainsecurity website, I have sent an email to them for confirmation no reply yet. But can you give us proof that the document is actually from Chainsecurity? Any online or official confirmation link from them?

2. I have made my research and confirmed that you actually have 19000+g of gold in the bullionstar vault,  this is great. How do people who purchase your tokens confirm that they are true owners of the physical portion of the gold in your care? Any legal documents in case? These are things that settles the mind of the holders.

3. Your stablecoin looks like securities... Any word or confirmation from SEC?
Edit: I'll continue to check this space for answers

Thanks so much for the answers. I concluded my research.
Here is the report of my findings :
https://www.uptrennd.com/post-detail/why-the-world-need-digital-gold-stablecoin-at-this-time~MzEyMjAy
I hope you'll enjoy it

[GOLD_official]

I am not so sure if anyone have asked this question before :
You said Chainsecurity audited your smart contract, you even provided the details of their report in a pdf file. But no where online is there to confirm it not even on chainsecurity website, I have sent an email to them for confirmation no reply yet. But can you give us proof that the document is actually from Chainsecurity? Any online or official confirmation link from them?

2. I have made my research and confirmed that you actually have 19000+g of gold in the bullionstar vault,  this is great. How do people who purchase your tokens confirm that they are true owners of the physical portion of the gold in your care? Any legal documents in case? These are things that settles the mind of the holders.

3. Your stablecoin looks like securities... Any word or confirmation from SEC?
Edit: I'll continue to check this space for answers

Thanks so much for the answers. I concluded my research.
Here is the report of my findings :
https://www.uptrennd.com/post-detail/why-the-world-need-digital-gold-stablecoin-at-this-time~MzEyMjAy
I hope you'll enjoy it

Dear Ayobami99,

Thanks for the great article. Nice to read how people use GOLD tokens.

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