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

[mindrust]

I'd rather buy physical gold. I don't see the advantage.

A wise man once said:

"If you can't lick it, you don't own it."

I lick my gold coins from time to time just to be sure they are still mine.

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[hosseinimr93]

I'd rather buy physical gold. I don't see the advantage.

Physical gold and GOLD tokens each have their own benefits.

There are many advantages in having GOLD tokens.
One of advantages is that, you can trade bitcoin, ethereum, etc. with GOLD. That's not possible using physical gold.

GOLD tokens can be used as a stable coin. Compare GOLD tokens with USDT. Which one do you prefer? Tokens backed by physical gold or tokens backed by a fiat money which can easily be printed? Tokens that are provably backed by gold or tokens that are backed by dollar without any proof?
So, GOLD tokens can be used by those who look for a trustworthy stable coin.

Another advantage of GOLD tokens is that you can buy and sell gold anonymously and at any fraction. Can you buy 1 dollar worth of physical gold?

[mindrust]

Physical gold and GOLD tokens each have their own benefits.

There are many advantages in having GOLD tokens.
One of advantages is that, you can trade bitcoin, ethereum, etc. with GOLD. That's not possible using physical gold.

Why would anybody want to trade gold... It is the ultimate hodl asset. Yeah it is cool for those who want to...

GOLD tokens can be used as a stable coin. Compare GOLD tokens with USDT. Which one do you prefer? Tokens backed by physical gold or tokens backed by a fiat money which can easily be printed? Tokens that are provably backed by gold or tokens that are backed by dollar without any proof?

The audits of this company (Digital Gold Ltd.) are being made by bullionstar. (another company from Singapore)  It means, I am trusting them when I buy gold by purchasing these tokens. It is not really different than trusting Bitfinex. They say they have the funds to back their tokens too.

The only proof I need is my eyes. I don't need the promise of having gold. I need gold.

So, GOLD tokens can be used by those who look for a trustworthy stable coin.
Another advantage of GOLD tokens is that you can buy and sell gold anonymously and at any fraction. Can you buy 1 dollar worth of physical gold?

I wouldn't buy $1 worth of gold even if I could. I guess I don't belong to your target audience.

[wwzsocki]

A wise man once said:

"If you can't lick it, you don't own it."

Wise man lived for sure a long time ago. It is impossible to lick any BTC and I am sure you will like to have one, even 1 GOLD token would be a nice surprise  .


Now without jokes, I keep thinking about Uniswap and to open a pool there for the GOLD token?

Maybe Digital Gold team could do it as a big holder of GOLD tokens?

It is only an idea and I want to discuss it, I don't know if this is even possible (legally?), but I can see obvious reasons to do it.

There is a big profit potential if you are sitting on large amounts of tokens and could provide liquidity to Uniswap.

Not only it could benefit the GOLD token from obvious reasons but also bring an additional source of income for the Digital Gold team.

As I said it is only a simple idea and would be great to talk about it. Is it possible, are there no legal issues, would be profitable and could bring benefits for the GOLD token and the team?

[mindrust]

A wise man once said:

"If you can't lick it, you don't own it."

It is impossible to lick any BTC

That's why another also wise but younger man once said something else, with the same meaning:

"Not your keys, not your coins."

[posi]

Warren is some kind old fashioned and i dont see him invest in Bitcoin.

I'd never say never

Agreed.

Afaik he didn't also invested in actual gold. And probably he will not invest in actual Bitcoin. But in the same way he invested in gold-related company, he may invest in some known Bitcoin related company. Just like that.

As I've seen written somewhere: he is usually invests in companies.

Of course, the news were beneficial for gold, I don't deny that and also I don't mind 

Once he invested in Gold related company he has invested in Gold but I don't think he will invest in BTC if the issue of the network is always the same whenever there's huge traffic and if he wants to invest in BTC he would have done so due to BTC market trend when there's total lockdown.

The audits of this company (Digital Gold Ltd.) are being made by bullionstar. (another company from Singapore)

Buillon Star was actually a vault storage company and they also offer online live audit report of Golds which company have with them which what all genuine crypto related precious metal project does.

I keep thinking about Uniswap and to open a pool there for the GOLD token?

Maybe Digital Gold team could do it as a big holder of GOLD tokens?

The Gold team are welcome for every new ideas and I believe they will have already thought about it before now but it seems like Uniswap also charge some certain fee which I think maybe high.

A wise man once said:

"If you can't lick it, you don't own it."

It is impossible to lick any BTC

That's why another also wise but younger man once said something else, with the same meaning:

"Not your keys, not your coins."

You're but if we want to embrace the future there are some things we need to sacrifice. However, a project whos self funding won't dare destroy what they worked for.

[wwzsocki]

That's why another also wise but younger man once said something else, with the same meaning:

"Not your keys, not your coins."

I don't understand what this has to do with Gold tokens?

If you are talking about the real gold in the vault, then this is the idea of tokenized gold and Digital Gold team did all that possible to make it transparent and safe by choosing the best services to work with like BullionStar.

[NeuroticFish]

I lick my gold coins from time to time just to be sure they are still mine.

Did you also bite them? I mean, how sure you can be it's not something else just (electrostatically) painted with gold? Don't you also rely on somebody else's word on it (the certificate's issuer)?

Once he invested in Gold related company he has invested in Gold but I don't think he will invest in BTC if the issue of the network is always the same whenever there's huge traffic and if he wants to invest in BTC he would have done so due to BTC market trend when there's total lockdown.

Maybe he will invest in a Bitcoin mining company, where the income rises exactly when the traffic increases.
Don't underestimate the "busy network" part of Bitcoin. Some do make big money off it and that makes it harder to make it "go away" for good.

[mindrust]

I lick my gold coins from time to time just to be sure they are still mine.

Did you also bite them? I mean, how sure you can be it's not something else just (electrostatically) painted with gold? Don't you also rely on somebody else's word on it (the certificate's issuer)?

I do bite them actually. Or bend them. I am yet to be disappointed. All of them are verified by my own eyes.

[tbct_mt2]

A wise man once said:

"If you can't lick it, you don't own it."

It is impossible to lick any BTC

That's why another also wise but younger man once said something else, with the same meaning:

"Not your keys, not your coins."

There are advantages and disadvantages of anything in life.

The same for Tether USD or any other stable coins are backed by USD. Some will choose USD with bank account, some will choose Tether USD or other stable coins with their control on seeds. Stable coins can be frozen in your wallets but if you accept risks and see more good things from advantages of stable coins, you would prefer to use them rather than USD.

PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

Physical gold and gold tokens are similar.

If licking something to really own it, crypto has not been here.

[GOLD_official]

A wise man once said:

"If you can't lick it, you don't own it."

Wise man lived for sure a long time ago. It is impossible to lick any BTC and I am sure you will like to have one, even 1 GOLD token would be a nice surprise  .


Now without jokes, I keep thinking about Uniswap and to open a pool there for the GOLD token?

Maybe Digital Gold team could do it as a big holder of GOLD tokens?

It is only an idea and I want to discuss it, I don't know if this is even possible (legally?), but I can see obvious reasons to do it.

There is a big profit potential if you are sitting on large amounts of tokens and could provide liquidity to Uniswap.

Not only it could benefit the GOLD token from obvious reasons but also bring an additional source of income for the Digital Gold team.

As I said it is only a simple idea and would be great to talk about it. Is it possible, are there no legal issues, would be profitable and could bring benefits for the GOLD token and the team?

Dear wwzsocki,

It is always good to implement new features to the platform. Uniswap is a great exchange service, but we have our own service for that. You know that such services works on the fees they take from the users. We can provide the same service on our own platform for BTC and ETH. If you want to buy and store gold it is better way to use our marketplace.

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

[posi]

I lick my gold coins from time to time just to be sure they are still mine.

Did you also bite them? I mean, how sure you can be it's not something else just (electrostatically) painted with gold? Don't you also rely on somebody else's word on it (the certificate's issuer)?

Once he invested in Gold related company he has invested in Gold but I don't think he will invest in BTC if the issue of the network is always the same whenever there's huge traffic and if he wants to invest in BTC he would have done so due to BTC market trend when there's total lockdown.

Maybe he will invest in a Bitcoin mining company, where the income rises exactly when the traffic increases.
Don't underestimate the "busy network" part of Bitcoin.

I don't underestimate the busy network of Bitcoin, it just that will be better if the network could be fixed once and for all cause it may also boost the mainstream of Bitcoin.

Some do make big money off it and that makes it harder to make it "go away" for good.

I totally understand the gravity of this statement because this was the exact thing affecting the  betterment of my country, i guess every setting have it own political clubs.

[hulla]

A wise man once said:

"If you can't lick it, you don't own it."

Wise man lived for sure a long time ago. It is impossible to lick any BTC and I am sure you will like to have one, even 1 GOLD token would be a nice surprise  .


Now without jokes, I keep thinking about Uniswap and to open a pool there for the GOLD token?

Maybe Digital Gold team could do it as a big holder of GOLD tokens?

It is only an idea and I want to discuss it, I don't know if this is even possible (legally?), but I can see obvious reasons to do it.

There is a big profit potential if you are sitting on large amounts of tokens and could provide liquidity to Uniswap.

Not only it could benefit the GOLD token from obvious reasons but also bring an additional source of income for the Digital Gold team.

As I said it is only a simple idea and would be great to talk about it. Is it possible, are there no legal issues, would be profitable and could bring benefits for the GOLD token and the team?

Dear wwzsocki,

It is always good to implement new features to the platform. Uniswap is a great exchange service, but we have our own service for that. You know that such services works on the fees they take from the users. We can provide the same service on our own platform for BTC and ETH. If you want to buy and store gold it is better way to use our marketplace.

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

Absolutely. I want to call the team attention to the information they provided on CMC in the "About Digital Gold". Why not include the token (Gold storage) is also available for instant buy/trade on the project marketplace with the link cause most people that know the project through CMC won't be aware of this ease process.

[tbct_mt2]

I don't underestimate the busy network of Bitcoin, it just that will be better if the network could be fixed once and for all cause it may also boost the mainstream of Bitcoin.

It is not accurate this period when Bitcoin network gives you good opportunities to get confirmations with cheap fees. Ethereum network has been too busy recent weeks and fees on its chain is too high than on Bitcoin network.

The problem on bitcoin network is not actually belong to its transaction fee. In my opinion, it has a bigger problem with very limited size, number of transactions for each block. I see fee on bitcoin network periodically falls to low and cheap area for us to use it. On Ethereum network, there are many transactions per day that surely outweigh the ones on bitcoin network, but its fees depend on Gas used and gas limits. DeFi destroys the chances to have cheap fees and fast transactions on ETH network.

[JeromeTash]

You might wanna talk to the developers of bituniverse.org about your token. They think all other tokens listed on other exchanges are part of digital gold and it's being misrepresented in the portfolio app



I haven't checked all but even some tokens are using the same ticker as yours (GOLD) this can easily confuse traders/investors
Like this one: https://mercatox.com/exchange/GOLD/ETH

[hosseinimr93]

I haven't checked all but even some tokens are using the same ticker as yours (GOLD) this can easily confuse traders/investors

Given prices shown in the image provided by you and since every GOLD token represents 1 gram of real gold, only tokens listed on bitforex, livecoin and stellarport have the chance to belong to Digital Gold project.
As far as I know tokens listed on bitforex and livecoin are Digital gold tokens. This has been stated on official website of digital gold.
I also checked tokens on stellarport. There are two different gold tokens on stellarport. One of them belongs to mintx.co and the other one belongs to stellarmetals.org. Since both of them are based on Stellar network, they cannot be Digital gold tokens.

So, only tokens listed on bitforex and livecoin belong to Digital gold project.

[tbct_mt2]

I haven't checked all but even some tokens are using the same ticker as yours (GOLD) this can easily confuse traders/investors
Like this one: https://mercatox.com/exchange/GOLD/ETH

Great point!

It happened only last 2 or 3 months and you should know Digital Gold token is the first GOLD token is backed by gold. The other tokens with name as GOLD are born later than this one.

There are some details about the token:
Contract: 0x0d16450d347c12c086d6c94c76c5aaac35ea07e0
Decimals: 3
Official site: https://gold.storage/

Unfortunately, it seems in Myetherwallet, later born tokens take default position with GOLD name. I was requested to customize Digital gold token as GOLD2 (only need to be different than GOLD).

[tbct_mt2]

Obyte project launched their bonded stable coins. Their announcement on such bonded stablcoins is there. It is interesting idea and they even have 3 different sets of bonded stablecoins. I don't promote them in GOLD project's Announcement thread. What I do want is give the developers that link of announcement to check and maybe build up future partnership with Obyte project, if possible.

Who knows it will be a mutual win-win partnership for Digital Gold and Obyte projects

[GOLD_official]

You might wanna talk to the developers of bituniverse.org about your token. They think all other tokens listed on other exchanges are part of digital gold and it's being misrepresented in the portfolio app



I haven't checked all but even some tokens are using the same ticker as yours (GOLD) this can easily confuse traders/investors
Like this one: https://mercatox.com/exchange/GOLD/ETH

Dear Jerometash,

Unfortunately, we cannot influence the creation of new tokens using the GOLD ticker. Now there are many scammers who are trying to sell newly created tokens under the guise of our tokens. If you notice that our logos, information or something else used not correctly, please report that. We'll try to contact with the developers of the websites and talk about that.

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

[posi]

I haven't checked all but even some tokens are using the same ticker as yours (GOLD) this can easily confuse traders/investors
Like this one: https://mercatox.com/exchange/GOLD/ETH

Great point!

It happened only last 2 or 3 months and you should know Digital Gold token is the first GOLD token is backed by gold. The other tokens with name as GOLD are born later than this one.

Thats correct but I believe the Digital Gold storage team still have to do something because it may somehow affect their project in the future when the project gain huge traffic newbies may misunderstand the imitate project for Gold token. Besides, this is an act of using the influence of this project to gain crypto investors attention.

The team must not silent about this.