huige007
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November 21, 2019, 10:31:52 AM |
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I dont know if it will be going to be a nation assets like gold ang charcoal here in crypto industry because all of the country has the capability to own it and be one of the whales who will control the market in the future.
Crypto is also a good source of backed-up assets as long as you can hold it and had a patience on this kind of market situation, hopefully there were still lots of chance to make a good comeback soon in terms of uses.
It is not like that all the countries or any government can actually invest in decentralized coins. The investment in digital currencies has to be done by an individual. Even after that no one can claim to own the cryptocurrency. If you are holding just few coins, this does not makes you the authority of that coin. Moreover, if a person invests in Bitcoin then he can on make huge profits with time. Not all coins can do that and Main streaming is just a matter of time.
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jostorres
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November 22, 2019, 09:27:22 AM |
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I think it depends on which company is trying to run the coin. Asset-backed cryptocurrencies are stable coins, they are not as volatile as Bitcoin or other coins such as Ethereum. Take Libra as an example — Facebook is already a popular brand, with over five billion users. So they are the type of organization that is expected to pull this kind of thing off. A lot of people will definitely adopt the Libra coin because Facebook is already a trusted brand.
The reason for most people using stable coins is for transactions and it won't attract most people because there are already lots of brands set out for that purpose like PayPal. As for the volatile crypto coins, those that adopt it usually see it as an investment and he always benefits them, when it doesn't they decide to quit. That's not the same for stable coins unless you're trying to save up some value for the future. I don't think any other company can pull this off except a big brand and I give it to Facebook.
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wxa7115
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November 27, 2019, 09:05:02 PM |
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We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
We have seen several coins like that in the past and all of them have failed the only ones that are still around are stable coins that are backed by fiat and we have no assurance that those coins are going to remain in place for long. All of the coins that are backed by something have the very same problem that bitcoin was trying to solve, you need to rely on a centralized institution to not lie to you and to anyone else and to only create as much currency as assets they have in store and we know that this never ends well, if even the government some of the most powerful institutions around the world are unable to resist the temptation to create as many currency as they want it doesn't seem unbelievable that a smaller private institution is going to do the same.
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X-ray
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November 27, 2019, 11:09:55 PM |
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it's like a company that backs up guys. I think, if they can make backups in real is good, it will be easier for the government to make regulations and monitor them. as well as that could be the future for crypto projects that have backups. but we don't know, whether it is real in backups or just want to make investors not disappointed by writing it on paper. because they never show real proof that they make backups in real places. like gold, energy, silver, etc.
that's the problem, no one can be sure that the gold or any assets that used to backup the crypto really exist. even more suspicious if the country that offers such a thing is a rather unreliable or poor country. at that point, country like that could just outright lying because they don't care about reputation no more but instead they just want to gather as much money from the international market. Even if the showed the proof of the assets. you could never be sure because there's no way to know if they willingly hand out the asset if the crypto is to be exchanged with their asset.
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Sithara007
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November 28, 2019, 01:32:53 AM |
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that's the problem, no one can be sure that the gold or any assets that used to backup the crypto really exist. even more suspicious if the country that offers such a thing is a rather unreliable or poor country. at that point, country like that could just outright lying because they don't care about reputation no more but instead they just want to gather as much money from the international market. Even if the showed the proof of the assets. you could never be sure because there's no way to know if they willingly hand out the asset if the crypto is to be exchanged with their asset.
I don't think there is a problem with that. If the entity that rolls out this type of cryptocurrency conducts independent third party audits once every two or three months, then it can assure the investors about the backup. Else they could keep the funds in third party escrow, with strict terms and conditions for any withdrawal (ideally there should be no clause for withdrawal). What happened with Tether is entirely due to the incompetence of its promoters. Tether used to be a currency that was 100% backed up with either USD, or funds denominated in USD. But without any prior intimation, they used that backup to give a line of credit to Bitfinex. Now this is something entirely unethical, as they were making use of money that was theoretically owned by someone else.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
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asus09
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November 28, 2019, 01:56:42 AM |
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We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
When you backed your assets with cryptocurrency you have help your self with getting much profit later, but if keep your asset with cash money and save on the bank you have help your country with your saving money but you can't help your self because assets is not increase with higher, better keep hold your money in bitcoin to increase earning and get much profit.
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Hallmader
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November 28, 2019, 04:00:12 AM |
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We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
When you backed your assets with cryptocurrency you have help your self with getting much profit later, but if keep your asset with cash money and save on the bank you have help your country with your saving money but you can't help your self because assets is not increase with higher, better keep hold your money in bitcoin to increase earning and get much profit. Just be prepared with price fluctuations along the way. The price of fiat is stable but it is also losing value over a certain period of time. Bitcoin's value is increasing in the long term but there are many price dips going there. Asset backed crypto is good in a sense because their value is pegged on something valuable unlike other cryptocurrencies that are created without anything to support its value. But in the end, it will be all about demand.
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naikturun
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November 28, 2019, 04:08:54 AM |
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It's because they didn't have the gold to back the coins.
Holding gold is expensive (you need a secure vault). Just simply pretending that your coin is backed by gold is a scam and these types of projects fail.
how about stock or crypto like BTC, it dont have the real goods for backed , One reason is that people consider it worth so that BTC has a value if not it's just a bunch of worthless digital numbers, and it goes well until now, if people consider cryptocoins worth so there will no doubt for it, and people will use it right?
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sana54210
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November 30, 2019, 03:38:15 PM |
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This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
Asset backed cryptocurrencies may help in building a nation stronger only if backward investments are done. It means you back up gold for your tokens and from the revue of selling tokens, you must buy gold again to issue more tokens. If this will not happen then asset backed coins will bankrupt like a ponzi scheme. There are already some asset backed cryptocurrencies in the market. Even Facebook claimed that the Libra coin they were going to release is also backed by assets (you can check their website). Some articles I have seen are saying that investing stable coins (asset backed cryptocurrencies) is a huge risk and the mechanisms that are used to peg their price to the assets are complex. Some of the stable coins I know are Atlant, Digix Gold Tokens, OneGram and Cedex. I believe there are lots of others that are out there and more are still coming out.
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ampu
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November 30, 2019, 05:03:06 PM |
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I think the release of cryptocurrencies represents a very complex asset class. There is a specific example of tether, they issue and must always prove the money they have. Issuing assets related to gold, silver, oil and coal will require a corresponding amount of assets. After they issue, can they endorse the amount of assets they own? Orders will occur if they wish. In fact, all types of organic assets can wear out over time and risk being stolen in practice. It will take a lot of rules to realize this idea.
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maianh09
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November 30, 2019, 06:40:28 PM |
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money washing happen anytime, anywhere that we would not know about and asset backed crypto? not crypto only, whold economy. and last one, the nation's own fiat it they could get it on blockchain, it should be over for bitcoin.
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wxa7115
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December 01, 2019, 05:56:49 PM |
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it's like a company that backs up guys. I think, if they can make backups in real is good, it will be easier for the government to make regulations and monitor them. as well as that could be the future for crypto projects that have backups. but we don't know, whether it is real in backups or just want to make investors not disappointed by writing it on paper. because they never show real proof that they make backups in real places. like gold, energy, silver, etc.
that's the problem, no one can be sure that the gold or any assets that used to backup the crypto really exist. even more suspicious if the country that offers such a thing is a rather unreliable or poor country. at that point, country like that could just outright lying because they don't care about reputation no more but instead they just want to gather as much money from the international market. Even if the showed the proof of the assets. you could never be sure because there's no way to know if they willingly hand out the asset if the crypto is to be exchanged with their asset. This already happened, do you remember the petro that was released by the Venezuela government? It was a coin created by a government that was supposedly backed by the oil and mineral reserves of Venezuela but to this day no one has ever made a transaction with that currency, that could tarnish the reputation of any government but in the case of Venezuela they do not really care anymore they are just looking to get all the money that they can. And that kind of attitude is what it has caused all the problems in their country, however there is a very easy way to avoid falling into that scam and that is to remember why bitcoin was created in the first place.
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ser7878
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December 01, 2019, 06:36:35 PM |
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money washing happen anytime, anywhere that we would not know about and asset backed crypto? not crypto only, whold economy. and last one, the nation's own fiat it they could get it on blockchain, it should be over for bitcoin.
Kinda agreed. Imagine also how funny it can be - to mine USD for example. Instead of going to work you can mine money, something inside me says its how it should be.
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TheUltraElite
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December 04, 2019, 06:55:54 AM |
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money washing happen anytime, anywhere that we would not know about How is that related to the topic at hand? and asset backed crypto? not crypto only, whold economy. and last one, the nation's own fiat it they could get it on blockchain, it should be over for bitcoin. Nope. Bitcoin will remain as long as people use it. Even one person using it means that it is still alive. Again why would people trust a asset-backed crypto which is centralized by the government for supply? It is not different from fiat currency and thus will suffer the similar problems of deflation, continuous printing. While the situation at Venezuela is commendable, one should remember that not every country is in the same situation so it not something that will happen.
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tonyvo2017
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Lifestyle & Wellness Platform
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December 04, 2019, 07:08:44 AM |
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We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
I don't think this is a good thing. because backed up is just a term for a business that has a capital surplus and wants to guarantee that type of asset, besides that does not mean anything else. But in the crypto market, nothing is real. I have seen that Jetcoin has invested in several football clubs and it doesn't make any sense. In my opinion, only blockchain technology can change our crypto market.
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TheUltraElite
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December 06, 2019, 08:24:20 AM |
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It seems to me that Venezuela can become a good example for those against whom the sanctions of the leading countries of the world are acting and who, using the example of their oil companies, can use cryptocurrency to pay for the services of their suppliers. Oil can be used as a secondary mode of backing a currency. That may be a good point to ponder over. However the demand and supply also needs to be there to be able to use that currency. How would that happen? Thus, such companies will not use such a currency as the dollar, which will definitely lead to the indignation of the United States and other countries. But at the same time, this will force the governments of these countries to legalize cryptocurrency and agree with the existing reality, where cryptocurrency is the future. The bad thing is that it may not necessarily be cryptocurrency. They may wish to print a new type of fiat currency. That is the problem with centralized government controlled currencies. The government will try to control it as much as possible. Fact is most countries have keep inflation under control. Venezuela was the effect of the severely uncontrolled inflation.
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veleten
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December 06, 2019, 10:35:06 AM |
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I think the release of cryptocurrencies represents a very complex asset class. There is a specific example of tether, they issue and must always prove the money they have. Issuing assets related to gold, silver, oil and coal will require a corresponding amount of assets. After they issue, can they endorse the amount of assets they own? Orders will occur if they wish. In fact, all types of organic assets can wear out over time and risk being stolen in practice. It will take a lot of rules to realize this idea.
there are many issues with the stablecoins or the asset backed coins whatever you call it once SEC or any other regulator decides to check the reserves , these types of coins could and usually do get into trouble Tether is one of the most popular and it got into trouble because they could not prove that they are backed by enough USD also they are tied to an asset , US dollar in this case , that they do not have any influence on
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metalglowd
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December 06, 2019, 03:45:22 PM |
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We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
Well, from the information that i already read, anything like crypto assets have been backup with, its even doesn't give any guarantee like real stuff, Just another name,another features that marketing offer to us as Users. Ironically, more and more they offer us a new features, the more the chance they will lie to us, and finally no products can compete with others.
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Xxmodded
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December 06, 2019, 05:25:49 PM |
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We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
We have seen several coins like that in the past and all of them have failed the only ones that are still around are stable coins that are backed by fiat and we have no assurance that those coins are going to remain in place for long. All of the coins that are backed by something have the very same problem that bitcoin was trying to solve, you need to rely on a centralized institution to not lie to you and to anyone else and to only create as much currency as assets they have in store and we know that this never ends well, if even the government some of the most powerful institutions around the world are unable to resist the temptation to create as many currency as they want it doesn't seem unbelievable that a smaller private institution is going to do the same. Best investment when backed your assets with bitcoin and altcoin because could increase price become higher, when you use your money only saving with bank maybe safety is first thing with your money but believe or not your money will increase less value because every year your money have inflation price but not if you save and backed your money with bitcoin and altcoin.
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fiulpro
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December 08, 2019, 04:21:12 PM |
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Instead of asset backed bitcoins one could really try and think about the coins backed up the government, which would be actually more convenient for the people also at the same time , people would be more ready to invest in something like that since government backed things are more stable and requires less advertising . The asset backed coins would be weird , how are they supposed to work ? Wouldn't it be good to just buy those assets instead of those coins then ?
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