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Author Topic: Coin backed by multiple assets  (Read 251 times)
seleme
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December 08, 2019, 06:41:43 PM
 #21

I think if you are worried about the volatility of the market or a coin like bitcoint then i guess crypto market is not your type and you should look some where else, personally i really love the volatility that crypto market provides, still if you want to stay in market and no volatility on fiat backed stable coins are the option and i like usdc, while other smaller coins that claim to be backed by other commodities or assets are mostly ponzis or scam so no one is going to refer you those.
it’s just that if a person constantly thinks and worries because of the volatility, he will simply go crazy in this market. you need to think how to use volatility for your goals and then you will be in the right place and you will earn a lot of money, but for this, you need to constantly study the market and know what is happening in the world
The volatility is not always friend of trader, the trend is a friend of trader unless he is the wrong side of the market. Fiat backed stable coin wouldn't be possible 100% due to the lack of regulation which will give confidence to the investors to use the stable coin with knowing the backup policy. Constantly studying the financial markets will helpt to understand the market patterns but this type of analysis is not yet usable in young crypto markets.

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December 08, 2019, 09:07:46 PM
 #22

You will definitely find a lot of coins professed to be backed by so many assets, which mainly could be digital, but I still prefer those backed by real physical assets. Gold is a real asset and there are some backed by real estates. Backing a coin by an already established coin, might sometimes not be substantial enough, because anything can happen along the line.
Show me at least one project that has a coin backed by gold? Even if there is information about it on the project website, it does not mean that it is.

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December 12, 2019, 02:26:39 AM
 #23

Are there any coins that are backed by multiple assets?

Some are afraid of bitcoin's high volatility, others are not happy about
stable-coins' low volatility, are there any coins "in the middle" that are
backed by a basket of assets?


For example, is there a coin backed by Fiat (say USD), Bitcoin and Gold?

What would be the effects of having a crypto "in this format" ?
It seems that you want some kind of hybrid coin, but the question is why do you want something they that? As far as I know that doesn't exist, but it defeats the whole purpose of having a decentralized currency, now you're going to have to rely on a centralized institution to have as much fiat, bitcoin and gold in hand to back all the coins that they create.

And while this may seem like a good idea I disagree because we have seen in the past many coins that were supposedly backed by gold and all of them failed.
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December 15, 2019, 02:01:24 PM
 #24

You will definitely find a lot of coins professed to be backed by so many assets, which mainly could be digital, but I still prefer those backed by real physical assets. Gold is a real asset and there are some backed by real estates. Backing a coin by an already established coin, might sometimes not be substantial enough, because anything can happen along the line.
Show me at least one project that has a coin backed by gold? Even if there is information about it on the project website, it does not mean that it is.

Tell me about the process of investigating how a coin is backed by gold and I would do it. See? The problem is that we don't get enough transparency
for so "backed" coins. However I don't think backed coins are bad, fake backed coins however they are! (unless they are constantly fake backed so it looks like they are realistically backed)
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December 15, 2019, 02:49:02 PM
 #25

I am not a Libra fan boy but you can read it's whitepaper where it stated that

"Libra will be fully backed by a reserve of real assets — the Libra Reserve — and supported by a competitive network of exchanges buying and selling Libra."

So, in a way, Libra coin is actually backed by multiple assets as they say.

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December 15, 2019, 03:10:43 PM
 #26

I rather buy a cryptocurrency that is backed by real business than by another asset, especially american dollar. USD is not backed by anything, so how can you secure that the token will be stable? But if you create real business, that is perspective, then it generates the profit and then you have investors that are interested in buying this coin.  Cool

Yeah, i totally agree with this, what is the point of backing with different digital currency when they will still affect price either ways, i would have a crypto that is backed with real business that will in turn bring value to the coin overtime, this way the coin can have a healthy growth as long as the business is functioning and there is demand for the coin then price will increase gradually.
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December 15, 2019, 04:16:07 PM
 #27

not too much affected i think , since its backed by real assets .
btw , i didn't think altcoins like that have a huge interest from crypto people, its no more than safety way when bear wake up .
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December 15, 2019, 04:22:41 PM
 #28

not too much affected i think , since its backed by real assets .
btw , i didn't think altcoins like that have a huge interest from crypto people, its no more than safety way when bear wake up .
but real assets can help them grow, but basically I'm also more interested in altcoin with a platform that can solve problems than altcoin with the help of real assets. the reason is because I prefer to see technological developments
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December 15, 2019, 04:28:31 PM
 #29

1.coin supported by many assets would be BITCOIN because of the very high level of competition and until now no one can bring it down

2.Medium coins are not necessarily supported by many assets because professional investors will see their potential in great detail and its potential for the long term

3.coins supported by USD, BTC and GOLD are certainly there but for GOLD that I know of is very rare to find really successful

4.having crypto is certainly high risk but with high potential too, so be smart "you choose the right nest

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December 15, 2019, 04:39:52 PM
 #30

many but difficult to know the truth, would you immediately believe it if they write it on whitepaper? the effect of "backed" is only to attract the interest of the community, imo

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December 15, 2019, 05:06:29 PM
 #31

many but difficult to know the truth, would you immediately believe it if they write it on whitepaper?
Absolutely, everyone could say that their coin is fully backed by an existing asset/multiple asset. Even the tether, some are still in doubt by its backing asset since the founder hasn't bringing proofs only to prove that it is backed so it is reasonable to pegged in a dollar. There's no way people would believe on letter sent to a bank, that can be easily made by almost any one. But the thing is tether is still popularly used for hiding their asset in market's volatility.


the effect of "backed" is only to attract the interest of the community, imo
Yeah some are using it as a trick and build a foundation of confident investors.




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December 16, 2019, 03:23:06 PM
 #32

not too much affected i think , since its backed by real assets .
btw , i didn't think altcoins like that have a huge interest from crypto people, its no more than safety way when bear wake up .
but real assets can help them grow, but basically I'm also more interested in altcoin with a platform that can solve problems than altcoin with the help of real assets. the reason is because I prefer to see technological developments

i wonder if that the reason why people buying it,better just buy the real asset directly , rather than buying coin backed by real assest , i am sure more profit and lower risk than buying the coins .
for me the only worth coins backed by real assest is just USDT so far .
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