CristianOff (OP)
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December 03, 2019, 09:19:11 PM |
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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" ?
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Jet Cash
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https://JetCash.com
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December 04, 2019, 06:38:24 AM |
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You need to read the small print for these types of cryptos. Hypothecation seems to be the main process for giving an apparent backing for a crypto, and there is often the possibility to introduce fractional reserves. Fiat currencies have no intrinsic value, and are inflationary, so if they are used to "back" a crypro, then its value is more or less guaranteed to reduce in real value.
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Offgrid campers allow you to enjoy life and preserve your health and wealth. Save old Cars - my project to save old cars from scrapage schemes, and to reduce the sale of new cars. My new Bitcoin transfer address is - bc1q9gtz8e40en6glgxwk4eujuau2fk5wxrprs6fys |
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anu1908
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December 04, 2019, 11:28:49 AM |
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might as well by crypto index. those who moans about asset backed coins seems to not understand why the coins exist in the first place
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DayTrader27
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December 04, 2019, 11:31:49 AM |
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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" ?
No. That wouldn't be legal. Use Tether, Paxos or TrueUSD. |
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seleme
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Duelbits.com
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December 04, 2019, 06:21:46 PM |
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I doubt the backed by multiple digital assets will be a 100% true or legal. Some projects have the whitepaper which looks too good to be true. AFAIK, the USDCas a stable coin is backed by USD but their documentation and paperwork are more trustworthy than Tether. Btw, Aurum is also backed with gram gold, many projects have the same backup process. The majority of gold-backed projects have the origin from Switzerland and Russia, from my understating.
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semobo
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December 04, 2019, 06:43:12 PM |
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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" ?
Backed up coins are big lie there is actually no backup these are just pretend to be so don't compare the decentralized coins with backed up shit coins. |
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Leonardo7
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December 04, 2019, 07:15:18 PM |
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There are some projects that claim to be backed by gold, we can't conclude them so until they are made to test the wave of the market. Platincoin claims to backed by many things it will fail.
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CristianOff (OP)
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December 04, 2019, 08:23:07 PM |
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To everyone saying it would be illegal, can you expand on it? In what way would that be illegal? If there are coins that are single backed by
gold, dollar, then how would being backed by multiple assets become illegal?
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bigcash2011
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December 04, 2019, 08:32:00 PM |
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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.
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tabas
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December 04, 2019, 09:43:03 PM |
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The popular stablecoins are said to be backed by fiat.
USDC
GUSD
Tether was also reported to be making a stable coin for Chinese currency which is the Chinese Yuan.
For the altcoin backed up by gold, I've seen those projects before but most of them didn't find success. I don't know why.
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sorrros
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ludenaprotocol.io
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December 04, 2019, 09:44:40 PM |
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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.  |
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Bonwin
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December 04, 2019, 09:48:23 PM |
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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.
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tenakha
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December 04, 2019, 09:59:06 PM |
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Are there any coins that are backed by multiple assets?
I have never heard anything about this kind of coin. Also looked at google but I did not get results. What would be the effects of having a crypto "in this format" ?
IMO this is not an idea that will give superiority in any matter. Each asset has its own value and volatility, I do not even know whether it is possible to use them all to back up a coin. Who wants to create in any stability chooses the appropriate asset and uses it. |
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CristianOff (OP)
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December 08, 2019, 04:28:43 PM |
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Thanks everyone for answering. 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.
I am not worried about this, I just shared what other people are worried. Come do financial trading on commodities and I am sure you won't like volatility anymore  Bitcoin is fine |
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Mammothcoin
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KoinPro
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December 08, 2019, 04:42:59 PM |
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If a coin is backed by multiple assets, what will the valuation system/structure be since each underlying asset will have a particular value. Say for instance a coin backed by a stablecoin like USDT or fiat, in addition to gold and bitcoin which you mentioned, what will the percentage weight of each backing asset be in terms of its influence on the price of the coin?
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crwth
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Try Gunbot for a month go to -> https://gunbot.ph
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December 08, 2019, 04:51:25 PM |
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I'm pretty sure that there are coins that have backing with fiat currencies or any that is of value, but we can't verify if they're real dollars or there's an actual backing with it. You could easily create a website, a fake team, fake everything, and say that you are backed with "multiple" assets. You still can't verify it.
Can you blame the people who are not into stable coins? The opportunity to profit is big in BTC-USD pairs, but others, it would just follow the trend of BTC.
Multiple backed assets won't be any help with regards to affecting crypto because it wouldn't increase or decrease the price. It's an assurance that there is value in that particular asset, in this case, in Bitcoin. Even if you have multiple assets, it's still going to translate as one value (total value), and people should trust that to invest in it. The result would be more people would understand that cryptocurrencies are the real deal.
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Ucy
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December 08, 2019, 04:55:44 PM |
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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" ?
I think few decentralized stablecoins are backed by multiple assets... I am not sure about cryptocurrencies or tokens though. There is an erc20 token that is "backed" by Bitcoin. It's exactly thesame price as Bitcoin. I don't remember the name now. Coins backed by multiple assets should behave like the assets they are backed by, I guess. |
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Thomas-s
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December 08, 2019, 04:59:50 PM |
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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 |
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uray
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December 08, 2019, 05:07:37 PM |
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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" ?
There are many stable coins in the market right now that are backed by assets, Digix Gold Tokens (DGX) is backed by gold and TrueUSD and USD Tether are backed by fiat but you need to look for transparency before trusting any of them as i would not trust USDT because of their lack of audit for the assets backed and in the future we might see more stable coins coming up. |
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Balladtony77
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December 08, 2019, 05:13:27 PM |
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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" ?
Few projects claimed that there token is backed by real asset for example gold but they have nothing to prove with that the token is really backed by real asset, most of them are scam projects, i even heard about a fake token that used a real gold company as backed asset |
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