Gold backed coins are real??

[xiboothrezi]

Of the several projects that claim to be backed by gold, only Digital Gold has really provided real evidence and exists to date. I can't yet confirm whether PGpay is legit or not, I haven't studied it further, especially at this time there are a lot of realities that don't match expectations. Must be really seen in the field when it officially entered the market, a strong project, which he said based on the price of gold would require commitment and a good strategy from the developer to keep the price in the real gold price range. And it's quite difficult if done by shitprojects with low budgets. It's better to be careful, everything can end up drama in this saturated market.

[robelneo]

If a project that is backed by gold there should be independent auditing by a reputable auditor, they can show a video or certificate but if they are not coming from independent, auditor we can consider it useless, so far there are only a few stable coins backed by gold that are doing good in the market, and any new coin coming without transparency will not gain support.

[Mike Mayor]

Gold backed fiat isn't even real so no I don't believe this. It doesn't actually need to be backed by actual gold since no one ever sees that. The gold is just there to backup the value but it is never used or touched. People don't exchange their cash for gold, nor do they need to. It's just a system of debt basically that is never-ending. That's actually how the economy works. It sounds very confusing because it is.

A better way to do this would be to have a gold jeweller and have the coins backed by the jeweller itself rather than the gold. So then you could go in and look at the gold since you own some of it depending on how many coins you own or you can buy some directly to take home it depends on the business model. I would like to think it works as shares do. Then your coins are not backed just by gold but by a company that specializes in gold and sells it at upmarket prices.

[CjMapope]

what do you guys have to say about new projects that are backed by real gold? do you know any project that is legit and backed by real life Gold and not scam? any one have information about PGpay project?

gpay.  most likely a scam, and i dont even have to LOOK at it.  thats how low IQ this idea is lol
we have seen it many many times before, they are all scams, and even the ones that actually take some ICO money and buy gold to act legit, are garbage
we have BTC why the fuck would we need a gold backed crypto.  dumb as fuk the whole idea.  sure worked well on newbs i guess tho, those scammers made millions

[Pearls Before Swine]

I don't know if there are coins, backed by gold before Xaurum.

If that was in 2017, I doubt it although I think I remember the concept of a gold backed crypto being discussed before that.

Anyway, I would be *very* careful about a project that purports to make a crypto asset that is backed by physical gold.  The basic problem is one of auditing the gold held by whoever is running the project.  That same problem has cropped up in other digital representations of gold, because those have existed before bitcoin came out.  I think there was something called Egold that sold shares, and there were a few others if I'm correct.

The other issue is that crypto doesn't need to be backed by anything.  Even fiat doesn't, so what would be the advantage of having a cryptocurrency pegged to some gold holdings?  I don't see the value in that.

[tenakha]

what do you guys have to say about new projects that are backed by real gold? any one have information about PGpay project?

I have looked at the project and the team a little bit, obviously I did not encounter any problem, but not as solid as it should be. So to survive in today's market, you need to be better than the old ones, but I did not come across anything that could keep project solid.

do you know any project that is legit and backed by real life Gold and not scam?

If you are looking for a reliable gold backed project, check this out: https://www.paxos.com/paxgold/

[huu78]

I don't know what the PGpay project is, which I know is no support for a real genuine product for digital. Like GOLD stablecoin They are just a digital currency and I think there is no support from real life.

[Febo]

what do you guys have to say about new projects that are backed by real gold? do you know any project that is legit and backed by real life Gold and not scam? any one have information about PGpay project?

I think XAURUM was first. They launched around 2015. They should have gold but. Why trust third party with your gold?  What is the point? You just rick when you will want your gold they will say fuck you and not deliver. Why risk if you dont need? You just go to gold store and buy some gold and that is it. Or some gold website. Most take Bitcoin and give you even discount when use Bitcoin.  Buying any real world backed cryptocurrencies is super dumb. Blockchain is to secure digital asset and not real world.

[terizla]

I only know Digital Gold. The good project backed by real gold. 1 Gold token = 1 grams of fine gold.
This project is good and in November, total trading volume of Gold is exceeds 50 million USD.

[Henrytrust]

what do you guys have to say about new projects that are backed by real gold? do you know any project that is legit and backed by real life Gold and not scam? any one have information about PGpay project?

When I hear projects say that their tokens are backed with pure gold, I personally don't believe. Most of the projects in the past who claimed to be backed with gold went through the same fate as others who weren't backed with gold and their value dumped tremendously despite the fact that they were backed with gold.

[xZork]

There are quite a few projects claiming that their currencies are backed by fiat or gold or oil, I can list some projects like Venezuelan petro that are backed by oil (however the coin This failed because it did not win investors' confidence.)
Another extremely successful currency in the market is USDT (this currency is supported by USD).
The most recent gold-backed coin I know of is the Gold Stablecoin, the YELLOW token used to buy gold and digital storage with anonymity.
You can go to their homepage to learn more: https://gold.storage/en/home
Currently GOLD Stablecoin has a huge bonus program in place, you can participate and help them advertise the project.
https://bitcointalk.org/index.php?topic=5164058.0

[acdc]

what do you guys have to say about new projects that are backed by real gold?

Up to now, there are quite a few projects that claim to be supported with real gold. However, I myself do not put too much faith in such projects, because we have no way to verify the reliability of the news that the project offers.
Coins backed by gold look no different from other coins, they can disappear and people will lose all their money.
If we like gold or oil, why not buy a stake in those companies?
If I have a project coin, how can I exchange it for real gold?

[danherbias07]

Honestly all coins that are backed by real gold should be the most profitable coins on CMC today but all of them have no good value, the answer is not that hard to see, there is never a real gold involved here, its all lies

That is a good one. It might really be all lies.
Merit.

Most likely not, but for sure there are some projects that backed some part of their tokens with Gold. But I can hardly imagine that a fresh ICO is able to back 100 million tokens with Gold even before the token sale launch.

Yes! If they have the money to buy all that gold why the hell do they need to waste much effort into making an ICO.
If I am the businessman then I would rather not. You will just pay up for another team then bounties then listing and a lot more.
I wouldn't go that far.
Oh and also, you will be noticed by the government into why the hell you have that lots of gold. 

[memedennis]

 there is one that i know of , Digital Gold , one coin is  equivalent to 1 real physical gold. i think they are real.

[ashmodeus]

well , i hear that project recently , also i got email too about it, but I haven't done any research about the project.
but , lets have discussion , did u think that project is quite logical to become real ?
i personally says its ok , no matter,even backed by diamond.
the only problem is what a proof for it ? and that why u must do some research for it.

[nancy]

Gold backed tokens are real but useless in opinion. Its much simple and secure to buy gold/ gold eth

[rahmathidayat93]

there is one that i know of , Digital Gold , one coin is  equivalent to 1 real physical gold. i think they are real.

Friend can include references, if digital gold is real ?, Because I've also heard of digital gold but don't think that digital gold is really real, and the price is equivalent to real gold.

[BartS]

what do you guys have to say about new projects that are backed by real gold? do you know any project that is legit and backed by real life Gold and not scam? any one have information about PGpay project?

I have not heard about that particular coin but in the past there have been too many coins that claimed to be backed by gold and nothing good has ever came out of them, to me that is nothing but a way to try to deceive people.

After all even if that was true then you will be relying on the developers holding as much gold as they state and that will always be the weak point of that coin, and if it is not true then you are investing in a scam, so regardless of whether the coin is backed by gold or not you are investing in a bad coin.

[Callanta787]

I do some digging on PGpay project I think it's not that good because they just swapped from PGTS which was trading before but suddenly after few months it has no volume again, still no sign of real gold backing the project

[Xcode7]

what do you guys have to say about new projects that are backed by real gold? do you know any project that is legit and backed by real life Gold and not scam? any one have information about PGpay project?

Hopefully the coin supported by real gold is not a scamm, I just found out lately there are many issues that are spread about coins that are supported by gold, as long as I have no alignment between cryptocurrency with gold. I do not know what happens if the coin is supported by gold because there is no mutualism between the two factors