Gold backed coins are real??

[Bossfidelity]

I do wish we could say for sure that some cryptocurrency are backed with gold. Most of the projects that make us to believe that they are backed by gold are not for real. Its only a deceptive tactics that is channelled on giving the project a good view in the eyes of the public and potential investors.

[Aabcde]

Actually the idea is good but I don't believe in projects that are backed by gold. Because indeed we do not know the existence of the gold is true or not. If only claiming backed up gold without proof is easy to say. Projects like this must require very large funds, so I am a little doubtful if there is a dev that says the project is backed up in gold and wants to open ico or ieo. If so, it means they really do not have sufficient funds before and only want to rely on funds from tokensale.

[cytpoway121]

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 no information about PGpay project
But when it comes to gold backed project

I know about digital gold stable coin
It’s price is pegged to Gold and its Gold is stored in a vault
Very transparent stuff

Dyor about it

[FaithInCrypto]

There may be real projects available in the crypto market that is backed by gold. But there's literally no way for us to know if they are genuine or not! Even for Xaurum project, no one can tell if they are real!

I've no idea that there are projects now that they say are backed by real gold and you're right that there's no way for us to confirm that.
I remember there was a gold scam here in our country few years ago. MLM style I may say. Too bad that there were a lot of people got fooled on it even those who work from other countries (OFW) who wanted to earn more money for their family. But just like most of the scams I know that comes and goes, no one got caught and was brought to prison.

Anyway, I'll keep an eye on these projects backed with real gold as they say. It most likely turns to scam afterward so hopefully everyone thinks about 100 times more before they invest their hard-earned money.

[Kotone]

That's probably full of lies. How it can be backed by Gold, crypto is known to be a decentralized in fashion, gold is a legit physicsl entity where it can actually be sold legally. Imagine, those projects telling the project is backed by gold, how can it be sure that it is backed by gold? Can I sell these tokens to pawnshop same like gold? I dont think so, even SEC scrutinizing these kind of project which involves gold on their project idea.

[Republikcoin.com]

as far as I know, right now is digital GOLD. some people who joined the project said that it was a project that was backed up with real gold. they can also sell their coins at their local market for 1 coin for 1 gram of gold. I think if you look for crypto in backup with gold, it's worth researching. you can check the ann thread in here

[BayAreaCoins]

I wouldn't trust it.

[NathanJB]

as far as I know, right now is digital GOLD. some people who joined the project said that it was a project that was backed up with real gold. they can also sell their coins at their local market for 1 coin for 1 gram of gold. I think if you look for crypto in backup with gold, it's worth researching. you can check the ann thread in here

I hope this is really backed by real gold. There are so many projects claiming that their tokens are backed by real gold. At the end of the day, there was no gold that actually backs their tokens. Does the team of this project show in some way that there is really a one is to one ratio of their token and their gold? Because if all that they have are words and no actual undeniable proof that they have this much gold as their tokens, then it is just like the rest of other projects.

[joshua123]

as far as I know, right now is digital GOLD. some people who joined the project said that it was a project that was backed up with real gold. they can also sell their coins at their local market for 1 coin for 1 gram of gold. I think if you look for crypto in backup with gold, it's worth researching. you can check the ann thread in here

Interesting, I saw concept of this before but they are all vague and suspicious. This one got a bounty campaign, I saw most of their signature across different boards especially here in forum. But can they cope up with the community suspicion of real back up by gold? Cause it still digital, even though called gold tokens. OP is about real gold, so still same.

[TastyChillySauce00]

I'm myself honestly never trust that kind of statement unless they are somehow already accredited and their reserved gold is audited so we know that they really have the gold or their total coin supply matches with the gold they said to have because honestly even if their price right now at the market pegged to gold and in ratio with gold it's just a market and no one really know whether the company that own the stablecoin have the real gold. So yeah, just try to observe first before buying it.

[Sithara007]

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?

The problem with these sort of projects, where the coins are backed up with some other asset (USD in the case of Tether and gold in the case of Puregold PGT) is that you are not being able to store your wealth yourself. Here, someone else is holding the wealth (either as USD or as gold) for you. And this causes issues with trust, as we have seen in the case of Tether. There is hardly anything that you can do, in case the promoter suddenly vanishes one day and flees with all of your cash or gold.

[Kyraishi]

Are they real? Yes. The tokens on their blockchains are all tangible if you look at it that way.

There are a few interesting projects including Digixdao gold which I think have some potential. I remember that there was Xaurum back in the days as well although they've seemed to taper off quite a bit in their development.

In terms of legitimacy you need to question whether or not they're actually holding full reserves. That's the key, and nobody knows because most of the info is either private or the auditors aren't well known.

[Balladtony77]

Gold is a very valuable thing and if any project is backed by real gold then too many work won't be required to make the project a success, it will have a very gold value but many crypto with gold backed are not performing at all

[bitcoindusts]

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 do not think that there is  really a coins that is backed by gold in 100% ratio.  There is some that claims that they were backed by gold but if you check them,  there is only a certain percentage of the whole supply that is backed by gold and not 100% of the coin supply.  I believe that anyone saying that their coin is backed by gold is lying since we cannot declare that a certain coin is backed by gold when only a small percentage of the supply is backed.

[Apened]

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?

Well for me there is a real project backed by gold if they own gold itself or have a particular partnership in a gold company. They need something to do with the coin or token and there is some gold backed coin i only don't know if they still exists like xaurum and dgd. Not lal are scams we have to be genuinely careful about what coin or token we are investing into.

[crossabdd]

too many projects say they are backed up by real gold. but in fact it has no future and no real project. I am not sure that this is really real. they can make a perfect whitepaper and roadmap by including them in gold backups. but they don't have a real project that makes investors believe that. so I was not surprised.

[rahmathidayat93]

Gold is a very valuable thing and if any project is backed by real gold then too many work won't be required to make the project a success, it will have a very gold value but many crypto with gold backed are not performing at all

The logic is very simple, if the project is supported by real gold, then it will not be difficult to succeed, because they already have valuable capital, well, if the projects are not successful but they are supported by gold, then it is not real gold, but only writing in their concept.

[ivan1975]

There are a huge number of projects related to gold:
https://www.goldscape.net/gold-blog/gold-backed-cryptocurrency/
Many projects died, many turned out to be a scam. So I would not rely on currency backed by gold.

[libert19]

Not sure about pgpay but the one I am wearing 'digital gold' seems legit, please give attention to seems word, as I have experience in past the ones I thought legit were turned out scam later on, or just team left project hanging.

[o48o]

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?

What ever you may think about their current legitimacy, they have a weak point because they are highly centralized to the vault that they are supposedly keeping gold. All these coins can be attacked by governments and shut down at any point.