Gold backed coins are real??

[Dart18]

1 million worth in USD of all gold.
What do you think you should do with that?
Will you really risk all of your commodities with a project that could erase them all?

Logic is what should come in first.
I won't believe it. For some reason people are still asking some foolish questions and I don't know why.
It will just be a scam at the end.

[infarterr]

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

Projects that are supported by real gold will not raise funds in the long run, because they already have very valuable items, and if there are projects that are supported by gold but are not successful, then the projects are not genuine, and they are really not supported by gold.

[nicolas1979]

I think it's not true, when they sell coin, developer get income from the range at ICO release, from there they will back up product to get market. If developer play in commodities it could be right but back up with gold that's funny. Coins is new product, not stable and has no law. Why take big risk if the can play using gold?

[senin]

Am also wondering anytime i come across such project that claims they are backed with real Gold how it is possible and how can one determine this to prove it's authenticity,  i am thinking most of this project claiming to be back up with gold are not legit, take JinbiToken as an example, everything is not clear with that project.

The Jinbi Token project has not yet paid the earned tokens to the participants of the bounty ICO campaigns, although the KYC check went back in November last year. However, the price of the token is very high. While there is not even information whether they are going to pay us tokens or this team can be considered fraudulent.
Let's hope that the PGPay team will not only prove to be workable, but will fulfill all its promises to the participants of the bounty campaigns. As for the availability of gold, this can be reliably verified only when this project really works. So far, everything looks normal.

[youdacapt]

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?

answering something more real and unrelated to the project here is a rumor that DECP will become a legal coin backed by gold by 2020. If 20k tons of Chinese gold reserves can make it happen, then this will truly be revolutionary and destructive overall USD dominance. https://bitcoinist.com/china-cryptocurrency-gold-backed-says-max-keiser/

[CryptopreneurBrainboss]

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 new projects are hardly what they advertise themselves to be, majority of them are just profiting from the hype of already existing project's with similar idea like the gold backed coins. It isn't that hard to established a project backed by real gold considering you have the gold in store. so for your question on that area I would say yes, we can have real projects that aren't scam based on the backed by gold ideology.

Came across this project [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold some few months ago when I promoted them through signature campaign, it looks legit although this is a stable coin and not the typical cryptocurrency that gives profits. This can be used as example of gold backed coins.

[bitcampaign]

there are many crypto projects out there with real gold support, but I'm not sure to get that gold, if I want to exchange it from tokens to gold, I haven't seen any threads that say they succeeded in converting their crypto tokens to real gold, it seems rarely once or even nothing, just a fake endorsement, I worry about projects like this and sometimes stay away

[naikturun]

I don't know if the PGPay project is backed up by gold, but what I see is that they guarantee bounty hunters using Eth's fees or sell their stake, to be sure to visit their exchange site or ask in their telegram group.

[Malam90]

I don't know whether PGPAY, Jinbi are backed by real gold. I don't trust 100% that any crypto is backed by physical gold. We should think it as a crypto not more than, if you think so, you can purchase real gold not any crypto in this context.

[mrdeposit]

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?

In this list, you can check out the legit gold backed coins: https://coinrevolution.com/only-two-gold-backed-cryptocurrencies-are-relevant/
I have never been heard about pgpay. I just looked at the scam accusation section about having scam and found no results. Since the project is new, we will be able to give an idea in accordance with future developments.

[Ahimoth]

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 I know about this project was one of the group whose in promotion for cryptocurrency adoption. They're aiming for opportunity provision to every individuals, and I can't be confident that it would be really backed by real gold unless there's a substantial demands to prove it in the long run.

Here's some link here: https://medium.com/@shivakoothapadevar/pgpay-is-an-excellent-opportunity-to-learn-more-about-the-possibilities-of-the-project-835ae5560d14

[bitkanu]

I don't know if the PGPay project is backed up by gold, but what I see is that they guarantee bounty hunters using Eth's fees or sell their stake, to be sure to visit their exchange site or ask in their telegram group.

It's better for you to understand more about how tokpay works today. You has already made a non logic connection between gold as a commodity that backed the value of token with sell the stake use ethereum. Tokpay is a marketservice that makes you able to sell your stake from the bounty campaign into the ethereum. Please read more before try to comment about that.

[timmmers]

There is one big problem, you have to trust the entity that they will really store the gold. It is something like gold vouchers, but built on the blockchain. It is easy to send it around the world, but you never know where the gold physically is. And it is very difficult to create similiar solution that is decentralized - probably impossible right? 

[minersday]

There are a few ones like DGX which i know are backed by pure 99.99% gold that are safely stored in secured vaults. However there are numerous of them out there that are scam and have not even been successful. Take a look at VEIAG etc. If you are looking for a real gold backed coin then i would advise you go for DGX.

[RussiaUkraineTranslation]

Paxos gold stablecoin exists

[Bitcoin_Arena]

I think Xaurum started this trend three years ago https://coinmarketcap.com/currencies/xaurum/  I remember participating on their signature campaign and this is one of my best campaign back 2017 where bounty campaign was so much different from the bounty campaign today, I don't know if there are coins, backed by gold before Xaurum.

I picked up interest in Xaurum since a couple of members stated that is one of the best gold backed coin. If it was backed by gold, the why has it's price plummeted in an abnormal way compared to gold.

Isn't a gold backed coin's price supposed to be synonymous with that of gold?

Currently the 24 hour volume is just about 15K USD

Xaurum price chat


Gold price chart

[Bitbtc8]

Crypto Gold coins would have take upper hands over other coins today if they are really genuine, it would have been a haven for investors because there will be trust and guarantee since they are backed by real gold but its all not so true

[Lagduf]

Am also wondering anytime i come across such project that claims they are backed with real Gold how it is possible and how can one determine this to prove it's authenticity,  i am thinking most of this project claiming to be back up with gold are not legit, take JinbiToken as an example, everything is not clear with that project.

The Jinbi Token project has not yet paid the earned tokens to the participants of the bounty ICO campaigns, although the KYC check went back in November last year. However, the price of the token is very high. While there is not even information whether they are going to pay us tokens or this team can be considered fraudulent.
Let's hope that the PGPay team will not only prove to be workable, but will fulfill all its promises to the participants of the bounty campaigns. As for the availability of gold, this can be reliably verified only when this project really works. So far, everything looks normal.

There are also a few projects that already worked on the gold-backed crypto too. Jinbi was a scam since the team was doing so many shady things not only to the hunters but to all of the parties who have already participated on jinbi. No transparency and i believe jinbi is totally a fake project that failed to be manipulated by scammer. There is a possibility for KYC documents that have already send to be sold in the black market.
The teal question about crypto backed by gold should be where is the gold and how much? until there will be no transparency and proof about the reserved gold and the token that backed by the gold just a scam. 

[starblocks]

There are some projects that are purportedly backed by gold but you might be better off investing in Bitcoin which is considered "digital gold" and is definitely not a scam, and you can hedge using stablecoins or assets backed by other collateral such as this

[omone1]

Digital Gold is backed by gold, and Populous is releasing another coin that is backed by gold. PGpay claimed to be backed by gold, am campaigning for them while I keep tracks with their events as it progresses.