Don't get robbed by something you don't fully understand

[jahepahit]

Depending on the way you look at it, but this is the real truth. it's just a way to give equivalent value of gold to a token by assumption. If you can believe in it. You can buy into it. If not just leave it out.

[shollyen]

What if it is well proven and there re evidences that July, it is backed by really gold, i think there is nothing wrong in believing that. Although, most of them lie about their claims and just very few or maybe one at the moment is able to truly prove that.
A project that is a able to prove that for ore than a year and is still steady, i think should be commended alongside a legit audit done by a legit company.

[chikading2016]

If it is all about money many people are greedy and scam others just to gain funds. That is why before we go investing we need to search first and find any supporting documents that the company, project, etc., are legit because if we invested without understanding we maybe get robbed or loss everything. So if the thing is include money we need to be more careful so that we can avoid unnecessary losses.

[SlimShadyMmp]

Many People have learnt from the past I mean there are real ICOs that looks really promising that concern cryptocurrencies, later turns out to be either shit or pure scam So I think bringing Gold is not even a good investment but still if there will be, then you have to make sure is fully back and the Company is a registered one with money back guarantee any time if not dont waste time believing inspirational whitepaper

[Yamifoud]

People's interest and trust in gold are the ideas of scammers to launch their new actions. In this case, anyone can be cheated, especially for those who want a real and tantalizing profit. Here, we are not in the basics. basically, we really have to be wary of projects in crypto. Therefore we are advised not to be covered to receive a sizable profit. However, this must also consider the status and also must be thoroughly analyzed related to the truth.

And they took that advantage knowing that people will show huge interest when seeing backup by GOLD. How pity is this. Scammers will do smart things that we thought it is legit that is why they still have a lot of victims even we have all the awareness. Its something to know that they become more aggressive as the market demand and adoption tend to grow. And those investors who would are greedy and like an instant rich, this could be for them...lol

The market seems too tricky at this time, that is why we should be more vigilant. We can't deny that scammers are smart that even how much we would like to stop them but still, they will find a way unnoticed.

[Shallow]

You have highlighted the whole truth. I have heard a lot and seen a lot of gold tokens which were claimed to be backed by real gold but none is still standing till today. Some exited scam right from their token offering and many are still coming up with same idea, thus scamming those who aren't informed. Just like you said, gold is gold and it is very valued which is why the gold companies have little or no interest in all the gold tokens being created here because there is a very big difference between them. Lastly, most people will continue getting robbed until they understand that all these gold tokens are just out to scam them and nothing more.

[vermigerous]

That's why we need to carefully read and understand the project what we are up into. Because there are a lot of projects that is mentioning skme of their back ups yet it's not true, just to add up colors to their projects. So we must be aware on this kind of project

[jcpone]

If there are some people here in cryptocurrency got scam that is because some of them are greedy.
Now, if for you that having no knowledge about here is equivalent of being rob, well in that case it is obviously
your opinion or speculation only. But honestly, you have a point in that matter some of it are correct and true and
some are not.

[maxreish]

"Lure". That's the right term for it. Since gold has a good name and reputation, they come to a point that bragging the name of gold in their project will make them gain the trust of investors. In fact, some may believe that it is really associated with the real gold. It somehow misleading and to think it will ended up just like the other coins that it may be the hype at first but quite not successful at the end. Whatever they'll put gold at thr coin's name, what's important is the potential of that coin in this crypto market.

[Jancuki]

If I had to choose, I would prioritize investing in real gold, because in my opinion, the risk is high if we exchange it for a token that is said to have been made by real gold. Nobody knows in the future.

[michellee]

I think it is better to invest in real gold than to invest in the gold project because if you invest in gold, you can have the physical material of gold, and you can hold that gold for a long time. If you invest in the gold project without your research about the project, you will have a chance to get a scam if you can not select the right project. The problem is sometimes we are difficult to find that project because almost all project has similarity between the other. So you need to be careful and research first before you invest.

[LazerPanther]

I have seen such projects in the past few years, but they don't last for too long. After a period of operation, those projects have collapsed or become scams in this market. If you want to invest in gold, it is best to invest in real gold

[Genemind]

I've seen some projects who are backed by gold or gold mining companies. I have heard any of it being successful. If it's gold you want, then invest in gold directly.  People are getting interested in this kind of project because of the word Gold. That is why this kind of project scheme doesn't get old.

[havoc928]

I think it is better to invest in real gold than to invest in the gold project because if you invest in gold, you can have the physical material of gold, and you can hold that gold for a long time. If you invest in the gold project without your research about the project, you will have a chance to get a scam if you can not select the right project. The problem is sometimes we are difficult to find that project because almost all project has similarity between the other. So you need to be careful and research first before you invest.

True! I don't understand why people choose to invest in gold-backed projects instead of real gold. I guess maybe they think gold has the strong potential to pump and so are the gold-backed projects, and they want to be successful in this cryptocurrency market. However, it's not safe to do so without doing a lot of researches. I strongly recommend everyone to look carefully into those projects before investing for your own benefits.

[Blue_oxen]

I have seen such projects in the past few years, but they don't last for too long. After a period of operation, those projects have collapsed or become scams in this market. If you want to invest in gold, it is best to invest in real gold

The same thing I have seen also! Those projects like this attracts people by using tangible assets such as gold, silver, etc. However, it can't have enough ability to grow strongly in this cryptocurrency world. In my opinion, gold-backed or fiat-backed projects only can play as a medium of exchange or store-of-value in this market (aka stable coins). They can't have too much grow because they're directly related to the changes of the real assets that back them.

[ancafe]

as long as the token has a price and exchange, I think we can think that the assets we have can easily be exchanged for gold. however, if you doubt that, you can exchange it for fiat, and buy it gold. Well, for direct exchange, I have not found such a project, only if it has a price, I think it can really be done.

[FireBallex]

Gold token is a neat scam, everyone who haven't had a bad experience about them will surely fall for the use case, I did and so are many too but now I've finally understand that gold tokens aren't backed by any thing, it's all based on empty words

[lienfaye]

Thats why dont trust easily when someone says their project is backed by gold. Its very easy to fool people who dont have enough knowledge or easily convince because of greed to earn instantly.

Learn from the past mistakes of getting scam and always verify the legitimacy of the project before believing their statement. Be wise because its your hard earned money that you will put at risk.

[Balladtony77]

Once bitten is twice shy, this use case is very easy to use against investors and lure them to invest money but it thus happened to me once and after I witnessed what happened to the project and every other projects backed by real gold I make up my mind never to invest in such use case again

[Crypto_lion]

The problem doesn't like in the fact that etc 20 tokens cannot be backed by real gold. We have sent gold ETF funds selling  but the problem is whether you believe if the team members are really buying physical gold .