It's a shame that the scam token is listed on a reputable exchange like Kucoin:
https://www.kucoin.com/trade/GGC-BTCThey even never bothered checking out if the audit report was legit
I'm not sure how hard these exchanges dig into the legitimacy of a coin or token they're listing. One would hope that an exchange like Kucoin that has a decent reputation wouldn't list this piece of dung, but maybe they just haven't had it brought to their attention yet.
They Claim 1 GGC = 1 Gram of gold
Right now 1 gram of gold is $62.72 which is 0.0053 BTC at the Moment
GoldGram Coin is trading at 1GGC at $22 which is 0.00187 BTC at the moment in Kucoin and the price is still dropping each day while gold has been doing well the past few weeks... So much for a gold backed stable coin ¯\_(ツ)_/¯
Yeah, and I'm pretty sure any project like this that tries to create a coin backed by metals or whatever will fail, especially if the coin creators have to keep a reserve of the metal in question. There have been schemes like that in the past, and not surprisingly they tend to not have as much gold/silver as they're supposed to have in their vaults. Not to mention that there's no real need or even demand for such a coin. If you want to buy gold, you can buy it physically. If that's not your thing, you can buy a gold ETF or stocks in mining corporations. I'd stay far away from any gold-backed crypto.
