You. Are. Brilliant
I'm assuming the gold contracts and the speed at which they are fulfilled have something to do with the circulating supply and the issued coins , duh ...... that's why I say its the same ... are you going to buy some coin today atb7 cents and exchange it for gold at 1to1$ tomorrow ? No youre not and i dont see anybody but you asking that question.... And if everything is legit in this project it will be at 1$ before you can get any this cheap ... this is where I see the opportunity. There is a relatively small circulating supply at the moment and a lot of questions " yours not included" that are keeping the price down . Once they are answerd they price will either go to 0 or around 1$ ... while some are here to do some DD others it seems are just wanting to put a question mark on everything... that would be you .... like I said , I see it as a good sign actually so keep going
"I'm assuming the gold contracts and the speed at which they are fulfilled have something to do with the circulating supply and the issued coins , duh ...... that's why I say its the same ... " - I call BS. I repeat: Future contracts are not the same as gold bullion. You need not make assumptions. That is a fact. I keep stating the obvious (but it seems I have to). Reason I insist on pointing this out is because gold mining companies have been known to lie (fraudulently) about gold deposits they "discover" and selling a bill of goods (specifically in future contracts & ETFs) to unsuspecting investors (Google Bre-x if you need an example). Guess what happens to investors in such cases? They lose a ton of their $$. And this just one example on how things could go wrong (in general any contract can end up voided - that's just a fact of business). Another example: If cryptobontix are depending on crypto mining to get money for buying these future contracts - what if for some reason their crypto mining doesn't take off as planned? Or slows down? Then what?
If DIG is backed by futures instead of gold bullion (even temporarily), it is perfectly OK BUT then it is good that it is made clear that's what is happening instead of shouting "gold bullion" all over the place and calling anyone who asks for clarification a "tard" or "idiot". Being backed by future contracts (even initially) doesn't make DIG a bad coin - it just lets people decide better how much to risk.
A gold backed DIG in my opinion means this: I should, be able to exchange my DIG - at any given time - with x grams of gold (predetermined) OR an equivalent amount in fiat currency - at current gold market prices - for x grams of gold. Now that would be the real power of a gold backed crypto.
In short - I would buy DIG at 1$ if it truly is backed by real gold bullion under lock and key AND openly audited by any of the big 4 firms, because it will be the most non-volatile way to store my crypto. - The buying low and selling high (day/week trading) is a secondary issue.