Quote from: wxa7115 on November 27, 2019, 09:05:02 PM

Quote from: Wysi on November 05, 2019, 08:31:02 AM

We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.

We have seen several coins like that in the past and all of them have failed the only ones that are still around are stable coins that are backed by fiat and we have no assurance that those coins are going to remain in place for long.

All of the coins that are backed by something have the very same problem that bitcoin was trying to solve, you need to rely on a centralized institution to not lie to you and to anyone else and to only create as much currency as assets they have in store and we know that this never ends well, if even the government some of the most powerful institutions around the world are unable to resist the temptation to create as many currency as they want it doesn't seem unbelievable that a smaller private institution is going to do the same.

Best investment when backed your assets with bitcoin and altcoin because could increase price become higher, when you use your money only saving with bank maybe safety is first thing with your money but believe or not your money will increase less value because every year your money have inflation price but not if you save and backed your money with bitcoin and altcoin.