Post
Topic
Board Tokens (Altcoins)
Re: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold
by
hulla
on 24/02/2020, 07:57:54 UTC
I just have a small question... Since Gold token is 100% backed by physical gold which is stored in the vault; that is 9,200 token representing 9,195 grams of physical gold.

What happens when someone or a group of people decide to buy more than 9,200 Gold tokens. Let say someone has over $1M worth of BTC and decides to buy Gold tokens worth that from your market?
The answer is simple because this project team will just accumulate more grams of gold which will be maybe ~ $1M to increase their issues token. Let me do the breakdown for you to understand, this project started from 7,200 grams of physical gold and was said to be equals 7200 GOLD tokens then but have now increased 9,195 grams of physical gold ~ 9,200 tokens.