Quote from: bigcash2011 on Today at 10:43:56 PM

Quote from: Stanlo on June 30, 2020, 06:21:58 AM

I'm forced to create this topic today because it's getting annoying how some new developers are creating gold backed tokens on this forum, please listen to me, some use cases are foul play in crypto space and gold backed tokens are one of them, many so called devs are building tokens but they have no proof that those tokens are backed by any gold yet some investors believed them, it's all lies, open your eye people...

The only way I can trust a token that's backed by real gold is if the project is from a gold company, verified and certified, I'm talking about well known real gold companies like

1. Kinross Gold
2. GoldCorp
3. Agnico-eagle mines e.t.c

These are examples of real life gold companies, stand for the truth and stop promoting or patronizing unrealistic crypto projects

I think it is high time that such fiat or gold backed tokens should post the registration certificate with local SEC in there country and also the confirmatory documents that prove that the country is holding fiat or gold against each token that can be verified. If these steps are not taken scammers will keep taking advantage of the situation and will keep scamming the community.

Scammers is very smart in their ways and very quick to invade when there's a potential entry that they gained community's trust. The main problems here is that every person who's part of a certain project which is backed with so called Gold, is more eager and aggressive for their profit thinking that this is a strong asset. This is the time people doesn't care for any verification as long as they earn money for good.