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/biz/ - Business & Finance

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51656241 No.51656241 [Reply] [Original]

are crypto coins backed by gold in one way or another good at all? things like PAXG, HOLO, GLC? Asking because this board despite being obsessed with gold doesn't really talk about em

>> No.51656289

No becasue you don't OWN the gold so who cares

>> No.51656297

they aren't necessarily immune to the whims of the crypto market anyway so i think its more of a gimmick than anything else.

>> No.51656302
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51656302

>>51656241
We are O B S E S S E D with silver anon, not gold.

>> No.51656323

>>51656241
>>51656289
>>51656297
daily reminder that tether is mostly gold ;)

>> No.51656339
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51656339

I didn't know about holo so thank you for the call.

I've been holding paxg for a while now and it's kind of a shame to see it falling off after so much winning because of le merge (it's erc-20) it was akin to holding LTC earlier this year (constant relatively healthy uptrend with little bearish sentiment). We'll see whatt happens but I think it might be time to sell.

>> No.51656342

>>51656297
Holding physical gold is a gimmick too you stupid retard.

>> No.51656349
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51656349

Sorry anon I'm too busy holding my /biz/ approved coins and losing -10% by the minute I got no more money for my rektfolio.

>> No.51656353
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51656353

>>51656241
well, yeah, HOLO in particular beats PAXG and GLC because they have an algorithmic programming that allows the staking to switch and turn to adjust gains for profitable outcomes, which is honestly a novelty

>> No.51656355

>>51656349
fucking kek

>> No.51656359

>>51656241
>NOOO YOU HAVE TO PAY OVER SPOT LIKE I DID YOU CANT JUST GET A CRYPTO COIN WTFFF

>> No.51656367

>>51656349
>So what does this mean?
>In a nutshell, it means that you are forever delegated to consuming delicious sanctionslop for the rest of your life and you will forever be known as a filthy ruski.

>> No.51656368

>>51656353
wasn't this done before on ghosttrader?

>> No.51656370

>>51656368
actually ghostrader scammed, this is the real team behind the algorithm

>> No.51656373
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51656373

>>51656241
>>51656339
>>51656353
b-brain... hurty

>> No.51656376

>>51656367
well at least filthy ruski is a cool badass name

>> No.51656384

>>51656353
wait what, what the fuck does this even mean

>> No.51656394
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51656394

>>51656241
is having gold teeth still a profitable idea?

>> No.51656399

>>51656384
Basically the functions of holo (staking, minting, taxation, prize pool)
and the rate of all of these are variable and balance mathematically to respond to market forces (ie: lots of sells increases sell tax and reduce cost of minting)
What this means is that you won't have the typical market liquidation on a staking platform that ends on your gains lost, even if the market dumps tremendously (it won't)

>> No.51656401

>>51656394
if you can sell them

>> No.51656420

>>51656394
It is for the person who pulled them out of your dead body.