Their Whitepaper Tether Gold - A Digital Token Backed by Physical Gold (https://gold.tether.to/Tether%20Gold%20Whitepaper.pdf)
Current Market cap: $500 Millions
Coins in circulation: 7,6 gold tons
Your thoughts are welcome!
exactly, gold should not be compared with shitcoin. That's not fair. Because I lost a lot of money in the past because of shitcoins. It's safer to invest in coins that have good projects than shitcoins.
~ indeed gold is expensive and more valuable than Shitcoin.
Because I lost a lot of money in the past because of shitcoins.Is it true?
Even though I was interested in discussing XAUt because digital gold is backed up by real gold
... and now XAUt Digital Gold which is backed up by real Gold.
Hii Peter, I've read about Audit from Kinesis, it's really great and it makes sense to do business with you.Even though I was interested in discussing XAUt because digital gold is backed up by real gold
... and now XAUt Digital Gold which is backed up by real Gold.
Kinesis' stablecoins (https://www.altcoinstalks.com/index.php?topic=129595.0) are backed up by gold.
There is proof for that, the 4x/year independent audits (https://kinesis.money/wp-content/uploads/2023/12/Kinesis-Audit-October-2023.pdf).
Tether Gold, there are no audits.
How can you be sure that XAUt coins are backed up by real gold?
Kinesis' stablecoins (https://www.altcoinstalks.com/index.php?topic=129595.0) are backed up by gold.
There is proof for that, the 4x/year independent audits (https://kinesis.money/wp-content/uploads/2023/12/Kinesis-Audit-October-2023.pdf).
Tether Gold, there are no audits.
How can you be sure that XAUt coins are backed up by real gold?
But the only thing I am afraid of is, if this is really backed by the real gold or not. What if they sell the real gold after the audit? I cannot think such bad things against tether since they are the top stable coin in the market.
Hii Peter, I've read about Audit from Kinesis, it's really great and it makes sense to do business with you.
But I'm just a small person who doesn't have that much money and only analyzes all aspects of digital assets in various forums.
I just assured myself that XAUt had been audited by the Financial Agency because I was referring to the condition of the USDT stable coin which had been audited by various Financial Agencies.
USDT is audited (by a private company specialised in auditing: BDO).I have checked to check that the audit for Tether USDT really uses BDO and CCR services. (https://tether.to/en/tether-releases-independent-auditor-report-from-top-5-accounting-firm-bdo-reinforcing-its-dedication-to-transparency-and-revealing-another-major- cut-to-commercial-paper-holdings/)
XAUt is not audited.
This is their website https://gold.tether.to
This is their Whitepaper https://gold.tether.to/Tether%20Gold%20Whitepaper.pdf
No audits
So LB, let me understand... on one side you don't trust a company (Kinesis) that let their assets be audited every 3 months because they could sell the metal after the audit... but on the other side you do trust another company (Tether Gold) that never let their assets be audited ... because they are... big? :)
Buying digital gold online means, I bought the gold and they will hold it for me. What I am holding right now? A wallet with some digital numbers. Isn't it better to have some physical gold than having it digitally?This is a very good statement and made me think because this concerns our assets and this is a discussion of the topic that I want, an open and more transparent discussion that can be seen by ourselves.
Buying digital gold online means, I bought the gold and they will hold it for me. What I am holding right now? A wallet with some digital numbers. Isn't it better to have some physical gold than having it digitally?This is a very good statement and made me think because this concerns our assets and this is a discussion of the topic that I want, an open and more transparent discussion that can be seen by ourselves.
I definitely prefer real gold and store it in a Local Bank to be able to use it or just to save it, so that one day it can be taken out more easily when the price goes up, it's very different from digital gold which I can't even see its physical form.
I'm still interested in discussing the differences between XAUt from Tether and KAU from Kinesis, can you explain in general the differences between these two digital assets??
This is a very good statement and made me think because this concerns our assets and this is a discussion of the topic that I want, an open and more transparent discussion that can be seen by ourselves.Yes, of course, real gold is better than digital gold, but in the age of technology you need both. You can keep real gold in a safe place to preserve the value of your money, while you can keep digital gold in your wallet to conduct financial transactions and transfers across borders with ease, while you cannot do that with Real gold.
I definitely prefer real gold and store it in a Local Bank to be able to use it or just to save it, so that one day it can be taken out more easily when the price goes up, it's very different from digital gold which I can't even see its physical form.
There is a very big comparison between real gold and digital gold because I will definitely choose real gold
But, I didn't know that Kinesis gets audited every three months. Is it true? I didn't know that.
Isn't it better to have some physical gold than having it digitally?
-Understanding from you is so much and complex, I have to read it in detail and continue to check every link you give and almost 1 hour I read it.
No matter which company it is. It could be Tether as well. We can't check if they have the physical gold or not.
Let's say they have sold them all and I live in a different country. I won't be able to catch the company and won't be able to claim my gold. In comparison, If I kept in a bank in my city, I would always be able to take my gold.
XAUt tries to have its price linked to gold, but there is no guarantee that when you buy, there is real gold deposited in the bank vaults. The main trading volumes of bitfinex and the main trading pair are USDT, and trading volumes on all platforms are low compared to stablecoins such as USDT, USDC.I totally agree with you , it doesn't seem very true , but I will point out that it is possible and we don't believe in it because no one has done it yet , let's see how this token will develop and where they get support from and how they provide the price with real gold .
It is very dangerous compared to buying gold, and its price is close to gold, but it is definitely not linked to gold.
but there is no guarantee that when you buy, there is real gold deposited in the bank vaults.
its price is close to gold, but it is definitely not linked to gold.
Hi Peter, you haven't answered my question regarding KYC, okay I'll repeat it :-Then in the final paragraph there is the word "KYC", oh my god?
So, this Kinesis application requires KYC for trading KAU and KAG?
Hi Peter, you haven't answered my question regarding KYC, okay I'll repeat it :
-Then in the final paragraph there is the word "KYC", oh my god?
-So, this Kinesis application requires KYC for trading KAU and KAG?
The problem is with KYC and everyone doesn't want their privacy to be disturbed.
Never mind out there, on the altcoinstalks forum there are also many people who don't want to and don't agree with KYC issues.
It seems like KAU and KAG trading will feel hampered if every member who wants to trade has to use KYC. This is only my experience with forum and cryptocurrency space. :D
Hi Peter, you haven't answered my question regarding KYC, okay I'll repeat it :
-Then in the final paragraph there is the word "KYC", oh my god?
-So, this Kinesis application requires KYC for trading KAU and KAG?
The problem is with KYC and everyone doesn't want their privacy to be disturbed.
This is cool though but I hope the company behind this doesn't rugged because the gold bars are just 611 gold which is little compare to the total market of gold in existence.
Current XAut price is $ 2,032, it will increase and touch ATH
XAut ever reach $ 2,111. I think It will touch soon.
Yep, you think that's right.Hi Peter, you haven't answered my question regarding KYC, okay I'll repeat it :Hi Iyem,
-Then in the final paragraph there is the word "KYC", oh my god?
-So, this Kinesis application requires KYC for trading KAU and KAG?
The problem is with KYC and everyone doesn't want their privacy to be disturbed.
everyone among who?
I'm pretty sure you mean the crypto community.
One major problem when crypto people discuss about benefits of cryptos for society or economy is that they look at things from the point of view of crypto traders and not of ordinary people.If we refer to ordinary people, of course this opportunity takes precedence over anonymity because ordinary people like me are not hypocrites to look for profit opportunities in every place.
In my view, gold-backed stablecoins exist in order to serve ordinary people, not crypto traders.
So I ask you now, considered the benefits of gold-backed stablecoins I listed above, what do you think will ordinary people choose between opportunity and anonymity?
That means, the KAU and KAG markets are completely targeted at ordinary people, right?
Hi Peter, you haven't answered my question regarding KYC, okay I'll repeat it :
-Then in the final paragraph there is the word "KYC", oh my god?
-So, this Kinesis application requires KYC for trading KAU and KAG?
The problem is with KYC and everyone doesn't want their privacy to be disturbed.
Never mind out there, on the altcoinstalks forum there are also many people who don't want to and don't agree with KYC issues.
It seems like KAU and KAG trading will feel hampered if every member who wants to trade has to use KYC. This is only my experience with forum and cryptocurrency space. :D