Altcoins Talks - Cryptocurrency Forum
Marketplace => Marketplace & Bitcoin Services => Advertise Your Stuff => Topic started by: Kryptarion on May 14, 2020, 05:07:23 AM
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In 2018, three currencies—the Turkish Lira, the Venezuelan Bolivar, and the Argentinian Paso, lost at least half of their value; the Bolivar, in fact, lost over 99% of its value. This depreciation of the native currencies was caused by the government of each country; however, it was the ordinary people of Turkey, Argentina, and Venezuela that paid the price.
Modern-day national currencies, which are also referred to as fiat currencies, are backed by nothing and their value is driven by the economy and monetary policy of the country they belong to. Both the economy and monetary policy of a country hinge on the decisions of politicians in the ruling government. The consequences of bad monetary decisions’ taken by self centred politicians’ are often a burden on the masses. Native currencies whose value is entirely controlled by the state ensure that governments possess an incredible of power.
The depreciation of a currency proportionally depreciates the wealth of those who hold it. Therefore, in a sense, currencies are very much like assets — highly liquid assets that can be used to transfer value with ease. Though, this is an asset that is constantly depreciating, and in some cases, the depreciation is enough to cost people a vast portion of their life savings.
A currency with true value (https://an.gold/wp-content/uploads/2019/08/AN_presentation_wd.pdf/)
Before the inception to fiat currencies like USD, Pound, Naira etc, native currencies were backed by the gold held in a state’s treasury. And If a nation would print excess paper money, the value of the outstanding notes would have to be diluted. This would definitely lead to depreciation.
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Before the modern gold standard, gold itself was the major means of transferring value.
Despite the limitations of gold as a currency; it has ensured that decisions of the governor does not affect people.
Interestingly, the amount of gold held by people would not reduce in value even if the state indebted itself. Of course, in times of a state’s financial turmoil higher taxes would be placed, but this led to a positive feedback cycle where the state was able to pull itself out of debt.
A few Turkish, Argentinians and Venezuelans who were able to sell their native currencies, before the sudden hit of depreciation, were able to preserve their wealth and escape devaluation. Unfortunately, vast portion of the populations if these countries were not able to preserve their wealth as they did not have the foresight needed to predict the calamity.
But what if we can use Gold as a currency once again?
One of the greatest benefits of blockchain technology which is tokenization, has been applied to different use cases including precious metals by a number of ambitious projects. Few projects have been led by teams that have tokenized gold in an effort to make it easier to trade gold against other cryptocurrencies. However, this move is a mere sampler of what can actually be achieved with the tokenization of gold.
Preserving Wealth (https://an.gold/portfolio/what-is-the-aureus-nummus//)
ANG coin created by the Aureus Nummus give everyone, irrespective of their country, the opportunity to preserve their wealth while holding a liquid asset in gold. For the first time, gold will no longer be a chunk of possession as Aureus Nummus project creates a financial system that preserve the wealth of the people from the kind of devaluation that happened to the native currencies of Argentina, Turkey and Venezuela
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While it is difficult to acquire foreign capital in countries where the national fiat currency faces sharp depreciation, cryptocurrencies, due to their decentralized nature, make their way past any and every border. Major cryptocurrencies such as STEEM, HIVE and Dash have helped Venezuelans and Turkish people defend themselves against the depreciation of their national currency. And, to a lesser extent, even Argentinians have used this strategy.
ANG coin Cain solve the problem of fiat devaluation (https://an.gold/wp-content/uploads/2019/08/AN_presentation_wd.pdf/)
As everyone around the globe recognizes gold and the value it holds, the people threatened by a depreciating native currency can hold onto gold, an asset that is only known to appreciate in value. And while it may be difficult to acquire gold in local markets, they can purchase blockchain-backed gold currency through crypto exchanges and p2p markets. Alternately, ANG coins can directly be purchased during the IEO.
WEBSITE (https://an.gold/portfolio/what-is-the-aureus-nummus///) | WHITEPAPER (https://an.gold/wp-content/uploads/2019/08/AN_presentation_wd.pdf) | TELEGRAM (https://t.me/AureusNummus_community)
Telegram: https://t.me/@Kryptarion1
BTT: RANIE
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Gold holds the real potential for the future; the world is currently in crisis andvthecwsy forward for the people that has a huge fiat pile should also consider selling them
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Gold is a stable asset thats why it was preferred to back up something, like the fiat currencies, But our time has changed already, nowadays we trait Gold as a commodity, people can order and buy Gold anywhere so its the common thing in our era. But after the proliferation of cryptocurrencies, the introduction of GoldBacked Stablecoins has become common and popular But there's also a risk because most of the projects were not backed by Gold. Only one project I know that backed by Gold. and it was transparent enough to show that their Gold token is backed by Gold and it was the GoldStorage (Gold Token) which is everyone can audit its total Gold Holdings in the BulleonStar Vault in Singapore in daily basis 24/7 seven days a week. No offense but it is true.
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Gold is a stable asset thats why it was preferred to back up something, like the fiat currencies, But our time has changed already, nowadays we trait Gold as a commodity, people can order and buy Gold anywhere so its the common thing in our era. But after the proliferation of cryptocurrencies, the introduction of GoldBacked Stablecoins has become common and popular But there's also a risk because most of the projects were not backed by Gold. Only one project I know that backed by Gold. and it was transparent enough to show that their Gold token is backed by Gold and it was the GoldStorage (Gold Token) which is everyone can audit its total Gold Holdings in the BulleonStar Vault in Singapore in daily basis 24/7 seven days a week. No offense but it is true.
Thanks for your comment. You are correct about the adoption of crypto-based gold in recent times. The idea is because gold can actually hold it's ground against market volatility. This property has given gold an ultimate advantage over fiat-backed stablecoins.
I'd like to make something clear though; Aureus Nummus is a project that is still in production. It has not launched. The team has a solid plan to utilise a verifiable storage where all the real gold can be cross-verified against digital ANG coin
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Gold holds the real potential for the future; the world is currently in crisis andvthecwsy forward for the people that has a huge fiat pile should also consider selling them
You are correct #Abinsur. Fiat is a dangerous and risky asset to have in a fragile economy. The best option is gold. Gold does not bow to the forces of devaluation. Thanks for you comment
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Most goldstable projects are at risk. Projects are not currently successful. Because most good people do not invest and support. No one can say exactly why this change has taken place. However, in the early days of cryptocurrency, people supported gold tokens and projects. But I hope it will be stable. Thank you for a good post.
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Most goldstable projects are at risk. Projects are not currently successful. Because most good people do not invest and support. No one can say exactly why this change has taken place. However, in the early days of cryptocurrency, people supported gold tokens and projects. But I hope it will be stable. Thank you for a good post.
Thanks for your comment #Plaglamon. Correctly said, one of the problems faced by crypto projects is the required support by the investors. Not too many investors invest and support good projects.
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Gold for people will still remain a reliable repository of their savings and it has always been a good protection against inflation.
Gold tokenization takes only the first steps. There are also many more unsuccessful or fraudulent projects, so there is not much demand for them yet. It takes a certain amount of time, organizational regulation, and the support of this type of activity on the part of states.
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No doubt, gold is the best to be invested on especially for long term. The value will not decrease. Gold will be always increasing its value better than others. However if becoming short trading, I think it is not suitable enough. That is why every single thing has its upside and downside for investment.
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I need a good financial adviser who will tell me how to spend and invest my money correctly. Someone has contacts of such a specialist, it's just about a lot of money.
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Gold represents a tool that contributes to the growth of a population's affluence.
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An excellent article! Makes a good case for keeping one's savings in gold. I also think that part of my capital still needs to be invested somewhere, for example, in real estate or other small projects. Even now, there are cryptocurrencies and NFTs. Many rich people keep their money in cryptos to avoid paying taxes. The more knowledge you have in economics, the easier it is for you to manage your money. For example, when I opened my business, I decided to learn as much as possible about many things, from basics to complex stuff -- for instance, the terminal value formula in a DCF (https://www.wallstreetoasis.com/resources/financial-modeling/dcf-terminal-value-formula) and the like, which helped me calculate my company's future income thanks to the Gordon Growth Method.