Do you think Gold can keep Tether gold?

[Gubre]

Tether had launched another coin called Tether gold with the partnership of bitfinex and its price depends on gold. It has been said that Tether gold is another stable coin in the market but the current price is $1,899.88 with the ATH record of $2,040.37, with 3,990 total supply and the rank market is at 4049 in coinmarketcap.
Maybe the reason why it is another stable coin is because its price is depend on gold which is one coin is equal to one troy fine ounce of physical gold. But the current price of gold is 1,912.30 which a little bit higher than Tether gold.

Do you think tether gold can keep itself to ride with the price of gold if in the first place the price is a little bit left behind. Because for me tether gold is just a perfect illustration that cryptocurrency is still struggling to gain the support of top big investors in world no wonder tether's future is unsure.

What do you think guys?

[@amadi]

I believe this can not be exact exchange because of the volatility of crypto currency. Gold still remain gold as a physical entity. Crypto will need to develop more.

[Joyjoyce0]

A gold backed stable coin is most likely to stand, especially when it comes from a reputable developers like tether

[masterrex]

I'm sorry mate, But I'm not buying with it, Tether Gold has not observed transparency, can we verify where they stored that physical Gold that was backed their token circulation? The only Goldbacked stable coin that was transparent enough is The Digital Gold (Gold Token) because anybody can verify their available physical Gold in the BulleonStar Vault in Singapore, by using this Live Audit report for transparency https://www.bullionstar.com/myaccount/audit and use this account number (17081) without that kind of proof I believe Tether Gold is incomplete and hanging. they should provide those Gold cast bars, serial numbers like what Digital Gold is doing in the name of transparency.

[Debasco]

sure in most investment ROI is paramount, if gold backed tether it has the chance to stand and it will gain people confidence and thereby increase the rate of it investment.

[Blaze]

sure in most investment ROI is paramount, if gold backed tether it has the chance to stand and it will gain people confidence and thereby increase the rate of it investment.

I don't think Tether can fully support Gold because if they do it will negatively affect Tether's reputation.

[TomPluz]

I am more inclined to believe that soon the dominance of US Dollar in the global marketplace will dramatically wane, hence there is that need to have a good alternative in placed even right now to be ready when that time can come. The move of Tether to introduce a stable coin pegged on gold is a good move. There is a big possibility that this can be the one to take the dominance of the stable coin market soon. As of now USDT is still dominating the scene but once the USA Dollar can start to enormously decline then Tether Gold can be taking the vacuum. This is just my opinion and whether this can happen in the future or not is something I can not guarantee.