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Main => General Discussion => Topic started by: infovortice2013 on January 04, 2015, 02:37:30 am

Title: bitgold asset basic questions
Post by: infovortice2013 on January 04, 2015, 02:37:30 am

People ask me about our bitgold asset.

Is bitgold pegged to any real world gold market ? have yield?

1 bitgold is equal or represent 1oz of gold?

can bitgold be swittched for real gold? or for bitusd to buy same gold?

hope someone help to explain questions. and /or if asset have some more peculiarity

Title: Re: bitgld asset basic questions
Post by: bubble789 on January 04, 2015, 03:22:15 am

Theoretically, the value of 1 bitGOLD will be equal to the value of 1 oz of gold in the real world. Noone is obliged to exchange 1oz of gold for 1 bitgold (the peg is not maintained by any central entity) but market agents have the incentives to maintain the peg.
Off-ramps (agent that offers to exchange 1bitgold for 1oz of physical gold) will allow you to directly "redeem" physical gold. Or you can go the indirect route bitgold-> bts (-> btc) -> usd -> physical gold.
Hope it helps :)

Title: Re: bitgold asset basic questions
Post by: infovortice2013 on January 04, 2015, 05:05:43 pm

yeah helps  ;) thankyou.

Title: Re: bitgold asset basic questions
Post by: Akado on January 04, 2015, 08:14:09 pm

Are there any delegates whose one of the main objectives is marketing bitgold or handling anything related to this asset? just out of curiosity

Title: Re: bitgold asset basic questions
Post by: matt608 on January 04, 2015, 08:28:51 pm

Quote from: Akado on January 04, 2015, 08:14:09 pm

Are there any delegates whose one of the main objectives is marketing bitgold or handling anything related to this asset? just out of curiosity

There aren't any delegates focused specifically on bitgold yet.