would the ammount of gold or whatever its backed by go up or down with the price? like if the coin goes up 130% in 2 days in value would i get 130% more gold for cashing it in or would gold have gone up 130% in value and the coin is worth the same amount when chashed in?
O.o
I still like the idea of gold for crypto
xD
I think it's the other way around. If the coin is backed by gold, the coin's value will move with gold.. Gold would have to go up 130% for the coin to do the same. Unless I missed something..
That's what is sounds like!
would the ammount of gold or whatever its backed by go up or down with the price? like if the coin goes up 130% in 2 days in value would i get 130% more gold for cashing it in or would gold have gone up 130% in value and the coin is worth the same amount when chashed in?
O.o
I still like the idea of gold for crypto
xD
I think it's the other way around. If the coin is backed by gold, the coin's value will move with gold.. Gold would have to go up 130% for the coin to do the same. Unless I missed something..
Hell its better then fiat.
:D