Brazil PAXG Personal understand
While you all do not understand that
Backing ≠ Value
Token ≠ Asset
you will continue to hit your head and enter in despair over any fluctuation.
The $PAXG is a crypto backed by physical gold, so if there is any liquidity or trust issue, the value of the token may not follow the price of gold in the market.(EDIT: So saying that Paxos is committing fraud does NOT help, "capitalist.")
In other words, if for example Paxos is prevented from buying gold, the token may end up diverging from the price of the asset itself, since the market continues to trade normally.
And if, in an extreme scenario, Paxos goes bankrupt, who guarantees the backing for those who hold the coin?
So calm down people without despair
If you want 100% backing in gold, BUY GOLD
While you all do not understand that
Backing ≠ Value
Token ≠ Asset
you will continue to hit your head and enter in despair over any fluctuation.
The $PAXG is a crypto backed by physical gold, so if there is any liquidity or trust issue, the value of the token may not follow the price of gold in the market.(EDIT: So saying that Paxos is committing fraud does NOT help, "capitalist.")
In other words, if for example Paxos is prevented from buying gold, the token may end up diverging from the price of the asset itself, since the market continues to trade normally.
And if, in an extreme scenario, Paxos goes bankrupt, who guarantees the backing for those who hold the coin?
So calm down people without despair
If you want 100% backing in gold, BUY GOLD