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RE: Gold Backed Cryptocurrency? Introducing Karatpay (giveaway & competition)
Let me give you some tips about gold..traditionally gold is given as a wedding, proposal, engagement, giving birth, and birthday gifts. When dollar goes up gold goes up too.. When dollar goes down gold goes down too.. For example quarter (2,75 gr), half (3,5 gr) and big (7gr) are mostly preferred by people for making investments and for gifts too.. I got married 4 years ago and we collected 375 gr gold as a wedding gift.. 4 years ago 1 gr gold was 107 TRY and now its 176 TRY.. If you make your investment on gold you are not going to loose anything but going to make good money.. Good luck..
When the dollar goes down,gold actually goes up, other than that you practically NAILED it. thanks for participating. :) EDIT: also gold & silver was issued by governments in the past as a form of finite money before Fiat ever existed. i.e before the printing press.
you are welcome.. but lets make it clear.. Dollar's value is determined by gold and other currencies value are determined by dollar.. Gold=dollars= other currencies.. Buying and selling dollar, strength of its economy etc are other topics. dollar has an international power that is why its value is determined by gold and other topics.. We invest on gold so we are following every single detail :) Last year 3 billions dollars were paid for gold in Turkey :)) If you are looking for a bride/groom dont get marry before you visit Turkey lol
in my country the dollar was once backed by gold. but in the 1970's Richard Nixon removed the gold standard sending a shockwave of fiscal irresponsibility to the global financial sector. Which is why Karatpay CASHGOLD exists. I definitely want to visit Europe and tour hostels around the world, and won't hesitate to stop by Turkey. :)