Linking gold with a cryptocoin : Goldblocks' dream coming true

loonyfool (51)in #cryptopedia • 6 years ago (edited)

We have just reached mid-January and as expected, the world of cryptocurrency is still digesting the new years' celebrations, as the quick rise we witnessed earlier this month rapidly turned into a quick fall, the total market capitalization going down from about 800 billion $ to only 650 billion $ in less than 10 days...Again, don't overreact, as I said before, never become emotional, most coins are here to stay, this whole cryptocurrency creation is here to stay as it is a serious and solid project, probably the most interesting alternative to the "fiat money" and traditional bank system we live in. I personally believe it will end up replacing it totally before 2030. But this is another topic I will discuss in another post. Let's focus on yet another coin that I studied for you today: Goldblocks.

-----About the coin

As its name tells us, it is a coin which main purpose is to make a link between gold and the cryptocurrency world.
For those of you interested in it, here is its source code: https://github.com/goldblockscoin/goldblocks

There are mainly 2 sites dedicated to it, I recommend the first one because it is much clearer. But you can judge by yourself.

https://info.mygoldblocks.com/
https://mygoldblocks.com/

It is originally a mining company which was created at the end of the year 2015 in Slovenia, now its headquarters are located in Dubai. It is also the first company which links gold with a cryptocurrency. Goldblocks got listed in the Stock Exchange before the distribution started at all.

According to their website, their other purpose is to teach people how to trade by themselves, in extenso, to make cryptocurrency trading accessible to literally anyone, even the average Joe.

In order to reach this goal, they are already planning the creation of ATM machines for Goldblocks and Bitcoin in Germany. That's why they are willing to capitalize on the new crypto trend. They fully believe that more and more people are paying with electronic means and that the use of flat money (cash, or coins) will unavoidably disappear. That is mainly why they are wanting to link physical assets (gold) with a virtual coin (Goldblocks).

-----Evolution

Evolution of the value of Goldblocks since its creation.

Screenshot from 2018-01-16 06-42-09.png

What we can deduce from this graph is the fact its value stayed quite the same all the way from its creation to the end of last year, the average being about 0.008$, and sometimes reaching a peak that was 0.03$. Not much to make big profits at that point.

Evolution of the value of Goldblocks from October 2017 to January 2018.

Screenshot from 2018-01-16 08-12-42.png

This graph is more interesting. You can see the quick rise. It happens around November 22nd. It goes from 0.016 to 0.34 in only 1 week. CRAZY. A factor 20. And you'd have plenty of time to be aware of it. Then it quickly decreases to 0.23$, before rising up again until the same 0.34$, everything happening during the following week. But from 7th December until now, it has kept falling down in a way that can be approximated by an exponential decrease. So maybe it is not interesting right now, but who knows ? In my view, when you get to know how a coin can have potential to grow up fast, you can only try and buy it when it's low again. Surely some people have managed to get their profit out of it during that crazy week when it rose up. That's why it went back. And who knows ? Maybe it will rise up again.

-----My personal view

Personally, I trust this coin as a future major entity inside this market, because again, it is the first to make the link between gold, a physical asset, one of the oldest ones, and the cryptocurrency world. I trust their project that seems serious, according to their source code too. Its rank may only be 734, but again, this doesn't tell much about it right now.
If I could find a little drawback, a con, that would be the fact that it could lead some rich people to invest massively inside it (the people who actually possess the biggest amounts of gold). But I guess the same kind of thing has happened with Bitcoin and the fact it links gold to the virtual world is only yet another detail. It's up to them to manage regulating this, I believe it will still be an interesting alternative that will keep growing up, and hopefully, the real world (AFK world, or what I call "away from keyboard" world) inequalities won't migrate inside it. That's all we can wish for.

That's it ! Thanks for your attention ! I will be back soon with more of the same kind ! Stay crazy and keep making fun of life instead of letting it make fun of you :D

MY SOUNDCLOUD PAGE FOR EDM LOVERS AND MUSIC ENTHUSIASTS

https://soundcloud.com/user-845067406/hydrogen (with the most successful creation I believe, but you can also take a look at the others)

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