Gold Bits Coin GBC: Real Gold Backed Cryptocurrency Token?
Founded by an exceptional team of IT, Financial, Funds Management and Audit experts, the Gold bits coin is a two-sided rewarding Cryptocurrency that is set to take the paperless cash industry by storm with every bitcoin owner expected to receive one I Gold Bits Coin in exchange for one bitcoin. So, if you have a bitcoin, you can as well own Gold Bits Coin.
Founders claim that with this coin, “one is never really broke” because you have the backup of the real gold. Built on the smart contract technology of the Ethereum blockchain, the Gold bits coin adds an extra layer to the Ethereum with the Gold back up that offers the coins the security they need while emphasizing on transparency.
Gold Bits Coin GBC PROS
Whereas the Gold Bits Coin GBC is built on the same mechanism as the bitcoin cash, the newest Cryptocurrency claims that its advanced blockchain has come in time to solve issues witnessed on the bitcoin system as well as on other Cryptocurrency in the industry.
Additionally, the founders of Gold Bits Coin GBC claim that the blockchain platform used by the platform allows the operation of multiple applications at the same time to identify any details on the system, thus shortening the transaction time. Their operations are also guided by the use of ERC20 token which enables peer-to-peer transactions worldwide. Nothing new here because most of the platform use this as well.
With a secured database of user details, it is almost impossible for hackers to pull through. Consequently, the use of the immutable ledger offers the much-needed transaction verifications hence building trust between stackers.
The founders of the Gold bits traded well regarding gaining the first-time credibility, having been endorsed by one of the globally recognized elite Angel Investors. But still, there is a reason to dig deeper. The platform places its fund's allocation at consultants 10%, administrators 5%, management 10%, holders 30%, online and direct marketing 20%, gold bought 15% and R&D 10%.
Armed with a dedicated marketing team working towards expanding the reach of the Gold Bits Coin and a secure ecosystem of a valuable coin, the innovation seems like a great deal, but is it?
Cons of Gold Bits Coin GBC
The code of the Bitcoin gold is yet to be released into the public domain for scrutiny and review from experts hence creating doubts on withdrawal of vital information that could help out the general public in making important decisions related to investment.
With experts in the Cryptocurrency industry such as Marek Palatinus (launched bitcoin's very first mining pool), doubting the claims of bitcoin Gold’s founders on the possibility of decentralizing the mining sector. There is a ray of discredit already roaming in the market.
On the other hand, the Gold Bits Coin is already facing a possible competition as Rhetto Creighto, a renowned bitcoin developer revealed of the plans to come up with a protest fork software that will offer the very same services. Therefore, there is a bumpy road ahead as it is not yet clear which of the business community will stick with bitcoin Gold.
Additionally, the bitcoin gold is yet to receive any substantial support from recognized miners and exchanges a thing that was noticed very early in the development of the bitcoin cash.
To Invest in Gold Bits Coin GBC or Not?
The future this new Cryptocurrency is not yet clear. Thus, there is need to be cautious before committing to any investment.