Why GOLDCOIN is ‘Hard Money’

Why GOLDCOIN is ‘Hard Money’

Investors prefer GOLDCOIN because it sticks to the spirit of blockchain currency systems

The considerable success of GOLDCOIN, the cryptocurrency that has skyrocketed in value over the past three years, can be accounted for by the fact that it is a crypto-currency that follows the basic plan for a blockchain system without any frills or complications.

“GOLDCOIN is hard money,” explains Greg Matthews, system administrator for the cryptocurrency.”

Goldcoin Surpassed $1,000,000 market capitalisation for first time during 2017, Matthews notes. And it has increased from near-zero in value to $0.16 in less than three years.

Goldcoin-Chart-11-26B

 

“Why? Because Goldcoin has the sense of Satayoshi Nakamoto’s original design  for crypto-currencies,” Matthews says.

The Hard Money Tradition

Economist Jeffrey A. Tucker, of the Foundation for Economic Education, defines the ‘hard money tradition.’[1]

Tucker points to the pioneering work of economist Ludwig Mises, which is often cited wrongly in discussion of new currency concepts. Mises defines the relationship of money and value as based on utility – “If we look back into the past, we must eventually arrive at a point where the value of money is nothing other than the value of an object that is useful in some other way than as money….”

In other words, the initial value of money, before it becomes widely traded as money, originates in its direct utility. Crypto-currencies are useful, Tucker explains, because they combine money with a payment system.

GOLDCOIN fulfills that paradigm better than any other crypto-currency, because of the intensive and accurate way it is managed.

“GOLDCOIN  provides a more effective platform for investment in cryptocurrencies than any other,” Matthews says. “Goldcoin is faster than both Bitcoin and Litecoin in terms of payment confirmation times. This means that it is far more useful as a medium of exchange.”

GOLDCOIN’s topnotch development team has made the coin’s network faster and better performing than any other. GOLDCOIN recently added three new experienced developers in its continuing effort to keep its network the best in the sector.

Matthews notes that GOLDCOIN unique Goldenriver algorithm provides an impregnable defense against ASIC attacks, which can wreck the value of a cryptocurrency.

And GOLDCOIN is protected from the 51% attack, in which hackers become able to control the majority of the network mining power (hashrate).

Amir EslampanahAs renowned GOLDCOIN developer Amir Eslampanah explains:

“DGW/KGW and their variants (other defense systems) use something akin to a weighted moving average to determine the difficulty.. Whereas Golden River uses median and average times in accordance with various pre-defined clauses in step cases to provide near-best case movement without a pre-determined curve.

The result is that while KGW and their variants are prettier to look at in their implementation, Golden River vastly outperforms them in cases where the difficulty needs to drop quickly. With Golden River the network difficulty can fall ~42% in a single block and still be accurate, in terms of the targeted block times, to the network hash rate. KGW and their variants perform something similar in function(they take much longer).”

No other cryptocurrency can claim to have such a powerful system to defend against attacks.

INVESTORS PREFER GOLDCOIN

“It’s clear that GOLDCOIN’s success is due to the exceptional skills of its developers, who have created a powerful network that simply fulfills the needs of investors, accounting for GOLDCOIN’s exceptional success,” Matthews says.

“We will continue  to invest in our network to ensure that GOLDCOIN remains the gold standard among  crypto-currencies,” he concludes.

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