Proof of Usefulness Report

Gold Bits Coin

Analysis completed on 1/22/2026

-11
Proof of Usefulness Score
Lab Mode

The project 'Gold Bits Coin' appears to be an abandoned cryptocurrency from the 2018 era with no current trading volume or active development. The submission contains significant red flags, including a verifiable falsehood in the traction section ('most people have used my product') and a mismatch between the project name and the input name field ('BlazeBlade'). External search results confirm the project is inactive/dead (market cap null, no volume). Due to the fraudulent traction claim and abandoned status, the score is negative.

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Score Breakdown

Real World Utility+1.25
Audience Reach Impact+0.0
Technical Innovation+0.75
Evidence Of Traction-12.5
Market Timing Relevance+0.0
Functional Completeness+0.0
Subtotal-10.5
Usefulness Multiplierx1.08
Final Score-11

Project Details

Project URL
goldbitscoin.com
Description
Gold Bits Coin is a company that operates in the digital currency and blockchain sector, as indicated by its domain, goldbitscoin.com. The company focuses on providing a cryptocurrency that is backed by gold, aiming to combine the stability and trust associated with gold investments with the innovative and decentralized nature of blockchain technology. Gold Bits Coin seeks to offer a secure and reliable digital asset for investors looking to diversify their portfolios with a cryptocurrency that has tangible backing. The company is likely involved in the development, promotion, and management of its digital currency, providing users with a platform to trade and invest in gold-backed digital assets.

Algorithm Insights

Market Position
Early stage requiring focused development
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline