Bitcoin Forum

• To popularize BlackGold as a New Way to Invest in Oil trends

By tying BlackGold to the OPEC oil supply, we are circumventing the typical effects of the interaction between supply and demand on cryptocurrency, which causes its massive fluctuations. Instead, BlackGold is a way to indirectly invest in new technologies related to oil, amongst other things. In order to popularize BlackGold, social media campaigns will be the main focus, with the secondary focus being put on supporting projects which utilize BlackGold, or are related to BlackGold and its goals.

• To Create a Cyber-Based Platform for the Oil Market

BlackGold seeks to develop a platform where cryptocurrency investors can invest into the oil market, and where oil investors can invest into the cryptocurrency market in a safe way, where risk can be minimized. This exchange is a comprehensive solution to the lack of connection between the market of cryptocurrency, and the global commodity, stock, future and bond market.

How are you gonna maintain your price level when it is already in exchanges?
Since it is pegged to oil, how are you gonna keep that when you are already in trading?
And since you are giving freebies here, I don't think they will respect the price when it is already being traded.
They will discard their holdings as long as there is value to it, even if it is not in the level of your OPEC reference basket.

1. We directly burn and mint the supply accordingly in order to prevent appreciation/depreciation. Not only that, but we also have a massive fund (worth over 12 ETH) that directly purchases orders that correspond to the price of the OPEC Reference basket as cited here (https://www.opec.org/opec_web/en/data_graphs/40.htm). Our holder's funds are of utmost importance to us.
2. Not sure what you mean by the second question. I think I answered that in the first point, but if not, let me know.
3. We aren't giving "freebies" as per say, our airdrops will be worth something, however, not enough for people to manipulate price to extremes. We also have a distribution method set in place in order to prevent such occurrences.
4. That is why we maintain a strong link to projects, and we will also be introducing a platform where projects can be directly 'fueled' using BLKG, by BlackGold holders.

If you have any further questions, please feel free to join our Discord, or ask them here!

I also don't believe that in the current market people will sell, as it is likely to get better.

What's with the lack of details and bland looking website?
And 1,189,800,000,000 (that's 1.189 Trillion) supply? Isn't that a bit much?
What does the team/founders gonna do with their 16% share? Are those token locked for a couple of years?
'cause if not then there's nobody stopping you guys on dumping these tokens when it gets some value.

that is if they will ever reach their target value which is pegged to oil. I don't know how they can keep their price according to oil price in the market? do they have assets to back up this project? I read that he's saying they have massive fund - but only worth over 12 eth? I don't think that's considered to be massive fund in crypto. This is like stable coin, if you don't have assets to back your price, it would be hard to maintain the price level in the market.

1. Regarding the website, this is unfortunately a temporary design, we are working on the new design for the website.
2. That is the direct supply given from OPEC itself. We are based off the OPEC Reference Basket, and as such, we must maintain their price and supply.
3. I can't say anything for the other founder, but I plan to HODL. I'm very hopeful that the market is gonna increase in terms of oil, as soon as the Saudi/Russia Conflict is over. However, we have installed system methods to prevent dumping, and that will not be the case.

That is a valid point and we will address that. Thank you for bringing this up.

As always, there is nothing.No team,no working product,and only the ambitions and promises. Times are different now and no one believes in promises.

Clearly a man who hasn't actually take a look at the website, nor the projects in the Whitepaper, and has the legendary Geoma Dao Icon.

You will have to do more than that. As history already has it, burning and mint the tokens isn't enough to control appreciation/depreciation. Also you said you are going to have " a Massive Fund" of just over 12 ETH?  :o
Really? You do realize that's just over $1500 at the current rate... massive fund, huh?  ;D ;D

Yes, we have recognized that issue and we are currently working on the solution. Thank you for your concerns.

I guess they need to look for private investors here if they do really want their coin to be pegged to oil. 12 ETH is a very small amount of money when you are talking about exchange liquidity. Tap private companies or individuals that can support you financially, pitch your project and they might be interested. Sustaining the price level is very difficult one a coin hits the exchanges.

Yes, we were hoping early investors can cover a bit more of the funding, as why we advertised here. At the moment, there is development on this topic and we might be able to update all here on the topic.

I joined your discord as its very easy way to follow any project.  I'm always interested in the contrast between the online crypto standards and the necessary commodity trade that will be required in future years once Dollar is no longer the main means of payment and global reserve currency status transfers to other systems of exchange.    Change brings volatility and opportunity so I've got an open mind to anything which addresses an expanding open playing field.
   Only recent oil blockchain I can remember personally is the Petro PTR nonsense from centralised government of Venezuela, I never believe their heavy handed top down control would really benefit them but its a shame it never led into something superior just from the epic scale of an entire national system as they attempted.

Is the timing deliberate to capture this inflation adjusted low for Oil and gain a kickstart from the no doubt forthcoming rising price for energy over the next years.

We have planned the release of this coin so the price per barrel is low, as to allow more investors to enter the market. Our first priority is investors, who deserve all that they can get. We hope to see you during out release!