Yes, I am curious to know the question to that answer also. We actually live it but I wonder if it impacts anyone's decision on whether people support ICOs that do that. Please let us know.

I agree completely. In history, back in ancient Rome, the Emperor Augustus (30 B.C.-14 A.D.) set the price of gold at 45 coins to the pound.

In other words, a pound of gold could make 45 coins. The next revaluation occurred during the reign of Marcus Aurelius Antoninus (211-217 A.D.). He debased the value to 50 coins for a pound of gold, making each coin worth less and the price of gold worth more. Diocletian (284-305 A.D.) further debased gold to 60, then Constantine the Great (306-337 A.D.) debased it to 70. They did this to finance the military so they could stay in power. They also increased taxes.

These emperors lowered the value of the currency so much it created hyperinflation. To give you an idea, in 301 A.D., one pound of gold was worth 50,000 denarii (another coin based on silver). By 337 it was worth 20 million denarii. As the price of gold rose, so did the price of everything else. Middle-class people could not afford their daily needs. That's one reason the Roman Empire began to crumble.

So even back during this time Gold was used as a medium of exchange and a store of value. Also, this is an example of what can happen to a nation when the government does the above.

Despite these warnings, Woodrow Wilson signed the 1913 Federal Reserve Act. A few years later he wrote: I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of  credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most  completely controlled and dominated Governments in the civilized world no longer a  Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men. – Woodrow Wilson

The greatest aspect is that gold has never gone to zero...or even close to zero. Doesn't corrode nor is it easy to destroy. Its has all the properties needed to store value based on its weight. To me that's so so amazing! And what is so so rare is a gold mine that is making an offering on the blockchain. I look forward to the future of this project!

It is important to be aware that the value of gold stays relatively stable. In the last year, it has hovered between $1200 and $1350.

On the other hand, the price of Bitcoin has climbed to an all-time high of early $20,000 in 2017, and has fallen to slightly below $6500 at the time of writing this .

A deeper and more interesting question is the following…

“What should gold be worth?”

In times when the dollar is experiencing a crisis of confidence (and knowing that it caused the crash of late 2008), it is the principal problem behind what is unfolding as the slowest economic recovery on record.

So, even though the idea of defining the value of the dollar in terms of the value of a fixed weight of gold is not a radical notion, the cost of coping with the economic chaos is enormous and growing, showing up in many different ways.

So, while the blockchain accounts for the coins, accounting for physical stored gold must come from the dollar. This is why the concept of buying gold with Bitcoin is both good and bad – and why both gold and cryptocurrencies have their ups and downs in terms of volatility.

As we all should know - with fiat currency the government can essentially manufacture money virtually out of thin air. [7] Since leaving the gold standard in 1971 US currency in circulation (M1) increased from $48.6 billion to over $1 trillion dollars in 2012. [4] Between 1971 and 2003 the entire supply of money (M3) in the United States has increased by 1,100%. [29] Under a gold standard, new money could only be printed if a corresponding amount of gold were availabe to back the currency. This restriction is an existential check on government power.

Having a gold mine already and producing gold everyday allows us the ability to realistically offer a great ICO for our investors. 

Its great that others are understanding that by combining the best attributes of Gold and cryptocurrency - we are embarking on a groundbreaking venture. I believe that blockchain technology will lead the way in the evolution of money and how money is valued.

As Goldma details the history and precedence of Gold as a store of value, investors should also understand that the GMA token is the solution that we speak of in our youtube videos . We discuss the hottest topics relating to money, crypto and value. We do this in order for others to get a sense of who we are and what we represent. Value, Social Responsibilty, Wealth, Health and Knowledge of Self!

E-Gold, the first digital currency backed entirely by gold, was launched in 1995. It was quite popular, used by millions of people around the world before it shut down. There were other unsuccessful attempts at launching a digital currency backed by gold before the craze died out for awhile.

After Bitcoin became popular, many companies started dabbling in gold-backed cryptocurrencies again. For example, in February 2015,  Xaurum launched its gold-backed cryptocurrency, but it fizzled out too.

More recently, thanks to the unprecedented cryptocurrency boom in 2017, there has been renewed interest. In the past few months, Golmda cryptocurrencies have launched and , provides for an excellent business model for participates.

Hey Rich,
 You are absolutely correct. Gold has consistently held value over time. Goldma has recognized this and now integrates the properties of gold with the attributes of blockchain technology. Thats a strong reason why this project will become very successful. So the early adopters will do very well!

Until today a very small part of investment money is allocated in cryptocurrencies. Thus, it may be possible that the current investments in cryptocurrencies are undertaken by a non-representative part of the overall investment community. Because of this and the limited data range, it is not possible to predict with any certainty, whether non-asset based cryptocurrencies are just an effect of market exuberance or not. The main question is whether it is possible to convince enough people to use non-asset based cryptocurrencies until it becomes accepted as a currency by the majority of people and whether or not it will reach a relevant trading volume between individuals and organizations as a means of payment.

The facts above give rise to introduce an asset based cryptocurrency but in particular a gold backed cryptocurrency - the Goldma (GMA) token.

You make some great points! It makes me think about other factors also such as: One of the most common criticisms of Bitcoin is that it is not backed by anything, nor is it intrinsically valuable. However, others have long been arguing that the US dollar has no intrinsic value and neither does gold. But to really answer this question, this analogy is too flat. True, the US dollar is not directly backed by a useful commodity but rather indirectly by a very large user base and indirectly with the GDP of a whole country and its resources. Gold on the other hand was used for decorative purposes and a payment method for millenniums. Bitcoin advocates argue that Bitcoin is backed by a predictable supply over time. This allows to plot the supply schedule of Bitcoin, meaning it is highly predictable while also being uncheatable through the manipulation found in traditional monetary policies. But the Goldma token combines the best attributes of gold and bitcoin/cryptocurrency

Yes, this has been a very very long journey. Yet, I am so so proud of the Goldma team and all the people who has helped us thus far. Lets keep pushing! More Gold and More value for our investors!

So so true, that's the beauty of the blockchain technology! The ability to transfer value with no middle men or closing times. Very fast and with no hassles.

This could definitely be the gold standard 2.0 of how value is transferred. There is alot of debate in the world of finance and economics regarding money and how money derived and how value is stored. Money and value should go hand in hand...but currently, fiat currency is not holding value as it relates to gold. But when the medium of exchange can no longer hold value. My contention is that US dollars no longer hold value so - can it still be considered money? I think not. Gold is the money!

I completely agree. I am watching a debate where they are contending that the ideal money in the future is cryptocurrency backed by gold. Well, the future is already here - Goldma is that project that satisfies all the elements

This is so so true. That is why you see a dedicated team on all channels and platforms responding to everyone. We love what we are doing and are very excitied about the develops in the last couple of months. On our roadshow, we met alot of people and made a few friends.

The new ball mill is working very nicely! We are producing more than we ever produced! So we are very very excited! This month we are on track to break every record at the mine in terms of gold production.

Thanks so much Suharjo!! Things are looking good so far. We have reached our soft cap and are producing gold already. Also investors are definitely coming....we want to continue working hard and breaking new ground - literally