Greetings!How do i get the money loaned?
GoldMint loan applicants transfer their GOLD as collateral to a certain GoldMint application. The rate of the loan is established at the time of giving and remains fixed through the loan period. Applicants needs to consent to GoldMint loan terms to receive the loan.Applicant is given various options for repaying loan amount and for mode of repayment. If the borrower defaults, his GOLD cryptoassets are transferred to GoldMint. What is trust management?
Trust management occurs when investors send their GOLD to GoldMint and the company uses these assets for P2P loans or for buying physical gold (e.g., for goldfield development). How do they work?
MNT is used as a stake within the PoS (Proof-of-Stake) consensus algorithm. Namely, the more MNT the miner holds, the more blocks he can validate and add to the chain. With regards, team GOLDMINT
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Greetings!What is custody bot?
Custody Bot is GoldMint's unique device. It is programmed for temporary holding, inspection, long-term storing and conveying of gold jewelry, coins or gold. What are the commissions for transactions in gold?
Most times, when a person buys GOLD for fiat, the price for GOLD will be LBMA + 5%. When they want to sell their GOLD, the price will be LBMA +3%. The commission for managing gold is 0.2-0.8% per annum, depending on gold volatility and investor traffic. After analyzing the correlation between the value of gold and the stock price of the three largest ETFs - the GLD (announced expense ratio 0.4% ), the IAU ( 0.25% ) and SGOL ( 0.39% ) - we estimate that the real backlog of ETF shares in physical gold is about 0.7% (prices are taken from COMEX on the LME ). What are MNT tokens?
MNT is GoldMint's internal token, used to confirm GOLD cryptoasset transactions. With regards, team GOLDMINT
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Greetings!Where does goldmint store its physical Gold and which etfs back gold cryptoassets?
GoldMint's gold is locked up in its storage reserves. The amount of gold and the ratings of this gold are confirmed by bank statements which are uploaded in the GoldMint blockchain to guarantee transparency. If the Gold is damaged or stolen, who will take responsibility for?
The gold we use to back GOLD digital assets is all insured. What is the limit of the loan?
The limit of the loan depends on the GOLD or the value of the gold that is used as a collateral. With regards, team GOLDMINT
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Greetings!Why tokens are Gold-backed? Why not using any other precious metals or other asset?
Gold- because it is a clear metal for general public. Plus, we have a company that buys 450 kg of gold per month from pawnshops all over Russia. These are unclaimed deposits. Therefore, we have our own source of gold - we don't depend on banks. Today, more than 1% of all gold is kept in pawnshops. In 53% of the cases, gold is bought as a mean of investment. Many people buy coins or small bars of gold. For them Custody Bot is an excellent solution. Coins are the easiest to examine. Initially, we set a task for our engineers to examine the quality of jewellery. They have succeeded and this is way more difficult than examining coins. What will happen if audit shows that GoldMint have less physical gold, than GOLD tokens emitted?
If the audit results show that, the value of physical gold is less than the number of the GOLD tokens emitted, the excess amount of GOLD will be written off automatically from the company wallet via the smart contract. How will amount of physical gold will be controlled?
All ratings are confirmed by bank statements which are encoded in blockchain by uploading relevant forms in IPFS to the blockchain, thereby recording ownership of the gold to GoldMint. These documents let the system check that GoldMint company owns X amount of gold. This X is checked by an auditor from GoldMint. This number is verified each month by an objective TOP5 audit company. Inspection confirms that the total number of GOLD cryptoassets in all wallets (Y) is less than the total number of X ounces of gold on the balance sheet. With regards, team GOLDMINT
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Greetings!What difference between Goldmint and other gold-based cryptocurrency?
Differences between Goldmint and other gold cryptocurrency blockchains include the following: Goldmint uses its own blockchain and altcoin, called MNT, for GOLD transactions. Goldmint uses Proof-of-Stake where miners are doled blocks/ transactions according to the amount of MNT they have. Proof of stake (PoS) is faster, simpler and cheaper than proof of work (PoW). Physical gold and ETFs are stored in a programmed decentralized storage unit. Custody Bot - Goldmint’s innovative storage unit is programmed to automatically identify and store gold jewelry, small ingots (up to 100 grams) and coins without human intervention. There was something written about API? What is about?
GoldMint plans to develop an Application Programming Interface (API) to regulate GOLD. This will achieve the following: ● E-commerce can use GOLD for transactions. ● Local banks and Monetary Financial Institutions (MFIs) can use GOLD as collateral. ● GOLD can be used escrow for bank accounts and as financial guarantees. What is a key features of GOLD cryptoasset?
The characteristics of the GOLD cryptoasset include the following: 100% transparency of information about all Gold owned by GoldMint, disclosing the company’s gold reserves and its ability to buy back GOLD at its current trading price. GoldMint uses the decentralized blockchain for smart contracts and for harboring its cryptoassets GoldMint uses ETF for liquidity and elasticity. ETF helps you trade gold far faster than physical gold does A secured loan may contain gold, like jewelry or coins. GoldMint helps you store this collateral in its unique Custody Bot. The ability to receive passive income as market price of GOLD rises. Robotic storage unit Custody Bot Buyback of GOLD for fiat according to the current price of GOLD. A fast user registration system and identification. With regards, team GOLDMINT
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Greetings!what is the use of api implementation?
The Application Programming Interface (API) regulates the GOLD, distributing these tokens to the following entities: E-commerce that can use GOLD for transactions. Local banks and Monetary Financial Institutions (MFIs) that can use GOLD as collateral. The API also regulates the GOLD that is used as escrow for bank accounts and as financial guarantees. Where is your bounty?
Here you can find all details about our BTT campaign: https://bitcointalk.org/index.php?topic=2091804What commission you hold?
GOLD commission is Z% (no more than 0.3%), but no less than a fixed Y amount of GOLD (i.e., more than 0,0025 GOLD depending on the current gold price). With regards, team GOLDMINT
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Greetings!how is my income calculated? (provide an example here as well)
The amount payable to the investor is the following: SUM = (1 + (X / 12) * T) * Q where the number X (i.e., x%) is set by GoldMint based on market conditions. T= the amount of months the gold was loaned. Q= the interest tagged to the loan. Example: As of August 2017, the parameters would be X = 10%, Y = 28% per annum, and T = 1 year. This means that GoldMint receives 28% per year, an annual 10% of which goes to the investor. what are some of the gold applications?
Custody Bot stores the user’s GOLD and/ or gold jewellery, coins and other other gold items as collateral and simply to protect them. It also serves as the conduit for inspecting the gold, therefore determining how much GOLD the user receives. which other elements does the goldmint infrastructure include?
Graphene hosts the Graphene blockchain, API and a crypto exchange for GOLD trade. With regards, team GOLDMINT
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Greetings!how are the commissions distributed?
75% of GOLD commissions are sent to miners/ MNT holders as rewards for verifying blocks. The other 25% are directed to charity and platform development. what is trust management?
Trust management occurs when investors send their GOLD to GoldMint and the company uses these assets for P2P loans or for buying physical gold (e.g., for goldfield development). which operations does goldmint run with gold which ensure the investor with some income?
GoldMint provides investors with the following opportunities: 1. P2P lending - GoldMint gives investors significant interest when they lend GoldMint their gold (in the form of GOLD). 2. Opportunities related to physical gold - GoldMInt helps gold investors invest in goldfield development and in trading gold metals. With regards, team GOLDMINT
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Greetings!What difference between MNT and GOLD?
GOLD Cryptoasset. Cost and buyback are 100% based on LBMA It's application depends on the agreement described by GoldMint company. It's value depends on amount of gold in reserves/ circulation MNT GoldMint’s cryptocurrency is used to confirm GOLD cryptoasset transactions. Amount of MNT determines amount of GOLD transactions. Growth of MNT depends on turnover of GOLD. what is goldmint?
GoldMint is a blockchain-based company that helps gold owners trade, loan, invest in and use their GOLD assets, that are 100% backed by physical gold, for profit. what is the key idea of the project?
GoldMint buys, sells and repurchases GOLD at the current market price for physical gold. The company uses exchange-traded funds (ETF) or physical gold (of 999 quality) as its security. GoldMint's gold reserves equal or exceed its mined amounts of GOLD. With regards, team GOLDMINT
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Greetings!Clarify the roadmap for your investors
We plan to start our ICO on September 20th, 2017. After that we are going to develop our blockchain. Next spring we are going to put GOLD in rotation. Around next autumn Custody Bot will be released and we will get on american exchanges since our token is not a securities. How was the idea of GoldMint conceived?
The idea of GoldMint reached Dmitry Pluschevsky's mind when he worked as a director of a venture fund in Russia and was looking for niches for a new business. Who is the escrow of GoldMint wallets and who will check the expenditures of the funds raised during ICO?
The board of directors of GoldMint company - Dmitry Pluschevsky, Konstantin Romanov, Igor Ryabenky (Altair Capital) and two independent directors will check the expenditures. They approve the company’s budget for the development. With regards, team GOLDMINT
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Greetings!what happens in case the loan is not repaid?
If the borrower defaults, his GOLD cryptoassets are transferred to GoldMint. Who is your target audience?
Crypto traders – These participants can use GOLD for hedging cryptocurrency volatility, as described in the white paper. GOLD can also be used to convert cryptocurrency into fiat. Standard investors – These investors may want to buy GOLD as cryptocurrency or as a type of security. E-commerce and self-employed individuals – GOLD can be used to pay for goods and services. Its low volatility asset and predictability make it an invaluable form of currency. Banks – GOLD cryptoassets gives banks new opportunities. There’s free liquidity and extra earning potential from trading gold into fiat and the reverse. Cryptocurrency has become a massive industry. Banks can profit from earning standard commissions, commissions on gold storage, and from using the GoldMint cash management system. At the same time, banks that invest in GOLD reinforce GOLD’s reputation, which increases their profit. Banks also earn commission from participating in the GoldMint partner program. Today the cryptocurrency overall circulation has achieved more than $700 billion a year and the commissions for deposit and withdrawal are more than 5%. In case the bank sets lower commissions for GOLD buy/sell for a client, most transactions (cryprocurrency deposit and withdrawal) will switch from underground exchanges to the banks. At the same time the integration with GOLD only is necessary, while all the other cryptocurrencies can be purchased on a cryptoexchange directly. Banks also have revenues from cash management and commission charging for gold storing owned by GoldMint company. Still one more source of income for banks is the revenue from the partner program which includes adding GOLD digital asset to the product line of the bank’s department of Wealth Management. Where can I find your advisors?
Goldmint is fortunate to have experienced financial market experts. Without them, the realization of Goldmint would not have been possible. GoldMint project is supported by: Igor Ryabenkiy https://facebook.com/igor.ryabenkiySerge Umansky https://medium.com/@inchain/real-business-people-believe-in-blockchain-5cc5f50d213fOleg Seydak https://facebook.com/oseydakAlex Butmanov https://facebook.com/profile.php?id=100012237450995Eugeniy Ezhov https://facebook.com/Ezhov.homeAlexey Antonov https://facebook.com/auantonovAlexey Chuykin https://facebook.com/alexey.chuykinKirill Zhukov https://facebook.com/kirill.zhukov.spbJulian L. Zegelman https://facebook.com/jzegelmanIgor Lemh https://facebook.com/lemhk.igorAlexey Lazutin https://facebook.com/alazutinAndrey Zhyrnih https://facebook.com/andreyzhirnykhSegle Lonshakov https://facebook.com/EnsRationis2020With regards, team GOLDMINT
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Greetings!what is the limit of the loan?
The limit of the loan depends on the GOLD or the value of the gold that is used as a collateral. how do i get the money loaned?
GoldMint loan applicants transfer their GOLD as collateral to a certain GoldMint application. The rate of the loan is established at the time of giving and remains fixed through the loan period. Applicants needs to consent to GoldMint loan terms to receive the loan.Applicant is given various options for repaying loan amount and for mode of repayment. If the borrower defaults, his GOLD cryptoassets are transferred to GoldMint. which credit cards are emitted?
All members who have GOLD receive GoldMint Partner banks credit cards that are aligned with VISA and MasterCard systems. GoldMint plans to create a special bank card called Bogatstvo for prominent pawnshops like Blago and Fianit. With regards, team GOLDMINT
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Greetings!Can i recieve cryptocurrency or fiat loan from Goldmint ?
You may be able to receive a cryptocurrency or fiat loan from GoldMint PTE LTD, using GOLD as collateral. All applicants will need to undergo the KYC procedure. All members who have GOLD receive GoldMint Partner banks credit cards, aligned with VISA and MasterCard systems. To that end, GoldMint plans to create a special bank card called “ Bogatstvo ” for prominent pawnshops like “ Blago ” and ” Fianit “. Process: GoldMint loan applicants transfer their GOLD as collateral to a certain GoldMint infrastructure element. The rate of the loan is established at the time of giving and remains fixed through the loan period.Applicants needs to consent to GoldMint loan terms to receive the loan. Applicant is given various options for repaying loan amount and for mode of repayment. If the borrower defaults, his GOLD cryptoassets are transferred to GoldMint. Credit card limits are set according to the value of the user’s GOLD.These cards can be used for payment in shops, restaurants and cafes. Interest is accrued to unpaid credit debt. If this remains unpaid, GOLD reverts to GoldMint. how can i get a loan using custody bot ?
After you’ve done the KYC process, you enter your gold commodities in the Custody Bot, which inspects the items and determines how much fiat or crypto currency you get. You can, also, receive a credit card through a partner bank. The limit of that card will correspond to the value of your stored gold. what do i need to get a loan ?
You need to undergo the KYC procedure. You use your GOLD or gold valuables as collateral. With regards, team GOLDMINT
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Greetings!which data will be stored on graphene blockchain?
Details of the miner rotation, miners’ rewards and incentives as well as details related to Custody Bot operations (e.g., assessment, weight, when allocated and withdrawn). Also stored on Graphene are all details related to GoldMInt’s GOLD transactions. Tell us more about hedging risks?
Commercial producers and gold workers, like miners, jewelers, or the government, tended to use gold options, futures and ETF as hedging tools. Today, a significant amount of investors like to use gold to hedge against inflation or to diversify their investments. In fact, gold became the one common investment of all metals and has a legendary history as commodity and coin. Like other commodities, gold depends on micro and macro economical and political events, so its value fluctuates along with these. GoldMint not only helps you cushion the risk of this volatility but also gives you the option of taking a short position in physical gold bullion, coins or mining stocks. Here are some reasons why investors choose GoldMint: You can hedge your investment in gold using the GOLD token. Doing so protects your gold from bearish conditions. Investors can chose to convert just a portion of their assets or all of it with this GOLD cryptoasset Investors may want to invest in a minimal amount of GOLD to assess whether or not they profit GOLD is based on real physical gold and therefore possesses far more face-value credibility than other cryptocurrencies, including Bitcoin, have. The gold market/ gld returns look promising. GoldMint helps investors hedge their risks and promises more for their investments. How can I get a loan with a golden ring for example?
1. User presses the Open button. The tray slides out. The user places a product in it, which gets loaded into the box. 2. The product put into the Custody Bot machine enters the spectral analysis block. A manipulator forces the product onto scales where it is weighed twice, once in air then in liquid. 3. Once inspection is complete, the manipulator returns the product to one of the compartments inside the Custody Bot. 4. The spectral data and weighting data are fed into a computer installed inside the box. This measurement data is encoded on the blockchain, made public to anyone who wants to see the information. 5. You get a loan in GOLD currency. With regards, team GOLDMINT
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Greetings!why is goldmint platform built on graphene?
The advantages of Graphene compared to Ethereum include the following. It is: Safer - GoldMint blockchain uses its own coins rather than turing-complete smart contracts. More productive - GoldMint is optimized for GOLD transactions. GoldMint is the only ICO that uses this platform, so its platform executes workloads The Graphene blockchain supports PoS.Cheaper - there is no charge for ether commissions.faster and more effectively. what are graphene’s advantages compared to ethereum and other blockchains?
Graphene is cheaper, there is no charge for ether commissions. Graphene, too, is optimized for GOLD transactions therefore its executes its blocks faster and more effectively and it’s safer in that it uses its own coins rather than turing-complete smart contracts. what other projects run on graphene?
Graphene also allows its users other platforms that include:Openledger - exchange Rudex - exchange Satoshi.fund - fund Hubdsp - DSP platform Peerplays - betting platform Steemit / Golos.io - news platform With regards, team GOLDMINT
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Greetings!Describe PoS and why you chose it? Thank you.
Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. Unlike proof-of-work (PoW) based cryptocurrencies (such as bitcoin), where the algorithm rewards participants who solve complicated cryptographical puzzles in order to validate transactions and create new blocks (i.e. mining), in PoS-based cryptocurrencies the creator of the next block is chosen in a deterministic (pseudo-random) way, and the chance that an account is chosen depends on its wealth (i.e. the stake). In PoS cryptocurrencies the blocks are usually said to be forged (in the blacksmith sense of this word), or minted, rather than mined. Also, usually all the coins are created in the beginning and the total number of coins never changes afterwards (although there are some other versions of PoS where new coins can be created). Therefore, in the basic version of PoS there are no block rewards (e.g. as in bitcoin); so, the forgers take only the transaction fees. how are the rewards for mining determined?
According to the amount of MNTs the miner has. what happens if the miner doesn’t have enough computing power to verify a transaction?
The miner can buy more from from other miners on the network. With regards, team GOLDMINT
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Greetings!Tell us more about hedging risks?
Commercial producers and gold workers, like miners, jewelers, or the government, tended to use gold options, futures and ETF as hedging tools. Today, a significant amount of investors like to use gold to hedge against inflation or to diversify their investments. In fact, gold became the one common investment of all metals and has a legendary history as commodity and coin. Like other commodities, gold depends on micro and macro economical and political events, so its value fluctuates along with these. GoldMint not only helps you cushion the risk of this volatility but also gives you the option of taking a short position in physical gold bullion, coins or mining stocks. Here are some reasons why investors choose GoldMint: You can hedge your investment in gold using the GOLD token. Doing so protects your gold from bearish conditions. Investors can chose to convert just a portion of their assets or all of it with this GOLD cryptoasset Investors may want to invest in a minimal amount of GOLD to assess whether or not they profit GOLD is based on real physical gold and therefore possesses far more face-value credibility than other cryptocurrencies, including Bitcoin, have. The gold market/ gld returns look promising. GoldMint helps investors hedge their risks and promises more for their investments. Is MNTP a security token?
No, MNTP tokens are used for ICO only. As soon as GoldMint blockchain is launched, MNTP can be exchanged for MNT used as stake in our consensus algorithm. MNT holders do not receive any passive income. We have a report on MNT/MNTP status from an US lawyer company. This provides us with an opportunity to trade MNT/MNTP on the US market 12 months after ICO. Where is your bounty?
Here you can find all details about our BTT campaign: https://bitcointalk.org/index.php?topic=2091804With regards, team GOLDMINT
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Greetings!Which rights does mnt provide its holders with?
MNT tokens holders are allowed to vote on GoldMint’s platform in proportion to their number of tokens. This means that when changes are made to GoldMint’s platform, MNT token-holders vote on whether or not to accept these changes. They also have a right to validate blocks and get rewards in GOLD. There was something written about API? What is about?
GoldMint plans to develop an Application Programming Interface (API) to regulate GOLD. This will achieve the following: ● E-commerce can use GOLD for transactions. ● Local banks and Monetary Financial Institutions (MFIs) can use GOLD as collateral. ● GOLD can be used escrow for bank accounts and as financial guarantees. How is it burned?
GOLD assets are burned, or destroyed, when physical GOLD is withdrawn from the Custody Bot. With regards, team GOLDMINT
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Greetings!Which data will be stored on grapheme blockchain ?
Details of the miner rotation, miners’ rewards and incentives as well as details related to Custody Bot operations (e.g., assessment, weight, when allocated and withdrawn). Also stored on Graphene are all details related to GoldMInt’s GOLD transactions. What happens if the miner doesn’t have enough computing power to verify a transaction?
The miner can buy more from from other miners on the network. Which rights does MNT provide its holders with?
MNT tokens holders are allowed to vote on GoldMint’s platform in proportion to their number of tokens. This means that when changes are made to GoldMint’s platform, MNT token-holders vote on whether or not to accept these changes. They also have a right to validate blocks and get rewards in GOLD. With regards, team GOLDMINT
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Greetings!How Custody Bot will be linked to a blockchain?
The Airalab Core platform links Custody Bot to the blockchain. We are consulting with them because they have a huge expirience about connecting various bots to blockchain Why don't you use ETH blockchain?
GoldMint’s blockchain, using the Graphene platform will be launched. Advantages of such a choice compared to using an Ethereum private fork are as follows: 1. Safer - GoldMint blockchain uses its own coins rather than turing-complete smart contracts. 2. More productive - GoldMint uses PoS, is optimized for GOLD transactions as there are no other ICOs on the same platform. 3. Cheaper - no charge for ether commissions. 4. The Graphene blockchain supports PoS. What is the use of API implementation?
The Application Programming Interface (API) regulates the GOLD, distributing these tokens to the following entities: E-commerce that can use GOLD for transactions. Local banks and Monetary Financial Institutions (MFIs) that can use GOLD as collateral. The API also regulates the GOLD that is used as escrow for bank accounts and as financial guarantees. With regards, team GOLDMINT
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