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Interesting concept -- Looking forward to Auric.
I had a doubt :: When you say that it is backed by Gold, what does it actually mean?
Will its price always be that of the price of Gold?
Firstly, thank you for your time and your query. We believe your question is fully answered in detail in our white paper, but briefly it means that each Auric issued has an intrinsic value of 0.001oz of gold. In other words, it has a tradeable value at that level. That would vary only as the gold price itself varied. The way that is structured is explained in the white paper under the sections 'Gold Backing - Functionality and Usage' and 'Auric Gold Store And The Auric Market'It ensures that Auric launches with value behind it, it ensures it is protected against potential falls in the short and medium term, and additionally it gives another method of trading out of crypto should the holder so wish (please see 'Utilising The Auric ICO For Asset Class Switching' in the white paper for more on that) We hope this addresses your query, and thank you for your early interest. Kindest Regards
Auric Communicationsll Thanks for such explanation, i am looking forward some basic, will you stock Gold against each token you sell. how the economics of token will really function? I would read their white paper it has all the answers. but ico is finished anyway now so you would have to buy at exchanges! |
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Quick question, do you peg the price only on the $ value or in ETH?
I‘m asking, because as the price of ETH is dropping and it may not stop here, 1.5 ETH will therefore give us much less tokens in the sale then originally, correct?
Thanks
They set the price based on gold price in dollars each day, then calculated that in terms of BTC or ETH at that time. You are correct that you would get much less Auric now for ETH that when the ICO started. ETH is finished. I doubt they would even accept ETH now if the ICO was about to start now! But it actually doesn't matter now because the ICO is finished, there are no more coins for sale until launch so you would have to buy from exchanges then and who knows how much they will be then! I got mine for around $1.19 each. |
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Looks like a solid project, reading the whitepaper right now.. Curious how this one will end, good luck team !
you're too late, ICO is more or less finished! |
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I have to admit I own a figure amount of Auric. And not bothered at all because they've already gone up in gold value since I bought them, regardless of what happens in the currency value at launch.This is what people who haven't invested in this are missing. As an ICO investor in particular, it's a no-brainer.
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Yep, last call for Auric in the ICO. Next stop, pay more for them at launch if you don't have some haha.
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Just taken a purchase order for 700,000 Aurics. Took even us by surprise, and we've been processing some decent sized orders since Saturday. Further update tomorrow, but the Auric ICO is, as it stands, rapidly closing on a fast conclusion.
Kindest Regards
Auric Communications
Glad I bought in your flash ICO last month. Auric is going to disrupt. |
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ICO Update: Day 2
We are pleased to announce that purchases continue apace - we have now sold nearly 3 million of the 7,200,000 Auric coins available. Our systems are processing and handling the payments efficiently and buyers continue to receive their coins in a timely manner.
We have now almost caught up with the backlog from the initial surge of purchases when the ICO started yesterday, and we are grateful for everyone's patience during that period! We are ready for some larger buys tomorrow when the working week begins, and will keep everyone updated as to the progress of the ICO.
Kindest Regards
Auric Communications
The rate they are going I've purchased some more just now. These could be snapped up by institutional investors tomorrow and I dont want to take that chance. |
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Auric is going to be massive - for me to break into my bitcoin stash which I haven't touched since 2014 says it all really. Most bought of what I wanted in the flash ICO but I'll dip into it again for sure once the ICO proper starts next weekend  You and me both along with a lot of others!!! Can't wait for it to launch into this stagnant market. Perfect timing for a coin that works the way it does. People should remember about the quadra blockchain they're using. I know they don't call it a blockchain, but anyway. free transactions and scaleable is everything that bitcoin and most of the others fall down on. Go Auric. |
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Just received a pretty thorough report emailed to me from Auric regarding the flash ico, the money they took in, how it went through to gold, updated financial projections etc etc. Unexpected and just reinforces the quality behind this company and their currency. Glad to have bought in early, but lets get the main ico done and all the Aurics sold so we can go to launch as soon as possible.
Got one too, must be going to all the Flash ICO investors. Actually makes me wanna put more in when the main ICO comes around next weekend, not that I wanna sound greedy or anything haha. |
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Seems that you are really new here in crypto. By any means you are not the very first project to have the gold backing. Did you know about Xaurum? They are one of those who are gold-backed projects. And so many others. But most of them were scammers and dead already. But claiming to be the first, I think is not right. Do your research first.
Perhaps you didn't read their white paper and/or understood it. I invested in their flash ico yesterday where they offered a small percentage of the total amount for sale early, and I made sure i understood it thoroughly before putting my money into it. They're the first to assign a gold value to each coin AND give you the option to trade X amount of auric coins for actual gold anytime after launch. After yesterdays sale, by my rough calculations of the gold price they already have somewhere close to $1M in gold accounts now against the coin issuance and the main ico is still to come. Yes ive seen others with so-called gold backing but Auric is quite different, imo anyway. |
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Have sent in my order, not messing around with delaying on this one
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They're on telegram ive messaged them a few times over that
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Auric team, can you please tell me how much of the main ICO is likely to sell out quickly in september? I know why you're doing the flash ico but how much of a risk is there of the main one going that quick, really? just trying to get a handle on the demand and timeframes, stuff like that.
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OK so now I understand they're updating the site on Friday for the flash ico no wonder I couldn't find the link. am impatient to get my Eth off my hands before it falls any more haha
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I keep on checking the website but no link to the flash ico page yet
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Absolutely joke, scam. Unbelievable. And I'm sure DC don't know about it either...obvious copyright breach here.
Hope they have good lawyers at batman coin, I'm going to drop DC a little email now linking to their website!
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yeah, with the gold value on each coin this is probably the only alt that is safe to be in at the moment haha. Obviously I wish I'd got out of Eth and the rest of my alts and moved to bitcoin now, but will now be transferring most of them to this on Saturday, who wants to be holding Eth when the chairs stop moving? Not me.
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OK I'm in for that, will be cool to get mine bought early and have it out of the way before the mad rush on the main ICO.
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An important update for you all - unfortunately it looks like Auric is going to experience a large amount of high volume purchases from institutions at our scheduled ICO start date of September 1st. We say this as two more investment banks have contacted us this morning enquiring about volume limits and precise start times for the ICO.
Most companies running ICOs wouldn't care about it as all they want is to sell to their hard cap of cash and/or coins. However, we really don't want all the Aurics in the hands of the banks if we can avoid it. As an open and unrestricted sale we are somewhat limited in what we can do to combat this, but we have called an urgent meeting later today to try and brainstorm a solution to help small and medium investors.
We will issue an update later today or tomorrow - you can trust us to do all we can to avoid the scenario of an institutional grab of the entire Auric supply.
Kindest Regards
Auric Communications
I work in that industry and am not surprised. Sharks always sniff out such things. Glad you are not forgetting your smaller investors. |
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Im speaking to some colleagues at work today and advising them to join Auric even if just for a few weeks and some quick profit.
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