LMAO. Allow me to summarize it. So, after you're so insistent on asking me to watch the video because it's, "explained in great details", of which I asked numerous times to explain it here again in writing instead, that you kept refusing, that lead to me taking a middle way by giving you benefit of doubts and watch your videos, of which the explanation is extremely vague, that I inquire and been waiting for your reply for two weeks, you decided that your best answer is the very evasive one of, "Nobody can clear your doubt. So just watch us"? Yeah, really convincing and doesn't sound doubtful at all. Or is it also double-serving as a way to help yourself from the lots of questions about to come from me that people doing their due dilligence prior to considering investing in your project will find?

For example, other than the clearly unanswered questions above that each of us can conclude ourselves what it implies, let's talk about... Azbit, that on the opening post of this thread [dated 25th of June] you said that listing on it is incoming, that one month later you announced that it doesn't list tokens. You didn't know about this prior to submitting listing request?

Or gold bar. The very one that become your selling point, that you said you'll buy every month, yet months has passed and you'll still haven't buy one because... there's a minimum purchase amount. You did not know that too? When you said you'll buy every month, disregarding the current price, you did not do any research or made a projection of how much you'll earn every month and whether it's sufficient to buy the bars?

Or... still related to point above about gold bar, your very own telegram channel; A ghost town, IMO, with barely any organic discussion other than your bots talking to itself, welcoming people. Do I understand correctly you're asking and intending to use the gold reservoir to be listed?



I thought that wallet is exclusively for gold to give your investor a sense of security? You have your marketing wallet for it, so why even considering to take from a wallet that's specifically designated as the foundation of your project? One may argue that it's a sign that you're quite easy to be swayed, don't you agree?

Talking about swayed... didn't you say on your channel that you refuse to take a shortcut to be listed? So why the poll? With the gold reserve wallet itself, if I may add. How do we know that you'll stick to your words in the future? Given you keep showing inconsistencies and contradicting yourself throughout the entire length of this discussion and your youtube explanation. How should these characteristics of your project evoke confidence in your investors?

Gold has indeed passed the test of time, but not your coin, if someone is worried about what is to come and they do not want to take a risk by holding their fiat then they might as well buy gold and hold it themselves.

By letting others hold their gold and instead by just holding a promise of such gold being stored somewhere else they are taking a massive risk for no gain to themselves, except yourself, and since that is the case then it will take you a massive amount of effort to convince other people to hold your coin.

You do aware that you can answer point number 5 and 6 along with this post, right? Not sure why you don't do it. So how about this? Point me to the time where you explained in great detail for what I asked in those points, and I'll reach you back with the complete discussion addressing the other point of reinstate vs. stabilize

Gold has indeed passed the test of time, but not your coin, if someone is worried about what is to come and they do not want to take a risk by holding their fiat then they might as well buy gold and hold it themselves.

By letting others hold their gold and instead by just holding a promise of such gold being stored somewhere else they are taking a massive risk for no gain to themselves, except yourself, and since that is the case then it will take you a massive amount of effort to convince other people to hold your coin.

1. Let's drop point number 1 as we're chasing tails on this topic where the other topics are more intersting to be pursued.

2. For the record, yes, I understand that the value is in gold, where the use of USD is to reflect the price of certain weight of gold. That said and with your explanation, assume you're forced to sell off all of your gold reservoir, what next? Your token equals to 1 gram of gold [just a random example] that equals to 50 USD? This correlate to point number 4, as below,

4. To say a scenario is impossible in crypto is rather dogmatic, isn't it? Nothing is impossible in crypto. Many currencies --that's ironically also the ones you use as your basis and your marketing point-- assure their holders that they're safe. With no intention of providing an apple-to-apple basis but for a mere illustration, UST for example? Or BNB? Or... ones that strike better, all of those dumped and failed token in the past that assures their holders the same, that the scenario of being dumped is not possible because they're something-backed? I can mention a lot and perhaps spent eternity just mentioning cases. So yeah, I have to say that stating the scenario where your token being suddenly dumped is impossible is borderline dogmatic, or at the very least, naïve.

That opinion aired and stated, I am stepping into the matter being discussed in this point, the scenario where your token being completely dumped. You're saying that based on your optimistic calculation, you can only recover about 30-40% of its initial value? So applied to that scenario provided, where initially 100 USD is 150m GRC [GRC USD = 6.67 x 10^-7 or 0.000000667 USD] and it plummeted and dumped 99% of its initial price [again, if you say this is impossible, I'd advise you to take a walk in CMC or CG and see ATH vs ATL of questionable coin] so the new rate will be 100 USD for 15b token^[1], you can only recover 40%, so it's like... 9.33 x 10^-9 or 0.0000000093?

The numbers are not important and can be ignored to avoid confusion. The bottomline is, you can only recover approximately 40% of initial price suppose the token got dumped? And this is a scenario when the price was dumped 99% or was it a calculation based on 50% depreciation? How is this a sense of security?

Moving further, you pump it back as you promised, because this is the security of your token, your assurance that upon a price crash, you'll liquidate the gold to buy back and drive price up. And people know about this, they've anticipated it, so when the price bounced by the liquidated gold, though can't be exactly to it's price before because as you stated, your reservoir will only be able to boost it back to 40% of its initial , they dumped the rest of their token soonest possible because they know price won't go back up as their reservoir, i.e. their safeline, has been completely depleted. Yes, the dumped token will generate a 2% tax that'll be allocated for gold next month. But they cycle begin again and again and again until that 2% is for a minuscule amount of gold. What do you propose? How is this still a sense of security?

5 and 6. Much that I like to assume that your words are inconsistent because you initially said you won't have a legal body, that you don't trust bank and govt. and now you said you'll built a legal body, and that waiting this whole "global power dynamics shift and the world is more decentralised" probably won't happen soon and will take years, if not decade, and most likely your project has ceased to exist before then [either by scenario number 4 or people found better project and lost interest in yours or other reasons], and so on and so on, I prefer to say I probably didn't have a good grasp of your thought. But, as I said, not many people --me included-- have the luxury or the urgency or the need to sit around for hours sifting through your monolog to find the exact explanation, you can help us by point us out to the video explaining exactly these part, down to the minute, from what time to what time, and I'll give my best to spare my time listening to it.

One interesting point that I'll put here as a side note for my own future reference, in case this is not covered on your self-proclaimed "explained in great detail", how do exactly the global economy being monopolized by USA affect your company's legal status in Australia? Each country has their own regulation for legal bodies, irrespective of US govt. power, the downfall of U.S. of A won't likely suddenly make govt. in Australia, or their neighboring countries to be suddenly more decentralized or centralized. I don't think Australia will suddenly more proactive in adopting or suppressing gold-backed crypto because USD is losing its power.

---

^[1] I made an error on previous post by saying 300m because I hastily use calculator to count it by adding 99% to the equation instead of calculating the real amount, i.e. 1% of the initial price, 100/150m x 1/100]

Hmmh Gold-backed currencies with passive income wow So who is keeping the Gold Storage and why is the paasive income included Is the reserved gold going to be traded to make profit and who is trading it This just like something that doesnt make sense at all Like a plot of soon to be bad movies

1. I actually gave them a thorough read, quite thorough that the inconsistencies in your explanation throughout this discussion baffled me. The very post I quoted for example, "Gold price is very stable and anytime for purchase is a good time, unless the price has risen significantly" which one is it? Stable that you can buy at anytime, that any fund accumulated should be transformed into gold, or that it has a possibility of significant appreciation [and with it, a depreciation too] which means we'll need an educated guess --where one of the means is through macro economics-- and buy them at a correct time?

2. Just to be sure we're on the same page before stepping further, 1B GRC equals to 1,300 USD worth of gold is because you're currently possessing 1,300 USD worth of gold? This rate will change in reflect to the gold reservoir you have next month, like, it'll become 1B GRC equals to 1,300 USD worth of gold?

4. Oh, pardon me, please point me out to these numbers and I'll humbly apologize for the oversight. Certainly you're not referring to the mention of 2%? Because I am quite confident anyone reading these dialog of ours will easily understand that I asked for --and this has been made clear-- a use case, as in, suppose your price depreciated 50% from today's rate, how will the gold kick into action and how will it stabilize price? We're talking numbers here. If I may help you, here, we can use this data I pulled from your web,



so suppose tomorrow the price of GRC plummeted 50%, what used to be 100 USD equals to 150 million of GRC, it now equals to 225 million of GRC. How will the gold reservoir kick into action and stabilize the price back to 150 million? And let's not stop there, we should assume the worst too while we're at it. Afterall, you're proposing a sense of security, not the false one. Let's also assume an ATL and massive dump scenario, the price depreciated 99%, so 100 USD equals to almost 300 million of GRC.

5 and 6. These points might be connected through the same root of problem: that I am not watching your youtube. With no intention to be rude, I have no time to watch 1 hour [and that's just 1 video] of explanation while I have other things to do [I really am currently swamped, I am not trying to be a snide here]. It's not like reading where I can do in silence while waiting in line or wait for someone, or in between the quiet morning with my coffee, I don't bring my headset all the time, and as I respect public privacy, I certainly won't disturb them by playing your explanation video through my device's speaker, and I like my morning as quiet as possible.

So, an explanation in writing is very much welcomed. I am more than happy to "listen" to that explanation of yours if you can provide a transcription of it. Not sure why this should be asked on the first place, given lots of people shared my issue, an explanation this crucial should be easily accessible, preferably placed on whitepaper. Or... you can do something easier by just tell me in brief what's your explanation is about and how exactly can you issue credit card and erect a banking entity without legal body.

1. I actually gave them a thorough read, quite thorough that the inconsistencies in your explanation throughout this discussion baffled me. The very post I quoted for example, "Gold price is very stable and anytime for purchase is a good time, unless the price has risen significantly" which one is it? Stable that you can buy at anytime, that any fund accumulated should be transformed into gold, or that it has a possibility of significant appreciation [and with it, a depreciation too] which means we'll need an educated guess --where one of the means is through macro economics-- and buy them at a correct time?

2. Just to be sure we're on the same page before stepping further, 1B GRC equals to 1,300 USD worth of gold is because you're currently possessing 1,300 USD worth of gold? This rate will change in reflect to the gold reservoir you have next month, like, it'll become 1B GRC equals to 1,300 USD worth of gold?

4. Oh, pardon me, please point me out to these numbers and I'll humbly apologize for the oversight. Certainly you're not referring to the mention of 2%? Because I am quite confident anyone reading these dialog of ours will easily understand that I asked for --and this has been made clear-- a use case, as in, suppose your price depreciated 50% from today's rate, how will the gold kick into action and how will it stabilize price? We're talking numbers here. If I may help you, here, we can use this data I pulled from your web,



so suppose tomorrow the price of GRC plummeted 50%, what used to be 100 USD equals to 150 million of GRC, it now equals to 225 million of GRC. How will the gold reservoir kick into action and stabilize the price back to 150 million? And let's not stop there, we should assume the worst too while we're at it. Afterall, you're proposing a sense of security, not the false one. Let's also assume an ATL and massive dump scenario, the price depreciated 99%, so 100 USD equals to almost 300 million of GRC.

5 and 6. These points might be connected through the same root of problem: that I am not watching your youtube. With no intention to be rude, I have no time to watch 1 hour [and that's just 1 video] of explanation while I have other things to do [I really am currently swamped, I am not trying to be a snide here]. It's not like reading where I can do in silence while waiting in line or wait for someone, or in between the quiet morning with my coffee, I don't bring my headset all the time, and as I respect public privacy, I certainly won't disturb them by playing your explanation video through my device's speaker, and I like my morning as quiet as possible.

So, an explanation in writing is very much welcomed. I am more than happy to "listen" to that explanation of yours if you can provide a transcription of it. Not sure why this should be asked on the first place, given lots of people shared my issue, an explanation this crucial should be easily accessible, preferably placed on whitepaper. Or... you can do something easier by just tell me in brief what's your explanation is about and how exactly can you issue credit card and erect a banking entity without legal body.

You expect me to believe this nonsense about marketing a multi-billion dollar asset costing nothing, while in 2021 SHIB was being advertised all over tik tok and YouTube, and that you got your information from the developer of SHIB himself? All successful projects have a marketing budget, that's what differentiates successful projects from non-successful ones. The difference is having money for community promotion.

Can you confirm your information that you were told this by the developer himself? I can also say that I talked to satoshi in 2008

I won't say "wow" because this project is not the only crypto project backed by gold (I mean I've come across several times). I suggest that you innovate by offering some advantages that other projects don't have, that way this project will attract a lot of investors' attention. apart from all that i am quite interested in crypto projects backed by gold.

Let's see how the forum and the market will react on your project. I see that you are confident with your project but people won't be contented in that, they need results and product that seems profitable. If you are advertising your project as a high risk - high return project, it sounds sketchy to be honest, it's like a shitcoin way of advertising. It's exactly how thise shitcoin advertise their tokens. Let's see how your project develops over the time and if you can make a significant impact to the market given that your project concept is backed by gold.

Let see. Just do it first mate, Im not judging you for all the project sake. Its gonna be shown if its really have potential. Actually dont mind the liquidity itself, if you arent worried. Pretty sure that you spend your own money on this, but be prepared to lose more since developing a project in crypto doesnt come cheap if you are dead serious about innovation especially you are relating your project with gold back currency.

Oh so are you planning to have this documented or visible on the public too? Like purchase order and the facility reveal? I think thats a lot of money to spend, yeah definitely will need to wait for that progress to see the full dedication first.

You dont have a team working on this? Only you, how can you possibly make this successful alone.

Of course, they got there for free Shiba Inu allocated very big money for the promotion of their project in various social networks, and even in tik tok. Memcoins are becoming famous for only one reason. Because someone gives a lot of money to promote this coin in the community and mentions about the coin goes viral. Nothing is free. Influencers, bloggers, and other opinion leaders never work for free. The fact that many people found out about Shiba Inu is precisely the result of marketing, or rather the cost of marketing. Judging by where SHIB is now, we can say that the costs have paid off in full.

I'm not saying that all projects that run on DEX are useless. That's not the point. The point is that most projects that start with DEX end up there, too. These projects can contain a unique concept, a great product and other useful features. The problem with such projects, for all their usefulness, is the lack of funding. Without funding, any project, even with the most useful functions, is doomed to the fact that it will have weak support from investors, and therefore will have low liquidity. This is what we see with tokens that are listed on DEX and nowhere else. At the same time, a completely useless project can have a huge capitalization and be popular with investors, if this project has a budget from the beginning.

I'll make it short as you seems talking in circle.

1. Deflecting. The initial reason brought was to question whether you have the necessary knowledge and/or familiarity --or, "the experts" in my words-- in macro and micro related to buying those golds. We're not talking about macro and micro economics of savings. Let's continue discussing this further.

2. Denial. The initial reason this topic being discussed was because it is revealed that your project misled people. Your project was not a gold backed token, it's an invested-in-gold token, of which you seemingly then try, at least from my opinion, to deflect it by inventing a roadmap where at one point you'll turn your project into a gold-backed token, though... [continued to point number 3]

3. Denial --for the reason stated above-- but acceptable. Yes, a project should strive to evolve based on criticism.

4.  Deflecting. I asked for a use case scenario, numbers. It is not provided. Please revisit this matter.

5. Deflecting, again. I asked how exactly you'll issue credit card and erect a bank while you're against the idea of being legally bound and thus, incorporate yourself. Please explain more.

6. I don't even have a word for this. I am sorry if I have to be blunt, but you do aware that this sounds very stupid, right? You said that your intention is to, "to establish independent storage solutions aligns with the objective of reducing reliance on centralized entities and ensuring the security of the underlying gold reserves", and the proposed idea is by asking people to rely on you to keep their assets? A completely independent individual, emphasize on individual, single person, not bound by any legal matter, partner, or responsibility to any governing body other than the celestial being and his inner-self? How could this an upgrade from the current system and reducing centralization?

Crypto currency backed by gold is indeed a good project. But my question here is how can all of this be trusted and transparent? And speaking of hype and community, to be honest I still haven't found any community for your project (let me know if I missed one). Because if a project has built a solid community base, it's only a matter of time for the project to enter the big market.

I agree, there are some projects which start their way on DEX and end their way on Binance. For example, PEPE project made such way just recently and it took only 1 month to do it. This is an incredible result. We are talking about individual cases that break the standard perceptions, but if you look at the whole situation, many projects that start their way on DEX, they end up there, or go to CEXs, which are little-known compared to those CEXs that we are used to hearing about.

Point number one. I am not quite sure how you misunderstood me when I am talking about the macro and micro involved on the decision making, I am referring to the economics involved behind purchasing gold, and instead you're talking about the macro and micro involved on savings. I also failed to understand how you perceive the corelation between price of gold and USD, and how you justify that "The faster we can purchase gold is better, since every day USD price can drop significantly." given that --and backed by studies-- inflation are proven to have small effect to the price of gold. Further, your statement that USD price can drop significantly also bear a strong indication of wrong argument and cluelessness, a lack of understanding on the field you're about to undergo and ask people to trust their fund with, given The Feds declared they'll increase their interest rate twice this year, and history shows that the increment of their interest rate will be followed by the strengthening of their currency. So, currently, reflecting from prior behavior, every day USD price can increase significantly.

Point number two, I believe anyone reading this understand that the the definition was served to give context of gold-backed currency vs. invested-in-gold "currency", and hopefully you find it useful as you're seemingly lacking the knowledge of a gold-backed currency yourself. Well, partially. No one asking you to set a fixed price on gold. No one can lock the price of gold. Gold-backed currency means each printed money reflecting a predetermined rate of gold.

Though "internally" your goal bears resemblance to the basic application of gold-backed currency where certain unit of currency reflect to certain unit of gold, thus "in the future" your token holders can exchange a fixed certain unit of GRC to gold; And surely you're meaning to say certain amount of token represent 1 gram of gold? One gold coin is not a quantitative measurement.  Token-rate-against-other-coin wise, you missed the point very greatly. Seen from other currency [of which we stand and use it as the basis of our argument, given we're talking about your price stability] it is the price of the currency that reflect the rate of the gold, when gold price worldwide rises, the currency appreciated against other currencies. If gold price gets lower, the currency got depreciated. If my point made zero sense to you and perceived as a straw man argument, then may I suggest that perhaps you don't understand it?

While we're at it, regarding your goal and roadmap, where's exacly this plan of changing your system into gold-backed coin? I can't find it anywhere, though I've read your roadmap several times. More about your roadmap on the next paragraph.

Point number three. It is really nice that you're talking numbers. Let's convert that into a case for the sake of illustration. Assume your token price drop, let's say, 50%, can you give us in numbers and data of how your gold reserve return the price to it's current value? That's the sense of security you're offering, is it not, that the price is secure?

Point number four, and this is the most interesting, IMO, as I think this is the biggest contradicting statement you made. You said on your last paragraph that can be summarized into, you don't trust government, you don't trust banks, and on your youtube video, which you summarized yourself here, you also refrained from incorporating your project or take any legal form so that you're not bound by anything; you said and I quote, "That way I'm not legally binded." Let's revisit your roadmap, I screenshotted both page to show all of us that you didn't specify any plan to get to a situation where certain amout of your token will be exchangable to one "coin" of gold, but the point I'd like to emphasize is on phase 3 [the 15/15 page is also deliberately made visible to show that I've reached the end of the page and there's no other roadmap].



How... exactly will you issue credit card without legal body? And the possibility of opening a global bank is ironic, isn't it? Given you don't trust banks, let alone the mystery how you'll erect a legal bank without incorporating yourself.