Greetings!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. 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. 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). With regards,
team GOLDMINT
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Greetings!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. 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. 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. 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 physical gold will be stored?
Physical gold is locked-up in storage and rated according to its value: Moody’s - A2 and above. Standard and Poor's - A and above. Fitch - A and above. 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!How physical gold will be stored?
Physical gold is locked-up in storage and rated according to its value: Moody’s - A2 and above. Standard and Poor's - A and above. Fitch - A and above. How can icos find gold profitable?
For the same reason as above. Generally, ICOs receive their funding in cryptocurrency which has unpredictable and dramatic volatility. GOLD, which aligns itself to LBMA, can hedge unpredictable money losses after the ICO has launched. 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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_______________________________________________________________ Everything there is to know about Custody Bot as of this day, you can read about in this article!_______________________________________________________________  |
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Greetings!Some people may wonder if they can exchange the gold token with the real gold bars. How are you going to explain this?
The price of one GOLD equals one ounce of physical gold on the LBMA. Applicants who want to trade GOLD for fiat need to undergo GoldMint's KYC procedure. If accepted, the applicant’s GOLD cryptoasset is transferred from his, or her, GoldMint wallet to a special GoldMint account and is converted to fiat. GoldMint sends this fiat to the applicant. So, the price with commissions you receive for buying GOLD is LBMA + 5%, selling - LBMA + 2%. Therefore the way fiat => GOLD => fiat will be 3%. 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. How does custody bot evaluate the assets?
Custody Bot uses the technologies of spectral analysis and hydrostatic weighing to inspect the value of the gold. In the absence of a single standard, a specialist also manually inspects the jewelry before Custody Bot conducts spectral analysis. With regards,
team GOLDMINT
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Greetings!Why can custody bot automate gold valuables assessment?
Custody Bot can replace pawnshops as it is more transparent and almost totally automated. Will there be any auditing of goldmint assets?
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 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 ). With regards,
team GOLDMINT
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Greetings!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. 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. With regards,
team GOLDMINT
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Greetings!what do i need to get a loan?
You need to undergo the KYC procedure. You use your GOLD or gold valuables as collateral. 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. With regards,
team GOLDMINT
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Greetings!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. 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. With regards,
team GOLDMINT
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Greetings!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 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. With regards,
team GOLDMINT
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Greetings!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. 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. With regards,
team GOLDMINT
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Greetings!hi destruct
I have purchased 1000 MNT/MNTP tokens out of 10 million available. this gives me ownership of 1 in every 10000 tokens.
1) How many tokens approx would be needed to mine one GOLD block ? The reward for mining a block would obviously be directly related to a % the total value of the GOLD block mined ? So a more valuable block would be more profitable to mine ?
2) Just a thought here. Would it be at all possible to combine/pool all miners MNT/MNTP tokens together and each miner can then share EQUITABLY in the GOLD mining profits for all blocks mined based on the % of MNT/MNTP tokens they own. Each miner could then receive a % payout on a daily basis or however often you pay out commissions.
3) Currently you do not require purchasers of MNT/MNTP tokens to produce any form of ID. Once operational and you start paying miners commission in GOLD will you then require each miner to provide you KYC/ID personal details ?
4) Will your new graphene blockchain be quantum proof ?
5) Could GOLDMINT possibly set up there own in house exchange for people to trade tokens and GOLD. This would avoid price manipulation on crypto exchanges. For example Vaultoro has their own exchange on their web site.
Cheers )
1) All blocks will be distributed within active miners according to their MNT token stake. That's right. A more valuable block will be more valuable to mine. 2) Commissions are payed instantly after the block is verified. All blocks will be distributed to the stakeholders according of value block, too. But that occur with more transactions verified. 3) You don't need your ID verified for getting GOLD tokens commissions. 4) At first our blockchain will use standard cryptography methods as most of the blockchains nowadays. As soon as powerful quantum computers will appear being available to hack these blockchains we will start implementing quantum proof. But it is not expected earlier than 5-10 years. 5) That's a good idea. We will definetely discuss it before implementing. This is really cool. Will definitely lead to a more stable token.
I am however concerned about securities laws. This is essentially a security backed by gold, which might have some legal implications.
MNT tokens pass the Howey Test, meet all the SEC requirements and can't be determined as securities. Same with GOLD tokens. why would someone buy gold with btc.. gold is the past, bitcoin is the future
Physical Gold will not be losing it's price because it has trust within all people in the world. What is going to happen to the tokens that will remain unsold during the ICO? Maximum supply for the goldmint is 42M right?
All these tokens will be frozen for a year and then sold to private investors for prices not cheaper than on our ICO. $42M, you are right! With regards,
team GOLDMINT
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Greetings!What about GOLD/MNT mining?
To start mining, you just needs to download a program from the GoldMint repository, launch it on your device, fine-tune it and start mining. Consensus algorithm : We use PoS as our primary mining system. In case a user who holds many MNT doesn’t have enough computational power, he can rent computational power from other miners. Miner rotation The amount of stakes depends on the amount of MNT a miner holds. So, if a miner owns 50% MNT, he will be chosen to process every second block. Miner rewards A miner receives a GOLD commission from each processed block. When the block is processed, no tokens are emitted. 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. With regards,
team GOLDMINT
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Greetings!Can US/Singapore citizens participate in the ICO?
Citizens, residents (tax or otherwise) and green card holder of the United States of America or Singapore, or other U.S. or Singapore person are exempt from buying MNT tokens. The term “U.S. or Singapore Person” refers to anyone who lives in the United States or Singapore or to any entity that is incorporated under United States or Singapore law. American citizens living abroad can also be considered “U.S. Persons” under certain conditions. How will be distributed tokens during ICO event?
Release of MNT tokens are done by Ethereum-based smart contracts, specially used for distribution of tokens. 80% of 10 000 000 MNT are released during ICO launch. GoldMint team receives two million MNT tokens, and no more than 500 000 per quarter distributed via a special wallet. Some consultants receive MNT tokens two months after ICO launch. Smart contracts can automatically trade ETH into MNT. The number of tokens to be transmitted to a particular user depends on the sum at the time of its receipt by GoldMint. 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. With regards,
team GOLDMINT
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Greetings!what happens when physical gold is withdrawn from custody bot?
When physical gold is withdrawn from Custody Bot, the corresponding number of GOLD assets are destroyed. what are the costs of custody bot development?
Spectrometer = $5,000-6,000 Scales = $200-300 Internal manipulator = $2,000-5,000 Built-in PC, touch screen, keyboard = $1,000-1,500 Armored box = $2,000-7,000 Installation, adjustment and commissioning = $500-1,500 Total: $10,700 - 21,300 When was the pre-ICO? I haven't heard anything about it.
Our pre-ICO was private. We had only 300,000 tokens each presented to 27 person and 3 venture funds only. You still can join our upcoming ICO. You will be able to buy our tokens using your ETH or BTC. Minimum investment can be 1 MNTP token and $7 equally. We'll open a prior registration at goldmint.io in 2-3 days. You'll be able to register and get access to addresses you'll use to send transfers. With regards,
team GOLDMINT
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Greetings!why can custody bot automate gold valuables assessment?
Custody Bot can replace pawnshops as it is more transparent and almost totally automated. why does gold jewelry need extra examination from a specialist?
Manual inspection is needed each time gold jewelry undergoes inspection, as there is no common standard for this type of commodity. which details of gold valuables examination are sent to the blockchain?
The details of both inspections - i.e., the data results of the spectral analysis and the hydrostatic weighing - are stored in GoldMint's blockchain. The timestamps on the valuable’s acceptance and withdrawal are also stored in blockchain. Custody Bot will be distributed in pawnshops and trade centres. With regards,
team GOLDMINT
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