Greetings!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. how can mnt tokens be purchased?
MNTP is initially released via ICO, after which MNTP tokens will migrate to the GoldMint blockchain, using a 1/1 fork. Then they will receive an MNT ticker. in what way will mntp tokens migrate from ethereum to graphene?
MNTP will first be found on Ethereum and produced via its ERC20 interface. Once Graphene is installed, MNTP will be conveyed there and will have MNT name. With regards, team GOLDMINT
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Greetings!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. what are mntp tokens?
MNTP tokens are launched on Ethereum blockchain and are offered for sale during ICO. Later they will migrate to MNT tokens (GoldMint blockchain) to verify GOLD transactions. 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!Can MNT holders participate in GoldMint company management? Is GoldMint a DAO?
The internal MNT token does not give rights to participate in company management of GoldMint and is not a share. MNT tokens holders recieve a right to vote on GoldMint platform proportionally to the number of tokens they hold. This means that in case some changes are to take place within GoldMint platform, MNT tokens holder vote on whether to accept it or not. Is that your model have so-called dividends? Can I have passive income of holding? Explain
The more MNT a validator holds, the more blocks he can validate and add to the chain. As a result miner gets 75% in GOLD equivalent from the commissions for the transactions validated. In case at the moment of block validation the miner doesn’t have enough computational power to validate the block or in case he cannot do this for some other reasons he can be deleted from the White List of reliable miners and will lose the right to accomplish a block. In this case the right to validate blocks goes over to another user who has been chosen by GoldMint algorythm. To become a validator all you need is to download GoldMint Wallet app from the official website and launch it using your GoldMint account. In case a user who holds many MNT doesn’t have enough computational power, he can rent computational power from other miners. Who is the seller of MNTP tokens?
GoldMint PTE LTD company registered in Singapore is the seller of MNT tokens. With regards, team GOLDMINT
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Greetings!Any gauranteed coin won't be dumped when it reaches exchanges ?
We can't guarantee a fast profit to our investors right after our first appearance on exchanges. We guarantee their profit after the development of the product. I see MNTP and MNT tokens here. What's the difference?
MNTP tokens can be found on the Ethereum blockchain. ● Initial emission of MNTP is conducted using the ERC20 interface. ● GoldMint’s blockchain, using the Graphene platform gor GOLD and MNT tokens will be launched after. What are the price expectations? After a month? After a year?
MNT has a limited supply and they are used as stake in PoS (proof-of-stake) consensus algorithm. The more transactions there are within GoldMint blockchain the bigger rewards miners get and the more is demand for MNT. With regards, team GOLDMINT
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Greetings!How can it be both backed by real gold and run on blockchain?
A GOLD token can be issued if only GOLDMINT has a troy ounce of physical gold or ETF available to back it. To back tokens with gold means to provide 100% guaranteed anytime GOLD tokens buyback by GOLDMINT their self. That will provide stable price for these tokens which is in lack on market today. What exchanges should we expect? I need liquidity on my investments.
We meet all the requirements of SEC regulations and our tokens can't be determined as securities. The final decision of listing us on exchanges lays upon exchanges their self. According to all this we will start listing negotiations right after our ICO. The first exchanges to list tokens are usually Liqui, YoBit, Tidex, HitBTC. gold token won’t be listed on any exchange, correct? and let’s say if i want to buy it, given that it requires the ‘kyc’, how and where will you sell your token?
Initially, GOLD tokens will be traded at GoldMint website, the traders will need to pass the KYC procedure which will not take more than 30 minutes. Later on they can be traded wherever according to the terms and conditions of a particular exchange. With regards, team GOLDMINT
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Greetings!how can gold help me hedging risks on the cryptocurrency market?
The price of GOLD is set according to the price of gold at LBMA market. GOLD has gentler volatility than cryptocurrency, so the risks of receiving less for buyback are less than had you used, say, bitcoin to make your transaction. 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. if the gold is damaged or stolen, who will take responsibility for?
The gold we use to back GOLD digital assets is all insured. With regards, team GOLDMINT
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Greetings!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 ). do gold commissions depend on the country/citizenship?
No. Rather, commissions and broker commissions are taken into account in calculating our commissions for GOLD. 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!what can i do with gold assets?
You can use GOLD assets for the following: Exchange fiat to cryptocurrency - Right now the fiat-cryptocurrency exchange market exceeds $400 million. Experts predict that this will reach billions once banks regulate the cryptocurrency industry. Hedge volatility risks - Traders and other cryptocurrency users can hedge their gold commodity with GOLD on any cryptocurrency trading exchange, without leaving that particular platform. Traders can also diversify their trading portfolio with GOLD assets. Payroll unit- Given its low volatility, you may prefer GOLD to BTC and altcoins for paying employees. Because of its low commissions, high speed, and affordability (no extra charges for transborder payments), you can also use GOLD instead of fiat for regular deals. ICO currency - ICOs can ask for GOLD donations instead of regular cryptocurrency funds to hedge the high volatility risks that tend to accompany cryptocurrency. Buy and transport physical gold - You can convert your physical gold into GOLD in any bank that uses the GoldMint blockchain platform. This not only protects cross-country gold transportation but also simplifies the process. how is gold emitted?
The amount of GOLD that is emitted depends on the amount of physical gold and ETF backing that GoldMint has in its reserves. The amount of GOLD in circulation can never exceed GoldMAn's reserves of physical gold. which is the maximum amount of gold emitted?
The amount of GOLD emitted depends on (a) the validation of deal/ details stored in the blockchain and (b) on the authenticity and value of gold inspected by Custody Bot. With regards, team GOLDMINT
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Greetings!will there be any auditing of goldmint assets?
An auditor from an objective TOP 100 audit company checks GoldMint's accounts each month and confirms that its gold reserves tally with its accounts and with its GOLD emission. On top of that, GoldMint has its own GoldMint internal auditor check its accounts several times a month. how can i buy gold?
People who want to trade GOLD for fiat or cryptocurrency need to undergo GoldMint's KYC procedure. You can also get GOLD when you transfer your physical gold to Custody Bot or to GoldMint’s partner banks. 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%. With regards, team GOLDMINT
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Greetings!what is an etf and how can it back gold?
An ETF, or exchange-traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. ETFs offer low-cost diversification, trading and arbitrage options. New ETFs range from several dozen to hundreds in any particular year. They can be used to back GOLD, since there is a high demand for ETFs in the gold market. Top ETFs for gold can be found on ETFDB. 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. could you give us an example number of the cost storing gold? (e.g. in the usa or switzerland)
The average fee for storing physical gold is 0,25% from its estimated value a year. With regards, team GOLDMINT
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Greetings!What 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). Gold token won’t be listed on any exchange, correct? And let’s say if i want to buy it, given that it requires the ‘kyc’, how and where will you sell your token?
Initially, GOLD tokens will be traded at GoldMint website, the traders will need to pass the KYC procedure which will not take more than 30 minutes. Later on they can be traded wherever according to the terms and conditions of a particular exchange. Is that your model have so-called dividends? Can I have passive income of holding? Explain
The more MNT a validator holds, the more blocks he can validate and add to the chain. As a result miner gets 75% in GOLD equivalent from the commissions for the transactions validated. In case at the moment of block validation the miner doesn’t have enough computational power to validate the block or in case he cannot do this for some other reasons he can be deleted from the White List of reliable miners and will lose the right to accomplish a block. In this case the right to validate blocks goes over to another user who has been chosen by GoldMint algorythm. To become a validator all you need is to download GoldMint Wallet app from the official website and launch it using your GoldMint account. In case a user who holds many MNT doesn’t have enough computational power, he can rent computational power from other miners. With regards, team GOLDMINT
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Greetings!What can i do with GOLD assets?
You can use GOLD assets for the following: Exchange fiat to cryptocurrency - Right now the fiat-cryptocurrency exchange market exceeds $400 million. Experts predict that this will reach billions once banks regulate the cryptocurrency industry. Hedge volatility risks - Traders and other cryptocurrency users can hedge their gold commodity with GOLD on any cryptocurrency trading exchange, without leaving that particular platform. Traders can also diversify their trading portfolio with GOLD assets. Payroll unit- Given its low volatility, you may prefer GOLD to BTC and altcoins for paying employees. Because of its low commissions, high speed, and affordability (no extra charges for transborder payments), you can also use GOLD instead of fiat for regular deals. ICO currency - ICOs can ask for GOLD donations instead of regular cryptocurrency funds to hedge the high volatility risks that tend to accompany cryptocurrency. Buy and transport physical gold - You can convert your physical gold into GOLD in any bank that uses the GoldMint blockchain platform. This not only protects cross-country gold transportation but also simplifies the process. How is gold emitted?
The amount of GOLD that is emitted depends on the amount of physical gold and ETF backing that GoldMint has in its reserves. The amount of GOLD in circulation can never exceed GoldMAn's reserves of physical gold. 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!How can MNT tokens be purchased?
MNTP is initially released via ICO, after which MNTP tokens will migrate to the GoldMint blockchain, using a 1/1 fork. Then they will receive an MNT ticker. 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. 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. 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. Чтобы включить программу чтения с экрана, нажмите Ctrl+Alt+Z. Для просмотра списка быстрых клавиш нажмите Ctrl+косая черта. 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!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. What do i need to get a loan?
You need to undergo the KYC procedure. You use your GOLD or gold valuables as collateral. 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!How GOLD is connected with real gold?
GOLD is a crypto asset issued by GoldMint that uses the current price of gold set on the LBMA exchange at the time of sale. ● Equal to one ounce (31,1035 grams) of gold (999 quality) ● Shards into 100,000 parts. ● Commissions are given in GOLD. Information is transmitted to the blockchain ledger about the number of ounces of physical gold or ETFs owned by GoldMint. ETF is bought on he stock exchange NYSE, Arca and subsequent information is publicized on GoldMint’s decentralized blockchain, making it transparent and open to all members. Statements are received from the depositary (electronic or printed). All physical gold owned by GoldMint exists in the following forms: a. Manufacturer-certified bullions b. Gold coins c. Gold jewelry d. 999 quality granules, stamped by manufacturer what is gold?
GOLD is GoldMint's cryptoasset. It’s value is aligned to the current LBMA price of gold. One GOLD equals one ounce (31,1035 grams) of gold (999 quality) on the stock exchanges + 5% commission (max.) how is the gold asset backed by gold?
All of GoldMint's GOLD is backed by the reserves of physical gold or ETF that GoldMint has in its reserves. If there's not enough gold in GoldMint reserves, the company buys extra gold or ETFs in Switzerland. With 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. What about GOLD exchange rate?
Emission :1 GOLD = cost of 1 ounce of gold on stock exchanges + 5% commission for fiat-GOLD-fiat – no more than 4% Buyback: 1 GOLD = cost of 1 ounce of gold on stock exchanges + max. 5% commission for fiat-GOLD-fiat– no more than 4% What is ETF?
ETF (Exchange Traded Funds) - An ETF, or exchange-traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. The three most popular ETFs are “Spiders” (ticker (NYSEARCA:SPY)), “Diamonds” (ticker (NYSEARCA:DIA)) and “Qs” or ""Qubes"" (ticker (NASDAQ:QQQ)). Top ETFs for gold can be found on ETFDB . The commission for the management of a portfolio of gold is 0.2-0.8% per annum, depending on the volatility of gold and the inflow / outflow of investors. 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 ). Commissions and broker commissions are taken into account in calculating our commissions for GOLD. 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!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). 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. With regards, team GOLDMINT
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