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The ICO event Moscow conference is happening tomorrow, an event for everyone who's planning to launch their own ICO projects or who'd like to invest into cryptocurrency tokens. GoldMint will be presented at the A6 stand, come by and feel free to ask us anything!
https://icoevent.ru/en_______________________________________________________________  |
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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. 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and incentives as well as details related to Custody Bot operations (e.g., assessment, weight, when allocated and withdrawn).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. With regards,
team GOLDMINT
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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!Which assets can be deposited to the custody bot?
Gold jewelry, small ingots (up to 100 grams) and coins. Does mnt act like a goldmint share?
MNT token does not imply rights to participate in company management of GoldMint and is not a share. 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!Thank you for the article! We'll share it in all our social channels if possible. What makes goldmint different from projects like Brickblock and Minobia?
I see one of them website under maintenance. Another one has really different concept. "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."
Of how much computational power are we talking about?
Can you please give us some more info or some numbers, or examples to understand this better?
Thanx
Not an ultracomputer. A regular PC should be enough but the more MNT tokens you are going to hold, the more RAM you would need. 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 ). 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 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. 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 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. 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. With regards,
team GOLDMINT
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Greetings!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. What are MNTP tokens?
The miner can buy more from from other miners on the network. 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!
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. 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. 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. With regards,
team GOLDMINT
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Greetings!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. 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 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. 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!
Which assets can be deposited to the custody bot?
Gold jewelry, small ingots (up to 100 grams) and coins. 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. What are some of the GOLD applications?
The average fee for storing physical gold is 0,25% from its estimated value a year. With regards,
team GOLDMINT
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_______________________________________________________________
Twitter campaign update
_______________________________________________________________ Dear participants of the Twitter campaign! Thank you for your work. As we promised, at the final stage of the campaign we want to fairly reward the most responsible participants who did not write useless texts to increase their number.
We were asked reasonable questions: why, for example, the author of 14 tweets, not directly related to Goldmint, get more stakes than the author of 7 tweets that can draw attention to the project? We also understand that the reasons for flooding could be very different, and their publication also takes time.
The new system should minimize the number of meaningless tweets for the sake of increasing the number of steaks. We exclude the calculation of individual tweets and move on to assess the overall activity of participants during the campaign. We're still checking your reports. Rules for participants remain the same. All new members have the opportunity to get stakes.
Your stakes will be recalculated according to the following terms:- For 1 week of participation, each active participant receives stakes.
- The number of participants' stakes depends on his activity and the quality of his work.
- The campaign is divided into weeks in the spreadsheet. If a participant joins on the fourth day of the week or later, he gets 50% of the number of stakes per week.
Participant's activity is evaluated as follows:- A small number of tweets and comments: 1 stake / week.
- Average quantity: 2 stakes / week.
- High activity: 3 stakes / week.
- Daily publication of tweets, comments and retweets with personal comments: 4 stakes / week.
- Retweets without comment: 0.5 stakes / week.
- From 25% to 50% of the flood in tweets and comments: 1 stake / week, regardless of their number.
- More than 50% of the flood: the participant loses all stakes in a week.
You can check your tweets to remove the flood. The spreadsheet with your stakes will be fully updated in the near future _______________________________________________________________
Terms of participation in the period of ICO
(starting from September 20)
_______________________________________________________________ - Hashtags #Goldmint and #ICO, as well as a link to our Twitter should be included in each personal tweet and comment.
- You can also add a link to our website in some tweets.
- Tell your followers about GoldMint ICO! Remind them of bonuses, share the latest news.
- You will get twice as many stakes for active participation in the period of ICO.
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Publication of updates for all campaigns is expected in the next few hours! |
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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). 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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