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Author Topic: [ANN] Xaurum [XAUR]  (Read 179652 times)
watuba
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July 21, 2016, 10:38:38 AM
 #141


1g 999.9 GD Nadir goldbar costs 54,80$ (including storage and insurance),
BTC = 661$;

You get 2.27093139107 XAU * 8000 = 18167.4511286 XAUR and 661$ of gold is bought for the commonwealth (11.6 g) so the ratio of gold to xaurum increases.

Okay, my math and understanding was way off!  So can you tell me what % of my BTC would be backed by real gold if the RICO ended right now, and I had invested BTC in it?

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kaicrypzen
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July 21, 2016, 10:43:10 AM
 #142

BT
Xaurum RICO begins

At the moment xaurum price is 454,13$ , the average price from the announcement to today, that will be used for RICO minting was determined as 428,4$. This means, according to the Xaurum coinage formula, the minting price during the RICO would be 291,07$ for old XAU, considering the splitting, this means the minting price of new xaurum will be 0.03638375$ per XAUR.

According to this and the calculation tables, for every BTC I invest worth ~$650, I will get XAUR at the rate of $428.4 per 8000, so ~12138 XAUR/BTC.  This will be used to buy gold, but at the base rate, which is 2.26g/XAU.  This means I'm getting $123.85 worth of gold for every $428.4 invested.  Or ~$188 of physical gold backing each $650(1 BTC) worth of investment.  Is this true or is my math incorrect?

1g 999.9 GD Nadir goldbar costs 54,80$ (including storage and insurance),
BTC = 661$;

You get 2.27093139107 XAU * 8000 = 18167.4511286 XAUR and 661$ of gold is bought for the commonwealth (11.6 g) so the ratio of gold to xaurum increases.

2.27093139107 XAU comes from 661/291.07 (BTC price divided by minting cost), minting cost is actually what costs an investor to mint a XAU (you invest 291,07$ and you get 1 XAU).

If the price of 1g of gold is 54.80$ then 661$ would buy 661/54.8 = 12.06g. Can you please explain why you mentioned 11.6g?

Can you also please elaborate more on:

so the ratio of gold to xaurum increases.

Thx.

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Aurum Project
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July 21, 2016, 11:54:09 AM
 #143

BT
Xaurum RICO begins

At the moment xaurum price is 454,13$ , the average price from the announcement to today, that will be used for RICO minting was determined as 428,4$. This means, according to the Xaurum coinage formula, the minting price during the RICO would be 291,07$ for old XAU, considering the splitting, this means the minting price of new xaurum will be 0.03638375$ per XAUR.

According to this and the calculation tables, for every BTC I invest worth ~$650, I will get XAUR at the rate of $428.4 per 8000, so ~12138 XAUR/BTC.  This will be used to buy gold, but at the base rate, which is 2.26g/XAU.  This means I'm getting $123.85 worth of gold for every $428.4 invested.  Or ~$188 of physical gold backing each $650(1 BTC) worth of investment.  Is this true or is my math incorrect?

1g 999.9 GD Nadir goldbar costs 54,80$ (including storage and insurance),
BTC = 661$;

You get 2.27093139107 XAU * 8000 = 18167.4511286 XAUR and 661$ of gold is bought for the commonwealth (11.6 g) so the ratio of gold to xaurum increases.

2.27093139107 XAU comes from 661/291.07 (BTC price divided by minting cost), minting cost is actually what costs an investor to mint a XAU (you invest 291,07$ and you get 1 XAU).

If the price of 1g of gold is 54.80$ then 661$ would buy 661/54.8 = 12.06g. Can you please explain why you mentioned 11.6g?

Can you also please elaborate more on:

so the ratio of gold to xaurum increases.

Thx.
You are correct, there was a mistake, it is 12.06 g. We've corrected the post.
Xaurum ratio is determined by gold reserves/Xaurum money supply, because the gold reserves increase more than the money supply, the base value of all xaurum grows.


1g 999.9 GD Nadir goldbar costs 54,80$ (including storage and insurance),
BTC = 661$;

You get 2.27093139107 XAU * 8000 = 18167.4511286 XAUR and 661$ of gold is bought for the commonwealth (11.6 g) so the ratio of gold to xaurum increases.

Okay, my math and understanding was way off!  So can you tell me what % of my BTC would be backed by real gold if the RICO ended right now, and I had invested BTC in it?
This can't be determined in advance, as it includes empirical variables. The minting process will determine exactly that.


We're currently in the process of minting, it will take a few hours.


... sic manet gloria mundi.
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July 21, 2016, 01:26:25 PM
 #144

We're processing RICO Mint I.

The funds collected for the first mint:

Fiat: 511,763.24 USD
Bitcoin: 125.01095652 BTC
Ethereum: 721.31485884 ETH
Lisk: 7788.57652511 LISK


all the received funds from now on, will be processed at RICO Mint II.

The results of the minting will be published in a few hours.


... sic manet gloria mundi.
kaicrypzen
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July 21, 2016, 01:50:17 PM
 #145

2.27093139107 XAU comes from 661/291.07 (BTC price divided by minting cost), minting cost is actually what costs an investor to mint a XAU (you invest 291,07$ and you get 1 XAU).

If the price of 1g of gold is 54.80$ then 661$ would buy 661/54.8 = 12.06g. Can you please explain why you mentioned 11.6g?

Can you also please elaborate more on:

so the ratio of gold to xaurum increases.

Thx.

Xaurum ratio is determined by gold reserves/Xaurum money supply, because the gold reserves increase more than the money supply, the base value of all xaurum grows.

Does this mean that for the given example, the base value of a XAU will be 12.06/2.27093139107 = 5.31g ? (Whereas it was 2.26g before the RICO)

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Puhi
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July 21, 2016, 01:56:05 PM
 #146

2.27093139107 XAU comes from 661/291.07 (BTC price divided by minting cost), minting cost is actually what costs an investor to mint a XAU (you invest 291,07$ and you get 1 XAU).

If the price of 1g of gold is 54.80$ then 661$ would buy 661/54.8 = 12.06g. Can you please explain why you mentioned 11.6g?

Can you also please elaborate more on:

so the ratio of gold to xaurum increases.

Thx.

Xaurum ratio is determined by gold reserves/Xaurum money supply, because the gold reserves increase more than the money supply, the base value of all xaurum grows.

Does this mean that for the given example, the base value of a XAU will be 12.06/2.27093139107 = 5.31g ? (Whereas it was 2.26g before the RICO)

No. the additional quantity is divided between all xaurum coins.

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July 21, 2016, 02:18:47 PM
 #147


seriously? you guys are planning to migrate to the ETH blockchain because you deem it the most reliable in the world?  Grin Grin Grin Grin

I was spontaneously interested in this project, but seeing this nonsense made me spontanesouly lose interest again.

you may want to reconsider.

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July 21, 2016, 02:28:02 PM
 #148


seriously? you guys are planning to migrate to the ETH blockchain because you deem it the most reliable in the world?  Grin Grin Grin Grin

I was spontaneously interested in this project, but seeing this nonsense made me spontanesouly lose interest again.

you may want to reconsider.
Why should using the ETH blockchain be a problem?

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July 21, 2016, 02:29:56 PM
 #149

2.27093139107 XAU comes from 661/291.07 (BTC price divided by minting cost), minting cost is actually what costs an investor to mint a XAU (you invest 291,07$ and you get 1 XAU).

If the price of 1g of gold is 54.80$ then 661$ would buy 661/54.8 = 12.06g. Can you please explain why you mentioned 11.6g?

Can you also please elaborate more on:

so the ratio of gold to xaurum increases.

Thx.

Xaurum ratio is determined by gold reserves/Xaurum money supply, because the gold reserves increase more than the money supply, the base value of all xaurum grows.

Does this mean that for the given example, the base value of a XAU will be 12.06/2.27093139107 = 5.31g ? (Whereas it was 2.26g before the RICO)

No. the additional quantity is divided between all xaurum coins.

OK, I just completely forgot about the XAU in circulation that will be exchanged for XAUR ... So we have XAUR from XAU, minted XAUR from invested crypto and fiat, and gold reserves bought using invested crypto and fiat.

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July 21, 2016, 02:32:37 PM
 #150


seriously? you guys are planning to migrate to the ETH blockchain because you deem it the most reliable in the world?  Grin Grin Grin Grin

I was spontaneously interested in this project, but seeing this nonsense made me spontanesouly lose interest again.

you may want to reconsider.
Why should using the ETH blockchain be a problem?

https://bitcointalk.org/index.php?topic=1516058.0
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July 21, 2016, 02:38:54 PM
 #151


seriously? you guys are planning to migrate to the ETH blockchain because you deem it the most reliable in the world?  Grin Grin Grin Grin

I was spontaneously interested in this project, but seeing this nonsense made me spontanesouly lose interest again.

you may want to reconsider.
Why should using the ETH blockchain be a problem?

https://bitcointalk.org/index.php?topic=1516058.0
You could find similar threads listing problems with all blockchains. Much of it is very subjective.
Also Xaurum wont be running any fancy codes on the ETH blockchain. Its the reason why they have the organization to handle the money.

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July 21, 2016, 02:48:39 PM
 #152


seriously? you guys are planning to migrate to the ETH blockchain because you deem it the most reliable in the world?  Grin Grin Grin Grin

I was spontaneously interested in this project, but seeing this nonsense made me spontanesouly lose interest again.

you may want to reconsider.

Where did they say that? please link quote

On the other hand, XAURUM is not dependent on technology. They could migrate to any platform at will. This for me is one of the best features (technically), because I know that the coin will benefit from future technical developments - not die with time.

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July 21, 2016, 03:39:52 PM
 #153


seriously? you guys are planning to migrate to the ETH blockchain because you deem it the most reliable in the world?  Grin Grin Grin Grin

I was spontaneously interested in this project, but seeing this nonsense made me spontanesouly lose interest again.

you may want to reconsider.

Where did they say that? please link quote

On the other hand, XAURUM is not dependent on technology. They could migrate to any platform at will. This for me is one of the best features (technically), because I know that the coin will benefit from future technical developments - not die with time.

Its on the OP and on the RICO page

Quote
Transition to Ethereum

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July 21, 2016, 03:55:04 PM
 #154

I sent some BTC to the rico site and its works fine.

if i sent new btc to the rico site will be this forthe mintII?

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July 21, 2016, 04:11:35 PM
 #155


seriously? you guys are planning to migrate to the ETH blockchain because you deem it the most reliable in the world?  Grin Grin Grin Grin

I was spontaneously interested in this project, but seeing this nonsense made me spontaneously lose interest again.

you may want to reconsider.

My thoughts exactly!

And this!

Quote
Receiving negative trust during your participation in our campaign will result in you being disqualified from our campaign receiving nothing.

So lets say I didn't want to pay you, well then I can give you neg trust (one reason scammers have sockpuppets) and bam you don't get paid.

Not to mention paying Jr. members and above the same is laughable. True Hero and above members will have bothered to do their diligence before besmirching their name with a scam sig.

For instance, I have never been paid for a sig and will never place one without spending the time to vet a project.

That is as far as I bothered researching this. I'll not waste another minute on it.




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Aurum Project
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July 21, 2016, 05:18:27 PM
 #156

Quote
Receiving negative trust during your participation in our campaign will result in you being disqualified from our campaign receiving nothing.

So lets say I didn't want to pay you, well then I can give you neg trust (one reason scammers have sockpuppets) and bam you don't get paid.

This is a great point, and exactly the reason why we're using an escrow for the signature campaign. We don't believe that user rank is a defining characteristic of a person, and we tried to give the most people the opportunity to participate.

As for Ethereum, it is de facto the best smart-contract platform in existence, if there were any better, we'd use that.



I sent some BTC to the rico site and its works fine.

if i sent new btc to the rico site will be this forthe mintII?
Yes, all the transactions after the post are going towards mint II.

... sic manet gloria mundi.
Arrakeen
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Offer escrow, receive negative trust


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July 21, 2016, 05:28:26 PM
 #157

Are mint 2 transaction ratios different than mint #1? Can't believe I missed the first one, and I was saving all that XAU for this Sad

Sorry Im at work & don't have time to check the site - thanks in advance.
Aurum Project
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July 21, 2016, 05:36:23 PM
 #158

Are mint 2 transaction ratios different than mint #1? Can't believe I missed the first one, and I was saving all that XAU for this Sad

Sorry Im at work & don't have time to check the site - thanks in advance.
The existing XAU will be converted to XAUR at the same rate, 1 XAU = 8000 XAUR.

... sic manet gloria mundi.
minerjoen
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July 21, 2016, 05:46:53 PM
 #159

So they're asking for donations to buy the gold that this coin is supposed to be backed on?  I don't get it, how can the coin come before what it's being backed against?


Also, how do I get my hands on some of the gold from xaurum's melting page? Wink

Because all the Gold, Silver, Oil, Crystal, Alien, BigMac backed coins are fake...

I remember some Gold backed coins, they showed massive gold bars with certificates and all to earn trust...
It was all fake.

So, before u waste your money please think twice, i've got enough from those scammers.

Bitcoin: 1GPjrqoWGQfqyCEYnPhbA3nWN9dmMwFHRE
Elementrem: 0xF4789b95826C4474B3E7C780Fd90f639b51C4B6c
jure90
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July 21, 2016, 06:03:30 PM
 #160

So they're asking for donations to buy the gold that this coin is supposed to be backed on?  I don't get it, how can the coin come before what it's being backed against?


Also, how do I get my hands on some of the gold from xaurum's melting page? Wink

Because all the Gold, Silver, Oil, Crystal, Alien, BigMac backed coins are fake...

I remember some Gold backed coins, they showed massive gold bars with certificates and all to earn trust...
It was all fake.

So, before u waste your money please think twice, i've got enough from those scammers.

What about if you don't write what you don't know?


I have heard that there is a girl that has cheated on her boyfriend. I am staying single for the rest of my life. Thanks for your advice.
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