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Author Topic: [ANN] Xaurum [XAUR]  (Read 326511 times)
batfink68
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January 06, 2017, 06:16:23 AM
Last edit: January 06, 2017, 06:27:20 AM by batfink68
 #1441

sigh

I'm looking at coinmarketcap.com and I'm seeing only 8 out of 100 crypto's that is in the green and the rest are in the red thanks to bitcoin dropping like a stone, which is apparently due to the Chinese yuan fluctuation.

See, that means xaurum is just another speculative crypto at the moment when the whole point of being backed by gold was that it was underpinned by a real commodity and therefore wasn't a speculative crypto.

Obviously, the point of being or having a gold reserve is not being disseminated as it should be.  Embarrassed

If people comprehended that xaurum had a gold base then xaurum would have risen today.
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damnMscollec
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January 06, 2017, 06:27:29 AM
 #1442

sigh

I'm looking at coinmarketcap.com and I'm seeing only 8 out of 100 crypto's that is in the green and the rest are in the red thanks to bitcoin dropping like a stone, which is apparently due to the Chinese yuan fluctuation.

See, that means xaurum is just another speculative crypto at the moment when they whole point of being backed by gold was that it was underpinned by a real commodity and therefore wasn't a speculative crypto.

Obviously, the point of being or having a gold reserve is not being disseminated as it should be.  Embarrassed

If people comprehended that xaurum had a gold base then xaurum would have risen today.


The volume is tiny, the price is not down because the team holds most fund, current price is a bit overvalued.

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January 06, 2017, 06:36:09 AM
 #1443

current price is a bit overvalued.


Really?








XAURUM PRODUCTION PRICE
0.1202$


Rules
1. Production price can only increase.
 
2. Production price is set at every Coinage.
 
3. Production price is used as an empirical variable of the Coinage equation.
 
4. New Production price is set at exchange price of XAUR at the time of the Coinage. When the exchange price is greater than the previous Production price, Coinage is possible.
5. Production price is denominated in USD.

http://xaurum.org/production_price.html

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batfink68
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January 06, 2017, 10:08:11 AM
 #1444

current price is a bit overvalued.


Really?



http://i2.imageban.ru/out/2017/01/06/70c97d0724ec861ae623ce954f8e2b40.jpg




XAURUM PRODUCTION PRICE
0.1202$


Rules
1. Production price can only increase.
 
2. Production price is set at every Coinage.
 
3. Production price is used as an empirical variable of the Coinage equation.
 
4. New Production price is set at exchange price of XAUR at the time of the Coinage. When the exchange price is greater than the previous Production price, Coinage is possible.
5. Production price is denominated in USD.

http://xaurum.org/production_price.html

Yeah, I figured it was undervalued. I'd buy more but I'm not set up with the exchanges to transfer funds in and out. So right now I'm buying like $15 a day of bitcoin via wesellcrypto and then transfering that bitcoin fraction to an exchange and then buying xaur with it. It's a slow and frustrating way to do it but then again, saving is a good habit to get into.

The question now is How can we raise awareness that xaurum is backed by hard gold bullion?

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January 06, 2017, 11:23:17 AM
 #1445


The question now is How can we raise awareness that xaurum is backed by hard gold bullion?




this information is on the website Xaurum

COMMONWEALTH
AUDIT

Subscribe to our mailing list, to participate in the public audit of Xaurum gold reserves stored at Loomis. The reserves are stored as 1 kg and 0.5 kg bars and the status of the storage is updated daily.
Note that there should be the total gold supply (availiable from the smart contract) minus 7371 g (local storage), minus whatever the ammount Nadir has before 1 kg is reached and stored at Loomis.

The gold is prepaid as 1g 999.9 good delivery gold bars and stored as 1 kg or 0.5 kg bars, to decrease costs of storage.
http://xaurum.org/commonwealth_audit.html



and information about -  NADIR METAL RAFINERI A.S.
http://www.goldbarsworldwide.com/PDF/NBA_16_Nadir.pdf (information from google)

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jure90
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January 06, 2017, 07:40:40 PM
 #1446

sigh

I'm looking at coinmarketcap.com and I'm seeing only 8 out of 100 crypto's that is in the green and the rest are in the red thanks to bitcoin dropping like a stone, which is apparently due to the Chinese yuan fluctuation.

See, that means xaurum is just another speculative crypto at the moment when the whole point of being backed by gold was that it was underpinned by a real commodity and therefore wasn't a speculative crypto.

Obviously, the point of being or having a gold reserve is not being disseminated as it should be.  Embarrassed

If people comprehended that xaurum had a gold base then xaurum would have risen today.


What an idiotic thinking. Everything has supply and demand, therefore the price is going up or down. If something is "measured" in something volatile, do you really expect that the golden backing would stop the down fall? Everything lower more than 20% than production price is literally free. Why? The beauty of production price and golden backed currency is that is has NO inflation if the market shows that it does not need it, but when the market shows that it does need it than the mint (and new golden dividends for everyone) is done. Go buy shitcoins instead Wink
pythonium
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January 06, 2017, 08:32:40 PM
 #1447

I think that it might be a big problem in the future, that most of the exchanges operate on BTC-altercurr. pairings..

If you have a denomination like that, all currencies that aren't bitcoin automatically lose in value when BTC sell-off ocurres - my point being that money is being siphoned from the cryptoeconomy.

If you ask me, that caused the Xaur price fluctuation these days...

batfink68
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January 07, 2017, 01:51:19 AM
 #1448

"What an idiotic thinking. Everything has supply and demand, therefore the price is going up or down. If something is "measured" in something volatile, do you really expect that the golden backing would stop the down fall? Everything lower more than 20% than production price is literally free. Why? The beauty of production price and golden backed currency is that is has NO inflation if the market shows that it does not need it, but when the market shows that it does need it than the mint (and new golden dividends for everyone) is done. Go buy shitcoins instead Wink "


No. Gold is a global standard and rarely drops in value in such large measure. It dropped 20.5% for a day back in the 1980's and dropped by 9% in a day in 2013.

The point of xaurum is that it is a crypto that is backed by the gold standard instead of being backed by hype.

jure90
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January 07, 2017, 09:02:42 AM
 #1449

Your posting makes no sense. Xaurum is not 100% backed by gold and it will never be. It has its golden backing behind of it and it can only go up. The backing can never drop. But bigger the difference between golden and production price, faster the backing. The gold behind of xaurum is meant for knowing where the worst case scenario is and for measuring events that are happening on xaurum network. You can do the calculation how much the gold increased because of all transactions, mints, minings.

I suggest you to do the deeper study of the project because when you will understand it, you will fall in love with it. Do not feel odd if you will need a few weeks to really understand it, because even I needed this, even though I know devs in person. If you need any help let me know.
Domenc
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January 07, 2017, 09:51:58 AM
 #1450

Well said Jure! 

Have had a lot's of problems with understanding the whole project. Even If do know a lot about fisical investment gold and blockchain twchnology I did not understand the whole concept of Xaurum for a long time. It took me about 3 or 4 months to fully understand everything.

I am also sure when you will understand the point of xaurum, you will think a lottle different than now. ☺

Best regards.
batfink68
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January 07, 2017, 11:43:07 AM
 #1451

Your posting makes no sense. Xaurum is not 100% backed by gold and it will never be. It has its golden backing behind of it and it can only go up. The backing can never drop. But bigger the difference between golden and production price, faster the backing. The gold behind of xaurum is meant for knowing where the worst case scenario is and for measuring events that are happening on xaurum network. You can do the calculation how much the gold increased because of all transactions, mints, minings.

I suggest you to do the deeper study of the project because when you will understand it, you will fall in love with it. Do not feel odd if you will need a few weeks to really understand it, because even I needed this, even though I know devs in person. If you need any help let me know.

Yeah, I know that there isn't anywhere near $80mn worth of gold in the current bullion holdings. My point however is that the current gold backing and even the promise of further increase in gold holdings is not making any difference in the way people perceive it as being different from other crypto.

See, with gold bonds, their value only massively drops when governments interfere with them.

A gold bond is backed with hard bullion in a vault and therefore it doesn't drop when regular bonds drop in price.

This last 2 weeks has seen some big volatility in xaurum's price- it's dropped by around 40% twice in 4 weeks.

Anyway, I don't really mind if the dev's want to censor me for saying what I'm saying so let me be perfectly clear here: Nothing is making xaur a safer crypto for investors or a more desirable crypto and something needs to change.
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January 07, 2017, 11:56:05 AM
 #1452

What promises are you talking about? Did you actually understand the whole concept?
nitja
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January 07, 2017, 06:23:30 PM
 #1453


[/quote]
 

This last 2 weeks has seen some big volatility in xaurum's price- it's dropped by around 40% twice in 4 weeks.

Anyway, I don't really mind if the dev's want to censor me for saying what I'm saying so let me be perfectly clear here: Nothing is making xaur a safer crypto for investors or a more desirable crypto and something needs to change.
[/quote]

Once it was because of the hack situation. It's a free market, anybody can sell at any price. but if you know how xaurum works, you'll see that if you hold it, someday you'll have xaurums which will be 100% backed by gold, or even more.

And when the fiat will be really worthless 'piece of shit like' paper, which btw already is, you will recognize the real value of Xaurum.

If you are giving such claims (something needs to change), it would be appropriate to tell some solutions or improvements. without it, those are just empty worthless words written here.
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January 08, 2017, 01:27:24 AM
 #1454

Is there an online wallet for Xaurum?
Is there an established exchange that can sell me Xaurum for bitcoin?


Topknotbam
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January 08, 2017, 03:19:38 AM
 #1455

Is there an online wallet for Xaurum?
Is there an established exchange that can sell me Xaurum for bitcoin?



Yes.


exchange
http://coinmarketcap.com/assets/xaurum/#markets


wallets


myetherwallet - https://www.myetherwallet.com/#send-transaction



Ethereum wallet github.


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batfink68
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January 08, 2017, 07:33:25 AM
 #1456

"If you are giving such claims (something needs to change), it would be appropriate to tell some solutions or improvements. without it, those are just empty worthless words written here."

1) Okay, for starters there needs to be some better worded English language press releases about the structure of Xaurum.

It doesn't worry me that the dev's first language isn't English but it does worry me that the English is being mangled in the start up phase when it needs to be exact- it needs to be written in a manner that all can understand and is not hidden behind crypto jargon. This is to entice newbs.

2) Second point is that there is no marketing/communicating of Xaurum to the investment sector. We need people selling Xaurum to the rich who seek investment advice and are willing to pay for investment advice.

That means the dev's need to figure out how a financial planner can get a financial cut when they 'sell xaurum' to investors. Financial planners are like insurance brokers or mortgage brokers in that they take a slice for themselves. We want rich Italians, Russians etc buying a few thousand dollars worth of xaurum in their investment portfolio.
Ideally, long term investors are better for price stability than Chinese speculators.

That's plenty for now.

# Xaurum is different because of the gold backing yet it isn't being pushed for that difference- waiting for poloniex to rescue it, cannot be the pinnacle of the xaurum plan.
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January 08, 2017, 11:17:45 AM
 #1457

I think Xaurum's purpose is implementation of the most fundamental idea of "money" into modern technology (cryptocurrency) which makes it really unique.
As I have observed the whole project for about a year now, I have seen pretty professional attitude from Xaurum team and great development of system. In my opinion, there is still some work to do, but big things take some time for sure. People nowadays are used to invest and pay out in short time. But this project is completely different thing. I am sure it was never meant to be a short-time investment or something, but a stable currency backed by gold. Bitcoin was the same from it's very beginning, it wasn't treated as an investment, but an experimental cryptocurrency which people would use. So the extreme increase in it's price was rather a consequence of it's popularity than the primary intention of it's developer.

It is really funny how people treat all cryptocurrencies as short-time investments with no background. Sometimes you have to think outside the box. On the other hand I realize the world is full of scams and frauds so I understand why people are so sceptical.

Xaurum project is transparent due to use of blockchain technology and commonwealth audit. As far as I have analyzed the background, the project is completely legit and surely has bright future. As long as I know that, some little-volume speculations don't bother me.
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January 08, 2017, 03:16:20 PM
 #1458

+1 what bafink wrote

Since Xaurum is mainly poor man's gold at the moment, they really need to make it obvious its essentially a long term gold investment, suitable for portfolio diversification.

You really cannot rely on traders (or xchange markets) to form a demand price that's needed to issue new Xaur.

...marketing, marketing, marketing!
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January 08, 2017, 07:22:55 PM
Last edit: January 08, 2017, 07:33:31 PM by CoolSearch
 #1459

sigh

I'm looking at coinmarketcap.com and I'm seeing only 8 out of 100 crypto's that is in the green and the rest are in the red thanks to bitcoin dropping like a stone, which is apparently due to the Chinese yuan fluctuation.

See, that means xaurum is just another speculative crypto at the moment when the whole point of being backed by gold was that it was underpinned by a real commodity and therefore wasn't a speculative crypto.

Obviously, the point of being or having a gold reserve is not being disseminated as it should be.  Embarrassed

If people comprehended that xaurum had a gold base then xaurum would have risen today.


What an idiotic thinking. Everything has supply and demand, therefore the price is going up or down. If something is "measured" in something volatile, do you really expect that the golden backing would stop the down fall? Everything lower more than 20% than production price is literally free. Why? The beauty of production price and golden backed currency is that is has NO inflation if the market shows that it does not need it, but when the market shows that it does need it than the mint (and new golden dividends for everyone) is done. Go buy shitcoins instead Wink

"Everything lower more than 20% than production price is literally free."
Everything lower then 20% of currect production price is actually free.. couse gold base is a bit less then 20% od current production price.. Everything more is pure speculation.

The only thing that can save xaur price from falling another 50% is either drastical rise in gold price or constant demand from new investors.



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January 08, 2017, 07:26:06 PM
 #1460

İ like Xaurum but i dont know how it will reach a higher price...

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