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kaicrypzen
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July 22, 2016, 09:07:34 AM |
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I'm just curious, but need to throw some hypothetical situations out there:
Let's say I send 100,000 XAU to the RICO address.
What I receive in return....is 800,000,000 XAUR? What is the purpose of XAUR, and how much XAUR = 1oz gold?
Another hypothetical:
Let's say I send 100,000 XAU to the RICO address. While I get 800,000,000 XAUR (?) the XAUR devs will be selling this XAU and purchasing gold with the profit? Aren't we getting any of the shiny stuff? And how can you prove it...
...because that's a large amount of fiat received in Mint I, which is already over - but nothing to show for it....?
Yes, any sent XAU will be converted into XAUR immediately at the ratio of 1XAU = 8000XAUR. Now, the gold base for a XAUR is 0.00036835432g (see previous comment): 1 XAUR = 0.00036835432 g
This base value may change after each mint. It seems to me that one of the purposes of XAUR is to increase liquidity, XAU is relatively expensive and maybe difficult to exchange, by splitting it into 8000 XAUR, it will probably be easily exchangeable ... The XAU is not sold (it is exchanged for XAUR), only fiat and other crypto is sold to buy new gold and add it to the existing reserve. You can get gold only if you want to exchange XAU/XAUR for it (and you will get the base value), this is called melting. For the time being, it is not profitable at all to melt a XAU and in the near future it wouldn't be profitable to melt a XAUR unless the market price is under the price of the base value. This has never happened before. I hope we get some contract, some purchase order and some pictures to show for that ... |
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kaicrypzen
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July 22, 2016, 09:10:59 AM |
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I came across that and indeed the project doesn't seem that solid ... Xaurum seems to already have gold reserves and they want to buy more. DeColouds doesn't have any ... |
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kaicrypzen
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July 22, 2016, 09:21:18 AM |
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I still do not understand how it is beneficial to buy earlier than later within the ICO. The following statements seem oppositional. If the conversion rate from XAU to XAUR stays the same, how does it make a difference when to buy? I guess I somehow still do not understand something here.  Few questions
1) What's the benefit of buying now instead of last day of the RICO?
After minting, Xaurum ratio will increase, this means the base value of each xaurum will increase, and will consequently be more costly to create. Nobody can know how much more the cost will increase in advance, yet it is certain to increase, as it depends on the number of funds collected and number of new xaurum coined. After the first mint, a new minting price will be published. 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  Sorry Im at work & don't have time to check the site - thanks in advance. i don't understand it either. they should have give some bonuses for the first few people who bought XAUR in the first days and then bonuses gradually depreciates until the last days. This will give the pressure to buy earlier. i would assume however that people will still buy more in the last days. its 8 days left! Good luck to us. Sending XAU early or later on does not give any advantage as the rate will still be the same 1XAU = 8000XAUR. However the advantage of investing fiat and other crypto early on, is the minting cost: Minting cost in RICO Mint I will be the lowest because for each mint the minting cost is greater or equal to the minting cost of the previous mint. For example here are the minting costs for Mint I and II: RICO Mint I minting cost: 0.03638375$ RICO Mint II minting cost: 0.03812457009$ |
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BoldNinja
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July 22, 2016, 09:37:24 AM |
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I still do not understand how it is beneficial to buy earlier than later within the ICO. The following statements seem oppositional. If the conversion rate from XAU to XAUR stays the same, how does it make a difference when to buy? I guess I somehow still do not understand something here. Few questions
1) What's the benefit of buying now instead of last day of the RICO?
After minting, Xaurum ratio will increase, this means the base value of each xaurum will increase, and will consequently be more costly to create. Nobody can know how much more the cost will increase in advance, yet it is certain to increase, as it depends on the number of funds collected and number of new xaurum coined. After the first mint, a new minting price will be published. 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 Sorry Im at work & don't have time to check the site - thanks in advance. i don't understand it either. they should have give some bonuses for the first few people who bought XAUR in the first days and then bonuses gradually depreciates until the last days. This will give the pressure to buy earlier. i would assume however that people will still buy more in the last days. its 8 days left! Good luck to us. Sending XAU early or later on does not give any advantage as the rate will still be the same 1XAU = 8000XAUR. However the advantage of investing fiat and other crypto early on, is the minting cost: Minting cost in RICO Mint I will be the lowest because for each mint the minting cost is greater or equal to the minting cost of the previous mint. For example here are the minting costs for Mint I and II: RICO Mint I minting cost: 0.03638375$ RICO Mint II minting cost: 0.03812457009$ So when is the next minting due? |
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kaicrypzen
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July 22, 2016, 09:51:19 AM |
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So when is the next minting due?
A Mint happens each three days. RICO Mint I took place on 21/07/2016 12:00 CET, so I suppose RICO Mint II will take place on 24/07/2016 12:00 CET. |
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Aurum Project (OP)
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July 22, 2016, 01:24:58 PM |
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Here is our proof of gold, we hope this will suffice until the Loomis open account is ready. These are the gold reserves we've bought from Nadir, the remaining 2125 g were bought from another provider.  |
... sic manet gloria mundi.
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kellendil
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July 22, 2016, 01:51:15 PM |
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Here is our proof of gold, we hope this will suffice until the Loomis open account is ready. These are the gold reserves we've bought from Nadir, the remaining 2125 g were bought from another provider. thats legit i can confirm |
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nitja
Member
 Offline
Activity: 85
Merit: 10
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July 22, 2016, 01:53:45 PM |
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Here is our proof of gold, we hope this will suffice until the Loomis open account is ready. These are the gold reserves we've bought from Nadir, the remaining 2125 g were bought from another provider. Now this is the real deal. Thanks ! Keep up the good work! |
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ludbega
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July 22, 2016, 01:56:44 PM
Last edit: July 26, 2016, 11:15:33 PM by ludbega |
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very nice work, looks solid  and great for that structure, the rico works perfectly. Huge amount will come. |
Un tiens vaut mieux que 2 tu l'auras
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Bitcoinmeister
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July 22, 2016, 02:17:10 PM |
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Here is our proof of gold, we hope this will suffice until the Loomis open account is ready. These are the gold reserves we've bought from Nadir, the remaining 2125 g were bought from another provider.
Now this is the real deal. Thanks ! Keep up the good work!
seems to be all good, great job!! |
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Puhi
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July 22, 2016, 02:21:33 PM |
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Here is our proof of gold, we hope this will suffice until the Loomis open account is ready. These are the gold reserves we've bought from Nadir, the remaining 2125 g were bought from another provider.
Now this is the real deal. Thanks ! Keep up the good work!
seems to be all good, great job!! Legit |
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Hueristic
Legendary
Offline
Activity: 3794
Merit: 4861
Doomed to see the future and unable to prevent it
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July 22, 2016, 07:59:24 PM |
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Have a trusted escrow agent physically inspect the assets.
Yeah right that is going to happen. Lol
You can get a third party to inspect the assets this isn't a problem but how can you make sure the 3rd party is legit. Hence the highlighted.  1. The access to Loomis account will be public (when Loomis enables it). You will be able to log on their web site and chech how much gold is stored by Auresco. 2. Please accept a public personal invitation to visit the storage facility. You need to pay for the airplane and room. Interested? Escrow the cost of the inspection and I will foot the bill for the inspection out of my own pocket and then after the inspection the escrowed funds will be released. |
“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.”
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nezto77
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July 22, 2016, 08:30:35 PM |
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Here is our proof of gold, we hope this will suffice until the Loomis open account is ready. These are the gold reserves we've bought from Nadir, the remaining 2125 g were bought from another provider. on its basic xaurum already has a price and a very high class in comparison altcoin others. with his existing rico xaurum this project, I think this is a huge breakthrough. and you've managed to build it again dev! |
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Puhi
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July 22, 2016, 08:47:46 PM |
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Have a trusted escrow agent physically inspect the assets.
Yeah right that is going to happen. Lol
You can get a third party to inspect the assets this isn't a problem but how can you make sure the 3rd party is legit. Hence the highlighted. 1. The access to Loomis account will be public (when Loomis enables it). You will be able to log on their web site and chech how much gold is stored by Auresco. 2. Please accept a public personal invitation to visit the storage facility. You need to pay for the airplane and room. Interested? Escrow the cost of the inspection and I will foot the bill for the inspection out of my own pocket and then after the inspection the escrowed funds will be released. Let's do this. Please suggest third party inspector. PM me so we can move forward. Ok? Disclaimer: I have helped to arrange Loomis and Nadir agreements. This gives me the ability to organise everything needed. |
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eye4bd
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July 22, 2016, 10:39:40 PM |
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Here is our proof of gold, we hope this will suffice until the Loomis open account is ready. These are the gold reserves we've bought from Nadir, the remaining 2125 g were bought from another provider. Hi #XAU brand is not new in cryptoland. And it's already being a proven reality! But some people will always be there for asking prove at the very first place before even reading a single words about it! Maybe, next time we will see they are start to talking about touching the gold, then believing it! Thanks! |
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enhu
Legendary
Offline
Activity: 2492
Merit: 1018
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July 23, 2016, 01:04:55 AM |
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I still do not understand how it is beneficial to buy earlier than later within the ICO. The following statements seem oppositional. If the conversion rate from XAU to XAUR stays the same, how does it make a difference when to buy? I guess I somehow still do not understand something here. Few questions
1) What's the benefit of buying now instead of last day of the RICO?
After minting, Xaurum ratio will increase, this means the base value of each xaurum will increase, and will consequently be more costly to create. Nobody can know how much more the cost will increase in advance, yet it is certain to increase, as it depends on the number of funds collected and number of new xaurum coined. After the first mint, a new minting price will be published. 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 Sorry Im at work & don't have time to check the site - thanks in advance. i don't understand it either. they should have give some bonuses for the first few people who bought XAUR in the first days and then bonuses gradually depreciates until the last days. This will give the pressure to buy earlier. i would assume however that people will still buy more in the last days. its 8 days left! Good luck to us. Sending XAU early or later on does not give any advantage as the rate will still be the same 1XAU = 8000XAUR. However the advantage of investing fiat and other crypto early on, is the minting cost: Minting cost in RICO Mint I will be the lowest because for each mint the minting cost is greater or equal to the minting cost of the previous mint. For example here are the minting costs for Mint I and II: RICO Mint I minting cost: 0.03638375$ RICO Mint II minting cost: 0.03812457009$ Good to know. I wish I knew it during since the start. They didn't explained this earlier on of must have missed it. Actually, text on images aren't that attractive to read. I prefer something that i can highlight using the mouse while also reading the rest of the text. |
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Hueristic
Legendary
Offline
Activity: 3794
Merit: 4861
Doomed to see the future and unable to prevent it
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July 23, 2016, 02:03:01 AM |
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Have a trusted escrow agent physically inspect the assets.
Yeah right that is going to happen. Lol
You can get a third party to inspect the assets this isn't a problem but how can you make sure the 3rd party is legit. Hence the highlighted. 1. The access to Loomis account will be public (when Loomis enables it). You will be able to log on their web site and chech how much gold is stored by Auresco. 2. Please accept a public personal invitation to visit the storage facility. You need to pay for the airplane and room. Interested? Escrow the cost of the inspection and I will foot the bill for the inspection out of my own pocket and then after the inspection the escrowed funds will be released. Let's do this. Please suggest third party inspector. PM me so we can move forward. Ok? Disclaimer: I have helped to arrange Loomis and Nadir agreements. This gives me the ability to organise everything needed. Great, I will be busy until tues or wed, as soon as I have time I will figure out the cost. What is the address? Is it the one in texas? |
“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.”
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Puhi
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July 23, 2016, 07:42:18 AM |
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Have a trusted escrow agent physically inspect the assets.
Yeah right that is going to happen. Lol
You can get a third party to inspect the assets this isn't a problem but how can you make sure the 3rd party is legit. Hence the highlighted. 1. The access to Loomis account will be public (when Loomis enables it). You will be able to log on their web site and chech how much gold is stored by Auresco. 2. Please accept a public personal invitation to visit the storage facility. You need to pay for the airplane and room. Interested? Escrow the cost of the inspection and I will foot the bill for the inspection out of my own pocket and then after the inspection the escrowed funds will be released. Let's do this. Please suggest third party inspector. PM me so we can move forward. Ok? Disclaimer: I have helped to arrange Loomis and Nadir agreements. This gives me the ability to organise everything needed. Great, I will be busy until tues or wed, as soon as I have time I will figure out the cost. What is the address? Is it the one in texas? Texas? Anyway let me know. |
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