[ANN] Xaurum [XAUR]

[luka1987]

I always liked Xaurum with the gold story in the background. But, price was somehow too hight to invest. Now I will buy and buy and buy because I like this new system. First of all, it's not PoS anymore and that's very very good thing because the owners will not just run away and sell it all!

Second of all, it's smart contract and that's maybe the best of all including the gold in the back.
Anyway, I am very optimistic that the value will rise and rise and get back to 100$ in the future, how long will take, I can't say...

[luka1987]

What is estimated time we can expect Xaurum on poloniex or bittrex?

[raphma]

when will mining be available?

you should read the thread to understand how xaur works.

[rapazev]

What is estimated time we can expect Xaurum on poloniex or bittrex?

i think poloniex already had the old xaur, so i'm sure they will add this one soon.

[kaicrypzen]

when will mining be available?

you should read the thread to understand how xaur works.

What do you exactly mean? Mining does exist in Xaurum, it is referred to as the Goldmine. I remember Aurum Project saying that they were focusing their efforts on getting listed on exchanges, and that they will open the Goldmine after that.

What is estimated time we can expect Xaurum on poloniex or bittrex?

i think poloniex already had the old xaur, so i'm sure they will add this one soon.

XAU (the old) was not traded on Poloniex, it was on C-Cex (now has been replaced with XAUR (the new)) and seems to be still somehow traded on Bloombit.

Requests have been sent to many exchanges, the next on the line seems to be Bittrex. Speaking about Bittrex, Aurum Project said:

They don't have to visit, however they do have to check if everything is as promised by us. We've already had the meeting with them, so we expect the review process is going to conclude soon.

[Ivanovski]

If the price will be 100$ then Xaurum will be on 1st place and bitcoin 2nd 5$ would be enough You can read about Bitrex on  this page a few posts back.

[nihilnegativum]

What kaicrypzen said is correct, Goldmine will reopen once it is ready, hopefully soon.

[zxdcv]

0xc9d480525eb99581fcc487387f6cb52b8656635eea642411fd729311a2900f23

Etherscan (Unable to locate transaction) (I followed the myetherwallet.com steps to the T. I can see the Xaur zero balance in the wallet.)

Sent 5 Xaur to myetherwallet from RICO page as a test. It never showed up. The trans number is on the RICO page but etherscan does not recognize the trans number. I've triple checked to make sure the number is correct. I know that there is a deadline to withdraw from the RICO page but until Xaur Dev. has an Iron Clad wallet to withdraw to with no issues we should not be forced to withdraw. I have too much to lose to take any chances.

Will update if anything changes.

[Kazadar]

0xc9d480525eb99581fcc487387f6cb52b8656635eea642411fd729311a2900f23

Etherscan (Unable to locate transaction) (I followed the myetherwallet.com steps to the T. I can see the Xaur zero balance in the wallet.)

Sent 5 Xaur to myetherwallet from RICO page as a test. It never showed up. The trans number is on the RICO page but etherscan does not recognize the trans number. I've triple checked to make sure the number is correct. I know that there is a deadline to withdraw from the RICO page but until Xaur Dev. has an Iron Clad wallet to withdraw to with no issues we should not be forced to withdraw. I have too much to lose to take any chances.

Will update if anything changes.

Well if its doesnt show on the blockchain its not the wallet that is the issue. Then it would be the RICO page that is the problem.

Try checking your balance here.

https://etherscan.io/token/0x4DF812F6064def1e5e029f1ca858777CC98D2D81

[zxdcv]

Thanks for the link. Same message...Unable to locate.

[Kazadar]

Thanks for the link. Same message...Unable to locate.

How long has long has it been since you made the transfer?

I dont remember if there is some approval mechanism for the transfers, but then I guess you wouldnt have a transaction ID if it wasnt approved.

If it has been more than a few hours then I think you should contact the devs.

[zxdcv]

It's been a couple of hours.

When all the kinks are worked out this coin is going to be a beast.

[Aurum Project]

0xc9d480525eb99581fcc487387f6cb52b8656635eea642411fd729311a2900f23

Etherscan (Unable to locate transaction) (I followed the myetherwallet.com steps to the T. I can see the Xaur zero balance in the wallet.)

Sent 5 Xaur to myetherwallet from RICO page as a test. It never showed up. The trans number is on the RICO page but etherscan does not recognize the trans number. I've triple checked to make sure the number is correct. I know that there is a deadline to withdraw from the RICO page but until Xaur Dev. has an Iron Clad wallet to withdraw to with no issues we should not be forced to withdraw. I have too much to lose to take any chances.

Will update if anything changes.

Well if its doesnt show on the blockchain its not the wallet that is the issue. Then it would be the RICO page that is the problem.

Try checking your balance here.

https://etherscan.io/token/0x4DF812F6064def1e5e029f1ca858777CC98D2D81

We apologize, the RICO website's node wen't offline and has to resync. All transactions will complete after it is resynced, thank you for your patience.

[Aurum Project]

Explanation: Golden fee

Golden fees are one of the mechanisms that destroy xaurum and decrease Xaurum money supply in order to increase the ratio of XAUR to gold.

 The transaction fee is embedded into our token, which deducts XAUR from the sent amount when user is sending and burns the predetermined Golden fee. With this, the coin supply decreases and the gold supply stays the same, resulting in backing amount rising. At the moment golden fee is set to 0.5 XAUR. The amount is stored in the XaurumDataContract.

The fees for sending transactions are thought to be sufficient payment for blockchain security of the PoW model cryptocurrencies, for example Bitcoin. Their model tries to slowly replace the source of payment to the miners from seigniorage (profit of money creation) to payment with fees collected from existing money supply, to limit inflation that reduces their value. Xaurum does not require this replacement, as its inflation is, and will always be profitable for all users, it does however employ a similar fee collection mechanism, that additionally benefits them. Its fees don't reward only the miners, but all Xaurum users, as xaurum collected with fees are verifiably destroyed and subtracted from the Xaurum money supply. This means that the gold base backing each xaurum in exchange increases, simply because the number of xaurum in exchange decreases.

Simplified:
Each transaction costs 0.5 XAUR, is destroyed, and profits all XAUR in gold.

[zxdcv]

Thank you. We have the best Dev. team. Every issue (though not many) that I've ever had with Xaur has received a "VERY" fast response.

Thank you.

[nitja]

It's been a couple of hours.

When all the kinks are worked out this coin is going to be a beast.

I hope everything will be alright. I agree with you.

In the meantime I'd like to share this quote I found. It has some interesting points... what do you folks think?
Xaurum team will gain trust thru time, I really believe that.


Vattenj wrote on reddit:

Decentralization has become a new hype since the invention of GIT. But I think it is overemphasized. In the end you must decide if that form of organization can really help you to achieve your target. If it is just a technical smoke for programmers to grab power, then you are not better than any previous decision making mechanism, just replace the banks with programmers, and they might ruin it since lack of financial knowledge

Just like democracy, decentralization is even slower, less efficient and will often end up in deadlock situation because no way to reach consensus. If you want to make quick decisions in chaos, centralized organization is always more effective, given the decision makers have enough expertise.
 

[zxdcv]

Centralization is why the world is so F'd up now. Centralization of power is always a bad thing because it gives too much power to a chosen few.
When the centralized economy fails....and it will....the people a.k.a the block-chain will be there to pick up the pieces. Block-chain=power to the people.

[nihilnegativum]

Decentralization has become a new hype since the invention of GIT. But I think it is overemphasized. In the end you must decide if that form of organization can really help you to achieve your target. If it is just a technical smoke for programmers to grab power, then you are not better than any previous decision making mechanism, just replace the banks with programmers, and they might ruin it since lack of financial knowledge

Just like democracy, decentralization is even slower, less efficient and will often end up in deadlock situation because no way to reach consensus. If you want to make quick decisions in chaos, centralized organization is always more effective, given the decision makers have enough expertise.
 

I think the main flaw of the hype is framing it in a political discourse, a type of discoure thats missing reasons and just affirms a simple opposition, centralization=bad, decentralization=good. It has to be understood as a process, not an either/or choice that can be done, as both are necessary properties of systems. The problem with this kind of thinking when you're building a system is that you don't anticipate centralization, and because the system will generate it in practice its effects will be detrimental to indended goals.

Neither centralization or decentralization are good/bad in itself, it all depends on the purposes we wish to accomplish and the means we have at our disposal. For example, centralization is necessary to provide systems with growth of complexity by unifying functions otherwise dispersed and inefficient, but this produces a fragile order, one that either fails in time or succeeds and becomes decentralized as it creates its own specific infrastructure. If we look at an example from biology, you need cells that centralized functions, before you can have a multiplicity of ecosystems with different lifeforms, but if the centralized cell was more efficient compared to aminoacids in replication, the more complex lifeforms far superior for this function. So the claim that centralization is efficient is true, however always only in short term, and when in time the unity created by centralization becomes decentralized and robust, a new bundle of functions can centralize and create new growth of complexity, etc.

Decentralization makes systems robuster by making them more distributed, but this does not yet imply fairness or anything like that, because for decentralized systems distribution is coincidental and particular, and this means it can be as bad as centralization in an ethical sense.

[zxdcv]

Great points and well written nihilnegativum.



Update: My test withdraw of Xaur from the RICO page is now showing in "myetherwallet" address.

Thanks.

[szachta]

Trying to withdraw from c-cex but nothing received.