Orocrypt
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May 31, 2017, 08:34:05 AM |
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Is there any special writing for bounty writing? Very irregular ![Embarrassed](https://bitcointalk.org/Smileys/default/embarrassed.gif) Could you please explain a bit more what did you mean? Is there a special link bounty? You can find bounty program here.
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mrongoz22
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LIVECASINO
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May 31, 2017, 08:57:18 AM |
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joined bounty
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LIVECASINO
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Orocrypt
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May 31, 2017, 11:14:50 AM |
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Right now - CEO of Orocrypt, Alejandra de Gaustad, a person with 34 years of experience in finance and banking, is in Orocrypt telegram channel to answer all of your questions. If you have any uncertainties or doubts in our project -- feel free to ask questions and join discussion! Join our Telegram here.
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ryanben
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May 31, 2017, 03:41:04 PM |
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I need more infomation about this ICO
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Orocrypt
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May 31, 2017, 03:46:34 PM Last edit: May 31, 2017, 08:08:41 PM by Orocrypt |
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I need more infomation about this ICO
Sure, what information would you like to know? You can find all the documents on the website https://orocrypt.com/#documents
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prashanta
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May 31, 2017, 05:04:00 PM |
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Hey there, I have joined twitter & facebook bounty project successfully & i also like & retweet from home page already. seems to me that your acts will be successful very soon & i will support it until the ICO end.
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roshidnahdi
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June 01, 2017, 08:52:19 PM |
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Amazing project sir....Good luck
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hannusolo
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June 01, 2017, 09:12:13 PM |
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Just one question: In what currency are the divindends going to be paid?
As a growth company, there are no plans for Orocrypt to declare dividends. Companies like Facebook, Google, Amazon and many others do not pay dividends, yet they have been excellent investments. Bitcoin doens't pay dividends, still many investors have, and are, making fortunes with bitcoin and other cryptocurrencies. If business circumstances merit in the future a declaration of dividends by Orocrypt, these will be denominated in whatever form is the most advantageous to the shareholders. They could be either in euros, bitcoin, ether, gold, silver, etc. Thanks, just wanted to know, because I saw a mentioning of dividends in the white paper. But I like the idea of if there ever will be dividends, one can have many options to choose the currency from!
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romanekras
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June 02, 2017, 10:51:37 AM |
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Orocrypt Enables Digitised Ownership of Precious Metals Vault Receipts. A Panama-based company has proposed to digitise ownership of precious metals by harnessing the power of Ethereum blockchain. Orocrypt plans to issue Ethereum tokens representing one Class A common share. The stakeholders will be the individuals/organisations who participate in the upcoming sale of Orocrypt’s 500,000 class A shares representing 45% of the company’s equity. The cost per one Orocrypt Inc. Share Token (OROC) is 9 EUR. Investors will be able to purchase stakes for Euro, Bitcoin or Ether in real time. More
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yurimir
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June 02, 2017, 11:46:02 AM |
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I am joined Twitter bounty campaign, joined Facebook bounty campaign too ! Hope success this project, good luck!! Thanks.
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ptytrader
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June 02, 2017, 12:21:41 PM Last edit: June 02, 2017, 01:26:59 PM by ptytrader |
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As a longtime cryptocurrency holder, trader, and miner I would stop...think....and take a second look at this company before investing.
Panama has strict laws regarding shares and capital trading. We must all be weary of centralized companies that offer "pseudo-cryptocurrencies". In the last consensus conference this topic was mentioned. We are seeing a flood of centralized companies offering "shares" or "asset-tokens" in an attempt to circumvent regulation.
Most countries have not developed laws that encompass the entire definition of cryptocurrency. That means that if regulation is changed, the token holders can be affected. This is not the case with decentralized tokens.
Additionally there is the legal matter of selling Class A shares in Panama. I think that we should be provided proof that the Superintendency is on board and approves the sales. Even if this is confirmed, we must know where the gold is coming from and what measures have been taken to protect the consumer.
I welcome anyone to do their research and share it. If the company is legit and the shares are signed off by the SBA, then it will be interesting to see its growth.
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Orocrypt
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June 02, 2017, 02:40:00 PM |
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As a longtime cryptocurrency holder, trader, and miner I would stop...think....and take a second look at this company before investing.
Panama has strict laws regarding shares and capital trading. We must all be weary of centralized companies that offer "pseudo-cryptocurrencies". In the last consensus conference this topic was mentioned. We are seeing a flood of centralized companies offering "shares" or "asset-tokens" in an attempt to circumvent regulation.
Most countries have not developed laws that encompass the entire definition of cryptocurrency. That means that if regulation is changed, the token holders can be affected. This is not the case with decentralized tokens.
Additionally there is the legal matter of selling Class A shares in Panama. I think that we should be provided proof that the Superintendency is on board and approves the sales. Even if this is confirmed, we must know where the gold is coming from and what measures have been taken to protect the consumer.
I welcome anyone to do their research and share it. If the company is legit and the shares are signed off by the SBA, then it will be interesting to see its growth.
Hello, ptytrader. It is great, that you raised this issue! Our company is compliant with Panama law. We would be happy if you perform checks from your side. That only means you are reasonable investor. Regarding tokens, we will issue ERC20 tokens on ethereum blockchain which means they will be decentralized and we can't control their flow. We can discuss why you think they are centralized, I will gladly respond to all of your questions. Information about gold storage you can find on the website. Every storage will be inspected by SGS.
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ptytrader
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June 02, 2017, 02:56:50 PM |
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If the gold that is used to back the currency/asset is under the company's control or another authority's control, then the platform is centralized. Decentralization means the lack of a governing body.
The Ethereum metatokens are worthless without the gold backing that is being offered.
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Orocrypt
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June 02, 2017, 03:14:54 PM |
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If the gold that is used to back the currency/asset is under the company's control or another authority's control, then the platform is centralized. Decentralization means the lack of a governing body.
The Ethereum metatokens are worthless without the gold backing that is being offered.
You are completely right. I thought we were talking about share-tokens. They are backed by real shares of Orocrypt company. Gold tokens will be issued after ICO in case it is successful. And it is not centralized due to this text in whitepaper: In the event of bankruptcy or closure of Orocrypt, holders of ORO.G may withdraw, sell or claim the underlying gold from Orocrypt or directly from custodial storage vaults. The specifics of these processes would be communicated to all token holders in a clear and concise manner. It is important to emphasize that because purchases of ORO.G does not grant ownership to the company under any circumstances, ORO.G holders are not exposed to Orocrypt’s liabilities.
Here, ORO.G is gold-token.
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ptytrader
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June 02, 2017, 03:43:25 PM |
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We will have to see these specifics you mention to determine if they protect the consumer. Precious metals is a highly regulated market and a whitepaper is not a legally binding document.
I do have another question though: To participate in the ICO we have to provide our address, identity documents, telephone number, and email address. This is done in order to comply with KYC and AML laws. That means all token holders will need to register their real identities in order to claim their gold in an event of bankruptcy or withdrawal. Is this also true for anyone who buys at an exchange and not directly through your ICO? (I bring this up in the case someone uses a pseudonym to buy)
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Alexbt
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June 02, 2017, 04:16:12 PM |
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joined bounty
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Orocrypt
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June 02, 2017, 04:35:09 PM |
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We will have to see these specifics you mention to determine if they protect the consumer. Precious metals is a highly regulated market and a whitepaper is not a legally binding document.
I do have another question though: To participate in the ICO we have to provide our address, identity documents, telephone number, and email address. This is done in order to comply with KYC and AML laws. That means all token holders will need to register their real identities in order to claim their gold in an event of bankruptcy or withdrawal. Is this also true for anyone who buys at an exchange and not directly through your ICO? (I bring this up in the case someone uses a pseudonym to buy)
Gold tokens and share tokens are two different instances. During ICO we sell share-tokens, not gold-tokens. And yes, you will have to provide your real identity. We are keeping a shareholder registry, as required by Panamanian law. Same for exchanges.
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mdkb
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June 02, 2017, 05:13:45 PM |
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... 9 euros is high in Fintech but low in traditional IPOs. We are selling 45% of the company. Please consider that Facebook was launched at $27 and now trades at $148 Google (now Alphabet) was launched at $50 and now is $954. The best, Amazon was launched at $4 and now is at $959. Twitter was launched at $40 but now trades at $18.
You are quoting FIAT based businesses that exist in the FIAT based markets. This is the 'Wild West' compared to that 'traditional' world. Those businesses rarely respond the same as businesses that exist in the young and volatile Crypto markets. You maybe making a mistake of judgment. It is a bit like comparing yourself to elite bicycle businesses when launching into a redneck speedway racing business. If this coin drops to less than 1 Euro in value after launch don't be surprised, and of course....welcome to the learning curve that is volatile Crypto world. I note that your history is clearly with FIAT finances, based from your team website info. I expect you are about to get on board a rollercoaster... and therefore, so are your investors. Investing in an ICO that charges 9 Euros for a coin at launch, maybe asking for trouble.Have you financially assessed Crypto businesses at all and seen what they do? or just looked at Facebook , Google, and businesses in that 'traditional' world. They may be computer-based and seem similar, but they aint Crypto and to quote them as comparisons suggests you dont really know what you are dealing with here.
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ViresInX
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June 02, 2017, 05:34:32 PM |
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... 9 euros is high in Fintech but low in traditional IPOs. We are selling 45% of the company. Please consider that Facebook was launched at $27 and now trades at $148 Google (now Alphabet) was launched at $50 and now is $954. The best, Amazon was launched at $4 and now is at $959. Twitter was launched at $40 but now trades at $18.
You are quoting FIAT based businesses that exist in the FIAT based markets. This is the 'Wild West' compared to that 'traditional' world. Those businesses rarely respond the same as businesses that exist in the young and volatile Crypto markets. You maybe making a mistake of judgment. It is a bit like comparing yourself to elite bicycle businesses when launching into a redneck speedway racing business. If this coin drops to less than 1 Euro in value after launch don't be surprised, and of course....welcome to the learning curve that is volatile Crypto world. I note that your history is clearly with FIAT finances, based from your team website info. I expect you are about to get on board a rollercoaster... and therefore, so are your investors. Investing in an ICO that charges 9 Euros for a coin at launch, maybe asking for trouble.Have you financially assessed Crypto businesses at all and seen what they do? or just looked at Facebook , Google, and businesses in that 'traditional' world. They may be computer-based and seem similar, but they aint Crypto and to quote them as comparisons suggests you dont really know what you are dealing with here. I don't think there are any innovative developers on the team because they are depending on the Ethereum Token scheme. That's probably where the lack of knowledge come into play. I also agree that they are not taking into account the volatility of the cryptocurrency market. Not only that, we find trust in decentralization. This goes totally against that principle. Now, let's say the company is legit and it manages to get the gold. As I understand it, companies can give out shares or bonds that amount to the company's worth. This company has: CapitalSocial "11,120.00" It's a risky prospect to say the least. In their whitepaper they mention the Panama SBA. This entity is the one that regulates all securities and banking activity in the country. I have written them a friendly email to verify if their claims are true. I will update you guys as soon as I know more.
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gomei
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June 03, 2017, 10:18:21 AM |
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Seems to be an interesting project, it will definitely be on my watch-list. I have two questions: 1)Is there any escrow for the tokens? 2)How long will the team hold the shares?
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