|
Kaznachej123
|
 |
June 29, 2017, 06:17:51 PM |
|
What is the minimum invest ment goal
Needs 133333 OROC tokens to be purchased from what I can see on their website. https://orocrypt.com/ I'm a little disappointed because the ICO OROCRYPT is going slowly, do not we collect the minimum  |
|
|
|
|
|
migello
|
|
June 30, 2017, 08:35:49 AM
Last edit: June 30, 2017, 03:01:31 PM by migello |
|
What is the minimum invest ment goal
Needs 133333 OROC tokens to be purchased from what I can see on their website. https://orocrypt.com/ I'm a little disappointed because the ICO OROCRYPT is going slowly, do not we collect the minimum interesting concept but you read the whitepaper and run scared away... ---absolutely NO dividends if business is profitable (see Prospectus , orocrypt website) ---they release 500.000 shares for $ 4.5 Mil out of 1,112,000, they retain 612.000 shares ---of which 266,822 for them ($ 1.080.000) and 345,118 ($ 1.397.000) for employees and "other plans" (? ? ? ) "345,118 shares of our tokenized common stock Class A reserved for future issuance under our equity, employees compensation and other plans." "The total authorized and issued capital is divided into 1,112,000 shares: ● Class A - 845,118 Each share of Class A common stock is entitled to one vote per share. ● Class B - 266,882 Each share of Class B common stock is entitled to ten votes per share and is convertible at any time into one share of Class A common stock. These shares were distributed to the company founders. No additional Class B shares will be created after initial issuance and they will convert to Class A shares upon sale to anyone outside the initial group of founders." ---out of $ 4.500.000 they burn $ 2.459.000 dollars... and what you have? basically nothing. Maybe this is why the ico is going so slow... I am sorry Lambos aren't free today. Good luck for the project |
|
|
|
|
aidit45@gmail.com
Sr. Member
 Offline
Activity: 1554
Merit: 255
payMe - P2E
|
|
June 30, 2017, 06:13:15 PM |
|
why I do not receive Twitter stake in 23.6.2017
|
|
|
|
Orocrypt
Member
Offline
Activity: 85
Merit: 10
|
|
June 30, 2017, 08:15:59 PM |
|
What is the minimum invest ment goal
Needs 133333 OROC tokens to be purchased from what I can see on their website. https://orocrypt.com/ I'm a little disappointed because the ICO OROCRYPT is going slowly, do not we collect the minimum interesting concept but you read the whitepaper and run scared away... ---absolutely NO dividends if business is profitable (see Prospectus , orocrypt website) ---they release 500.000 shares for $ 4.5 Mil out of 1,112,000, they retain 612.000 shares ---of which 266,822 for them ($ 1.080.000) and 345,118 ($ 1.397.000) for employees and "other plans" (? ? ? ) "345,118 shares of our tokenized common stock Class A reserved for future issuance under our equity, employees compensation and other plans." "The total authorized and issued capital is divided into 1,112,000 shares: ● Class A - 845,118 Each share of Class A common stock is entitled to one vote per share. ● Class B - 266,882 Each share of Class B common stock is entitled to ten votes per share and is convertible at any time into one share of Class A common stock. These shares were distributed to the company founders. No additional Class B shares will be created after initial issuance and they will convert to Class A shares upon sale to anyone outside the initial group of founders." ---out of $ 4.500.000 they burn $ 2.459.000 dollars... and what you have? basically nothing. Maybe this is why the ico is going so slow... I am sorry Lambos aren't free today. Good luck for the project Hi migello. Thanks for your comments. They allow us to present our point of view. To clarify your comment about dividends, we are only not committing at this point to declare dividends. That doesn't mean that they may never be paid. Our perspective is that if the company in one year from now, has one million in profits and there is an investment opportunity that may give 500,000 in future profits, our owners would be better off by not receiving dividends and would benefit a lot more from the increase of the company value by investing the million in the new deal. On top, dividends are taxed as ordinary income in most jurisdictions, whilst capital gains from selling tokens held long term pay taxes at a much lower rate. I don't understand what you mean we burn $2.459.000 dollars and that token holders have basically nothing. Please remember that we are euro based, not dollar based. Also please look at our proforma balance sheet, also in our prospectus. It shows that after the ICO, the company will keep most of the 4.5 mm in cash, bitcoin, ether and gold. Our expected first year expenses are approximately 1.2mm equivalent to 100,000 a month. Lets say that the gold-token we will sell in September is a flop. Then the silver token we will sell in October is another flop, and the un-mined gold token for December is also a flop. We would probably at that point stop operations and close the business after six months. If we had only spent 600 thousand during those six months, and had zero profits, there would be 3.9 million euros left that would belong to the owners. Tokens outstanding would be 655000 (the founders only have 155,000 tokens with the rest accrued over three years). Dividing 3.9 million euros into 655,000 tokens (500,000 ICO +155,000 founders) leaves a value to be returned to each token of 5.95 euros. So under that scenario, each token owner would lose 3.05 euros if the company fails to make one cent during its first six months and decides to close. Yes, any investment in a startup is very risky. Most startups do not make it past their first year, and we have been very open about it. An investment in the company is risky! But to say that investors have nothing is incorrect. Now, add the managing team value. That is very important. Remember what happened to Apple when Steve Jobs went back?. For instance, Digix is valuing their team at approximately 30 million dollars (136 million in eth in their wallet and a total value of market capitalisation of 167 million}. When you are investing in Orocrypt you are also getting the managing team. A group of experienced and successful individuals. Investors in the company are getting the team's capacity to generate profits, to find profitable investments and to manage Orocrypt very well. Finally, we do hope to succeed in our ICO. If we do not, then Orocrypt will get financing from traditional sources and therefore continue with its plans. So come what may, expect to see our gold-token in September! Many thanks! |
|
|
|
|
FandangledGizmo
Legendary
Offline
Activity: 1138
Merit: 1001
|
|
July 01, 2017, 12:26:58 AM |
|
The decentralised blockchain's USP is privacy & freedom from confiscation.
If you look at the top 12 by capitalisation, 3 are exclusively focused on privacy, XMR, DASH & ZEC. In their Metropolis update, ETH will introduce Zk-SNARKs for privacy (which ETC can adopt too.) STRAT is developing Tumblebit so that easy private Bitcoin transactions are possible (LTC can easily be added) BTS has 'Stealth'...
The majority of ICO's these days are incorporating in Crypto Valley, Zug, Switzerland, still always ranked in the top 3 jurisdictions for privacy.
You have incorporated in Panama, not in anyone's top 10 AFAIK, you require KYC from investors & customers of your main product. So there's not much USP for investors or customers vs. using/investing in existing gold holding services. I know you have said you are looking at a gold token product which only requires KYC if you claim the physical which is great but to extend that idea further you could...
Through the use of a price oracle, create a smart contract that If you send ETH to the contract it sends you back 1 gram gold tokens at spot +2%. If you send gold tokens to the smart contract it gives you back ETH at spot -2%.
The contract is funded with enough ETH to cover 1% of outstanding gold tokens & replenished if needed every 24 hours.
50% of the fees charged above/below spot are sent to another smart contract and distributed to ORO token holders.
- The 1 gram gold tokens will likely trade on exchanges within a tighter range than the +-2%
- In the event of an Orocrypt bankruptcy token holders can claim gold directly from the vault with a minimum of 30 grams & with KYC.
That way customers have a private gold product they can access simply by sending ETH to a smart contract & investors have a private share that provides consistent returns from 50% of fees regardless of whether the 10x voting shares 'think' they have a more profitable use than dividends for the remaining revenue.
|
|
|
|
|
|
migello
|
|
July 01, 2017, 07:37:11 AM |
|
Hi migello. Thanks for your comments. They allow us to present our point of view. To clarify your comment about dividends, we are only not committing at this point to declare dividends. That doesn't mean that they may never be paid. Our perspective is that if the company in one year from now, has one million in profits and there is an investment opportunity that may give 500,000 in future profits, our owners would be better off by not receiving dividends and would benefit a lot more from the increase of the company value by investing the million in the new deal. On top, dividends are taxed as ordinary income in most jurisdictions, whilst capital gains from selling tokens held long term pay taxes at a much lower rate.
I don't understand what you mean we burn $2.459.000 dollars and that token holders have basically nothing. Please remember that we are euro based, not dollar based. Also please look at our proforma balance sheet, also in our prospectus. It shows that after the ICO, the company will keep most of the 4.5 mm in cash, bitcoin, ether and gold.
Our expected first year expenses are approximately 1.2mm equivalent to 100,000 a month. Lets say that the gold-token we will sell in September is a flop. Then the silver token we will sell in October is another flop, and the un-mined gold token for December is also a flop. We would probably at that point stop operations and close the business after six months. If we had only spent 600 thousand during those six months, and had zero profits, there would be 3.9 million euros left that would belong to the owners. Tokens outstanding would be 655000 (the founders only have 155,000 tokens with the rest accrued over three years). Dividing 3.9 million euros into 655,000 tokens (500,000 ICO +155,000 founders) leaves a value to be returned to each token of 5.95 euros. So under that scenario, each token owner would lose 3.05 euros if the company fails to make one cent during its first six months and decides to close. Yes, any investment in a startup is very risky. Most startups do not make it past their first year, and we have been very open about it. An investment in the company is risky! But to say that investors have nothing is incorrect.
Now, add the managing team value. That is very important. Remember what happened to Apple when Steve Jobs went back?. For instance, Digix is valuing their team at approximately 30 million dollars (136 million in eth in their wallet and a total value of market capitalisation of 167 million}. When you are investing in Orocrypt you are also getting the managing team. A group of experienced and successful individuals. Investors in the company are getting the team's capacity to generate profits, to find profitable investments and to manage Orocrypt very well.
Finally, we do hope to succeed in our ICO. If we do not, then Orocrypt will get financing from traditional sources and therefore continue with its plans. So come what may, expect to see our gold-token in September! Many thanks!
Thank you for the explanation of your point of view |
|
|
|
|
|
|
Orocrypt
Member
Offline
Activity: 85
Merit: 10
|
|
July 02, 2017, 05:54:01 PM |
|
I am very very sad as well in this project, I think it will not reach the minimum investment on time. i just hope that when it happens, they'll refund all their investors with their money.
Hi Garrett. Don't be sad. There are still almost two weeks left in the ICO. A lot can happen during this time. Also, I can tell you that we will refund the investors if we do not reach the minimum. Look at who are the team's people behind the project. The company will continue with its plans whether the ICO succeeds or not, because if it doesn't we will look for funds from traditional financing. We would still launch our gold backed tokens in September and we want it to be a success. |
|
|
|
|
Orocrypt
Member
Offline
Activity: 85
Merit: 10
|
|
July 02, 2017, 06:01:00 PM |
|
|
|
|
|
|
Orocrypt
Member
Offline
Activity: 85
Merit: 10
|
|
July 02, 2017, 06:05:29 PM |
|
The decentralised blockchain's USP is privacy & freedom from confiscation.
If you look at the top 12 by capitalisation, 3 are exclusively focused on privacy, XMR, DASH & ZEC. In their Metropolis update, ETH will introduce Zk-SNARKs for privacy (which ETC can adopt too.) STRAT is developing Tumblebit so that easy private Bitcoin transactions are possible (LTC can easily be added) BTS has 'Stealth'...
The majority of ICO's these days are incorporating in Crypto Valley, Zug, Switzerland, still always ranked in the top 3 jurisdictions for privacy.
You have incorporated in Panama, not in anyone's top 10 AFAIK, you require KYC from investors & customers of your main product. So there's not much USP for investors or customers vs. using/investing in existing gold holding services. I know you have said you are looking at a gold token product which only requires KYC if you claim the physical which is great but to extend that idea further you could...
Through the use of a price oracle, create a smart contract that If you send ETH to the contract it sends you back 1 gram gold tokens at spot +2%. If you send gold tokens to the smart contract it gives you back ETH at spot -2%.
The contract is funded with enough ETH to cover 1% of outstanding gold tokens & replenished if needed every 24 hours.
50% of the fees charged above/below spot are sent to another smart contract and distributed to ORO token holders.
- The 1 gram gold tokens will likely trade on exchanges within a tighter range than the +-2%
- In the event of an Orocrypt bankruptcy token holders can claim gold directly from the vault with a minimum of 30 grams & with KYC.
That way customers have a private gold product they can access simply by sending ETH to a smart contract & investors have a private share that provides consistent returns from 50% of fees regardless of whether the 10x voting shares 'think' they have a more profitable use than dividends for the remaining revenue.
Your concept is brilliant! It only needs to be worked out a bit more. Some points that need revision are: One gram. That is too small. Spot gold price fees for one gram range between 10-25%. If you charge 2% you would be losing money. KYC. If you do not have a solid KYC process you will not be able to have fiat currency bank accounts or be able to buy gold from reputable providers, or store it at reputable vaults. Regarding dividends, it is illegal in most jurisdictions to distribute dividends without KYC and investor registration. Fractional banking. 1% in daily reserves is too little. It would have to be much more and determined by a process similar to the stress tests banks are currently undergoing. We would be happy to talk to you about your concept if you are interested in developing it together. |
|
|
|
|
|
nor9854
|
|
July 04, 2017, 11:12:54 AM |
|
It is good to hear that you will continue with the project even if ico failed to reach minimum target.
|
|
|
|
|
|
|
|
|
yurez
|
|
July 06, 2017, 09:24:13 AM |
|
Thank you, everything is accessible and understandable in my native language. |
|
|
|
|
FandangledGizmo
Legendary
Offline
Activity: 1138
Merit: 1001
|
|
July 06, 2017, 10:45:02 AM |
|
The decentralised blockchain's USP is privacy & freedom from confiscation.
If you look at the top 12 by capitalisation, 3 are exclusively focused on privacy, XMR, DASH & ZEC. In their Metropolis update, ETH will introduce Zk-SNARKs for privacy (which ETC can adopt too.) STRAT is developing Tumblebit so that easy private Bitcoin transactions are possible (LTC can easily be added) BTS has 'Stealth'...
The majority of ICO's these days are incorporating in Crypto Valley, Zug, Switzerland, still always ranked in the top 3 jurisdictions for privacy.
You have incorporated in Panama, not in anyone's top 10 AFAIK, you require KYC from investors & customers of your main product. So there's not much USP for investors or customers vs. using/investing in existing gold holding services. I know you have said you are looking at a gold token product which only requires KYC if you claim the physical which is great but to extend that idea further you could...
Through the use of a price oracle, create a smart contract that If you send ETH to the contract it sends you back 1 gram gold tokens at spot +2%. If you send gold tokens to the smart contract it gives you back ETH at spot -2%.
The contract is funded with enough ETH to cover 1% of outstanding gold tokens & replenished if needed every 24 hours.
50% of the fees charged above/below spot are sent to another smart contract and distributed to ORO token holders.
- The 1 gram gold tokens will likely trade on exchanges within a tighter range than the +-2%
- In the event of an Orocrypt bankruptcy token holders can claim gold directly from the vault with a minimum of 30 grams & with KYC.
That way customers have a private gold product they can access simply by sending ETH to a smart contract & investors have a private share that provides consistent returns from 50% of fees regardless of whether the 10x voting shares 'think' they have a more profitable use than dividends for the remaining revenue.
Your concept is brilliant! It only needs to be worked out a bit more. Some points that need revision are: One gram. That is too small. Spot gold price fees for one gram range between 10-25%. If you charge 2% you would be losing money. KYC. If you do not have a solid KYC process you will not be able to have fiat currency bank accounts or be able to buy gold from reputable providers, or store it at reputable vaults. Regarding dividends, it is illegal in most jurisdictions to distribute dividends without KYC and investor registration. Fractional banking. 1% in daily reserves is too little. It would have to be much more and determined by a process similar to the stress tests banks are currently undergoing. We would be happy to talk to you about your concept if you are interested in developing it together. Thanks for the reply. What about 2% above and below what Orocrypt would pay for a 100g bar? I.e a 4% spread/profit. & What if the minimum gold token size was 1 gram but the minimum amount of gold tokens you needed for physical delivery/withdrawal was 100 + KYC (Example: Orocrypt buys 10, 100g bars and can now sell & buy back 1000 '1 gram gold tokens' backed by physical gold based on the current price of 100g bars - That way no 1 gram physical bars with a huge mark-up are purchased only 100g and up.) Regards fractional banking. I'm not suggesting 1% gold reserves. I'm suggesting 99/100% gold reserves & 1% of that total value in ETH reserves. So if you have sold 100kg worth of physical vaulted gold, so 100 000 gold tokens on the market, the ETH contract should have at least $40 000 worth of ETH so that 1% of the gold tokens can be redeemed for ETH on a daily basis. In the event more people wanted to exchange their gold tokens for ETH, Orocrypt would sell more of their fully backed physical on the market, buy ETH with the proceeds and replenish the smart contract. Regards dividends, I'm not familiar with the various laws surrounding them but I know many cryptos offer/will offer it in some form such as VSL, WAGR, TKN and the ones listed here https://www.investitin.com/cryptocurrency-dividends/Perhaps one of those approaches would be a feasible & legal method for Orocrypt. Regards KYC, pretty difficult, what if Orocrypt or a trust was the owner of the gold (for this particular product offering) with some measures put in place that would require the gold to be sold and ETH bought & sent to the smart contract in the event of a bankruptcy/other. That way the token holders are just owners of digital tokens, no bad actors could actually get physical gold because they have to pass KYC and have at least 100 1 gram gold tokens to get delivery. (The OGC one gram backed token will be redeemable for physical & I 'believe' will be tradable on regular exchanges, ie the digital token can be bought and sold without KYC. (I don't like their model because their token issuance is limited, so the tokens will be valued at 'Gold + large speculative/volatile premium, like XAURUM which has some small gold backing but most of the token value is speculative & volatile which defeats the point.) Xaurum is also traded on regular exchanges, no KYC and there is a method to redeem the underlying physical I believe. Hopefully one of those offerings is using a legal solution to the problem that can be emulated.) |
|
|
|
|
|
Thule
|
|
July 06, 2017, 09:22:03 PM |
|
orocrypt is a distaster and OP still didn't provided a single proof that he purchased the gold and that it has been deposited .
Not a single proof and there you have your reasons why noone is investing since OROCRYPT
is called a scamcoin as OP denies to proof it
|
|
|
|
|
Orocrypt
Member
Offline
Activity: 85
Merit: 10
|
|
July 07, 2017, 12:33:01 AM
Last edit: July 12, 2017, 12:20:47 AM by mprep |
|
orocrypt is a distaster and OP still didn't provided a single proof that he purchased the gold and that it has been deposited .
Not a single proof and there you have your reasons why noone is investing since OROCRYPT
is called a scamcoin as OP denies to proof it
Hi Thule. Please visit our website, read our whitepaper and our prospectus. We have not bought gold yet because we have not launched the gold backed token. That will be fully backed by gold. 100%. If we don't reach our minimum, we will continue and fund the company through traditional means. On ICO closing date, we would then refund all investors that want out. What we are offering is an equity participation in a company that will digitise assets. Token owners will OWN part of a real company. Again, please visit our website and see our roadmap. The profitable oil arbitrage shown there was a real deal. I don't want to post the profits because it would make your head spin. We have the knowledge, the means, the experience and the connections to make it so. Anyone who buys our token is buying ownership of the company, with all the potential to generate future real profits. We are not a scam. Please. An investment in our company is risky, as with any startup, but scam?? not really.
Please see our video interview of Orocrypt's Chief Financial Officer, Darlene Hart in our website http://orocrypt.com. Why we require investors to register and comply with AML/KYC requirements. |
|
|
|
|
|
nor9854
|
|
July 07, 2017, 10:33:05 AM |
|
Please see our video interview of Orocrypt's Chief Financial Officer, Darlene Hart in our website http://orocrypt.com. Why we require investors to register and comply with AML/KYC requirements. Good video.I like the concept of Orocrypt and would love to invest.When will it be on exchange? |
|
|
|
|
rumax
|
|
July 07, 2017, 11:59:46 AM |
|
Please see our video interview of Orocrypt's Chief Financial Officer, Darlene Hart in our website http://orocrypt.com. Why we require investors to register and comply with AML/KYC requirements. Good video.I like the concept of Orocrypt and would love to invest.When will it be on exchange? Why do you need the exchange, if the ICO is currently underway? If the company does not collect the minimum amount of investments, we will not see it in the near future at the stock exchange! |
|
|
|
|
Buerra
Legendary
Offline
Activity: 980
Merit: 1000
|
|
July 07, 2017, 12:05:08 PM |
|
a week left for the ico period. So what is the minimum and how much you already collect? I think for a last week you should inform people it may attract some investors.
As I know you collect 16/133 so around 12%
|
|
|
|
|
|
