I digged a bit deeper and the project is a big mess.
I checked their whitepaper and businessplan and was shocked what i saw there.
Based on their whitepaper and website each HGT token is limited to a lifetime benefit of 0.0038g of gold !!!!!! which is based on current gold price arround $0.16 .
So the max benefit you will get per hgt token is $0.16 .
So somebody may explain to me why should people by this token for anything near or higher than $0.16 .
Check the ICO price and now have a look at the max benefit their hgt token can get on current gold price
Next important information.
They said people will just receive 10% of revenue from just the management fee which is 2% of stored gold value per year.
Transaction fee's and all other fee's including 90% of management fee goes directly to the company.
If you check their businessplan their final goal for 2024 is to have 40 billion USD worth of gold stored in their vault.
Thats an extremly high number but lets even assume they will succeed what does it mean for hgt holders.
2% management fee from $40.000.000.000 gold value stored in vault is $800.000.000 management fee per year.HGT holders get from these $800.000.000 10% which is $80.000.000 revenue share.
This money will be shared to one billion token which is $0.08 per hgt token.
So if they succeed and grow really that big you as hgt holder will get in 2024 (in 6 years) $0.08 benefit per hgt token.
There are some other concerned numbers but i got contacted by a journalist and i guess he will publish it shortly.
However anyone being familar with the gold business knows 2% fee per transaction and 2% management fee,redeem fee etc is extremly high in the gold business and even the fee's are so high
they are so GREEDY (cause else you can't call it) that they will share only 10% of revenue from the management fee.
Themself they keep whole ownership of the company and of nearly all profit/revenue for themself .
They claim its because of the high cost but anyone can check himself how much it cost to store gold even as private person and that these companies are way smaller and still making good profit.
So anybody investing his money for a 10% revenue share of the management fee must be aware the benefits should this project even succeed will be very small
You are basicly financing this company with no real compensation at all.There is only one beneficiant which is the owner getting cheap money and taking no risk.
What makes me really mad is the clear attempt of the team to get cheap money and kick off investors with some poor bones.
If you check max benefit a HGT token is allowed to get and ICO price the difrrence is just arround 3 times from ICO price.
Is that really a fair deal ?
here from their website
What is the return on HGT?
There is no guaranteed return on HGT. The disbursement of reward GOLDX to HGT holders is discretionary by HGF. However, as the lifetime total allocation of GOLDX is capped at 3,800,000 GOLDX (i.e. 3.8 metric tonnes of gold) to the 1,000,000,000 HGT created, each HGT will receive a maximum of 0.0038 GOLDX (i.e. 0.0038 g of gold).
You see these 0.0038g maximum limit they put for each HGT ?Limiting the max benefit to currently $0.16 .
Do anybody really belive they made it by mistake seeing all the other low profit sharing attempts ?
Sorry but i belive its done on purpose.
The CEO knows exectly how to count so he knows also exectly about the limit he put for you guys
They didn't even talked about it till i exposed this fact where they later banned me claiming i was creating fud but noone just showed me i'm wrong by proofing his numbers cause my numbers are legit and say everything about that project so they started the personal way to attack someone and discredit
