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Author Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️  (Read 168799 times)
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September 27, 2017, 01:34:26 PM
 #2081

What is custody bot?
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The forum strives to allow free discussion of any ideas. All policies are built around this principle. This doesn't mean you can post garbage, though: posts should actually contain ideas, and these ideas should be argued reasonably.
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Abitcoinfuture
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September 27, 2017, 01:39:57 PM
 #2082

What are the commissions for transactions in gold?
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September 27, 2017, 01:45:28 PM
 #2083

I like the project.,good luck team
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Alexander KOSTIN | GoldMint


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September 27, 2017, 01:51:54 PM
 #2084

Greetings!


What is the limit of the loan?


The limit of the loan depends on the GOLD or the value of the gold that is used as a collateral.


What is custody bot?


Custody Bot is GoldMint's unique device. It is programmed for temporary holding, inspection, long-term storing and conveying of gold jewelry, coins or gold.


What are the commissions for transactions in gold?


Most times, when a person buys GOLD for fiat, the price for GOLD will be LBMA + 5%. When they want to sell their GOLD, the price will be LBMA +3%. The commission for managing gold is 0.2-0.8% per annum, depending on gold volatility and investor traffic. After analyzing the correlation between the value of gold and the stock price of the three largest ETFs - the GLD (announced expense ratio 0.4% ), the IAU ( 0.25% ) and SGOL ( 0.39% ) - we estimate that the real backlog of ETF shares in physical gold is about 0.7% (prices are taken from COMEX on the LME ).


With regards,
team GOLDMINT

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September 27, 2017, 01:57:27 PM
 #2085

Looking good. Got my eye in this. What will happen to the classic chain.
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September 27, 2017, 02:09:23 PM
 #2086

What is trust management?
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September 27, 2017, 02:16:37 PM
 #2087

How do they work?
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September 27, 2017, 02:26:38 PM
 #2088

How can gold help me hedging risks on the cryptocurrency market?
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Alexander KOSTIN | GoldMint


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September 27, 2017, 02:32:09 PM
 #2089

Greetings!


What is trust management?


Trust management occurs when investors send their GOLD to GoldMint and the company uses these assets for P2P loans or for buying physical gold (e.g., for goldfield development).


How do they work?


MNT is used as a stake within the PoS (Proof-of-Stake) consensus algorithm. Namely, the more MNT the miner holds, the more blocks he can validate and add to the chain.


How can gold help me hedging risks on the cryptocurrency market?


The price of GOLD is set according to the price of gold at LBMA market. GOLD has gentler volatility than cryptocurrency, so the risks of receiving less for buyback are less than had you used, say, bitcoin to make your transaction.


With regards,
team GOLDMINT

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September 27, 2017, 02:36:09 PM
 #2090

Which assets can be deposited to the custody bot?
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September 27, 2017, 02:42:54 PM
 #2091

Does mnt act like a goldmint share?
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September 27, 2017, 02:47:43 PM
 #2092

What are some of the GOLD applications?
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September 27, 2017, 02:53:27 PM
 #2093

Im seriously bloody impressed!
Its just beyond my mental capacity to understand
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Alexander KOSTIN | GoldMint


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September 27, 2017, 02:59:31 PM
 #2094

Greetings!


Which assets can be deposited to the custody bot?


Gold jewelry, small ingots (up to 100 grams) and coins.


Does mnt act like a goldmint share?


MNT token does not imply rights to participate in company management of GoldMint and is not a share.


What are some of the GOLD applications?

Custody Bot stores the user’s GOLD and/ or gold jewellery, coins and other other gold items as collateral and simply to protect them. It also serves as the conduit for inspecting the gold, therefore determining how much GOLD the user receives.


With regards,
team GOLDMINT

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September 27, 2017, 03:05:48 PM
 #2095

Some people may wonder if they can exchange the gold token with the real gold bars. How are you going to explain this?
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September 27, 2017, 03:16:37 PM
 #2096

Looking good. Got my eye in this. What will happen to the classic chain.
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September 27, 2017, 03:19:11 PM
 #2097

What is the key idea of the project?
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September 27, 2017, 03:19:57 PM
 #2098

Some people may wonder if they can exchange the gold token with the real gold bars. How are you going to explain this?
I also want to know this.  Is it possible ?

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September 27, 2017, 03:25:56 PM
 #2099

How does custody bot evaluate the assets?
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Alexander KOSTIN | GoldMint


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September 27, 2017, 03:33:12 PM
 #2100

Greetings!


Some people may wonder if they can exchange the gold token with the real gold bars. How are you going to explain this?


The price of one GOLD equals one ounce of physical gold on the LBMA. Applicants who want to trade GOLD for fiat need to undergo GoldMint's KYC procedure. If accepted, the applicant’s GOLD cryptoasset is transferred from his, or her, GoldMint wallet to a special GoldMint account and is converted to fiat. GoldMint sends this fiat to the applicant. So, the price with commissions you receive for buying GOLD is LBMA + 5%, selling - LBMA + 2%. Therefore the way fiat => GOLD => fiat will be 3%.


What is the key idea of the project?


GoldMint buys, sells and repurchases GOLD at the current market price for physical gold. The company uses exchange-traded funds (ETF) or physical gold (of 999 quality) as its security. GoldMint's gold reserves equal or exceed its mined amounts of GOLD.


How does custody bot evaluate the assets?


Custody Bot uses the technologies of spectral analysis and hydrostatic weighing to inspect the value of the gold. In the absence of a single standard, a specialist also manually inspects the jewelry before Custody Bot conducts spectral analysis.


With regards,
team GOLDMINT

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