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Author Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️  (Read 95038 times)
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September 29, 2017, 08:30:28 AM
 #2341

Greetings!

What about GOLD/MNT mining?

To start mining, you just  needs  to  download  a program  from the  GoldMint repository, launch it on your device, fine-tune it and start mining. 
Consensus algorithm :  We use PoS as our primary mining system. In  case  a user who holds many MNT  doesn’t have  enough  computational power, he can rent 
computational power from other miners.

Miner rotation 
The  amount  of  stakes  depends  on the  amount  of MNT  a miner holds.  So,  if  a miner owns 50% MNT, he will be chosen to process every second block. 

Miner rewards 
A miner receives  a  GOLD commission from each processed block. When the block is processed, no tokens are emitted.

Describe PoS and why you chose it? Thank you

Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. Unlike proof-of-work (PoW) based cryptocurrencies (such as bitcoin), where the algorithm rewards participants who solve complicated cryptographical puzzles in order to validate transactions and create new blocks (i.e. mining), in PoS-based cryptocurrencies the creator of the next block is chosen in a deterministic (pseudo-random) way, and the chance that an account is chosen depends on its wealth (i.e. the stake). In PoS cryptocurrencies the blocks are usually said to be forged (in the blacksmith sense of this word), or minted, rather than mined. Also, usually all the coins are created in the beginning and the total number of coins never changes afterwards (although there are some other versions of PoS where new coins can be created). Therefore, in the basic version of PoS there are no block rewards (e.g. as in bitcoin); so, the forgers take only the transaction fees

how are the rewards for mining determined?

According to the amount of MNTs the miner has.

With regards,
team GOLDMINT

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September 29, 2017, 08:30:43 AM
 #2342

Greetings!

hi destruct

  I have purchased 1000 MNT/MNTP tokens out of 10 million available. this gives me ownership of 1 in every 10000 tokens.

  1) How many tokens approx would be needed to mine one GOLD block ?   The reward for mining a block would obviously be directly related to a % the total value of the GOLD block mined ?    So a more valuable block would be more profitable to mine ?

  2) Just a thought here. Would it be at all possible to combine/pool all miners  MNT/MNTP tokens together and each miner can then share EQUITABLY in the GOLD mining profits for all blocks mined based on the % of MNT/MNTP tokens they own. Each miner could then receive a % payout on a daily basis or however often you pay out commissions.  

  3) Currently you do not require purchasers of MNT/MNTP tokens to produce any form of ID. Once operational and you start paying miners commission in GOLD will you then require each miner to provide you KYC/ID personal details ?

  4) Will your new graphene blockchain be quantum proof ?

  5) Could GOLDMINT possibly set up there own in house exchange for people to trade tokens and GOLD. This would avoid price manipulation on crypto exchanges. For example Vaultoro has their own exchange on their web site.

Cheers )

1) All blocks will be distributed within active miners according to their MNT token stake. That's right. A more valuable block will be more valuable to mine.

2) Commissions are payed instantly after the block is verified. All blocks will be distributed to the stakeholders according of value block, too. But that occur with more transactions verified.

3) You don't need your ID verified for getting GOLD tokens commissions.

4) At first our blockchain will use standard cryptography methods as most of the blockchains nowadays. As soon as powerful quantum computers will appear being available to hack these blockchains we will start implementing quantum proof. But it is not expected earlier than 5-10 years.

5) That's a good idea. We will definetely discuss it before implementing.

This is really cool. Will definitely lead to a more stable token.

I am however concerned about securities laws. This is essentially a security backed by gold, which might have some legal implications.

MNT tokens pass the Howey Test, meet all the SEC requirements and can't be determined as securities. Same with GOLD tokens.

why would someone buy gold with btc.. gold is the past, bitcoin is the future

Physical Gold will not be losing it's price because it has trust within all people in the world.

What is going to happen to the tokens that will remain unsold during the ICO? Maximum supply for the goldmint is 42M right?

All these tokens will be frozen for a year and then sold to private investors for prices not cheaper than on our ICO. $42M, you are right!

With regards,
team GOLDMINT

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September 29, 2017, 09:03:28 AM
 #2343

what happens if the miner doesn’t have enough computing power to verify a transaction?
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September 29, 2017, 09:08:59 AM
 #2344

why is goldmint platform built on graphene?
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September 29, 2017, 09:15:12 AM
 #2345

what are graphene’s advantages compared to ethereum and other blockchains?
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September 29, 2017, 09:21:36 AM
 #2346

Interesting... Watching!
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September 29, 2017, 09:32:32 AM
 #2347

Greetings!

what happens if the miner doesn’t have enough computing power to verify a transaction?

The miner can buy more from from other miners on the network.

why is goldmint platform built on graphene?

The advantages of Graphene compared to Ethereum include the following. It is: Safer - GoldMint blockchain uses its own coins rather than turing-complete smart contracts. More productive - GoldMint is optimized for GOLD transactions. GoldMint is the only ICO that uses this platform, so its platform executes workloads The Graphene blockchain supports PoS.Cheaper - there is no charge for ether commissions.faster and more effectively.

what are graphene’s advantages compared to ethereum and other blockchains?

Graphene is cheaper, there is no charge for ether commissions. Graphene, too, is optimized for GOLD transactions therefore its executes its blocks faster and more effectively and it’s safer in that it uses its own coins rather than turing-complete smart contracts.

With regards,
team GOLDMINT

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September 29, 2017, 09:41:41 AM
 #2348

what other projects run on graphene?
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September 29, 2017, 09:49:32 AM
 #2349

which data will be stored on graphene blockchain?
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September 29, 2017, 09:54:02 AM
 #2350

Tell us more about hedging risks?
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September 29, 2017, 10:00:02 AM
 #2351

Looking good. Got my eye in this. What will happen to the classic chain.
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September 29, 2017, 10:02:10 AM
 #2352

This project is popular projects, there are so many followers, very glad that my investment, hoping to become a lot of houses
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September 29, 2017, 10:10:30 AM
 #2353

Greetings!

what other projects run on graphene?

Graphene also allows its users other platforms that include:Openledger - exchange Rudex - exchange Satoshi.fund - fund Hubdsp - DSP platform Peerplays - betting platform Steemit / Golos.io - news platform

which data will be stored on graphene blockchain?

Details of the miner rotation, miners’ rewards and incentives as well as details related to Custody Bot operations (e.g., assessment, weight, when allocated and withdrawn). Also stored on Graphene are all details related to GoldMInt’s GOLD transactions.

Tell us more about hedging risks?

Commercial producers and gold workers, like miners, jewelers, or the government, tended to use gold options, futures and ETF as hedging tools.

Today, a significant amount of investors like to use gold to hedge against inflation or to diversify their investments. In fact, gold became the one common investment  of all metals and has a legendary history as commodity and coin. Like other commodities, gold depends on micro and macro economical and political events, so its value fluctuates along with these. GoldMint not only helps you cushion the risk of this volatility but also gives you the option of taking a short position in physical gold bullion, coins or mining stocks.

Here are some reasons why investors choose GoldMint:

You can hedge your investment in gold using the GOLD token. Doing so protects your gold from bearish conditions. Investors can chose to convert just a portion of their assets or all of it with this GOLD cryptoasset
Investors may want to invest in a minimal amount of GOLD to assess whether or not they profit
GOLD is based on real physical gold and therefore possesses far more face-value credibility than other cryptocurrencies, including Bitcoin, have.
The gold market/ gld returns look promising. GoldMint helps investors hedge their risks and promises more for their investments.

With regards,
team GOLDMINT

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September 29, 2017, 10:14:00 AM
 #2354

How can I get a loan with a golden ring for example?
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September 29, 2017, 10:19:11 AM
 #2355

Can i recieve cryptocurrency or fiat loan from Goldmint?
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September 29, 2017, 10:21:40 AM
 #2356

how can i get a loan using custody bot?
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September 29, 2017, 10:25:00 AM
 #2357

okay not too bad to look at the project on this thread of course in this case I still need to see more about goldmint how it would be great in the future.
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September 29, 2017, 10:30:05 AM
 #2358

Greetings!

How can I get a loan with a golden ring for example?

1. User  presses  the  Open  button.  The  tray  slides  out. The  user  places  a  product  in  it, which gets loaded into the box.                                                                                                                                       
2. The  product  put  into  the  Custody  Bot  machine  enters  the  spectral  analysis block. A  manipulator  forces the product onto scales where it is weighed  twice, once in air then  in liquid.   
3. Once  inspection  is  complete,  the  manipulator  returns  the  product  to  one  of  the compartments inside the Custody Bot. 
4. The  spectral  data  and  weighting  data  are  fed  into  a  computer  installed  inside  the  box. This measurement  data is encoded on the blockchain, made public to anyone who  wants to see the information.
5. You get a loan in GOLD currency.

Can i recieve cryptocurrency or fiat loan from Goldmint?

You may be able to receive a cryptocurrency or fiat loan from GoldMint PTE LTD, using GOLD as collateral. All applicants will need to undergo the KYC procedure.

All members who have GOLD receive GoldMint Partner banks credit cards, aligned with VISA and MasterCard systems. To that end, GoldMint plans to create a special bank card  called “ Bogatstvo ” for prominent pawnshops like “ Blago ” and ” Fianit “.

Process:
GoldMint loan applicants transfer their GOLD as collateral to a certain GoldMint infrastructure element.
The rate of the loan is established at the time of giving and remains fixed through the loan period.Applicants needs to consent to GoldMint loan terms to receive the loan.
Applicant is given various options for repaying loan amount and for mode of repayment.
If the borrower defaults, his GOLD cryptoassets are transferred to GoldMint.
Credit card limits are set according to the value of the user’s GOLD.These cards can be used for payment in shops, restaurants and cafes. Interest is accrued to unpaid credit debt. If this remains unpaid, GOLD reverts to GoldMint.

how can i get a loan using custody bot?

After you’ve done the KYC process, you enter your gold commodities in the Custody Bot, which inspects the items and determines how much fiat or crypto currency you get. You can, also, receive a credit card through a partner bank. The limit of that card will correspond to the value of your stored gold.

With regards,
team GOLDMINT

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September 29, 2017, 10:37:10 AM
 #2359

what do i need to get a loan?
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September 29, 2017, 10:41:46 AM
 #2360

what is the limit of the loan?
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