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Author Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️  (Read 168799 times)
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Alexander KOSTIN | GoldMint


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October 04, 2017, 08:11:34 AM
 #2661

Greetings!

Where is your bounty?

Here you can find all details about our BTT campaign: https://bitcointalk.org/index.php?topic=2091804

What commission you hold?

GOLD commission is Z% (no more than 0.3%), but no less than a fixed Y amount of GOLD
(i.e., more than 0,0025 GOLD depending on the current gold price).

What difference between Goldmint and other gold-based cryptocurrency?

Differences   between   Goldmint   and   other  gold   cryptocurrency   blockchains  include  the  following:   

         Goldmint uses its own blockchain and altcoin, called MNT, for GOLD transactions.   
         Goldmint  uses Proof-of-Stake where miners  are  doled blocks/ transactions  according   to the  amount  of MNT they have. Proof  of  stake  (PoS)  is  faster,  simpler and                 cheaper  than proof of work (PoW). 
         Physical gold and ETFs are stored in a programmed decentralized storage unit.
         Custody Bot    -   Goldmint’s   innovative  storage unit  is programmed to automatically  identify  and  store  gold  jewelry,  small  ingots  (up  to  100  grams)  and  coins without human intervention.

With regards,
team GOLDMINT

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October 04, 2017, 08:24:33 AM
 #2662

There was something written about API? What is about?
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October 04, 2017, 08:40:09 AM
 #2663

What is a key features of GOLD cryptoasset?
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October 04, 2017, 08:51:12 AM
 #2664

this is a very good project to invest our money, but still I do not understand whether this gold token run in gold mining or just name only. thanks.
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October 04, 2017, 08:55:36 AM
 #2665

Why tokens are Gold-backed? Why not using any other precious metals or other asset?
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October 04, 2017, 09:07:34 AM
 #2666

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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October 04, 2017, 09:14:08 AM
 #2667

Why tokens are Gold-backed? Why not using any other precious metals or other asset?

I think GOLDMINT token are backed by gold because they have a proper source of receiving physical gold (some pawn shop i guess).


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Alexander KOSTIN | GoldMint


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October 04, 2017, 09:17:45 AM
 #2668

Greetings!

There was something written about API? What is about?

GoldMint  plans  to  develop  an Application Programming  Interface  (API) to regulate  GOLD. 

This will achieve the following: 

     ●   E-commerce can use GOLD for transactions. 

     ●   Local banks and Monetary Financial Institutions (MFIs) can use GOLD as collateral. 

     ●    GOLD can be used escrow for bank accounts and as financial guarantees.

What is a key features of GOLD cryptoasset?

The characteristics of the GOLD cryptoasset include the following:

        100% transparency  of  information  about  all  Gold  owned by GoldMint, disclosing the company’s  gold  reserves  and  its  ability  to  buy  back  GOLD  at  its  current  trading price. 
        GoldMint  uses the  decentralized blockchain  for  smart  contracts  and  for harboring  its  cryptoassets 
        GoldMint  uses  ETF  for  liquidity  and  elasticity.  ETF helps you trade  gold  far  faster than physical gold does
        A  secured  loan may  contain gold, like jewelry or coins. GoldMint helps you store this collateral in its unique Custody Bot.
        The ability to receive passive income as market price of GOLD rises. 
        Robotic storage unit Custody Bot                                                                                                                 
        Buyback of GOLD for fiat according to the current price of GOLD. 
        A fast user registration system and identification.

Why tokens are Gold-backed? Why not using any other precious metals or other asset?

Gold- because it is a clear metal for general public. Plus, we have a company that buys 450 kg of gold per month from pawnshops all over Russia. These are unclaimed deposits. Therefore, we have our own source of gold - we don't depend on banks.
 
Today, more than 1% of all gold is kept in pawnshops. In 53% of the cases, gold is bought as a mean of investment. Many people buy coins or small bars of gold. For them Custody Bot is an excellent solution. Coins are the easiest to examine. Initially, we set a task for our engineers to examine the quality of jewellery. They have succeeded and this is way more difficult than examining coins.

With regards,
team GOLDMINT

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October 04, 2017, 09:35:20 AM
 #2669

What will happen if audit shows that GoldMint have less physical gold, than GOLD tokens emitted?
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October 04, 2017, 09:50:13 AM
 #2670

How will amount of physical gold will be controlled?
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October 04, 2017, 09:56:25 AM
 #2671

Does any person can trade GOLD for fiat?
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October 04, 2017, 10:06:12 AM
 #2672

this is better than only fools and horses,, hilarious!!!
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October 04, 2017, 10:07:09 AM
 #2673

embarrassed by the amount raised  Huh
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Alexander KOSTIN | GoldMint


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October 04, 2017, 10:20:54 AM
 #2674

Greetings!

What will happen if audit shows that GoldMint have less physical gold, than GOLD tokens emitted?

If  the  audit  results  show  that,  the  value  of physical gold  is  less than the number  of the GOLD tokens emitted, the  excess  amount  of  GOLD  will  be  written  off  automatically from  the  company  wallet via the  smart contract.

How will amount of physical gold will be controlled?

All ratings are confirmed by bank statements which are encoded in blockchain by uploading relevant forms in IPFS to  the blockchain, thereby recording ownership of the gold to GoldMint. These documents let the system check that GoldMint company owns X amount of gold. This X is checked by an auditor from GoldMint. This number is verified each month by an objective ​TOP5 audit company. Inspection confirms that the total number of GOLD cryptoassets in all wallets (Y) is less than the total number of X ounces of gold on the balance sheet.

Does any person can trade GOLD for fiat?

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.

With regards,
team GOLDMINT

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October 04, 2017, 10:30:53 AM
 #2675

How physical gold will be stored?
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October 04, 2017, 10:39:13 AM
 #2676

What about GOLD exchange rate?
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October 04, 2017, 10:47:48 AM
 #2677

What is ETF?
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October 04, 2017, 11:01:06 AM
 #2678

"I am so happy this is not just a crypto currency and not just reliant on people buying and selling coins.
alot of thick people in the world"
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Alexander KOSTIN | GoldMint


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October 04, 2017, 11:10:25 AM
 #2679

Greetings!

How physical gold will be stored?

Physical gold is locked-up in storage and rated according to its value: 

                 Moody’s ​-  A2 and above.
                 Standard and Poor's​ - A and above. 
                 Fitch​ - A and above.

What about GOLD exchange rate?

Emission :1 GOLD = cost of 1 ounce of gold on stock exchanges + 5% commission for fiat-GOLD-fiat – no more than 4%
Buyback: 1 GOLD = cost of 1 ounce of gold on stock exchanges +  max. 5% commission for fiat-GOLD-fiat– no more than 4%

What is ETF?

ETF (Exchange Traded Funds) - An ETF, or exchange-traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange.

The three most popular ETFs are “Spiders” (ticker (NYSEARCA:SPY)), “Diamonds” (ticker (NYSEARCA:DIA)) and “Qs” or ""Qubes"" (ticker (NASDAQ:QQQ)).

Top ETFs for gold can be found on ETFDB . The commission for the management of a portfolio of gold is 0.2-0.8% per annum, depending on the volatility of gold and the inflow / outflow of investors. 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 ). Commissions and broker commissions are taken into account in calculating our commissions for GOLD.

With regards,
team GOLDMINT

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October 04, 2017, 11:22:20 AM
 #2680

How GOLD is connected with real gold?
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