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Author Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️  (Read 79336 times)
spiceminer15
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October 04, 2017, 12:18:39 PM
 #2701

could you give us an example number of the cost storing gold? (e.g. in the usa or switzerland)
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nenelsparadise
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October 04, 2017, 12:24:51 PM
 #2702

I support this project!
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October 04, 2017, 12:31:13 PM
 #2703

Greetings!

what is an etf and how can it back gold?

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. ETFs offer low-cost diversification, trading and arbitrage options. New ETFs range from several dozen to hundreds in any particular year. They can be used to back GOLD, since there is a high demand for ETFs in the gold market. Top ETFs for gold can be found on ETFDB.

where does goldmint store its physical gold and which etfs back gold cryptoassets?

GoldMint's gold is locked up in its storage reserves. The amount of gold and the ratings of this gold are confirmed by bank statements which are uploaded in the GoldMint blockchain to guarantee transparency.

could you give us an example number of the cost storing gold? (e.g. in the usa or switzerland)

The average fee for storing physical gold is 0,25% from its estimated value a year.

With regards,
team GOLDMINT

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October 04, 2017, 12:36:13 PM
 #2704

Excellent presentation guys and innovative approach. What are the differences bw you and other crypto gold icos?

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October 04, 2017, 06:46:54 PM
 #2705

Excellent presentation guys and innovative approach. What are the differences bw you and other crypto gold icos?
Differences  between  Goldmint  and  other gold  cryptocurrency  blockchains include the following: 

1) Goldmint uses its own blockchain and altcoin, called MNT, for GOLD transactions. 
2) 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).
3) Physical gold and ETFs are stored in a programmed decentralized storage unit.
4) 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.
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October 04, 2017, 07:53:43 PM
 #2706

Greetings!

How GOLD is connected with real gold?

GOLD  is  a  crypto  asset  issued  by  GoldMint  that  uses  the  current  price  of  gold  set  on  the LBMA exchange   at the time of sale.  

                        ●   Equal to one ounce (31,1035 grams) of gold (999 quality)  
                        ●   Shards into 100,000 parts.  
                        ●   Commissions are given in GOLD.

Information  is  transmitted  to  the  blockchain  ledger  about the number  of  ounces  of physical  

gold or ETFs owned by GoldMint. ETF is bought on  he  stock exchange NYSE, Arca​ and subsequent  information  is publicized on GoldMint’s decentralized blockchain, making  it   transparent  and open to all members. Statements are received from the depositary (electronic or printed).  

All physical gold owned by GoldMint exists in the following forms:  

               a.   Manufacturer-certified bullions  
               b.    Gold coins  
               c.   Gold jewelry  
               d.   999 quality granules, stamped by manufacturer

what is gold?

GOLD is GoldMint's cryptoasset. It’s value is aligned to the current LBMA price of gold. One GOLD equals one ounce (31,1035 grams) of gold (999 quality) on the stock exchanges + 5% commission (max.)

how is the gold asset backed by gold?

All of GoldMint's GOLD is backed by the reserves of physical gold or ETF that GoldMint has in its reserves. If there's not enough gold in GoldMint reserves, the company buys extra gold or ETFs in Switzerland.

With regards,
team GOLDMINT


I do not see much difference with a plain gold EFF, except that gold jewelry and coins are worth  less than a standard monetary bullion.

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October 04, 2017, 07:56:15 PM
 #2707

WooW! That's what I call the naturalization of the crypto currency. Good luck!
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October 05, 2017, 04:32:02 AM
 #2708

will there be any auditing of goldmint assets?
thisisnotmyltcusername
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October 05, 2017, 04:35:36 AM
 #2709

how can i buy gold?
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October 05, 2017, 04:47:32 AM
 #2710

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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October 05, 2017, 04:54:06 AM
 #2711

I like the project.,good luck team
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October 05, 2017, 05:02:36 AM
 #2712

Greetings!

will there be any auditing of goldmint assets?

An auditor from an objective TOP 100 audit company checks GoldMint's accounts each month and confirms that its gold reserves tally with its accounts and with its GOLD emission. On top of that, GoldMint has its own GoldMint internal auditor check its accounts several times a month.

how can i buy gold?

People who want to trade GOLD for fiat or cryptocurrency need to undergo GoldMint's KYC procedure. You can also get GOLD when you transfer your physical gold to Custody Bot or to GoldMint’s partner banks.

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%.

With regards,
team GOLDMINT

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October 05, 2017, 05:16:45 AM
 #2713

what can i do with gold assets?
dermo
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October 05, 2017, 05:25:40 AM
 #2714

how is gold emitted?
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October 05, 2017, 05:29:35 AM
 #2715

which is the maximum amount of gold emitted?
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October 05, 2017, 05:42:54 AM
 #2716

Interesting, i will be watching this project. Best of luck
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October 05, 2017, 05:57:27 AM
 #2717

Greetings!

what can i do with gold assets?

You can use GOLD assets for the following:
Exchange fiat to cryptocurrency - Right now the fiat-cryptocurrency exchange market exceeds $400 million. Experts predict that this will reach billions once banks regulate the cryptocurrency industry.
Hedge volatility risks - Traders and other cryptocurrency users can hedge their gold commodity with GOLD on any cryptocurrency trading exchange, without leaving that particular platform. Traders can also diversify their trading portfolio with GOLD assets.
Payroll unit- Given its low volatility, you may prefer GOLD to BTC and altcoins for paying employees. Because of its low commissions, high speed, and affordability (no extra charges for transborder payments), you can also use GOLD instead of fiat for regular deals.
ICO currency - ICOs can ask for GOLD donations instead of regular cryptocurrency funds to hedge the high volatility risks that tend to accompany cryptocurrency.
Buy and transport physical gold - You can convert your physical gold into GOLD in any bank that uses the GoldMint blockchain platform. This not only protects cross-country gold transportation but also simplifies the process.

how is gold emitted?

The amount of GOLD that is emitted depends on the amount of physical gold and ETF backing that GoldMint has in its reserves. The amount of GOLD in circulation can never exceed GoldMAn's reserves of physical gold.

which is the maximum amount of gold emitted?

The amount of GOLD emitted depends on (a) the validation of deal/ details stored in the blockchain and (b) on the authenticity and value of gold inspected by Custody Bot.

With regards,
team GOLDMINT

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October 05, 2017, 06:10:44 AM
 #2718

what are the commissions for transactions in gold?
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October 05, 2017, 06:15:41 AM
 #2719

do gold commissions depend on the country/citizenship?
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October 05, 2017, 06:18:50 AM
 #2720

how is it burned?

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