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Author Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️  (Read 87241 times)
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October 12, 2017, 10:31:24 AM
 #3021

A chance to be;  Strange alt of the week
"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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October 12, 2017, 10:39:32 AM
 #3022

Greetings!

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.

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.

With regards,
team GOLDMINT


BazkieBumpercar
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October 12, 2017, 10:50:22 AM
 #3023

What about GOLD exchange rate?
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October 12, 2017, 10:53:00 AM
 #3024

What is ETF?
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October 12, 2017, 11:00:06 AM
 #3025

How GOLD is connected with real gold?
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October 12, 2017, 11:06:04 AM
 #3026

Im seriously bloody impressed! Its just beyond my mental capacity to understand.
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October 12, 2017, 11:16:41 AM
 #3027

Greetings!

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.

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

With regards,
team GOLDMINT

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October 12, 2017, 11:25:47 AM
 #3028

what is gold?
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October 12, 2017, 11:36:36 AM
 #3029

how is the gold asset backed by gold?
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October 12, 2017, 11:44:33 AM
 #3030

what is an etf and how can it back gold?
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October 12, 2017, 11:51:25 AM
 #3031

interesting, keep watch
nenelsparadise
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October 12, 2017, 11:56:08 AM
 #3032

No Twitter or Facebook to help promote?
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October 12, 2017, 12:09:09 PM
 #3033

Greetings!

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.

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.

With regards,
team GOLDMINT

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October 12, 2017, 12:24:46 PM
 #3034

where does goldmint store its physical gold and which etfs back gold cryptoassets?
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October 12, 2017, 12:35:01 PM
 #3035

could you give us an example number of the cost storing gold? (e.g. in the usa or switzerland)
ahitman
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October 12, 2017, 12:42:14 PM
 #3036

will there be any auditing of goldmint assets?
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October 12, 2017, 12:50:05 PM
 #3037

I see goldmint as the world currency of the whole world.
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October 12, 2017, 12:53:41 PM
 #3038

Hi devs, what do you mean by ETF ?
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October 12, 2017, 12:55:46 PM
 #3039

Greetings!

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.

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.

With regards,
team GOLDMINT

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October 13, 2017, 02:37:42 AM
 #3040

how can i buy gold?
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