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Author Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️  (Read 168798 times)
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September 15, 2017, 08:55:07 AM
 #621

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


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September 15, 2017, 08:59:22 AM
 #622

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 15, 2017, 09:06:03 AM
 #623

I know there are a few coins that are backed by gold. I've been following Xaurum for example.
Can you explain what are the diferences between GoldMint and Xaurum if you know maybe?
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September 15, 2017, 09:10:24 AM
 #624

What is trust management?
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September 15, 2017, 09:15:51 AM
 #625

Looking good. Got my eye in this. What will happen to the classic chain.
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September 15, 2017, 09:19:29 AM
 #626

I know there are a few coins that are backed by gold. I've been following Xaurum for example.
Can you explain what are the diferences between GoldMint and Xaurum if you know maybe?

As far as I have researched, it has 2 main differences.
1st GoldMint holds phisical gold and/or ETF as backing in contrast to Xaurum which holds only Phisical gold.
2nd GoldMint has fix backing, so it's like holding phisical gold or ETF, Xaurum has growing gold base. This means that in the first moment ammount of backing is on GoldMint side since it is 100% backed by gold and Xaurum is not, but eventualy you will have more backing in Xaurum since it has growing gold base.
Both coins have some additional features which makes them unique.
They are both good on the field where they are playing although GoldMint still have time to prove it since it is on the begining of the road. I believe it will.
As far as I understand GoldMint is more on the field of hedging and security, but Xaurum with growing gold base brings more potential growth.

Please devs correct me if I'm wrong.
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September 15, 2017, 09:23:23 AM
 #627

How do they work?
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September 15, 2017, 09:30:29 AM
 #628

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


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September 15, 2017, 09:36:09 AM
 #629

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?


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


With regards,
team GOLDMINT

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September 15, 2017, 09:45:05 AM
 #630

Which assets can be deposited to the custody bot?
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September 15, 2017, 09:51:21 AM
 #631

Does mnt act like a goldmint share?
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September 15, 2017, 09:55:21 AM
 #632

What are some of the GOLD applications?
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September 15, 2017, 10:00:25 AM
 #633

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


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September 15, 2017, 10:08:59 AM
 #634

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 15, 2017, 10:11:15 AM
 #635

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 15, 2017, 10:15:11 AM
 #636

Looking good. Got my eye in this. What will happen to the classic chain.
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September 15, 2017, 10:20:19 AM
 #637

What is the key idea of the project?
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September 15, 2017, 10:25:32 AM
 #638

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


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September 15, 2017, 10:30:31 AM
 #639

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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September 15, 2017, 10:35:25 AM
 #640

Which rights does MNT provide its holders with?
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