⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️

[thisisnotmyltcusername]

I will be following the project.

[ianp]

what is goldmint?

[dermo]

what is the key idea of the project?

[BazkieBumpercar]

how are the commissions distributed?

[destruct]

Greetings!

I just found your thread, dev! So, I have not read the whitepaper and the project yet, but apparently I can do some quesitonamentos! Why did you choose this segment? Some current projects had difficulties with regulations and legalities, regarding these problems, your project is exempt?

This segment has been chosen because our founders have an operating business with $12M and 400kg gold turnover. They buy unwanted gold jewellery, process it and then sell it wholesale to jewellers. They know what lacks to the physical gold market and here is their solution. We have a compliance review made by american lawyers that our MNTP tokens can't be determined as securities.

Where are your plans to have goldmint coin be listed after the ico?

After the ICO all ERC20 exchanges would be able to list our MNTP tokens. We have a compliance review and we share it with our potential participants in our telegram chat. https://t.me/goldmintio

How can an asset which is sold at $2-$7 then become pegged to the price of 1 oz of gold?

It doesn't make business sense how $2 can become $1300. Unless you like giving away free gold? 

You are talking about MNTP tokens be selling on our upcoming ICO from 20th of September $7 each. They are not gold-backed and will bring profits to the holders via the PoS consensus algorithm according to their stakes. Stakeholders will validate transaction blocks verifying GOLD token transactions. GOLD token price is tied to the troy gold ounce price. I would like you to read our White Paper for more details. GOLDMINT.io/white-paper

With regards,
team GOLDMINT

[destruct]

Greetings!

what is goldmint?

GoldMint is a blockchain-based company that helps gold owners trade, loan, invest in and use their GOLD assets, that are 100% backed by physical gold, for profit.

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 are the commissions distributed?

75% of GOLD commissions are sent to miners/ MNT holders as rewards for verifying blocks. The other 25% are directed to charity and platform development.

With regards,
team GOLDMINT

[destruct]

Greetings!

So when you mint a block using your MNT, your reward is based on the total value (in GOLD) of all the transactions in the block?

EXAMPLE:

Let the commission be x = .02 (2%)
With a block with the following transactions

A sends B 2 GOLD
C sends D 5 GOLD
E sends F 8 GOLD

The total exchanged on the block is 15 GOLD.

Your reward is 15*x == 15*.02 == 0.3 GOLD

Is this how it works, if so what is x?  If not what have I misunderstood?

GOLD token Transaction fee is 0,3%. 75% of it goes to the validators. Each block is validated by one of the validators active. Blocks are spread between validators according to their value and tokenholders stakes. What is X? In your calculations it appears as a transaction fee but it is 0,3.

Could someone give me link to GOLDMINT website? It seems that I have missed it out...
Reentering to price, how about stock exchanges? How can 1 GOLDMINT represent current gold price if:
I have 1 goldmint and I will sell its by 3 times more than real price of gold? And later everyone will make the same thing because of huge deman.
So goldmint can be only more expensive or the same expensive as gold in blockchain/exchange?Correct me, if I am way off base.

GOLDMINT.io

GOLD tokens always have a price tied to gold troy ounce and nobody would be interested to buy more expensive than it is. We are going to have two tokens one is MNTP appearing on our crowdsale, another is GOLD which appears after the launch of our Graphene based blockchain.

With regards,
team GOLDMINT

[thisisnotmyltcusername]

How can MNT tokens be purchased?

[qberty]

How will be distributed tokens during ICO event?

[CryptoPromotions]

What happens in case the loan is not repaid?

[ianp]

How is my income calculated? (provide an example here as well)

[nenelsparadise]

This looks very worth watching.
Seriously.

[destruct]

Greetings!

How will be distributed tokens during ICO event?

"Release  of  MNT  tokens  are  done  by  Ethereum-based  smart  contracts,  specially  used  for distribution of tokens.   
80% of 10 000 000 MNT are released during ICO launch. 
GoldMint  team  receives  two  million  MNT  tokens,  and  no  more  than  500  000  per  quarter distributed via a special wallet. 
Some consultants receive MNT tokens two months after ICO launch. 
Smart contracts can automatically trade ETH into MNT. 
The number  of tokens to be transmitted to a particular user depends on the sum at the time of its receipt by GoldMint.  "

What happens in case the loan is not repaid?

If the borrower defaults, his GOLD cryptoassets are transferred to GoldMint.

How is my income calculated? (provide an example here as well)

The amount payable to the investor is the following: SUM = (1 + (X / 12) * T) * Q where the number X (i.e., x%) is set by GoldMint based on market conditions. T= the amount of months the gold was loaned. Q= the interest tagged to the loan. Example: As of August 2017, the parameters would be X = 10%, Y = 28% per annum, and T = 1 year. This means that GoldMint receives 28% per year, an annual 10% of which goes to the investor.


With regards,
team GOLDMINT

[ahitman]

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

[thisisnotmyltcusername]

Does mnt act like a goldmint share?

[ianp]

Interesting... Watching!

[dermo]

Which data will be stored on graphene blockchain?

[destruct]

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.

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.

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.



With regards,
team GOLDMINT

[BazkieBumpercar]

What is gold?

[granathus]

Looking good. Got my eye in this. What will happen to the classic chain.