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

[ahitman]

as a trader only i dont give a shit.

[thisisnotmyltcusername]

What commission you hold?

[ianp]

What difference between Goldmint and other gold-based cryptocurrency?

[destruct]

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The aspects of tokenized gold solutions
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How GoldMint backs its assets?
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The concept of 100% backed digital assets is not up to the minute with the emergence and rapid growth of new technologies. The volatility of the very first crypto coins in the market manifest the necessity to hedge the risks with a stable currency. Be it gold, dollars, mac laptops or pieces of arts, no matter what commodity or asset they are backed with, their value should stay in sync with the commodity’s price in the real market and that stays a prime challenge to achieve. The concept is not complicated but the latest efforts to bring the idea to life have not been widely adopted yet.

Cryptocurrencies have captured the imagination of many and thus, the idea of assets (other than money) backed digital currency is gaining more acceptance. While Gold continues to storm the global investment market, bringing it closer to cryptocurrencies will assure a trustworthy physical backing.
Digix, one of the most well-known stable currency projects, has recently posted an overview of the existing and upcoming solutions in the industry of tokenized gold.

Having a complicated audit system, Digix ensures the transparency and the backing of their DGX tokens but the gold token has not been released yet and the capitalization of the company grows mostly due to the speculative price growth of DAO token. The emergence of DAO platform and a tokenized gold asset is a tremendous initiative as it ensures development of all the companies prevalent in the market. So, the new attempts to create digital gold asset were done but none of these have succeeded yet and encouraged the cryptogold which can be exchanged easily in the market.

GoldMint project is led by a team of Russian developers who have extensive experience in managing physical gold. LOT-ZOLOTO, a company founded by GoldMint’s CEO Dmitry Pluschevsky, has exceeded the trading volume of $10 million in March, 2017. The perfect understanding of the market provided the GoldMint’s team with an opportunity to develop a platform which is more than just digital gold asset blockchain. GOLD, digitized gold, and Custody Bot, a vending gold storage machine, are the two independent products of GoldMint that heralds a mark in the evolution of ‘smart contracts’.

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GOLD backing: storage and audit
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GOLD is backed by physical gold of 999 quality or ETF bought on the stock exchange NYSE Arca. ETFs are used as a backing instrument as they are a more portable and convenient instrument for storing gold value compared to physical gold. Still, the Company proposes to partly back the value of its GOLD by physical gold:
All physical gold owned by GoldMint exists in the following forms:

1. Manufacturer-certified bullions
2. Gold coins
3. Gold jewelry
4. 999 quality granules, stamped by manufacturer

As stated in the White Paper, “Physical gold is locked-up in storage and rated according to its value:

1. Moody’s — A2 and above.
2. Standard & Poor’s — A and above.
3. Fitch — A and above”.

All the transactions on deposing and withdrawing gold are confirmed by bank statements which are encoded by uploading relevant forms in GoldMint blockchain. These documents allow the system to check that GoldMint company owns the particular amount of gold.

The gold storage is regularly audited by an auditor from GoldMint and by any one of the TOP 100 audit company monthly.

For more information of Gold backing and storage, read GoldMint’s White Paper section 4.1.1. Gold Emission.

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GOLD purchase and redemption
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As you can see in the infographics above, the process of GoldMint purchase and redemption is quite simple and infuses KYC procedure. As soon as GOLD is sold, the digital assets are burnt to persistently maintain the ratio of 1:1 between physical gold/ETF and GOLD asset . The commission for FIAT — GOLD — FIAT transactions is 2% of gold market price for the whole circle.

Staying intact to transparency and accuracy, GoldMint unlatches the potential of world’s most valued asset through an effective trading platform. As the interest of the investor grows towards tokenized Gold, GoldMint’s Blockchain lets you utilize the commodity in different ways and up scales its exchangeability.

Stay connected for more on GOLD!

[destruct]

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

[dermo]

There was something written about API? What is about?

[BazkieBumpercar]

What is a key features of GOLD cryptoasset?

[blackbird123]

I see in the community there is a coin called "gold coin", this root GOLDMINT What is the difference? Is a team Mody, too much coins too much, simply can not distinguish

[granathus]

This looks very worth watching.
Seriously.

[DeeSome]

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

[destruct]

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We are set to transform the business processes of over 2000 jewelry companies from around the world.
Our physical gold reserve will also allow the growing number of Indian Bitcoin miners to transfer their bitcoins into physical gold.
Both groups are preparing to invest in our preliminary MNTP tokens.
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[destruct]

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?      

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.

With regards,
team GOLDMINT

[dcl595]

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

[code]

How will amount of physical gold will be controlled?

[actudoran]

too complicated for most of people.. I think

[spiceminer15]

Does any person can trade GOLD for fiat?

[sincntx]

Gold is always goods to invest, but i don't have confidence that we really need it. because there are alredy many gold ETF in real world.

[destruct]

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

[nenelsparadise]

How physical gold will be stored?

[CryptoPromotions]

What about GOLD exchange rate?