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 Author Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. \$7.3M collected.⚡️⚡️⚡️  (Read 97893 times)
dcl595
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 September 21, 2017, 09:49:05 AM

what are some of the gold applications?
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1561562545
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code
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 September 21, 2017, 09:55:17 AM

actudoran
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 September 21, 2017, 10:01:01 AM

which other elements does the goldmint infrastructure include?
destruct
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 September 21, 2017, 10:09:48 AM

Greetings!

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.

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.

which other elements does the goldmint infrastructure include?

Graphene hosts the Graphene blockchain, API and a crypto exchange for GOLD trade.

With regards,
team GOLDMINT

spiceminer15
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 September 21, 2017, 10:15:35 AM

what is the use of api implementation?
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 September 21, 2017, 10:23:15 AM

CryptoPromotions
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 September 21, 2017, 10:29:19 AM

I support this project!
qberty
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 September 21, 2017, 10:34:20 AM

What commission you hold?
destruct
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 September 21, 2017, 10:40:44 AM

Greetings!

what is the use of api implementation?

The Application Programming Interface (API) regulates the GOLD, distributing these tokens to the following entities: E-commerce that can use GOLD for transactions. Local banks and Monetary Financial Institutions (MFIs) that can use GOLD as collateral. The API also regulates the GOLD that is used as escrow for bank accounts and as financial guarantees.

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).

With regards,
team GOLDMINT

ahitman
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 September 21, 2017, 10:46:10 AM

What difference between Goldmint and other gold-based cryptocurrency?
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 September 21, 2017, 10:52:11 AM

ianp
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 September 21, 2017, 10:57:23 AM

I like the project.,good luck team
dermo
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 September 21, 2017, 11:03:33 AM

What is a key features of GOLD cryptoasset?
destruct
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 September 21, 2017, 11:09:40 AM

Greetings!

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.

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.

BazkieBumpercar
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 September 21, 2017, 11:26:51 AM

Interesting, i will be watching this project
Best of luck
granathus
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 September 21, 2017, 11:32:05 AM

Why tokens are Gold-backed? Why not using any other precious metals or other asset?
DeeSome
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 September 21, 2017, 11:37:34 AM

What will happen if audit shows that GoldMint have less physical gold, than GOLD tokens emitted?
dcl595
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 September 21, 2017, 11:42:38 AM

How will amount of physical gold will be controlled?
destruct
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 September 21, 2017, 11:48:06 AM

Greetings!

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

Gold- because it is a clear metal for general public. Plus, we have a company that buys 450 kg of gold per month from pawnshops all over Russia. These are unclaimed deposits. Therefore, we have our own source of gold - we don't depend on banks.

Today, more than 1% of all gold is kept in pawnshops. In 53% of the cases, gold is bought as a mean of investment. Many people buy coins or small bars of gold. For them Custody Bot is an excellent solution. Coins are the easiest to examine. Initially, we set a task for our engineers to examine the quality of jewellery. They have succeeded and this is way more difficult than examining coins.

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.

With regards,
team GOLDMINT

LeyMonte
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 September 21, 2017, 11:50:50 AM

is the real price of one MNT is 7\$? since your ico went live, how much you are considering as your soft cap?

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