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

[goodluck0319]

very frustrating indeed , need this coin to be like jesus and rise from the dead

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Greetings!

why can custody bot automate gold valuables assessment?

Custody Bot can replace pawnshops as it is more transparent and almost totally automated.

why does gold jewelry need extra examination from a specialist?

Manual inspection is needed each time gold jewelry undergoes inspection, as there is no common standard for this type of commodity.

which details of gold valuables examination are sent to the blockchain?

The details of both inspections - i.e., the data results of the spectral analysis and the hydrostatic weighing - are stored in GoldMint's blockchain. The timestamps on the valuable’s acceptance and withdrawal are also stored in blockchain. Custody Bot will be distributed in pawnshops and trade centres.

With regards,
team GOLDMINT

[strideynet]

what happens when physical gold is withdrawn from custody bot?

[chaolang]

what are the costs of custody bot development?

[makemebeat]

When was the pre-ICO? I haven't heard anything about it.

[Abitcoinfuture]

I'm in. Good luck everyone

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Greetings!

what happens when physical gold is withdrawn from custody bot?

When physical gold is withdrawn from Custody Bot, the corresponding number of GOLD assets are destroyed.

what are the costs of custody bot development?

Spectrometer = $5,000-6,000 Scales = $200-300 Internal manipulator = $2,000-5,000 Built-in PC, touch screen, keyboard = $1,000-1,500 Armored box = $2,000-7,000 Installation, adjustment and commissioning = $500-1,500 Total: $10,700 - 21,300

When was the pre-ICO? I haven't heard anything about it.

Our pre-ICO was private. We had only 300,000 tokens each presented to 27 person and 3 venture funds only.

You still can join our upcoming ICO.
You will be able to buy our tokens using your ETH or BTC.
Minimum investment can be 1 MNTP token and $7 equally.

We'll open a prior registration at goldmint.io in 2-3 days.
You'll be able to register and get access to addresses you'll use to send transfers.

With regards,
team GOLDMINT

[Kracko]

Can US/Singapore citizens participate in the ICO?

[TomKoinify]

How will be distributed tokens during ICO event?

[mika1977]

Why don't you use ETH blockchain?

[kenel]

Great! were and when it will be listed

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Greetings!

Can US/Singapore citizens participate in the ICO?

Citizens,  residents  (tax  or  otherwise)  and  green  card holder  of the United  States  of America
or  Singapore,  or  other  U.S.  or  Singapore person  are  exempt  from buying MNT tokens.  The 
term  “U.S.  or   Singapore  Person”   refers  to  anyone  who  lives  in  the  United  States  or 
Singapore  or  to  any  entity  that  is  incorporated  under  United  States  or  Singapore  law. 
American   citizens   living   abroad   can   also  be  considered  “U.S.  Persons”  under  certain 
conditions.

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.

Why don't you use ETH blockchain?

GoldMint’s blockchain, using the​ ​Graphene​ platform will be launched. 

    Advantages of such a choice compared to using an Ethereum private fork are as follows: 

        1. Safer  -  GoldMint  blockchain  uses  its  own  coins  rather  than  turing-complete  smart contracts. 
        2. More  productive  -  GoldMint  uses  PoS,  is  optimized  for  GOLD transactions  as there are no other ICOs on the same platform.   
        3. Cheaper - no charge for ether commissions. 
        4. The Graphene blockchain supports PoS.

With regards,
team GOLDMINT

[atariguy]

What about GOLD/MNT mining?

[Itcher]

Describe PoS and why you chose it? Thank you

[florianuhlemann]

how are the rewards for mining determined?

[hometester]

stay tuned. waiting bounty fb and twitter has started.

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Greetings!

What about GOLD/MNT mining?

To start mining, you just  needs  to  download  a program  from the  GoldMint repository, launch it on your device, fine-tune it and start mining. 
Consensus algorithm :  We use PoS as our primary mining system. In  case  a user who holds many MNT  doesn’t have  enough  computational power, he can rent 
computational power from other miners.

Miner rotation 
The  amount  of  stakes  depends  on the  amount  of MNT  a miner holds.  So,  if  a miner owns 50% MNT, he will be chosen to process every second block. 

Miner rewards 
A miner receives  a  GOLD commission from each processed block. When the block is processed, no tokens are emitted.

Describe PoS and why you chose it? Thank you

Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. Unlike proof-of-work (PoW) based cryptocurrencies (such as bitcoin), where the algorithm rewards participants who solve complicated cryptographical puzzles in order to validate transactions and create new blocks (i.e. mining), in PoS-based cryptocurrencies the creator of the next block is chosen in a deterministic (pseudo-random) way, and the chance that an account is chosen depends on its wealth (i.e. the stake). In PoS cryptocurrencies the blocks are usually said to be forged (in the blacksmith sense of this word), or minted, rather than mined. Also, usually all the coins are created in the beginning and the total number of coins never changes afterwards (although there are some other versions of PoS where new coins can be created). Therefore, in the basic version of PoS there are no block rewards (e.g. as in bitcoin); so, the forgers take only the transaction fees

how are the rewards for mining determined?

According to the amount of MNTs the miner has.

With regards,
team GOLDMINT

[destruct]

Greetings!

hi destruct

  I have purchased 1000 MNT/MNTP tokens out of 10 million available. this gives me ownership of 1 in every 10000 tokens.

  1) How many tokens approx would be needed to mine one GOLD block ?   The reward for mining a block would obviously be directly related to a % the total value of the GOLD block mined ?    So a more valuable block would be more profitable to mine ?

  2) Just a thought here. Would it be at all possible to combine/pool all miners  MNT/MNTP tokens together and each miner can then share EQUITABLY in the GOLD mining profits for all blocks mined based on the % of MNT/MNTP tokens they own. Each miner could then receive a % payout on a daily basis or however often you pay out commissions.  

  3) Currently you do not require purchasers of MNT/MNTP tokens to produce any form of ID. Once operational and you start paying miners commission in GOLD will you then require each miner to provide you KYC/ID personal details ?

  4) Will your new graphene blockchain be quantum proof ?

  5) Could GOLDMINT possibly set up there own in house exchange for people to trade tokens and GOLD. This would avoid price manipulation on crypto exchanges. For example Vaultoro has their own exchange on their web site.

Cheers )

1) All blocks will be distributed within active miners according to their MNT token stake. That's right. A more valuable block will be more valuable to mine.

2) Commissions are payed instantly after the block is verified. All blocks will be distributed to the stakeholders according of value block, too. But that occur with more transactions verified.

3) You don't need your ID verified for getting GOLD tokens commissions.

4) At first our blockchain will use standard cryptography methods as most of the blockchains nowadays. As soon as powerful quantum computers will appear being available to hack these blockchains we will start implementing quantum proof. But it is not expected earlier than 5-10 years.

5) That's a good idea. We will definetely discuss it before implementing.

This is really cool. Will definitely lead to a more stable token.

I am however concerned about securities laws. This is essentially a security backed by gold, which might have some legal implications.

MNT tokens pass the Howey Test, meet all the SEC requirements and can't be determined as securities. Same with GOLD tokens.

why would someone buy gold with btc.. gold is the past, bitcoin is the future

Physical Gold will not be losing it's price because it has trust within all people in the world.

What is going to happen to the tokens that will remain unsold during the ICO? Maximum supply for the goldmint is 42M right?

All these tokens will be frozen for a year and then sold to private investors for prices not cheaper than on our ICO. $42M, you are right!

With regards,
team GOLDMINT

[getwork]

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

[goodluck0319]

why is goldmint platform built on graphene?