[ANN] [ICO] Auric: The New Gold Standard [ICO Sold Out. $9M Now In Reserves]

[bankgirlmjp]

Im speaking to some colleagues at work today and advising them to join Auric even if just for a few weeks and some quick profit.

[cryptodabbler2014]

I'm not telling anybody. If people don't find this, don't invest and miss out then that's their bad luck. Just the way it is!

[auric_communications]

pobble want buy the auric now for the bitcoin?  pobble email and have bitcoin now for the auric coin please

Sorry but the ICO is due for September 1st and we won't be selling Aurics before then.





Kindest Regards

Auric Communications

pobble has the 2 bitcoins want buy auric now not spetember 1

Please stop spamming the thread with buy requests, we are not starting the ICO until 1st September. If you visit then you can buy as many as you want along with other individuals and institutions.





Kindest Regards

Auric Communications

[auric_communications]

An important update for you all - unfortunately it looks like Auric is going to experience a large amount  of high volume purchases from institutions at our scheduled ICO start date of September 1st. We say this as two more investment banks have contacted us this morning enquiring about volume limits and precise start times for the ICO.

Most companies running ICOs wouldn't care about it as all they want is to sell to their hard cap of cash and/or coins. However, we really don't want all the Aurics in the hands of the banks if we can avoid it. As an open and unrestricted sale we are somewhat limited in what we can do to combat this, but we have called an urgent meeting later today to try and brainstorm a solution to help small and medium investors.

We will issue an update later today or tomorrow - you can trust us to do all we can to avoid the scenario of an institutional grab of the entire Auric supply.





Kindest Regards

Auric Communications

[blockcainproject]

Nice project. Do you have any session planned live chat b.with your CEO or CTO

[bankgirlmjp]

An important update for you all - unfortunately it looks like Auric is going to experience a large amount  of high volume purchases from institutions at our scheduled ICO start date of September 1st. We say this as two more investment banks have contacted us this morning enquiring about volume limits and precise start times for the ICO.

Most companies running ICOs wouldn't care about it as all they want is to sell to their hard cap of cash and/or coins. However, we really don't want all the Aurics in the hands of the banks if we can avoid it. As an open and unrestricted sale we are somewhat limited in what we can do to combat this, but we have called an urgent meeting later today to try and brainstorm a solution to help small and medium investors.

We will issue an update later today or tomorrow - you can trust us to do all we can to avoid the scenario of an institutional grab of the entire Auric supply.





Kindest Regards

Auric Communications

I work in that industry and am not surprised. Sharks always sniff out such things. Glad you are not forgetting your smaller investors.

[auric_communications]

Nice project. Do you have any session planned live chat b.with your CEO or CTO

Thank you, that is a great idea. We do have a Telegram account @auric_communications where we answer a lot of queries about the project but we can certainly create a chat channel for that purpose. We will find a convenient window for the CEO and the VPs and make it happen asap.





Kindest Regards

Auric Communications

[usercryptomany]

How can you be sure that your coin will be backed by gold is valid ? You will need to periodically conduct an audit to the coin had value .  Who will conduct the audit ? or do we have to take our word for it ? Thanks.

Our auditing plans are addressed in the 'Auditing' section of our whitepaper, and below is a copy of the answer given earlier in this thread to a similar question, which we trust addresses your point:

"Thank you for raising a very valid point. Auditing is being done by Deloitte, one of the leading companies in that particular field. Initial audit will take place immediately at the close of the ICO to confirm the money flows from incoming crypto, fiat conversion and subsequent gold purchases. It enables investors to track for themselves that all funds have been converted into gold, with no leakage. It will also show more generally the connected legal provisions governing the use and conversion of these assets. After that, we will be having interim compliance audits every six months in addition to full end-of-year accounts as normal. All of this information will be accessible to investors."






Kindest Regards

Auric Communications

Thanks for explaining ! If you bring the idea to life, the cryptocurrency market will see a new stable coin . I wish you good luck, nice when the developers answer the questions .

[auric_communications]

How can you be sure that your coin will be backed by gold is valid ? You will need to periodically conduct an audit to the coin had value .  Who will conduct the audit ? or do we have to take our word for it ? Thanks.

Our auditing plans are addressed in the 'Auditing' section of our whitepaper, and below is a copy of the answer given earlier in this thread to a similar question, which we trust addresses your point:

"Thank you for raising a very valid point. Auditing is being done by Deloitte, one of the leading companies in that particular field. Initial audit will take place immediately at the close of the ICO to confirm the money flows from incoming crypto, fiat conversion and subsequent gold purchases. It enables investors to track for themselves that all funds have been converted into gold, with no leakage. It will also show more generally the connected legal provisions governing the use and conversion of these assets. After that, we will be having interim compliance audits every six months in addition to full end-of-year accounts as normal. All of this information will be accessible to investors."






Kindest Regards

Auric Communications

Thanks for explaining ! If you bring the idea to life, the cryptocurrency market will see a new stable coin . I wish you good luck, nice when the developers answer the questions .

Thank you for the support, Auric should be both a stable and appreciating coin and we do hope it signifies a change in that regard and manages to decouple from bitcoin price movements as a side-effect.





Kindest Regards

Auric Communications

[pobble4lobble]

pobble now wait ICO for the auric and invest bitcoin for the auric coin please

[cryptodabbler2014]

Yes if institutions are going to grab all the Auric coins then you sure need to do something about it. that's my view.

[auric_communications]

It's turning out to be a busy day as we try to work out what to do about the large buys that are going to occur when the ICO starts, and the risk that smaller investors could miss out altogether as a result of them. One option discussed at our meeting is to have what our FD called a 'flash ICO' where we sell a small percentage of the total supply over a period, for example, of one day and hold that sometime before the main ICO. Keep the pricing the same, still have the main ICO on September 1st as planned, but by selling this small amount early we give more opportunity for the smaller and medium investors as the flash sale amount would be below some of the amounts that hedge funds and investment groups have been contacting us about. Therefore, they wouldn't buy in it and would wait for the main ICO as before.

We're going to have a further meeting about this tomorrow after we've all slept on it but this could well be a good option. We're talking about maybe 10% of the total supply going up early for everyone to buy, on the same terms as the main ICO and with the same gold backing. We would have no problem doing it as the systems have all been in place for the last couple of weeks now. And if we don't sell the full 10% in the flash sale that would be fine, it would just carry over to the main ICO.

Will let you all know tomorrow what's happening, after we all have had a little more time to consider it.





Kindest Regards

Auric Communications

[jenniferwilson34]

if you do an early ico or part ico or whatever you call it I would be interested in it and it makes sense what you're saying so please go ahead if there really is risk of us all missing out to the bloody bankers

[cryptodabbler2014]

IT does say september 1st on here on the website and in the whitepaper though? but i guess if the main ico still happens on that date its fair enough to sell a small amount earlier if it helps small investors like myself!

[auric_communications]

IT does say september 1st on here on the website and in the whitepaper though? but i guess if the main ico still happens on that date its fair enough to sell a small amount earlier if it helps small investors like myself!

If we do a flash ICO it would only be for a small part of the total Auric supply...and the only reason we are even considering doing one is to help small investors such as yourself, you are correct. More news tomorrow.






Kindest Regards

Auric Communications

[pobble4lobble]

pobble may be able buy early coin with the bitcoin then?

[auric_communications]

Important Update: We've decided to go with the Flash ICO option to help spread out the demand for Auric. It will take place for eight hours on Saturday 18th August between 1600 UTC and 0000. Buying terms are the same as with the full ICO on September 1st and we will be selling just 10% of the total supply ie 800,000 Aurics.

Full update later.






Kindest Regards

Auric Communications

[bankgirlmjp]

OK I'm in for that, will be cool to get mine bought early and have it out of the way before the mad rush on the main ICO.

[Noruka]

Another gold backed coin. It's very difficult for anyone to validate whether all the gold that is promised is really where you say it is.

At Auric we understand that concern - it's why we will have full independent auditing showing complete money flows from the ICO onward, in terms of incoming funds, purchases and total amounts of gold, issuance of Auric coins and double entry ledgers confirming balances. There is more on that in the Auditing section in the white paper.

Auric is also rather different as the currency is transferable for its assigned gold value (weight) at any time via the Auric Market. This provides concrete support at the ICO price level, security for investors, strong fundamentals, and a future dividend style payment when we reach the possible stage of the Gold Store dissolution (again, addressed at length in the white paper)

Auric is a very different animal to most coins past and present!





Kindest Regards

Auric Communications

Which company will provide the auditing services and how often will those audits take place? There is still a lot of uncertainty for buyers whether everything is in order at any point in time.

Thank you for raising a very valid point. Auditing is being done by Deloitte, one of the leading companies in that particular field. Initial audit will take place immediately at the close of the ICO to confirm the money flows from incoming crypto, fiat conversion and subsequent gold purchases. It enables investors to track for themselves that all funds have been converted into gold, with no leakage. It will also show more generally the connected legal provisions governing the use and conversion of these assets. After that, we will be having interim compliance audits every six months in addition to full end-of-year accounts as normal. All of this information will be accessible to investors.





Kindest Regards

Auric Communications

Do you have a signed contract with Deloitte or something you can publicly show? It would generate most confidence if someone from Deloitte confirms that they have been contracted by you.

[cryptodabbler2014]

Important Update: We've decided to go with the Flash ICO option to help spread out the demand for Auric. It will take place for eight hours on Saturday 18th August between 1600 UTC and 0000. Buying terms are the same as with the full ICO on September 1st and we will be selling just 10% of the total supply ie 800,000 Aurics.

Full update later.






Kindest Regards

Auric Communications

When I first saw this I though oh here we go, pre-ico etc and all that nonsense but now I read it I can see what you're doing and why. And after trying to buy something this morning that sold out in literally the first minute everywhere (a limited edition console rather than crypto, I hasten to add) and feeling very annoyed about it, I can appreciate this idea even more.