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

[auric_communications]

How those gold will provide to investor?

The gold backing is mainly a system to support the price of Auric in its early stages. By giving each coin an intrinsic value of 0.001oz of gold at the time of the ICO and backing this with accounts holding the equivalent weight of gold, it ensures that Auric has that as a true value to start with, separate from its value as a cryptocurrency. We offer, via the Auric Market, a means to exchange Auric coins for gold to the sum of the weight exchanged. This both provides price support as well as giving early investors a means to change asset class should they desire.

It's rather in-depth to explain in a post - we would advise downloading our white paper (links on the front page of this thread and our website) for full details. But basically, it ensure the price is supported and also means you always hold coins that are actually worth something in their own right, regardless of their natural price appreciation.






Kindest Regards

Auric Communications

[jenniferwilson34]

i can't see anything on the website at all about this flash ico thats happening on Saturday? id like to buy then too because i haven't got the energy to try and compete against institutional investors if they're going to grab them all in the proper ico. So i hope this flash ico is actually happening.

[pobble4lobble]

pobble buy the auric 18 august for the bitcoin and happy auric team that are doing this for us

[auric_communications]

So the official news from us here at Auric is that we have decided after a day of consideration to go with the 8 hour Flash ICO on Saturday 18th August 1600 UTC to 0000, as previously discussed. It's not a perfect solution, but it should help spread the ownership of Auric coins further and reduce the risk of an institutional lockout come the main ICO on September 1st.

There will be just 10% of the total Auric supply on offer (800,000 coins), at the same terms as the main ICO ie a BTC or ETH equivalent of 0.001oz of Gold per coin. This price will be rounded to the nearest 100 Aurics and will be displayed at a rate of Aurics/BTC and Aurics/ETH. The actual rate will depend on the price of the purchasing cryptocurrency and the daily spot price of gold, as per the formula in the whitepaper. Minimum purchase spend is either 0.02 BTC or 0.3 ETH, thereafter going up in multiples of 0.01 BTC and 0.1 ETH. Simply complete the form with the amount of currency you're looking to convert to Auric and we will provide you with a personalised invoice for your purchase.

All will become clear when you visit the Flash ICO link on the website, which we will turn on sometime nearer the end of the week. We will also link it to this thread for convenience.

We hope you all understand and appreciate the reasons we are doing this. It's purely to help the community - it is creating a lot of extra work for us, but we all feel it's the right thing to do to combat mass buys of our precious Auric coins and spread them further amongst the investors. More news later in the week.






Kindest Regards

Auric Communications

[jenniferwilson34]

Good. thank you for that update im looking forward to getting my auric coins sorted at the weekend. sept 1 seems ages away and sounds like it will all be taken by bloody insititutions anyway so bring on this flash ico

[cryptodabbler2014]

So the official news from us here at Auric is that we have decided after a day of consideration to go with the 8 hour Flash ICO on Saturday 18th August 1600 UTC to 0000, as previously discussed. It's not a perfect solution, but it should help spread the ownership of Auric coins further and reduce the risk of an institutional lockout come the main ICO on September 1st.

There will be just 10% of the total Auric supply on offer (800,000 coins), at the same terms as the main ICO ie a BTC or ETH equivalent of 0.001oz of Gold per coin. This price will be rounded to the nearest 100 Aurics and will be displayed at a rate of Aurics/BTC and Aurics/ETH. The actual rate will depend on the price of the purchasing cryptocurrency and the daily spot price of gold, as per the formula in the whitepaper. Minimum purchase spend is either 0.02 BTC or 0.3 ETH, thereafter going up in multiples of 0.01 BTC and 0.1 ETH. Simply complete the form with the amount of currency you're looking to convert to Auric and we will provide you with a personalised invoice for your purchase.

All will become clear when you visit the Flash ICO link on the website, which we will turn on sometime nearer the end of the week. We will also link it to this thread for convenience.

We hope you all understand and appreciate the reasons we are doing this. It's purely to help the community - it is creating a lot of extra work for us, but we all feel it's the right thing to do to combat mass buys of our precious Auric coins and spread them further amongst the investors. More news later in the week.






Kindest Regards

Auric Communications

+1 for your plan. I'll be there on Saturday

[auric_communications]

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.

Thank you for your comment, that's a great idea. Deloitte will be listing our audit documents publicly very shortly, but in the meantime we can certainly do that, I'll ask our financial team to sort it out asap. We may have to redact certain parts of it of course, but will be able to display the key information showing our relationship with Deloitte.






Kindest Regards

Auric Communications

[pobble4lobble]

pobble has the bitcoin to buy the auric coin and likes the Saturday Ico thanks you auric for this quick buy

[Nick808]

So the official news from us here at Auric is that we have decided after a day of consideration to go with the 8 hour Flash ICO on Saturday 18th August 1600 UTC to 0000, as previously discussed. It's not a perfect solution, but it should help spread the ownership of Auric coins further and reduce the risk of an institutional lockout come the main ICO on September 1st.

There will be just 10% of the total Auric supply on offer (800,000 coins), at the same terms as the main ICO ie a BTC or ETH equivalent of 0.001oz of Gold per coin. This price will be rounded to the nearest 100 Aurics and will be displayed at a rate of Aurics/BTC and Aurics/ETH. The actual rate will depend on the price of the purchasing cryptocurrency and the daily spot price of gold, as per the formula in the whitepaper. Minimum purchase spend is either 0.02 BTC or 0.3 ETH, thereafter going up in multiples of 0.01 BTC and 0.1 ETH. Simply complete the form with the amount of currency you're looking to convert to Auric and we will provide you with a personalised invoice for your purchase.

All will become clear when you visit the Flash ICO link on the website, which we will turn on sometime nearer the end of the week. We will also link it to this thread for convenience.

We hope you all understand and appreciate the reasons we are doing this. It's purely to help the community - it is creating a lot of extra work for us, but we all feel it's the right thing to do to combat mass buys of our precious Auric coins and spread them further amongst the investors. More news later in the week.






Kindest Regards

Auric Communications

+1 for your plan. I'll be there on Saturday

what is the value of the token? because if you buy gold it should be stored somewhere and you pass an audit. can you look at such an audit? you understand that on one word we bought we can not believe that this is the market.

[auric_communications]

So the official news from us here at Auric is that we have decided after a day of consideration to go with the 8 hour Flash ICO on Saturday 18th August 1600 UTC to 0000, as previously discussed. It's not a perfect solution, but it should help spread the ownership of Auric coins further and reduce the risk of an institutional lockout come the main ICO on September 1st.

There will be just 10% of the total Auric supply on offer (800,000 coins), at the same terms as the main ICO ie a BTC or ETH equivalent of 0.001oz of Gold per coin. This price will be rounded to the nearest 100 Aurics and will be displayed at a rate of Aurics/BTC and Aurics/ETH. The actual rate will depend on the price of the purchasing cryptocurrency and the daily spot price of gold, as per the formula in the whitepaper. Minimum purchase spend is either 0.02 BTC or 0.3 ETH, thereafter going up in multiples of 0.01 BTC and 0.1 ETH. Simply complete the form with the amount of currency you're looking to convert to Auric and we will provide you with a personalised invoice for your purchase.

All will become clear when you visit the Flash ICO link on the website, which we will turn on sometime nearer the end of the week. We will also link it to this thread for convenience.

We hope you all understand and appreciate the reasons we are doing this. It's purely to help the community - it is creating a lot of extra work for us, but we all feel it's the right thing to do to combat mass buys of our precious Auric coins and spread them further amongst the investors. More news later in the week.






Kindest Regards

Auric Communications

+1 for your plan. I'll be there on Saturday

what is the value of the token? because if you buy gold it should be stored somewhere and you pass an audit. can you look at such an audit? you understand that on one word we bought we can not believe that this is the market.

Thank you for your comments. This is all covered briefly on our website, and in great detail in our white paper. It's also been raised and answered in this thread, but we appreciate it's a key difference with Auric.

Very basically, each Auric is worth 0.001oz of gold and is priced accordingly during the ICO. This is matched by an equivalent amount of gold stored in merchant accounts at three depositories. Auric's will always have this reserve value that is redeemable for that quantity of gold, regardless of their natural price appreciation against fiat. A perfect solution for protection in uncertain markets, we feel. All of this is audited by Deloitte, and all money flows and balances from the ICO onwards are viewable to all investors for transparency.

Again though, for full details we would refer you to our white paper but thank you for your interest.






Kindest Regards

Auric Communications

[bankgirlmjp]

yeah, with the gold value on each coin this is probably the only alt that is safe to be in at the moment haha. Obviously I wish I'd got out of Eth and the rest of my alts and moved to bitcoin now, but will now be transferring most of them to this on Saturday, who wants to be holding Eth when the chairs stop moving? Not me.

[cryptodabbler2014]

yeah, with the gold value on each coin this is probably the only alt that is safe to be in at the moment haha. Obviously I wish I'd got out of Eth and the rest of my alts and moved to bitcoin now, but will now be transferring most of them to this on Saturday, who wants to be holding Eth when the chairs stop moving? Not me.

This market feels like it did when I first entered crypto in 2014. Except that altcoins are the ones really being hit this time. Auric makes sense as a shelter at this tricky period if nothing else. I plan to hodl but heck I might even sell them out for gold if it comes to it. Ethereum is being exposed as a busted flush tbh I'm surprised Auric team are still accepting them in the ICOs. Suppose they have it in their white paper and website and would look bad to cancel it as a payment option. Not complaining though, I will be glad to get rid of them. Auric will be as close to an uncoupled crypto as you can get right now.

[auric_communications]

We've had a number of messages, especially over Telegram, asking about the Flash ICO and how much the tokens will be. The price will depend on the spot price of gold on the day, ie the 18th August. At the moment, the price of gold is close to $1,200 per ounce so the price per Auric would be 1/1000 of that so around $1.20 each. The amount of Auric you would receive per BTC or ETH would obviously depend on the value of those crypto assets on the day also, and with the current volatility in those markets it's wise not to make a prediction.

However, it's worth remembering that whatever the price of Auric is (let's say $1.20 for the sake of argument), this same amount of gold will be added to our stores..so the Auric that you purchase will have that actual 0.001oz of value should you exercise the option to trade it for gold via the Auric Market. It will still have that gold exchange value should the market take another tumble. And should Auric experience strong price rises, you still have that security of the 0.001oz value to fall back on as a guaranteed minimum value (in terms of gold weight). For ICO investors, it's a perfect solution.  NB For a mathematical analysis of the possible paths that the price of Auric could take, using monte carlo simulations and fan charts, please see the relevant section near the end of our white paper. We hope this helps to explain things, do not hesitate to contact us if you need further clarification on any of it.

In related news, we expect to update the website to display the Flash ICO link sometime on Friday, although the form to submit your purchases via that will not become active until 1600 UTC on the Saturday, when the Flash ICO itself begins.






Kindest Regards

Auric Communications

[jenniferwilson34]

yeah, with the gold value on each coin this is probably the only alt that is safe to be in at the moment haha. Obviously I wish I'd got out of Eth and the rest of my alts and moved to bitcoin now, but will now be transferring most of them to this on Saturday, who wants to be holding Eth when the chairs stop moving? Not me.

This market feels like it did when I first entered crypto in 2014. Except that altcoins are the ones really being hit this time. Auric makes sense as a shelter at this tricky period if nothing else. I plan to hodl but heck I might even sell them out for gold if it comes to it. Ethereum is being exposed as a busted flush tbh I'm surprised Auric team are still accepting them in the ICOs. Suppose they have it in their white paper and website and would look bad to cancel it as a payment option. Not complaining though, I will be glad to get rid of them. Auric will be as close to an uncoupled crypto as you can get right now.

Wise posts. Can I join the stampede out of my falling investments?!! 

[bankgirlmjp]

I keep on checking the website but no link to the flash ico page yet

[pobble4lobble]

pobble now have my bitcoin for the auric ICO flash and thanks the auric for early buy coins saturday!

[bankgirlmjp]

OK so now I understand they're updating the site on Friday for the flash ico no wonder I couldn't find the link. am impatient to get my Eth off my hands before it falls any more haha

[cryptodabbler2014]

I messaged the aUric team yesterday with a final bunch of questions that I was unsure about after working my way through their white paper especially some math based ones about their modelling and got a reply pretty much as detailed as the white paper itself. Really thorough and I'd be lying if I said I understood all of it but it addressed all the points I raised and that was the final bit of due diligence from me as far as Im concerned. Was going to wait until the main ico in september but might as well have a go at getting my supply in the flash one on Saturday as with the current market it will just cost me more if I wait for those two extra weeks. That's how little confidence I have in it all right now and why a gold backed investment is the one for me

[LaScuderia]

I was taught that if someone is guaranteeing you what kind of profit or interest means that somewhere lies the deception. I hope I'm wrong but this project is very real. You should not have written in the title such large investors do not buy it.

Thank you for your wise comment - when we describe it as 'guaranteed value' we were actually referring to the gold value of each coin, which is indeed fixed and guaranteed at 0.001oz per coin. We have no wish for people to be misled by the meaning of that word however, and we can understand your point. We will amend the header rather than risk people being confused by the meaning of it.

Thanks for your time in bringing it to our attention.





Kindest Regards

Auric Communications

Thank you so this correction is very important. From the point of view of investors and regulators, profits can not be guaranteed. You can bind to the value of the asset as you do and it's ok but it's very important that everyone understands it. And then with a quick look all at once think that this is a pyramid.

[auric_communications]

I was taught that if someone is guaranteeing you what kind of profit or interest means that somewhere lies the deception. I hope I'm wrong but this project is very real. You should not have written in the title such large investors do not buy it.

Thank you for your wise comment - when we describe it as 'guaranteed value' we were actually referring to the gold value of each coin, which is indeed fixed and guaranteed at 0.001oz per coin. We have no wish for people to be misled by the meaning of that word however, and we can understand your point. We will amend the header rather than risk people being confused by the meaning of it.

Thanks for your time in bringing it to our attention.





Kindest Regards

Auric Communications

Thank you so this correction is very important. From the point of view of investors and regulators, profits can not be guaranteed. You can bind to the value of the asset as you do and it's ok but it's very important that everyone understands it. And then with a quick look all at once think that this is a pyramid.

Yes we understand the principle there and we would also strongly advise all potential investors to read our white paper as it goes into a lot of detail on the structure of Auric.

We would just clarify that Auric is not actually 'pegged' to gold. It has a a freely floating and market determined price as with any other cryptocurrency. It is just that Auric has that additional value in terms of gold weight as a hedge or protection against potential declines in its market price.






Kindest Regards

Auric Communications