Gold-Backed Crypto - Yay or Nay?

[yarik0409]

Hi guys, what do you think about our new crypto that is backed by gold???

I believe that money should be a clear representation of the value of work done. If you work hard, producing something amazing or providing best quality service, you should be paid well regardless of the type of job. I believe in equality of opportunity. But today we are all enslaved and working hard for the useless paper which elites print daily to keep us enslaved. GRC brings back the gold standard and revolution against the slavery of all people in the world. Real money for real people. It's time to wake up and stand up against the global tyranny. We should stop fighting each other and unite. Only together we can create a global change and build a new world on real values.


🌏🔥🚀 GLOBAL RESERVE COIN 🌏🔥🚀

Contract Address: 0x8e4653Ef0f8Ce731653192bb642D5347Ccec2c6a

☀️ GRC is a First BEP20 (BSC) Gold-Backed token with BUSD automatic rewards. GRC has 10%BUY/12%SELL tax rate:

💸3%/4% - BUSD rewards to Holders
💰2%/3% - LP-generating
🏆2% - Gold Reserves
🎯3% - Marketing

🧑‍💻TEAM DOXXED!!!
🔐100% of liquidity is locked on PinkSale! (https://www.pinksale.finance/pinklock/detail/0x506c7212EdBb5CE1f4Ee022F1b7189f6e865CD77)
💼Audited by Cyberscope! (https://github.com/cyberscope-io/audits/blob/main/2-grc/audit.pdf)
✅️Listed on CMC! (https://coinmarketcap.com/currencies/global-reserve-coin/)
👨‍👩‍👧‍👧Only 240 HODLERS, VERY EARLY!
🏛 Listing on Azbit Exchange is Coming🟢

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💎 Purchase $GRC with your Credit Card Today!!! 💳💸💎🔥🔥🔥🔥🔥

🟢 Via Flooz 👇
https://flooz.xyz/trade/0x8e4653Ef0f8Ce731653192bb642D5347Ccec2c6a?network=bsc

🏛 Via Official $GRC Website 👇
globalreservecoin.org

⚡️JOIN  OUR  TG  GROUP 👇
https://t.me/globalreservecoin

[Kavelj22]

I believe in equality of opportunity. But today we are all enslaved and working hard for the useless paper which elites print daily to keep us enslaved. GRC brings back the gold standard and revolution against the slavery of all people in the world. Real money for real people. It's time to wake up and stand up against the global tyranny. We should stop fighting each other and unite. Only together we can create a global change and build a new world on real values.

These are emotional expressions and do not provide any clear conception of your project, which I find can be summed up in "a useless new cryptocurrency".

When I read the description of a "currency backed by gold," I thought that you would talk about the reserve of gold allocated for the creation of the currency, the mechanisms of its collection and storage, and most importantly the relationship of the currency that you will launch with the price of gold in the global market.

You did not go beyond the fact that you are trying to promote a cryptocurrency (Shitcoin) that no one knows its fate after he buys it, as no one knows the secret of its association with gold, as you claim.

[yarik0409]

I believe in equality of opportunity. But today we are all enslaved and working hard for the useless paper which elites print daily to keep us enslaved. GRC brings back the gold standard and revolution against the slavery of all people in the world. Real money for real people. It's time to wake up and stand up against the global tyranny. We should stop fighting each other and unite. Only together we can create a global change and build a new world on real values.

These are emotional expressions and do not provide any clear conception of your project, which I find can be summed up in "a useless new cryptocurrency".

When I read the description of a "currency backed by gold," I thought that you would talk about the reserve of gold allocated for the creation of the currency, the mechanisms of its collection and storage, and most importantly the relationship of the currency that you will launch with the price of gold in the global market.

You did not go beyond the fact that you are trying to promote a cryptocurrency (Shitcoin) that no one knows its fate after he buys it, as no one knows the secret of its association with gold, as you claim.

Thank you for your great comment 👍

I see nothing wrong with expressing my vision about the project, but I do agree that it's just words for people who don't know me or my project. So let me clarify it.

What is the project about?
GRC is BEP-20 cryptocurrency that is backed by gold. It has 10% buy and 12% sell taxes. 3/4% is used for automatic BUSD rewards to holders. 2/3% is used for automatic liquidity. 3% used for marketing (developer's wallet). 2% is transferred to another developer's wallet (gold wallet), which is used for purchasing gold. There is no tax on transactions between wallets.

What makes your project unique?
The project is unique as the developer uses part of the tax to purchase and store gold at Melbourne Mint. The price of gold is relatively stable. That gold will be used in the future to exchange GRC for gold. It can also be used by a developer during a bull market to buy back GRC and stabilize the price of GRC. This is done to provide more security for GRC holders.

History of your project.
The developer always believed in gold-backed currencies and was disappointed about the current situation in the world, where the government can print fiat currency without any gold-backing. The developer wanted to create a cryptocurrency that is not just numbers on the screen, but that these numbers are tied to valuable physical asset - gold.

What’s next for your project?
The plan is to widely spread the awareness of GRC and allow people to purchase the currency that is backed by gold. The plan is to list GRC on major exchanges. Holders should be able to exchange GRC for gold in the future.

What can your token be used for?
The token is used as a source of passive income through BUSD rewards. It is used as a more stable and secure investment. In the future, the plan is to reduce the tax to just gold tax (2%) and make GRC usable for purchases in stores.

In regards, to your question about the association of coins with gold. Once we start purchasing gold, there will be two prices of GRC. One is that of USD and the other one in gold value. When we have sufficient reserves, we can start minting physical gold coins, where each GRC coin will be worth a gold coin. In that way people can exchange GRC for physcial gold coins.

[holydarkness]

Archived website




Let's see, first, about the project, you're a Russian, living in Australia, concerned about United States Dollar? And to whom does this project addressed to? Second, about the team, you and you alone is the one controlling and building this project... which technically you just buy gold from every earned tax when someone buy your token, there's no expert on this, no financial counselor or trading advisor with hundred years of knowledge combined, just someone with psychology background --not that I have anything against Psychologist--, a mentor, and *check note* a live coach specialized on meditation that you've spent 10 years investigating that works really great on HR during Covid19?

I'll be blunt, how does this translate to crypto investing and gold trading?

The link of Instagram on your website doesn't even work, I need to manually search you [I kept a screenshot of it and didn't share it here, respecting your privacy, though you've stated that you're doxxed and giving a --inactive-- link to your Instagram, which imply you're ready to share it] and found nothing that could help this case.

Please tell me this is a joke and there's something more behind this? That you have something worth selling? Or at least, something that encourages people that your project is... decent and worth investing?

[yarik0409]

Archived website


https://i.ibb.co/gJzh78w/Anti-Scam-or-so-he-said.jpg https://i.ibb.co/Yb6Wsxs/And-doxxed-too.jpg

Let's see, first, about the project, you're a Russian, living in Australia, concerned about United States Dollar? And to whom does this project addressed to? Second, about the team, you and you alone is the one controlling and building this project... which technically you just buy gold from every earned tax when someone buy your token, there's no expert on this, no financial counselor or trading advisor with hundred years of knowledge combined, just someone with psychology background --not that I have anything against Psychologist--, a mentor, and *check note* a live coach specialized on meditation that you've spent 10 years investigating that works really great on HR during Covid19?

I'll be blunt, how does this translate to crypto investing and gold trading?

The link of Instagram on your website doesn't even work, I need to manually search you [I kept a screenshot of it and didn't share it here, respecting your privacy, though you've stated that you're doxxed and giving a --inactive-- link to your Instagram, which imply you're ready to share it] and found nothing that could help this case.

Please tell me this is a joke and there's something more behind this? That you have something worth selling? Or at least, something that encourages people that your project is... decent and worth investing?

Anyone who is concerned about their money should be concerned about USD. I use USD as an example of governments control people by creating arrificial value of unbacked paper (usd, euro, ruble etc.). Considering that USA debt is so high and only gets bigger, considering BRICS nations coming together and accumulatign gold, considering high inflation and unaffordable housing, we are very near the exposure and decline of USD. That will affect global economy and especially us, common people, not rich. So, yes I'm concerned about USD.

I don't really understand your second point. I think you answered it yourself😆 I don't think you need an "expert, financial counselor or trading advisor" to take money from the gold wallet and buy gold 🤔 It's not that difficult is it? If you mean you are worried about legal sidr of things, that's a different question.

The link on website to my instagram works, but it only works on phones. So if you use your phone to access it, you should be fine. I don't know why instagram link on PC doesn't work. I guess it's just instagram isn't optimised to PC.

Back to the legal side, I address it on our Youtube channel, so you can find full explonation there. Watch the first video. But, let me address it shortly here. Some gold-backed tokens don't exist anymore because they were scams, others don't exist because they tried to do things legally and got sued by the government. The governments are fully against crypto, what to speak of gold-backed crypto. So I'm not going to complicate the process by creating a company where everything is legal, so the government can take it away. Instead, I honestly tell people that I buy gold that belongs to me, but I only use it for the project. That way I'm not legally binded. So it all depends on trust. Do people trust a transparent men with good intentions, or do they trust the government, fiat currencies and banks, which keep crushing. Where is the security nowadays? So it's the choice people have to make. And if you don't want to trust me after watching all the videos and you can feel that I'm dishonest somewhere, it's your choice and good on you for doing the research and making your own decision.

[holydarkness]

Anyone who is concerned about their money should be concerned about USD. I use USD as an example of governments control people by creating arrificial value of unbacked paper (usd, euro, ruble etc.). Considering that USA debt is so high and only gets bigger, considering BRICS nations coming together and accumulatign gold, considering high inflation and unaffordable housing, we are very near the exposure and decline of USD. That will affect global economy and especially us, common people, not rich. So, yes I'm concerned about USD.

I don't really understand your second point. I think you answered it yourself😆 I don't think you need an "expert, financial counselor or trading advisor" to take money from the gold wallet and buy gold 🤔 It's not that difficult is it? If you mean you are worried about legal sidr of things, that's a different question.

The link on website to my instagram works, but it only works on phones. So if you use your phone to access it, you should be fine. I don't know why instagram link on PC doesn't work. I guess it's just instagram isn't optimised to PC.

Back to the legal side, I address it on our Youtube channel, so you can find full explonation there. Watch the first video. But, let me address it shortly here. Some gold-backed tokens don't exist anymore because they were scams, others don't exist because they tried to do things legally and got sued by the government. The governments are fully against crypto, what to speak of gold-backed crypto. So I'm not going to complicate the process by creating a company where everything is legal, so the government can take it away. Instead, I honestly tell people that I buy gold that belongs to me, but I only use it for the project. That way I'm not legally binded. So it all depends on trust. Do people trust a transparent men with good intentions, or do they trust the government, fiat currencies and banks, which keep crushing. Where is the security nowadays? So it's the choice people have to make. And if you don't want to trust me after watching all the videos and you can feel that I'm dishonest somewhere, it's your choice and good on you for doing the research and making your own decision.

Except that gold's price fluctuate? And I am pretty much sure you need a tad bit of understanding macro and micro economy to know the good time to buy [or sell]? Unless you're planning to buy them at a predetermined time every month, without any consideration of the current price?

Second, I am somewhat sure your project title is kinda misleading? All of those gold-backed projects in the past aside as I am barely following any them, you're not backed by gold in the sense that each of your token represent a fixed value in gold. Below is a nice short explanation of a gold-backed currency,

The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold. With the gold standard, countries agreed to convert paper money into a fixed amount of gold. A country that uses the gold standard sets a fixed price for gold and buys and sells gold at that price. That fixed price is used to determine the value of the currency. For example, if the U.S. sets the price of gold at $500 an ounce, the value of the dollar would be 1/500th of an ounce of gold.

Your project is investing in gold --and an extremely small amount too, if I may add, 2% of tax-- in a sense that a tiny portion of your project's total supply will be "exchanged" to gold. There is a massive difference of understanding for the two concepts.

Further, about how exacty is this gonna create a sense of security, I am not quite sure. Let's see if you can explain more, but from the brief that I read, basically your project runs on a premise that a tiny portion of the total supply bought or sold --2% of the tax-- is in gold, because you purchase it with the said revenue, of which --you argued-- will secure the coin from dropping because this is the security of the coin, people feel secure knowing that they're "backed" by gold, and in case it still did, you'll sell the gold --purchased from that 2%-- to stabilize the price.

Let's assume a case where the token price dropped 50% of it's initial price, how exactly a portion --or all reserves-- of gold purchased by 2% of each token transaction stabilize the price? I imagine the total accumulation will not be significant enough?

And we're still not talking about the fact that the gold themselves are stored "at your personal address", id est, in your possession, beceuse you're not trusting the government. Again, how is this a sense of security?

Here on these situations, I am sure your previous and current expertise could help us understand the term "false sense of security" better?

[yarik0409]

Anyone who is concerned about their money should be concerned about USD. I use USD as an example of governments control people by creating arrificial value of unbacked paper (usd, euro, ruble etc.). Considering that USA debt is so high and only gets bigger, considering BRICS nations coming together and accumulatign gold, considering high inflation and unaffordable housing, we are very near the exposure and decline of USD. That will affect global economy and especially us, common people, not rich. So, yes I'm concerned about USD.

I don't really understand your second point. I think you answered it yourself😆 I don't think you need an "expert, financial counselor or trading advisor" to take money from the gold wallet and buy gold 🤔 It's not that difficult is it? If you mean you are worried about legal sidr of things, that's a different question.

The link on website to my instagram works, but it only works on phones. So if you use your phone to access it, you should be fine. I don't know why instagram link on PC doesn't work. I guess it's just instagram isn't optimised to PC.

Back to the legal side, I address it on our Youtube channel, so you can find full explonation there. Watch the first video. But, let me address it shortly here. Some gold-backed tokens don't exist anymore because they were scams, others don't exist because they tried to do things legally and got sued by the government. The governments are fully against crypto, what to speak of gold-backed crypto. So I'm not going to complicate the process by creating a company where everything is legal, so the government can take it away. Instead, I honestly tell people that I buy gold that belongs to me, but I only use it for the project. That way I'm not legally binded. So it all depends on trust. Do people trust a transparent men with good intentions, or do they trust the government, fiat currencies and banks, which keep crushing. Where is the security nowadays? So it's the choice people have to make. And if you don't want to trust me after watching all the videos and you can feel that I'm dishonest somewhere, it's your choice and good on you for doing the research and making your own decision.

Except that gold's price fluctuate? And I am pretty much sure you need a tad bit of understanding macro and micro economy to know the good time to buy [or sell]? Unless you're planning to buy them at a predetermined time every month, without any consideration of the current price?

Second, I am somewhat sure your project title is kinda misleading? All of those gold-backed projects in the past aside as I am barely following any them, you're not backed by gold in the sense that each of your token represent a fixed value in gold. Below is a nice short explanation of a gold-backed currency,

The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold. With the gold standard, countries agreed to convert paper money into a fixed amount of gold. A country that uses the gold standard sets a fixed price for gold and buys and sells gold at that price. That fixed price is used to determine the value of the currency. For example, if the U.S. sets the price of gold at $500 an ounce, the value of the dollar would be 1/500th of an ounce of gold.

Your project is investing in gold --and an extremely small amount too, if I may add, 2% of tax-- in a sense that a tiny portion of your project's total supply will be "exchanged" to gold. There is a massive difference of understanding for the two concepts.

Further, about how exacty is this gonna create a sense of security, I am not quite sure. Let's see if you can explain more, but from the brief that I read, basically your project runs on a premise that a tiny portion of the total supply bought or sold --2% of the tax-- is in gold, because you purchase it with the said revenue, of which --you argued-- will secure the coin from dropping because this is the security of the coin, people feel secure knowing that they're "backed" by gold, and in case it still did, you'll sell the gold --purchased from that 2%-- to stabilize the price.

Let's assume a case where the token price dropped 50% of it's initial price, how exactly a portion --or all reserves-- of gold purchased by 2% of each token transaction stabilize the price? I imagine the total accumulation will not be significant enough?

And we're still not talking about the fact that the gold themselves are stored "at your personal address", id est, in your possession, beceuse you're not trusting the government. Again, how is this a sense of security?

Here on these situations, I am sure your previous and current expertise could help us understand the term "false sense of security" better?

Thank you for your considerate reply 👍

Firstly, the gold price indeed fluctuates, but historically it's more stable than any fiat or crypto currency. Considering the current trends in micro and macro economies, the last thing you would want to keep your savings in is USD or Bitcoin (Bitcoin may be a good investment option for next year, USD is about to decline a lot, so I'm talking about savings, not investment). So if you want to keep your money safe, buy gold, silver or GRC. Any amount of gold at any given price and time is the best place for savings. The price of gold is historically the most stable price. So, at the moment, I will be purchasing gold regularly based on the timeframe rather than price. The faster we can purchase gold is better, since every day USD price can drop significantly.

To your second point. It is true, but the definition you put is about governments setting a fixed price on gold and then backing their currency. As you know I'm not the government, I can't set the fixed price on gold, so I'm not sure why you quoted that definition. It's a straw man argument, which makes 0 sense in a current discussion. In the future (this is part of our roadmap and development), when people are able to exchange gold for GRC tokens, each GRC will have a fixed value in gold. Gold GRC tokens will be minted and certain amount of GRC tokens will represent 1 gold coin.

To your third point of 2% of being a small amount to back the token. Let me remind you 2% tax is on buying AND selling GRC. That's a lot of money. I'll give you current numbers, so you understand the example. Currently, as I'm writing, there is $4,782 in GRC liquidity. Also, until this time it took us accumulate this much liquidty, we accumulated $1,317 in gold wallet, that's currently there. If I had enough money in gold wallet to purchase and store it in gold, that number would have been much higher as BNB price dropped a lot. Nevertheless, if I was going to buy back coins with gold wallet money now, I could get the price up for GRC significantly, by about 50%. Remember, 2% comes from daily trading volume. So, that's a lot of money. So, yes the price is secure.

To your last point. Currently the gold will be stored at Melbourne mint. But in the future, we would have our own storage, as you pointed out correctly I don't trust any government. Indeed, the governments create false sense of security by promising to keep the currencies stable and your savings in banks safe. None of these promises hold true and the history showed it again and again and now it's evident too. The banks are collapsing, and fiat currencies are shaking up before people become fearful and the bubble of debt money pops. It's a matter of time, and I promise it will happen before the end of 2024. Every fiat cureency has historically failed. Only gold never did. So, there is more chance people's money can be safe and secure with a random guy like myself, who is transparent and honest (for you to decide) rather than the government.

[holydarkness]

Thank you for your considerate reply

Firstly, the gold price indeed fluctuates, but historically it's more stable than any fiat or crypto currency. Considering the current trends in micro and macro economies, the last thing you would want to keep your savings in is USD or Bitcoin (Bitcoin may be a good investment option for next year, USD is about to decline a lot, so I'm talking about savings, not investment). So if you want to keep your money safe, buy gold, silver or GRC. Any amount of gold at any given price and time is the best place for savings. The price of gold is historically the most stable price. So, at the moment, I will be purchasing gold regularly based on the timeframe rather than price. The faster we can purchase gold is better, since every day USD price can drop significantly.

To your second point. It is true, but the definition you put is about governments setting a fixed price on gold and then backing their currency. As you know I'm not the government, I can't set the fixed price on gold, so I'm not sure why you quoted that definition. It's a straw man argument, which makes 0 sense in a current discussion. In the future (this is part of our roadmap and development), when people are able to exchange gold for GRC tokens, each GRC will have a fixed value in gold. Gold GRC tokens will be minted and certain amount of GRC tokens will represent 1 gold coin.

To your third point of 2% of being a small amount to back the token. Let me remind you 2% tax is on buying AND selling GRC. That's a lot of money. I'll give you current numbers, so you understand the example. Currently, as I'm writing, there is $4,782 in GRC liquidity. Also, until this time it took us accumulate this much liquidty, we accumulated $1,317 in gold wallet, that's currently there. If I had enough money in gold wallet to purchase and store it in gold, that number would have been much higher as BNB price dropped a lot. Nevertheless, if I was going to buy back coins with gold wallet money now, I could get the price up for GRC significantly, by about 50%. Remember, 2% comes from daily trading volume. So, that's a lot of money. So, yes the price is secure.

To your last point. Currently the gold will be stored at Melbourne mint. But in the future, we would have our own storage, as you pointed out correctly I don't trust any government. Indeed, the governments create false sense of security by promising to keep the currencies stable and your savings in banks safe. None of these promises hold true and the history showed it again and again and now it's evident too. The banks are collapsing, and fiat currencies are shaking up before people become fearful and the bubble of debt money pops. It's a matter of time, and I promise it will happen before the end of 2024. Every fiat cureency has historically failed. Only gold never did. So, there is more chance people's money can be safe and secure with a random guy like myself, who is transparent and honest (for you to decide) rather than the government.

Point number one. I am not quite sure how you misunderstood me when I am talking about the macro and micro involved on the decision making, I am referring to the economics involved behind purchasing gold, and instead you're talking about the macro and micro involved on savings. I also failed to understand how you perceive the corelation between price of gold and USD, and how you justify that "The faster we can purchase gold is better, since every day USD price can drop significantly." given that --and backed by studies-- inflation are proven to have small effect to the price of gold. Further, your statement that USD price can drop significantly also bear a strong indication of wrong argument and cluelessness, a lack of understanding on the field you're about to undergo and ask people to trust their fund with, given The Feds declared they'll increase their interest rate twice this year, and history shows that the increment of their interest rate will be followed by the strengthening of their currency. So, currently, reflecting from prior behavior, every day USD price can increase significantly.

Point number two, I believe anyone reading this understand that the the definition was served to give context of gold-backed currency vs. invested-in-gold "currency", and hopefully you find it useful as you're seemingly lacking the knowledge of a gold-backed currency yourself. Well, partially. No one asking you to set a fixed price on gold. No one can lock the price of gold. Gold-backed currency means each printed money reflecting a predetermined rate of gold.

Though "internally" your goal bears resemblance to the basic application of gold-backed currency where certain unit of currency reflect to certain unit of gold, thus "in the future" your token holders can exchange a fixed certain unit of GRC to gold; And surely you're meaning to say certain amount of token represent 1 gram of gold? One gold coin is not a quantitative measurement.  Token-rate-against-other-coin wise, you missed the point very greatly. Seen from other currency [of which we stand and use it as the basis of our argument, given we're talking about your price stability] it is the price of the currency that reflect the rate of the gold, when gold price worldwide rises, the currency appreciated against other currencies. If gold price gets lower, the currency got depreciated. If my point made zero sense to you and perceived as a straw man argument, then may I suggest that perhaps you don't understand it?

While we're at it, regarding your goal and roadmap, where's exacly this plan of changing your system into gold-backed coin? I can't find it anywhere, though I've read your roadmap several times. More about your roadmap on the next paragraph.

Point number three. It is really nice that you're talking numbers. Let's convert that into a case for the sake of illustration. Assume your token price drop, let's say, 50%, can you give us in numbers and data of how your gold reserve return the price to it's current value? That's the sense of security you're offering, is it not, that the price is secure?

Point number four, and this is the most interesting, IMO, as I think this is the biggest contradicting statement you made. You said on your last paragraph that can be summarized into, you don't trust government, you don't trust banks, and on your youtube video, which you summarized yourself here, you also refrained from incorporating your project or take any legal form so that you're not bound by anything; you said and I quote, "That way I'm not legally binded." Let's revisit your roadmap, I screenshotted both page to show all of us that you didn't specify any plan to get to a situation where certain amout of your token will be exchangable to one "coin" of gold, but the point I'd like to emphasize is on phase 3 [the 15/15 page is also deliberately made visible to show that I've reached the end of the page and there's no other roadmap].



How... exactly will you issue credit card without legal body? And the possibility of opening a global bank is ironic, isn't it? Given you don't trust banks, let alone the mystery how you'll erect a legal bank without incorporating yourself.

[yarik0409]

Thank you for your considerate reply

Firstly, the gold price indeed fluctuates, but historically it's more stable than any fiat or crypto currency. Considering the current trends in micro and macro economies, the last thing you would want to keep your savings in is USD or Bitcoin (Bitcoin may be a good investment option for next year, USD is about to decline a lot, so I'm talking about savings, not investment). So if you want to keep your money safe, buy gold, silver or GRC. Any amount of gold at any given price and time is the best place for savings. The price of gold is historically the most stable price. So, at the moment, I will be purchasing gold regularly based on the timeframe rather than price. The faster we can purchase gold is better, since every day USD price can drop significantly.

To your second point. It is true, but the definition you put is about governments setting a fixed price on gold and then backing their currency. As you know I'm not the government, I can't set the fixed price on gold, so I'm not sure why you quoted that definition. It's a straw man argument, which makes 0 sense in a current discussion. In the future (this is part of our roadmap and development), when people are able to exchange gold for GRC tokens, each GRC will have a fixed value in gold. Gold GRC tokens will be minted and certain amount of GRC tokens will represent 1 gold coin.

To your third point of 2% of being a small amount to back the token. Let me remind you 2% tax is on buying AND selling GRC. That's a lot of money. I'll give you current numbers, so you understand the example. Currently, as I'm writing, there is $4,782 in GRC liquidity. Also, until this time it took us accumulate this much liquidty, we accumulated $1,317 in gold wallet, that's currently there. If I had enough money in gold wallet to purchase and store it in gold, that number would have been much higher as BNB price dropped a lot. Nevertheless, if I was going to buy back coins with gold wallet money now, I could get the price up for GRC significantly, by about 50%. Remember, 2% comes from daily trading volume. So, that's a lot of money. So, yes the price is secure.

To your last point. Currently the gold will be stored at Melbourne mint. But in the future, we would have our own storage, as you pointed out correctly I don't trust any government. Indeed, the governments create false sense of security by promising to keep the currencies stable and your savings in banks safe. None of these promises hold true and the history showed it again and again and now it's evident too. The banks are collapsing, and fiat currencies are shaking up before people become fearful and the bubble of debt money pops. It's a matter of time, and I promise it will happen before the end of 2024. Every fiat cureency has historically failed. Only gold never did. So, there is more chance people's money can be safe and secure with a random guy like myself, who is transparent and honest (for you to decide) rather than the government.

Point number one. I am not quite sure how you misunderstood me when I am talking about the macro and micro involved on the decision making, I am referring to the economics involved behind purchasing gold, and instead you're talking about the macro and micro involved on savings. I also failed to understand how you perceive the corelation between price of gold and USD, and how you justify that "The faster we can purchase gold is better, since every day USD price can drop significantly." given that --and backed by studies-- inflation are proven to have small effect to the price of gold. Further, your statement that USD price can drop significantly also bear a strong indication of wrong argument and cluelessness, a lack of understanding on the field you're about to undergo and ask people to trust their fund with, given The Feds declared they'll increase their interest rate twice this year, and history shows that the increment of their interest rate will be followed by the strengthening of their currency. So, currently, reflecting from prior behavior, every day USD price can increase significantly.

Point number two, I believe anyone reading this understand that the the definition was served to give context of gold-backed currency vs. invested-in-gold "currency", and hopefully you find it useful as you're seemingly lacking the knowledge of a gold-backed currency yourself. Well, partially. No one asking you to set a fixed price on gold. No one can lock the price of gold. Gold-backed currency means each printed money reflecting a predetermined rate of gold.

Though "internally" your goal bears resemblance to the basic application of gold-backed currency where certain unit of currency reflect to certain unit of gold, thus "in the future" your token holders can exchange a fixed certain unit of GRC to gold; And surely you're meaning to say certain amount of token represent 1 gram of gold? One gold coin is not a quantitative measurement.  Token-rate-against-other-coin wise, you missed the point very greatly. Seen from other currency [of which we stand and use it as the basis of our argument, given we're talking about your price stability] it is the price of the currency that reflect the rate of the gold, when gold price worldwide rises, the currency appreciated against other currencies. If gold price gets lower, the currency got depreciated. If my point made zero sense to you and perceived as a straw man argument, then may I suggest that perhaps you don't understand it?

While we're at it, regarding your goal and roadmap, where's exacly this plan of changing your system into gold-backed coin? I can't find it anywhere, though I've read your roadmap several times. More about your roadmap on the next paragraph.

Point number three. It is really nice that you're talking numbers. Let's convert that into a case for the sake of illustration. Assume your token price drop, let's say, 50%, can you give us in numbers and data of how your gold reserve return the price to it's current value? That's the sense of security you're offering, is it not, that the price is secure?

Point number four, and this is the most interesting, IMO, as I think this is the biggest contradicting statement you made. You said on your last paragraph that can be summarized into, you don't trust government, you don't trust banks, and on your youtube video, which you summarized yourself here, you also refrained from incorporating your project or take any legal form so that you're not bound by anything; you said and I quote, "That way I'm not legally binded." Let's revisit your roadmap, I screenshotted both page to show all of us that you didn't specify any plan to get to a situation where certain amout of your token will be exchangable to one "coin" of gold, but the point I'd like to emphasize is on phase 3 [the 15/15 page is also deliberately made visible to show that I've reached the end of the page and there's no other roadmap].

https://i.ibb.co/fNQ6zhg/Phase-1-and-2.jpg https://i.ibb.co/5MtbN5Z/Phase-3.jpg

How... exactly will you issue credit card without legal body? And the possibility of opening a global bank is ironic, isn't it? Given you don't trust banks, let alone the mystery how you'll erect a legal bank without incorporating yourself.

1. Regarding the macro and micro factors, it's essential to consider both savings and investment perspectives when discussing the stability of currencies. While it's true that gold prices can fluctuate, it has historically maintained its value better than fiat or cryptocurrencies. The USD, for example, has faced significant inflation and devaluation over time, making it less reliable for preserving wealth. In contrast, gold has a proven track record of preserving purchasing power and acting as a hedge against economic uncertainties.

As for the claim about the USD price dropping significantly every day, it's important to recognize that currency fluctuations can be influenced by various factors, including interest rates, economic indicators, and market sentiment. While the USD is stable at this moment, there are a few factors that indicate the collapse of USD: digitalisation of dollar (people are mostly against it), increased USA debt, future end of Ukraine war (no more money making for USA economy), over 28 countries last week applied to join BRICS (alliance against NATO and USA), BRICS accumulating gold, housing crisis and many other factors. These are just a few examples.

2. The definition of a gold-backed currency was presented to establish the context and differentiate it from investing in physical gold. While governments may set fixed prices for their gold-backed currencies, the concept behind a gold-backed cryptocurrency like GRC is to provide a secure and transparent digital representation of physical gold. The goal is to have a fixed value for GRC tokens based on a certain amount of gold, offering stability and a direct correlation to the precious metal's worth. This goal is the future goal and is clearly explained in detail in my first Youtube video I made. I went through the whitepaper and explained each point in great detail.

3. Regarding the roadmap and the future exchange of GRC for gold tokens, it's essential to understand that development plans are subject to updates and adjustments based on market conditions and technological advancements. While the specifics may not be outlined in the current roadmap, the intention to provide a mechanism for token holders to exchange GRC for a fixed amount of gold is a logical step in aligning with the concept of a gold-backed currency.

4. The 2% tax on buying and selling GRC is indeed a significant contribution to backing the token with gold reserves. While the current liquidity and gold wallet balance may be relatively modest, it's crucial to consider the potential growth and scalability of the GRC ecosystem. As more individuals and institutions embrace GRC, the liquidity and gold reserves will likely increase substantially, further solidifying the price stability and ensuring the backing of the currency.

Additionally, the 2% tax is based on daily trading volume, which means that as the trading volume of GRC grows, so will the funds available for backing the token with gold. This ongoing process ensures that GRC remains backed by a substantial amount of gold, providing a secure foundation for the currency's value.

5. Trust in governments and banks is a valid concern, as history has shown instances of economic instability and financial crises caused by government policies and banking systems. By emphasizing transparency, accountability, and decentralization, GRC aims to address these concerns and offer an alternative that provides individuals with greater control over their financial future.

6. While the roadmap may not explicitly mention owning storage facilities for gold, the intention to establish independent storage solutions aligns with the objective of reducing reliance on centralized entities and ensuring the security of the underlying gold reserves. By taking a proactive approach to safeguarding assets and empowering individuals, GRC aims to offer a more reliable and trustworthy alternative to traditional banking and monetary systems. That is again explained in my first Youtube video.

It's crucial to recognize that the current financial landscape calls for innovative solutions that prioritize transparency, stability, and individual empowerment. GRC strives to address these needs by providing a gold-backed currency that offers individuals a reliable store of value and a hedge against economic uncertainties. By leveraging the benefits of blockchain technology and a transparent ecosystem, GRC paves the way for a more secure and equitable financial future.

[holydarkness]

1. Regarding the macro and micro factors, it's essential to consider both savings and investment perspectives when discussing the stability of currencies. While it's true that gold prices can fluctuate, it has historically maintained its value better than fiat or cryptocurrencies. The USD, for example, has faced significant inflation and devaluation over time, making it less reliable for preserving wealth. In contrast, gold has a proven track record of preserving purchasing power and acting as a hedge against economic uncertainties.

As for the claim about the USD price dropping significantly every day, it's important to recognize that currency fluctuations can be influenced by various factors, including interest rates, economic indicators, and market sentiment. While the USD is stable at this moment, there are a few factors that indicate the collapse of USD: digitalisation of dollar (people are mostly against it), increased USA debt, future end of Ukraine war (no more money making for USA economy), over 28 countries last week applied to join BRICS (alliance against NATO and USA), BRICS accumulating gold, housing crisis and many other factors. These are just a few examples.

2. The definition of a gold-backed currency was presented to establish the context and differentiate it from investing in physical gold. While governments may set fixed prices for their gold-backed currencies, the concept behind a gold-backed cryptocurrency like GRC is to provide a secure and transparent digital representation of physical gold. The goal is to have a fixed value for GRC tokens based on a certain amount of gold, offering stability and a direct correlation to the precious metal's worth. This goal is the future goal and is clearly explained in detail in my first Youtube video I made. I went through the whitepaper and explained each point in great detail.

3. Regarding the roadmap and the future exchange of GRC for gold tokens, it's essential to understand that development plans are subject to updates and adjustments based on market conditions and technological advancements. While the specifics may not be outlined in the current roadmap, the intention to provide a mechanism for token holders to exchange GRC for a fixed amount of gold is a logical step in aligning with the concept of a gold-backed currency.

4. The 2% tax on buying and selling GRC is indeed a significant contribution to backing the token with gold reserves. While the current liquidity and gold wallet balance may be relatively modest, it's crucial to consider the potential growth and scalability of the GRC ecosystem. As more individuals and institutions embrace GRC, the liquidity and gold reserves will likely increase substantially, further solidifying the price stability and ensuring the backing of the currency.

Additionally, the 2% tax is based on daily trading volume, which means that as the trading volume of GRC grows, so will the funds available for backing the token with gold. This ongoing process ensures that GRC remains backed by a substantial amount of gold, providing a secure foundation for the currency's value.

5. Trust in governments and banks is a valid concern, as history has shown instances of economic instability and financial crises caused by government policies and banking systems. By emphasizing transparency, accountability, and decentralization, GRC aims to address these concerns and offer an alternative that provides individuals with greater control over their financial future.

6. While the roadmap may not explicitly mention owning storage facilities for gold, the intention to establish independent storage solutions aligns with the objective of reducing reliance on centralized entities and ensuring the security of the underlying gold reserves. By taking a proactive approach to safeguarding assets and empowering individuals, GRC aims to offer a more reliable and trustworthy alternative to traditional banking and monetary systems. That is again explained in my first Youtube video.

It's crucial to recognize that the current financial landscape calls for innovative solutions that prioritize transparency, stability, and individual empowerment. GRC strives to address these needs by providing a gold-backed currency that offers individuals a reliable store of value and a hedge against economic uncertainties. By leveraging the benefits of blockchain technology and a transparent ecosystem, GRC paves the way for a more secure and equitable financial future.

I'll make it short as you seems talking in circle.

1. Deflecting. The initial reason brought was to question whether you have the necessary knowledge and/or familiarity --or, "the experts" in my words-- in macro and micro related to buying those golds. We're not talking about macro and micro economics of savings. Let's continue discussing this further.

2. Denial. The initial reason this topic being discussed was because it is revealed that your project misled people. Your project was not a gold backed token, it's an invested-in-gold token, of which you seemingly then try, at least from my opinion, to deflect it by inventing a roadmap where at one point you'll turn your project into a gold-backed token, though... [continued to point number 3]

3. Denial --for the reason stated above-- but acceptable. Yes, a project should strive to evolve based on criticism.

4.  Deflecting. I asked for a use case scenario, numbers. It is not provided. Please revisit this matter.

5. Deflecting, again. I asked how exactly you'll issue credit card and erect a bank while you're against the idea of being legally bound and thus, incorporate yourself. Please explain more.

6. I don't even have a word for this. I am sorry if I have to be blunt, but you do aware that this sounds very stupid, right? You said that your intention is to, "to establish independent storage solutions aligns with the objective of reducing reliance on centralized entities and ensuring the security of the underlying gold reserves", and the proposed idea is by asking people to rely on you to keep their assets? A completely independent individual, emphasize on individual, single person, not bound by any legal matter, partner, or responsibility to any governing body other than the celestial being and his inner-self? How could this an upgrade from the current system and reducing centralization?

[yarik0409]

I'll make it short as you seems talking in circle.

1. Deflecting. The initial reason brought was to question whether you have the necessary knowledge and/or familiarity --or, "the experts" in my words-- in macro and micro related to buying those golds. We're not talking about macro and micro economics of savings. Let's continue discussing this further.

2. Denial. The initial reason this topic being discussed was because it is revealed that your project misled people. Your project was not a gold backed token, it's an invested-in-gold token, of which you seemingly then try, at least from my opinion, to deflect it by inventing a roadmap where at one point you'll turn your project into a gold-backed token, though... [continued to point number 3]

3. Denial --for the reason stated above-- but acceptable. Yes, a project should strive to evolve based on criticism.

4.  Deflecting. I asked for a use case scenario, numbers. It is not provided. Please revisit this matter.

5. Deflecting, again. I asked how exactly you'll issue credit card and erect a bank while you're against the idea of being legally bound and thus, incorporate yourself. Please explain more.

6. I don't even have a word for this. I am sorry if I have to be blunt, but you do aware that this sounds very stupid, right? You said that your intention is to, "to establish independent storage solutions aligns with the objective of reducing reliance on centralized entities and ensuring the security of the underlying gold reserves", and the proposed idea is by asking people to rely on you to keep their assets? A completely independent individual, emphasize on individual, single person, not bound by any legal matter, partner, or responsibility to any governing body other than the celestial being and his inner-self? How could this an upgrade from the current system and reducing centralization?

1. Please take your time and read my responses as it seems that you either haven't read them or understand them. Gold price is very stable and anytime for purchase is a good time, unless the price has risen significantly. That question doesn't relate at all to gold-backed currency. Any funds accumulated at any time should be transformed into gold.

2. Each token represents a certain amount of gold. At this stage 100 billion GRC = $1,300 worth of gold. So it's a gold-backed currency by definition. That number will only continue to increase as we accumulate gold. So, please don't mislead people and do more research.

3. Solved.

4. I provided the numbers, but for some reason you ignored them.

5. That point is explained in great detail in my address to holders on Youtube. Please revisit and ask questions afterwards, if you don't understand still.

6. "Because I'm trustworthy, and the government full of liers." To verify this statement you need a little intelligence. The second part of statement is a common sense and you need basic understanding of economics, history of currencies, oil industry monopoly, corruption and the knowledge that 1% of richest people in the world have more wealth than 99% of others. So, it's pretty clear. First part of the statement you verify through the research of my profile, listening to what I say and see if I act on what I say. So this statement is very easily verifyiable and if you cannot understand it, I think not much I can do for you here.

[holydarkness]

1. Please take your time and read my responses as it seems that you either haven't read them or understand them. Gold price is very stable and anytime for purchase is a good time, unless the price has risen significantly. That question doesn't relate at all to gold-backed currency. Any funds accumulated at any time should be transformed into gold.

2. Each token represents a certain amount of gold. At this stage 100 billion GRC = $1,300 worth of gold. So it's a gold-backed currency by definition. That number will only continue to increase as we accumulate gold. So, please don't mislead people and do more research.

3. Solved.

4. I provided the numbers, but for some reason you ignored them.

5. That point is explained in great detail in my address to holders on Youtube. Please revisit and ask questions afterwards, if you don't understand still.

6. "Because I'm trustworthy, and the government full of liers." To verify this statement you need a little intelligence. The second part of statement is a common sense and you need basic understanding of economics, history of currencies, oil industry monopoly, corruption and the knowledge that 1% of richest people in the world have more wealth than 99% of others. So, it's pretty clear. First part of the statement you verify through the research of my profile, listening to what I say and see if I act on what I say. So this statement is very easily verifyiable and if you cannot understand it, I think not much I can do for you here.

1. I actually gave them a thorough read, quite thorough that the inconsistencies in your explanation throughout this discussion baffled me. The very post I quoted for example, "Gold price is very stable and anytime for purchase is a good time, unless the price has risen significantly" which one is it? Stable that you can buy at anytime, that any fund accumulated should be transformed into gold, or that it has a possibility of significant appreciation [and with it, a depreciation too] which means we'll need an educated guess --where one of the means is through macro economics-- and buy them at a correct time?

2. Just to be sure we're on the same page before stepping further, 1B GRC equals to 1,300 USD worth of gold is because you're currently possessing 1,300 USD worth of gold? This rate will change in reflect to the gold reservoir you have next month, like, it'll become 1B GRC equals to 1,300 USD worth of gold?

4. Oh, pardon me, please point me out to these numbers and I'll humbly apologize for the oversight. Certainly you're not referring to the mention of 2%? Because I am quite confident anyone reading these dialog of ours will easily understand that I asked for --and this has been made clear-- a use case, as in, suppose your price depreciated 50% from today's rate, how will the gold kick into action and how will it stabilize price? We're talking numbers here. If I may help you, here, we can use this data I pulled from your web,



so suppose tomorrow the price of GRC plummeted 50%, what used to be 100 USD equals to 150 million of GRC, it now equals to 225 million of GRC. How will the gold reservoir kick into action and stabilize the price back to 150 million? And let's not stop there, we should assume the worst too while we're at it. Afterall, you're proposing a sense of security, not the false one. Let's also assume an ATL and massive dump scenario, the price depreciated 99%, so 100 USD equals to almost 300 million of GRC.

5 and 6. These points might be connected through the same root of problem: that I am not watching your youtube. With no intention to be rude, I have no time to watch 1 hour [and that's just 1 video] of explanation while I have other things to do [I really am currently swamped, I am not trying to be a snide here]. It's not like reading where I can do in silence while waiting in line or wait for someone, or in between the quiet morning with my coffee, I don't bring my headset all the time, and as I respect public privacy, I certainly won't disturb them by playing your explanation video through my device's speaker, and I like my morning as quiet as possible.

So, an explanation in writing is very much welcomed. I am more than happy to "listen" to that explanation of yours if you can provide a transcription of it. Not sure why this should be asked on the first place, given lots of people shared my issue, an explanation this crucial should be easily accessible, preferably placed on whitepaper. Or... you can do something easier by just tell me in brief what's your explanation is about and how exactly can you issue credit card and erect a banking entity without legal body.

[yarik0409]

1. I actually gave them a thorough read, quite thorough that the inconsistencies in your explanation throughout this discussion baffled me. The very post I quoted for example, "Gold price is very stable and anytime for purchase is a good time, unless the price has risen significantly" which one is it? Stable that you can buy at anytime, that any fund accumulated should be transformed into gold, or that it has a possibility of significant appreciation [and with it, a depreciation too] which means we'll need an educated guess --where one of the means is through macro economics-- and buy them at a correct time?

2. Just to be sure we're on the same page before stepping further, 1B GRC equals to 1,300 USD worth of gold is because you're currently possessing 1,300 USD worth of gold? This rate will change in reflect to the gold reservoir you have next month, like, it'll become 1B GRC equals to 1,300 USD worth of gold?

4. Oh, pardon me, please point me out to these numbers and I'll humbly apologize for the oversight. Certainly you're not referring to the mention of 2%? Because I am quite confident anyone reading these dialog of ours will easily understand that I asked for --and this has been made clear-- a use case, as in, suppose your price depreciated 50% from today's rate, how will the gold kick into action and how will it stabilize price? We're talking numbers here. If I may help you, here, we can use this data I pulled from your web,

https://i.ibb.co/C5YqBkb/rate.jpg

so suppose tomorrow the price of GRC plummeted 50%, what used to be 100 USD equals to 150 million of GRC, it now equals to 225 million of GRC. How will the gold reservoir kick into action and stabilize the price back to 150 million? And let's not stop there, we should assume the worst too while we're at it. Afterall, you're proposing a sense of security, not the false one. Let's also assume an ATL and massive dump scenario, the price depreciated 99%, so 100 USD equals to almost 300 million of GRC.

5 and 6. These points might be connected through the same root of problem: that I am not watching your youtube. With no intention to be rude, I have no time to watch 1 hour [and that's just 1 video] of explanation while I have other things to do [I really am currently swamped, I am not trying to be a snide here]. It's not like reading where I can do in silence while waiting in line or wait for someone, or in between the quiet morning with my coffee, I don't bring my headset all the time, and as I respect public privacy, I certainly won't disturb them by playing your explanation video through my device's speaker, and I like my morning as quiet as possible.

So, an explanation in writing is very much welcomed. I am more than happy to "listen" to that explanation of yours if you can provide a transcription of it. Not sure why this should be asked on the first place, given lots of people shared my issue, an explanation this crucial should be easily accessible, preferably placed on whitepaper. Or... you can do something easier by just tell me in brief what's your explanation is about and how exactly can you issue credit card and erect a banking entity without legal body.

I'll try be brief as I don't have much time to type what I've already explained in my videos.

1. Gold price is relatively stable. So as long as it fluctuates around the same price, I can purchase anytime I accumulate funds. If it appreciates significantly, whcih can happen occasionally, especially in the upcoming future, I need to see. There I need to make an educated guess. All my streams on Youtube indicate that I'm at up to date with global economic dynamics, and I get feedback from the holders.

2. 100 billion GRC is total max supply. It's currently worth $1,384 USD worth of gold. If we accumulate same amount next month, 100 billion GRC will cost $2,768 USD worth of gold. When the gold will be purchased that value will be only measured in gold. For example, 1 billion of GRC will be equal to 1 ounce of gold (just a random example). No need for USD.

4. For example, people sell GRC tomorrow that only $100 left in liquidity from current $4000. We would accumulate $80 in gold wallet. That would make around $1,450. If I was to pump it up, the price would get to 30-40% of initial. That scenario is impossible. Even if people did it, it would be over time with slow up and down movement. We would accumulate actually same amount. So in the end we would have around $2,800 at least in gold wallet.

Moreover!!! We have 2% going into liquidity generating. So, if everybody sells we can't have $100 worth of GRC in liquidity. Currently the minimum liquidity if everybody sells would be over $1,450 (same as gold wallet). So the price could be reinstated to the initial the day after tomorrow. That's currently if it happens, not hypothetical. Everybody sells tomorrow, I buyback the coins with gold and next day the price will be exactly the same.

5 and 6. I will create company and legal body to create stores around the world and issue credit card. I'm saying not now, but when the global power dynamics shift and the world is more decentralised (right now the global economy is monopolised by USA, that is already changing).

[yarik0409]

1. I actually gave them a thorough read, quite thorough that the inconsistencies in your explanation throughout this discussion baffled me. The very post I quoted for example, "Gold price is very stable and anytime for purchase is a good time, unless the price has risen significantly" which one is it? Stable that you can buy at anytime, that any fund accumulated should be transformed into gold, or that it has a possibility of significant appreciation [and with it, a depreciation too] which means we'll need an educated guess --where one of the means is through macro economics-- and buy them at a correct time?

2. Just to be sure we're on the same page before stepping further, 1B GRC equals to 1,300 USD worth of gold is because you're currently possessing 1,300 USD worth of gold? This rate will change in reflect to the gold reservoir you have next month, like, it'll become 1B GRC equals to 1,300 USD worth of gold?

4. Oh, pardon me, please point me out to these numbers and I'll humbly apologize for the oversight. Certainly you're not referring to the mention of 2%? Because I am quite confident anyone reading these dialog of ours will easily understand that I asked for --and this has been made clear-- a use case, as in, suppose your price depreciated 50% from today's rate, how will the gold kick into action and how will it stabilize price? We're talking numbers here. If I may help you, here, we can use this data I pulled from your web,

https://i.ibb.co/C5YqBkb/rate.jpg

so suppose tomorrow the price of GRC plummeted 50%, what used to be 100 USD equals to 150 million of GRC, it now equals to 225 million of GRC. How will the gold reservoir kick into action and stabilize the price back to 150 million? And let's not stop there, we should assume the worst too while we're at it. Afterall, you're proposing a sense of security, not the false one. Let's also assume an ATL and massive dump scenario, the price depreciated 99%, so 100 USD equals to almost 300 million of GRC.

5 and 6. These points might be connected through the same root of problem: that I am not watching your youtube. With no intention to be rude, I have no time to watch 1 hour [and that's just 1 video] of explanation while I have other things to do [I really am currently swamped, I am not trying to be a snide here]. It's not like reading where I can do in silence while waiting in line or wait for someone, or in between the quiet morning with my coffee, I don't bring my headset all the time, and as I respect public privacy, I certainly won't disturb them by playing your explanation video through my device's speaker, and I like my morning as quiet as possible.

So, an explanation in writing is very much welcomed. I am more than happy to "listen" to that explanation of yours if you can provide a transcription of it. Not sure why this should be asked on the first place, given lots of people shared my issue, an explanation this crucial should be easily accessible, preferably placed on whitepaper. Or... you can do something easier by just tell me in brief what's your explanation is about and how exactly can you issue credit card and erect a banking entity without legal body.

Also man, I would like to thank you for asking good questions and taking this project seriously by doing critical research. That's just a great example how anyone should approach the issue of investing if they care about their money. You have my respect, even if we disagree on some points🤝

[holydarkness]

I'll try be brief as I don't have much time to type what I've already explained in my videos.

1. Gold price is relatively stable. So as long as it fluctuates around the same price, I can purchase anytime I accumulate funds. If it appreciates significantly, whcih can happen occasionally, especially in the upcoming future, I need to see. There I need to make an educated guess. All my streams on Youtube indicate that I'm at up to date with global economic dynamics, and I get feedback from the holders.

2. 100 billion GRC is total max supply. It's currently worth $1,384 USD worth of gold. If we accumulate same amount next month, 100 billion GRC will cost $2,768 USD worth of gold. When the gold will be purchased that value will be only measured in gold. For example, 1 billion of GRC will be equal to 1 ounce of gold (just a random example). No need for USD.

4. For example, people sell GRC tomorrow that only $100 left in liquidity from current $4000. We would accumulate $80 in gold wallet. That would make around $1,450. If I was to pump it up, the price would get to 30-40% of initial. That scenario is impossible. Even if people did it, it would be over time with slow up and down movement. We would accumulate actually same amount. So in the end we would have around $2,800 at least in gold wallet.

Moreover!!! We have 2% going into liquidity generating. So, if everybody sells we can't have $100 worth of GRC in liquidity. Currently the minimum liquidity if everybody sells would be over $1,450 (same as gold wallet). So the price could be reinstated to the initial the day after tomorrow. That's currently if it happens, not hypothetical. Everybody sells tomorrow, I buyback the coins with gold and next day the price will be exactly the same.

5 and 6. I will create company and legal body to create stores around the world and issue credit card. I'm saying not now, but when the global power dynamics shift and the world is more decentralised (right now the global economy is monopolised by USA, that is already changing).

1. Let's drop point number 1 as we're chasing tails on this topic where the other topics are more intersting to be pursued.

2. For the record, yes, I understand that the value is in gold, where the use of USD is to reflect the price of certain weight of gold. That said and with your explanation, assume you're forced to sell off all of your gold reservoir, what next? Your token equals to 1 gram of gold [just a random example] that equals to 50 USD? This correlate to point number 4, as below,

4. To say a scenario is impossible in crypto is rather dogmatic, isn't it? Nothing is impossible in crypto. Many currencies --that's ironically also the ones you use as your basis and your marketing point-- assure their holders that they're safe. With no intention of providing an apple-to-apple basis but for a mere illustration, UST for example? Or BNB? Or... ones that strike better, all of those dumped and failed token in the past that assures their holders the same, that the scenario of being dumped is not possible because they're something-backed? I can mention a lot and perhaps spent eternity just mentioning cases. So yeah, I have to say that stating the scenario where your token being suddenly dumped is impossible is borderline dogmatic, or at the very least, naïve.

That opinion aired and stated, I am stepping into the matter being discussed in this point, the scenario where your token being completely dumped. You're saying that based on your optimistic calculation, you can only recover about 30-40% of its initial value? So applied to that scenario provided, where initially 100 USD is 150m GRC [GRC USD = 6.67 x 10^-7 or 0.000000667 USD] and it plummeted and dumped 99% of its initial price [again, if you say this is impossible, I'd advise you to take a walk in CMC or CG and see ATH vs ATL of questionable coin] so the new rate will be 100 USD for 15b token^[1], you can only recover 40%, so it's like... 9.33 x 10^-9 or 0.0000000093?

The numbers are not important and can be ignored to avoid confusion. The bottomline is, you can only recover approximately 40% of initial price suppose the token got dumped? And this is a scenario when the price was dumped 99% or was it a calculation based on 50% depreciation? How is this a sense of security?

Moving further, you pump it back as you promised, because this is the security of your token, your assurance that upon a price crash, you'll liquidate the gold to buy back and drive price up. And people know about this, they've anticipated it, so when the price bounced by the liquidated gold, though can't be exactly to it's price before because as you stated, your reservoir will only be able to boost it back to 40% of its initial , they dumped the rest of their token soonest possible because they know price won't go back up as their reservoir, i.e. their safeline, has been completely depleted. Yes, the dumped token will generate a 2% tax that'll be allocated for gold next month. But they cycle begin again and again and again until that 2% is for a minuscule amount of gold. What do you propose? How is this still a sense of security?

5 and 6. Much that I like to assume that your words are inconsistent because you initially said you won't have a legal body, that you don't trust bank and govt. and now you said you'll built a legal body, and that waiting this whole "global power dynamics shift and the world is more decentralised" probably won't happen soon and will take years, if not decade, and most likely your project has ceased to exist before then [either by scenario number 4 or people found better project and lost interest in yours or other reasons], and so on and so on, I prefer to say I probably didn't have a good grasp of your thought. But, as I said, not many people --me included-- have the luxury or the urgency or the need to sit around for hours sifting through your monolog to find the exact explanation, you can help us by point us out to the video explaining exactly these part, down to the minute, from what time to what time, and I'll give my best to spare my time listening to it.

One interesting point that I'll put here as a side note for my own future reference, in case this is not covered on your self-proclaimed "explained in great detail", how do exactly the global economy being monopolized by USA affect your company's legal status in Australia? Each country has their own regulation for legal bodies, irrespective of US govt. power, the downfall of U.S. of A won't likely suddenly make govt. in Australia, or their neighboring countries to be suddenly more decentralized or centralized. I don't think Australia will suddenly more proactive in adopting or suppressing gold-backed crypto because USD is losing its power.


^[1] I made an error on previous post by saying 300m because I hastily use calculator to count it by adding 99% to the equation instead of calculating the real amount, i.e. 1% of the initial price, 100/150m x 1/100]

[yarik0409]

1. Let's drop point number 1 as we're chasing tails on this topic where the other topics are more intersting to be pursued.

2. For the record, yes, I understand that the value is in gold, where the use of USD is to reflect the price of certain weight of gold. That said and with your explanation, assume you're forced to sell off all of your gold reservoir, what next? Your token equals to 1 gram of gold [just a random example] that equals to 50 USD? This correlate to point number 4, as below,

4. To say a scenario is impossible in crypto is rather dogmatic, isn't it? Nothing is impossible in crypto. Many currencies --that's ironically also the ones you use as your basis and your marketing point-- assure their holders that they're safe. With no intention of providing an apple-to-apple basis but for a mere illustration, UST for example? Or BNB? Or... ones that strike better, all of those dumped and failed token in the past that assures their holders the same, that the scenario of being dumped is not possible because they're something-backed? I can mention a lot and perhaps spent eternity just mentioning cases. So yeah, I have to say that stating the scenario where your token being suddenly dumped is impossible is borderline dogmatic, or at the very least, naïve.

That opinion aired and stated, I am stepping into the matter being discussed in this point, the scenario where your token being completely dumped. You're saying that based on your optimistic calculation, you can only recover about 30-40% of its initial value? So applied to that scenario provided, where initially 100 USD is 150m GRC [GRC USD = 6.67 x 10^-7 or 0.000000667 USD] and it plummeted and dumped 99% of its initial price [again, if you say this is impossible, I'd advise you to take a walk in CMC or CG and see ATH vs ATL of questionable coin] so the new rate will be 100 USD for 15b token^[1], you can only recover 40%, so it's like... 9.33 x 10^-9 or 0.0000000093?

The numbers are not important and can be ignored to avoid confusion. The bottomline is, you can only recover approximately 40% of initial price suppose the token got dumped? And this is a scenario when the price was dumped 99% or was it a calculation based on 50% depreciation? How is this a sense of security?

Moving further, you pump it back as you promised, because this is the security of your token, your assurance that upon a price crash, you'll liquidate the gold to buy back and drive price up. And people know about this, they've anticipated it, so when the price bounced by the liquidated gold, though can't be exactly to it's price before because as you stated, your reservoir will only be able to boost it back to 40% of its initial , they dumped the rest of their token soonest possible because they know price won't go back up as their reservoir, i.e. their safeline, has been completely depleted. Yes, the dumped token will generate a 2% tax that'll be allocated for gold next month. But they cycle begin again and again and again until that 2% is for a minuscule amount of gold. What do you propose? How is this still a sense of security?

5 and 6. Much that I like to assume that your words are inconsistent because you initially said you won't have a legal body, that you don't trust bank and govt. and now you said you'll built a legal body, and that waiting this whole "global power dynamics shift and the world is more decentralised" probably won't happen soon and will take years, if not decade, and most likely your project has ceased to exist before then [either by scenario number 4 or people found better project and lost interest in yours or other reasons], and so on and so on, I prefer to say I probably didn't have a good grasp of your thought. But, as I said, not many people --me included-- have the luxury or the urgency or the need to sit around for hours sifting through your monolog to find the exact explanation, you can help us by point us out to the video explaining exactly these part, down to the minute, from what time to what time, and I'll give my best to spare my time listening to it.

One interesting point that I'll put here as a side note for my own future reference, in case this is not covered on your self-proclaimed "explained in great detail", how do exactly the global economy being monopolized by USA affect your company's legal status in Australia? Each country has their own regulation for legal bodies, irrespective of US govt. power, the downfall of U.S. of A won't likely suddenly make govt. in Australia, or their neighboring countries to be suddenly more decentralized or centralized. I don't think Australia will suddenly more proactive in adopting or suppressing gold-backed crypto because USD is losing its power.


^[1] I made an error on previous post by saying 300m because I hastily use calculator to count it by adding 99% to the equation instead of calculating the real amount, i.e. 1% of the initial price, 100/150m x 1/100]

You didn't read my point 4. Read again pls. And then type again. I said I can reinstate the price to 100% in a day. Moreover, I wouldn't do it, because I wouldn't deplete all gold to reinstate the price. I never said I would. I said the team "can" use the gold to "stabilise" the price.

And even if I reinstate the price to 100% nobody can drop it a cent lower,  because that will become the bottom price as everybody sold.

[holydarkness]

You didn't read my point 4. Read again pls. And then type again. I said I can reinstate the price to 100% in a day. Moreover, I wouldn't do it, because I wouldn't deplete all gold to reinstate the price. I never said I would. I said the team "can" use the gold to "stabilise" the price.

And even if I reinstate the price to 100% nobody can drop it a cent lower,  because that will become the bottom price as everybody sold.

You do aware that you can answer point number 5 and 6 along with this post, right? Not sure why you don't do it. So how about this? Point me to the time where you explained in great detail for what I asked in those points, and I'll reach you back with the complete discussion addressing the other point of reinstate vs. stabilize

[yarik0409]

You didn't read my point 4. Read again pls. And then type again. I said I can reinstate the price to 100% in a day. Moreover, I wouldn't do it, because I wouldn't deplete all gold to reinstate the price. I never said I would. I said the team "can" use the gold to "stabilise" the price.

And even if I reinstate the price to 100% nobody can drop it a cent lower,  because that will become the bottom price as everybody sold.

You do aware that you can answer point number 5 and 6 along with this post, right? Not sure why you don't do it. So how about this? Point me to the time where you explained in great detail for what I asked in those points, and I'll reach you back with the complete discussion addressing the other point of reinstate vs. stabilize

Well, I'm just wasting my time with you at this moment. Watch all the videos and if you still have questions ask here. You keep arguing with yourself, because not a single argument you presented relates to my project.

[holydarkness]

[...]
Well, I'm just wasting my time with you at this moment. Watch all the videos and if you still have questions ask here. You keep arguing with yourself, because not a single argument you presented relates to my project.

I'll take this as your answer for point number 5 and 6, so here's the complete reply for point 4, 5, and 6.

You didn't read my point 4. Read again pls. And then type again. I said I can reinstate the price to 100% in a day. Moreover, I wouldn't do it, because I wouldn't deplete all gold to reinstate the price. I never said I would. I said the team "can" use the gold to "stabilise" the price.

And even if I reinstate the price to 100% nobody can drop it a cent lower,  because that will become the bottom price as everybody sold.

4. Ahh... so your gold reservoir are intended to... create a new... floor when a dump happen? And the stability here, who has the power to say, "this is the new price stability"? Who decide how many gold in reservoir to be sold to stabilize the price? Pretty much centralized, don't you agree? Further, how exactly should the holders feel their investment is secure with this concept? When the price plummeted, all you'll do is creating a new floor, the sum of fund they invested during the previous price --presumably not even ATH-- will have a good chance of being unrecovered. They'll have to wait, maybe good long years for the price to crawl back, or perhaps stopped climbing back up as people losing faith or got frustrated because the price is "stabilized" but their wealth depreciated greatly?

As for the case where you reinstate the price, how could it be impossible? Have you not considered a scenario of FUD-fueled dump? Especially as the FUDder knows your concept offers a promise where the price will go several points up. They buy, they dump, they create FUD, they buy some at certain low, create another FUD that drives the price lower, and you kicked in to "stabilize" the price, or even better, reinstate to its former price, and the cycle restarted.

5 and 6. [which answer was as quoted on the early part of this post] At this point, I feel like your answer started to became evasive. First, how could not a single of my argument relate to your project while all I asked is about the details of them? The plan for credit card is not related while it's on your whitepaper? The topic about scenario of possible dump is not related while it's a very possible situation of crypto? I don't understand where you got that idea. I can understand if you said that as a defensive basis of your evasiveness, though. Also, I can't help but think how hard is it to point out the exact video [you posted 10 videos of varying length so far] and the time if you're inclined to help me understand? Unless... you don't have it.

So, against my better judgment of spending my time at other things, as well as to prove myself wrong, I spent around one and a half hour listening to your videos, none are skipped, only set to 1.75 speed with pauses at some intervals to wrote a note about your explanation. The videos I watched are as follows:

1. 🔥Global Reserve Coin: The Ultimate Gold-Backed Cryptocurrency! 💰 Secure Investment & Game Changer 🚀
2. The Power of GRC: Marketing Strategies, Bitcoin Comparison & Building a Thriving Community! 🔥
3. (GRC) LIVE STREAM: Why It's a Game Changer 🔥 | Latest Updates & Promotions 🚀

The answer for my question, credit card and bank, can be found at video number 1, at around 29:35, where you explained your roadmap and got to the credit card milestone, of which your explanation was, and I'm doing everybody here a favor by saving their time by transcribing it for them, as below

"Global Reserve Coin credit card for crypto integration, at the moment, it's not possible just because there is a really strict government regulations and if we don't follow it or whatever happens if we like to push our own narrative, umm... even the sanctions, you know, stuff like that, like if I issue a credit card, people can't use it in Russia so I don't believe that's fair or in other countries as well because of the sanctions and stuff like that. So in the future, and I believe that's going to be very soon, when there's going to be a new world order, whatever you want to call it. Possibly opening a global bank again in the near future, but that's my belief in the bank where you, like, back in the days you can walk in, you can exchange GRC for gold or for whatever currency you want."

So, it'll be actualized when new world order come? Which you believe is going to be very soon, but for all we know can probably happen in decades to come? Where's this great details you're telling me? Am I watching wrong video? For the sake of giving you benefit of doubts, though, I'd ask you again to provide me the link to that video of explained in great details, because from what I watched, with the only explanation was "in the future" and "in the near future" it's rather ambiguous, perhaps even unclear. And that lead us to my sidenote on previous post,

[...] how do exactly the global economy being monopolized by USA affect your company's legal status in Australia? Each country has their own regulation for legal bodies, irrespective of US govt. power, the downfall of U.S. of A won't likely suddenly make govt. in Australia, or their neighboring countries to be suddenly more decentralized or centralized. I don't think Australia will suddenly more proactive in adopting or suppressing gold-backed crypto because USD is losing its power.

I also find so many contradicting and questionable statements on your videos, and that's only from three that I watched. But let's limit the discussion to the points above and clear them before moving on others that's kept on my note. Thank you.

[yarik0409]

Nobody can clear your doubts. So just watch us. We are listing on Coinsbit in 4 days. Then Coingecko. Then we purchase our first gold bar and then we list on more exchanges. Actions are my proof. And then we wil start minting gold coins so people can exchange GRC for.