[ANN][GoldReserve][XGR]X11 Unique Stabilizer Fund, BACKED BY GOLD NOW!

[janos666]

How does IPO work? Who can buy?

IPO is closed now. I asked my friends whether they fund my coin and I offered them an IPO. 3 of them interested. They are the IPO holders now.

Got a couple of queries for you here, why have you sold the IPO before mining even started? The ANN says it won't be sold for five days, or until daily volume equals the IPO amount, presumably to prevent dumping? So why has it been sold already?

Also, how does selling it to your friends benefit the community and the coin? Your Initial Private Offering does nothing to ensure a fair distribution, just the opposite in fact.
Less than 275,000 coins have been mined by the whole community at this moment, and your three friends have 700,000 between them. Not good.

And how much was it sold for? What was the price per GRE, how much BTC was received in total, and where is that BTC? Will you supply the address for the community?

In the interest of transparency, I thank you in advance for your reply.  

So, first question, I do not understand. IPO supposed to be closed when mining starts, cause IPO is for inverstors who want to support the project, and they get coins for their trust and money. 2nd and 3rd question, makes no sense, IPO is not sold already cause we are on an exchange for a couple of hours, volume is so low that selling the IPO is impossible.

4th question: I made a Pre-Ann a week or 2 ago and all I got was negative comments, saying scam, begging letter and other not really nice things. NO ONE THOUGHT I TRUSTWORTHY ENOUGH, which is not understandable, because I gave my full name and some data about me! So as NO ONE wanted to fund my project, I asked my friends and as they know I am honest and trustworthy, they gave me the funds. So selling the IPO to my friends, was the greates help to the community, because that helped me to bring this coin to life!

5th question: The BTC and FIAT I got from my investors was exactly the amount I needed to launch this coin.

So it has it been sold to your friends then? Yes or no?

If yes, how much for? And please don't say "exactly the amount I needed", what was the IPO price for 1 GRE? If you are hoping to build a currency backed by a reserve of gold, any potential investor has the right to know ALL the details concerning the acquisition of the gold, INCLUDING how much BTC or fiat was generated from the IPO. You've proposed something quite different to the type of coin usually seen on this forum, and to succeed, it has to be transparent.

Why should he tell you how much BTC I paid?
Should it be possible for me to ask a random exchange administrator about your lifetime trade history and receive a detailed report (if there is anything in there database)?

I'm sorry, I didn't realise it was such a sensitive issue. It's a simple enough question, how much was the IPO?

It's not that kind of a sensitive issue. It's just something what reasonable people do not usually share with random strangers on the internet without a proper reason.
It's similar to asking someone to publicly post scans from their bank statements. Would you do that if I asked you? How much did you pay for your car, or your house? Can I ask the dealer on your behalf?

 
Did I ask for your bank statement, or the details of your mortgage or car repayments? I don't think I did.

No, just the price of a coins Initial PUBLIC Offering, information freely available to people browsing these forums for any other coin you care to mention. Information that is necessary for investors to make informed decisions. Information you seem suspiciously reluctant to share.

At the minute, with your unwillingness to answer the most simple of questions, there is no proof that you paid your friend anything for the IPO.

Oh. So it's a very simple misunderstanding then. It was an Initial PRIVATE Offering rather than an Initial Public Offering.
But wait... This was already mentioned in a post we keep quoting! In fact, you already used this word (private) yourself. So, you understood it was a private offering and yet you kept trolling me as if you though it was public!

Otherwise, the information you seek is in fact publicly available (it have been before the launch, it's just not advertised here). But I won't help you finding it.

There is no misunderstanding on my part I can assure you.

You refuse to reveal the price.

If the information isn't made public, i.e., the price of the IPO, and the address where those BTC are held, then its a scam. If everything is legitimate, then the dev should have no problem providing this information.

And where is the dev? Are you speaking for him? It's probably best if he responds, rather than his friend.

Mesterlovesz is probably sleeping right now.
I am not speaking on behalf of anybody, I am speaking for myself.

[1714100980]

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[1714100980]

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[1714100980]

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[buzznut]

A few things;
I had a boss once tell me he was a great teacher. He said people have to come to him, in other words it wasn't freely given. I have been told many times that I am a great teacher, I have always given freely of my knowledge. I don't feel the need to go around saying this to people, I only say it here to raise a point.

So who is a great teacher, the one that needs to assure everyone around him that he is great, or the one who teaches freely?

I won't trust someone who feels they need to say, "trust me, I am an honest person" 100 times.

Also at issue, there have been numerous requests for transparency and the dev and his buddies have responded with sidestepping and BS. This does not create trust. This creates suspicion and questions.

My advice is this, either choose to be completely transparent with ALL information if you wish to be trusted-or do not and take your chances with the development of this coin. Stop saying trust me--trust is earned. It is earned through open and honest communications, not through assurances that you are trustworthy.

You must realize that there have been scam after scam in this market and people will NOT trust you simply because you think they should. The fact is that coins that have dev teams that are transparent with their info and professional in their dealing with critics and consumers are successful. Reverting to flaming critic's posts does not instill confidence.

"You are spreading FUD." = I can not formulate an intelligent response to this.
"People are saying nasty things about me." = I do not have to respond honestly to this.  So there!   

I am going to side with cautious optimism, and hope you are sincere with your stated intentions with this coin. I am currently mining this with the intent of holding onto a bit.

But I assure you, if you choose to ignore critics and consumers who ask for transparent and honest communication you are doomed to fail.

 

[Mesterlovesz74]

This should end pow at block 25000 this would keep the total at 14mil or so coins and make them decent per coin price.

I looked around before I carefully choose the coins max amount. I know that it is fancy to have a coin which has low max amount, but it is because those coins offer no more than that! 40 mill is a good amount, there will be around 28 mill after POW ends. This is a long term plan, I don't need a coin which can be mined only for a couple of days. Everyone should get a chance to hop on. Price can be lower at the begining, but I don't plan to abandon this coin so it will be here for a long time!

[Mesterlovesz74]

How does IPO work? Who can buy?

IPO is closed now. I asked my friends whether they fund my coin and I offered them an IPO. 3 of them interested. They are the IPO holders now.

Got a couple of queries for you here, why have you sold the IPO before mining even started? The ANN says it won't be sold for five days, or until daily volume equals the IPO amount, presumably to prevent dumping? So why has it been sold already?

Also, how does selling it to your friends benefit the community and the coin? Your Initial Private Offering does nothing to ensure a fair distribution, just the opposite in fact.
Less than 275,000 coins have been mined by the whole community at this moment, and your three friends have 700,000 between them. Not good.

And how much was it sold for? What was the price per GRE, how much BTC was received in total, and where is that BTC? Will you supply the address for the community?

In the interest of transparency, I thank you in advance for your reply. 

So, first question, I do not understand. IPO supposed to be closed when mining starts, cause IPO is for inverstors who want to support the project, and they get coins for their trust and money. 2nd and 3rd question, makes no sense, IPO is not sold already cause we are on an exchange for a couple of hours, volume is so low that selling the IPO is impossible.

4th question: I made a Pre-Ann a week or 2 ago and all I got was negative comments, saying scam, begging letter and other not really nice things. NO ONE THOUGHT I TRUSTWORTHY ENOUGH, which is not understandable, because I gave my full name and some data about me! So as NO ONE wanted to fund my project, I asked my friends and as they know I am honest and trustworthy, they gave me the funds. So selling the IPO to my friends, was the greates help to the community, because that helped me to bring this coin to life!

5th question: The BTC and FIAT I got from my investors was exactly the amount I needed to launch this coin.

So it has it been sold to your friends then? Yes or no?

If yes, how much for? And please don't say "exactly the amount I needed", what was the IPO price for 1 GRE? If you are hoping to build a currency backed by a reserve of gold, any potential investor has the right to know ALL the details concerning the acquisition of the gold, INCLUDING how much BTC or fiat was generated from the IPO. You've proposed something quite different to the type of coin usually seen on this forum, and to succeed, it has to be transparent.

Yes it was a misunderstanding I sold the IPO to my friends, because no one else want to take part! BUT IPO holders have all their IPO in their account (or at this point IPO1 sent already, IPO2 and IPO3 is still in the Premine account).

I got BTC and FIAT for IPO, I had the BTC in the donation account which is in my signature. As I said before I spend it all, because I asked only that I thought is enough for starting the coin.
If you want to know the BTC/GRE ratio, here it is: 1 GRE was 0.000002 BTC.

You got your answer, but please do not try to use it to spread FUD about it. It was as I thought it suits my need. End of discussion.

2nd thought: If you try to say that the IPO holders then can sell their IPO right after the price will reach that point, that is a pointless discussion, because as Janoss666 stated, he is a long term IPO holder, as he BELIEVES in me, cause he knows me!

As I see it now, IPO won't be a matter after the community mine a few times more then the IPO.

[janos666]

You refuse to reveal the price.

Yes I did because I felt I should let Mesterlovesz decide about this.

And to be honest I felt I deserve to keep my private investments ... well ... private ...
I don't really understand why you couldn't accept that. I am not a developer, I am a customer and I believe customers deserve privacy, especially when participating in private offerings ...

I bet you would decline to reveal any informations about your private investments and you would be furious if somebody asked a third parties to release these informations about you and they did.
I am not sure if I should admire Mesterlovesz for how hard he tries to please you all or advise him to keep his over-excitement about his coin in check. If it were my project, I wouldn't reveal these kind of informations.

But since he already told you the price, I will supply a proof about the transaction. I left a public note on blockchain.info about this (hence my earlier clue about "hidden on plain sight"):
https://blockchain.info/address/16BuruNiqeDyAt2xKuCufXovsPvPjDmNPk (scroll down to 2014-05-23 21:54:46 it's the only public note you can find there)

Public Note: Upcoming altcoin project funding by janos666 (as investor) to Mesterlovesz (as current project owner and manager) according to the deal sealed in private conversations on the prohardver.hu forum. [A notice for transparency purposes.]

As you can see:
1: this have happened before the coin announcement
2: it was in fact a private deal
3: I left this public note in case we decide to reveal this information (or to be found by curious people who care to look instead of making demands)

[yogibaer]

German version for GRE Coin:

here: https://bitcointalk.org/index.php?topic=645192.0

and on german altcoin forum: http://altcointalk.de/Thread-ANN-GoldReserve-X11-Unique-Stabilizer-Fund

[Justin00]

this one looks interesting.. looks familiar, but still interesting.

[scorpio18]

GoldReserve POOL
http://gre.freemoneyonlines.info/

If you have problem with our pool contact us on Freenode channel #COINMINERS .

1% Pool Fee / PROP payout system

Point your miners at: stratum+tcp://gre.freemoneyonlines.info:3336

Optimized GPU Miner: ./sgminer -k x11mod -o stratum+tcp://gre.freemoneyonlines.info:3336 -u Weblogin.WorkerName -p WorkerPassword

CPU Miner: ./minerd -a X11 -o stratum+tcp://gre.freemoneyonlines.info:3336 -u Weblogin.WorkerName -p WorkerPassword
Spread the hashes!! We need more miners here  

[Mesterlovesz74]

this one looks interesting.. looks familiar, but still interesting.

Someone just told me the same a few pages ago, there were some other coin with the nearly same idea concerning the backup gold part, but that dev wanted to collect 2 mill USD for the process, crazy idea, wasn't last long.

My idea is much more reachable, I do not want the community to collect money for this coin, I want to show first, that I am trustworthy and I am hold on to my coin. After the gold will be safe in the account and anyone can see it is there, THEN people can decide if this coin is a shitcoin or not!

[andyjhj]

it seems amazing, but i still can't image the further of the coin. If no enough money dump into the coin, how can the price be fixed? Anyway, i'm now mining it.

[yogibaer]

it seems amazing, but i still can't image the further of the coin. If no enough money dump into the coin, how can the price be fixed? Anyway, i'm now mining it.

actually that's a good question.

- 1kg gold costs about 40500 $ today.
- we have 40 Mio. coins

If the whole amount of coins is backed by 1kg gold that means 1 coin is 0.001 USD or each coin can be traded into 0.000025g gold

The question is does the dev get at least 1kg gold or better more?

Dev, do you plan to constantly rise the amount of gold after the inital fund (80%) as mentioned in the first post or is this amount of gold fixed forwever once it's bought?

[Mesterlovesz74]

it seems amazing, but i still can't image the further of the coin. If no enough money dump into the coin, how can the price be fixed? Anyway, i'm now mining it.

Selling the premine and converted to Gold will give a guaranteed fix buyback price! For that to get higher the community should donate a few percentige of their gain on this coin. It is written in the Announcement. But that is Milestone 3 at least. You should worry about that part later. (oh, wait, no you shouldn't, because you do not mine this...)

[Vlizzjeffrey]

where is all the hashrate at?

pool.mn has 1.8 gh, other pools about 1 gh all 2gethr, but net hash is 5.5 gh

where is the other 2.8 gh/s hash comming from

[Mesterlovesz74]

where is all the hashrate at?

pool.mn has 1.8 gh, other pools about 1 gh all 2gethr, but net hash is 5.5 gh

where is the other 2.8 gh/s hash comming from

Probably private mining pools mine GoldReserve, and as I saw that from time to time hashrate jump up 3-5 Ghs suddenly, and stays that way till diff jump to 4-500, I assume a multi is mining GoldReserve as well.

[Amph]

where is all the hashrate at?

pool.mn has 1.8 gh, other pools about 1 gh all 2gethr, but net hash is 5.5 gh

where is the other 2.8 gh/s hash comming from

chinese fpga, x11 is dead

unless this is on trademybit, but i doubt..

[Mesterlovesz74]

it seems amazing, but i still can't image the further of the coin. If no enough money dump into the coin, how can the price be fixed? Anyway, i'm now mining it.

actually that's a good question.

- 1kg gold costs about 40500 $ today.
- we have 40 Mio. coins

If the whole amount of coins is backed by 1kg gold that means 1 coin is 0.001 USD or each coin can be traded into 0.000025g gold

The question is does the dev get at least 1kg gold or better more?

Dev, do you plan to constantly rise the amount of gold after the inital fund (80%) as mentioned in the first post or is this amount of gold fixed forwever once it's bought?

Of course, as mentioned in the first post, there will be a donation account, everyone welcome to donate. The donation will be divided as the premine, so every donation will rise the amount of Gold!

[Mesterlovesz74]

Milestones added to first post.

[asemov]

gre.hashlink.eu
Up and running at last...
We had some Wallet compilation issues. It's fine and running ok now.

- 1% Fee
- PROP Payout system
- Dedicated Servers
- Multicoin Pool
- High performance NODE.js backend with Custom MPOS Frontend

Spread some hash please. And Happy mining !

[MiMiMiner]

When is this coin going to the exchanges??

[yogibaer]

When is this coin going to the exchanges??

There is an exchange already: https://www.allcoin.com/trade/gre_btc