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

[captainbluff]

We need to get to bigger exchange ASAP.. So many coins have gone past XGR.
Also it would be good to contact bter and why not BTC-e to list XGR.
Something needs to happen or to be done, or we are just waiting for the miracle price rise.
Maybe portion of the premine could be used to promote the coin in some way, or even "last chance" IPO through bittrex or bter... i dont know.. just throwing thoughts around =DD

HZe, I am working on getting us listed on Bittrex of course. I contacted Bter and other exchanges, they won't even responded! I am not just waiting for the miracle price rise, I am actively contacting and doing marketing stuff even if you did not realize what is going on under!
I spent more then 200k XGR on marketing and promotion in various ways but there should be a line here, I do not want to spend more at the moment, the rest of the premine is for buying Gold!
And for the other questions i got a few lines above, I do not dare to answer, I do not want to loose our chance to get on that particular exchange...

personally, i think you have a great concept and thought out plan and imo, it's more important to get the real gold connection going than wasting your resources getting added to more exchanges. promoting the exchanges XGR is on and educating the traders on those exchanges along with real gold will bring the other exchanges adding XGR on their own. just getting on those exchanges doesn't insure there will be any trading and the coin could just a easily get delisted for inactivity.

I am in agreement with you. We should not assume that getting listed on a major exchange will guarantee increase in price. Problem is if you back it with gold now, how will price adjust? 

[captainbluff]

I also have a feeling that if we do not back it with gold now that someone else will beat us to it, rendering this coin useless.

[minecoinseveryday]

I am in agreement with you. We should not assume that getting listed on a major exchange will guarantee increase in price. Problem is if you back it with gold now, how will price adjust? 

It seems that once the dev purchases the gold, then the coin will be eternally fixed to a specific price unless more gold continues to be purchased. Question is how will the coin continue to purchase more gold after the premine funds are used?

[Mesterlovesz74]

I would be willing to supply 5 grams of gold in exchange for XGR but I don't know how you will transport the gold to the account.

captainbluff, thank you for your offer, but the problem is that I can not send gold to that account I can only send EUR and I have to buy Gold through that account. These restriction are set, there are no exceptions.

[HzE]

I am in agreement with you. We should not assume that getting listed on a major exchange will guarantee increase in price. Problem is if you back it with gold now, how will price adjust? 

It seems that once the dev purchases the gold, then the coin will be eternally fixed to a specific price unless more gold continues to be purchased. Question is how will the coin continue to purchase more gold after the premine funds are used?

You dont seem to get the backing up.. The idea (to my understanding) is to provide minimum value, which "floats" as the price of gold goes up or down.
There is still same room for speculative price or value as any other coin has. Also XGR can have any other feature added to it, that any other coin has.

The edge XGR has over other coins is the idea, which should be put in motion, at least in small scale and in future it can be scaled up as value rises.
Been thinking this all day.. and i think, that small portion of the premine should be used to buy gold now, or we might loose the advantage to some other coin.

In the future decentralized or personal gold reserves could be used to back the value up even higher, but there should be some kind of third party system or network developed for it. So... basically if you deposit gold the third party account, it increases the value  of youre holding and you have the gold stored safely as well as the XGR you hold =)

Just my two sents..

[Mesterlovesz74]

I am in agreement with you. We should not assume that getting listed on a major exchange will guarantee increase in price. Problem is if you back it with gold now, how will price adjust? 

It seems that once the dev purchases the gold, then the coin will be eternally fixed to a specific price unless more gold continues to be purchased. Question is how will the coin continue to purchase more gold after the premine funds are used?

The price of the coin will not neccesserily fixed after I back it up with a certain amount of gold! It is because innovation is the key! If I stop after I finish my gold backup process then the price will certainly decrease to the minimum level and there were no trade activity. I know that for sure, gold alone is not the key. the key is in continous innovation, like multipool, own exchange, exchange with FIAT pairs. I read some great article at bitcoin buzz and I have some idea that later I can approach gold mines and who knows, maybe I can arrange a strategic partnership! Or I can reach to a mobile payment system or something similar! Rich investors are curious about the kryto world and if I can give them a nice offer along with a gold backed up kryptocurrency then it can attract them. Of course there are a lot of milestones ahead of us till I would able to achieve that but I have a college and a university degree so I am capable of making a successful business if I have the resources!

[Mesterlovesz74]

I am in agreement with you. We should not assume that getting listed on a major exchange will guarantee increase in price. Problem is if you back it with gold now, how will price adjust? 

It seems that once the dev purchases the gold, then the coin will be eternally fixed to a specific price unless more gold continues to be purchased. Question is how will the coin continue to purchase more gold after the premine funds are used?

You dont seem to get the backing up.. The idea (to my understanding) is to provide minimum value, which "floats" as the price of gold goes up or down.
There is still same room for speculative price or value as any other coin has. Also XGR can have any other feature added to it, that any other coin has.

The edge XGR has over other coins is the idea, which should be put in motion, at least in small scale and in future it can be scaled up as value rises.
Been thinking this all day.. and i think, that small portion of the premine should be used to buy gold now, or we might loose the advantage to some other coin.

In the future decentralized or personal gold reserves could be used to back the value up even higher, but there should be some kind of third party system or network developed for it. So... basically if you deposit gold the third party account, it increases the value  of youre holding and you have the gold stored safely as well as the XGR you hold =)

Just my two sents..

HzE! Great thoughts, I was thinking something similar! I have some kind of bond or share system in my mind (not fully detailed yet) so everyone can be assured that he has a value in his hand! Later I will look around and improve my theory and ask a corporate lawyer about it...

[chodsdayz]

dev you could quite simply achieve this without even using the pre mine as such!

example:

premine = 4 million coins,

80% of that is the stabilizer fund (to buy gold with) which works out at 3,200,000  or 3.2 million coins

instead of spending some of that on gold why not stake it!

the action plan states that staking profit is 10% annually this works out at 320.000 coins are awarded for staking per year

divide that into weeks 320,00 / 53 = 6.037,

thats just over 6000 coin per week for free,

my best advice would be to stake the premine and cash the 10% interest every week to buy gold, this way you are not losing any of the premine either

whats 6000 coins worth at the moment appox $25,

$25 worth of gold every week!!!!!!!, it wouldnt take long for that to build up and give this coin the backing it needs, like others have said this is the focal point, once this happens you will have bittrex begging YOU to have xgr on their exchange,

you seem to be just waiting for the market to move so you can get more gold for your money to boost the market, but this move may not even occur unless the coin is backed, best to step up now before its too late

no offense but it doesn't seem like any of the set parameters in the action plan are being kept too, and people will soon loose interest and mine else where

[HzE]

Thanks Mesterlovezs!

chodsdayz has a GREAT point.. The stakes from the premine would give stable and guaranteed rise, allmost a gram of gold per week. As the value rises, the stake from the premine would buy more and more gold and that would increase the value of XGR more and more + if you combine that with the idea i threw out... XGR could easily wipe the floors with BTC.. easily.

[yogibaer]

Dev, I tried to compile on linux debian squeeze but seems to fail .... any help? which packages do i need?

apt-get install <package list> ?

Do you have a ready linux binary for goldreserved (I need the daemon)

Coins will stake in a wallet.dat with the daemon, too?


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That is a brilliant Idea to use the stake to buy gold weekly, that will give the feeling that the fund is growing week after week month after month and everyone could watch the gold stock growing.

[HzE]

Thanks Mesterlovezs!

chodsdayz has a GREAT point.. The stakes from the premine would give stable and guaranteed rise, allmost a gram of gold per week. As the value rises, the stake from the premine would buy more and more gold and that would increase the value of XGR more and more + if you combine that with the idea i threw out... XGR could easily wipe the floors with BTC.. easily.

+ the premine should still be used in the later phase to buy the "main" reserve  and for charity purposes, which are mentioned.

Good thoughts have been thrown out, so now we need actions, before the ideas are stolen or re-thought and used elsewhere.

[Ell- -Mine]

I back chodsdayz, brilliant idea for a steady gold backup. I, for one would certainly give any stake i receive towards an account to transfer in to gold 

[Mesterlovesz74]

I back chodsdayz, brilliant idea for a steady gold backup. I, for one would certainly give any stake i receive towards an account to transfer in to gold 

We have a donation account in XGR and in BTC as well, so you can send any amount you think fit. Unfortunatelly, just to keep the premine in the same address, I had to "move" them "back" to the same address every time I send (IPO1,2,3) and bounties, marketing campaign costs, etc. So staking won't give that much amount and anyway staking is not a steady weekly income. I started to stake now and it gives me 0,017XGR for 5 days.

Anyway, for next week I will come up with some fast action plan, how to start the backing up project!

[chodsdayz]

sorry but this is rubbish, surely you should just have your stacking balance 3.2 million coins just sat in a wallet staking, why keep moving it? you say about paying fees? this shouldnt be coming out of the 80% premine! this is completely going against the action plan and is not giving the coin any structure, the action plan states that:

the balance will be staked from block 1! has this been done?     i doubt it!

the premine will be sold at 2-3 weeks!      not done!

now that the reward has dropped people will lose interest and your not willing to counteract this buy buying gold

it seems to me that you are not sticking to your action plan, the action plan is not even correct, you seem to want to rely on donations and not actually sell any premine and are just trying to get as much gold as possible for your 3.2 million coins, the idea is not to get as much gold as possible but to merely buy gold to back the coin. your current 3.2 million coins are worth approx $15,162.88, stop being greedy,
you say about coming up with a fast action plan next week! have we not provided one???

im sorry but you are not keeping to your action plan and i am no longer willing to back let alone mine this coin!!!!!!!!!

[yogibaer]

.... I started to stake now and it gives me 0,017XGR for 5 days. .....

Are you kidding? 0.017 XGR stake for 3 million coins within 5 days? I have far far far less than millions and I staked a few coins every day!

OK back to topic. We know there was a plan but as it seems this plan didn't work the way it was thought.

I suggest you let the community of XGR vote how the way goes on.

There are suggestions to buy gold weekly or monthly. Buying gold and presenting the gold fund is the key feature of this coin! Don't forget about that.

As other members said, let the premine stake and lets start building the gold fund. Forget about the charities for now! Please DON'T GET ME WRONG HERE! When the coin is worth something charities have something from the coin, when the coin is worth nothing charities have nothing from the donation in XGR!!! When there is a reasonable value for XGR the 20% can go to charities as it was planned!

What about the IPO holders? Don't their XGR stake? Comeon add your stake to the stake of the premine.

If the premine is not touched and gold is only bought from stake interest the pemine can be sold later on entirely for much more to buy much more gold than initially planned.

When I see that this project is going ahead I would also donate stake I earned to the weekly or monthly stakes being used to buy gold. And I'm sure other XGR believers would do the same then.

Dev think about it!

Thanks!!

[Mesterlovesz74]

sorry but this is rubbish, surely you should just have your stacking balance 3.2 million coins just sat in a wallet staking, why keep moving it? you say about paying fees? this shouldnt be coming out of the 80% premine! this is completely going against the action plan and is not giving the coin any structure, the action plan states that:

the balance will be staked from block 1! has this been done?     i doubt it!

the premine will be sold at 2-3 weeks!      not done!

now that the reward has dropped people will lose interest and your not willing to counteract this buy buying gold

it seems to me that you are not sticking to your action plan, the action plan is not even correct, you seem to want to rely on donations and not actually sell any premine and are just trying to get as much gold as possible for your 3.2 million coins, the idea is not to get as much gold as possible but to merely buy gold to back the coin. your current 3.2 million coins are worth approx $15,162.88, stop being greedy,
you say about coming up with a fast action plan next week! have we not provided one???

im sorry but you are not keeping to your action plan and i am no longer willing to back let alone mine this coin!!!!!!!!!

Thank you for your support. Please go on and mine another coin!

Every balance is staking after 24 Hours. But clearly you do not know the fact that EVERY coin change addresses while you spent a part of them. To prevent that you have to use the expert feature of the wallet, but every time you spent from a balance it is like you have a new 0 hour balance in your account so it has to be wait 24hours to stake!

From the bitcoin wiki:
"When the output of a transaction is used as the input of another transaction, it must be spent in its entirety. Sometimes the coin value of the output is higher than what the user wishes to pay. In this case, the client generates a new Bitcoin address, and sends the difference back to this address. This is known as change. "

CHeck that here:

https://en.bitcoin.it/wiki/Change

So every time I payed for promotion, IPO, bounties then my balance became a new, fresh balance! Therefore staking is not giving much.

"The premine will be sold 2-3 weeks" yes, that was the plan, and it is not done yet! It is for the sake of the coin, if you are not soo blindsided you should see that too! There are no exchange that can consume the 3 mill premine without killing the price!

15162 USD is around 24 BTC which will get us to a minimal price of 60 sat!! I am not greedy for myself I am greedy for the coin! We need at least 200-400 sat minimal price to get to somewhere!

About the action plan! Yes you gave me suggestions an options what to do. The plan means I have to decide which is best for the coin! I have to buy a few gramm of gold, to start with but from which fund that is the real question!

P.S.: I am sticking with next week so desperate because I think I cooked something. It will come up till sunday. If not, then I have to decide where to go!

[chodsdayz]

You should have a set stake balance sat in a wallet, not spending out of it this is your own fault the action plan was not to rely on people giving you their stake but to stake the premise it's self this should be completely separate from any fees you have pay, by doing this you have not kept to your action plan and to be honest have lost the interest of many miners and investor, if you had just kept to your work of selling the premise at 2-3 weeks or even now the reward has dropped this coin would now be well ahead, do you have a good reason for not selling the premine apart from hoping to get "more for your money"?, even a gram of gold would have improved the market by now but now by not staking the market is a month behind, why isn't the stake amount sat in a separate wallet gaining that important 10%???

[Mesterlovesz74]

.... I started to stake now and it gives me 0,017XGR for 5 days. .....

Are you kidding? 0.017 XGR stake for 3 million coins within 5 days? I have far far far less than millions and I staked a few coins every day!

OK back to topic. We know there was a plan but as it seems this plan didn't work the way it was thought.

I suggest you let the community of XGR vote how the way goes on.

There are suggestions to buy gold weekly or monthly. Buying gold and presenting the gold fund is the key feature of this coin! Don't forget about that.

As other members said, let the premine stake and lets start building the gold fund. Forget about the charities for now! Please DON'T GET ME WRONG HERE! When the coin is worth something charities have something from the coin, when the coin is worth nothing charities have nothing from the donation in XGR!!! When there is a reasonable value for XGR the 20% can go to charities as it was planned!

What about the IPO holders? Don't their XGR stake? Comeon add your stake to the stake of the premine.

If the premine is not touched and gold is only bought from stake interest the pemine can be sold later on entirely for much more to buy much more gold than initially planned.

When I see that this project is going ahead I would also donate stake I earned to the weekly or monthly stakes being used to buy gold. And I'm sure other XGR believers would do the same then.

Dev think about it!

Thanks!!

Hey yogibaer! I did not forget that backing up the coin with gold is the main priority, but getting us on a major exchange is another importan task! Thats what I tried to acomplish in the last 2 weeks. I have to give a certain amount of time to these programs I started! If they did not happen then I will focus on to the next one.
My words maybe missunderstood here, but I said it earlier that I will start the backup process with a small amount (read back a few pages, that was MY idea in the first place!). I will proceed to that direction after I close this week's plan (successfully or not that will be decided tomorrow!)

[yogibaer]

Hey yogibaer! I did not forget that backing up the coin with gold is the main priority, but getting us on a major exchange is another importan task! Thats what I tried to acomplish in the last 2 weeks. I have to give a certain amount of time to these programs I started! If they did not happen then I will focus on to the next one.
My words maybe missunderstood here, but I said it earlier that I will start the backup process with a small amount (read back a few pages, that was MY idea in the first place!). I will proceed to that direction after I close this week's plan (successfully or not that will be decided tomorrow!)

OK sounds great! Sorry I didn't read each post exactly word by word but I really hope we can move ahead and I'm going to hold my coins: ALL OR NOTHING!!!

[HzE]

.... I started to stake now and it gives me 0,017XGR for 5 days. .....

Are you kidding? 0.017 XGR stake for 3 million coins within 5 days? I have far far far less than millions and I staked a few coins every day!

OK back to topic. We know there was a plan but as it seems this plan didn't work the way it was thought.

I suggest you let the community of XGR vote how the way goes on.

There are suggestions to buy gold weekly or monthly. Buying gold and presenting the gold fund is the key feature of this coin! Don't forget about that.

As other members said, let the premine stake and lets start building the gold fund. Forget about the charities for now! Please DON'T GET ME WRONG HERE! When the coin is worth something charities have something from the coin, when the coin is worth nothing charities have nothing from the donation in XGR!!! When there is a reasonable value for XGR the 20% can go to charities as it was planned!

What about the IPO holders? Don't their XGR stake? Comeon add your stake to the stake of the premine.

If the premine is not touched and gold is only bought from stake interest the pemine can be sold later on entirely for much more to buy much more gold than initially planned.

When I see that this project is going ahead I would also donate stake I earned to the weekly or monthly stakes being used to buy gold. And I'm sure other XGR believers would do the same then.

Dev think about it!

Thanks!!

Hey yogibaer! I did not forget that backing up the coin with gold is the main priority, but getting us on a major exchange is another importan task! Thats what I tried to acomplish in the last 2 weeks. I have to give a certain amount of time to these programs I started! If they did not happen then I will focus on to the next one.
My words maybe missunderstood here, but I said it earlier that I will start the backup process with a small amount (read back a few pages, that was MY idea in the first place!). I will proceed to that direction after I close this week's plan (successfully or not that will be decided tomorrow!)

So... Next week the backing up begins and investors can finally see how the backing up processes and system works?