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

[Mesterlovesz74]

what you saying makes no sense.
why would coins have to be destroyed? what good would that do other than destroy the ability to keep buying gold?

you buy gold, the coins are resold on the exchange and used to buy even more gold...its really simple to understand

I think he's under the impression that Gold is being bought directly for gold. Its not. Even if it was then still no need to destroy the coin. That would be like destroying fiat currency after you buy gold. Theres no need the receiver of fiat to burn after selling of said gold.

That's not how financial transactions work.

It is simple to understand that XGR would buy more gold... I am just throwing out another idea to avoid the XGR BTC FIAT GOLD loop and the fees and conversion costs which COULD slowly degrade the backing

If the coin is destroyed the main variable on XGR price would be the price of Gold itself since the amount of Gold to existing coin ratio remains the same.

Ok, about the idea: Gold is there to back up the entire amount will be existing after POS end, so 40 mill. Buyback program will start only if interest about the coin is low and the price will go under a certain level. Lets say minimum buyback price will be 1000 sat. When price in a major exchange go under that, coin holders can sell their coins directly to me, via an exchange which will be created only for this purpose.
After that, there can be 2 scenarios,
1. interest goes up again, coin price rise over 1000 sat. Then I can sell the coins with a profit, profit will goes to Gold Fund, minimum buyback price will be higher.
2. Interest goes lower and lower, eventually coin dies. Then I will have 40 mill coins. Ex coin holders have their BTC from the buyback program. End of story.

Final thought: I hope that I can maintain this coin and upgrade it in a way that the Buyback program will never trigger, so Gold Fund will be there only for insurance.

P.S.: How I will manage to grow the Gold Fund after I sold the premine? Good question, I have some ideas, but they have to be a secret to get it through. Nothing shady, only normal market strategies.

[Rage19420]

If you all want to see howler, then venture over to the BANK thread (latest posts)
https://bitcointalk.org/index.php?topic=606388.0

See how someone, who out of the blue concocted a scheme to peg 1 BANK to 1 ounce of gold. Just because they said that's what its worth. 

Only in crypto....

[minecoinseveryday]

If you all want to see howler, then venture over to the BANK thread (latest posts)
https://bitcointalk.org/index.php?topic=606388.0

See how someone, who out of the blue concocted a scheme to peg 1 BANK to 1 ounce of gold. Just because they said that's what its worth.  

Only in crypto....

wow. crypto... "pegged" is not "backed by". this coin has a future!

we are minutes away from the end of mining. i hope i get the last block  

[yogibaer]

Since 5 blocks XGR is POS only!

[kenara]

I thought POW ends at 100,000 block?

[exemplaar]

I thought POW ends at 100,000 block?

POW has ended at block 100.000. That was 3.5hours ago. Block 100.001 is POS only. Shut down your miners. There are still lots of miners mining "air" on minep.it

[husky1971]

I thought POW ends at 100,000 block?

POW has ended at block 100.000. That was 3.5hours ago. Block 100.001 is POS only. Shut down your miners. There are still lots of miners mining "air" on minep.it

Yes it that is cool iam now on 42 place. I buy almost 75.000
and was mining with 2.5 mhz slow. So hope the price is gone up.

And good work dev.

[exemplaar]

I thought POW ends at 100,000 block?

POW has ended at block 100.000. That was 3.5hours ago. Block 100.001 is POS only. Shut down your miners. There are still lots of miners mining "air" on minep.it

Yes it that is cool iam now on 42 place. I buy almost 75.000
and was mining with 2.5 mhz slow. So hope the price is gone up.

And good work dev.

Good, 42th place is a great spot to be, and I'm let's say your neighbor   (top 40)
I start mining late, after block 56.000 when reward was low, I was around 400th place on the list then, but with heavy dedicated drilling i manage into top 40.
Was great experience mining XGR.

[soupapinto]

Where's the new wallet correcting the end of PoW? Where's the panic release of the second wallet to correct PoS after the first one got stuck? Where's the endless deletions of the blockhcain to try and sync the wallet?


oh wait. there isn't any. I keep telling everybody; this is one of the hidden gems of cryptocurrency right now, and it's not even about the gold.

[exemplaar]

Where's the new wallet correcting the end of PoW? Where's the panic release of the second wallet to correct PoS after the first one got stuck? Where's the endless deletions of the blockhcain to try and sync the wallet?


oh wait. there isn't any. I keep telling everybody; this is one of the hidden gems of cryptocurrency right now, and it's not even about the gold.

Man, I believe you miss the thread/coin or you did not read specs properly.

...or...
community, brace yourselves...fudsters are coming.

[soupapinto]

Where's the new wallet correcting the end of PoW? Where's the panic release of the second wallet to correct PoS after the first one got stuck? Where's the endless deletions of the blockhcain to try and sync the wallet?


oh wait. there isn't any. I keep telling everybody; this is one of the hidden gems of cryptocurrency right now, and it's not even about the gold.

Man, I believe you miss the thread/coin or you did not read specs properly.

...or...
community, brace yourselves...fudsters are coming.

Can you read man? Read again what I wrote, past the first few words. We had one of the smoothest end of PoW I've seen.

[exemplaar]

Where's the new wallet correcting the end of PoW? Where's the panic release of the second wallet to correct PoS after the first one got stuck? Where's the endless deletions of the blockhcain to try and sync the wallet?


oh wait. there isn't any. I keep telling everybody; this is one of the hidden gems of cryptocurrency right now, and it's not even about the gold.

Man, I believe you miss the thread/coin or you did not read specs properly.

...or...
community, brace yourselves...fudsters are coming.

Can you read man? Read again what I wrote, past the first few words. We had one of the smoothest end of PoW I've seen.

Huh, sorry man, i read your post too fast. My apology.

Please forgive and forget 

[soupapinto]

Where's the new wallet correcting the end of PoW? Where's the panic release of the second wallet to correct PoS after the first one got stuck? Where's the endless deletions of the blockhcain to try and sync the wallet?


oh wait. there isn't any. I keep telling everybody; this is one of the hidden gems of cryptocurrency right now, and it's not even about the gold.

Man, I believe you miss the thread/coin or you did not read specs properly.

...or...
community, brace yourselves...fudsters are coming.

Can you read man? Read again what I wrote, past the first few words. We had one of the smoothest end of PoW I've seen.

Huh, sorry man, i read your post too fast. My apology.

Please forgive and forget 

Done and done

[Mesterlovesz74]

Where's the new wallet correcting the end of PoW? Where's the panic release of the second wallet to correct PoS after the first one got stuck? Where's the endless deletions of the blockhcain to try and sync the wallet?


oh wait. there isn't any. I keep telling everybody; this is one of the hidden gems of cryptocurrency right now, and it's not even about the gold.

Thank you for your positive attitude! I was afraid that something unexpected would happen, so I got up late just to make sure POS only is really came.

As everything went smoothly, I have a little present for all the commited members of GoldReserve!

Enjoy:

As I promised I evaluated myself with 2 of the Proof of Developers system providers, here is the first result:

http://cryptoasian.com/xgr-goldreserve/

[Rage19420]

Nice, well done!

[yogibaer]

Congratulations Dev 

[smoothdoger]

good on you dev!

so much good stuff from you

[*Sakura*]

Another step to success, Zoltán!

[mxxxxxx]

Nice more eyes will be looking at XGR now

[exemplaar]

Really great work dev.

Also FB page looks great, and this pic wins:(took from XGR fb page)



Bittrex, be ware