Greetings MINEr Community!
Today's a very big day for the entire team here at the InstaMineNuggets development!
We are pleased to announce that we aim to bring back the gold standard on up to 10% of our total coin counts as part of our 5 year plan. We intend on backing $MINE with a total of 216494.85 coins, $MINEW 150,000 coins and $MINEW 150,000 coins respectively by 99.9% pure gold bullion purchased by our community/development/VC's.
Today we ventured out into the precious metals market and purchased our first 3oz's of gold bullion for a total cost of $3,692.77 USD which gives us an average cost per ounce of $1,230.92 USD 3X. We will never post the source or exact storage location for our gold bullion reserves due to fear of government intervention and regulation. However, every year on the date of 03/13/15 we will hold an open audit via skype physically inspecting the reserves within the walls of our secure state of the art storage facility ending our fiscal year on December 31.
We are allocationg our 3oz's of gold in the following manner;
$MINE 100 Coins backed @ $1,230.92 USD by Gold Bullion Reserves
$MINEW 100 Coins backed @ $1,230.92 USD by Gold Bullion Reserves
$MINEZ 100 Coins backed @ $1,230.92 USD by Gold Bullion Reserves
We are backing the initial 300 coins at a GOLD/USD exchange rate of $1,230.92 which was the developments outright cost per ounce. We will be backing each coin in a fractional reserve manner of 1/100th of an ounce per coin. Without including the MINE/BTC, MINEW/BTC or MINEZ/BTC exchange rate the INSTAGOLD collection is currently pegged initially at a private market value of $12.31 USD per coin.
Adoption Rewards Program (Miner Points)
Each community adopter of the InstaGold program will be rewarded for confidence and participation in our development by way of "Miner Points". For the life of our program and the length of your ownership the InstaMineNuggets development team will inject Miner Points equaling 10% of your InstaGold holdings each month into your wallet(s). This is a measure used to grow trust and loyalty to our community and project.
Miner Points are "NOT" backed by gold bullion and can be traded freely by members in the open markets.
We are closing this opportunity on 06/02/15 giving community members ample time to research and make an educated decision. If all goes well with this tier we will continue to open additional windows with gold, silver, palladium and platinum backing!
We have a 5, 10, and 15 year development plan in place.
We are mining our future... The question is... Are you? Read More>
http://www.InstaMineNuggets.comEnter The Mine!
Jason Flack
Head Developer
InstaMineNuggets
