Hi blocktrasher18, a very interesting question. While there is no doubt that the total trade volume on the DiaEx would move up IF trade in rough diamonds is allowed, there are some technical issues involved. Rough diamonds do not have a standardized grading system. The globally accepted 4C standard is applicable only to cut and polished diamonds. The concept of Glitzkoin is to allow buyers and traders to operate on the DiaEx platform irrespective, of their physical location. This requires product descriptions to be EXTREMELY standardized. By insisting on a certification for every diamond listed, Glitzkoin ensures that the 4C parameters and other details of the stone, are objectively and accurately assessed - in an biased manner.
Having said all that, we do feel that the DiaEx diamond exchange will, motivate the diamond industry to gradually develop, widely accepted standards related to the grading of rough diamonds.
Hope that this answers your query, thanks for bringing up this issue and allowing us to explain.
Topic: [ANN] DiaEx, Diamond Exchange launched by Glitzkoin - page 3. (Read 2724 times)
Not a diamond trader but, don't you think that allowing rough diamonds to list on DiaEx would further increase the volume of trade on the platform? For me this would translate into more demand for the gtn token and a better price.
Thanks Koineater007, YES we will not splurge ICO funds on paying fancy exchange listing charges. At the same time, we are analyzing more exchange listings, basically working with exchanges that appreciates the performance of the GTN token at a time when most of the cryptos are on the downward march. We should have updates within the next 4 to 5 weeks BUT PLEASE DO NOT indulge in speculation based on rumors and guesses - our Instagram channel is the best way to get instant and accurate updates - subscribe to the channel at https://www.instagram.com/glitzkoin_/
What about listing on other crypto exchanges. In any case, please don't waste ICO funds on paying fancy listing charges. The ICO was meant to get funds for project development - let it be so.
You better to hire a community manager to manage your thread and most of your social media so that you can get focuse to the project.
Hi Cryptoking1567, yes we will actively pursue projects that are focused on improving the community and helping the lesser fortunate in our society. Thanks for taking the time to write this post, it is people like you who motivate us to keep doing even better.
Saw a post on your Telegram about, Glitzkoin supporting the diabetes awareness program in Malaysia - awesome and is this, a regular feature I mean the community support activity.
Hi thisistheend63, good to hear that you have found the Diamond Price Estimator(DPE) tool to be useful. The tool will always remain free even after, the launch of the DiaEx diamond exchange. You can access the DPE by clicking the PRICE ESTIMATOR bar, on the main website at https://glitzkoin.com/
Was using the diamond price calculator from Glitzkoin to check values for grandmoms diamonds. All was going good, I formatted my laptop and lost the link. Can you post it here. Also is the tool available directly on any of your websites. Thx
Hello blocktrasher and kryptocatz, this relates to your comments regarding the upward movement of the GTN token price in Nov 2018. Just to recap, the Glitzkoin ICO was successfully completed in June 2018 at a (GTN) token price of $0.20. The token was listed on Stellar exchanges and began trading in July 2018. The project then moved into the development phase for the DiaEx diamond exchange.
The trading price range on the Stellar exchanges from July 2018 to October 2018, was in the $0.18 to $0.23 range. Impressive if you consider the fact that, more than 70% of the cryptos launched around the same time, lost about 80% of their ICO value within a few weeks of trading on a crypto exchange.
The DiaEx was scheduled to be launched in Q4 of 2018, this schedule has been confirmed. Since the GTN token would be the mode of payment on the DiaEx platform, seasoned crypto traders continue to actively support the project and the token. This is the only logical explanation for the jump in token price from $0.23 to $0.30.
We request everyone NOT to be swayed by rumors, this is a project that is focused on a real world industry (diamonds), it has be built step by step. Follow our instagram account to easily stay updated:
https://www.instagram.com/p/BqK0ZmBA8Av/
The trading price range on the Stellar exchanges from July 2018 to October 2018, was in the $0.18 to $0.23 range. Impressive if you consider the fact that, more than 70% of the cryptos launched around the same time, lost about 80% of their ICO value within a few weeks of trading on a crypto exchange.
The DiaEx was scheduled to be launched in Q4 of 2018, this schedule has been confirmed. Since the GTN token would be the mode of payment on the DiaEx platform, seasoned crypto traders continue to actively support the project and the token. This is the only logical explanation for the jump in token price from $0.23 to $0.30.
We request everyone NOT to be swayed by rumors, this is a project that is focused on a real world industry (diamonds), it has be built step by step. Follow our instagram account to easily stay updated:
https://www.instagram.com/p/BqK0ZmBA8Av/
Noticed that the GTN token has broken through the $0.23 level - it had been hovering around that level for much of July, Aug, Sep and Oct. While I do understand that you do not want rumor fueled speculation, it is only fair if you disclose any valid reasons for that price rise - it is now around $0.30. Many of us have been holding the glitzkoin token for months, I for one went on to buy more after the ICO. Might not be fair to get ignore the crypto community as you near the launch of the diaex diamond buying and selling platform.
I have been holding a bunch of GTN token for a few months, rate was always below $0.22. In the last couple of weeks, this has been hovering around $0.30 - what is the reason for this. Please provide genuine reasons and explanations if any - leave the marketing hype and sales rant aside. I can take my own decisions whether to hold, sell or buy more but, would first like to hear your explanation. Also regarding the diaex trading exchange due this quarter, will it be open to diamond traders all over the world or will you, restrict trade to certain geographical areas. Trying to gauge the GTN token demand that the trade volume of diamonds would generate.
Hi and thanks for your message. We will try our best to organize such charity events in the future. We generally rely on external entities like NGOs to help us with the organization work. The rural India event was basically managed by Aarambh (NGO) and Glitzkoin provided the funding. This NGO has done an enormous amount of social work in the Wai village. We generally do a few press releases about events that we sponsor, the idea is to encourage other business organizations, to play their part.
Curious, read this news report about Glitzkoin CEO Navneet Goenka supporting a charity event in rural India. This is awesome and shows that Glitzkoin is promoted by diamond veteran who cares about the less fortunate in society. Will this be something that Glitzkoin will repeat in the near future.
Hi Cryptoking1567 excuse us if our answer is a bit long but, it is really important to understand the issue from all perspectives. To begin with, certified diamonds in conventional diamond trade do carry a premium price, but the premium attached to these stones far exceeds the actual cost of certification. Since only a small proportion of diamonds traded in the conventional way are certified, these stones attain a degree of exclusivity. This is what allows them command a high price. Diamond price tags contain a significant component that is related to broker and middlemen fees and charges. In many cases, diamonds can pass through a chain of middlemen before reaching the final buyer. Each middlemen adds his margin to the price.
Trading on the DiaEx platform happens without, the need for middlemen, this rules out the possibility of price inflation and cloaking. Since buyers have access to a wide range of certified diamonds on the DiaEx diamond exchange, sellers overpricing their diamonds will not draw buyer interest. The bottom line is that, diamonds listed on the DiaEx exchange would have a reasonable price structure. By ensuring that listings are limited to certified diamonds, DiaEx takes off the exclusivity that sellers try to create for these stones.
Trading on the DiaEx platform happens without, the need for middlemen, this rules out the possibility of price inflation and cloaking. Since buyers have access to a wide range of certified diamonds on the DiaEx diamond exchange, sellers overpricing their diamonds will not draw buyer interest. The bottom line is that, diamonds listed on the DiaEx exchange would have a reasonable price structure. By ensuring that listings are limited to certified diamonds, DiaEx takes off the exclusivity that sellers try to create for these stones.
Was looking to buy a diamond online, noticed that certified diamonds are always charged at a higher price. Considering that you are insisting on certified diamonds to be listed on diaex, will the prices of those diamonds not be too high. Just curious because, if that was true it would mean that the trade figures that you guys estimated for glitzcoin would be tough to achieve.
Hi blocktrasher18, talking about certified diamonds lets for moment visualize conventional diamond trade. A small portion of conventional diamond trade happens with certified diamonds. Sellers assign some type of exclusivity to these diamonds and push up the price. It should be noted that the premium component of the price tag for certified diamonds, is significantly higher than the actual cost of the certification process. Price tags are also inflated with broker commissions and fees.
When you talk about DiaEx, diamond certification is not an option. It is only certified diamonds that are accepted for listing. The huge stock of diamonds that will exist on the DiaEx exchange, will need to compete with buyers, charging a premium for these diamonds would put off buyers. Another important thing about diamond prices on the DiaEx platform is that, trade is conducted directly - no middlemen and no brokers. This also means that the price tag is not inflated with brokerage fees and other charges.
All said and done, prices quoted for certified diamonds on the DiaEx platform will be more realistic than witnessed in conventional trade. Market mechanisms will dictate which diamonds sell and which do not.
When you talk about DiaEx, diamond certification is not an option. It is only certified diamonds that are accepted for listing. The huge stock of diamonds that will exist on the DiaEx exchange, will need to compete with buyers, charging a premium for these diamonds would put off buyers. Another important thing about diamond prices on the DiaEx platform is that, trade is conducted directly - no middlemen and no brokers. This also means that the price tag is not inflated with brokerage fees and other charges.
All said and done, prices quoted for certified diamonds on the DiaEx platform will be more realistic than witnessed in conventional trade. Market mechanisms will dictate which diamonds sell and which do not.
There is no doubt that certified diamonds will boost buyer interest and confidence but, will the price of these diamonds be very much higher than, similar diamonds sold in the markets. Why did you guys make it mandatory to have a diamond certificate for each stone listed.
kryptocatz thanks for your message, to answer your question - will use of the DPE (diamond price estimator) remain free even after the DiaEx diamond exchange is launched in the last quarter of 2018. The answer is a big YES, the high utility tool has grown to become very popular since it was launched in Sep 2018. The diamond price calculator is just one step in our ongoing effort to educate people regarding the beauty and value of diamonds.
Diamond prices can vary widely and understanding the price logistics is critical to making the right purchase. The 4C parameters (color, carat, cut and clarity) have been heard by many but, understanding their implications and the influence that they exert on the price of a diamond will take a while. The diamond price calculator also comes in handy when, a person wants to know the value of a diamond that they already own.
The DPE tool will remain free and using the diamond price calculator will not, make it obligatory to trade on the DiaEx diamond trading platform.
Olga Rosina one of the diamond experts on the Glitzkoin team, has filed an interesting and useful report on diamond price calculators - you can review the report at https://medium.com/glitzkoin/olga-rosina-explains-diamond-price-calculators-1f3697cbf4ab
Diamond prices can vary widely and understanding the price logistics is critical to making the right purchase. The 4C parameters (color, carat, cut and clarity) have been heard by many but, understanding their implications and the influence that they exert on the price of a diamond will take a while. The diamond price calculator also comes in handy when, a person wants to know the value of a diamond that they already own.
The DPE tool will remain free and using the diamond price calculator will not, make it obligatory to trade on the DiaEx diamond trading platform.
Olga Rosina one of the diamond experts on the Glitzkoin team, has filed an interesting and useful report on diamond price calculators - you can review the report at https://medium.com/glitzkoin/olga-rosina-explains-diamond-price-calculators-1f3697cbf4ab
Tried the diamond price calculator and it seems to be quite smart, not that I know too much about diamonds. Easy to use and no requirement for registration or making a payment etc. Is it free only during the test period? Will you be charging users who access the tool after the diaex diamond trading platform is launched? Just curious to know.
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