[ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 56.

GOLD_official

copper member

Activity: 676

Merit: 181

Quote from: Bitcoin_Arena on April 27, 2020, 12:59:39 PM

I know it's in the interest of the team and members at large to have more exchanges where the GOLD Token can be traded but bitforex is a scandalous exchange. The number of accusations of them stealing people's funds and faking volume are growing by the day.

It would be good to dissociate from them and also avoid future losses to the company in case they decide to pull off an exit scam as complains keep growing. I understand to place buy orders in the exchanges so if they decide to pull of an exit scam. It might affect the project's funds too.

Dear Bitcoin_Arena,

The best way to trade is to use the official Digital Gold marketplace. We have a spot price and fast transactions.

Regards,
Support Team @ Digital Gold
https://gold.storage

Ayobami99

copper member

Activity: 617

Merit: 3

The wonders of the blockchain technology

Quote from: webtricks on April 27, 2020, 09:46:36 AM

Quote from: Ayobami99 on April 27, 2020, 12:13:34 AM

Here is the report of my findings :
https://www.uptrennd.com/post-detail/why-the-world-need-digital-gold-stablecoin-at-this-time~MzEyMjAy
I hope you'll enjoy it

This is really a high-quality article. You started it with the advantages of gold then shifting to the benefits of blockchain technology. Then perfectly explained why Digital Gold is the best option to invest in Gold securely and anonymously. If you don't have any problem then I would like to translate the part of your article and publish it in Indian Section.

😁 yea... No problem. You are free to. Feel free to tag me @ayobami99 so i can give my little upvote 👍 💪

Bitcoin_Arena

copper member

Activity: 2128

Merit: 1814

฿itcoin for all, All for ฿itcoin.

I know it's in the interest of the team and members at large to have more exchanges where the GOLD Token can be traded but bitforex is a scandalous exchange. The number of accusations of them stealing people's funds and faking volume are growing by the day.

It would be good to dissociate from them and also avoid future losses to the company in case they decide to pull off an exit scam as complains keep growing. I understand to place buy orders in the exchanges so if they decide to pull of an exit scam. It might affect the project's funds too.

webtricks

legendary

Activity: 1918

Merit: 1759

Quote from: Ayobami99 on April 27, 2020, 12:13:34 AM

Here is the report of my findings :
https://www.uptrennd.com/post-detail/why-the-world-need-digital-gold-stablecoin-at-this-time~MzEyMjAy
I hope you'll enjoy it

This is really a high-quality article. You started it with the advantages of gold then shifting to the benefits of blockchain technology. Then perfectly explained why Digital Gold is the best option to invest in Gold securely and anonymously. If you don't have any problem then I would like to translate the part of your article and publish it in Indian Section.

GOLD_official

copper member

Activity: 676

Merit: 181

Quote from: Ayobami99 on April 27, 2020, 12:13:34 AM

Quote from: Ayobami99 on April 02, 2020, 03:41:06 AM

I am not so sure if anyone have asked this question before :
You said Chainsecurity audited your smart contract, you even provided the details of their report in a pdf file. But no where online is there to confirm it not even on chainsecurity website, I have sent an email to them for confirmation no reply yet. But can you give us proof that the document is actually from Chainsecurity? Any online or official confirmation link from them?

2. I have made my research and confirmed that you actually have 19000+g of gold in the bullionstar vault, this is great. How do people who purchase your tokens confirm that they are true owners of the physical portion of the gold in your care? Any legal documents in case? These are things that settles the mind of the holders.

3. Your stablecoin looks like securities... Any word or confirmation from SEC?
Edit: I'll continue to check this space for answers

Thanks so much for the answers. I concluded my research.
Here is the report of my findings :
https://www.uptrennd.com/post-detail/why-the-world-need-digital-gold-stablecoin-at-this-time~MzEyMjAy
I hope you'll enjoy it

Dear Ayobami99,

Thanks for the great article. Nice to read how people use GOLD tokens.

Regards,
Support Team @ Digital Gold
https://gold.storage

Ayobami99

copper member

Activity: 617

Merit: 3

The wonders of the blockchain technology

Quote from: Ayobami99 on April 02, 2020, 03:41:06 AM

I am not so sure if anyone have asked this question before :
You said Chainsecurity audited your smart contract, you even provided the details of their report in a pdf file. But no where online is there to confirm it not even on chainsecurity website, I have sent an email to them for confirmation no reply yet. But can you give us proof that the document is actually from Chainsecurity? Any online or official confirmation link from them?

2. I have made my research and confirmed that you actually have 19000+g of gold in the bullionstar vault, this is great. How do people who purchase your tokens confirm that they are true owners of the physical portion of the gold in your care? Any legal documents in case? These are things that settles the mind of the holders.

3. Your stablecoin looks like securities... Any word or confirmation from SEC?
Edit: I'll continue to check this space for answers

Thanks so much for the answers. I concluded my research.
Here is the report of my findings :
https://www.uptrennd.com/post-detail/why-the-world-need-digital-gold-stablecoin-at-this-time~MzEyMjAy
I hope you'll enjoy it

hulla

hero member

Activity: 1834

Merit: 566

Quote from: AD Node on April 24, 2020, 08:58:49 PM

This project is really good, Most of the tokens nowadays don't have a real use, it's really hard to see tokenized things doing right but here is totally different, your team is doing just right steps.

The Gold token team consist of people who are highly experienced in the field of blockchain, finances, economy and strategy and this is the one number thing most crypto investors ought to look for before invest in a project but it sad they ignore that aspect.
With that been said, i dont think you notice the project was the first genuine gold backed liquidity stable coin and what i understand about this project is that this is still the beginning of the journey of good tidy which people will see through this project.

AD Node

member

Activity: 140

Merit: 57

https://streamies.io/

This project is really good, Most of the tokens nowadays don't have a real use, it's really hard to see tokenized things doing right but here is totally different, your team is doing just right steps.

hulla

hero member

Activity: 1834

Merit: 566

Quote from: blue_hurricanger on April 24, 2020, 07:42:00 AM

Quote from: GOLD_official on April 17, 2020, 04:22:29 AM

Quote from: NeuroticFish on April 16, 2020, 03:36:08 PM

With these day of nice growth of GOLD price, I got to see myself how storage fee works and I think I've seen a problem.

The website tells that the fee is 0.0027% per day.
I had 5.94 GOLD and although the calculation would say:
fee = 5.94 * 0.0027 / 100 = 0.00016038 GOLD,
my wallet was paying 0.001 GOLD, which is 6 times more.

I'm also curious that since now I have only 0.024 GOLD (which I hoped I can convert into some ETH change for gas and I've seen late that it's under the minimum limit) I'll still pay 0.001 GOLD / day?
I think that some fine tuning is necessary. And yes, I know that you have only 3 decimal places and the contract is live, so I don't know what a fair solution would be.

Dear NeuroticFish,

Thanks for the comment and help with the development of the marketplace. We will discuss that with the developers. If you have left 0.024 GOLD, then there should not be daily charges. Now we charge only from the wallets with more than 1 GOLD on it. You are right, the main problem is in 3 digits, so it is not possible to charge less that 0.001 GOLD.

If you store your tokens on any exchange we do not changes fees.

Regards,
Support Team @ Digital Gold
https://gold.storage

Glad to see this clear up. This is a fair fee and there are things need to have a upkeep to maintain and secure so kudo to Digital GOLD team.

You make a very vital statement because the success of the project, liquidity and the genuine stable in price of the coin in the market are whats important the most. Especially with the up coming bitcoin halving I'm expecting the project to gain more usage.

blue_hurricanger

full member

Activity: 653

Merit: 183

Quote from: GOLD_official on April 17, 2020, 04:22:29 AM

Quote from: NeuroticFish on April 16, 2020, 03:36:08 PM

With these day of nice growth of GOLD price, I got to see myself how storage fee works and I think I've seen a problem.

The website tells that the fee is 0.0027% per day.
I had 5.94 GOLD and although the calculation would say:
fee = 5.94 * 0.0027 / 100 = 0.00016038 GOLD,
my wallet was paying 0.001 GOLD, which is 6 times more.

I'm also curious that since now I have only 0.024 GOLD (which I hoped I can convert into some ETH change for gas and I've seen late that it's under the minimum limit) I'll still pay 0.001 GOLD / day?
I think that some fine tuning is necessary. And yes, I know that you have only 3 decimal places and the contract is live, so I don't know what a fair solution would be.

Dear NeuroticFish,

Thanks for the comment and help with the development of the marketplace. We will discuss that with the developers. If you have left 0.024 GOLD, then there should not be daily charges. Now we charge only from the wallets with more than 1 GOLD on it. You are right, the main problem is in 3 digits, so it is not possible to charge less that 0.001 GOLD.

If you store your tokens on any exchange we do not changes fees.

Regards,
Support Team @ Digital Gold
https://gold.storage

Glad to see this clear up. This is a fair fee and there are things need to have a upkeep to maintain and secure so kudo to Digital GOLD team.

GOLD_official

copper member

Activity: 676

Merit: 181

Quote from: hulla on April 17, 2020, 08:46:44 AM

Quote from: GOLD_official on April 17, 2020, 04:22:29 AM

Quote from: NeuroticFish on April 16, 2020, 03:36:08 PM

With these day of nice growth of GOLD price, I got to see myself how storage fee works and I think I've seen a problem.

The website tells that the fee is 0.0027% per day.
I had 5.94 GOLD and although the calculation would say:
fee = 5.94 * 0.0027 / 100 = 0.00016038 GOLD,
my wallet was paying 0.001 GOLD, which is 6 times more.

I'm also curious that since now I have only 0.024 GOLD (which I hoped I can convert into some ETH change for gas and I've seen late that it's under the minimum limit) I'll still pay 0.001 GOLD / day?
I think that some fine tuning is necessary. And yes, I know that you have only 3 decimal places and the contract is live, so I don't know what a fair solution would be.

If you store your tokens on any exchange we do not changes fees.

Regards,
Support Team @ Digital Gold
https://gold.storage

To avoid misconception because it seems you make a mistake. Do you mean you dont charge fees for token kept on exchange? If you dont charge less than 0.001Gold, is the fee only applied for working days or round the clock?

Dear Hulla,

If you keep your GOLD tokens on crypto exchange we do not charge fee. Yes you are right.

Regards,
Support Team @ Digital Gold
https://gold.storage

hosseinimr93

legendary

Activity: 2380

Merit: 5213

Quote from: hulla on April 17, 2020, 08:46:44 AM

To avoid misconception because it seems you make a mistake. Do you mean you dont charge fees for token kept on exchange? If you dont charge less than 0.001Gold, is the fee only applied for working days or round the clock?

Below is the post already made by GOLD_official regarding the fee charged for tokens kept on exchanges.

Quote from: GOLD_official on October 01, 2019, 07:35:14 AM

According to the agreement with exchanges, where Digital Gold has made a listing, the 0.99% fee is not taken. Any user can keep tokens in his exchange account for years and not pay 0.99% for management.

wwzsocki

legendary

Activity: 2744

Merit: 1708

First 100% Liquid Stablecoin Backed by Gold

Quote from: GOLD_official on April 17, 2020, 04:22:29 AM

... it is not possible to charge less that 0.001 GOLD...

Just add it to your ToS and website in a visible place, just like @NeuroticFish suggest keep everything transparent as possible.

As for now, the fee is still small, but what if the price will rise 10x? Everything is possible and I think devs have to rethink the fee strategy one more time and make an update.

The fee subject comes back as boomerang even in this thread, so it can be considered as a problem which only will grow if not changed on time.

Just my honest opinion and you know that I was also surprised by the fees a few weeks ago, despite, I use the GOLD token from few months and thought that I know everything about it.

hulla

hero member

Activity: 1834

Merit: 566

Quote from: GOLD_official on April 17, 2020, 04:22:29 AM

Quote from: NeuroticFish on April 16, 2020, 03:36:08 PM

With these day of nice growth of GOLD price, I got to see myself how storage fee works and I think I've seen a problem.

The website tells that the fee is 0.0027% per day.
I had 5.94 GOLD and although the calculation would say:
fee = 5.94 * 0.0027 / 100 = 0.00016038 GOLD,
my wallet was paying 0.001 GOLD, which is 6 times more.

I'm also curious that since now I have only 0.024 GOLD (which I hoped I can convert into some ETH change for gas and I've seen late that it's under the minimum limit) I'll still pay 0.001 GOLD / day?
I think that some fine tuning is necessary. And yes, I know that you have only 3 decimal places and the contract is live, so I don't know what a fair solution would be.

If you store your tokens on any exchange we do not changes fees.

Regards,
Support Team @ Digital Gold
https://gold.storage

To avoid misconception because it seems you make a mistake. Do you mean you dont charge fees for token kept on exchange? If you dont charge less than 0.001Gold, is the fee only applied for working days or round the clock?

NeuroticFish

legendary

Activity: 3668

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Quote from: GOLD_official on April 17, 2020, 04:22:29 AM

If you have left 0.024 GOLD, then there should not be daily charges.

There were charges last night, I don't know if they were related to the fact some hours before I still had GOLD in the wallet or not.
However, I've moved away the small amount so I cannot check further.

Quote from: GOLD_official on April 17, 2020, 04:22:29 AM

Now we charge only from the wallets with more than 1 GOLD on it.

Please write this at least into the fees page Wink

I'm glad if my comment did help. Keep up the good work GOLD team!

GOLD_official

copper member

Activity: 676

Merit: 181

Quote from: NeuroticFish on April 16, 2020, 03:36:08 PM

With these day of nice growth of GOLD price, I got to see myself how storage fee works and I think I've seen a problem.

The website tells that the fee is 0.0027% per day.
I had 5.94 GOLD and although the calculation would say:
fee = 5.94 * 0.0027 / 100 = 0.00016038 GOLD,
my wallet was paying 0.001 GOLD, which is 6 times more.

I'm also curious that since now I have only 0.024 GOLD (which I hoped I can convert into some ETH change for gas and I've seen late that it's under the minimum limit) I'll still pay 0.001 GOLD / day?
I think that some fine tuning is necessary. And yes, I know that you have only 3 decimal places and the contract is live, so I don't know what a fair solution would be.

Dear NeuroticFish,

Thanks for the comment and help with the development of the marketplace. We will discuss that with the developers. If you have left 0.024 GOLD, then there should not be daily charges. Now we charge only from the wallets with more than 1 GOLD on it. You are right, the main problem is in 3 digits, so it is not possible to charge less that 0.001 GOLD.

If you store your tokens on any exchange we do not changes fees.

Regards,
Support Team @ Digital Gold
https://gold.storage

NeuroticFish

legendary

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Quote from: Tytanowy Janusz on April 17, 2020, 03:17:18 AM

I didn't say that it is in TOS. I said that if it is than it's 100% fair. If not than it should be added. You have transaction limits, withdrawal limits all around the exchanges/gambling sites. 50$ min withdrawal is not fair. 5$ is fairer than in most services. Not only binance.

The small exchanges expect users have low value tokens and ~~small~~ tiny value investments and do such trades. I've already exchanged my remaining 1$ worth of GOLD into Bitcoin (!!).
Binance indeed has higher limits, but also offers the exchange into BNB of everything close enough to dust.
It's also well known that coins like Dogecoin or Ripple can be easily used to transport tiny amounts out of exchanges.
So all is possible with a tiny bit of imagination.

However, GOLD has to have this info written down. And from my research it's not. I wrote that they have to do something. Updating the TOS and the Fees pages is a valid option.

Quote from: NeuroticFish on April 17, 2020, 02:37:38 AM

I didn't. The tone of my speech can be misleading because English is not my native language.

OK. Then I'll consider as a valid change of opinions. Your idea about ToS was good.

Tytanowy Janusz

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Quote from: NeuroticFish on April 17, 2020, 02:37:38 AM

So if one has 1$ worth of GOLD he cannot do much with it and will be considered donation?

And still some exchanges work with much lower limits. Getting only the examples that suit you don't prove anything.

Can you please point this in TOS? I didn't find it.

I didn't say that it is in TOS. I said that if it is than it's 100% fair. If not than it should be added. You have transaction limits, withdrawal limits all around the exchanges/gambling sites. 50$ min withdrawal is not fair. 5$ is fairer than in most services. Not only binance.

Quote from: NeuroticFish on April 17, 2020, 02:37:38 AM

I don't want to argue unnecessarily, but it seems that you do.

I didn't. The tone of my post can be misleading because English is not my native language. I just wanted to point out that it is completely normal and is happening on almost every service. Also, as you pointed out impossible to change due to 3 decimals in SC. So why even talk about that?

NeuroticFish

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Quote from: Tytanowy Janusz on April 17, 2020, 01:34:39 AM

0.001 Gold is equal to 5 cents. I think that it is more than fair minimal fee for storing gold.

So if one has 1$ worth of GOLD he cannot do much with it and will be considered donation?

Quote from: Tytanowy Janusz on April 17, 2020, 01:34:39 AM

Even exchanges like binance has minimum trade size set to 0.001 BTC (~7$).

And still some exchanges work with much lower limits. Getting only the examples that suit you don't prove anything.

Quote from: Tytanowy Janusz on April 17, 2020, 01:34:39 AM

If both of those information are in TOS than I don't see more fair solution.

Can you please point this in TOS? I didn't find it.

PS. I was trying to help GOLD team to improve, because if I've seen this, others will see it too. I don't want to argue unnecessarily, but it seems that you do. My point is that math is math and should work the same for big or small values. The exceptions should be written down and easy to be found.

Tytanowy Janusz

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Quote from: NeuroticFish on April 16, 2020, 03:36:08 PM

so I don't know what a fair solution would be.

0.001 Gold is equal to 5 cents. I think that it is more than fair minimal fee for storing gold. 5$ minimum transaction also seems to be fair. Even exchanges like binance has minimum trade size set to 0.001 BTC (~7$).
If both of those information are in TOS than I don't see more fair solution. We are buying physical gold. I would not expect that someone will process transactions for the amount of gold that can be hidden under the nail.

Topic: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 56. (Read 31858 times)