[ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 60.

hulla

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Quote from: Twinkledoe on March 12, 2020, 06:35:05 AM

Quote from: libert19 on March 11, 2020, 10:30:42 PM

Quote from: nimogsm on March 11, 2020, 07:03:48 AM

Quote from: libert19 on March 10, 2020, 11:20:08 PM

I'm waiting for the day when exchange(s) will provide pair against gold, imo it's much better than usd pairs.

.. but if there was a possibility of exchange for real gold, it would be even better.

That defeats the purpose of stablecoin, and it has many more problems that comes with it (delivery, taxes, regulations,..)

If in the future there will be option to exchange it to physical gold, I don't think there will be many people that will avail such service. As you mentioned, delivery, taxes, or other documentations that come with it. So it is really like a very complex process to obtain the physical gold. So better stay it in virtual gold. Not so much effort in trading anyway. I hope the team will maintain this project and acquire more gold to increase their supply in circulation.

This project should have really happened and can be done well in the future with the benefits that have been previously planned. Now too many people are hoping for a project that is really real at an affordable price.

This project team are doing platform innovation base on what the crypto traders and investors want which other stablecoins are lagging behind and you can also be reassure that every previous procedure planned by the project team will be executed in the future.
@Twinkledoe, well said cause some people still dont understand the fee and the bother which physical gold requirement entails.

Twinkledoe

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Quote from: libert19 on March 11, 2020, 10:30:42 PM

Quote from: nimogsm on March 11, 2020, 07:03:48 AM

Quote from: libert19 on March 10, 2020, 11:20:08 PM

I'm waiting for the day when exchange(s) will provide pair against gold, imo it's much better than usd pairs.

.. but if there was a possibility of exchange for real gold, it would be even better.

That defeats the purpose of stablecoin, and it has many more problems that comes with it (delivery, taxes, regulations,..)

If in the future there will be option to exchange it to physical gold, I don't think there will be many people that will avail such service. As you mentioned, delivery, taxes, or other documentations that come with it. So it is really like a very complex process to obtain the physical gold. So better stay it in virtual gold. Not so much effort in trading anyway. I hope the team will maintain this project and acquire more gold to increase their supply in circulation.

tbct_mt2

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Quote from: GOLD_official on March 12, 2020, 12:02:31 AM

Dear tbct_mt2,

The annual fee for storing the GOLD token is 0.99%. The half of that amount goes to Bullion Star vault. You don’t think that gold is stored there for free?

Moreover, if you personally kept gold there, you would pay more. The second half of the fee goes to different payments. It is clear that at the moment, 98% of all payments are paid personally by the founders of our company. A little bit later, as the amount of stored gold becomes higher, all the payments will be paid by the GOLD token users though the fee. Everything is exactly the same as in the futures gold market. When you purchase a gold ETF, you also pay an annual commission for owning an ETF. The most important difference is that ETFs are not backed by physical gold. We plan to receive further net profit, as ETF issuers get it.

But you can make everything personally. Buy gold, transport it, pay for storage, sale commissions, etc. For small amounts, expenses can be up to 100 percent or more of the purchased gold value.

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

Dear GOLD_official,

You explanation is more than enough, with too many details and operational fundamentals of the storage procedures with Bullion Star vault as well as on ETF markets. You gave me some information I don't know, so I much appreciated it.

For the worry about fees, I don't have it. What I talked above is just to help to blow away any questions or worries about the fees (that is not expensive to care about). The personal steps you guided can only be applied for professional investors. For amateur, using the GOLD marketplace is the best, in my opinion.

GOLD_official

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Quote from: tbct_mt2 on March 11, 2020, 07:28:28 AM

Quote from: wwzsocki on March 11, 2020, 06:24:17 AM

Quote from: tbct_mt2 on February 19, 2020, 07:20:48 AM

...The fee is only less than 0.1% annually, according to the site's notes. 0.1% per year, it does not expensive...

To be exact this is an annual storage fee of 0.99% (0.0027% per day)
~

Thank you for your snapshot of your deducted fees.

The fee is too small, personally but with the latest changes of interest rates from SEC, it will result in potential discuss about it (but I hope we won't fall into it). In crypto, you can earn fastly money so 0.1% per year should not be taken into consideration. Moreover, the fee (annual) is low than some exchanges' trading fees.

Dear tbct_mt2,

The annual fee for storing the GOLD token is 0.99%. The half of that amount goes to Bullion Star vault. You don’t think that gold is stored there for free?

Moreover, if you personally kept gold there, you would pay more. The second half of the fee goes to different payments. It is clear that at the moment, 98% of all payments are paid personally by the founders of our company. A little bit later, as the amount of stored gold becomes higher, all the payments will be paid by the GOLD token users though the fee. Everything is exactly the same as in the futures gold market. When you purchase a gold ETF, you also pay an annual commission for owning an ETF. The most important difference is that ETFs are not backed by physical gold. We plan to receive further net profit, as ETF issuers get it.

But you can make everything personally. Buy gold, transport it, pay for storage, sale commissions, etc. For small amounts, expenses can be up to 100 percent or more of the purchased gold value.

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

libert19

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Quote from: nimogsm on March 11, 2020, 07:03:48 AM

Quote from: libert19 on March 10, 2020, 11:20:08 PM

I'm waiting for the day when exchange(s) will provide pair against gold, imo it's much better than usd pairs.

.. but if there was a possibility of exchange for real gold, it would be even better.

That defeats the purpose of stablecoin, and it has many more problems that comes with it (delivery, taxes, regulations,..)

tbct_mt2

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Quote from: wwzsocki on March 11, 2020, 06:24:17 AM

Quote from: tbct_mt2 on February 19, 2020, 07:20:48 AM

...The fee is only less than 0.1% annually, according to the site's notes. 0.1% per year, it does not expensive...

To be exact this is an annual storage fee of 0.99% (0.0027% per day)
~

Thank you for your snapshot of your deducted fees.

The fee is too small, personally but with the latest changes of interest rates from SEC, it will result in potential discuss about it (but I hope we won't fall into it). In crypto, you can earn fastly money so 0.1% per year should not be taken into consideration. Moreover, the fee (annual) is low than some exchanges' trading fees.

nimogsm

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Quote from: libert19 on March 10, 2020, 11:20:08 PM

I'm waiting for the day when exchange(s) will provide pair against gold, imo it's much better than usd pairs.

That would be good, but if there was a possibility of exchange for real gold, it would be even better.

wwzsocki

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First 100% Liquid Stablecoin Backed by Gold

Quote from: tbct_mt2 on February 19, 2020, 07:20:48 AM

...The fee is only less than 0.1% annually, according to the site's notes. 0.1% per year, it does not expensive...

To be exact this is an annual storage fee of 0.99% (0.0027% per day)

https://gold.storage/en/fee

We have talked about the fees a while ago and I even posted a screen with no fees in my wallet but this was only because I sold everything immediately.

Now I hold for a while a few GOLD tokens because the gold price is going up when the hall crypto market is red which is an obvious good decision and shows great use case for the token.

So, now when I am holding GOLd token, finally, I see the fees deducted from my wallet every day.

https://etherscan.io/

hulla

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Quote from: Sterbens on March 11, 2020, 03:11:19 AM

Quote from: GOLD_official on March 11, 2020, 01:29:12 AM

Quote from: btcltcdigger on March 10, 2020, 12:49:47 PM

So tell me, and sorry if this has been asked before, but i didn't have time to read all the pages.
Can a person, holding your token, actually exchange it for physical gold bar?

Dear btcltcdigger,

That is not possible now. We do not provide such service.

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

Does this mean that someday in the future if I hold a GOLD token from now it can be exchanged for physical gold? then in which countries will be available with the exchange can it be sent by shipping expedition?

I hold the GOLD token like I hold real gold.

Theoretically, no because the project was created a couple of months ago and the current features treated by the project team now is to provide a genuine way of buying/holding physical gold anonymously with ease and providing a bulletproof outstanding stable coin which is different from those we have in the market that doesn't accomplish the duty of stablecoin.
Mind you, the team will offer such service of swapping GOLD token for pbysical gold in the future or maybe when 75% of the token holder request for it.

Sterbens

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Quote from: GOLD_official on March 11, 2020, 01:29:12 AM

Quote from: btcltcdigger on March 10, 2020, 12:49:47 PM

So tell me, and sorry if this has been asked before, but i didn't have time to read all the pages.
Can a person, holding your token, actually exchange it for physical gold bar?

Dear btcltcdigger,

That is not possible now. We do not provide such service.

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

Does this mean that someday in the future if I hold a GOLD token from now it can be exchanged for physical gold? then in which countries will be available with the exchange can it be sent by shipping expedition?

I hold the GOLD token like I hold real gold.

GOLD_official

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Quote from: btcltcdigger on March 10, 2020, 12:49:47 PM

So tell me, and sorry if this has been asked before, but i didn't have time to read all the pages.
Can a person, holding your token, actually exchange it for physical gold bar?

Dear btcltcdigger,

That is not possible now. We do not provide such service.

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

libert19

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I'm waiting for the day when exchange(s) will provide pair against gold, imo it's much better than usd pairs.

Bitcoin_Arena

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Quote from: NeuroticFish on March 10, 2020, 04:26:23 AM

That's super expensive. Indeed, just keep up the good work and sooner or later the major exchanges will start listing the token. I guess that this is the best way to move forward.

Yeah, very expensive for a team that did not even carry out an ICO/IEO. The best thing is to gain traction and momentum and as time goes, i believe the exchange listing on bigger platforms will come in naturally

Quote from: btcltcdigger on March 10, 2020, 12:49:47 PM

So tell me, and sorry if this has been asked before, but i didn't have time to read all the pages.
Can a person, holding your token, actually exchange it for physical gold bar?

AFAIK, at this point in time, it's not possible because it involves some costs which makes no sense. But honestly, having the gold token has added benefits of being digital gold while at the same time it's pegged to the gold price

btcltcdigger

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So tell me, and sorry if this has been asked before, but i didn't have time to read all the pages.
Can a person, holding your token, actually exchange it for physical gold bar?

GOLD_official

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Important News!

Digital gold added more gold to the vault. Right now we have 192 bars there. We minted more tokens and have 17,193 GOLD token now.
The remain tokens will be minted later.

tbct_mt2

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Quote from: NeuroticFish on March 10, 2020, 04:26:23 AM

Quote from: GOLD_official on March 10, 2020, 12:44:08 AM

The listing costs around $0.5 mln.

That's super expensive. Indeed, just keep up the good work and sooner or later the major exchanges will start listing the token. I guess that this is the best way to move forward.

When I saw the cost of listing on Binance (given by GOLD_official), I am shocked. With that expensive cost, we have to save that fund for other meaningful things. @NeuroticFish raised a good point, if we know that such an outdated coin like Dogecoin was listed on Binance (without developer team's actitivies after years), GOLD token has it chances, not only on Binance, but also on other good exchanges.

Exchanges get benefits from coins/ tokens that are good and listed on their exchanges, so they will do give free listings if they find potential of projects.

NeuroticFish

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Quote from: GOLD_official on March 10, 2020, 12:44:08 AM

The listing costs around $0.5 mln.

That's super expensive. Indeed, just keep up the good work and sooner or later the major exchanges will start listing the token. I guess that this is the best way to move forward.

GOLD_official

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Activity: 676

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Quote from: posi on March 08, 2020, 06:07:28 PM

Quote from: GOLD_official on March 08, 2020, 11:50:29 AM

Quote from: hosseinimr93 on March 06, 2020, 12:54:55 PM

The last time number of Gold tokens was announced here, that was 11,000 tokens which was equivalent to 11,000 gram of real gold.
I just checked the BullionStar account of Digital Gold. Seems that more physical gold has been bought. Now 19,200 gram of gold is stored in BullionStar vault.
That can be verified through the following link.

https://www.bullionstar.com/myaccount/audit
(Account number: 17081)

Dear hosseinimr93,

Yes. We added some more gold in the vault and soon we will announce more GOLD tokens minted.

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

This is totally a good news 2,000 more Gold tokens were minted on 25/02/2020 and more is expected to be minted just in 13 days now i believe the token trading volume almost hit $20 Million daily record but it will be nice if the token is listed on exchange site like Binance and Kucoin.

Dear posi,

We do not plan a Binance listing. It has no economic meaning. Now the team bought gold for $1 mln. The listing costs around $0.5 mln.
Regards,
Support Team @ Digital Gold
https://gold.storage

tbct_mt2

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Quote from: GOLD_official on March 08, 2020, 11:50:29 AM

This is totally a good news 2,000 more Gold tokens were minted on 25/02/2020 and more is expected to be minted just in 13 days now i believe the token trading volume almost hit $20 Million daily record but it will be nice if the token is listed on exchange site like Binance and Kucoin.

Any plan to list GOLD token on Binance? It will be cool for the GOLD platform and its future expansion. If GOLD token appears on Binance, many traders and investors will know about it. They can easily to trade and convert their money to Gold tokens from some crypto currencies (available for conversion at the moment on the GOLD marketplace).

Quote from: hosseinimr93 on March 09, 2020, 02:42:40 AM

Quote from: hulla on March 08, 2020, 06:59:10 PM

Speaking if the new minted Gold tokens, with what i have here i believe it going to be 7,000 tokens is will be 17,194 tokens in total and 17,200 grams assets in Gold

Currently, there are 19,200 gram of gold stored in BullionStar vault. Number of Gold tokens in circulation is 17,200. So, 2000 gold tokens should be added.

Don't worry. The GOLD project has grown very gradually and sustainably as I see from their minted tokens. The team tend to be very carefully to expand their platform

hosseinimr93

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Quote from: hulla on March 08, 2020, 06:59:10 PM

Speaking if the new minted Gold tokens, with what i have here i believe it going to be 7,000 tokens is will be 17,194 tokens in total and 17,200 grams assets in Gold

Currently, there are 19,200 gram of gold stored in BullionStar vault. Number of Gold tokens in circulation is 17,200. So, 2000 gold tokens should be added.

Topic: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold - page 60. (Read 31537 times)