[ANN] Xaurum [XAUR] - page 212. | Bitcointalksearch.org

Puhi

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Quote from: kaicrypzen on July 21, 2016, 08:50:17 AM

Quote from: Aurum Project on July 21, 2016, 06:54:09 AM

Quote from: kaicrypzen on July 21, 2016, 05:43:10 AM

2.27093139107 XAU comes from 661/291.07 (BTC price divided by minting cost), minting cost is actually what costs an investor to mint a XAU (you invest 291,07$ and you get 1 XAU).

If the price of 1g of gold is 54.80$ then 661$ would buy 661/54.8 = 12.06g. Can you please explain why you mentioned 11.6g?

Can you also please elaborate more on:

Quote from: Aurum Project on July 21, 2016, 05:21:59 AM

so the ratio of gold to xaurum increases.

Thx.

Xaurum ratio is determined by gold reserves/Xaurum money supply, because the gold reserves increase more than the money supply, the base value of all xaurum grows.

Does this mean that for the given example, the base value of a XAU will be 12.06/2.27093139107 = 5.31g ? (Whereas it was 2.26g before the RICO)

No. the additional quantity is divided between all xaurum coins.

kaicrypzen

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Quote from: Aurum Project on July 21, 2016, 06:54:09 AM

Quote from: kaicrypzen on July 21, 2016, 05:43:10 AM

2.27093139107 XAU comes from 661/291.07 (BTC price divided by minting cost), minting cost is actually what costs an investor to mint a XAU (you invest 291,07$ and you get 1 XAU).

If the price of 1g of gold is 54.80$ then 661$ would buy 661/54.8 = 12.06g. Can you please explain why you mentioned 11.6g?

Can you also please elaborate more on:

Quote from: Aurum Project on July 21, 2016, 05:21:59 AM

so the ratio of gold to xaurum increases.

Thx.

Xaurum ratio is determined by gold reserves/Xaurum money supply, because the gold reserves increase more than the money supply, the base value of all xaurum grows.

Does this mean that for the given example, the base value of a XAU will be 12.06/2.27093139107 = 5.31g ? (Whereas it was 2.26g before the RICO)

Aurum Project

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Activity: 550

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We're processing RICO Mint I.

The funds collected for the first mint:

Fiat: 511,763.24 USD
Bitcoin: 125.01095652 BTC
Ethereum: 721.31485884 ETH
Lisk: 7788.57652511 LISK

all the received funds from now on, will be processed at RICO Mint II.

The results of the minting will be published in a few hours.

Aurum Project

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Quote from: kaicrypzen on July 21, 2016, 05:43:10 AM

Quote from: Aurum Project on July 21, 2016, 05:21:59 AM

Quote from: watuba on July 20, 2016, 09:47:50 PM

Quote from: Aurum Project on July 18, 2016, 05:05:21 AM

BT

Xaurum RICO begins

At the moment xaurum price is 454,13$ , the average price from the announcement to today, that will be used for RICO minting was determined as 428,4$. This means, according to the Xaurum coinage formula, the minting price during the RICO would be 291,07$ for old XAU, considering the splitting, this means the minting price of new xaurum will be 0.03638375$ per XAUR.

According to this and the calculation tables, for every BTC I invest worth ~$650, I will get XAUR at the rate of $428.4 per 8000, so ~12138 XAUR/BTC. This will be used to buy gold, but at the base rate, which is 2.26g/XAU. This means I'm getting $123.85 worth of gold for every $428.4 invested. Or ~$188 of physical gold backing each $650(1 BTC) worth of investment. Is this true or is my math incorrect?

1g 999.9 GD Nadir goldbar costs 54,80$ (including storage and insurance),
BTC = 661$;

You get 2.27093139107 XAU * 8000 = 18167.4511286 XAUR and 661$ of gold is bought for the commonwealth (11.6 g) so the ratio of gold to xaurum increases.

2.27093139107 XAU comes from 661/291.07 (BTC price divided by minting cost), minting cost is actually what costs an investor to mint a XAU (you invest 291,07$ and you get 1 XAU).

If the price of 1g of gold is 54.80$ then 661$ would buy 661/54.8 = 12.06g. Can you please explain why you mentioned 11.6g?

Can you also please elaborate more on:

Quote from: Aurum Project on July 21, 2016, 05:21:59 AM

so the ratio of gold to xaurum increases.

Thx.

You are correct, there was a mistake, it is 12.06 g. We've corrected the post.
Xaurum ratio is determined by gold reserves/Xaurum money supply, because the gold reserves increase more than the money supply, the base value of all xaurum grows.

Quote from: watuba on July 21, 2016, 05:38:38 AM

Quote from: Aurum Project on July 21, 2016, 05:21:59 AM

1g 999.9 GD Nadir goldbar costs 54,80$ (including storage and insurance),
BTC = 661$;

You get 2.27093139107 XAU * 8000 = 18167.4511286 XAUR and 661$ of gold is bought for the commonwealth (11.6 g) so the ratio of gold to xaurum increases.

Okay, my math and understanding was way off! So can you tell me what % of my BTC would be backed by real gold if the RICO ended right now, and I had invested BTC in it?

This can't be determined in advance, as it includes empirical variables. The minting process will determine exactly that.

We're currently in the process of minting, it will take a few hours.

kaicrypzen

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Activity: 1344

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Quote from: Aurum Project on July 21, 2016, 05:21:59 AM

Quote from: watuba on July 20, 2016, 09:47:50 PM

Quote from: Aurum Project on July 18, 2016, 05:05:21 AM

BT

Xaurum RICO begins

At the moment xaurum price is 454,13$ , the average price from the announcement to today, that will be used for RICO minting was determined as 428,4$. This means, according to the Xaurum coinage formula, the minting price during the RICO would be 291,07$ for old XAU, considering the splitting, this means the minting price of new xaurum will be 0.03638375$ per XAUR.

According to this and the calculation tables, for every BTC I invest worth ~$650, I will get XAUR at the rate of $428.4 per 8000, so ~12138 XAUR/BTC. This will be used to buy gold, but at the base rate, which is 2.26g/XAU. This means I'm getting $123.85 worth of gold for every $428.4 invested. Or ~$188 of physical gold backing each $650(1 BTC) worth of investment. Is this true or is my math incorrect?

1g 999.9 GD Nadir goldbar costs 54,80$ (including storage and insurance),
BTC = 661$;

You get 2.27093139107 XAU * 8000 = 18167.4511286 XAUR and 661$ of gold is bought for the commonwealth (11.6 g) so the ratio of gold to xaurum increases.

2.27093139107 XAU comes from 661/291.07 (BTC price divided by minting cost), minting cost is actually what costs an investor to mint a XAU (you invest 291,07$ and you get 1 XAU).

If the price of 1g of gold is 54.80$ then 661$ would buy 661/54.8 = 12.06g. Can you please explain why you mentioned 11.6g?

Can you also please elaborate more on:

Quote from: Aurum Project on July 21, 2016, 05:21:59 AM

so the ratio of gold to xaurum increases.

Thx.

watuba

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Activity: 211

Merit: 100

Quote from: Aurum Project on July 21, 2016, 05:21:59 AM

1g 999.9 GD Nadir goldbar costs 54,80$ (including storage and insurance),
BTC = 661$;

You get 2.27093139107 XAU * 8000 = 18167.4511286 XAUR and 661$ of gold is bought for the commonwealth (11.6 g) so the ratio of gold to xaurum increases.

Okay, my math and understanding was way off! So can you tell me what % of my BTC would be backed by real gold if the RICO ended right now, and I had invested BTC in it?

Aurum Project

hero member

Activity: 550

Merit: 500

Quote from: watuba on July 20, 2016, 09:47:50 PM

Quote from: Aurum Project on July 18, 2016, 05:05:21 AM

BT

Xaurum RICO begins

At the moment xaurum price is 454,13$ , the average price from the announcement to today, that will be used for RICO minting was determined as 428,4$. This means, according to the Xaurum coinage formula, the minting price during the RICO would be 291,07$ for old XAU, considering the splitting, this means the minting price of new xaurum will be 0.03638375$ per XAUR.

According to this and the calculation tables, for every BTC I invest worth ~$650, I will get XAUR at the rate of $428.4 per 8000, so ~12138 XAUR/BTC. This will be used to buy gold, but at the base rate, which is 2.26g/XAU. This means I'm getting $123.85 worth of gold for every $428.4 invested. Or ~$188 of physical gold backing each $650(1 BTC) worth of investment. Is this true or is my math incorrect?

1g 999.9 GD Nadir goldbar costs 54,80$ (including storage and insurance),
BTC = 661$;

You get 2.27093139107 XAU * 8000 = 18167.4511286 XAUR and 661$ of gold is bought for the commonwealth (12.06 g edit: correction) so the ratio of gold to xaurum increases.

hatshepsut93

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In the Russian thread a lot of people are asking about exchanges, what's up with them? Will Polo add XAUR?

watuba

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Activity: 211

Merit: 100

Quote from: Aurum Project on July 18, 2016, 05:05:21 AM

BT

Xaurum RICO begins

At the moment xaurum price is 454,13$ , the average price from the announcement to today, that will be used for RICO minting was determined as 428,4$. This means, according to the Xaurum coinage formula, the minting price during the RICO would be 291,07$ for old XAU, considering the splitting, this means the minting price of new xaurum will be 0.03638375$ per XAUR.

According to this and the calculation tables, for every BTC I invest worth ~$650, I will get XAUR at the rate of $428.4 per 8000, so ~12138 XAUR/BTC. This will be used to buy gold, but at the base rate, which is 2.26g/XAU. This means I'm getting $123.85 worth of gold for every $428.4 invested. Or ~$188 of physical gold backing each $650(1 BTC) worth of investment. Is this true or is my math incorrect?

ICOcountdown.com

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Activity: 1008

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Quote from: Aurum Project on July 20, 2016, 03:18:37 PM

Gold storage

We are proud to announce that ‪Xaurum representatives finalised an agreement with ‪‎Loomis‬ - Stockholm (Sweden) based corporation - for exclusive gold storage.
The agreement guaranties safe storage of Xaurum gold including “‪#umbrella‬” insurance policy (this covers everything including war, natural disaster, …).
In addition to safety, we have also agreed to enable ‪transparency‬ for our community - Loomis will enable web access to Xaurum storage balance-sheet (it will take some time)! When enabled, we will give access to this account to everybody!

The decision for Loomis was an obvious an logical one. They are a corporation, present all over the world. They are best in the world at exactly what we need - Safe storage and full insurance coverage.

ABOUT LOOMIS (www.loomis.com/en/About-Loomis):
Loomis is the specialist in creating an efficient cash flow in society. We offer comprehensive solutions at all levels of society including financial institutions, retailers, other commerce related business and the public sector. Our 23,000 employees operate at about 400 branch offices spread across more than 20 countries.

Gold supply

We are proud to announce that ‪#‎XAURUM‬ representatives finalised an agreement with ‪#‎NADIR‬ Metal Rafineri for exclusive supply of 1g gold bars of 999,9 purity.

NADIR is the most respected and biggest privately owned precious metal refinery in Turkey with more than 1 billion USD of turnover.. We have worked closely together with Nadir team for last 6 months. The agreement guaranties XAURUM quality, price and volume of gold bars.

ABOUT NADIR (nadirmetal.com.tr/en/home):
The company is accredited by Istanbul Gold Exchange (Borsa Istanbul) in January 2008, by Dubai Stock Exchange (DMCC) in October 2009 and by London Good Delivery Association (‪#‎LBMA‬) in December 2011, as the first company in Turkey, in 2011 for gold and in 2012 for silver.
Today, along with refining, waste recycling, dross and laboratory services, Nadir Metal produces and trades precious metals (gold, silver, platinum, palladium, and rhodium). In addition to these, “Nadir Metal” and “Nadir Gold” branded small bars of gold, silver and platinum products and exclusive collections are produced.

So far, we have collected:

- 413,288.98 USD in fiat currencies,
- 101.84618240 BTC
- 561.31485884 ETH
- 7788.57652511 LISK

and exchanged 5563.79631018 XAU for 44510370.4814 XAUR.

Very good, try to be transparent as possible, personally I would post the contracts that are edited.

Aurum Project

hero member

Activity: 550

Merit: 500

Gold storage

We are proud to announce that ‪Xaurum representatives finalised an agreement with ‪‎Loomis‬ - Stockholm (Sweden) based corporation - for exclusive gold storage.
The agreement guaranties safe storage of Xaurum gold including “‪#umbrella‬” insurance policy (this covers everything including war, natural disaster, …).
In addition to safety, we have also agreed to enable ‪transparency‬ for our community - Loomis will enable web access to Xaurum storage balance-sheet (it will take some time)! When enabled, we will give access to this account to everybody!

The decision for Loomis was an obvious an logical one. They are a corporation, present all over the world. They are best in the world at exactly what we need - Safe storage and full insurance coverage.

ABOUT LOOMIS (www.loomis.com/en/About-Loomis):
Loomis is the specialist in creating an efficient cash flow in society. We offer comprehensive solutions at all levels of society including financial institutions, retailers, other commerce related business and the public sector. Our 23,000 employees operate at about 400 branch offices spread across more than 20 countries.

Gold supply

We are proud to announce that ‪#‎XAURUM‬ representatives finalised an agreement with ‪#‎NADIR‬ Metal Rafineri for exclusive supply of 1g gold bars of 999,9 purity.

NADIR is the most respected and biggest privately owned precious metal refinery in Turkey with more than 1 billion USD of turnover.. We have worked closely together with Nadir team for last 6 months. The agreement guaranties XAURUM quality, price and volume of gold bars.

ABOUT NADIR (nadirmetal.com.tr/en/home):
The company is accredited by Istanbul Gold Exchange (Borsa Istanbul) in January 2008, by Dubai Stock Exchange (DMCC) in October 2009 and by London Good Delivery Association (‪#‎LBMA‬) in December 2011, as the first company in Turkey, in 2011 for gold and in 2012 for silver.
Today, along with refining, waste recycling, dross and laboratory services, Nadir Metal produces and trades precious metals (gold, silver, platinum, palladium, and rhodium). In addition to these, “Nadir Metal” and “Nadir Gold” branded small bars of gold, silver and platinum products and exclusive collections are produced.

So far, we have collected:

- 413,288.98 USD in fiat currencies,
- 101.84618240 BTC
- 561.31485884 ETH
- 7788.57652511 LISK

and exchanged 5563.79631018 XAU for 44510370.4814 XAUR.

Aurum Project

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Activity: 550

Merit: 500

Quote from: keskerdark on July 20, 2016, 01:02:31 PM

Hi! Some questions on my earlier ETH deposit (about 5-6 hours before the FORK)

Which exchange rate will I on my transfer? Do you take the ETH/USD rate at the time of mintning? (tomorrow noon).

In my account is says "PROCESS Pending (0/10)" on my ETH asset... and you dont accept any new ETH deposit, do I need to worry? The ETH sum under assets in my account is correct and I want to participate in the minting tomorrow.

No need to worry, your pending deposits will be processed. All the crypto will be sold in bulk, gradually and distributed accordingly per currency.

vlight

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Quote from: Kazadar on July 20, 2016, 05:27:19 AM

Quote from: megashira1 on July 19, 2016, 11:11:26 PM

I don't understand how Xaurums' inflation can be profitable.

As I understand it most of the new coins goes to an organization which sells the coins to buy more gold. So as long as the coins are being traded above gold price the additional gold will be split among all holders.
So if 1 XAU is worth 1g of gold and they sell it for 1.1g of gold then the remaining 0.1g of gold will be added to the gold store. Now every coin would be worth 1.00000001g of gold instead of 1g.
This is ofcourse only an example.

Very interesting concept. So, if the Xaurum gets pumped into bubble, this mean that devs will buy much more physical gold and than the new price floor will be set?

keskerdark

newbie

Activity: 53

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Quote from: Aurum Project on July 19, 2016, 03:57:38 PM

Quote from: coinmenace on July 19, 2016, 02:02:15 PM

i see ETH & LSK are also accepted as crypto-currencies in the RICO - what is the exchange rate like to XAUR? is it first changed to the BTC/USD rate then then to XAUR?

We're selling all cryptocurrencies continuously, and will publish much each was worth in USD after each mint.

We're happy to announce that the contract with Loomis is signed, and the open digital account is now confirmed. As soon as Nadir relocates our gold reserves to Loomis, everyone will be able to check the quantity of gold, we hope this to be during the event.

So far, we have collected:

- 291,788.61 USD in fiat currencies,
- 43.21553707 BTC
- 325.89454884 ETH
- 6054.96652511 LISK

and exchanged 5192.91343374 XAU for 41543307.4699 XAUR.

Hi! Some questions on my earlier ETH deposit (about 5-6 hours before the FORK)

Which exchange rate will I on my transfer? Do you take the ETH/USD rate at the time of mintning? (tomorrow noon).

In my account is says "PROCESS Pending (0/10)" on my ETH asset... and you dont accept any new ETH deposit, do I need to worry? The ETH sum under assets in my account is correct and I want to participate in the minting tomorrow.

BTCdoaA

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how many btc invested till now

kaicrypzen

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Quote from: m4nki on July 20, 2016, 10:52:33 AM

Quote from: kaicrypzen on July 20, 2016, 05:16:33 AM

Once the RICO is over, minting will only be available to masternodes (you must have 8 000 000 XAURs to qualify for that), mining, buying and selling of XAUR will be available.

8 000 000 XAURs for running a Masternode? Isnt that a bit much?

The total supply is just about ~50 million currently.

I don't know if they're gonna change that ...
According to http://www.xaurum.org/mint.html, a masternode should have 1000 XAUs (8 000 000 XAURs after the RICO) and yes that's 7 masternodes for the available supply (7487 XAUs).

m4nki

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Activity: 1039

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Quote from: kaicrypzen on July 20, 2016, 05:16:33 AM

Once the RICO is over, minting will only be available to masternodes (you must have 8 000 000 XAURs to qualify for that), mining, buying and selling of XAUR will be available.

8 000 000 XAURs for running a Masternode? Isnt that a bit much?

The total supply is just about ~50 million currently.

nezto77

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whether xaurum can mine with POW systems during RICO?

Bitcoinmeister

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"Highest ROI crypto infrastructure"

Xau is doing good 4.36 BTC Volume on C-CEX and the price is going higher 0,68btc!!!

nihilnegativum

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––Δ͘҉̀░░

Quote from: megashira1 on July 19, 2016, 11:11:26 PM

I don't understand how Xaurums' inflation can be profitable.

The key is the difference between market price and base value, half of this difference is paid to miner/minter half to the commonwealth gold reserves.

Topic: [ANN] Xaurum [XAUR] - page 212. (Read 326990 times)