Topic: [🚀][ANN][Aurum Project] 💠 Xᴀᴜʀᴜᴍ 💠 ▲1 XAUR = 0.000426686186 g gold▲ - page 51. (Read 111343 times)

We understand that there were a thousand gold scams in crypto and that trust in gold backed anything is close to zero. This is why we're probably going to sell more coins in regular economy until we deliver proof of gold.

Regarding that topic, all links are down, does anyone have any dox on this? From what it looks, it could have been ok, it it weren't a scam.

I saw no claim of exchanging crypto for gold, there has to be a way to guarantee it at all times (economically, legally, practically), or all claims of a backed coin are unfounded. We're in the proces of establishing this guarantee as the option of exchanging every Xaurum in circulation for its worth in gold. We have described how this will benefit us and you economically, we have created a legal entity to do so legally, and are developing the page to do so practically. If you have any other ideas how to establish this, please share them. We aren't ready to give up the use of crypto because of scams and believe that what is needed to evolve crypto past its current era of scams is precisely to show the benefits of cooperation.

This scam has already been run once, maybe even by the same guy:
https://bitcointalksearch.org/topic/livemidascoinbackednew-scrypt-pomatm-cardreferralno-ipounique-784286

Coins are backed at all times, we don't touch the reserves if we don't have to, if we do, the coin must be backed again. If we can't get supplies fast enough, this means a problem in liquidity, if that happens we use the reserves and the coins go out of circulation. We'll have some extra gold stacked to facillitate faster shipping, but if the melting exceeds our supplies and there are delays in supplying more (probably not an issue), we'll supply the gold from the reserves. This means once we coin Xaurum, and set up the reserves (2-4 weeks), you should be able to recieve it anywhere in 3-7 days (faster in EU), the only problem are a few countries that have their own specific gold regulations.

soo let me get this straight..

say i have 10 XAU and i ask to melt it..
1. I send you my 10 XAU
2. you send me a 10g cold card.
3. you are then going to sell the "backed" coins that i just gave to you back into the coin pool to buy more gold.

soo that would mean that everytime someone melts the entirety of the coin can not be backed by gold because their is a period of time where gold is missing before it is replaced.. OR do you plan on after i give you my coins, buying gold and then sending it to me and not touching reserve that backs coin? if this is the case, i can expect to wait in excess of a months time for my gold, all the while im wondering if, i have been ripped off.. realistically you need 2x the amount needed to back the coin on hand to make this work, but in the end all you are doing is exchanging coin for gold. and yes this is creating a "currency" that allows such thing to happen. soo IF you have enough ON HAND to both back the coin AND instantly process and send melt requests, this can be lucrative and a good method for people to obtain gold other than using traditional fiat currency.. IE i exchange BTC for XAU and then i melt for gold. BUT will you be able to keep up with it?

The point is that all of the coins in circulation are backed at all time, so all holders can cash out in gold at all times.
If we don't have problems with liquidity (and we won't if the % of people who want gold instead of our coin is low) we won't sent the gold from gold reserves, but sell the already backed coin and buy additional gold (the difference goes for shipping, and the extra to the common wallet). Basically the choice is between destroying an already backed coin or using it. If we destroy it, it will go back to mining, if not it will rejoin circulation. In both cases everyone can get their gold and the value of all coins in circulation is preserved. In case the price will be lower than the value of gold, we'll use the gold from reserves, the marketcap will be lower, but the value backing each coin will remain the same. We would be glad to see if all would melt their coins in the early stages, as it would reduce required trust.

The costs of this operation are very flexible, and the 5% on gold purchases is more than enough to make it profitable for Auresco.

i mean this coin although it be not decentralized.. but if you can actually send them the coins and actually receive gold.. then that concept seems pretty kewl! seems like it could easily collapse on itself though. is the idea to perpetually continue to buy gold as the coins come in and then feed coins back out? the problem i see is this.. once all the coins are mined and people want their gold... the value of it can not go up based upon other commodities because lets face it.. if i can get gold, something that is nationally recognized as rare and valuable im going to.. all of the coins that have been exchanged for gold are suddenly not backed by gold anymore and would have to leave circulation.. or reserves would need re bought and then coins put back into circulation.. it is hard to believe even for me that this is what is going to happen, and im a mostly trusting person. what i foresee is one of three things.. either the above mentioned will happen, or the gold will never exist... OR the currency is around for a little while until the person mailing gold out for it realizes that he can not make anything off of this and is basically giving gold away and adding money to the governments pockets in the form of power bills and taxes.. hmm any thoughts?

We have nothing to do with xaucoin that has chosen the same ticker and a similar name to confuse you. We're the shiny precious one.

change your name you tools its already taken do some research before makeing a scam

I didn't got .What wallet you using??? Thanx

https://www.youtube.com/watch?v=cIasr2AiyZ0&t=20

Collected fees are already backed and will be sold on the market, with this more gold will be added to the reserves. New coins on market produced by users staking will be backed yearly by Auresco (Its a very small ammount, maximum of 10% out of the 0.001% yearly inflation, if all users stake). If we manage to create guaridan nodes as a different kind, they will be exempt from fees, meanwhile their movement cost will be covered by Auresco.

All use of coins and all inflation is transformed into value. An increase in supply means an increase of gold-reserves.

ICO information

https://www.youtube.com/watch?v=cIasr2AiyZ0

So 90% of all coins,  90% of all the transaction fees and 90% of the stake will be collected by centralized blockchain nodes?    

and

If these nodes collect fees and stakes which increase the coin supply with a fixed gold supply the value of all coins decrease.  Or are you saying the collected coins will be sold on the market to generate fiat to increase gold reserves?

Here.

Im neither a liar nor a fool

anyone can just link an address on a map  without presenting official documentation Auresco Institute does not exist

You cant make an apology and take it back in the same sentence


xaucoin is a Rare Digital Commodity

xaucoin is a Gold-like Asset

xaucoin is a Store of Value crypto currency

xaucoin has 2.1 Million Total Coin Base (Approx)  |  10 x More Rare than Bitcoin  |  PoW SHA-256  |  Bitcoin Based Economic Model

No, we propose that we do parts that require centralization transparently (PoW centralizes profits and centralizes mining, PoS&PoW centralize the blockchain with checkpoints) and in a way that benefits all included (decentralization of profits). We propose a centralized storage of gold and a semi-centralized proof-of-stake to preserve value, this is our main function and concern, Xaurum is not intended as a fully decentralized currency. Our customers are always in charge of their private keys, as in any other crypto, and aren't in charge of the whole network, as in any other crypto.


I'm sorry you made the same ticker as we did, but I'm not, because you did it on purpose. After you've seen our ANN you created your own, to confuse people into buying, after all you are promoting a coin with the same functions. Lucky for us, your words are empty. This makes you either a liar or a fool.

You claim your coin is a | 1) Rare Commodity | 2) Gold Asset | 3) Store of Value. It is none of these things.

1) Rare commodities are naturally scarce, cryptocurrencies are synthetically scarce, this makes them scarce as a token inside a network and infinitely copyable as the whole netowork.
2) No.
3) As in any other crypto, volatility prevents the currency to function as a store of value. We are creating Xaurum to solve this problem.

Investing or speculating in crypto currency is one thing

buying physical goods or services with crypto currency is another


If you own BTC and would prefer to own actual gold then my advice would be to actually buy yourself physical gold and to own it yourself

 
good luck with your Xaurum project
 

yes

although going from the screen shot of the wallet  which is all that exists of  Xaurum wallet currently

they have address starting with a capital  X

xaucoin addresses start with a 1

maybe they can use XAUG or something

XAU is already used by Xaucoin: https://bitcointalksearch.org/topic/ann-xaucoin-xau-gold-like-asset-store-of-value-pow-sha-256-974426

Be careful, maybe a lot of confusion and incorrect payments.

Eugo.gov.si is a new portal, on: http://www.eugo.gov.si/en/about-the-portal/ it states: "The website will be developed and enhanced in the future (through to 2015), "

Our physical registered adress is: Spodnje Gameljne 29D, Ljubljana, Slovenia  

http://www.itis.si/zemljevid/X=461907&Y=108915&n=AURESCO,%20ZAVOD%20ZA%20NALO%C5%BDBENO%20DEJAVNOST%20Z%20UPORABO%20INTERNETNE%20IN%20KRIPTO%20TEHNOLOGIJE,%20SPODNJE%20GAMELJNE&a=Spodnje%20Gameljne%2029%20D,%20Spodnje%20Gameljne&p=&t=&r=0,834133752544473&pid=7158379