Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️ - page 127. (Read 169030 times)

will there be any auditing of goldmint assets?

could you give us an example number of the cost storing gold? (e.g. in the usa or switzerland)

where does goldmint store its physical gold and which etfs back gold cryptoassets?

omfg you have walther white in your team

Greetings!


GOLD is GoldMint's cryptoasset. It’s value is aligned to the current LBMA price of gold. One GOLD equals one ounce (31,1035 grams) of gold (999 quality) on the stock exchanges + 5% commission (max.)


All of GoldMint's GOLD is backed by the reserves of physical gold or ETF that GoldMint has in its reserves. If there's not enough gold in GoldMint reserves, the company buys extra gold or ETFs in Switzerland.


An ETF, or exchange-traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange. ETFs offer low-cost diversification, trading and arbitrage options. New ETFs range from several dozen to hundreds in any particular year. They can be used to back GOLD, since there is a high demand for ETFs in the gold market. Top ETFs for gold can be found on ETFDB.

With regards,
team GOLDMINT

Finally, thank you. Now I'll check announcement threads more

what is an etf and how can it back gold?

how is the gold asset backed by gold?

what is gold?

Greetings!


Emission :1 GOLD = cost of 1 ounce of gold on stock exchanges + 5% commission for fiat-GOLD-fiat – no more than 4%
Buyback: 1 GOLD = cost of 1 ounce of gold on stock exchanges +  max. 5% commission for fiat-GOLD-fiat– no more than 4%


ETF (Exchange Traded Funds) - An ETF, or exchange-traded fund, is a marketable security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike mutual funds, an ETF trades like a common stock on a stock exchange.

The three most popular ETFs are “Spiders” (ticker (NYSEARCA:SPY)), “Diamonds” (ticker (NYSEARCA:DIA)) and “Qs” or ""Qubes"" (ticker (NASDAQ:QQQ)).

Top ETFs for gold can be found on ETFDB . The commission for the management of a portfolio of gold is 0.2-0.8% per annum, depending on the volatility of gold and the inflow / outflow of investors. After analyzing the correlation between the value of gold and the stock price of the three largest ETFs - the GLD (announced expense ratio 0.4% ), the IAU ( 0.25% ) and SGOL ( 0.39% ) - we estimate that the real backlog of ETF shares in physical gold is about 0.7% (prices are taken from COMEX on the LME ). Commissions and broker commissions are taken into account in calculating our commissions for GOLD.


GOLD  is  a  crypto  asset  issued  by  GoldMint  that  uses  the  current  price  of  gold  set  on  the LBMA exchange   at the time of sale.  

                        ●   Equal to one ounce (31,1035 grams) of gold (999 quality)  
                        ●   Shards into 100,000 parts.  
                        ●   Commissions are given in GOLD.

Information  is  transmitted  to  the  blockchain  ledger  about the number  of  ounces  of physical  

gold or ETFs owned by GoldMint. ETF is bought on  he  stock exchange NYSE, Arca​ and subsequent  information  is publicized on GoldMint’s decentralized blockchain, making  it   transparent  and open to all members. Statements are received from the depositary (electronic or printed).  

All physical gold owned by GoldMint exists in the following forms:  

               a.   Manufacturer-certified bullions  
               b.    Gold coins  
               c.   Gold jewelry  
               d.   999 quality granules, stamped by manufacturer

With regards,
team GOLDMINT

It's like their endgame product is a redbox filled with gold. So many custody bots are going to get stolen lol. That is what you get for crypto blasphemy. Also I have to say, the amount of bullcrap questions and shills in this thread is just... impressive. Dunno if it will translate into a successful ico though since the idea is fundamentally idiotic.

You gotta be kidding, right? What's next?

This looks like a really interesting project in how the tokens are backed by physical gold. One to keep an eye on for sure.

How GOLD is connected with real gold?

What is ETF?

What about GOLD exchange rate?

Greetings!


All ratings are confirmed by bank statements which are encoded in blockchain by uploading relevant forms in IPFS to  the blockchain, thereby recording ownership of the gold to GoldMint. These documents let the system check that GoldMint company owns X amount of gold. This X is checked by an auditor from GoldMint. This number is verified each month by an objective ​TOP5 audit company. Inspection confirms that the total number of GOLD cryptoassets in all wallets (Y) is less than the total number of X ounces of gold on the balance sheet.


You may be able to receive a cryptocurrency or fiat loan from GoldMint PTE LTD, using GOLD as collateral. All applicants will need to undergo the KYC* procedure.


Physical gold is locked-up in storage and rated according to its value: 

                 Moody’s ​-  A2 and above.
                 Standard and Poor's​ - A and above. 
                 Fitch​ - A and above.

With regards,
team GOLDMINT

I will be following the project.

How physical gold will be stored?

Does any person can trade GOLD for fiat?