Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️ - page 128. (Read 169030 times)
How will amount of physical gold will be controlled?
Greetings!
The characteristics of the GOLD cryptoasset include the following:
100% transparency of information about all Gold owned by GoldMint, disclosing the company’s gold reserves and its ability to buy back GOLD at its current trading price.
GoldMint uses the decentralized blockchain for smart contracts and for harboring its cryptoassets
GoldMint uses ETF for liquidity and elasticity. ETF helps you trade gold far faster than physical gold does
A secured loan may contain gold, like jewelry or coins. GoldMint helps you store this collateral in its unique Custody Bot.
The ability to receive passive income as market price of GOLD rises.
Robotic storage unit Custody Bot
Buyback of GOLD for fiat according to the current price of GOLD.
A fast user registration system and identification.
Gold- because it is a clear metal for general public. Plus, we have a company that buys 450 kg of gold per month from pawnshops all over Russia. These are unclaimed deposits. Therefore, we have our own source of gold - we don't depend on banks.
Today, more than 1% of all gold is kept in pawnshops. In 53% of the cases, gold is bought as a mean of investment. Many people buy coins or small bars of gold. For them Custody Bot is an excellent solution. Coins are the easiest to examine. Initially, we set a task for our engineers to examine the quality of jewellery. They have succeeded and this is way more difficult than examining coins.
If the audit results show that, the value of physical gold is less than the number of the GOLD tokens emitted, the excess amount of GOLD will be written off automatically from the company wallet via the smart contract.
With regards,
team GOLDMINT
What is a key features of GOLD cryptoasset?
The characteristics of the GOLD cryptoasset include the following:
100% transparency of information about all Gold owned by GoldMint, disclosing the company’s gold reserves and its ability to buy back GOLD at its current trading price.
GoldMint uses the decentralized blockchain for smart contracts and for harboring its cryptoassets
GoldMint uses ETF for liquidity and elasticity. ETF helps you trade gold far faster than physical gold does
A secured loan may contain gold, like jewelry or coins. GoldMint helps you store this collateral in its unique Custody Bot.
The ability to receive passive income as market price of GOLD rises.
Robotic storage unit Custody Bot
Buyback of GOLD for fiat according to the current price of GOLD.
A fast user registration system and identification.
Why tokens are Gold-backed? Why not using any other precious metals or other asset?
Gold- because it is a clear metal for general public. Plus, we have a company that buys 450 kg of gold per month from pawnshops all over Russia. These are unclaimed deposits. Therefore, we have our own source of gold - we don't depend on banks.
Today, more than 1% of all gold is kept in pawnshops. In 53% of the cases, gold is bought as a mean of investment. Many people buy coins or small bars of gold. For them Custody Bot is an excellent solution. Coins are the easiest to examine. Initially, we set a task for our engineers to examine the quality of jewellery. They have succeeded and this is way more difficult than examining coins.
What will happen if audit shows that GoldMint have less physical gold, than GOLD tokens emitted?
If the audit results show that, the value of physical gold is less than the number of the GOLD tokens emitted, the excess amount of GOLD will be written off automatically from the company wallet via the smart contract.
With regards,
team GOLDMINT
Very interesting project, could become one of the biggest ICOs of 2017 in my humble opinion. All the best, looking forward to participating in the crowdfunding
What happens when physical gold is withdrawn from custody bot?
According to the whitepaper when the physical gold is withdrawn from custody bot, the same number of gold assets will be destroyed.
What will happen if audit shows that GoldMint have less physical gold, than GOLD tokens emitted?
Why tokens are Gold-backed? Why not using any other precious metals or other asset?
What is a key features of GOLD cryptoasset?
May i ask what major difference this project has over similar project - Sudan Gold Coin? I mean both project claim to be backed by physical in blockchain, and do GoldMint see this project as a strong competitor?
Common Sense Ideas == Good Ideas; We will definitely get on the horn with them
What happens when physical gold is withdrawn from custody bot?
Some people may wonder if they can exchange the gold token with the real gold bars. How are you going to explain this?
Which other elements does the goldmint infrastructure include?
Greetings!
GoldMint buys, sells and repurchases GOLD at the current market price for physical gold. The company uses exchange-traded funds (ETF) or physical gold (of 999 quality) as its security. GoldMint's gold reserves equal or exceed its mined amounts of GOLD.
The amount of GOLD that is emitted depends on the amount of physical gold and ETF backing that GoldMint has in its reserves. The amount of GOLD in circulation can never exceed GoldMAn's reserves of physical gold.
GoldMint loan applicants transfer their GOLD as collateral to a certain GoldMint application. The rate of the loan is established at the time of giving and remains fixed through the loan period. Applicants needs to consent to GoldMint loan terms to receive the loan.Applicant is given various options for repaying loan amount and for mode of repayment. If the borrower defaults, his GOLD cryptoassets are transferred to GoldMint.
With regards,
team GOLDMINT
What is the key idea of the project?
GoldMint buys, sells and repurchases GOLD at the current market price for physical gold. The company uses exchange-traded funds (ETF) or physical gold (of 999 quality) as its security. GoldMint's gold reserves equal or exceed its mined amounts of GOLD.
How is gold emitted?
The amount of GOLD that is emitted depends on the amount of physical gold and ETF backing that GoldMint has in its reserves. The amount of GOLD in circulation can never exceed GoldMAn's reserves of physical gold.
How do i get the money loaned?
GoldMint loan applicants transfer their GOLD as collateral to a certain GoldMint application. The rate of the loan is established at the time of giving and remains fixed through the loan period. Applicants needs to consent to GoldMint loan terms to receive the loan.Applicant is given various options for repaying loan amount and for mode of repayment. If the borrower defaults, his GOLD cryptoassets are transferred to GoldMint.
With regards,
team GOLDMINT
How do i get the money loaned?
How is gold emitted?
What is the key idea of the project?
very interested ,but want to know more details.
I see goldmint going
Over 1 billion
Over 1 billion
Greetings!
The amount of GOLD emitted depends on (a) the validation of deal/ details stored in the blockchain and (b) on the authenticity and value of gold inspected by Custody Bot.
A GOLD token can be issued if only GOLDMINT has a troy ounce of physical gold or ETF available to back it. To back tokens with gold means to provide 100% guaranteed anytime GOLD tokens buyback by GOLDMINT their self. That will provide stable price for these tokens which is in lack on market today.
Differences between Goldmint and other gold cryptocurrency blockchains include the following:
Goldmint uses its own blockchain and altcoin, called MNT, for GOLD transactions.
Goldmint uses Proof-of-Stake where miners are doled blocks/ transactions according to the amount of MNT they have. Proof of stake (PoS) is faster, simpler and cheaper than proof of work (PoW).
Physical gold and ETFs are stored in a programmed decentralized storage unit.
Custody Bot - Goldmint’s innovative storage unit is programmed to automatically identify and store gold jewelry, small ingots (up to 100 grams) and coins without human intervention.
With regards,
team GOLDMINT
Which is the maximum amount of Gold emitted?
The amount of GOLD emitted depends on (a) the validation of deal/ details stored in the blockchain and (b) on the authenticity and value of gold inspected by Custody Bot.
How can it be both backed by real gold and run on blockchain?
A GOLD token can be issued if only GOLDMINT has a troy ounce of physical gold or ETF available to back it. To back tokens with gold means to provide 100% guaranteed anytime GOLD tokens buyback by GOLDMINT their self. That will provide stable price for these tokens which is in lack on market today.
What difference between Goldmint and other gold-based cryptocurrency?
Differences between Goldmint and other gold cryptocurrency blockchains include the following:
Goldmint uses its own blockchain and altcoin, called MNT, for GOLD transactions.
Goldmint uses Proof-of-Stake where miners are doled blocks/ transactions according to the amount of MNT they have. Proof of stake (PoS) is faster, simpler and cheaper than proof of work (PoW).
Physical gold and ETFs are stored in a programmed decentralized storage unit.
Custody Bot - Goldmint’s innovative storage unit is programmed to automatically identify and store gold jewelry, small ingots (up to 100 grams) and coins without human intervention.
With regards,
team GOLDMINT
Don't forget to get listed on all exchanges
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