Topic: ⚡️⚡️⚡️[ANN]GoldMint - ICO is over. $7.3M collected.⚡️⚡️⚡️ - page 141. (Read 169030 times)
What is trust management?
How do i get the money loaned?
Greetings!
Custody Bot is GoldMint's unique device. It is programmed for temporary holding, inspection, long-term storing and conveying of gold jewelry, coins or gold.
Most times, when a person buys GOLD for fiat, the price for GOLD will be LBMA + 5%. When they want to sell their GOLD, the price will be LBMA +3%. The commission for managing gold is 0.2-0.8% per annum, depending on gold volatility and investor traffic. 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 ).
MNT is GoldMint's internal token, used to confirm GOLD cryptoasset transactions.
With regards,
team GOLDMINT
What is custody bot?
Custody Bot is GoldMint's unique device. It is programmed for temporary holding, inspection, long-term storing and conveying of gold jewelry, coins or gold.
What are the commissions for transactions in gold?
Most times, when a person buys GOLD for fiat, the price for GOLD will be LBMA + 5%. When they want to sell their GOLD, the price will be LBMA +3%. The commission for managing gold is 0.2-0.8% per annum, depending on gold volatility and investor traffic. 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 ).
What are MNT tokens?
MNT is GoldMint's internal token, used to confirm GOLD cryptoasset transactions.
With regards,
team GOLDMINT
What are MNT tokens?
What are the commissions for transactions in gold?
What is custody bot?
Finally, thank you. Now I'll check announcement threads more
Greetings!
GoldMint's gold is locked up in its storage reserves. The amount of gold and the ratings of this gold are confirmed by bank statements which are uploaded in the GoldMint blockchain to guarantee transparency.
The gold we use to back GOLD digital assets is all insured.
The limit of the loan depends on the GOLD or the value of the gold that is used as a collateral.
With regards,
team GOLDMINT
Where does goldmint store its physical Gold and which etfs back gold cryptoassets?
GoldMint's gold is locked up in its storage reserves. The amount of gold and the ratings of this gold are confirmed by bank statements which are uploaded in the GoldMint blockchain to guarantee transparency.
If the Gold is damaged or stolen, who will take responsibility for?
The gold we use to back GOLD digital assets is all insured.
What is the limit of the loan?
The limit of the loan depends on the GOLD or the value of the gold that is used as a collateral.
With regards,
team GOLDMINT
sorry, to complicated and fishy for me
What is the limit of the loan?
If the Gold is damaged or stolen, who will take responsibility for?
Where does goldmint store its physical Gold and which etfs back gold cryptoassets?
Greetings!
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.
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.
With regards,
team GOLDMINT
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.
How will amount of physical gold will be controlled?
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.
With regards,
team GOLDMINT
I read a white paper.
Very interesting!
I support you.
Very interesting!
I support you.
very interested ,but want to know more details.
How will amount of physical gold will be controlled?
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?
Greetings!
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.
GoldMint plans to develop an Application Programming Interface (API) to regulate GOLD.
This will achieve the following:
● E-commerce can use GOLD for transactions.
● Local banks and Monetary Financial Institutions (MFIs) can use GOLD as collateral.
● GOLD can be used escrow for bank accounts and as financial guarantees.
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.
With regards,
team GOLDMINT
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.
There was something written about API? What is about?
GoldMint plans to develop an Application Programming Interface (API) to regulate GOLD.
This will achieve the following:
● E-commerce can use GOLD for transactions.
● Local banks and Monetary Financial Institutions (MFIs) can use GOLD as collateral.
● GOLD can be used escrow for bank accounts and as financial guarantees.
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.
With regards,
team GOLDMINT
Fuck all IPOs=Scam！
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