HGT entering the competition to be listed on OKEx:
https://twitter.com/FoundationHG/status/999536769346387968
Topic: [ANN][ICO] HelloGold: Gold Backed Tokens from Live + Revenue Generating Business - page 3. (Read 19311 times)
May 24, 2018, 01:26:39 AM
May 21, 2018, 01:21:18 PM
I digged a bit deeper and the project is a big mess.
I checked their whitepaper and businessplan and was shocked what i saw there.
Based on their whitepaper and website each HGT token is limited to a lifetime benefit of 0.0038g of gold !!!!!! which is based on current gold price arround $0.16 .
So the max benefit you will get per hgt token is $0.16 .
So somebody may explain to me why should people by this token for anything near or higher than $0.16 .
Check the ICO price and now have a look at the max benefit their hgt token can get on current gold price
Next important information.
They said people will just receive 10% of revenue from just the management fee which is 2% of stored gold value per year.
Transaction fee's and all other fee's including 90% of management fee goes directly to the company.
If you check their businessplan their final goal for 2024 is to have 40 billion USD worth of gold stored in their vault.
Thats an extremly high number but lets even assume they will succeed what does it mean for hgt holders.
2% management fee from $40.000.000.000 gold value stored in vault is $800.000.000 management fee per year.HGT holders get from these $800.000.000 10% which is $80.000.000 revenue share.
This money will be shared to one billion token which is $0.08 per hgt token.
So if they succeed and grow really that big you as hgt holder will get in 2024 (in 6 years) $0.08 benefit per hgt token.
There are some other concerned numbers but i got contacted by a journalist and i guess he will publish it shortly.
However anyone being familar with the gold business knows 2% fee per transaction and 2% management fee,redeem fee etc is extremly high in the gold business and even the fee's are so high
they are so GREEDY (cause else you can't call it) that they will share only 10% of revenue from the management fee.
Themself they keep whole ownership of the company and of nearly all profit/revenue for themself .
They claim its because of the high cost but anyone can check himself how much it cost to store gold even as private person and that these companies are way smaller and still making good profit.
So anybody investing his money for a 10% revenue share of the management fee must be aware the benefits should this project even succeed will be very small
You are basicly financing this company with no real compensation at all.There is only one beneficiant which is the owner getting cheap money and taking no risk.
What makes me really mad is the clear attempt of the team to get cheap money and kick off investors with some poor bones.
If you check max benefit a HGT token is allowed to get and ICO price the difrrence is just arround 3 times from ICO price.
Is that really a fair deal ?
here from their website
You see these 0.0038g maximum limit they put for each HGT ?Limiting the max benefit to currently $0.16 .
Do anybody really belive they made it by mistake seeing all the other low profit sharing attempts ?
Sorry but i belive its done on purpose.
The CEO knows exectly how to count so he knows also exectly about the limit he put for you guys
They didn't even talked about it till i exposed this fact where they later banned me claiming i was creating fud but noone just showed me i'm wrong by proofing his numbers cause my numbers are legit and say everything about that project so they started the personal way to attack someone and discredit
I checked their whitepaper and businessplan and was shocked what i saw there.
Based on their whitepaper and website each HGT token is limited to a lifetime benefit of 0.0038g of gold !!!!!! which is based on current gold price arround $0.16 .
So the max benefit you will get per hgt token is $0.16 .
So somebody may explain to me why should people by this token for anything near or higher than $0.16 .
Check the ICO price and now have a look at the max benefit their hgt token can get on current gold price
Next important information.
They said people will just receive 10% of revenue from just the management fee which is 2% of stored gold value per year.
Transaction fee's and all other fee's including 90% of management fee goes directly to the company.
If you check their businessplan their final goal for 2024 is to have 40 billion USD worth of gold stored in their vault.
Thats an extremly high number but lets even assume they will succeed what does it mean for hgt holders.
2% management fee from $40.000.000.000 gold value stored in vault is $800.000.000 management fee per year.HGT holders get from these $800.000.000 10% which is $80.000.000 revenue share.
This money will be shared to one billion token which is $0.08 per hgt token.
So if they succeed and grow really that big you as hgt holder will get in 2024 (in 6 years) $0.08 benefit per hgt token.
There are some other concerned numbers but i got contacted by a journalist and i guess he will publish it shortly.
However anyone being familar with the gold business knows 2% fee per transaction and 2% management fee,redeem fee etc is extremly high in the gold business and even the fee's are so high
they are so GREEDY (cause else you can't call it) that they will share only 10% of revenue from the management fee.
Themself they keep whole ownership of the company and of nearly all profit/revenue for themself .
They claim its because of the high cost but anyone can check himself how much it cost to store gold even as private person and that these companies are way smaller and still making good profit.
So anybody investing his money for a 10% revenue share of the management fee must be aware the benefits should this project even succeed will be very small
You are basicly financing this company with no real compensation at all.There is only one beneficiant which is the owner getting cheap money and taking no risk.
What makes me really mad is the clear attempt of the team to get cheap money and kick off investors with some poor bones.
If you check max benefit a HGT token is allowed to get and ICO price the difrrence is just arround 3 times from ICO price.
Is that really a fair deal ?
here from their website
Quote
What is the return on HGT?
There is no guaranteed return on HGT. The disbursement of reward GOLDX to HGT holders is discretionary by HGF. However, as the lifetime total allocation of GOLDX is capped at 3,800,000 GOLDX (i.e. 3.8 metric tonnes of gold) to the 1,000,000,000 HGT created, each HGT will receive a maximum of 0.0038 GOLDX (i.e. 0.0038 g of gold).
There is no guaranteed return on HGT. The disbursement of reward GOLDX to HGT holders is discretionary by HGF. However, as the lifetime total allocation of GOLDX is capped at 3,800,000 GOLDX (i.e. 3.8 metric tonnes of gold) to the 1,000,000,000 HGT created, each HGT will receive a maximum of 0.0038 GOLDX (i.e. 0.0038 g of gold).
You see these 0.0038g maximum limit they put for each HGT ?Limiting the max benefit to currently $0.16 .
Do anybody really belive they made it by mistake seeing all the other low profit sharing attempts ?
Sorry but i belive its done on purpose.
The CEO knows exectly how to count so he knows also exectly about the limit he put for you guys
They didn't even talked about it till i exposed this fact where they later banned me claiming i was creating fud but noone just showed me i'm wrong by proofing his numbers cause my numbers are legit and say everything about that project so they started the personal way to attack someone and discredit
May 20, 2018, 08:29:32 PM
Hello,
HelloGold team is still active, you can check the latest monthly update here (https://medium.com/hellogold/hellogold-foundation-update-11-4th-may-2018-ddad7ce09943)and check out the official Telegram (https://t.me/HelloGoldOfficial) and Twitter (https://twitter.com/FoundationHG) to see what's happening lately...
HelloGold team is still active, you can check the latest monthly update here (https://medium.com/hellogold/hellogold-foundation-update-11-4th-may-2018-ddad7ce09943)and check out the official Telegram (https://t.me/HelloGoldOfficial) and Twitter (https://twitter.com/FoundationHG) to see what's happening lately...
May 18, 2018, 09:05:12 AM
I haven't seen any activity from the team recently. I wonder whether they're still working on it or not
We are not even at 30% price from ico. People only call this scam, and you don't get positive network effect, as people want to stay away from it.
We are not even at 30% price from ico. People only call this scam, and you don't get positive network effect, as people want to stay away from it.
May 17, 2018, 01:32:41 PM
I think the project will be successful. Do you plan to use KYC procedure at your ICO or it will be fully anonymised?
May 15, 2018, 11:51:54 AM
Quote
How could one gram of gold be split among millions of tokens? That would be microscopic, wouldn't it? Maybe I am misunderstanding how it all works....
LOL
What a joke this project is.
Maybe someone can tell me where i can find main investors funding my whole project and demanding only 10% of yearly profit and not owning a single percent of that company !!!!!
These kind of idiots can be only found in the crypto space
May 15, 2018, 02:46:59 AM
HelloGold x Blockchain Expo London 2018 | Highlights
On 18-19th April, we made our way to London for Blockchain Expo at Olympia. Here are the highlights of Robin's presentation on HelloGold and our mission to bring financial inclusion to the man in the street in emerging markets. https://www.youtube.com/watch?v=PbeuruGy-7w&feature=youtu.be
On 18-19th April, we made our way to London for Blockchain Expo at Olympia. Here are the highlights of Robin's presentation on HelloGold and our mission to bring financial inclusion to the man in the street in emerging markets. https://www.youtube.com/watch?v=PbeuruGy-7w&feature=youtu.be
May 15, 2018, 12:52:42 AM
While at Consensus, Robin made an announcement yesterday which will surely be received as a good news to all HGT holders and gold lovers: GOLDX buyers will be able to use HGT to pay for purchase fees at a 50% discount.
You can check the video of the announcement on our official twitter : https://twitter.com/FoundationHG/status/996214849435664385
You can check the video of the announcement on our official twitter : https://twitter.com/FoundationHG/status/996214849435664385
May 14, 2018, 07:11:56 PM
This is good project. I'm just noticing that this idea is bringing more and more teams and projects into the competition. I like this project HelloGold .
Indeed it is a good project... Tokenising assets is going to be a major trend of blockchain technology in the coming years, and of course gold being what it is, and the need for stability in the crypto space becoming more pressing as institutional capital flows in, we'll definitely see a lot of projects coming in this space.
I believe one of the features that makes HelloGold unique is it's commitment to serving not only the crypto investors, but also underserved and non tech-savvy masses around the globe. And I think that is extremely challenging and much less "sexy" than crypto stablecoin race, but it will prove in the future to be both what makes HelloGold stand out on from an ethical perspective, and give it the strongest business model, as it will not be exclusively dependent on the volatile crypto market.
Quentin, are you trying to pose as an official member of the hello gold team?
Quentin, that was a rhetorical question. I know your not associated with Hello Gold in any way shape or form. I just wanted to see how full of shit you were.
May 14, 2018, 03:05:16 AM
Quote
I'm just curious if someone already withdrew their physical gold from your platform? I know it's easy to say that your gold is fully insured but the legalities surrounding this is too complex. That's why, for the owners of your tokens, they will just convert it to their fiat money or other cryptocurrencies rather than requesting to ship the physical gold that they owned. Bit complex if they will do that. Will end paying so much just to acquire their gold.
Customers from our mobile app product have redeemed physical gold, with no issue.
We do what we say
Our T&Cs are clear, and I believe we are actually setting best practice standards when it comes to letting our customers check the status of gold under management with us, providing daily update of assets under management as well as serial numbers for the gold bars. Gold is fully insured and audited.As for the price of gold redemption, I guess it depends the quantity you want to redeem; If it's a matter of a few grams, it is likely indeed that redemption fees will eat a big chunk of it. If you redeem 100grs, 1kg or more than it is another story. Redemption fees through us are in no way more expensive than through another provider, but at the end of the day we do deal with high value physical assets, and moving them around does come with costs, hence the greatness of GOLDX, the fully allocated 99,99% investment grade gold token !!
Can you disclose how many kgs of gold have been redeemed so far? Because shipping of this valuable item is too risky and lots of documentation that's why I know for sure owners will prefer not to get their physical gold and get fiat money instead. Can you give us the stats of physical gold redemption and can we see that in the blockchain?
May 14, 2018, 12:49:01 AM
Quote
I'm just curious if someone already withdrew their physical gold from your platform? I know it's easy to say that your gold is fully insured but the legalities surrounding this is too complex. That's why, for the owners of your tokens, they will just convert it to their fiat money or other cryptocurrencies rather than requesting to ship the physical gold that they owned. Bit complex if they will do that. Will end paying so much just to acquire their gold.
Customers from our mobile app product have redeemed physical gold, with no issue.
We do what we say
Our T&Cs are clear, and I believe we are actually setting best practice standards when it comes to letting our customers check the status of gold under management with us, providing daily update of assets under management as well as serial numbers for the gold bars. Gold is fully insured and audited.As for the price of gold redemption, I guess it depends the quantity you want to redeem; If it's a matter of a few grams, it is likely indeed that redemption fees will eat a big chunk of it. If you redeem 100grs, 1kg or more than it is another story. Redemption fees through us are in no way more expensive than through another provider, but at the end of the day we do deal with high value physical assets, and moving them around does come with costs, hence the greatness of GOLDX, the fully allocated 99,99% investment grade gold token !!
May 13, 2018, 10:49:24 PM
I am 
You can join the official HelloGold Telegram group (https://t.me/HelloGoldOfficial)and get in touch with me there if you want to make sure I'm not a fraud
Also, Robin and a few other HG staff are in New York for Consensus, some nice announcement on the way, so stay tuned !!
You can join the official HelloGold Telegram group (https://t.me/HelloGoldOfficial)and get in touch with me there if you want to make sure I'm not a fraud
Also, Robin and a few other HG staff are in New York for Consensus, some nice announcement on the way, so stay tuned !!
I'm just curious if someone already withdrew their physical gold from your platform? I know it's easy to say that your gold is fully insured but the legalities surrounding this is too complex. That's why, for the owners of your tokens, they will just convert it to their fiat money or other cryptocurrencies rather than requesting to ship the physical gold that they owned. Bit complex if they will do that. Will end paying so much just to acquire their gold.
May 13, 2018, 10:38:45 PM
I am
You can join the official HelloGold Telegram group (https://t.me/HelloGoldOfficial)and get in touch with me there if you want to make sure I'm not a fraud
Also, Robin and a few other HG staff are in New York for Consensus, some nice announcement on the way, so stay tuned !!
You can join the official HelloGold Telegram group (https://t.me/HelloGoldOfficial)and get in touch with me there if you want to make sure I'm not a fraud
Also, Robin and a few other HG staff are in New York for Consensus, some nice announcement on the way, so stay tuned !!
May 13, 2018, 10:30:02 PM
This is good project. I'm just noticing that this idea is bringing more and more teams and projects into the competition. I like this project HelloGold .
Indeed it is a good project... Tokenising assets is going to be a major trend of blockchain technology in the coming years, and of course gold being what it is, and the need for stability in the crypto space becoming more pressing as institutional capital flows in, we'll definitely see a lot of projects coming in this space.
I believe one of the features that makes HelloGold unique is it's commitment to serving not only the crypto investors, but also underserved and non tech-savvy masses around the globe. And I think that is extremely challenging and much less "sexy" than crypto stablecoin race, but it will prove in the future to be both what makes HelloGold stand out on from an ethical perspective, and give it the strongest business model, as it will not be exclusively dependent on the volatile crypto market.
Quentin, are you trying to pose as an official member of the hello gold team?
May 09, 2018, 10:07:58 PM
This is good project. I'm just noticing that this idea is bringing more and more teams and projects into the competition. I like this project HelloGold .
Indeed it is a good project... Tokenising assets is going to be a major trend of blockchain technology in the coming years, and of course gold being what it is, and the need for stability in the crypto space becoming more pressing as institutional capital flows in, we'll definitely see a lot of projects coming in this space.
I believe one of the features that makes HelloGold unique is it's commitment to serving not only the crypto investors, but also underserved and non tech-savvy masses around the globe. And I think that is extremely challenging and much less "sexy" than crypto stablecoin race, but it will prove in the future to be both what makes HelloGold stand out on from an ethical perspective, and give it the strongest business model, as it will not be exclusively dependent on the volatile crypto market.
May 08, 2018, 02:57:24 PM
This is good project. I'm just noticing that this idea is bringing more and more teams and projects into the competition. I like this project HelloGold .
May 07, 2018, 11:09:20 PM
Hello everyone, HelloGold Foundation latest monthly update is online. You can find it there:
Medium: https://medium.com/hellogold/hellogold-foundation-update-11-4th-may-2018-ddad7ce09943
Steemit: https://steemit.com/blockchain/@hgfoundation/hellogold-foundation-update-11-4th-may-2018
Enjoy the read, and feel free to reach out if you have any questions!
Medium: https://medium.com/hellogold/hellogold-foundation-update-11-4th-may-2018-ddad7ce09943
Steemit: https://steemit.com/blockchain/@hgfoundation/hellogold-foundation-update-11-4th-may-2018
Enjoy the read, and feel free to reach out if you have any questions!
May 06, 2018, 03:28:44 AM
I saw a review online which says that the team is incredibly experienced in gold finance structures. https://cryptorated.com/ico-reviews/hellogold/
Yes the CEO is the former head of the World Gold Foundation, he is very impressive when you see him in interviews etc, knows what he is talking about and very experienced in the field. I think they will do very well, if they can spread into more countries beyond Malaysia soon.
Yes.I think so to. Really hoping this project would succeed.
Hey guys,
Robin Lee was the CFO at the World Gold Council, and he is indeed the CEO you want when you embark on the journey to bring gold to emerging and crypto markets alike!
HelloGold will soon extend its operation beyond Malaysia, and that leads me to repeat something that I believe a lot of people do not realize: HelloGold is NOT a Project, it is a running business with thousands of real customers already using its App to buy gold easily and at an affordable rate.
I think this is something very important to keep in mind when you compare it to other ventures in the crypto space...
Yes, I will try to keep that in mind. I am continuously reading reviews to get updated and to know more about this project.
Thank you.
April 27, 2018, 07:51:41 AM
So why is this not recovering at all unlike every other coin in existence? Usually hints to some severe issues.
Clearly HGT has had very little visibility on the crypto market, and so has HelloGold... hence the weak price activity, and low volume also means higher exposure to price volatility... Having said that, I think the logic your pointing at isn't quite as true as one might think. We all know a quantity of tokens right now that are rising like mad, yet there is no actual business backing them, so I am not sure -given the rather irrational rationale behind crypto prices- that any project's value is correctly indicated by the price of the token..
Contrary to most of the current projects in the crypto space, HelloGold is already running a business with thousands of retail customers, and it's revenue stream isn't exclusively linked to the crypto world, which I believe is a good thing given the volatile nature of this environment right now.
But in any case you are right in pointing at the low traction that HGT currently has, this is actually the main concern our supporters are voicing on our Tekegram group (https://t.me/HelloGoldOfficial). It is something we are currently tackling, refocusing some of our resources to marketing in the crypto world (we've been busy focusing on retail customers for our core business so far) and working on some new feature for the HGT token...
All good things come to those who wait
I don't have any other choice than waiting anyway, my HGT sits in my hardware wallet. Also: where are the thousands of customers? It is baffling that the price now is lower after the market increased 50% than at the point where BTC was 6500$. I hate to FUD my own coin, but this is sad.
I share your frustration regarding HGT price and it not bouncing back up with the rest of the market...we're definitely not on board of the hype train, yet.
The thousands (18,000+) of HelloGold's customers are in Malaysia at the moment, they are using our Mobile App to buy and sell gold. Soon we'll be extending operations in Thailand, and the Middle East is also a near target. As I said earlier HelloGold's effort has been directed towards retail customer acquisition, and clearly the crypto market -and the promotion of the HGT token- have not been the main focus.. I believe this will change in the coming weeks, the milestone token burn announcement is the first sign of that.
So keep those HGT warm in your wallet, and I I hope in a couple of months we can have another discussion about how good HGT is to you !!
I will. Thanks for the effort.
April 25, 2018, 09:42:47 PM
So why is this not recovering at all unlike every other coin in existence? Usually hints to some severe issues.
Clearly HGT has had very little visibility on the crypto market, and so has HelloGold... hence the weak price activity, and low volume also means higher exposure to price volatility... Having said that, I think the logic your pointing at isn't quite as true as one might think. We all know a quantity of tokens right now that are rising like mad, yet there is no actual business backing them, so I am not sure -given the rather irrational rationale behind crypto prices- that any project's value is correctly indicated by the price of the token..
Contrary to most of the current projects in the crypto space, HelloGold is already running a business with thousands of retail customers, and it's revenue stream isn't exclusively linked to the crypto world, which I believe is a good thing given the volatile nature of this environment right now.
But in any case you are right in pointing at the low traction that HGT currently has, this is actually the main concern our supporters are voicing on our Tekegram group (https://t.me/HelloGoldOfficial). It is something we are currently tackling, refocusing some of our resources to marketing in the crypto world (we've been busy focusing on retail customers for our core business so far) and working on some new feature for the HGT token...
All good things come to those who wait
I don't have any other choice than waiting anyway, my HGT sits in my hardware wallet. Also: where are the thousands of customers? It is baffling that the price now is lower after the market increased 50% than at the point where BTC was 6500$. I hate to FUD my own coin, but this is sad.
I share your frustration regarding HGT price and it not bouncing back up with the rest of the market...we're definitely not on board of the hype train, yet.
The thousands (18,000+) of HelloGold's customers are in Malaysia at the moment, they are using our Mobile App to buy and sell gold. Soon we'll be extending operations in Thailand, and the Middle East is also a near target. As I said earlier HelloGold's effort has been directed towards retail customer acquisition, and clearly the crypto market -and the promotion of the HGT token- have not been the main focus.. I believe this will change in the coming weeks, the milestone token burn announcement is the first sign of that.
So keep those HGT warm in your wallet, and I I hope in a couple of months we can have another discussion about how good HGT is to you !!
Jump to: