Topic: GOLD BARS Launching 18th January 2014 - page 4. (Read 7842 times)

Their maths dont add up.

0.1 bars per block.

1 block per minute.

1440 blocks per day.

525600 blocks per year

52560 bars per year.

3.5 premine = 3360000 bars.

it will take 63.92 years before the public has accumulated as many bars as the premine.  Giving away 0.5% to 1.0% of the premine will not bring this into an acceptable range either imho.

LOL @ bigsteelboxnotes.

I'm in the UK so our notes aren't backed up by Gold. Gordon Brown sold all of our reserves.

It is indeed, but I had hoped that supported by real gold, silver and platinum meant that it was supported by real gold, silver and platinum.

Just like back in the 19th century, sweet.

I have an idea......why dont the GoldBars devs buy a shit-load of G,S+P, lock it up in a big steel box, and then write on a piece of paper that they will give a certain amount of gold (or S or P) to anyone with the piece of paper. We can then buy these pieces of paper from them.

So we exchange BTC for the piece of paper and then use the paper to buy stuff with. Much easier than carrying a computer down to the supermarket.

Lets call the pieces of paper "notes" or maybe "bigsteelboxnotes"

Is that a rhetorical question? 

I mean, zero is a number too, right?

So, er, how much gold have u purchased in order to support the currency?

You should change your nick to scamcoindev. Or perhaps onlyidiotsminemycoins. I think it would look much better on your crydittz Cry you Ditz!

2.5% is unnacceptable and i can gaurantee you, with this large premine no one will support this. Just mine like the rest.

Lol @ 3.5% premine good luck nonetheless

another shitty coin.

- Premine: 3.5%
An estimated Pre-Mine of 3.5% is required for the purpose of retaining and investing in real, actual gold deposits which will increase the value of your coins in the future*. Of this 3.5% around 0.5% - 1% will be kept for promotions, currency development and ensure future giveaways and use to make a positive difference to the world by relieving poverty, providing financial opportunities and improving real world social problems through donations, work and provision of opportunity.

AGAIN DEAD

2,5 % FOR YOU GL

Can I get a real Gold Bar instead? 

Release date: DELAYED TO 6PM GMT, 25th January 2014

Coin Information

GoldBars (also known as GoldBullion, GoldIngots, Gold  and TrueGold)
This new “Alt-Coin” is part of a brand new group of asset based crypto currency including SilverBar and PlatinumBar supported by real gold, silver and platinum.
We see Gold, Silver and Platinum as potential real payment systems in the future, unlike most coins however our premine will be invested in real Gold, Silver and Platinum to give long term real world value to our currencies.

Our GoldBars are created to be mined across a 50 year period ensuring these are always in demand, always rare and will ensure a greater value whether its person to person or on an exchange. Each of our 96,000,000 (96 million) bars represents all of the gold bars currently ingotted and stored in any part of the world - around 40,000,000 bars - and a further 56 million bars yet mined from the precious earth).

Due to tjhe potential high value of these bars, we will offer a secure storage facility for your gold coins when mined to ensure that you never lose these valuable deposits.

Value

The value of One Bar Of Gold in real terms is over $600,000 dollars compared to Platinum ($460,000 dollars per bar) and Silver ( $1,380 dollars per bar), what will our cryptocurrency be valued to.......?

Although our coin is premined, 2% of the 3.5% premine will be reserved purely for investment into ore, e.g. sold/exchanged and used to purchase holdings of real gold*

*We do not know at this time the value of our coins or the value of ore invested. All details of investments will be made publically available at all times. The same applies to any asset based coins released.

Mining

- 1 minute block target
- 5 Confirms per transaction
- Difficulty re-targets every 60 minutes
- Block reward 0.1 estimated
- Total coin supply: 96,000,000 (96 million - one for every gold bar in storage and mass awaiting mining)
- Scrypt


- Premine: 3.5%
An estimated Pre-Mine of 3.5% is required for the purpose of retaining and investing in real, actual gold deposits which will increase the value of your coins in the future*. Of this 3.5% around 0.5% - 1% will be kept for promotions, currency development and ensure future giveaways and use to make a positive difference to the world by relieving poverty, providing financial opportunities and improving real world social problems through donations, work and provision of opportunity.

Our coin has been minted (compiled pending launch)

Wallets ready on launch;

Linux wallet (ready)
Mac wallet (compile failed) - MacOs Compiler Req - Bounty Paid Please Contact Asap
Windows wallet  (compile failed) - MacOs Compiler Req - Bounty Paid Please Contact Asap

Pools:

Please contact us at [email protected] if you wish to have your pool added

Hashasaurus: http://gold.hashasaurus.com (available for signup on Saturday 18th January)

FAQ:

#1. - Question: When and where can we download the wallets.
#1a. - Answer: Our wallets will be available to download from our website and linked to from a number of websites including here as soon as possible and in advance of coin launch.

#2. - Question: Why GoldBars, SilverBars and PlatinumBars
#2a. - Answer: We understand that there may be considerable value in our coins whos aim is to directly replicate the use of gold, silver and platinum in society into a virtual cryptocurrency

#3. - Question: Will Gold, Silver and Platinum be on the exchanges
#3a. - Answer: We are confident that these belong on the exchanges and will be making an application to major exchanges upon launch.

Other:

Blockchain: TBC (will be available upon launch)

Forum: TBC

Website: http://www.commonwealthcoins.org

Anything else please contact us via private message or via email at [email protected]