Quote from: Puhi on September 02, 2015, 09:03:36 PM

Quote from: Bumblez on September 02, 2015, 06:07:37 PM

Ok, so the plastic is not fake. How do we know you didn't just buy the plastic wrapper, then insert gold colored stuff? Could be candy for all we know. Then start a business that basically sells candy bars for a ton more than its worth. Start a website, start a mining pool, and blow air up our arses. All of which will ultimately fail, once someone melts some Xaurum. Seems like a ton of work for failure. But is it?

With all the coins that go through here that are basically copy and paste work, I can see the problem. Seriously tho, try saying what your thinking out loud. Then ask yourself, does that make sense? Worst that can happen for these guys now, is they end up with a currency that is worth nothing. Have a ton of gold, decide to try another currency or sell the gold. We as investors, if we dont dump the coin for a quick buck. Are basically in control now. There will be people that dont give a crap and dump the coin. Its up to the serious ones to not sell ever, or at least keep the price going up.

A serious question I do have though. Where is the business model or promise, that says you will never withdraw your gold from the coin? Or change how the coin works? If gold goes way up, you could just tank the coin and sell all the gold.

Interesting thoughts. Similar to my own.

Disclaimer: If everything coin authors are stating is true, I believe this coin is by far the best digital currency possible. It is state of the art technically, backed fully by gold and creates additional value for all stakeholders all the time (owners, miners, traders, ...).

My understanding of this coin:
1. there is an official registered company - institute behind it. One of their tasks is to store the gold for the owners of XAU (the physical gold belongs to XAU owners). If they steal the gold, they automatically go in jail for a long long time.
2. compared to all other coins on the market, this one is the only one with clearly defined base value. It is backed by gold and the quantity of gold behind every XAU grows all the time.
3. the base value of XAU grows with market coinage.
4. a smart person would do two things:
- buy and keep XAU (please look at the trend of growth of value of gold behind every XAU)
- buy everything below base value, melt it into gold and sell the gold (it would be cheapest gold in the world)

I believe that coin creators have two solutions for your serious questions:
1. the gold will be stored in mints and every owner of XAU will be able to melt XAU directly in mints. Auresco will have nothing to do with it, because direct link between XAU owners and their gold will be made.
2. The coin rules are set and will be adjusted only based on voting system. Votes will be linked to amount of XAU owned by a voter. Again, the coin creators will participate only with their shares of XAU.

What do you think?

Shareholder system does not work in the real world. Those who have money or influence already (guardian notes possibly) could be used to control the currency. Need to be finite, and simple. It makes no sense to hold on to the gold forever and let it sit there. If the extra gold were re-invested and pofits payed out to the current holders of XAU annually, that would fix the POS issue. Also there is about 55,000 dollars invested into this currency. Each XAU right now is greatly inflated by the crypto market already. And mining it at the moment is not profitable. So everyone is paying to create this coin. So if the second rule were changed to everyone with even a small amount has equal say in the coin. That would be better IMO. Also a business model needs to be created, and gold that is needed to back the currency held, and insured. Maybe burn XAU until there is enough to build a goldmining company? Then the company is owned by XAU holders. Should build infintely. And be completely democratic.