Quote from: kaicrypzen on July 21, 2016, 10:43:10 AM

Quote from: Aurum Project on July 21, 2016, 10:21:59 AM

Quote from: watuba on July 21, 2016, 02:47:50 AM

Quote from: Aurum Project on July 18, 2016, 10:05:21 AM

BT

Xaurum RICO begins

At the moment xaurum price is 454,13$ , the average price from the announcement to today, that will be used for RICO minting was determined as 428,4$. This means, according to the Xaurum coinage formula, the minting price during the RICO would be 291,07$ for old XAU, considering the splitting, this means the minting price of new xaurum will be 0.03638375$ per XAUR.

According to this and the calculation tables, for every BTC I invest worth ~$650, I will get XAUR at the rate of $428.4 per 8000, so ~12138 XAUR/BTC. This will be used to buy gold, but at the base rate, which is 2.26g/XAU. This means I'm getting $123.85 worth of gold for every $428.4 invested. Or ~$188 of physical gold backing each $650(1 BTC) worth of investment. Is this true or is my math incorrect?

1g 999.9 GD Nadir goldbar costs 54,80$ (including storage and insurance),
BTC = 661$;

You get 2.27093139107 XAU * 8000 = 18167.4511286 XAUR and 661$ of gold is bought for the commonwealth (11.6 g) so the ratio of gold to xaurum increases.

2.27093139107 XAU comes from 661/291.07 (BTC price divided by minting cost), minting cost is actually what costs an investor to mint a XAU (you invest 291,07$ and you get 1 XAU).

If the price of 1g of gold is 54.80$ then 661$ would buy 661/54.8 = 12.06g. Can you please explain why you mentioned 11.6g?

Can you also please elaborate more on:

Quote from: Aurum Project on July 21, 2016, 10:21:59 AM

so the ratio of gold to xaurum increases.

Thx.

You are correct, there was a mistake, it is 12.06 g. We've corrected the post.
Xaurum ratio is determined by gold reserves/Xaurum money supply, because the gold reserves increase more than the money supply, the base value of all xaurum grows.

Quote from: watuba on July 21, 2016, 10:38:38 AM

Quote from: Aurum Project on July 21, 2016, 10:21:59 AM

1g 999.9 GD Nadir goldbar costs 54,80$ (including storage and insurance),
BTC = 661$;

You get 2.27093139107 XAU * 8000 = 18167.4511286 XAUR and 661$ of gold is bought for the commonwealth (11.6 g) so the ratio of gold to xaurum increases.

Okay, my math and understanding was way off! So can you tell me what % of my BTC would be backed by real gold if the RICO ended right now, and I had invested BTC in it?

This can't be determined in advance, as it includes empirical variables. The minting process will determine exactly that.

We're currently in the process of minting, it will take a few hours.