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:
so the ratio of gold to xaurum increases.
Thx.