Re: [ANN] Xaurum RICO

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.

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.

Does this mean that for the given example, the base value of a XAU will be 12.06/2.27093139107 = 5.31g ? (Whereas it was 2.26g before the RICO)

No. the additional quantity is divided between all xaurum coins.

OK, I just completely forgot about the XAU in circulation that will be exchanged for XAUR ... So we have XAUR from XAU, minted XAUR from invested crypto and fiat, and gold reserves bought using invested crypto and fiat.