Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Xaurum [XAUR]
by
excell
on 05/06/2017, 03:18:34 UTC
Can anyone explain the following discrepancy?, I am new to Xaurum so I apologize if it is a simple question.
There was 8,092,484.2232 Xaurum coins issued on Mint 23 July 2, 2017. That means that the Auresco Institute received $2,307,167.25203 USD for purchasing gold, however the Gold increased proportion was only 21,868.49 grams, considering the price of gold floats around $40 USD and the price of refinery is maximum 10 extra that means each 1 gram gold bar should have costed 50$ maximum, and if Xaurum buys in high volume this means the price was probably lower. That being said if the Auresco institute received $2,307,167.25, and only 21,868.49 grams of gold were added to the common wealth, if we multiply times the price 21,868.49 x 50 USD per gram that means only $1,093,424.5 USD were used to buy more gold, $2,307,167.25203 - $1,093,424.5 = $1,213,742.75203 in unaccounted funds, another 24,274.8550406 grams of gold could have been added to the Commonwealth! Am I missing something, is there extra costs involved? Sorry I'm new to Xaurum it would be great if somebody could explain where the extra funds go....