Quote from: Thule on May 21, 2018, 06:21:18 PM

I digged a bit deeper and the project is a big mess.
I checked their whitepaper and businessplan and was shocked what i saw there.

Based on their whitepaper and website each HGT token is limited to a lifetime benefit of 0.0038g of gold !!!!!! which is based on current gold price arround $0.16 .
So the max benefit you will get per hgt token is $0.16 .

So somebody may explain to me why should people by this token for anything near or higher than $0.16 .
Check the ICO price and now have a look at the max benefit their hgt token can get on current gold price

Next important information.
They said people will just receive 10% of revenue from just the management fee which is 2% of stored gold value per year.
Transaction fee's and all other fee's including 90% of management fee goes directly to the company.

If you check their businessplan their final goal for 2024 is to have 40 billion USD worth of gold stored in their vault.
Thats an extremly high number but lets even assume they will succeed what does it mean for hgt holders.

2% management fee from $40.000.000.000 gold value stored in vault is $800.000.000 management fee per year.HGT holders get from these $800.000.000 10% which is $80.000.000 revenue share.
This money will be shared to one billion token which is $0.08 per hgt token.

So if they succeed and grow really that big you as hgt holder will get in 2024 (in 6 years) $0.08 benefit per hgt token.

There are some other concerned numbers but i got contacted by a journalist and i guess he will publish it shortly.

However anyone being familar with the gold business knows 2% fee per transaction and 2% management fee,redeem fee etc is extremly high in the gold business and even the fee's are so high
they are so GREEDY (cause else you can't call it) that they will share only 10% of revenue from the management fee.
Themself they keep whole ownership of the company and of nearly all profit/revenue for themself .
They claim its because of the high cost but anyone can check himself how much it cost to store gold even as private person and that these companies are way smaller and still making good profit.

So anybody investing his money for a 10% revenue share of the management fee must be aware the benefits should this project even succeed will be very small

You are basicly financing this company with no real compensation at all.There is only one beneficiant which is the owner getting cheap money and taking no risk.

What makes me really mad is the clear attempt of the team to get cheap money and kick off investors with some poor bones.

If you check max benefit a HGT token is allowed to get and ICO price the difrrence is just arround 3 times from ICO price.

Is that really a fair deal ?

here from their website

Quote

What is the return on HGT?
There is no guaranteed return on HGT. The disbursement of reward GOLDX to HGT holders is discretionary by HGF. However, as the lifetime total allocation of GOLDX is capped at 3,800,000 GOLDX (i.e. 3.8 metric tonnes of gold) to the 1,000,000,000 HGT created, each HGT will receive a maximum of 0.0038 GOLDX (i.e. 0.0038 g of gold).

You see these 0.0038g maximum limit they put for each HGT ?Limiting the max benefit to currently $0.16 .
Do anybody really belive they made it by mistake seeing all the other low profit sharing attempts ?
Sorry but i belive its done on purpose.
The CEO knows exectly how to count so he knows also exectly about the limit he put for you guys

They didn't even talked about it till i exposed this fact where they later banned me claiming i was creating fud but noone just showed me i'm wrong by proofing his numbers cause my numbers are legit and say everything about that project so they started the personal way to attack someone and discredit

So after two months i went back to their chat using another account since my first one was banned asking for the 1 BTC bet with Robin (CEO) that he will never remove the max goldx cap which makes hgt basicly worthless.
Price dropped during that time from $0.05 to $0.007 .Very low volume and no real progress at all.

I told Robin that 2 months passed and he failed during these 2 months to make a quick 5 minute announcement about taking the max gold cap away.
As i thought just poor excuses saying the bet is still on and it needs the right timing to announce it.I guess the fact that the coin lost ofer the last 2 months over 86% of its value and is just a small fraction of the ico price is still not a good timing for him. LOL
I contacted him 3 weeks ago already telling i'm waiting for the announcement.

So he sweared everyone 2 months ago to make that announcement and bet with me for 1 BTC and refuses to pay the 1 BTC claiming the bet is still on.
He is never going to make that announcement.I know it for a fact and thats why the coin has no value at all.
Of course his paid shillers instantly joined to attack me like good old quentin or anonoz .
It's actually funny cause 2 months ago they claimed we will see soon new ATH LOL .
Yeah so if you want my honest opinion this project has no future and is dead.
After so long time there was no increase in app usage
They have 10k active users/customers who just own $150k of gold.Thats just 3,5 kg of gold lol.
They got a total of arround 10kg of gold stored in their vault.Not much at all.
But the funny part is how they evaluated the value of the existing company hellogold.
My counting on that is if there is $150k worth of goldx tokens and lets even say they make a killing 10% of it
per year thats $15k revenue

How much can such a company be worth ?
Oh yeah i know it will explode soon.Competition is sleeping and people just waiting to flood them with their money for no real revanue based on their token model

I also didn't thought Robin has no backbone to stay to his word on the bet and refuses to pay after 2 months to an animal shelter but i guess all the mess they created makes him panic.
The OKex voting was the biggest joke.He had no clue that you need to pay an extortion to the OKex token holders for their votes

and claiming at the end he decided to not focus on exchanges but on development makes me laugh since i told him 2 months before he has no chance at OKex without spending a high amount of money which he is not willing to do and where he said he has everything under control.

So open your eyes and make a clear reasearch since in my opinion this coin will 99% fail and if it won't fail the earnings possibility are extremly low because of the max gold cap for hgt tokens.

Somebody asked where did i read about the max gold cap.Its officaly and you can read it on their website

https://www.hellogold.org/en/faqs.html

On "What is the return on HGT"

Quote

What is the return on HGT?
There is no guaranteed return on HGT. The disbursement of reward GOLDX to HGT holders is discretionary by HGF. However, as the lifetime total allocation of GOLDX is capped at 3,800,000 GOLDX (i.e. 3.8 metric tonnes of gold) to the 1,000,000,000 HGT created, each HGT will receive a maximum of 0.0038 GOLDX (i.e. 0.0038 g of gold).
Really ?

It also seems like they deleted this fact on many places to make it more difficult to see it as it effects their coin heavily but still deny to
take the gold cap away