Quote from: ReubenMachinga on July 28, 2018, 08:48:52 AM

Quote from: NetwknGRU on July 28, 2018, 08:20:12 AM

Quote from: ReubenMachinga on July 28, 2018, 08:00:43 AM

Quote from: NetwknGRU on July 28, 2018, 07:43:32 AM

Quote from: ReubenMachinga on July 28, 2018, 06:52:56 AM

Quote from: meikogi on July 28, 2018, 01:11:22 AM

I wish this business matchs a great profit! Faultless website, interesting business, attentive project!

Thanks! It's very very likely that the profits will be impressive. It's well worth paying attention to this project. To the best of my knowledge, there's no other project quite like it. Instead of buying gold from elsewhere, the value underlying the GMA token is mined right out of the ground. For investors, this means a much greater probability of success, and high returns as well. As I said, a project well worth paying attention to.

I'm Happy that you brought that up Reuben.. aside from the fact that this is well thought out project and brilliantly planned, This project is valuable in many levels
1. Gold - Gold is recognized as a having a long-term record of stability. The U.S. has had a completely paper-based currency for 45 years, while gold has been a medium of global exchange for more than 5,000 years. What I'm trying to say is people look for is something thats an insurance policy, an asset that holds its value in times of trouble,You dont want uncertain reserve assets. With a track record of more than 5,000 years, gold could be the opposite of uncertain.

2. Transparency - Goldma is also valuable because of its transparency... Most ICOs are the opposite of Transparent, With Goldma just opening the white paper reveals a world of information about the project, Goldma invites people to come and see their mine and offices and they are so transparent to the extent that the will open their books and for you down to the receipts!! So yes I agree with you Reuben when you say this is the best project ever!

Oh yeah! Transparency is a major thing! Goldma is transparent because there is a solid belief in metrics here. Promises have to be measurable and then quantified. That makes it easy to see what's actually happening. The reports about what's happening at the mine will be available.

Obviously I can't ignore the hard data you're alluding to. The US Dollar has lost an incredible amount of value ever since 1971, when former US President Nixon did away with the gold standard. Beyond ease of transaction (only one of the requirements we expect from money), the American Dollar isn't worth very much. That's a shock to a lot of people but imagine this: if you had US$100 in 1971, it'll only be worth about $2 today (not a great store of value!!). Inflation is REAL!

OMG

That's really Amazing!! so The Dollar has lost 98% of its value since the Gold Standard was removed..... With that being said I can quote Forbes Michael Roney and say Gold is not a fiat currency. Fiat currencies derive their worth from the issuing government. Unlike paper money, gold cannot be expanded to suit the needs of struggling central banks. Due to its inherent scarcity, gold will always be supported. This precious metal has maintained its purchasing power over long periods of time, unlike all of the fiat paper currencies that have been introduced over the years.

For sure! That dramatic loss of value is hard for many to grasp. I suppose it's because the drama didn't unfold instantaneously. Rather, it was incremental and over a considerably long period of time. Permit a seemingly odd aside. The human brain finds it difficult to understand incremental change. Our brains notice instant change much better.

However, the important change happens, drip by drip, over a long period of time. That's what happened to the dollar. Drip by drip, year by year, there's been an erosion of the dollar's value. Shifting away from the US for a minute, imagine what happens to other countries' currencies. Go look at the rate of inflation in Venezuela. Remember what happened in Zimbabwe. Fiat currencies are bad instruments of holding value over the medium to long term.

Yet another thing to remember is that your financial objectives may differ quite violently to those of the central bank in your country (or of any country in the world for that matter). Let's say they're tasked by the government to increase employment or 'boost' economic activity. They may turn to increasing the supply of money (by manipulating interest rates) in the economy. The result of that is decreasing the value of your currency holdings. The changes may not appear big in the moment but, rest assured, over time, you will lose a sizeable chunk of value.

A Very interesting point! To add to the above post - remember - The largest banks in the United States would have collapsed in 2008 if not for government bailouts in the form of expanded deposit insurance, guaranteed money market funds, zero interest rates, quantitative easing, foreign central bank swap lines, and other monetary gymnastics. Bank depositors in Cyprus in 2013, and Greece in 2015, received a painful education in the difference between a bank deposit and money.
In both cases, banks were closed, ATMs were shut down, and paper currency was soon in short supply. In Cyprus, some depositors had their deposits forcibly converted to bank stock. In Greece, local credit cards could not be processed and a quasi-barter economy quickly emerged - much like Venuzuela - today!

In conclusion, this is a strong case for the Goldma token and why such the Goldma business model will become an important contributor to the blockchain ecosystem.