Quote from: Nick808 on August 15, 2018, 09:47:20 AM

Quote from: cryptodabbler2014 on August 14, 2018, 10:39:37 PM

Quote from: auric_communications on August 14, 2018, 07:55:18 PM

So the official news from us here at Auric is that we have decided after a day of consideration to go with the 8 hour Flash ICO on Saturday 18th August 1600 UTC to 0000, as previously discussed. It's not a perfect solution, but it should help spread the ownership of Auric coins further and reduce the risk of an institutional lockout come the main ICO on September 1st.

There will be just 10% of the total Auric supply on offer (800,000 coins), at the same terms as the main ICO ie a BTC or ETH equivalent of 0.001oz of Gold per coin. This price will be rounded to the nearest 100 Aurics and will be displayed at a rate of Aurics/BTC and Aurics/ETH. The actual rate will depend on the price of the purchasing cryptocurrency and the daily spot price of gold, as per the formula in the whitepaper. Minimum purchase spend is either 0.02 BTC or 0.3 ETH, thereafter going up in multiples of 0.01 BTC and 0.1 ETH. Simply complete the form with the amount of currency you're looking to convert to Auric and we will provide you with a personalised invoice for your purchase.

All will become clear when you visit the Flash ICO link on the website, which we will turn on sometime nearer the end of the week. We will also link it to this thread for convenience.

We hope you all understand and appreciate the reasons we are doing this. It's purely to help the community - it is creating a lot of extra work for us, but we all feel it's the right thing to do to combat mass buys of our precious Auric coins and spread them further amongst the investors. More news later in the week.

Kindest Regards

Auric Communications

+1 for your plan. I'll be there on Saturday

what is the value of the token? because if you buy gold it should be stored somewhere and you pass an audit. can you look at such an audit? you understand that on one word we bought we can not believe that this is the market.

Thank you for your comments. This is all covered briefly on our website, and in great detail in our white paper. It's also been raised and answered in this thread, but we appreciate it's a key difference with Auric.

Very basically, each Auric is worth 0.001oz of gold and is priced accordingly during the ICO. This is matched by an equivalent amount of gold stored in merchant accounts at three depositories. Auric's will always have this reserve value that is redeemable for that quantity of gold, regardless of their natural price appreciation against fiat. A perfect solution for protection in uncertain markets, we feel. All of this is audited by Deloitte, and all money flows and balances from the ICO onwards are viewable to all investors for transparency.

Again though, for full details we would refer you to our white paper but thank you for your interest.

Kindest Regards

Auric Communications