Cryptographic Silver Token: Lode

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XFactor
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Cryptographic Silver Token: Lode

Postby XFactor » Mon Dec 10, 2018

Been following this project for several months and with next round of tokens being generated I thought I'd bring this to the community for discussion. You can send physical silver to vault where it is assayed and a smart contract issues you Lode and AGX tokens. Each Lode token is worth 3.7 grams of the underlying physical. Each AGX coin is worth 1 gram and can be changed back into physical. As of right now its min 100oz to contribute. Take a look at the whitepapers, lets have a discussion about the pros and cons!

Of course I have to share a link! Just like Coinbase if you share- each party gets a little something :lol:
https://members.lode.one/register/joinwith/1924915425/link

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Brick's
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Re: Cryptographic Silver Token: Lode

Postby Brick's » Mon Dec 10, 2018

Before I put any time into reading white papers and giving away my personal information "registering," help me to understand how turning my physical 100 oz silver into crypto and tokens then back into silver(including any costs incurred doing so) anytime is better than or has more value than holding onto the silver.
"Those who can make you believe absurdities can make you commit atrocities" Voltaire

Schwartzy
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Re: Cryptographic Silver Token: Lode

Postby Schwartzy » Fri Dec 14, 2018

I've thought about this project but I just can't grasp sending 100 oz of my silver to hold onto for me. I will say, I like the idea of a cryptolike currency that is backed by Silver but I'm not sure it's gonna be a hit. Wtf do I know though. That's my 2 cents.
:duck: LOOKING FOR YPS # "20" (YP SCHWARTZY)

XFactor
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Re: Cryptographic Silver Token: Lode

Postby XFactor » Mon Dec 17, 2018

Yeah, tough pill to swallow. Interesting concept though. I know David Morgan is involved, he has been in metals game for decades. Maybe later they lower the minimums to invest.

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Brick's
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Re: Cryptographic Silver Token: Lode

Postby Brick's » Mon Dec 17, 2018

So if I'm "investing" 100 oz silver into this crypto so it can be backed by silver then I'm the Bank. If I'm the Bank then I'd better be making money like JP Morgan or the Rothschilds because I'm using Real Money. Please explain how I'll be making money like the Banksters with this investment. Will it be loaned out? If so, I'd expect my sound money loaned to those with hard money assets committed in case of default at the very least.
"Those who can make you believe absurdities can make you commit atrocities" Voltaire

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Brick's
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Re: Cryptographic Silver Token: Lode

Postby Brick's » Mon Dec 17, 2018

Ok, I'm going down the rabbit hole and their is no mention of what the margins are. Does anyone have any answers yet?
"Those who can make you believe absurdities can make you commit atrocities" Voltaire

XFactor
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Re: Cryptographic Silver Token: Lode

Postby XFactor » Wed Dec 19, 2018

As more silver enters the vaults more AGX coins get created. There is a direct correlation of spot price and total oz to quality of tokens in circulation. I'm still looking into the finer details.

Does this help? https://issuu.com/lodecommunity/docs/lodeprojectpaper/22 (also see page 35-36)

XFactor
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Re: Cryptographic Silver Token: Lode

Postby XFactor » Wed Dec 19, 2018

...incase link doesn't work
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Brick's
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Re: Cryptographic Silver Token: Lode

Postby Brick's » Thu Dec 20, 2018

Arrows going to things I don't understand. Print to small to read. I don't think my questions are that difficult to answer and if they are, then perhaps Lode isn't for me. I'll stick with something easier to understand like ADA.
"Those who can make you believe absurdities can make you commit atrocities" Voltaire


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