AurumCoin – The first distributed open source cryptocurrency to be backed by gold: CoinMarketCap
Aurum coin (AU) network was hacked (51% attack), a total of 15,752.26 AU is missing from Cryptopia’s wallet (cryptopia.co.nz exchange). Aurum coin network is not the responsibility of anyone, same as Bitcoin network, it is an open source distributed crypto currency. What’s worse is that cryptopia exchange do not admit it. This is not the way to solve this problem.
We intend to fully back-up AurumCoin (AU) with pure gold, in the future, when the coin value will reach the target price:
1 AU = 1 OZ (pure gold 24K) using market makers. This will take time, but we have patient.
Gold standard will be back using AurumCoin (AU) cryptocurrency.
AurumCoin (AU) is a distributed cryptocurrency, has its own blockchain since 2014 and only 300,000 coins can be mined, so gold-backed cryptocurrency is possible. We are not related to any new ico based on ethereum.
The first few who invested in Bitcoin made an excellent investment. Now you have the chance to be one of the first investors in AurumCoin. Investing now can make a change, and a profit for you in the process.
Gold (“Aurum” in Latin) is the base of the economy as we know it today, and furthermore, gold was the measure by which currencies were valued throughout history. AurumCoin was created to unite the world around one coin that combines innovative technology like that of Bitcoin, the global tradability of the dollar, and the consistent, timeless value of gold. AurumCoin poses a legitimate and unaffiliated alternative to existing currencies and intends to provide a stabilizing force in today’s monetary system. This solution’s principles are to be reliable, tradable, and legal. As an international currency, you can pay and receive money easily and safely, anywhere, anytime via any device.
This means that each AurumCoin is backed up in solid gold.
Since AurumCoin is backed by gold, it stands out from other currencies. Gold is a natural element with a finite amount and cannot be created out of thin air like the dollar today. Nor is it mere speculation like Bitcoin, which is prone to instability due to lack of inner value. AurumCoin is immune to inflation, and since it is globally unaffiliated, it does not work in the interests of any one single country.
AurumCoin emphasizes limited and minor conversion fees, unlike the exorbitant amounts imposed on the public by banks today. Your participation, and widespread AurumCoin usage, will reduce the need for conversion fees. AurumCoin is the perfect digital currency for online purchases and international transactions, and plans on working with all standard payment systems, such as PayPal, Google Wallet, credit cards, etc.
When you buy an AurumCoin you actually buy a digital proof for pure gold that will be stored and insured in professional high-security gold vaults in Zurich, London, New York, Toronto, Singapore, Dubai and Hong Kong.
Because AurumCoin is based on the gold standard, it contains built-in mechanisms for market and economic stability. In order to preserve its value, we will use market makers to back up each AurumCoin in pure gold, AurumCoin’s par value will always be worth agreed amount of pure gold.
Each AurumCoin will be backed by gold, and a series of actual 24ct gold coins will be produced so that you can withdraw your money like any other currency. Each coin will represent one digital AurumCoin, just like each dollar you withdraw from the ATM represents one digital dollar in your bank account. In the future, you will be able to deposit AurumCoins into your AurumCoin account.
Created by gold, a natural element.
Has intrinsic value because it is backed by gold.
Its gold backing provides it with great economic stability and suitability as a global currency.
The par value is known at any moment as agreed amount of pure gold.
Will have a partial central mechanism operating behind it (for fast and environmentally friendly mechanism).
The amount of coins will always match the amount of gold.
Created by mining, therefore wasting valuable time and resources.
Has no intrinsic value.
Unstable and prone to wild and unpredictable fluctuations. Therefore, it is speculation rather than currency.
Its worth is determined solely by supply and demand.
Has no central mechanism operating behind it (mechanism is not environmentally friendly).
The amount of coins has already been determined.
What is AurumCoin and how does it work?
What exactly is the gold standard again and why is it important?
What is digital currency? Is that something like PayPal?
Why do we need a new currency?
Why should I use Aurum Coin? I already invest in dollars (or alternatively, my national currency).
What do you mean by “liquefying” gold?
What will be the weight and gold-backing ratio of AurumCoin?
Indiegogo paused our campaign because it consider to be financial benefits (although previously approved).
After this we changed our plan and intend to fully back-up AurumCoin (AU) with pure gold, in the future, when the coin value will reach the destination: 1AU = 1OZ (pure gold 24K) using market makers.
The market makers will take fees to convert the digital coin to the psychical coin.
AurumCoin (AU) cryptocurrency is a success and don’t need a crowdfunding campaign any more.
Who is the team behind this project?
We are obligated to operate legally and therefore we cannot reveal ourselves at this point. The operation will be located in a country that allows this project to operate completely legally.
What happens if the project fails?
In which countries will people use Aurum Coin?
With your help, we can bring gold back as a worldwide currency.
How do I purchase an AurumCoin?
Where can I download the latest AurumCoin (AU) Wallet?
The market needs a trustworthy and legitimate currency that can lead to positive change. As a gold-backed currency with inner value, AurumCoin poses an international and unaffiliated alternative to existing currency and to the monetary regime. The result of careful planning and preparation, AurumCoin is designed to be reliable and tradable. AurumCoin is committed to ensuring that all operations – such as customer service and the currency management mechanism – will operate under the principles of simplicity, transparency, and fairness. We need your cooperation in spreading the word and supporting AurumCoin. A small investment will go a long way in leading to positive global change!