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Once the stop sign is removed and this is pink current, other trading platforms will be able to start to get in on this action.. patiently waiting until then. Let BTC do its thing and this will eventually follow exponentially
Although it is always good to have some metal in hand for an emergency, (i recommend it highly, actually) a gold-backed crypto where the metal mined immediately goes straight to tokenization AND is able to be bought at spot price (I wouldn't mind if AABB even added at small percentage premium on top) is, in my mind, revolutionary... This is an operation and concept that has never existed, however is very attainable. The middle man is completely cut out of the Miner to End-Consumer process. The customer, without the hassle of paying high physical premiums and storing their own physical gold, can access real physical gold through a secure crypto token.
The company has the pieces in play:
1. the actual ERC-20 token on Ethereum.
2. Existing access through relationships in Asia (Asia big, bro — China, India — that’s like over 2B people).
3. Cash on hand.
4. Stake in existing mine(s) and access to real gold production.
Again, the token will be backed by the actual precious metal. Something the Comex, LBMA, the GLD ETF and the many other Gold-based derivatives which highly likely are not. They’re very close to being criminal operations, honestly.
SOBERING REALITY ALERT: The world paper gold market is said to be about a 300-500 to 1 paper ounce to physical ounce ratio.. Some even go as far as saying it’s over 1000-1 paper to physical. I’m not here for that debate, as there is good due diligence one can do themselves. I’ve been following precious metals for over ten years and, personally, I land on the more that 500-1..
***AABBG token will be backed by physical gold at 1:1... ONE TO ONE!!!
Think about how the Fed Reserve prints money out of thin air.. Think about fractional reserve banking (the process of lending where a bank only has to have a fraction of the paper money that gets lent out, which originally is printed out of thin air anyway, in their bank reserves).. Bitcoin, which I’m not against, is backed up simply by the idea of supply and demand, and its scarcity. And an idea 10+ years in the making. That’s it.
The company just recently put the AABBG website out.. I'm waiting to hear from them directly how this is all going to work. If they've been in the business so actually as to have sold a gold mine, I'm not too worried how the gold that will back up the token will be sourced. Ideally, it would already be in their possession. If they're basing it off of current bullion holdings as well as gold they have in the ground, I'm good with that. If they have substantial drill reports on the land they own and have under control... great.
The value, to me at least, is twofold.
1. Increase in the price per AABB share.
2. Increase in the paper spot market price of gold.
Having paid attention to precious metals for the past 10+ years (long enough to have a grip on the industry), the past 6 - 12 months has gradually seen a decoupling of the paper Comex/ LBMA spot price versus the price of physical gold in hand (local coin dealer/ online bullion shop)…
… If the majority of the gold tied to the AABBG token is still in the ground, then they are not paying the roughly $1,700 per oz to mine it. Mining costs average in Mexico (I did the homework) average between $325/ oz to $700/ oz.. Let’s use the average, round number of these two and just say $500/ oz mining cost.. At a $1,700/ oz paper spot price, you would subtract the $500/ mining cost which would give the gold miner a $1,200/ oz profit on each ounce of gold they would mine. Gold is measured by troy ounces, which is about 31 grams per troy ounce..
Other “Gold-backed” crypts:
1 - PGMT is traded on only two exchanges. I've never hear of either of them. They're also not a miner, they are only a refiner. It doesn't look like they're available for purchase in the US. Only 916 PGMT tokens have ever been minted.
2 - DGX is also not available in the US and are only available on seven exchanges, six which I've never heard of. They only have 76,644 DGX tokens.
3 - PAX Gold is tied to the LBMA, another criminal enterprise along with the Comex. LBMA is part of the 500-1 paper to real physical gold ounce problem and, most likely, the gold that backs up the PAX doesn't exist.
4 - Tether Gold - Tether is the Federal Reserve of stable coins. Not backed up by anything and their tether "printing" has played a huge part in the recent crypto bull run. Tether says they're backed up by USD, but they highly likely only have a fraction on the cash on hand versus the amount of tether they're injected into the market.
5 - Meld Gold - I cannot find any info on this token, besides being more of a concept being built on the algorand blockchain. Token is not available for purchase.
Although it is always good to have some metal in hand for an emergency, (i recommend it highly, actually) a gold-backed crypto where the metal mined immediately goes straight to tokenization AND is able to be bought at spot price (I wouldn't mind if AABB even added at small percentage premium on top) is, in my mind, revolutionary... This is an operation and concept that has never existed, however is very attainable. The middle man is completely cut out of the Miner to End-Consumer process. The customer, without the hassle of paying high physical premiums and storing their own physical gold, can access real physical gold through a secure crypto token.
The company has the pieces in play:
1. the actual ERC-20 token on Ethereum.
2. Existing access through relationships in Asia (Asia big, bro — China, India — that’s like over 2B people).
3. Cash on hand.
4. Stake in existing mine(s) and access to real gold production.
Again, the token will be backed by the actual precious metal. Something the Comex, LBMA, the GLD ETF and the many other Gold-based derivatives which highly likely are not. They’re very close to being criminal operations, honestly.
SOBERING REALITY ALERT: The world paper gold market is said to be about a 300-500 to 1 paper ounce to physical ounce ratio.. Some even go as far as saying it’s over 1000-1 paper to physical. I’m not here for that debate, as there is good due diligence one can do themselves. I’ve been following precious metals for over ten years and, personally, I land on the more that 500-1..
***AABBG token will be backed by physical gold at 1:1... ONE TO ONE!!!
Think about how the Fed Reserve prints money out of thin air.. Think about fractional reserve banking (the process of lending where a bank only has to have a fraction of the paper money that gets lent out, which originally is printed out of thin air anyway, in their bank reserves).. Bitcoin, which I’m not against, is backed up simply by the idea of supply and demand, and its scarcity. And an idea 10+ years in the making. That’s it.
The company just recently put the AABBG website out.. I'm waiting to hear from them directly how this is all going to work. If they've been in the business so actually as to have sold a gold mine, I'm not too worried how the gold that will back up the token will be sourced. Ideally, it would already be in their possession. If they're basing it off of current bullion holdings as well as gold they have in the ground, I'm good with that. If they have substantial drill reports on the land they own and have under control... great.
The value, to me at least, is twofold.
1. Increase in the price per AABB share.
2. Increase in the paper spot market price of gold.
Having paid attention to precious metals for the past 10+ years (long enough to have a grip on the industry), the past 6 - 12 months has gradually seen a decoupling of the paper Comex/ LBMA spot price versus the price of physical gold in hand (local coin dealer/ online bullion shop)…
… If the majority of the gold tied to the AABBG token is still in the ground, then they are not paying the roughly $1,900 per oz to mine it. Mining costs average in Mexico (I did the homework) average between $325/ oz to $700/ oz.. Let’s use the average, round number of these two and just say $500/ oz mining cost.. At a $1,900/ oz paper spot price, you would subtract the $500/ mining cost which would give the gold miner a $1,400/ oz profit on each ounce of gold they would mine. Gold is measured by troy ounces, which is about 31 grams per troy ounce..
Other “Gold-backed” crypts:
1 - PGMT is traded on only two exchanges. I've never hear of either of them. They're also not a miner, they are only a refiner. It doesn't look like they're available for purchase in the US. Only 916 PGMT tokens have ever been minted.
2 - DGX is also not available in the US and are only available on seven exchanges, six which I've never heard of. They only have 76,644 DGX tokens.
3 - PAX Gold is tied to the LBMA, another criminal enterprise along with the Comex. LBMA is part of the 500-1 paper to real physical gold ounce problem and, most likely, the gold that backs up the PAX doesn't exist.
4 - Tether Gold - Tether is the Federal Reserve of stable coins. Not backed up by anything and their tether "printing" has played a huge part in the recent crypto bull run. Tether says they're backed up by USD, but they highly likely only have a fraction on the cash on hand versus the amount of tether they're injected into the market.
5 - Meld Gold - I cannot find any info on this token, besides being more of a concept being built on the algorand blockchain. Token is not available for purchase.
When this thing heads below .30, asks get eaten right up.. Looking forward to sniping anything below .3 tomorrow morning. Will keep loading for next week regardless.
https://stocktwits.com/symbol/AABB
Active community of almost 15k
Benjuardo,
Being in this stock is so freakin' dope, dude. Containing the excitement is the most difficult thing to do these days. Good luck as this keeps riding up to its true value.
BeastMode530
Although it is always good to have some metal in hand for an emergency, (i recommend it highly, actually) a gold-backed crypto where the metal mined immediately goes straight to tokenization AND is able to be bought at spot price (I wouldn't mind if AABB even added at small percentage premium on top) is, in my mind, revolutionary... This is an operation and concept that has never existed, however is very attainable. The middle man is completely cut out of the Miner to End-Consumer process. The customer, without the hassle of paying high physical premiums and storing their own physical gold, can access real physical gold through a secure crypto token.
The company has the pieces in play:
1. the actual ERC-20 token on Ethereum.
2. Existing access through relationships in Asia (Asia big, bro — China, India — that’s like over 2B people).
3. Cash on hand.
4. Stake in existing mine(s) and access to real gold production.
Again, the token will be backed by the actual precious metal. Something the Comex, LBMA, the GLD ETF and the many other Gold-based derivatives which highly likely are not. They’re very close to being criminal operations, honestly.
SOBERING REALITY ALERT: The world paper gold market is said to be about a 300-500 to 1 paper ounce to physical ounce ratio.. Some even go as far as saying it’s over 1000-1 paper to physical. I’m not here for that debate, as there is good due diligence one can do themselves. I’ve been following precious metals for over ten years and, personally, I land on the more that 500-1..
***AABBG token will be backed by physical gold at 1:1... ONE TO ONE!!!
Think about how the Fed Reserve prints money out of thin air.. Think about fractional reserve banking (the process of lending where a bank only has to have a fraction of the paper money that gets lent out, which originally is printed out of thin air anyway, in their bank reserves).. Bitcoin, which I’m not against, is backed up simply by the idea of supply and demand, and its scarcity. And an idea 10+ years in the making. That’s it.
The company just recently put the AABBG website out.. I'm waiting to hear from them directly how this is all going to work. If they've been in the business so actually as to have sold a gold mine, I'm not too worried how the gold that will back up the token will be sourced. Ideally, it would already be in their possession. If they're basing it off of current bullion holdings as well as gold they have in the ground, I'm good with that. If they have substantial drill reports on the land they own and have under control... great.
The value, to me at least, is twofold.
1. Increase in the price per AABB share.
2. Increase in the paper spot market price of gold.
Having paid attention to precious metals for the past 10+ years (long enough to have a grip on the industry), the past 6 - 12 months has gradually seen a decoupling of the paper Comex/ LBMA spot price versus the price of physical gold in hand (local coin dealer/ online bullion shop)…
… If the majority of the gold tied to the AABBG token is still in the ground, then they are not paying the roughly $1,900 per oz to mine it. Mining costs average in Mexico (I did the homework) average between $325/ oz to $700/ oz.. Let’s use the average, round number of these two and just say $500/ oz mining cost.. At a $1,900/ oz paper spot price, you would subtract the $500/ mining cost which would give the gold miner a $1,400/ oz profit on each ounce of gold they would mine. Gold is measured by troy ounces, which is about 31 grams per troy ounce...
***$1,400/ oz profit on each ounce of gold mined... STRAIGHT TO THE BOTTOM LINE OF AABB !!!***
Other “Gold-backed” crypts:
1 - PGMT is traded on only two exchanges. I've never hear of either of them. They're also not a miner, they are only a refiner. It doesn't look like they're available for purchase in the US. Only 916 PGMT tokens have ever been minted.
2 - DGX is also not available in the US and are only available on seven exchanges, six which I've never heard of. They only have 76,644 DGX tokens.
3 - PAX Gold is tied to the LBMA, another criminal enterprise along with the Comex. LBMA is part of the 500-1 paper to real physical gold ounce problem and, most likely, the gold that backs up the PAX doesn't exist.
4 - Tether Gold - Tether is the Federal Reserve of stable coins. Not backed up by anything and their tether "printing" has played a huge part in the recent crypto bull run. Tether says they're backed up by USD, but they highly likely only have a fraction on the cash on hand versus the amount of tether they’ve injected into the market.
5 - Meld Gold - I cannot find any info on this token, besides being more of a concept being built on the algorand blockchain. Token is not available for purchase.
Although it is always good to have some metal in hand for an emergency, (i recommend it highly, actually) a gold-backed crypto where the metal mined immediately goes straight to tokenization AND is able to be bought at spot price (I wouldn't mind if AABB even added at small percentage premium on top) is, in my mind, revolutionary... This is an operation and concept that has never existed, however is very attainable. The middle man is completely cut out of the Miner to End-Consumer process. The customer, without the hassle of paying high physical premiums and storing their own physical gold, can access real physical gold through a secure crypto token.
The company has the pieces in play:
1. the actual ERC-20 token on Ethereum.
2. Existing access through relationships in Asia (Asia big, bro — China, India — that’s like over 2B people).
3. Cash on hand.
4. Stake in existing mine(s) and access to real gold production.
Again, the token will be backed by the actual precious metal. Something the Comex, LBMA, the GLD ETF and the many other Gold-based derivatives which highly likely are not. They’re very close to being criminal operations, honestly.
SOBERING REALITY ALERT: The world paper gold market is said to be about a 300-500 to 1 paper ounce to physical ounce ratio.. Some even go as far as saying it’s over 1000-1 paper to physical. I’m not here for that debate, as there is good due diligence one can do themselves. I’ve been following precious metals for over ten years and, personally, I land on the more that 500-1..
***AABBG token will be backed by physical gold at 1:1... ONE TO ONE!!!
Think about how the Fed Reserve prints money out of thin air.. Think about fractional reserve banking (the process of lending where a bank only has to have a fraction of the paper money that gets lent out, which originally is printed out of thin air anyway, in their bank reserves).. Bitcoin, which I’m not against, is backed up simply by the idea of supply and demand, and its scarcity. And an idea 10+ years in the making. That’s it.
The company just recently put the AABBG website out.. I'm waiting to hear from them directly how this is all going to work. If they've been in the business so actually as to have sold a gold mine, I'm not too worried how the gold that will back up the token will be sourced. Ideally, it would already be in their possession. If they're basing it off of current bullion holdings as well as gold they have in the ground, I'm good with that. If they have substantial drill reports on the land they own and have under control... great.
The value, to me at least, is twofold.
1. Increase in the price per AABB share.
2. Increase in the paper spot market price of gold.
Having paid attention to precious metals for the past 10+ years (long enough to have a grip on the industry), the past 6 - 12 months has gradually seen a decoupling of the paper Comex/ LBMA spot price versus the price of physical gold in hand (local coin dealer/ online bullion shop)…
… If the majority of the gold tied to the AABBG token is still in the ground, then they are not paying the roughly $1,900 per oz to mine it. Mining costs average in Mexico (I did the homework) average between $325/ oz to $700/ oz.. Let’s use the average, round number of these two and just say $500/ oz mining cost.. At a $1,900/ oz paper spot price, you would subtract the $500/ mining cost which would give the gold miner a $1,400/ oz profit on each ounce of gold they would mine. Gold is measured by troy ounces, which is about 31 grams per troy ounce...
***$1,400/ oz profit on each ounce of gold mined... STRAIGHT TO THE BOTTOM LINE OF AABB !!!***
Other “Gold-backed” crypts:
1 - PGMT is traded on only two exchanges. I've never hear of either of them. They're also not a miner, they are only a refiner. It doesn't look like they're available for purchase in the US. Only 916 PGMT tokens have ever been minted.
2 - DGX is also not available in the US and are only available on seven exchanges, six which I've never heard of. They only have 76,644 DGX tokens.
3 - PAX Gold is tied to the LBMA, another criminal enterprise along with the Comex. LBMA is part of the 500-1 paper to real physical gold ounce problem and, most likely, the gold that backs up the PAX doesn't exist.
4 - Tether Gold - Tether is the Federal Reserve of stable coins. Not backed up by anything and their tether "printing" has played a huge part in the recent crypto bull run. Tether says they're backed up by USD, but they highly likely only have a fraction on the cash on hand versus the amount of tether they’ve injected into the market.
5 - Meld Gold - I cannot find any info on this token, besides being more of a concept being built on the algorand blockchain. Token is not available for purchase.
Although it is always good to have some metal in hand for an emergency, (i recommend it highly, actually) a gold-backed crypto where the metal mined immediately goes straight to tokenization AND is able to be bought at spot price (I wouldn't mind if AABB even added at small percentage premium on top) is, in my mind, revolutionary... This is an operation and concept that has never existed, however is very attainable. The middle man is completely cut out of the Miner to End-Consumer process. The customer, without the hassle of paying high physical premiums and storing their own physical gold, can access real physical gold through a secure crypto token.
The company has the pieces in play:
1. the actual ERC-20 token on Ethereum.
2. Existing access through relationships in Asia (Asia big, bro — China, India — that’s like over 2B people).
3. Cash on hand.
4. Stake in existing mine(s) and access to real gold production.
Again, the token will be backed by the actual precious metal. Something the Comex, LBMA, the GLD ETF and the many other Gold-based derivatives which highly likely are not. They’re very close to being criminal operations, honestly.
SOBERING REALITY ALERT: The world paper gold market is said to be about a 300-500 to 1 paper ounce to physical ounce ratio.. Some even go as far as saying it’s over 1000-1 paper to physical. I’m not here for that debate, as there is good due diligence one can do themselves. I’ve been following precious metals for over ten years and, personally, I land on the more that 500-1..
***AABBG token will be backed by physical gold at 1:1... ONE TO ONE!!!
Think about how the Fed Reserve prints money out of thin air.. Think about fractional reserve banking (the process of lending where a bank only has to have a fraction of the paper money that gets lent out, which originally is printed out of thin air anyway, in their bank reserves).. Bitcoin, which I’m not against, is backed up simply by the idea of supply and demand, and its scarcity. And an idea 10+ years in the making. That’s it.
The company just recently put the AABBG website out.. I'm waiting to hear from them directly how this is all going to work. If they've been in the business so actually as to have sold a gold mine, I'm not too worried how the gold that will back up the token will be sourced. Ideally, it would already be in their possession. If they're basing it off of current bullion holdings as well as gold they have in the ground, I'm good with that. If they have substantial drill reports on the land they own and have under control... great.
The value, to me at least, is twofold.
1. Increase in the price per AABB share.
2. Increase in the paper spot market price of gold.
Having paid attention to precious metals for the past 10+ years (long enough to have a grip on the industry), the past 6 - 12 months has gradually seen a decoupling of the paper Comex/ LBMA spot price versus the price of physical gold in hand (local coin dealer/ online bullion shop)…
… If the majority of the gold tied to the AABBG token is still in the ground, then they are not paying the roughly $1,900 per oz to mine it. Mining costs average in Mexico (I did the homework) average between $325/ oz to $700/ oz.. Let’s use the average, round number of these two and just say $500/ oz mining cost.. At a $1,900/ oz paper spot price, you would subtract the $500/ mining cost which would give the gold miner a $1,400/ oz profit on each ounce of gold they would mine. Gold is measured by troy ounces, which is about 31 grams per troy ounce...
***$1,400/ oz profit on each ounce of gold mined... STRAIGHT TO THE BOTTOM LINE OF AABB !!!***
Other “Gold-backed” crypts:
1 - PGMT is traded on only two exchanges. I've never hear of either of them. They're also not a miner, they are only a refiner. It doesn't look like they're available for purchase in the US. Only 916 PGMT tokens have ever been minted.
2 - DGX is also not available in the US and are only available on seven exchanges, six which I've never heard of. They only have 76,644 DGX tokens.
3 - PAX Gold is tied to the LBMA, another criminal enterprise along with the Comex. LBMA is part of the 500-1 paper to real physical gold ounce problem and, most likely, the gold that backs up the PAX doesn't exist.
4 - Tether Gold - Tether is the Federal Reserve of stable coins. Not backed up by anything and their tether "printing" has played a huge part in the recent crypto bull run. Tether says they're backed up by USD, but they highly likely only have a fraction on the cash on hand versus the amount of tether they're injected into the market.
5 - Meld Gold - I cannot find any info on this token, besides being more of a concept being built on the algorand blockchain. Token is not available for purchase.
Although it is always good to have some metal in hand for an emergency, (i recommend it highly, actually) a gold-backed crypto where the metal mined immediately goes straight to tokenization AND is able to be bought at spot price (I wouldn't mind if AABB even added at small percentage premium on top) is, in my mind, revolutionary... This is an operation and concept that has never existed, however is very attainable. The middle man is completely cut out of the Miner to End-Consumer process. The customer, without the hassle of paying high physical premiums and storing their own physical gold, can access real physical gold through a secure crypto token.
The company has the pieces in play:
1. the actual ERC-20 token on Ethereum.
2. Existing access through relationships in Asia (Asia big, bro — China, India — that’s like over 2B people).
3. Cash on hand.
4. Stake in existing mine(s) and access to real gold production.
Again, the token will be backed by the actual precious metal. Something the Comex, LBMA, the GLD ETF and the many other Gold-based derivatives which highly likely are not. They’re very close to being criminal operations, honestly.
SOBERING REALITY ALERT: The world paper gold market is said to be about a 300-500 to 1 paper ounce to physical ounce ratio.. Some even go as far as saying it’s over 1000-1 paper to physical. I’m not here for that debate, as there is good due diligence one can do themselves. I’ve been following precious metals for over ten years and, personally, I land on the more that 500-1..
***AABBG token will be backed by physical gold at 1:1... ONE TO ONE!!!
Think about how the Fed Reserve prints money out of thin air.. Think about fractional reserve banking (the process of lending where a bank only has to have a fraction of the paper money that gets lent out, which originally is printed out of thin air anyway, in their bank reserves).. Bitcoin, which I’m not against, is backed up simply by the idea of supply and demand, and its scarcity. And an idea 10+ years in the making. That’s it.
The company just recently put the AABBG website out.. I'm waiting to hear from them directly how this is all going to work. If they've been in the business so actually as to have sold a gold mine, I'm not too worried how the gold that will back up the token will be sourced. Ideally, it would already be in their possession. If they're basing it off of current bullion holdings as well as gold they have in the ground, I'm good with that. If they have substantial drill reports on the land they own and have under control... great.
The value, to me at least, is twofold.
1. Increase in the price per AABB share.
2. Increase in the paper spot market price of gold.
Having paid attention to precious metals for the past 10+ years (long enough to have a grip on the industry), the past 6 - 12 months has gradually seen a decoupling of the paper Comex/ LBMA spot price versus the price of physical gold in hand (local coin dealer/ online bullion shop)…
… If the majority of the gold tied to the AABBG token is still in the ground, then they are not paying the roughly $1,900 per oz to mine it. Mining costs average in Mexico (I did the homework) average between $325/ oz to $700/ oz.. Let’s use the average, round number of these two and just say $500/ oz mining cost.. At a $1,900/ oz paper spot price, you would subtract the $500/ mining cost which would give the gold miner a $1,400/ oz profit on each ounce of gold they would mine. Gold is measured by troy ounces, which is about 31 grams per troy ounce..
Other “Gold-backed” crypts:
1 - PGMT is traded on only two exchanges. I've never hear of either of them. They're also not a miner, they are only a refiner. It doesn't look like they're available for purchase in the US. Only 916 PGMT tokens have ever been minted.
2 - DGX is also not available in the US and are only available on seven exchanges, six which I've never heard of. They only have 76,644 DGX tokens.
3 - PAX Gold is tied to the LBMA, another criminal enterprise along with the Comex. LBMA is part of the 500-1 paper to real physical gold ounce problem and, most likely, the gold that backs up the PAX doesn't exist.
4 - Tether Gold - Tether is the Federal Reserve of stable coins. Not backed up by anything and their tether "printing" has played a huge part in the recent crypto bull run. Tether says they're backed up by USD, but they highly likely only have a fraction on the cash on hand versus the amount of tether they're injected into the market.
5 - Meld Gold - I cannot find any info on this token, besides being more of a concept being built on the algorand blockchain. Token is not available for purchase.
Although it is always good to have some metal in hand for an emergency, (i recommend it highly, actually) a gold-backed crypto where the metal mined immediately goes straight to tokenization AND is able to be bought at spot price (I wouldn't mind if AABB even added at small percentage premium on top) is, in my mind, revolutionary... This is an operation and concept that has never existed, however is very attainable. The middle man is completely cut out of the Miner to End-Consumer process. The customer, without the hassle of paying high physical premiums and storing their own physical gold, can access real physical gold through a secure crypto token.
The company has the pieces in play:
1. the actual ERC-20 token on Ethereum.
2. Existing access through relationships in Asia (Asia big, bro — China, India — that’s like over 2B people).
3. Cash on hand.
4. Stake in existing mine(s) and access to real gold production.
Again, the token will be backed by the actual precious metal. Something the Comex, LBMA, the GLD ETF and the many other Gold-based derivatives which highly likely are not. They’re very close to being criminal operations, honestly.
SOBERING REALITY ALERT: The world paper gold market is said to be about a 300-500 to 1 paper ounce to physical ounce ratio.. Some even go as far as saying it’s over 1000-1 paper to physical. I’m not here for that debate, as there is good due diligence one can do themselves. I’ve been following precious metals for over ten years and, personally, I land on the more that 500-1..
***AABBG token will be backed by physical gold at 1:1... ONE TO ONE!!!
Think about how the Fed Reserve prints money out of thin air.. Think about fractional reserve banking (the process of lending where a bank only has to have a fraction of the paper money that gets lent out, which originally is printed out of thin air anyway, in their bank reserves).. Bitcoin, which I’m not against, is backed up simply by the idea of supply and demand, and its scarcity. And an idea 10+ years in the making. That’s it.
The company just recently put the AABBG website out.. I'm waiting to hear from them directly how this is all going to work. If they've been in the business so actually as to have sold a gold mine, I'm not too worried how the gold that will back up the token will be sourced. Ideally, it would already be in their possession. If they're basing it off of current bullion holdings as well as gold they have in the ground, I'm good with that. If they have substantial drill reports on the land they own and have under control... great.
The value, to me at least, is twofold.
1. Increase in the price per AABB share.
2. Increase in the paper spot market price of gold.
Having paid attention to precious metals for the past 10+ years (long enough to have a grip on the industry), the past 6 - 12 months has gradually seen a decoupling of the paper Comex/ LBMA spot price versus the price of physical gold in hand (local coin dealer/ online bullion shop)…
… If the majority of the gold tied to the AABBG token is still in the ground, then they are not paying the roughly $1,900 per oz to mine it. Mining costs average in Mexico (I did the homework) average between $325/ oz to $700/ oz.. Let’s use the average, round number of these two and just say $500/ oz mining cost.. At a $1,900/ oz paper spot price, you would subtract the $500/ mining cost which would give the gold miner a $1,400/ oz profit on each ounce of gold they would mine. Gold is measured by troy ounces, which is about 31 grams per troy ounce.
Although it is always good to have some metal in hand for an emergency, (i recommend it highly, actually) a gold-backed crypto where the metal mined immediately goes straight to tokenization AND is able to be bought at spot price (I wouldn't mind if AABB even added at small percentage premium on top) is, in my mind, revolutionary... This is an operation and concept that has never existed, however is very attainable. The middle man is completely cut out of the Miner to End-Consumer process. The customer, without the hassle of paying high physical premiums and storing their own physical gold, can access real physical gold through a secure crypto token.
The company has the pieces in play:
1. the actual ERC-20 token on Ethereum.
2. Existing access through relationships in Asia (Asia big, bro — China, India — that’s like over 2B people).
3. Cash on hand.
4. Stake in existing mine(s) and access to real gold production.
The company just recently put out the AABBG website.. I'm waiting to hear from them directly how this is all going to work. If they've been in the business so actually as to have sold a gold mine, I'm not too worried how the gold that will back up the token will be sourced. Ideally, it would already be in their possession. If they're basing it off of current bullion holdings as well as gold they have in the ground, I'm good with that. If they have substantial drill reports on the land they own and have under control... great.
The value, to me at least, is twofold.
1. Increase in the price per AABB share.
2. Increase in the paper spot market price of gold.
Having paid attention to precious metals for the past 10+ years (long enough to have a grip on the industry), the past 6 - 12 months has gradually seen a decoupling of the paper Comex/ LBMA spot price versus the price of physical gold in hand (local coin dealer/ online bullion shop)…
… If the majority of the gold tied to the AABBG token is still in the ground, then they are not paying the roughly $1,900 per oz to mine it. Mining costs average in Mexico (I did the homework) average between $325/ oz to $700/ oz.. Let’s use the average, round number of these two and just say $500/ oz mining cost.. At a $1,900/ oz paper spot price, you would subtract the $500/ mining cost which would give the gold miner a $1,400/ oz profit on each ounce of gold they would mine. Gold is measured by troy ounces, which is about 31 grams per troy ounce..
Although it is always good to have some metal in hand for an emergency, (i recommend it highly, actually) a gold-backed crypto where the metal mined immediately goes straight to tokenization AND is able to be bought at spot price (I wouldn't mind if AABB even added at small percentage premium on top) is, in my mind, revolutionary... This is an operation and concept that has never existed, however is very attainable. The middle man is completely cut out of the Miner to End-Consumer process. The customer, without the hassle of paying high physical premiums and storing their own physical gold, can access real physical gold through a secure crypto token.
The company has the pieces in play:
1. the actual ERC-20 token on Ethereum.
2. Existing access through relationships in Asia (Asia big, bro — China, India — that’s like over 2B people).
3. Cash on hand.
4. Stake in existing mine(s) and access to real gold production.
Again, the token will be backed by the actual precious metal. Something the Comex, LBMA, the GLD ETF and the many other Gold-based derivatives which highly likely are not. They’re very close to being criminal operations, honestly.
SOBERING REALITY ALERT: The world paper gold market is said to be about a 300-500 to 1 paper ounce to physical ounce ratio.. Some even go as far as saying it’s over 1000-1 paper to physical. I’m not here for that debate, as there is good due diligence one can do themselves. I’ve been following precious metals for over ten years and, personally, I land on the more that 500-1..
Think about how the Fed Reserve prints money out of thin air.. Think about fractional reserve banking (the process of lending where a bank only has to have a fraction of the paper money that gets lent out, which originally is printed out of thin air anyway, in their bank reserves).. Bitcoin, which I’m not against, is backed up simply by the idea of supply and demand, and its scarcity. And an idea 10+ years in the making. That’s it.
The company just put the website out yesterday (2/11 or 2/12/20.. I'm waiting to hear from them directly how this is all going to work. If they've been in the business so actually as to have sold a gold mine, I'm not too worried how the gold that will back up the token will be sourced. Ideally, it would already be in their possession. If they're basing it off of current bullion holdings as well as gold they have in the ground, I'm good with that. If they have substantial drill reports on the land they own and have under control... great.
The value, to me at least, is twofold.
1. Increase in the price per AABB share.
2. Increase in the paper spot market price of gold.
Having paid attention to precious metals for the past 10+ years (long enough to have a grip on the industry), the past 6 - 12 months has gradually seen a decoupling of the paper Comex/ LBMA spot price versus the price of physical gold in hand (local coin dealer/ online bullion shop)…
… If the majority of the gold tied to the AABBG token is still in the ground, then they are not paying the roughly $1,900 per oz to mine it. Mining costs average in Mexico (I did the homework) average between $325/ oz to $700/ oz.. Let’s use the average, round number of these two and just say $500/ oz mining cost.. At a $1,900/ oz paper spot price, you would subtract the $500/ mining cost which would give the gold miner a $1,400/ oz profit on each ounce of gold they would mine. Gold is measured by troy ounces, which is about 31 grams per troy ounce.. Not the 28.5 grams/ oz like all other materials, liquids, or for some of you, weed ;)
One would then wonder, “Well Beast, where then would that $1,400/ oz profit then go to?” Beast would then tell them, “Right to the bottom line of AABB… do you have any AABB?”.
Great post read, Alk
This sits very well with me, Tpsully
Email IR... they will give you an "answer"..
Bitcoin... make $$
Bitcoin Plays... make real $$$$$$$
This is insane!!
So much $$$ flowing into crypto right now.
BItcoin and Ethereum are blowing up right now... very fun to watch
I wonder if the engineers at the oil companies need to figure this calculation out... Poiseuille's Law Calculation.. Oil is a Newtonian fluid
http://hyperphysics.phy-astr.gsu.edu/hbase/ppois.html
Anyways.. just trying to do my math and see where I think the final financial value with AOT will end up. I need more ingredients lol.
Regarding KMI and the snails pace.. I don't believe they are looking at pinpoints of their pipelines, but the "infrastructure" as a whole.. this is not "plug and play", hence the our need to rely on Godspeed when looking at the KMI timeline.
Infrastructure.. Infrastructure
Very Fake News
Exactly...
http://www.usatoday.com/story/news/politics/2017/01/24/trump-signs-five-more-orders-pipelines-steel-and-environment/96988428/
Huuuuuuggeee!! Loving all of this winning..
Crazy Man!!
QS ---> Zinke ---> Trump...
I am not saying QS was discussed or has been discussed or in line to be discussed... but just the little shard of publicity, to me, is outstanding..
The uptick in the price has shown that not many people are selling.. glad I was able to gain some shares with day-trading the past few months, not much, but significant to me..
If Zinke OWNS stock, which I am sure he does, maybe our technology gets fast tracked on some levels.. or becomes sort of a mandate to lower the overall carbon footprint... (daydreaming of course..)
I've felt much better since I had a couple questions answered via email by IR.. quelled some of the anxieties.
Either way, I am truly looking forward to this year in more ways than one!
We're on Bloomberg!!!!
So are you throwing your hat in the ring as a potential CEO/ President replacement to GB?
Well.. they responded quickly letting me know that the next shareholders meeting details will be announced in a public filing when appropriate.
Just left a voice mail for the QS operator asking for a call back on when the next shareholder meeting is being held... doubt I get a call back.. never do.. just emailed them too. Will follow up on this board if/ ever get a response.
It's been over eighteen months since the "Malfeasance in Maui" on June 19th, 2015...
So It was 18 months ago today that the Malfeasance in Maui occurred... anyone have an idea of the next SHM? Do they have two years from the last one when they can hold it?
Can you post a link?
GB has got to go...
He got the company this far, but he is waaaaaaaaaaay over his head at this point.
The cowardice of the "online - one way" SHM is BS...
I'll take bets that he does not even address the share price. We are the pee-on's in his world...
GB - you've gotta go!!
Hopefully this latest 10-q serves as the post-mortem to Gregg's tenure...
This really has become that kind of "show"..... lead by the cowardice of the CEO who cannot come out from behind the curtain and address shareholders...
I would expect him to be on very short leash with his time expected to be running out...
Multiple millions of shares being purchased... no private offering either. Hope you got in, Pal...
Really?.... 580k sitting on the bid..
Something must be up
Gregg's gotta go!!
This company needs a well established Good Ol' Boy from the oil industry that already knows who he is...
The SHM, I'm sensing, will be Maui 2.0...
Cool... thank you ZS!!
How would we know if those shares are shares "sold short" or just covers?
That's ballsy if they're shorting at .10
Smile AOT Works,
I sure as heck hope so, partner...