Nov 052017
GreenFire Engineered Reclamation Offers The World’s First Reclamation Cryptocurrency GreenFire Engineered Reclamation is a Global Landfill Mining and Reclamation Company and is issuing a Pre-ICO to raise funds for the development of our Reclamation Coin. Our coin is the only cryptocurrency in the world dedicated to Global Reclamation. GreenFire Engineered Reclamation Global Landfill Mining and Reclamation Coin is the Global Gold Concerns – GGC. The GGC Coin Pre-ICO Sale is hosted at Small Gold Token – SGT – is the Pre-ICO fund raiser for Global Gold Concerns – GGC – and is a redeemable/convertible token. GreenFire has staked 100,000 Grams of gold for this Pre-ICO represented by an issue of 100,000 SGT Tokens. The SGT Token is redeemable for one gram of 999.9 pure Gold produced from contracted mining operations. OR Each SGT Token may be exchanged for GGC at a rate of 100:1. In other words Each SGT can be exchanged for 100 GGC during the boot strap phase. Global Gold Concerns is the host of the ICO for GGC, a gold and asset backed cryptocurrency, developed on the Ethereum blockchain. GGC is a reclamation coin. GGC ICO projected price is $1.00 GGC is backed with hard assets from: The precious metals reclaimed from the Landfill Reclamation Precious metals reclaimed from the reclamation of mine tailings Pledges of Gold from associated Gold Mines. Real Estate A portfolio of Cryptocurrencies: bitcoin, bitcoincash, ethereum … GGC is a hedged and balanced cryptocurrency investment. Papers: Coming Soon Executive summary for Co. Whitepaper for GGC Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
Oct 312017
The Blockchain technology enables tokenization of gold. Investors consider precious metals and cryptocurrencies as substitutes, as the value of both asset classes depends on the level of faith in the national fiat currencies. However, a few cryptocurrencies backed by gold exist, potentially creating financial ecosystems. (a complete list of gold-backed cryptocurrencies is here). The main advantage of gold-backed tokens compared to other cryptocurrencies is that they reduce the exposure to downside risk, as investors can exchange these tokens for gold. Hence, investors should not lose all their money in the case of a market crash, as the value of bullion serves as the floor price (the price of gold-backed cryptocurrency is always at least equal to the spot price of gold). And when compared to investing in physical bullion, gold-backed tokens offer higher comfort of trading. However, there are also drawbacks. Investors have to pay premiums over the spot gold price in order to cover the companies expenses. Mitigating The Risk Addressing counter party risk, all transactions are accompanied by a legally binding international multi signature smart contract minimizing exposure to any financial risk that might exist. The risk resulting from third-party participation and the usual fact that someone has to store the gold somewhere and promise to exchange tokens for the underlying metal, that risk is removed. The reason, the gold is mined from our own mines. We do the refining and minting. When redeemed, the gold is shipped by trusted and insured courier, like FedEx. And we are completely transparent about it. The Bottom Line Is, tokenization of gold is on the rise. This is good news for the precious metals market, as it will increase demand for gold. And the whole idea of gold-backed tokens is fascinating, it will revolutionize gold trading . Although there are some synergies, the marriage between cryptocurrencies and precious metals will not be quick and easy. Some doubts remain: cryptocurrencies are decentralized, while gold must be stored by some central authority. And why should investors buy gold-backed cryptocurrencies and pay a premium, just to have tokens convertible to gold for a fixed weight of Gold. One answer is that Small Gold Tokens are convertible to the one gram it represented at the time of purchase when they are exchanged regardless of the spot price. Another consideration is the trading capability of the coin itself. Cryptocurrency is recording increasing levels of market cap (more…)
Aug 112017
The silly season continues. Speculators are piling into the cryptocurrency space in the hopes of–sometimes very literally–making money fast. As I write this Ethereum’s value has halved since June but is still 20x since January. Litecoin is up 12x since then. Even Bitcoin has tripled, again. It seems like everyone now has an opinion on, and a position in, cryptocurrencies. View image on Twitter    Follow Adam Ludwin @adamludwin  is now more popular than      And hey, if you want to speculate, and casinos seem too sedate and controlled to you, then more power to you, jump right in. But for those of us who are interested in the technology, not the money — who think that blockchains are primarily interesting because, unlike most modern technology, they decentralize power — so far this has actually been a mostly disheartening year. This has been the year of the ICO, in which an astonishing amount of money has been raised by the issuance of new cryptocurrencies in exchange for existing ones, the value of which is then inevitably measured in… US dollars, which says something. Tezos, which is basically “a more flexible Ethereum” (just as Ethereum was, to vastly oversimplify, “a more flexible Bitcoin”) raised ~$230 million. Bancor, which “enables anyone to create a new type of cryptocurrency,” raised ~$150 million. Status, “an open source messaging platform and mobile browser to interact with decentralized applications that run on the Ethereum Network,” raised $95 million. TenX, “Making Cryptocurrencies Spendable Anytime Anywhere,” raised ~$80 million. Do you notice anything that these massive fundraises have in common? That’s right; they’re projects which benefit cryptocurrencies which manipulate and/or hope to supersede other cryptocurrencies. Much, if not most, of the big-money high-profile ICOs this year have been self-referential Crypto Inception. They’re built on the (often unquestioned) assumption that decentralized blockchain apps will be widespread and enormously valuable, and therefore, blockchain tooling and infrastructure will be as well. That implicit assumption sounds nice; it even sounds plausible, if you squint the right way and accept a few uncomfortable assumptions; but — uh — tooling and infrastructure for what, exactly? Bitcoin has fought its way into a valuable and important niche as a widely recognized, fairly widely used, decentralized currency and alternative to gold, which is remarkable… although as pointed out by Adam Back, CEO of Blockstream, crypto OG, and generally extremely perspicacious guy, the rise of other cryptocurrencies is arguably a threat to the whole notion of blockchains-as-currency. When (more…)