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Goldfinx x satoshi club ama session 24 dec 2020

Hello, Satoshi clubbers and guests of this site, let’s learn for earn.

Gold has always been considered an eternal value. Today we want to present a project that thanks to decentralized finance empowering artisanal gold mining.

They provide adequate capital to Artisanal Gold Mines worldwide while helping them to employ socially conscious and sustainable mining methods that reduce the negative impact on the surrounding ecological systems.

The plan of AMA session:

  1. Part?—?Introduction and preselected questions.
  2. Part?—?Live questions
  3. The Quiz about Royal finance

The reward pool is 500$

Leading the AMA our clever and fun admins:

Gold Rocket | Satoshi Club and Luis Merino

| Satoshi Club

The Representative of the project:

Philippe Bednarek?—[email protected]

The CEO of GoldFinX and the founder of Atlas Group of Companies, a private equity firm investing in technology since 1995!

Introduction of GoldFinX project

 

Luis Merino

| Satoshi Club:

Hello SatoshiClubbers! Welcome to another AMA with us. Christmas Eve one

@PhilippeBednarek welcome!!

Gold Rocket | Satoshi Club:

Good evening dear Satoshi Club!

Philippe Bednarek:

Hello everyone! I am glad to be with you!

Gold Rocket | Satoshi Club:

Hello! Merry Christmas

Thanks for joining

Luis Merino

| Satoshi Club:

Merry Christmas everyone

Gold Rocket | Satoshi Club:

Please tell us a bit about yourself. How did you develop in crypto? And also about your project. What is Goldfinx? @PhilippeBednarek

Philippe Bednarek:

I am the CEO of GoldFinX but also the founder of Atlas Group of Companies, a private equity firm investing in technology since 1995!

Luis Merino

| Satoshi Club:

Interesting!!

Philippe Bednarek:

The group came to crypto as an investor in 2016

Gold Rocket | Satoshi Club:

Amazing road to crypto!

Philippe Bednarek:

We were also investing in Gold (trading trackers etc..)

Luis Merino

| Satoshi Club:

@GoldRocket27 likes this

Philippe Bednarek:

I personally know gold very well, trading it and more importantly sourcing for 15 years

Gold Rocket | Satoshi Club:

Yes. gold rules the world!

Philippe Bednarek:

But I noticed that something was wrong in this market, 80% of the world’s production is done by major listed companies without any financing problems.

Gold Rocket | Satoshi Club:

So what is this your crypto gold? GOLDFINX.

Luis Merino

| Satoshi Club:

15 years! That’s a lot.

Philippe Bednarek:

20% is extracted by miners with rudimentary tools without any access to capital.

Gold Rocket | Satoshi Club:

I read you finance small gold mines. Am I understanding the project concept correctly?

Philippe Bednarek:

Yes, we focus on artisanal mines which have huge potential but no money to extract it.

Gold Rocket | Satoshi Club:

I think this is a very promising direction!

Do you want to add something? Or can we move on to community questions?

Luis Merino

| Satoshi Club:

That’s great

Philippe Bednarek:

Think about it: most of these miners are using the same way to extract gold than a thousand years ago! If you give them the equipment they produce X10 times more. This is a very simple business model: We finance and we get 20% of the total production for the lifetime of the mine.

I am ready to answer your questions!

Gold Rocket | Satoshi Club:

Besides, this is social assistance for the miners, I think.

Luis Merino

| Satoshi Club:

Love the idea behind everything

Philippe Bednarek:

The social and environmental impact of what we do is the essence of GoldFinX

Luis Merino

| Satoshi Club:

Let’s go then

Preselected questions about the GoldFinX DeFi project.

 

Gold Rocket | Satoshi Club:

Q1 from Telegram user @Pratze

GoldFinX project has a token that backed by the real Gold or backed by a real operating mine, So do you have your own operating gold mine? What is GoldFinX specialty than other stable coins or tokens which back by real gold?

Philippe Bednarek:

We are not operating gold mines, we finance them and we get a share of 20% of their production for the lifetime of the mines (usually between 15 to 20 years).

The main difference with stable coins backed by gold is that we are not raising money to back our coin, we raise money to finance gold mines which deliver us gold accumulating in our Reserve backing the coin.

So in our case, the underlying asset is growing and not stable. I hope I answer your question Pratze.

Gold Rocket | Satoshi Club:

Yes, your answer is clear! Thank you! How big is your team?

Luis Merino

| Satoshi Club:

Clear answer!

Philippe Bednarek:

We are 27 in total, a mix of crypto and mining profiles, all ages, and 10 nationalities!

Luis Merino

| Satoshi Club:

Not a small one

Gold Rocket | Satoshi Club:

27 my favorite number

Philippe Bednarek:

We will be 40 next year-end as we expand our mining reach to Canada and Bolivia.

Gold Rocket | Satoshi Club:

I just wanted to ask in which countries your mines are located

Philippe Bednarek:

Today we have 3 mines financed in Ivory Coast, we are now expanding in Bolivia and Canada (Yukon and Quebec)

Luis Merino

| Satoshi Club:

And GOLDfinX…this is your AMA

Gold Rocket | Satoshi Club:

I love it

Luis Merino

| Satoshi Club:

Can we jump to the next question?

Philippe Bednarek:

Sure!

Gold Rocket | Satoshi Club:

Q2 from Telegram user @reinleoken

Most people in the crypto are of the opinion that storing of value in gold is antiquated, it’s almost like gold vs crypto. How certain are you that your platform would bridge the gap between these opposite factions? And what happens if the value of gold drops, does that mean the value of GiX drops? And lastly, over the years we have seen crypto increase value a lot more than gold, how do you convince folks to buy a token backed by gold when Bitcoin itself is projected to give better returns on investment?

Gold Rocket | Satoshi Club:

Sounds good

Philippe Bednarek:

First, I think gold and crypto will coexist and are not necessary “opposite factions”. Same as debt and equity coexist and sometimes are combined ( as in convertible bonds i.e), I strongly believe there is a huge opportunity for this bridge between crypto and gold.

Your 2nd question about value: yes a gold price drop could affect the value of the GiX, but remember it is an ever-growing asset in volume. Every month, sometimes weekly, we receive a shipment of gold that accumulates in the Reserve.

Finally about Bitcoin: I am a big believer in BTC and compulsive HODLER! but I think portfolio diversification is always a good rule. And a special coin like GiX has its place in an investment strategy.

Luis Merino

| Satoshi Club:

Portfolio diversification is essential in crypto

Gold Rocket | Satoshi Club:

By the way! please share your tokenomics?

Philippe Bednarek:

We are very transparent in our data: We raised 15,871,000 Euros so far. We have 18,103,766 GiX circulating + 5,000,000 GiX for the team and contributors locked up for 5 years.

Gold Rocket | Satoshi Club:

“Diversification is always a good rule” as you rightly said .. besides, BTC is also gold in some way

Luis Merino

| Satoshi Club:

Gold Rocket | Satoshi Club:

Everything is clear to me

thanks! Can we proceed to the next question?

Philippe Bednarek:

Yes!

Gold Rocket | Satoshi Club:

Q3 from Telegram user @victorogb

My question is quite simple, Why focus solely on Gold when there are other precious metals and minerals mined around the world which need the same environmental preservation and best mining practices?

Philippe Bednarek:

You are right but we cannot do everything. The Artisanal gold mining is the cause of 1 million tons of mercury released every year in the rivers and oceans (to produce 600 tons of gold !). 40% of the mercury in the oceans comes from this activity…

Gold Rocket | Satoshi Club:

Your opinion, can this be somehow changed for the better?

Philippe Bednarek:

Yes, there are many NGO working on it but they take the problem on the wrong side. We think access to capital, efficiency, and productivity is the solution. If miners are barely surviving from their work they will continue to use mercury. Mechanization prevents the use of mercury, but it is costly. They cannot afford the investment, this is where we come in.

Gold Rocket | Satoshi Club:

Thank you very much for taking care of this.

Luis Merino

| Satoshi Club:

Q4?? Or do you have something to add?

Philippe Bednarek:

Just to say GoldFinX is not a charity, it is a profitable business but its social and environmental impact is immense. Our motto: Do good, Receive Good!

I am ready for the next question!

Gold Rocket | Satoshi Club:

Great motto!

Q4 from Telegram user @Garrinepotter

Coinmarketcap and CoinGecko provide different data on the total supply of the token. After checking the contract address, I made sure that the data on CoinGecko is correct. But if it is easy to verify, then there are points that I would like to clarify. Trackers do not show the number of circulating tokens. And I did not find any data on the tokenomics. Considering that the first private sale was back in 2018, I would like to know more about how many tokens are in circulation, which funds own them, maybe there are some blocked tokens … Partially answered.

Philippe Bednarek:

Yes, I think I did.

Luis Merino

| Satoshi Club:

Exactly

Philippe Bednarek:

Just to add: We have no whales in our coin holders database.

Gold Rocket | Satoshi Club:

I understood you! Thank you! please share some useful links for our community. For example, where can I buy a token? What exchanges?

Perhaps you want to add something? For Harry Potter

@Garrinepotter

Luis Merino

| Satoshi Club:

Philippe Bednarek:

Last word: we have a loyal coin holder ownership, they are with us for profit but also for a purpose

Philippe Bednarek:

The GiX is listed on Bitmart and Coinsbit. We have also an OTC desk on www.goldfinx.com

Gold Rocket | Satoshi Club:

Thank you! Ready for a new question?

Luis Merino

| Satoshi Club:

And do you plan to add other exchanges?

Philippe Bednarek:

Yes, we are talking to Huobi and Binance, they love our “impact coin” proposal. Our GiX is really a different asset. But we take our time and focus on the execution of the business plan

Luis Merino

| Satoshi Club:

Really looking forward to GiX listing in those huge exchanges

Gold Rocket | Satoshi Club:

Btw, while studying your site, I noticed that you have a mint function in the contract. tell me please what is its purpose? @PhilippeBednarek Are you planning to increase the total supply of your tokens?

Philippe Bednarek:

Yes we are still raising money because more money means more mines to finance, and more mines means more gold to back the GiX, and its intrinsic value increases. The total minted is 300m.

Gold Rocket | Satoshi Club:

Thank you! ready to jump to the next question?

Philippe Bednarek:

Ok!

Gold Rocket | Satoshi Club:

Q5 from Telegram user @leixagarcia

I want to confess that your project has moved me a lot… I am Venezuelan, specifically from one of the States or Provinces richest in gold and I have lived face to face all the consequences that are the product of bad planning in the exploitation of gold. I can make you the long tragic story, but just by telling you that this site is the biggest focus of Malaria in the whole country, I think it is more than enough.

My question is this: How does GoldFinX promise to solve this terrible problem of Malaria? I know it is only one problem among many, but believe me when I tell you that this disease causes hundreds of deaths every month in Venezuela.

Luis Merino

| Satoshi Club:

I like this one

Philippe Bednarek:

Malaria is a tragic problem and many NGOs (like Gates Foundation) are trying to tackle this problem.

Philippe Bednarek:

Our action is focused on the Gold miner’s community, our social impact improves the living conditions in increasing the revenues of the community. The access to potable water and health structure has an indirect effect on the Malaria problem. But is modest compared to the situation and again we are more dedicated to mercury eradication. I appreciate your concern @leixgarcia

Gold Rocket | Satoshi Club:

Thanks for taking care of the environment!

Philippe Bednarek:

We have a great Ambassador program for those who want to spread the gospel!

https://goldfinx.com/ambassador/

Gold Rocket | Satoshi Club:

Luis Merino

| Satoshi Club:

Our community will be interested in this for sure. Many of them will apply for it.

Gold Rocket | Satoshi Club:

Can we proceed to the last question of this part?

Q6 from Telegram user @antoni_azx

What happens if a contract mining agreement is violated and you have already supported the operations with engineering, technology, strategies, and more? What will be the paper of the GiX coin in this supposal and how affects it?

Philippe Bednarek:

Good question, First, we have our people on the ground overseeing the operations on a daily basis. Second, we have a lien on all equipment, it is released only when we get our money back. Three: The equipment is equipped with trackers and remote kill switches.

Gold Rocket | Satoshi Club:

Reasonable!

Philippe Bednarek:

More important: it is not a debtor/creditor relationship but rather a partnership.

Gold Rocket | Satoshi Club:

Thanks for your answers! Are you ready for the live part ???

Philippe Bednarek:

Can’t wait!

Luis Merino

| Satoshi Club:

A bunch of questions is approaching

Gold Rocket | Satoshi Club:

@LuisMe7

shoot!

Luis Merino

| Satoshi Club:

Dear community, we will open the chat in 30 secs for 2 minutes!! Ready…Steady…GOOO!!

PART 2.Questions about the GoldFinX project from the live chat of the telegram community.

 

In this part, we open a chat for the crypto community for 100 seconds. Then the guests from the GoldFinX crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q?—?1 from a telegram user @K2ice

Why did GoldFinX decided to finance a mine in Canada knowing fully well that the region is not an impoverished region?

Philippe Bednarek:

Native tribes in Canada are barely living from their gold mining activities.

Q?—?2 from a telegram user @Jinsungkay

How was the project affected by the Covid 19 outbreak? Did it lead to a change in your roadmap? Thx.

Philippe Bednarek:

Yes, we were supposed to already deployed in Bolivia. Instead, we chose to finance more mines in Ivory Coast where we have a team, a local headquarter, and a lab.

Q?—?3 from a telegram user @MCBTrade

Many projects focus solely on selling tokens rather than making a real contribution to the blockchain world. Will GoldFinX really fix a problem?

Philippe Bednarek:

We are not fixing a blockchain problem, we are fixing a real-world problem with blockchain. Before our initiative, nobody in the traditional finance world cared about gold miners in the jungle and the 600,000 working children intoxicated by mercury. Crypto gave the opportunity to do something good for them, for the planet, and for the coin holders.

Q?—?4 from a telegram user @feranno

Are there any big updates that you would like to announce or have planned that we should look out for?

Philippe Bednarek:

We are working with United Nations agencies who support our initiative! Big announcement for Q1

Q?—?5 from a telegram user @KASG95

Really how far can GoldFinX go? only get 20% royalties? or are there really many more projects that you want to develop?

Philippe Bednarek:

A long term deal must be a fair deal. We are not predators. We could ask for 30 or 40% but for how long it will last? We have more than 50 mines in our Due Diligence pipeline in Africa, South America, and Canada.

Q?—?6 from a telegram user @ronaldo_super

To extract gold from the ground, cyanide is required and it is really deadly to people. Do you have plans to overcome this problem?

Philippe Bednarek:

Sorry, but you don’t need Mercury and Cyanide to extract gold. Good equipment using gravity does the job but it is expensive.

Q?—?7 from a telegram user @lzamg

GoldFinX has been out there for a few years now. Can you tell us about the development of the project in the past few years? What have been the most important achievements until now? What would you say is the event or events that have made a difference in the growth of GoldFinX?

Philippe Bednarek:

GoldFinX is a 2.5 years old company. We raised 18m, we have a database of 400 mines worldwide, 50 mines passed the due diligence. We have a team of developers, geologists, engineers, financiers, lawyers. 3 mines are operating in Ivory Coast, 2 more next year in Bolivia and Canada, will produce 500k of pure gold in 2021.

Q?—?8 from a telegram @lchongthu

Can you tell me what is no store for long term investors?

Philippe Bednarek:

We have an OTC desk offering great discounts against a one year lock-up.

Q?—?9 from a telegram user @Ferhat553

Tell me its 3 unique features that your competitor doesn’t have?

How will people attract Your project?

Philippe Bednarek:

We don’t see much competition. Most of the gold-backed coins are stable coins with not much upside to expect unless the gold prices continues to increase. Some projects are using crypto to finance one big operating mine. But I don’t know any coin financing many artisanal mines and therefore having much impact on the lives and on the environment.

Q -10 from a telegram user @testercoin

Why do you think this idea is better than just tokenize the gold?

Philippe Bednarek:

Tokenizing the gold doesn’t create any wealth. Gold certificates exist for centuries, Tokenizing is just the digitalization of an asset. What we do is totally different: we help to create wealth by giving access to capital to a deprived industry.

Part 3?—?Quiz about project

 

In the final part, we would like to check your knowledge in terms of the GoldFinX project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.

Our contacts for more details:

English Telegram group | Russian Telegram group | Spanish Telegram group | Telegram Channel | Twitter | Website

Our Crypto Partner by this AMA: GoldFinX

Telegram group | Facebook | Tweeter | Website | LinkedInn

 

 
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