American Creek Resources Ltd ACKRF

This bothers me

[fordster]

...and it would stand in the way of me buying a token....

"The exact amount of gold backing each Nugget Trap Gold (NGT) token by Cunningham Mining isn’t specified in terms of a fixed weight of gold per token. Instead, the tokens are backed by a combination of in-ground gold assets and physical gold from the Nugget Trap Placer Claim. This means the value of each token is tied to the overall value of these gold assets rather than a specific quantity of gold per token."

...It's as silly as having a token backed by the dollar as it voids out its security purpose. Cunninghams token is like buying a stock that can be diluted out.

If I'm wrong, please educate me as I'm more than willing to learn. I'm really hoping this falls through...but will be at peace if it happens.

[Jetstream1281]

Yes....it's no different as far as I can tell....they can dilute it out in order to purchase more properties or develop their properties further....or not....I don't really understand it either.... But from the information I've gathered confidence is high that the deal WILL in fact go through.....we should have a good idea pretty quickly here...

[Jetstream1281]

That's assuming they get their 2/3 support....

[fordster]

JS...isn't GLD backed by 1/10 oz gold? That's the proper way to offer security. Krammers video was (as always) awesome. Everyone should take the time to watch it....30% of the population is into Bitcoin according to ES. and nobody is into gold. How silly is that?...ES looking good BTW.

[garzillalives]

It IS just like buying a stock. As I said many weeks ago, it's Smoke and Mirrors. The tokens are just a way to get crypto speculators involved in mining ventures. If the tokens were backed by actual gold, their value would or should go up and down with the value of gold. You might as well just by gold. We're going to be paid in cash. Whether the tokens sink or swim, only the future will

[BigValuehunter]

Hi Mr. Fordster, I just glanced through the White Paper.  You are correct. Cunningham can dilute at their whim and there is no clear cut formula on what  gold is backing token. But you know what is even worse? Cunningham has diluted the token already!  They issued themselves 810 million tokens and antoher 90 million to Cunningham Natural resources! Whaat? So if they succeed in

[Signman]

Ford, I posted this on CEO recently related to your thoughts here :   If is goes through .. it goes through and I get paid from Cunningham. I am in the wait camp though. But I just can't shake the feeling I get from this "tokenization" that it goes against the very reason I became a stacker in the first place. It's the same feeling when I see bitcoin constantly using a

[BigValuehunter]

Signman, I hear you.  The White Paper is mostly cut and paste including a list of gold back crypto/tokens already out there which are listed.  Most are quite small.  I think the biggest is Tether Gold at $460 milion market cap (for those that dont know, Tethe is the USD backed cryto - masive),  Cunningham kind of blows them all off as boring. I wonder why?? ANy concerns about

[BigValuehunter]

Signman, Pax gold is the largest gold backed crypto at $650 million (but appears to be really closer to $500 milion according to coinbase), my bad.  Backed by one oz of Au.  Trades VERY tight with Au.  You know why it trades very tight with Au?  Cuz the creators did NOT issue themselves 90% of the coins, with no cash or tangible consideration in return, when they launched the

[Signman]

You are pretty tone deaf BigValueLarry. Nice try.. not selling a share of my AMK