Dear JP,
(ONE) say the system is 1/3 each of egold, pecunix, and goldmoney.
Say pecunix totally evaporates. What would happen is that each user
loses one third of their conglomerated-gold. (Sucks, but better than
losing it all.)
Wouldn't it be clever to insure against such a disaster?
Then the
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Dear JP,
Often at 1mdc people say well, 1mdc is based on e-gold, but no fees
- could you also make one that is based on goldmoney, but no fees?
So that would be fair enough, you could have a 1mdc based on egold,
goldmoney, pecunix or whatever.
Goldmoney will not permit such a currency because
I remember me suggesting almost this same idea about a year and a half
ago...
http://www.mail-archive.com/[EMAIL PROTECTED]/msg09415.html
Check out the archives.. it might help the current discussion.
Khurram Khan
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Sidd,
Untrue... 1g e-gold has ALWAYS been = to 1g Pecunix...
Try it for yourself http://open2exchange.com/buy.sell...c2c
What about the transaction fees on the deposit at pecinux?
I think you have misunderstood Viking completely...
Hence there has to be actual proof of the gold
In fact, the mere existence of an independent reserve bank preempts the use
of fiat, if you want to insist on proper term usage.
So modify the term for proper current usage, which happens on a
regular/continual basis, by removing any mention of 'government'.
Fiat money = any
Robert B.Z. wrote:
Sidd,
Untrue... 1g e-gold has ALWAYS been = to 1g Pecunix...
Try it for yourself http://open2exchange.com/buy.sell...c2c
What about the transaction fees on the deposit at pecinux?
It's free... Pecunix has a policy of offering preferred transaction
rates to certain larger
Dear Viking Coder,
snip
Or... Is the following statement not true?
1g e-gold = 1g pecunix = 1g e-bullion = 1g goldmoney
The gold price per gram is different for e-gold
and e-bullion while Pecunix and GoldMoney use the same price but
are different again.
Here is a snap shot of the current gold
How would such a conglomerated gold currency be a fiat currency?
Sorry about the term abuse. I often use fiat incorrectly because of the
insecurities it implies and because I want to differenciate from other
digital currencies.
While my idea of fiat is not necessarily correct I do assess it
Robert,
Robert B.Z. wrote:
1g e-gold = 1g pecunix = 1g e-bullion = 1g goldmoney
No it is untrue on two counts:
(1) 1g e-gold = (1g sth else - minus exchange fees)
Untrue... 1g e-gold has ALWAYS been = to 1g Pecunix...
Try it for yourself http://open2exchange.com/buy.sell...c2c
Likewise for
You exchange 100g of e-gold for 100g of comgold. Those 100g of comgold
aren't guaranteed to be redeemable for e-gold, but are guaranteed to be
redeemable for 100g total of any of the currently underlying GBCs (17g
pecunix, 13g goldmoney, 16g e-bullion, 14g 1mdc, 40g e-gold) due to the
flux of
Hi Robert,
And I believe that most 'consumers' have similar
views. e-gold ruley supreme - other currencies are great because one can
exchange them into e-gold, but e-gold is what people buy and spend the
most.
Yes, e-gold is great! Because I can instantly change it into Pecunix at
You are essentially talking about an electronic reserve bank that issues
fiat currency, based on supply and demand, yes?
How would such a conglomerated gold currency be a fiat currency?
Individual currencies (e-gold, pecunix, etc...) aren't considered fiat.
1mdc isn't considered fiat. Why then
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