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 holdings > > for each currency, > > That is what Viking proposed. > Actually I was trying to take his idea a bit further, when I suggested that he was in effect proposing to set up a reserve bank of sorts. After that I went on to show the weaknesses of both systems, first the one he proposed and the the one I suggested he would need to use to make it workable. > The simple proposal was that there would always be a 1:1 ratio of > gold to comgold, but a user would need to take pot luck when redeeming... > > In other words, if you wish to redeem 40g of comgold, and there is > say 30g of e-gold in the system, and 20g of Pecunix and 10g of > e-bullion etc, you are out of luck if you want it all in e-gold, you > would need to take the 30g in e-gold and the balance in one of the > others... > I do see the benefit for users in a system that allows frictionless exchange between currencies and an ueber-currency (comgold) used to make it easier for people to trade with each other. But I fail to see the benefit of using a system in which redeemability for the currency of my choice is not garanteed.
After all, if the redeemability is subject to availability, then everyone might as well use the US Dollar and then exchange the US Dollar for the IG currency of his or her choice? I do like any concept that makes things easier and improves on current systems, but I doubt that anything that would further complicate and confuse users who simply want to buy and sell 'stuff' would find many takers... But that is just my view and I might be wrong. Is n´´known to have happened before ;o) Cheers, Robert. budget & privacy website hosting http://www.cyberfrontier.net start a profitable online business http://www.cyberfrontier.biz budget domain registrations http://www.u2planet.com --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
