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 all the others...
> Either way, I think the main concerns are not two words I used and > their dictionary meanings, but the fact that for 1g comgold to be
> redeemable for gold, you need to look at it as 100/100g comgold
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.
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...
There is no fractional system...
Regards,
Sidd.
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