E-gold allows payments of one ten-thousandth of a gram (four digits to the
right of the decimal place)
E-gold's minimum spend is 0.01 ounces. This equals 0.000311 grams.
However, since all three currency systems presently require a human to enter
the account number and password for
On 13 Apr 2001, at 6:29, Viking Coder wrote:
I don't understand why it's a bad thing to allow a 100% backed currency to
be used as the basis for a fractional reserve banking system.
Because you introduce a new risk. The unit of account of the new digital
currency system is then no longer
I don't understand why it's a bad thing to allow a 100% backed
currency to be used as the basis for a fractional reserve banking
system.
Because you introduce a new risk. The unit of account of the new digital
currency system is then no longer backed 100% by an hard asset (gold) as
On 13 Apr 2001, at 6:29, Viking Coder wrote:
I don't understand why it's a bad thing to allow a 100% backed currency to
be used as the basis for a fractional reserve banking system.
Because you introduce a new risk. The unit of account of the new digital
currency system is then no
It doesn't matter what people do with the currency. As long as the metal
in the vault equals, or exceeds, the metal in circulation, the currency is
100% backed.
Agreed. But if e-gold itself goes on a fractional reserve system,
then there is a risk for e-gold users.
Claude
However,
On 13 Apr 2001, at 6:29, Viking Coder wrote:
I don't understand why it's a bad thing to allow a 100% backed
currency to
be used as the basis for a fractional reserve banking system.
Then Claude wrote:
Because you introduce a new risk. The unit of account of the new
digital
currency
