Post
Topic
Board Announcements (Altcoins)
Re: [LNK] [Ethereum.link] | Linking Desk | Flexible Market Connector | Coinexchange
by
solarjake
on 24/01/2018, 00:47:31 UTC
Hi Deja, just a quick question.

You wrote this earlier in response to a question:

Quote
a currency that will be 1-1 backed with one gram of silver.

So does that mean that one LNK will be back with one gram of silver? Is it not an issue that 1 gram of silver currently = $0.53 whereas 1 LNK token = $99.97?

How can the tokens be backed when the thing backing them is worth 1/200 of their value? Or am misunderstanding this?

Also, how does this work when redeeming LNK tokens for silver? Say if I redeem 100 LNK tokens does that mean you will send me an equal value of silver, so currently that would be $9,997 (about 20kg of silver)?

Thanks!