Post
Topic
Board Project Development
Re: New crypto-currency Beertokens and it's Exchange
by
hugolp
on 13/07/2011, 17:47:18 UTC
TierNolan is correct with 100% backing you can hold the price of anything at any price.  The one fault in his statement is that we don't really plan to hold beer we just hold assets of USD or ERO or treasuries and bonds in many different currencies in many different countries and many different banks to keep the possibilities of any one country or bank or entity from being able to lock us out of any or all of our assets.  We just base the value on the commodity of beer to make it clear to the holders of "The Trust" the value of what they hold for each share.  so we don't have a problem with aging or storage.  what you may not even realize is that 90% or more of the world banks only hold 10% or less of the outstanding debt of there depositors.  We have no plan to be as unstable as any of the known banks.   Remember we have unlimited supply, we can sell as many shares as the market can bare and we can and will buy back any outstanding shares the market wishes to cash out to any degree needed to keep liquidity constant.

Ok, so you are basically a 100% reserve bank of whatever currencies you decide to hold. But the question now is: whats the point? Why would I want to use your currency instead of euros if I know they are the "same? And what do you get of all this and how do I know you will stay honest?