Post
Topic
Board Economics
Re: Do you need cash for everyday use?
by
NeuroticFish
on 26/03/2019, 07:13:18 UTC
We are working on Golden Currency project ( https://goldencurrency.money ), where we issue money that is available both in crypto and in cash form. We find the possibility to use crypto money in cash form as one of advantages. We expect that almost everybody anyway uses cash and in such a case the lack of such opportunity limits the potential use of currency. That's why we started the poll to prove it. Would be glad for your votes and comments regarding your view on such an option.

I've checked your website a little.

You'll issue paper money? I see no use for that and the governments may not like the idea. That field is their monopoly.
Your coin price will be pegged to gold price and you'll hold gold for that? You'll need audits for that and you'll have to build up trust. It's a tough job, but can be done. And you need it badly, because somehow the "gold backed" ICO projects tend to end up as scams (except one, I think).

You wanted my opinion and you won't like it.
Imho you don't bring anything new which is useful. The only "new" thing you bring is that paper money. Good luck getting merchants accept that.

What we need is getting the merchants accept crypto as payment, either by wallet-to-wallet payments, either via payment processors that accept crypto.