Ninjastic
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Board Altcoin Discussion
Re: Diamond Backed Stablecoin
by
FairUser
on 05/05/2020, 04:35:54 UTC
Quote from: DigitalDiamond on May 04, 2020, 05:58:25 PM
Quote from: Chlotide on May 04, 2020, 05:48:54 PM
Diamonds are "measured" in CARATS first of all. Usually 1 gram is equivalent to 5 carats. And a 5 carat diamond can be worth between $100 - $100k depending on color, quality, clarity etc.
I really don't see how you can call this "STABLE".
Talking about "backed by diamonds" ... how many grams do you have to back your coin?  Roll Eyes

Value is that of a 1 gram (5 carat), UNCUT diamond, which is around 100$. So far i have 50 grams of diamond.

Thank you for your opinion.
So you are the owner of this project, and only have 50 grams of diamonds, and that total will be $ 5k. With $ 5k, I believe that you cannot operate your project, you need at least $ 500k or more for the project to work properly and attract investors.