1. Regarding the macro and micro factors, it's essential to consider both savings and investment perspectives when discussing the stability of currencies. While it's true that gold prices can fluctuate, it has historically maintained its value better than fiat or cryptocurrencies. The USD, for example, has faced significant inflation and devaluation over time, making it less reliable for preserving wealth. In contrast, gold has a proven track record of preserving purchasing power and acting as a hedge against economic uncertainties.
As for the claim about the USD price dropping significantly every day, it's important to recognize that currency fluctuations can be influenced by various factors, including interest rates, economic indicators, and market sentiment. While the USD is stable at this moment, there are a few factors that indicate the collapse of USD: digitalisation of dollar (people are mostly against it), increased USA debt, future end of Ukraine war (no more money making for USA economy), over 28 countries last week applied to join BRICS (alliance against NATO and USA), BRICS accumulating gold, housing crisis and many other factors. These are just a few examples.
2. The definition of a gold-backed currency was presented to establish the context and differentiate it from investing in physical gold. While governments may set fixed prices for their gold-backed currencies, the concept behind a gold-backed cryptocurrency like GRC is to provide a secure and transparent digital representation of physical gold. The goal is to have a fixed value for GRC tokens based on a certain amount of gold, offering stability and a direct correlation to the precious metal's worth. This goal is the future goal and is clearly explained in detail in my first Youtube video I made. I went through the whitepaper and explained each point in great detail.
3. Regarding the roadmap and the future exchange of GRC for gold tokens, it's essential to understand that development plans are subject to updates and adjustments based on market conditions and technological advancements. While the specifics may not be outlined in the current roadmap, the intention to provide a mechanism for token holders to exchange GRC for a fixed amount of gold is a logical step in aligning with the concept of a gold-backed currency.
4. The 2% tax on buying and selling GRC is indeed a significant contribution to backing the token with gold reserves. While the current liquidity and gold wallet balance may be relatively modest, it's crucial to consider the potential growth and scalability of the GRC ecosystem. As more individuals and institutions embrace GRC, the liquidity and gold reserves will likely increase substantially, further solidifying the price stability and ensuring the backing of the currency.
Additionally, the 2% tax is based on daily trading volume, which means that as the trading volume of GRC grows, so will the funds available for backing the token with gold. This ongoing process ensures that GRC remains backed by a substantial amount of gold, providing a secure foundation for the currency's value.
5. Trust in governments and banks is a valid concern, as history has shown instances of economic instability and financial crises caused by government policies and banking systems. By emphasizing transparency, accountability, and decentralization, GRC aims to address these concerns and offer an alternative that provides individuals with greater control over their financial future.
6. While the roadmap may not explicitly mention owning storage facilities for gold, the intention to establish independent storage solutions aligns with the objective of reducing reliance on centralized entities and ensuring the security of the underlying gold reserves. By taking a proactive approach to safeguarding assets and empowering individuals, GRC aims to offer a more reliable and trustworthy alternative to traditional banking and monetary systems. That is again explained in my first Youtube video.
It's crucial to recognize that the current financial landscape calls for innovative solutions that prioritize transparency, stability, and individual empowerment. GRC strives to address these needs by providing a gold-backed currency that offers individuals a reliable store of value and a hedge against economic uncertainties. By leveraging the benefits of blockchain technology and a transparent ecosystem, GRC paves the way for a more secure and equitable financial future.
I'll make it short as you seems talking in circle.
1. Deflecting. The initial reason brought was to question whether you have the necessary knowledge and/or familiarity --or, "the experts" in my words-- in macro and micro related to buying those golds. We're not talking about macro and micro economics of savings. Let's continue discussing this further.
2. Denial. The initial reason this topic being discussed was because it is revealed that your project misled people. Your project
was not a gold backed token, it's an invested-in-gold token, of which you seemingly then try, at least from my opinion, to deflect it by inventing a roadmap where at one point you'll turn your project into a gold-backed token, though... [continued to point number 3]
3. Denial --for the reason stated above-- but acceptable. Yes, a project should strive to evolve based on criticism.
4. Deflecting. I asked for a use case scenario, numbers. It is not provided. Please revisit this matter.
5. Deflecting, again. I asked how exactly you'll issue credit card and erect a bank while you're against the idea of being legally bound and thus, incorporate yourself. Please explain more.
6. I don't even have a word for this. I am sorry if I have to be blunt, but you do aware that this sounds very stupid, right? You said that your intention is to, "
to establish independent storage solutions aligns with the objective of reducing reliance on centralized entities and ensuring the security of the underlying gold reserves", and the proposed idea is by asking people to rely on you to keep their assets? A completely independent individual, emphasize on individual, single person, not bound by any legal matter, partner, or responsibility to any governing body other than the celestial being and his inner-self? How could this an upgrade from the current system and reducing centralization?