So this is effectively e-gold? What about decentralization? Is there any reason this won't be shut down like e-gold?
I don't think this is going to get very far...
Exactly and E-Gold, which by far the price is always dependent on how much the current price of gold.
Ok then, it is backed by gold. But what's backing gold?
It's not a real cryptocurrency, it's an informal ETF.
People that still think that true cryptocurrencies need backing do not understand how money evolves.
ya.ya.yo!