Quote from: minecoinseveryday on August 06, 2014, 10:08:35 PM

Quote from: smoothdoger on August 06, 2014, 10:04:23 PM

Quote from: minecoinseveryday on August 06, 2014, 09:58:39 PM

Quote from: Rage19420 on August 06, 2014, 09:42:54 PM

Quote from: minecoinseveryday on August 06, 2014, 09:40:10 PM

In the future if XGR will be tradeable for Gold (or XGR purchased back using Gold funds) would the XGR be destroyed to maintain the same level of gold backing per coin?

When you trade a coin for cash and or gold then the receiver would own the coin. No need to destroy as it is not an end of line transaction.

In this scenario then the gold fund would own the coin and the only way the coin could come out into the wild again would be if more gold came in to replace it.

Or if the coin is destroyed then the gold backing per coin remains the same.

Just curious what the plans are for the coins being sold back to the fund.

they would be resold and used to buy more gold, this is pretty obvious

this would need to be done quickly which is why i asked about destruction possibility

EDIT: or the price of XGR for Gold must change to reflect the backing

Destruction would not be necessary.