Quote from: delphs on August 10, 2014, 12:40:39 AM

Quote from: Earthgiver on August 10, 2014, 12:25:44 AM

Quote from: delphs on August 10, 2014, 12:19:19 AM

omg seriously??

First of all crypto backed by goods is pretty much going against everything crypto stands for! Now the coin can be manipulated by market and government... way to go!

Second, 94% pre-mine? really? you do realize how ludicrous this is right?

Third, stop playing with your imagination? WTF?? without imagination, crypto wouldn't have happened!

Seriously, you obviously have no idea what you are talking about, i am not being offensive. please check out my Q&A, i answer the question about decentralization. And please let me know how you would back this with out a pre-mine. i am really interested in how that would work. Coins are already manipulated by the market. and I am not the government so not sure you issue here.

We buy silvercoin from you, you use that money to buy real silver and stash it somewhere, at any moment we feel like cashing out, we send you silvercoin and you send us silver. That's pretty much the idea.

In this concept, we'll need to know who you are, where you live, where your store/office is, a legal contract stating your business model. Without that we can't sue you if you just decide to say "fuck it" and run with the money. An actual legal entity needs to be responsible for this otherwise it's just a scam. Now if you are now in business of buying and selling silver, you need to pay taxes and shit. Also you need to ship us the silver when we cash out, shipping costs will be expensive, you know how heavy silver is.

So now you have all those expensive cost and fees, I'm not paying for it, what a waste of money. I'm sure you don'T want to pay for it either. So how are you suppose to make a 2-5% return a year again? Specially if the price of silver goes down? Don't forget your guaranteed that return.

So tell me again why I have no clue what I'm talking about?

no you do not get silver, you get money. And you do this everyday with other coins. if they say oh well and walk away your in the same place but you don't have a issue with that. see this is the problem all of those questions are answered in my q&a section as stated above. every coin you invest in you are taking a risk and there are coins out there that cost a whole lot more than mine. but i am assuming you buy them anyway. did you try to beat down their idea when they launched it. I am figuring probably not. thanks for you input. Wink