Post
Topic
Board Announcements (Altcoins)
Re: [ANN][GoldReserve][XGR]X11 Unique Stabilizer Fund, BACKED BY GOLD NOW!
by
Mesterlovesz74
on 20/08/2014, 11:53:09 UTC
Let me begin by saying I like the XGR concept. I never mined the coin but I have added a decent sum of BTC to the XGR market cap. Please understand I am trying to be constructive.

I believe the multi-pool concept is a zero sum game. The price of XGR will only increase if there is direct investment in the coin. If the miners in the multi-pool do not wish to hold XGR and sell on the exchange then the purchases by the multi-pool are negated. Thus the price/market cap simply does not increase.

Now, imho, if you would like the value of XGR to increase then two things must occur.
1. An exchange for fiat currencies --> XGR directly.
2. Merchant acceptance of XGR for payment of goods and services.

I believe you do wish to create a long lasting store of value in this coin. So the question is why is BTC successful? Again, imho, it is because BTC can be used to purchase real goods and services. In essence, BTC is also a fiat currency because it is only backed by trust; trust that there will be value in the future.

This is where XGR is unique and is not tied solely to trust, but a commodity. This is where I see value.   

So, XGR, at the moment, not in the position to reach webshops and stores. I am aware of that we need merchants who accept XGR and I know where to start, but I think the time is not the best to start with that. I have plans and I think I have the right person to make those plans come true but we need to work on that first. When XGR will have a few improvements I am planning I will start bombing the merchant to add us to their list!

And of course as GoldReserve is connected to gold, the first merchant I have in mind will be a bullion merchant! We have a good change to get their but I want to improve it a bit, to be 99%!