Voted "never". Unfortunately, in our country, using crypto for the payment tool is forbidden. Well, that's against the law to use it for payment purposes. But we can use crypto for the digital asset, it is legal here. It seems we still need a lot of time to use crypto for paying something here. Anyway, what do you mean by "real money"? Do you think it will be printed? Bitcoin is created for the purpose to be electronic cash (money). It mustn't be printed. It has no differences with fiat if it is finally printed.
Hi! By real money I mean the use for transactions, not just the use as an asset...Regarding the printing - why do you think that it mustn't be printed? Most people around the world use cash for most of transactions, the lack of printed Bitcoin is its disadvantage, don't you think so?
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Topic
BoardEconomics
Topic OP
Did you ever used cryptocurrencies to buy anything?
by
igorc
on 25/03/2020, 07:19:30 UTC
Do cryptocurrencies play the role of medium of exchange?
Can you really use only cryptocurrencies or fiat without cash form in everyday life?
For the current state of my country, i cannot use cryptocurrency almost all of the time. We still dont have any technology that can support a fully non fiat payment system although we are a free country that can use cryptocurrency as we want. The least we can do now is to buy load and pay bills using crypto through an app.
For now in my country no physical store accepts bitcoin as a payments option officially, although few smaller shops own by cryptocurrency enthusiast do accept bitcoin and some other altcoin as a payment option. When it comes to online transaction I rarely use fiat related service providers, the only time I use fiat currency is when I'm dealing with banking transactions. In shopping online, I only used cryptocurrency related service providers. so I would say for my everything activities, I still use cash (but will love to stop if the opportunity presents itself) and when it comes to online transaction I don't use cash (fiat)
I pay for most (but not all!) of the things I need with card. But even if one of my cards is Wirex crypto card (which lately I don't use much since Bitcoin is at 3000-4000) the payment is with fiat. The only places where I could pay directly with Bitcoin in my city was at a few online shops.
Maybe you should make it a little clearer what you want to find out with your poll...
We are working on Golden Currency project ( https://goldencurrency.money ), where we issue money that is available both in crypto and in cash form. We find the possibility to use crypto money in cash form as one of advantages. We expect that almost everybody anyway uses cash and in such a case the lack of such opportunity limits the potential use of currency. That's why we started the poll to prove it. Would be glad for your votes and comments regarding your view on such an option.
Live without fiat? Obviously, for now, it's not possible as mass adoption of cryptocurrency is still in the early stage. But as time proceeds day by day many will be thinking about accepting cryptocurrency as payment for their business and services by which will be the reason us to live without fiat and start living using cryptocurrency to get our needs.
More the question is - can we live without cash?
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Topic
BoardEconomics
Topic OP
Do you need cash for everyday use?
by
igorc
on 19/03/2019, 08:28:22 UTC
We are working on Golden Currency project ( https://goldencurrency.money ), where we issue money that is available both in crypto and in cash form. We find the possibility to use crypto money in cash form as one of advantages. We expect that almost everybody anyway uses cash and in such a case the lack of such opportunity limits the potential use of currency. That's why we started the poll to prove it. Would be glad for your votes and comments regarding your view on such an option.
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BoardAnnouncements (Altcoins)
Re: ✅[ANN][ICO] First⚡Cash⚡️Money on Blockchain - GOLDEN CURRENCY
the interesting thing about this platform is the Golden name and the daily use of transactions can be a crypto and fiat coin. Golden like the Dutch currency, what is cooperation with the country? how is it legalized?
Hi! The name of the currency was not intended to be correlated with any countries' money, it is based on the word Gold as Golden is 100% backed by gold. Golden is planned to have worldwide use, Netherlands is one of such countries. Golden will be a fully legit private currency.
Guys, as an expert in international finances this is an interesting idea but not a feasible project. The background of the today's international financial system was established around one century ago and was built during many and many years. During this period many obstacles were removed to get what we have for today. Number ONE obstacle was to remove the golden standard from the functionality of all the currencies. The project will be immediately blocked by relevant governmental authorities in every country.
What we do is a fully legal project and system, there will be no reason for blocking it. Seems like bitcoin, etc. is also one of the obstacles that you are mentioning, but its working...
Sounds interesting, but I'm wondering I this project is pegged to the price of gold or is it actually backed by gold in the sense that you have the gold?
Hi! Golden is actually backed by gold in vaults, and Golden users will be able to come to our vaults and get gold in exchange for Golden, if they would like to...
Hello, could you tell me what exact gold been used for backing that coin? A personal gold reserves of the development team? How is it protected? I mean if the team would decide to sell all the gold the users of the platform might lose lot of money
Hi! Sure, only 999.9 certified gold will be used for backing. Many options will be used to make gold as secure as possible, starting from independent management and ending with blockchain and independent audit. Reliability is the key of the project, and making sure that the gold is secured in vaults and Golden user can any time change it into Gold is one of the key issues of our project. You can find more details in our White Paper at https://goldencurrency.world/white_paper_eng.pdf
The project looks good. Attachment of your cryptocurrency to gold means the stability of its price, is correct? If this is so - it will be cool! Good luck!
Already there are similar projects, where tokens are allegedly provided with gold. What are the differences between your project? Thanks
There is no such project. We are the first project of stable and fully backed by gold money that you will be able to have for cash and noncash transactions. In other words its like dollar or any other fiat, but more stable as backed by gold, with easy conversion to crypto and other fiat and many other advantages.
Maybe you haven't heard of xaurum yet? At least they are legit so far. You are not the first project to use gold as a front. And if you are really backed by 100% gold, can you provide us your gold certificates in possession? Most projects saying they were backed by gold were scamming gullible people here.
Hi! Golden Currency is surely more than just backing by gold, Golden is real money, the first global private money. Gold is very important part of our project, but it is just used to make it stable. We are not planning to use certificates, as real gold is surely much more reliable. And only top-tier auditors will provide regular audit of gold. You can read all the details in our White Paper at https://goldencurrency.world
Based from my knowledge in terms of this gold business, everyone should have certificates of possessing real gold. So it comes along with your possession. So why is it that you're not planning to use certificates? If it comes with it? Just wondering here...
If you mean that we back Golden by certificates - it means that there will be an additional risk to Golden holders as there will be one more party involved, between gold and Golden holder - its not good, that's why we prefer to have it backed by real gold that Golden holders will be able to see and check.
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Topic
BoardAnnouncements (Altcoins)
Re: ✅[ANN][ICO] First Global⚡Cash⚡️Money on Blockchain - GOLDEN CURRENCY
On your page there is very little information about the project team, also about the details and timing of the ICO, there is no information on the structure of the distribution of money for your project. How will you 100% provide gold for your coins, for this you will buy gold in the market and store this gold in the bank?
Hi! All the details on the team, timing of ICO and detailed distribution of money is provided at our website https://goldencurrency.world and White Paper of the project https://goldencurrency.world/white_paper_eng.pdf Backing by gold will be provided for Golden money, not for coins, we are planning to buy gold in the market and store in special gold depositories. Please, let me know in case of any questions. Thank you!
the concept is also an interesting idea and hopefully a lot of participants who like and support this project so that the future can be developed further.
thank you! we also are very fond of idea! and special thanks for all our supporters and followers!
If your token is 100% backed by gold, how can you offer it with a 35% of bonus? Are you able to buy gold with 35% discount?
If I were an investor I would be worried that nobody of the team has answered to this question of mine...
Hi! It seems we answered the same question from you earlier on another thread about our project, sorry if we missed it here. Please, find the answer in my previous reply above and let me know if you will have any more questions - will be glad to answer!
Already there are similar projects, where tokens are allegedly provided with gold. What are the differences between your project? Thanks
There is no such project. We are the first project of stable and fully backed by gold money that you will be able to have for cash and noncash transactions. In other words its like dollar or any other fiat, but more stable as backed by gold, with easy conversion to crypto and other fiat and many other advantages.
Maybe you haven't heard of xaurum yet? At least they are legit so far. You are not the first project to use gold as a front. And if you are really backed by 100% gold, can you provide us your gold certificates in possession? Most projects saying they were backed by gold were scamming gullible people here.
Hi! Golden Currency is surely more than just backing by gold, Golden is real money, the first global private money. Gold is very important part of our project, but it is just used to make it stable. We are not planning to use certificates, as real gold is surely much more reliable. And only top-tier auditors will provide regular audit of gold. You can read all the details in our White Paper at https://goldencurrency.world