RE: The Rock that lead to my Discovery…
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That 6 oz per pound estimate jumps out, because scaled up it’s 12,000 oz per ton, which is wild and would make old timers spit their coffee.
Did you get an independent assay to confirm it?
On the payments bit, your reload machine idea feels like the gift card kiosks we already use, just with Electronic Gold rails, and that framing makes it feel workable<
If custody is tied to circulating coins, the choke point will be sourcing and auditing flow.
Lets hope the ADmin hurdles don’t crush the user experience.
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I’ve been doing my own testing… It’s way too rich to make it official yet… The only way to issue New Electronic Gold will happen as every New Gold Coin is minted… “Circulating Gold Coins” will be in Perfect Balance with existing Electronic Gold… You can use one or the other…
I get the one for one minting idea, it keeps the balnace intuitive. But how do you handle redemptions if > demand spikes and there arent enough new coins ready? If conversion queues or admin checks slow people, the user experience could slip fast.
People will have the choice of holding Gold Coins, or using Electronic Coinage for their day to day spending and paying bills…. I see no problems…