ChessCoin cryptocurrency

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  • #16
    Re: ChessCoin cryptocurrency

    Originally posted by Garland Best View Post
    Thanks Sid.

    So one advantage of a centralized system is that it can halt trading if suspicious activity is found, or if there is a sudden crash in the market such as what happened on Black Monday 30 years ago. What safeguards in place for coin offerings?

    With all the talk these days about ICOs, I'm somewhat interested, but I'm near that age where I am less willing to take risks. Still, I need to keep an open mind.

    PS: I find gold certificates interesting. I read that the number of gold certificates issued grossly exceeds the world's total volume of gold, including that still in the ground, so if people bought gold certificates as insurance against economic collapse are in for a rude awakening if they later try to redeem them en masse for the actual gold.
    1)Coin offerings do not have any safeguards at all against price volatility and probably never will .
    2) Any asset back offerings we do will be fully guaranteed by large insurance companies such as Lloyds of London syndicates.