nodnarbusn
Grand Master
nodnarbusn has reported a post.
Reason:
Forum: Cryptocurrency Discussion
Assigned Moderators: James, Entrr
Posted by: khapoli
Original Content:
Reason:
Post: XNF; A digital currency backed by gold?
Forum: Cryptocurrency Discussion
Assigned Moderators: James, Entrr
Posted by: khapoli
Original Content:
Interesting. I never knew 25,000 looked like 25,000,000. I guess I was wrong. :huh: And I'm not talking about the current volume of coins released. There is NO mining for XNF, so who essentially controls the supply of XNF? NoFiat themselves. Which again, returns to the problems I mentioned before about trusting your XNF balance to a singular entity when they may or may not have the bullion to cover it. And 50,000 coins released now x $6 is still $300,000. They only have $40,000 in assets. They can't even hold 1/3 of their total coinage in bullion at THAT low an amount? Come on now.
And to your third point, how exactly did I prove it? People exchange USD/EURO/RMB/BTC/all types of currency for PM's. I basically disproved the need for XNF if anything. You don't need a dedicated scamcoin to do that for you.
Please allow me to come in between you two warriors!
Honestly speaking it were you who wrongly put the total number of XNF released to 25,000,000 (25,000,000 XNF are released to SOLEY NoFiat, Please look at your previous post) which is incorrect.
Another point which i believe it not required to discuss about this coin XNF is the central authority which release them. I mean its all understand that being a centralized system, nofiatcoin would be the authority to release the XNF and do people have any choice to complain about it? Just like in case of XRP released by ripple. However, Its up to us to buy it or not.
Am I correct?
