Re: [s-d] [s-b] miner forty niner

[Jay Campbell <bnomic@xxxxxxxxxxxxxxx>]

> Interesting idea. On what basis will the exchange rates fluctuate? How do I
> know I wouldn't purchase expensive gold only to find that it becomes
> mack-worthless the next day?
>
> Hmmm well for one you'd have to send me gold for free, I guess.
>
> Brings up this idea though: maybe we should play the actual gold market
> using macks? Or... something more volatile (calls and puts, anyone?)...
>   

Exchange rates will fluctuate according to the whim of the Trustees on 
both ends. Your guarantee is indeed the fact you can take direct 
possession of the gold at any time. Hose said e won't object to a 
resubmission of this contract, so I'll send it again, this time with a 
provision to name a different target to receive your cashed-out gold on 
your behalf , and/or to cash holdings out per real world rates and 
receive these funds via paypal instead.

I don't expect anyone to actually exercise the delivery option, but it 
provides the foundation of the trust relationship.

 >maybe we should play the actual gold market using macks

You could *simulate* that by tracking a gold or stock market. This 
contract is a chance to do it in real gold. If the value of the metal 
goes up the Trustees would ostensibly offer more Macks for buy-back.

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