The new artwork is great; but, for spending purposes the artwork of any given year or denomination shouldn't have any bearing on its purchasing power in the market, right?
Design updates look great! But uh, the prior art fetching a premium is not good for fungibility. I don't think I would *encourage* people to hold onto them. Collectors will do so regardless but I would hope that the market would ultimately not price in a high premium - Goldbacks are in short enough supply as is for transactions without collectors introducing problems with fungibility. If Goldbacks are going to succeed as currency, 1 Goldback needs to be treated as 1 Goldback in transactions, regardless of the art.
If you compare to US currency, the important part is fungibility at issue date. Over time, people may want to collect Goldbacks or complete sets of it, but that doesn't mean they lose the value as a medium of exchange as long as there is a community around that. I guess what I'm saying is, we can have our cake and eat it too as long as retailers accept goldbacks for services at an established rate and don't demand certain years etc. If a retailer gets paid in all super rare New Hampshire Goldbacks, it would be the equivalent of getting paid 10 morgan dollars for Dinner in 1970.
An additional security measure would be to incorporate a cryptocurrency to the goldback as a proof of ownership. So even if the note is stolen , you have proof that it is indeed stolen and make it easier to track the thief. Unless they melt it. But that can be curbed by monitoring and regulating the amount of gold grains in the state. How to spend it would be to not only hand the notes but also confirm the transaction, digitally.
Great job to silver dragons for doing this review. Additionally, I’ve always seen goldback’s more as a novelty than anything else, as I live on the eastern side of the Mississippi. However, with the news of the dollars strength, dropping below 100 on the stock market more and more people are trying to offload their cash into any type of valuables I’ve noticed. Maybe this will catch on as a currency also, if the bricks nations do introduce a gold backed currency. At least we have an American bass company that has one heck of a Headstart.
@@GoldbackInc also, I’m not sure how you choose the states for the local currency, but on the off chance that it is recommendations from a random person on RU-vid, could I recommend Ohio? Lol
@@TheCorybonuafThey analyze how the individual states treat gold as money. Some are extremely friendly like Utah, and some are absolutely awful like New York State. Then they take into account public demand in each state, and if sponsorships for those states exist. New Hampshire for example was launched because a few anonymous sponsors highly petitioned and backed Goldback coming to the state.
Since they are all valued the same way no matter what state, you could still go ahead and use them wherever you are. I live in California and pay my rent with gold backs. My local grocery store also has agreed to accept them. So ask around your area and see who has enough sense to accept them.
Can I suggest a printable page on the Goldback website that briefly explains the Goldback. That way users can give it along with the Goldback. Something the size of a business card would be ideal. Even add a QR code linking the website. I live in Indiana, and I plan on using Goldbacks as tips and gifts. Something easy to add is a written explanation.
new one is way to dark and cluttered ..whatever it is they added over the purple scrolling on the side takes away from its more authentic money feel ..why the added crown on the lady also looks silly as she's tending sheep ?
