Taler: Cryptocurrency with digital banknotes
Conceptually, Crypto-Taler TLR is a regular cryptocurrency. It has two significant differences.
1. Each Crypto-Taler corresponds to a digital banknote (signed and numbered secure PDF file).
They only exist together, and move together between users when sold.
2. Crypto-Taler is 70% reserved in silver – in the physical metal.
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In addition, Taler is the official currency of Saint Mary Liberty Island.
What is the uniqueness of Taler?
Well, “another crypt” is not interesting to anyone.
But the crypto, 70% reserved in silver, is, in general, attractive and interesting.
Purely on a psychological level.
Plus banknotes (signed numbered PDF), yes, but they still IS
– unlike everyone else – who have absolutely nothing.
Why buy this or that crypto?
Because they HOPE (believe) that it will grow in price.
There is nothing “rational” about this faith – it’s mysticism, religion, game, whatever.
Therefore, it is impossible for a Taler to be “hard tied” to the weight of silver – one troy ounce, 31 grams. Metal Physical Taler – of course, was and remains – 1 troy ounce of silver.
Any user can see the exchange rate of silver – and for sure will do it.
Because in the case of a tight peg, price growth is virtually impossible.
In fact, with 70% silver collateral – we hedge the risks of clients without creating an excessive load on the system – and on clients too.
Typical client actions are buying Talers at some rate “for something” – and then selling them on another (or the same) site at a higher price. In fact, anyone who has bought Talers is interested in the growth of the rate.
