2. Offer: I will buy 1 DVC for 12 UNO*. Offer expires 24 hours from this post time-stamp.
*photo of logged-in bitcointalk screen with precious metals in foreground coming mid-next week. I suspect I can't trade until then (?), in which case please ignore #2 here. No offence intended and will post again in a few days!
-Craig
I wonder. Technically speaking you should be allowed to purchase a dvc from anyone who is currently holding them as the silver has been verified for the dvcs that are out there. I could also see it being traded only among members who have been verified as it keeps everything working "correctly". Thinking about it, i would say yeah, you need to be verified. Eventually we would run into the issue of there being no silver backing the coins if they are sold to people who are unknown to be holding silver. In theory every dvc out there represents 2 ozs of silver. Another way to look at things is dvc is a place holder for your two ounce silver trades. If any lurkers are out there and still "wtf are these clowns on"
So if i were to trade to you, there are two ozs of silver that follow that trade. Now you trade that dvc to someone else, and they trade it to someone else, neither party is verified, there is no real silver backing anything, you are left with a giant ponzi scheme. Which i think is inevitable if this were to grow to great levels. It would be the most secure for 50 small markets to exist, doing the same thing we are doing here, than to have one giant one. Better for everyone as it is easier to call people out and do the checks and balances.
DVC is a unique coin concept in my eyes. PoO (proof of ownership) type coin. The entry fee, while not nominal, is something most people here could most likely scrounge together. It is a really nice entry point for people who might have a hard time getting into crypto, but have bullion around. I for one take no offense but would rather have a slightly lengthy process involved with verifying. Prevents crimes of opportunity from taking place. Why lock the door on your home when there is a window right next to the lock? Peace of mind! I keep reading it and i like it, i am not in charge. It is a loosely democratic process involved here with logic taking the drivers seat. Strap in and hold on