Ehh…you need to be able to reach the mint to prevent a double spend.
Discussion
TBF, this is no worse than "Goldbacks"
Yeah, I’d still bet redeeming ecash for BTC is way easier than redeeming a Goldback for gold, lol
Goldbacks are gold. They're made with gold in them.
Do they sell them at a loss?
Ah.. Good point. They do integrate the cost of manufacturing into them, and that is calculated into their value. This means you would not be able to redeem for their full value for gold.
But it's a 1-time fee, unlike digital currencies that get charged a transaction fee every time there used.
Don't get me wrong. We should have both. Freedom currency in both digital form and physical form.
Then they're not "backed" by gold.
No, thanks to locking scripts and DLEQ proofs offline receives can be secure and save