Coin (Au) – is a stablecoin founded by PIPezi and every Coin is pegged with Australian dollars.
Stablecoin – are cryptocurrencies the value of which is pegged to another currency.
History of Money
Throughout history, the value of money has been based on the purchasing power of a unit of money. One approach to measuring money’s value is to compare its precious metal equivalent using gold or silver. Under a gold standard, a dollar should be worth approximately a dollar’s worth of gold.
In the early 1930s, the United States (U.S.) government nationalised all privately owned monetary gold, effectively confiscating gold from individuals prior to devaluing the U.S. dollar. By 1939, the United States government had managed to acquire more than half of the world’s gold stock, which propelled the U.S. government to global monetary power.
Since the mid-1940s, the United States government would only redeem the U.S. dollar for gold with foreign governments providing a stable value to support the purchasing power of the U.S. dollar currency. In 1971, the United States stopped honouring the redemption of U.S. dollars for gold, leading to an unsupported paper money system known as ‘Fiat’ money.
Fiat money is simply paper money that cannot be converted or redeemed into precious metals such as gold or silver. It has no real value beyond the confidence it maintains between merchants and users to exchange goods and services at any given time.
Fiat money or paper notes are designated by governments to have legal tender. This government authority provides a certain degree of confidence, although it has no association or link to precious metals such as gold or silver, and no direct intrinsic value. Governments have the authority to remove legal tender at any time, rendering the value of paper notes in circulation worthless.
As governments add to the money supply they debase and erode the value of the fiat currency. This results in inflationary cycles that lead to hyperinflation if excessive volume of money or debt is generated by government fiscal policy. Throughout history ruling powers and governments have repeatedly debased their currency leading to periods of hyperinflation, which are usually accompanied by supply shortages and conflict over dwindling resources. Many of these same patterns are occurring at this time in multiple regions around the world.
What is Coin (Au)?
Coin is a Stablecoin that is pegged to the Australian dollar
1 Coin = A$1.00
Regardless of market fluctuations, Coin remains stable at one ($1.00) Australian dollar
How does it work?
Why use Coin?
The Coin symbol is: (Au)
Coin (Au) provides cryptocurrency ownership without stress.