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Question 1

Is the DigiGulden the same as Bitcoin?

Answer

The DigiGulden has many similarities to Bitcoin but also some major differences.

The biggest similarity:

Transactions are decentralized and the entire system is trustless. Trustless means that everyone (and therefore no one alone) is in charge and everyone controls each other. In short, DigiGulden and Bitcoin run on control(s) and not trust. This makes the system inherently very secure and virtually impossible for governments, banks or individuals to turn the knobs.

The differences:

The DigiGulden uses the Radix network, this network will be able to process many more transactions than Bitcoin can, while the network remains fully decentralized. Transaction times and fees are much lower than Bitcoin. This makes the DigiGulden suitable as a means of payment where Bitcoin actually is not.

Question 2

Where can I buy DigiGuldens?

Answer

Unfortunately, at the moment it is not yet possible to purchase DigiGuldens but it will soon be possible at some well-known Dutch brokers.

Question 3

Why is there a limit in the number of DigiGuldens you can buy?

Answer

We would like every Dutch person to have a fair chance to accumulate DigiGuldens. We must therefore prevent a large proportion of DigiGuldens from falling into the hands of a small number of people. By limiting the number of DigiGuldens that can be purchased per transaction, we ensure that people with fatter wallets cannot make unlimited purchases.

Question 4

Where can I pay with DigiGuldens?

Answer

Currently nowhere. But realizing this option is the goal of the DigiGulden Foundation. We will support and encourage business owners to enable payments in DigiGuldens.

Question 5

Are my DigiGuldens safe?

Answer

Your digi currencies are in your digital wallet, no one can access them, so they are safe. However, this also has a downside, you are in charge of your wallet and thus must remember your codes carefully.

Question 6

Does the DigiGulden use the Banks’ systems?

Answer

The DigiGulden uses the global network of Radix, this system is completely independent of banks. Therefore, the banks have no control over this.

Question 7

What does trustless mean, and what is the benefit to me?

Answer

“Trustless” is a term in the crypto world and stands for security and openness. Almost all the systems we use today are managed directly or indirectly by or with an organization or one or more individuals. An example of this is the banking system, if we want to use these systems (e.g. debit cards in a store) we have no choice but to trust the people or the organization behind that system. For example, the people who have influence over the banking systems have the ability to freeze or delete your account. In areas of the world where governments are somewhat less concerned with the concept of individual liberty, these capabilities are actively used to control citizens.

Most cryptos today are set up differently, the underlying technology running on many computers in many countries. Each computer has a vote and every few seconds/minutes they all agree on what the truth is and do so by casting the most votes. Thus, because everyone has a voice in the underlying technology, it is impossible for an individual or organization or government to determine things unilaterally.

In summary, with trustless cyrptos, you do not have to trust another person (person or organization). This makes services more accessible and secure.

Question 8

What does the DigiGulden Foundation do with the revenue?

Answer

The foundation aims to make the DigiGulden available in the Netherlands. Increasing availability and price regulation are part of this. But especially being able to use DigiGuldens to eventually pay for groceries with. All expenditures that the foundation will make must serve these 2 purposes, think of partnering and marketing. The foundation will provide quarterly disclosure of expenses to provide 100% transparency.

Question 9

What gives DigiGuldens value and how is it determined?

Answer

Our goal is to make the DigiGuldens available to all dutch people. First, we have created enough DigiGuldens to be used, so there are about 150,000 DigiGuldens available per Dutch citizen. Of course, the DigiGuldens only gain value when they are used by a large group of Dutch people, so it is important that the DigiGuldens end up in the hands of as many Dutch people as possible and not just a few wealthy investors.

You may have heard before that Crypto values can fluctuate wildly, and often it is in the interest of those who have already bought in to drive up the price as much as possible for quick profits. We do not want this with the DigiGulden and have therefore decided that we guarantee that the DigiGuldens will remain available over a longer period of time at a stable price. Only when 55% of all DigiGuldens are owned by the Dutch people will we let go of price regulation and let the market determine the value of the DigiGulden. Our expectation is that the value will skyrocket once we release this price regulation so that at that point everyone who owns DigiGuldens will benefit proportionately.

Question 10

Do I need to register to purchase DigiGuldens? And how am I supposed to do that?

Answer

Yes, you must register if you wish to purchase DigiGuldens, this is a requirement of the Financial Markets Supervisory Authority and is intended to prevent money laundering. Digigulden Foundation is registered in the Netherlands and will have to adhere to these guidelines.

Registration, of course, is only a one-time fee.

Question 11

Why are there 2550 billion DigiGuldens?

Answer

2550 billion is a huge number, far more than, say, the 22 million Bitcoin will ever exist. Nevertheless, we felt this was necessary because the DigiGuldens is the first crypto suitable as a means of payment. Two things were important in arriving at this number, the number of users (17 million) and the average wealth in euros per Dutchman (about 150,000). We decided to use these figures during the development of the DigiGulden.

To illustrate why it is important to keep this order of magnitude, below is an example of Bitcoin; there are only up to 22 million of these in the world with the result that in the case of Bitcoin, the price in euros is huge. Checking out a coffee at the gas station would then cost 0.00004 Bitcoin. You see, that is impractical. By aligning the numbers of DigiGuldens with the number of Euros held by the Netherlands, we keep the same order of magnitude which in time will make usage a lot more intuitive.

Question 12

What is Radix?

Answer

DigiGulden runs on a global crypto network, this network is Radix. Because we use this network for global, decentralized, fast and cheap transactions, every transaction requires payment to everyone who keeps this network running. These payments are not made in Euros but in Radix tokens. The cost per transaction will always come out to a few cents.