These currencies are able to be traded P2P through the Counterparty DEX system (as DEX "asset"s) and enable USD P2P trades to be done natively against any other DEX tradeable assets such as XCP, BTC, MPTSTOCK, MPUSD, MPBTC,  etc. Many possibilities exist for purely P2P exchange using these assets.

MPUSD are available from us through trades negotiated through Torchat, FB messenger, the XCP DEX system, or other channels we choose to use (such as Agora Marketplace, link in sig).


1) MPUSD MPBTC holders will always get priority redemption at 100% full face value for our Moneypaks (MPs) via Torchat or FB messenger as well as any future distribution methods we use for selling MPs.
This means that if you have MPUSD MPBTC, you can redeem them with priority over holders of BTC or other cryptocurrencies.
i.e. If you contact us through Torchat and want to redeem 2000 MPUSD (currently ~ 3.15 MPBTC) for MP's we will trade you all our available MP's up to $2000 in exchange for your 2000 MPUSD or 3.15 MPBTC (up to the value of MPs we have available, which replenishes every day. Example: Only 1800 MPUSD are redemmed if we only have a $400, $500, $300, and a $600 MP in stock, but no $200 MP to round out the 2000). NOTE: MPs must be redeemed and cashed out promptly, generally within a few minutes.

2) MPUSD MPBTC can be redeemed through us for USD CASH mailed to ANY continental US address (including POBoxes) for a maximum fee of 15% (you receive 85% in USD CASH in mail). This is a permanent service, contact us through torchat or facebook messenger to order some cash.
BONUS: Orders placed in March are eligible for a promotional 5% rate (you get 95% in CASH mailed to you).
FEES/LIMITS NOTE: 10 MPUSD Priority or 20 MPUSD Express Shipping fee applies. Limit of $1000 per address per 7 day period.

3) MPUSD MPBTC holders can redeem their MPUSD MPBTC through us for BTC AT 100% FULL VALUE!
MPUSD MPBTC holders can redeem their MPUSD MPBTC through us for XCP, NMC, or other digital assets/altcoins for a maximum 15% fee. For the month of March, this fee will only be 5% (i.e. you get 95% of the asset requested).

4) In order to guarantee redemptions, we will maintain at least 100% Bitcoin reserves for the outstanding MPUSD in our business address: 1MPUSDQ7MVrqbSTFfacNP1V9KBooz9XKgy
In order to guarantee redemptions, we will maintain at least 100% Bitcoin reserves for the outstanding MPBTC in our business address: 1MPBTCrAZPxR8dzUJc69R6RnbvVgVtKuaT

You can see we have FAR more BTC reserves than the externally held MPUSD and total issued MPBTC and we pledge to continue to maintain adequate reserves by not selling more MPUSD MPBTC unless our reserves would be at least 200% for MPUSD (to prevent bitcoin price fluctuations from lowering reserve value below outstanding MPUSD value) and 100% for MPBTC.
In the unlikely event the BTC/USD value falls and causes the MPUSD reserve value to be less than the outstanding MPUSD, MPUSD will only be able to be redeemed through us for the full proportion of BTC held in the reserve account.
Historically, BTC prices rarely drop more than 50% so our 200% reserve goal should be adequate.

Others will (hopefully) trade our assets/currencies to increase liquidity.
We are open to partnering with other trusted bitcoin people/groups to further distribute guarantee redemptions.

NOTE: MPTSTOCK is the publicly traded investors asset for moneypaktrader.com with profits distributed on a monthly basis.

If you actually have gold reserves and don't take the proper registrations, I'm pretty sure Uncle Sam will come, but I like the idea. But remember E-Gold went down for the very reason it was centralized. So you have decentralized trading of IOUs but centralized reserves.. any centralized point is a point of failure and adds counterparty risk. Maybe this is a moot point idk.

http://bitcointangibletrust.com/wp-content/uploads/2014/03/Counterparty_slider-gold-bars.jpg


Our Mission:
We aim to be a physical gold custodian, digital gold asset issuer, and P2P decentralized exchange platform for our gold customers.

Will you the Counterparty Community help us in the following?

• Ask us any questions in this thread that we should address on our FAQ
• Tell us your thoughts about the issues you think are important to making this Counterparty startup a success.

Got all kinds of errors on that... -___-

Great job guys and a valuable service.
The only thing that is needed right now is 'proof of reserves'. For example if you issue 100 gold coins. You need some form of proof/validity that you indeed hold the gold in custody (as you mention using industry standard procedures).
P.S - The link in the original post is broken.

Agreed. "Proof of Reserves" or "Proof of Custody" we are working on at this moment. We can get proof from our custodian companies holding gold and have them share an update once a day. Thanks for sharing this. We're working on that process as of this writing.