What does 'redemption of currency' mean to a bot

I never understood the term, but it is going away.

The bot redeems a bet with a fairly measured probability distribution.  That means, any owner of the coin can place a volatility weighted bet, and get fair odds. Bots do not cheat bots and are protected from human tampering. Any two fairly measured probability distributions can be bet against each other, and the price converted into a yield curve.  Fairly measured currencies always trade.

Any way, George Selgin dealt with some of this in his recent post:
Yet Hayek himself was no free banker. 

What makes a precise yield curve? The savings and loan tree of the coin betters. Can you always buy goods with any coin? Sure, why not, the bot will convert prices.

Then what is the need of all the different coins? Because folks can gather groups of traders who have an undiscovered mutual entropy. Put them on a coin, the traders will collapse the redundant trades.

All of this is guaranteed by the brilliant kids from Cal Tech. Smartest brains in the world, they have all this nailed.

The card is the cash
Decompose its basic functions, it exactly mimics cash. Any transaction between bots, regardless of interconnectivity, is always a counterfeit proof delivery of cash. That is why Banker Coin is so valuable, total value should be around 20 million. Banker Coin is pegged to the number of smart card holders who have the complete Cal Tech banker bot, and Oxford programming interface, complete with Tap Magic.

Banker Coin:
So, by all means, for buy banker coin then buy smart card. The coins are split, 1/3 founders of the bot company, 1/5 for partner companies, and 1/7 to buy the Cal Tech and Oxford kids. I do not own banker coin.

Pre-order:
Fell free to pre-order from CardLogix, initial price, $60. No delivery date yet.

How is the security?
Last I heard, our VP Marketing,  had it rigged, no human will ever actually see and of the security graphs. And nested, unconnected disguise graphs will be semi random. Security levels aggregate up as the card holder runs every larger transaction rates. Those high level keys use less semi-random and more connected subgroups. They are under lock and key and full security. The banker company owns all property rights to  partially partitioned security codes, as used by banker bot.

Spoofs and floods?
 The bot don't care, it takes bets in order of arrival and rebalances adiabaticly with the posted liquidity risk.

Can I bet via robo bot?
Bots are tied to smart cards, and smart cards come with a variety of forms, SmartVault for your home, and SmartUnits for running web sites. So, your robo bot must be in the card and plugged into the betting network. Hence your robo bot can take bets on rapid change. But, have no fear, you can buy as many smart cards as you like, they even make one that plugs into the PC, pre-order this, I will try to get the manufacturer's name.

I hear nothing but good reports, I might bump my estimate of Banker Coin value.