Topic: A new better bitcoin - capital coin (Read 3964 times)
It cost money to mint bitcoin.
Ok, with bitcoin dropping like hell, we need someone that will step up. Another alt will not be bad.
Bitcoin has the stablished network, no other coin will replace it. If there is something key in tech levels, the Bitcoin developers can copy it and integrate it within Bitcoin. No problemo.
1+
Too late for this. There is ripple, there is lite, doge and more. Why do you think that this coin will surpass what bitcoin has attained?
BTC is not backed by nothing. It's backed by hundreds and thousands of miners.
Like a hamster on a wheel when they get off there is nothing.
This is stupid. Your understanding of economics is zero.
When a Hamster gets off a wheel.............the wheel is still there......the wheel has value.....the wheel doesn't disappear unless Spock beamed it up to USS Enterprise.
The work is gone. The work not transferred to a material object to be used later is lost. If you go hunting if you don't come back with a duck your trip is a worthless.
Bitcoin is the wheel, not the hamster. hamster is thing behind btc, thing behind USD, thing behind euro. Unless you will go back and start trading with sheep's, you will always trade with wheel and not hamster.
BTC is not backed by nothing. It's backed by hundreds and thousands of miners.
Like a hamster on a wheel when they get off there is nothing.
This is stupid. Your understanding of economics is zero.
When a Hamster gets off a wheel.............the wheel is still there......the wheel has value.....the wheel doesn't disappear unless Spock beamed it up to USS Enterprise.
The work is gone. The work not transferred to a material object to be used later is lost. If you go hunting if you don't come back with a duck your trip is a worthless.
Quote from: steelhouse
#2 Suppose Bitcoin was backed by Coca-Cola Stock. $6 billion of stock, would generate $187 million in dividends alone annually. Imagine if some blind entity to bitcoin was buying $187 million of bitcoin and destroying them, every year as long as coca-cola exists. Suppose this was another group and a blackbox not tied to the Bitcoin foundation. As a bitcoin owner which would you rather own:
Bitcoin #1 backed by nothing zero inflation.
Bitcoin #2 with the blackbox destroying $187 million, presently about 0.4 million coins a year.
That's what a capital or business coin offers. Now transaction fees might have to be higher to offer protection as there would be no money printing. One thing I notice about AZO stock above, it has yet to have a losing year this century.
Bitcoin
2013 $757
2012 $14
2011 $4.7
2010 $.30
I think I get what you're saying. It's an interesting idea!
To answer your question, ideally I would rather own the Capital Coin, but...
What happens to the value of the coin when the underlying asset drops in value? For example, Coca Cola goes bankrupt? In that case I would rather own the "unbacked" Bitcoin.
As others pointed out it would introducing centralization again in the form of managers, which is also risky.
I think it would be cool to have additional layers on top of BTC where you could take a portion of BTC and create the Cap Coin. If you could figure out a way to do this and address the management/trust concerns it would be great.
You don't have to have just one stock, but if bitcoin owned $6 billion of KO stock, they could probably offer a can of soda with the bitcoin B symbol on it.
What happens to the value of the coin when the underlying asset drops in value? just use the dividends for deletion.
For example, Coca Cola goes bankrupt? you could hold multiple stocks and decentralized. The stock could be helds across the world, the only requirment is bitcoin is deleted.
As others pointed out it would introducing centralization again in the form of managers, which is also risky. The capital might be in no way owned by bitcoin, only a foundation like the Gates Foundation. The gates foundation lists their holding and we could actually mirror their holdings. We all know bitcoin is just as important as the Gates foundation. We could even start sending letters to non-profit foundations if they would support deleting bitcoin for us. We could also write letters to hedge fund managers to see if they would donate to the Bitcoin Deletion Foundation. Thus you have deletion and growth working together to allow the working class keep their money.
BTC is not backed by nothing. It's backed by hundreds and thousands of miners.
Like a hamster on a wheel when they get off there is nothing.
This is stupid. Your understanding of economics is zero.
When a Hamster gets off a wheel.............the wheel is still there......the wheel has value.....the wheel doesn't disappear unless Spock beamed it up to USS Enterprise.
Original post is seriously retarded.
Quote from: steelhouse
#2 Suppose Bitcoin was backed by Coca-Cola Stock. $6 billion of stock, would generate $187 million in dividends alone annually. Imagine if some blind entity to bitcoin was buying $187 million of bitcoin and destroying them, every year as long as coca-cola exists. Suppose this was another group and a blackbox not tied to the Bitcoin foundation. As a bitcoin owner which would you rather own:
Bitcoin #1 backed by nothing zero inflation.
Bitcoin #2 with the blackbox destroying $187 million, presently about 0.4 million coins a year.
That's what a capital or business coin offers. Now transaction fees might have to be higher to offer protection as there would be no money printing. One thing I notice about AZO stock above, it has yet to have a losing year this century.
Bitcoin
2013 $757
2012 $14
2011 $4.7
2010 $.30
I think I get what you're saying. It's an interesting idea!
To answer your question, ideally I would rather own the Capital Coin, but...
What happens to the value of the coin when the underlying asset drops in value? For example, Coca Cola goes bankrupt? In that case I would rather own the "unbacked" Bitcoin.
As others pointed out it would introducing centralization again in the form of managers, which is also risky.
I think it would be cool to have additional layers on top of BTC where you could take a portion of BTC and create the Cap Coin. If you could figure out a way to do this and address the management/trust concerns it would be great.
Some people simply have a hard time wrapping their head around why Bitcoin is valuable. OP has a long history of misunderstanding Bitcoin. No amount of discussion is going to change that.
OP if your idea is truly superior, simply implement it and allow it to compete with Bitcoin in the market. There is no point in trying to convince anyone.
OP if your idea is truly superior, simply implement it and allow it to compete with Bitcoin in the market. There is no point in trying to convince anyone.
It is not superior.. the gov will insta steal all of the gold and put you in prison for life. The gov are the worst type of scum there is.. it is imperative to understand this.
Nope won't work, google "liberaty dollar" MERICA will come beat your slave ass down for this idea. A slave attempting to be free is met with extreme brutality from the slavers.
All currency represents is trust and in trust terms bitcoin delivers big.
Another shitcoin with a shilling OP.
Many of them tried, all failed. Bitcoin will stay. Period.
It has been like that for many years. No lesson learned.
I think they can also make real money if they start new coin again.
Well, how can they do that?
Why Bitcoin will fail.
Bitcoin is backed by nothing and eventually a new cryptocoin coin based on productive assets will come along and displace it.
Bitcoin is backed by nothing and eventually a new cryptocoin coin based on productive assets will come along and displace it.
Its not "nothing" its back by lightweight assets. These lightweight assets are its strength not weakness. It is highly adaptable vs assets which take greater management.
Someone will have to build a better lightweight system to displace BTC.
Here is idea, there are a few alternative cryptocurrencies with no inflation and small. I0c and IXc (infinitecoin) but there are about 5 probably. Now
1. offer to set-up a nonprofit that people would donate bitcoin for the sole purpose to delete one of these coins.
2. Say you get 30 BTC.
3. Then just run the miners on bitcoin and delete the i0c or iXc or infinitecoin coin.
The question I ask is how high can a coin like i0c go. This is the original i0c not i/oc. There will be a steady daily buyer and deleter. I think this would be a good test. The beauty is this is all possibly legal as there is no business just some capital deleting coins. It would be an extremely interesting paper to write if you are an economics major.
1. what problem do you have with deflation ?
I want a coin with deflation 10%.
2. money does not need backing.
What is the difference between sand in a dog dish and bitcoin? The only difference is a group a collective sees it as money.
3. A capital coin is stupid. you can issue shares of a corporation with colored coins. but "backing" a coin to the economy of a corporation? stupid
Imagine a coin with $6 billion in market cap with nothing.
Imagine a coin with $6 billion in market cap with $6 billion in Coca Cola stock.
Which is more? Would you know any difference in use?
Many of them tried, all failed. Bitcoin will stay. Period.
It has been like that for many years. No lesson learned.
I think they can also make real money if they start new coin again.
Many of them tried, all failed. Bitcoin will stay. Period.
It has been like that for many years. No lesson learned.
Many of them tried, all failed. Bitcoin will stay. Period.
Jump to: