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Topic: Another reason why bitcoin fails - page 2. (Read 2670 times)

legendary
Activity: 1106
Merit: 1007
Hide your women
February 26, 2015, 02:54:15 AM
#8
Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1.

You can claim a parity exchange rate. You also need to back it up. The only believable way is to own the same value in bitcoin for alt owners to exchange, similar to the gold-standard.

Or use a sidechain with a fixed peg.

Either way OP is wrong.

Anyone can claim anything, but that doesn't make it so. Something is worth what a buyer is willing to pay for it. Nothing more. Nothing less.

legendary
Activity: 1176
Merit: 1000
February 26, 2015, 02:44:23 AM
#7
Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1.

You can claim a parity exchange rate. You also need to back it up. The only believable way is to own the same value in bitcoin for alt owners to exchange, similar to the gold-standard.

Or use a sidechain with a fixed peg.

Either way OP is wrong.
legendary
Activity: 952
Merit: 1005
--Signature Designs-- http://bit.ly/1Pjbx77
February 26, 2015, 01:46:53 AM
#6
Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1.

You can claim a parity exchange rate. You also need to back it up. The only believable way is to own the same value in bitcoin for alt owners to exchange, similar to the gold-standard.
sr. member
Activity: 280
Merit: 250
February 26, 2015, 01:42:36 AM
#5
Just peg it... Make your own exchange point..
But who will create the buying volume? Who will visit your exchange?  Who will invest money? The coin creator himself wouldn't.
legendary
Activity: 1937
Merit: 1001
February 26, 2015, 01:35:28 AM
#4
Just peg it... Make your own exchange point..
sr. member
Activity: 280
Merit: 250
February 26, 2015, 01:32:50 AM
#3
Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.
That's stupid. You can create your own coin and say that its valued 1000times more than bitcoin.
Who will buy that stuff? I guess only the creator of that coin will invest in it. You cannot decide price of a coin yourself. Its the people who decide the price.
yui
full member
Activity: 182
Merit: 100
February 26, 2015, 01:19:35 AM
#2
Then why not claim the new coin to be valued 10 on 1?
legendary
Activity: 1937
Merit: 1001
February 26, 2015, 01:16:53 AM
#1
Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.
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