How to Fix Bitcoin Price, or is there an Alternative?

evoorhees

legendary

Activity: 1008

Merit: 1023

Democracy is the original 51% attack

If you can peg BTC to USD, then why not peg all currencies to USD?

Let's have an exchange where EUR is pegged 1:1 with USD. Also, let's peg japanese yen at 1:1 with USD. Also, let's peg Zimbabwe dollars at 1:1 with USD

Actually, why stop at currencies?! Let's peg all things together at 1:1, so that $1 buys one apple which buys one laptop which buys one house! As long as you have one of something, you could have one of anything!

There is no difference between pegging houses to dollars at a 1:1 ratio vs. pegging Bitcoin to dollars at a 1:1 ratio. Both are equally absurd, and for the same reason.

bluebeard

newbie

Activity: 14

Merit: 0

Quote from: ?? on ??

Quote from: wrend on April 16, 2012, 06:28:35 AM

Is there a discussion on starting different bitcoin network for each fiat currencies?
Eg USBC, would be held fixed to USD by protocol and a price regulator bot.

What purpose would that serve ?

And why create a system that is now subservient to random governments
pushing the 'on' buton on the printing press every time they're in trouble ?

ok, this way it would be not an useful thing, but maybe you could like to defend yourself from market rallyes...
but maybe this is not the right section to post: i think it's about the economic one..

p.s. sorry for my english, i'll improve it

bluebeard

newbie

Activity: 14

Merit: 0

maybe you could create an option on btc's price (example: you pay someone to have the right, x time later, to buy n btc at a fixed price) but actually i don't know how could you pratically do

Foxpup

legendary

Activity: 4551

Merit: 3445

Vile Vixen and Miss Bitcointalk 2021-2023

No, and furthermore I cannot understand the level of confusion as to what Bitcoin is or even what money is that could provoke such a question. Since bitcoins (and all other forms of money) are traded on the open market, there is nobody who "decides" how much it is worth. It is simply worth exactly what people are willing to pay for it and what people are willing to sell it for. Your question makes no sense as long as a free and open market for currency exchange exists.

wrend

member

Activity: 76

Merit: 10

Is there a discussion on starting different bitcoin network for each fiat currencies?
Eg USBC, would be held fixed to USD by protocol and a price regulator bot.

Topic: How to Fix Bitcoin Price, or is there an Alternative? (Read 740 times)