Topic: somebody please just set the minimum price - it's so easy - page 3. (Read 6111 times)

The price could reach a point of no return if it falls below $1. People have lost faith in things before that died, like electric cars, outdoor movies, and free tv. The cool thing is that bitcoin is global, so it's unlikely that every country in the world will be dumb enough to let it happen.

Please elaborate, this is interesting.

Ummm no. If the foundation managed to purchase every single coin, then there would be no market price, except the $1.50 that the foundation offers to sell them at.

In practice, the price would never get to $.99, because a seller would never sell at .99 when he could sell to the foundation at $1

The Khmer Rouge already were successful in ridding their country of money. Cambodia doesn't have a real currency even now.

That's a bold statement that man needs money. If so, then why don't other intelligent animals use money? There are many animals with known language ability. In fact, most animals share resources. They care for their young and even extended family. How much do you charge your children for their breakfast? Have you never done anything for anyone without asking for something in return?

I would have to disagree with this,  someone could purchase all bitcoins for 1dollar, and they still could go to 0.

That's silly. Money is as natural to mankind, and as necessary, as language. If people trade, they will barter for things. If they barter for things, a natural money-commodity will emerge in the marketplace. The world should abandon national fiat monies, not money as a concept.

This is a cool idea which I'd pondered on.  If I were a wealthy person, I would absolutely do this as a form of political activism and to help change the world for the better.

Step 1: Form an endowment or foundation outside the US (maybe some Carribbean nation)
Step 2: Fund this endowment with $21m
Step 3: Create the bylaws for the endowment to dictate that it's sole purpose is to buy all Bitcoins at $1, and sell all Bitcoins at $1.50
Step 4: Make public record of these things, and announce the endowment to the world in a grand John Galt type speech. Make big PR event out of it.

Bitcoins would then never be worth less than $1 each. For the plan to be credible, the wealthy person needs to accept the fact that $21m may be lost in the purchase of a worthless good. If he can commit to that cost, then the plan works.

Come on Peter Thiel, stand up for your principles! No other form of charity I can ponder would be so useful as this to the state of the world. $21m to help guarantee a revolution in the world's monetary system. Pennies.

I forgot to include the obligatory sarcasm emoticon. TBH, I am not anti-bitcoin, I am anti-money. Period. I want to see bitcoin as the next evolutionary step before we get away from money altogether. I see bonds as just another way of selling silk purses.

Nice trick, maybe I didn't get what you were saying? I really thought you were saying it is relative to ixcoins and napkin iou's.

˙sdlǝɥ sıɥʇ ǝdoɥ ı ˙ʎɐʍ ɟo puıʞ plɹoʍ oɹɹɐzıq ɐ uı uıoɔʇıq dsɐɹƃ oʇ ɯǝǝs ǝɹns noʎ `ʍoʍ

So you are anti bitcoin I assume...
Anyways, it would have to be a company that offered a sort of mutual fund that invested in crypto-currency and related businesses, I don't see anyone only pegging it to just bitcoin price, might as well buy bitcoins
If a company say held 25% of funds in BTC, spent some funds on or investing in an exchange, and r&d for new ways to implement cryptocurrencys. Hold some funds in various formats to facilitate transfers - such as gold, euros, usd, yuan, etc.
You would have a nice little power house i guess. To be honest though I wouldn't want to do this, so must company's wouldn't.

Solidcoin will be the one to do these types of things because it is more designed to integrate with the existing system, and there is someone in charge to speak with unlike bitcoin. Companies simply wont deal with nobody, they need a person to hold accountable.
I dont want to get into a solidcoin issue or anything, but bitcoin really isnt intended to be mainstream, and actually has some features that make it less likely to ever become mainstream.

Im thinking while I type which is never good so Im done.


This is kinda dumb, it isn't ridiculous to fully believe that it is "easy" for a significant amount of companies or people to "easily" spend 2.1 mill on an investment.

So it is EASY actually, they do it all the time... refer to my pink sheets link above a few posts ^^^

if its so easy and only requires 2,1 mil, why dont you just do it yourself?

what if 1 btc would equal 1 share of stock in this new company

Let's bundle them with some other investments like IXcoins, Solid Coins, etc. to add value. Hell, I'll even throw in some IOUs I have on paper napkins to really make these bonds soar.

Now your thinkin'!!!
How very wise of you...

Pink Sheets would be interesting.  If some bitcoin investors start such a company and maybe sell bonds to that effect, it will have to effect of making bitcoins far more mainstream than just a currency known to computer geeks.

No, a statement would not be nearly enough IMO.

I should have taken an extra couple seconds to simplify.

http://www.otcmarkets.com/otc-pink/home
Here ^^^ You can learn about market makers in small commodities or stocks.
It really breaks down how and what the market makers do somewhere in the info or faq or w/e.

If we start a company (bitcoin) and want it to have shares (bitcoins) you have to get a company to make the market, or agree to buy and sell no matter what happens. So you have this game of avg investor versus MM (MarketMaker) where the MM wins a hell of a lot of the time.

Just by researching why this is used in pinksheets and otc markets (or on a much much larger scale NYSE Nasdaq etc.) you will be able to see the pro's and con's

the idea is not to control the volatility, but just to guarantee that BTC will never become worthless.
This guarantee may become useless if the price soars, but is important in the beginning (now)

Think of it as face value of the bullion coins. Like, 1 South African Rand on a "krugerrand."

Putting a huge "buy" wall on MtGox is not the same, since everybody knows the wall can disappear any time.

I'm not sure how a "legal-binding obligation" can be formalized, but if a company with considerable reputation and market value simply publishes such a statement, it's already a big deal. I'm sure there are better and more "binding" ways to do it though.

That would be a start