Topic: somebody please just set the minimum price - it's so easy - page 4. (Read 6113 times)
I would like to see some company like FB pin their credits to BTC. Would it really be that much of a risk?
OK, I understand that explanation. I just don't understand the need. I think people have become accustomed to economies that are manipulated by inflation and somehow think that volatility is a bad thing. Volatility will naturally decrease as the bitcoin economy swells. The bitcoin economy right now is limited to currency traders and is not yet a real economy. I don't think anyone will complain about high volatility while the purchasing value of real goods and services grows as bitcoin skyrockets.
Can somebody just promise to back the price up?
Say, somebody with a real name (or a real company)
could issue a legally binding obligation to buy BTC
for at least 0.1$, no matter what. This only takes 2 100 000 USD to guarantee that forever and less than a million for the next couple of years.
HAHAHAHA never change bitcoiners!
He is talking about getting a "underwriter" to make the market. They don't need any control over it, they are at risk themselves.
The only thing is, do we want a world class professional with a company behind him manipulating our small market this early?
But just to be clear it is the same thing as someone coming with a bunch of money and putting in conflicting orders.
Buy 1M BTC at $4
Sell 1M BTC at $5
Since no one will break those walls, you make the profits from the variations in between.
Someone sells 10 at $4, then someone buys 10 at $5, you make 10 bucks
Once you get a obligation of a market maker, it basically adds stability and liquidity.
Only thing is, who are they entering into a contract with??? it would have to be MtGox or same.
The only thing is, do we want a world class professional with a company behind him manipulating our small market this early?
But just to be clear it is the same thing as someone coming with a bunch of money and putting in conflicting orders.
Buy 1M BTC at $4
Sell 1M BTC at $5
Since no one will break those walls, you make the profits from the variations in between.
Someone sells 10 at $4, then someone buys 10 at $5, you make 10 bucks
Once you get a obligation of a market maker, it basically adds stability and liquidity.
Only thing is, who are they entering into a contract with??? it would have to be MtGox or same.
It will be extremely complicated for any company to issue a legally binding obligation on a decentralized p2p "currency". What are the considerations to be given to that company in return for such an obligation? There should also be an agreement for such an obligation, an agreement between the company and who?
The minimum consideration for bitcoin is the payment for electricity to an electricity provider. Other that, there is nothing standing between bitcoin and any private or public firm. Their obligation would simply be their product or service. An example might be paying in bitcoins for advertising clicks and allow the bitcoin to be used for micropayments or cash value after a fee for exchange.
It will be extremely complicated for any company to issue a legally binding obligation on a decentralized p2p "currency". What are the considerations to be given to that company in return for such an obligation? There should also be an agreement for such an obligation, an agreement between the company and who?
faith, that's enough.
Exactly, it depends all on consumer sentiments.
faith is easier to incite with legally-binding obligation rather than just words.
faith, that's enough.
Exactly, it depends all on consumer sentiments.
Cryptocurrency like bitcoin is a fundamentally new technology. These take time to be adopted by the clueless masses. You are right though, it probably will be some big player that creates a killer app using bitcoin.
faith, that's enough.
I will set it as one Satoshi
Can somebody just promise to back the price up?
Say, somebody with a real name (or a real company)
could issue a legally binding obligation to buy BTC
for at least 0.1$, no matter what. This only takes 2 100 000 USD to guarantee that forever and less than a million for the next couple of years.
Most likely you will never need to actually buy BTC at that price; just proving that you are able
to do that is good enough.
I guess there are enough people with much BTC and much USD
to be able to do that and to have interest in that. The benefits are obvious: more trust in the currency,
hence wider acceptance.
--
long-time lurker, scarce poster
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