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Title: Making a new coin as a savingsaccount, possible? Post by: TriggerHappyCoin on December 19, 2017, 04:19:06 PM Hi,
I was thinking, is it possible to create your own cryptocoin (via waves for example), and store all your money into it. This way you wont have the regular interest (in europe a stunning 0,01%!!). It will not be effected by dips and/or highs on the cryptomarket, it will just be sitting there for your own pleasure. It will be your own savingsaccount on the blockchain. Are there risks involved in this idea? Title: Re: Making a new coin as a savingsaccount, possible? Post by: CarDioLogic on December 19, 2017, 06:29:55 PM What about the value of the said crypto in itself? If it's just you holding, for saving purposes, it wouldn't be very valuable, if there isn't other people buying and selling, right?
I'm not an expert, but if money/fiat has value due to the trust people place in it (and use it daily) then that crypto wouldn't have any value because no one else is using it. It needs to be acknowledged and acepted by the community. Title: Re: Making a new coin as a savingsaccount, possible? Post by: TriggerHappyCoin on December 20, 2017, 10:05:40 AM Correct, its just the money of one person. So no volatility at all.
The trust is the value of one person. Its like putting your money in a sock, but then in blockchain. You can use it for two things: - just deposit money (permanent) - as a temperary store to withdraw your profits before buying the next dip. |