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Title: ibackbitcoin.org Post by: ripper234 on June 25, 2014, 11:29:37 AM I have an idea for a cool project - ibackbitcoin.org (https://docs.google.com/document/d/1_xOkSiFJmPVb-zH5_oKDqCiCXqy3F-3kYp6_5UnDqCQ/edit#heading=h.ad6fa77rvit5).
I have a bit of money I can use to finance this, but zero (negative?) time to work on it ... looking for good people to join and help me build and manage it. This is not a for-profit endevor, just a cool project that I want to start. If you're serious, feel free to comment and edit on the document, and contact me at info@ibackbitcoin.org High level vision The question What Backs the value of Bitcoin has been discussed to death. The site I’m proposing is a novelty (not for profit) website where people can provide answers to this question by backing up bitcoin themselves. Initial Mockup https://i.imgur.com/BOMBDA3.png Title: Re: ibackbitcoin.org Post by: peled1986 on June 25, 2014, 12:32:43 PM No point to commit to buy 21,000,000 bitcoin for these reasons:
1. It makes people commit for ridiculous low prices. 2. Only the top commitment has meaning (anyone under him is irrelevant) 3. Bitcoin is much more valuable if it is backed by a community and not 1 big whale. Solution: The commitment should be for a minimum amount, for example 100 bitcoin. I back Bitcoin … I promise to buy 100 bitcoin for 10 USD per btc and to not sell them for less. Now we just need to find 209,999 more people :D Title: Re: ibackbitcoin.org Post by: R2D221 on June 25, 2014, 02:50:15 PM This sounds like an interesting idea. I personally would like the price to remain stable at least for a year (be it high or low). However, I also wouldn't commit to a price for the whole 21M bitcoins.
What should be done is a few options for BTC amount (e.g. 1, 100, and 1000). I feel that commiting to a bigger value is unrealistic. |
