Why we need at least one "altcoin"

[markm]

Allowing fiat to insinuate itself into your operations can be perilous. At best it tends to invoke all kinds of overhead in the way of regulations, which likely in turn lead to expenses. At worst it can pretty much rule out being able to operate at all.

Thus it seems there is a real need for at least one altcoin, whichever one, just some alt currency to use as the "backdrop" in techniques such as the one described at https://bitcointalk.org/index.php?topic=103699.0

-MarkM-

[markm]

It turns out that relative rate of appreciation or depreciation with respect to other assets is also very important.

Denominating debts in bitcoin seems to have led to a lot of disasters, simply because bitcoin has tended to appreciate so fast that it is hard for anything, even dividends paid out by publicly held companies, to keep up with it.

Fortunately for debtors, alternatives exist.

General Financial Corp for example has managed to refinance a number of debtors by offering (secured) loans denominated in DeVCoin.

-MarkM-