Feasibility of Creating a 5-BitCoin Currency

[MysteryMiner]

Both of these proposals is total BS

Bitcoins are hard to understand for majority of population is they are now. And the Bitcoin is excellent as it is now.

[Jutarul]

Both of these proposals is total BS

Bitcoins are hard to understand for majority of population is they are now. And the Bitcoin is excellent sufficient as it is now.

FTFY. Also please make clear which proposals you mean?

[Zeek_W]

Isn't there already a BTC5 coin?

https://www.casascius.com/

 

[BrannigansLaw]

Sometimes this community is embarrassing to be on. Especially when you get the numptys predicting the future, there is a lot of shite flying out of people mouths and I keep getting it in the eye.

[Ryland R. Taylor-Almanza]

I could be wrong, but I'm pretty sure OP meant an entirely new cryptocurrency (let's call it, 5coin) with a new block chain and everything, but one 5coin would always be equal to 5 bitcoins. If that is the case, it would very hard (pretty much impossible) to keep the two currencies in sync. Maybe if there was someone that had a shit ton of both currencies, and always traded 5 Bitcoin/5coin, but the chances of that are pretty slim too.

[Richy_T]

In the same way a $5 bill is worth five $1 bills.  What challenges would this present?  Is this technically feasible?  Would it help stabilize the currency?  Discuss.

What is one bitcoin?

If you convert have five one-bitcoins and you convert that to five bitcoins in a forest and there's nobody there to hear, does anybody care?

[Richy_T]

I could be wrong, but I'm pretty sure OP meant an entirely new cryptocurrency (let's call it, 5coin) with a new block chain and everything, but one 5coin would always be equal to 5 bitcoins. If that is the case, it would very hard (pretty much impossible) to keep the two currencies in sync. Maybe if there was someone that had a shit ton of both currencies, and always traded 5 Bitcoin/5coin, but the chances of that are pretty slim too.

Ask Norman Lamont how trying to force a fixed exchange rate goes. I think I just heard George Soros chuckle.