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Author Topic: Bitcoin 2.0 - Bitcoin backed by "junk silver" - coin dealers become exchanges  (Read 3091 times)
dutt
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June 22, 2011, 05:28:06 AM
 #21

That's not even Bitcoin that is just e-gold offshore.

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June 22, 2011, 05:35:17 AM
 #22

Dude, just trade junk silver for bitcoins. In 2.0 are you going to make people put up silver? If it is going to be voluntary just do it now. If you are going to make people then show us your guns.

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June 22, 2011, 08:05:35 AM
 #23

After thinking about this some more, I see what is going on.

When new technologies are introduced, we try to relate to them on prior terms. Let me drag out the old reliable 'car analogy'. When cars were first made, people really wanted to figure it out. How they would fit into their lives. At first, most thought going faster than 30 mph would kill you (really), and stayed away.

The first autos were "Horseless carriages", because that is all we could compare it to, not having seen one before. So I see this happening with bitcoin. We want to embrace the freedom and open transactions, but feel the need to saddle it with "Backing it with something". Or, "Hey, lets just make it a fractional reserve currency - you know, just so it is familiar."

It is the same struggle that any new technology has to deal with.

I think we need to adopt it, and make up terms along the way, just like we've done for the computer over the years - and the internet.


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June 22, 2011, 10:32:51 AM
 #24

In my opinion, bitcoin 1.0 will fail.  Yes, I may be wrong, this thread is not to debate that.  This thread is for my idea for Bitcoin 2.0 which I am not ambitious enough to head myself as I want to focus on my family.

I realize some of you feel bitcoin is backed.  However, too many people want a currency backed by something tangible.  Enter "junk silver".  The junk silver I would recommend having back Bitcoin 2.0 would be pre 1932-1964 quarters and 1946-1964 dimes as they have the same metal makeup.  This solves the problem of a tangible backing.  In addition, this all of a sudden makes every coin shop in the world a distributed exchange which we all understand the need for.

However, this idea WOULD likely require a central repository to hold the junk silver dimes and quarters UNLESS some specific ironclad deal was worked out with coin dealers.

Deposit or buy a pre 1965 dime and get 1 bitcoin 2.0 from the central exchange or the coin dealer who has bitcoin.  Buy or deposit a 1964 or older quarter and get 2.50 bitcoin 2.0.  They can then be traded, purchased, and sold anonymously just like bitcoin 1.0.  Your junk silver becomes digitized.  But at any time you can withdraw it for junk silver.  It will ALWAYS have value, be reasonably stable, and have distributed exchanges yet still have most of the benefits of bitcoin 1.0.

I hope someone proceeds with this or a like idea.

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June 22, 2011, 11:38:13 AM
 #25

Your idea is nothing new. It is not bitcoin 2.0. It is e-gold 299.0

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June 22, 2011, 11:39:42 AM
 #26

Maybe Bitcoin 2.0 backed by already proven currency Bitcoin 1.0?

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June 22, 2011, 11:44:56 AM
 #27

Why does this thread have so many replies?

Do you people really take OP's idea seriously? I mean seriously... someone tell me what's going on here
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June 22, 2011, 11:50:50 AM
 #28

You're an idiot.
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