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Author Topic: QUESTION ABOUT COINS  (Read 219 times)
DannaWonder
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October 06, 2017, 10:05:16 AM
 #1

Will it be possible if to develop a coin with another coin with fixed conversion with it. Let's say coinA = 10coinB and coinB is used for a gambling site with a chance to increase or decrease its value and CoinA has an option to be broken to coinB to supply the demand.

So if coinB is $0.01 you have an option to sell your coinA for $1.00 for someone who needs coinB to play on the site.

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alexholden
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October 06, 2017, 12:02:32 PM
 #2

You can, but it won't be a cryptocurrency as the price will be artificial. So you can create token with some exact value derived from other currency/coin.

odolvlobo
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October 06, 2017, 05:13:25 PM
 #3

You can do it if you use Ethereum and one of the coins is ETH. Otherwise, it may be possible with some severe restrictions or by relying on a third party.

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HenrikL
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October 06, 2017, 05:23:22 PM
 #4

Will it be possible if to develop a coin with another coin with fixed conversion with it. Let's say coinA = 10coinB and coinB is used for a gambling site with a chance to increase or decrease its value and CoinA has an option to be broken to coinB to supply the demand.

So if coinB is $0.01 you have an option to sell your coinA for $1.00 for someone who needs coinB to play on the site.

No, that's not how market economies work. Look at, for example, Venezuela, where there is an official fixed rate and a black market rate. The latter reflects the real value of the currency. Luckily, in the crypto-currency world, you won't be put in jail for participating in a marketplace.

The other option is if you have lots of cash and can prop your own currency up in the market place, e.g. how some European currencies are pegged to the Euro.
chrisst
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October 06, 2017, 05:43:48 PM
 #5

you ask for development view or Generally

any way all this coins are open source so you can do what you need . but your way is so risky so careful
DannaWonder
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October 06, 2017, 06:42:37 PM
 #6

You can, but it won't be a cryptocurrency as the price will be artificial. So you can create token with some exact value derived from other currency/coin.


thanks for the reply

So I can create a Coin then set a fixed conversion for a token that can be used on the website and even if the coin's price change the conversion will not be affected right?

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DannaWonder
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October 06, 2017, 06:44:57 PM
 #7

Will it be possible if to develop a coin with another coin with fixed conversion with it. Let's say coinA = 10coinB and coinB is used for a gambling site with a chance to increase or decrease its value and CoinA has an option to be broken to coinB to supply the demand.

So if coinB is $0.01 you have an option to sell your coinA for $1.00 for someone who needs coinB to play on the site.

No, that's not how market economies work. Look at, for example, Venezuela, where there is an official fixed rate and a black market rate. The latter reflects the real value of the currency. Luckily, in the crypto-currency world, you won't be put in jail for participating in a marketplace.

The other option is if you have lots of cash and can prop your own currency up in the market place, e.g. how some European currencies are pegged to the Euro.

That's why I am asking when it comes to cryptocurrency not on the real world money.

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pflmagic
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October 06, 2017, 08:49:41 PM
 #8

Will it be possible if to develop a coin with another coin with fixed conversion with it. Let's say coinA = 10coinB and coinB is used for a gambling site with a chance to increase or decrease its value and CoinA has an option to be broken to coinB to supply the demand.

So if coinB is $0.01 you have an option to sell your coinA for $1.00 for someone who needs coinB to play on the site.

No, that's not how market economies work. Look at, for example, Venezuela, where there is an official fixed rate and a black market rate. The latter reflects the real value of the currency. Luckily, in the crypto-currency world, you won't be put in jail for participating in a marketplace.

The other option is if you have lots of cash and can prop your own currency up in the market place, e.g. how some European currencies are pegged to the Euro.

That's why I am asking when it comes to cryptocurrency not on the real world money.

Not without 'artificial' propping. Aka one 'controlling member or source' supporting the dips and peaks.

There could be an implementation like EC credits in Factom though.
EC credits are tethered to a certain amount of USD, so $1USD always equates to the same number of EC.
The price of Factoids can increase / decrease you simply just buy MORE / LESS of the EC credit.
You can only buy EC with Factoids.
The price between EC and USD is stable but the factoid is just worth more or less.

Though a big factor for its success is
1. EC can't be traded
2. EC will be burnt upon use.

Bringing this back to your example. Coin A could be the variable. Coin B is used to interact with a gambling website but - cannot be traded and will be burnt upon use. Then from a fiat point of view Coin B could always be worth the same.

deadsilent
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October 06, 2017, 10:34:57 PM
 #9

Actually you can. But i don't think it will click when it hits the market. It will just a like a chip at casinos.
Fixed value. What's the use of that? You are trying to create a cryptocurrency, right? So obviously your casino must be online casino. Most popular casinos these days used popular coins in the market. Bitcoin, litecoin, xmr or Ethereum. But some online casino now created their own token like Moneypot and Bitdice. It will be available on market soon. They are going to sell it on exchanges. Many people will buy and many poeple will also dump. The price will also go up and down. That's how it works. If you are going to create a fixed value token. Market will not accept it because the supply amd demand will determine what will be the price.

Sure you can create one. But i think it will be ideal for your site only and not in the market because i don't think market will accept it.

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October 07, 2017, 12:03:53 AM
 #10

With capital controls a value can be fixed but what that does is restrict the exchange of value.    So with very small amounts of one coin to another you would have that fixed value.    People might pretend that every coin into the millions is then worth the fixed value but it would not be true as the market is illiquid and basically false.

Sometimes entire countries resort to these tactics however they also have a great many citizens who are working within that currency, it can make some sense.   Mostly it requires that nation is productive and does not trade especially outside its borders as that conversion is restricted.   Its just not really feasible, if you have some amazing product backing your currency I guess its a thing you can try as you have then a demand for your coin via a unique product

DannaWonder
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October 07, 2017, 04:57:19 AM
 #11

Yes its like a chip in the casino, CoinA is the one that will be in the market with a fixed conversion for chips used on the site (coinB). coinB will not be burnt you have an option to trade it back to coinA to trade it to other currency.

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October 09, 2017, 05:35:27 PM
 #12

Yes its like a chip in the casino, CoinA is the one that will be in the market with a fixed conversion for chips used on the site (coinB). coinB will not be burnt you have an option to trade it back to coinA to trade it to other currency.


It's pretty good reasoning for a beginner, but do not make too hasty decisions, because with patience your profits will be able to multiply by a good bitcoin market situation.

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GreatBug
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October 09, 2017, 08:16:47 PM
 #13

Will it be possible if to develop a coin with another coin with fixed conversion with it. Let's say coinA = 10coinB and coinB is used for a gambling site with a chance to increase or decrease its value and CoinA has an option to be broken to coinB to supply the demand.

So if coinB is $0.01 you have an option to sell your coinA for $1.00 for someone who needs coinB to play on the site.
If you use ethereum this is a chance, otherwise it will not be possible. Regards.

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