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[didIplaywell]

deleted after total backlash

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[Cantsay]

Hello! I have developed a flatcoin whose purpose is to allow to migrate from the fiat economic system to a full bitcoin based economy.P)

Admin will not delete your projects thread just because they don’t like it and the same is also true for scam sites.

If you want others to contribute and tell you what they think about what you’re trying to develop then share a link to it, so that we can all see if there’s any way we can help you with the little suggestions we can (if it’s actually a useful project ).

Before spamming further about it, I wanted to be sure that this is the right place to propose this. Would an admin confirm? (or delete? :

“Spamming” is when mods will be forced to intervene and most likely delete your posts depending on how you intend to spam, so it will be best for you to focus on just a single thread.

[didIplaywell]

Thank you for your answer, I have now published everything, I hope the community will find it valuable.

[FatFork]

I wanted to be sure that this is the right place to propose this.

If it's an altcoin (term generally includes all cryptocurrencies and tokens that are not Bitcoin and not related to the Bitcoin blockchain) you should move this to the Altcoin Discussion or Announcements (Altcoins) board. This board is specifically for discussions about Bitcoin and Bitcoin-related topics.

[didIplaywell]

This board is specifically for discussions about Bitcoin and Bitcoin-related topics.

This is strictly a bitcoin related project. It solely aims to the adoption of bitcoin, the flatcoin being only a "transitional token" (to be discarded), which in turn also depends on bitcoin for its definition.

[Yamane_Keto]

According to what I understand, flatcoin is suitable to be a stage more than being a currency, meaning a stage in which the transition from fiat money to Bitcoin is then burned. If that is the case, then Bitcoin does not need this stage and it is implemented when some party bans Bitcoin, then the company does the following:

1) Create Token X and allow transfer to it.
2) Possibility of converting from TokenX to Bitcoin and vice versa.
3) Possibility of withdrawal.

This model was popular when PayPal was banning Bitcoin. At that time, PayPal balance was converted into tokens, and then you could convert the tokens into Bitcoin.

[didIplaywell]

This model was popular when PayPal was banning Bitcoin. At that time, PayPal balance was converted into tokens, and then you could convert the tokens into Bitcoin.

This is an interesting use I did not thought of, thank you for bringing it to the table.

Just to clarify, the idea of this flatcoin concept is not to be a Bitcoin replacement, nor a proxy token. It's purpose is to allow for a stable transition regarding volatility. A flatcoin can be a mean for the mass of people to migrate to bitcoin by avoiding both fiat inflation and bitcoin volatility.

[Yamane_Keto]

Just to clarify, the idea of this flatcoin concept is not to be a Bitcoin replacement, nor a proxy token. It's purpose is to allow for a stable transition regarding volatility. A flatcoin can be a mean for the mass of people to migrate to bitcoin by avoiding both fiat inflation and bitcoin volatility.

1) In the white paper, you defined the Virtually Hybrid Token VHT, which is a stablecoin based on the dollar, and it is not much different from LUNA, and the guarantee is the BTC pool, which wll be bad if the Bitcoin reserve decreased severely, which made it impossible to guarantee the stability of the exchange rate. How will you solve this problem? (If your clients have a lot of VHT and the value of Bitcoin decreases, you need more of it to maintain the price of the stable currency.)

So instead, decentralized ideas exist, such as L-USDT as a sidechain on Bitcoin, or centralized solutions as I mentioned above.


2) You did not solve the problem of price fluctuations, but rather invented a new stablecoin similar to Luna, and as users experience with such stablecoins, they will prefer DAI or USDT/L-USDT or even above token idea.

[didIplaywell]

... How will you solve this problem? ...
... You did not solve the problem of price fluctuations ...

Yamane, I hope this do not comes out as mean, but no, it's not a stablecoin like Luna in the slightest, and to all of your questions, the answers are all thoroughly answered in the paper.

We can discuss how you think that my solutions do not solve this problems, or fail, or etc. But the answer to "it's like Luna" is just: "no". VHT is not a stablecoin like Luna, is a flatcoin. The bitcoin reserve can not decrease. The exchange rate problem solution is described in the paper. I do not intend to solve bitcoin price fluctuations, this is not a price control protocol. I do not intend to create another stablecoin, the paper explicitly states that stablecoins are a bad idea regarding crypto adoption.

[dkbit98]

This is strictly a bitcoin related project. It solely aims to the adoption of bitcoin, the flatcoin being only a "transitional token" (to be discarded), which in turn also depends on bitcoin for its definition.

You can't say that this is strictly bitcoin related project when you have plan to create separate token on some shitcoin blockchain.
There is even clear mention of uniswap crap in your paper, that means it will probably be launched on ethereum or similar cloned centralized chains.
Something is related with bitcoin only if it's using some of the bitcoin second layer solutions.
Sorry for saying this, but all this sounds just like another ''revolutionary'' token that won't solve anything.
Prove me wrong.

So instead, decentralized ideas exist, such as L-USDT as a sidechain on Bitcoin, or centralized solutions as I mentioned above.

L-USDT is not perfect, but I don't know anything better at the moment.
There is also stablesats.com project on Lightning Network that pegs with fiat currencies, and it's backed by bitcoin.