A new better bitcoin - capital coin

[brg444]

I think you need to watch this video.

https://www.youtube.com/watch?v=gKkfhi8Eaiw&

Money doesn't have to be backed by anything.

:35 gold has value because that is what someone is willing to pay for it.
1:20 what he is saying is true, unless somethig that comes along is better.  A capital coin or one the inflates the least is best.  If you can actually delete coins, better.  The only way you are going to get 10% + deletion is via using your coins value as capital.


4:25 it needs to be scarce, is not deflating even better?
5:30 there are other metals too copper, gold might be worthless in 5,000 years once we start mining moon.
6:13 one think gold is better that bitcoin, gold is a commodity and has other uses like filling in your teeth.  If bitcoin owned disneyland, we could get free tickets.

what problem do you have with deflation ?

bitcoin has plenty of other uses apart from being a store of value, much more so than gold actually.

again, money does not need backing. bitcoin is money. a capital coin is stupid. you can issue shares of a corporation with colored coins. but "backing" a coin to the economy of a corporation? stupid

[BitCoinNutJob]

Why Bitcoin will fail.

Bitcoin is backed by nothing and eventually a new cryptocoin coin based on productive assets will come along and displace it.

Its not "nothing" its back by lightweight assets.  These lightweight assets are its strength not weakness.  It is highly adaptable vs assets which take greater management.

Someone will have to build a better lightweight system to displace BTC.

[Get.BTC.Now]

Just stone the non believer

[thecast]

Is this a shill thread or i am imagining things? 

[DaveSaldana123]

Many of them tried, all failed. Bitcoin will stay. Period.

[SW725]

Many of them tried, all failed. Bitcoin will stay. Period.

It has been like that for many years. No lesson learned.

[mllenios]

Many of them tried, all failed. Bitcoin will stay. Period.

It has been like that for many years. No lesson learned.

I think they can also make real money if they start new coin again.

[steelhouse]

1. what problem do you have with deflation ?
I want a coin with deflation 10%.

2. money does not need backing.
What is the difference between sand in a dog dish and bitcoin?  The only difference is a group a collective sees it as money. 

3. A capital coin is stupid. you can issue shares of a corporation with colored coins. but "backing" a coin to the economy of a corporation? stupid
Imagine a coin with $6 billion in market cap with nothing.
Imagine a coin with $6 billion in market cap with $6 billion in Coca Cola stock.
Which is more? Would you know any difference in use?

[steelhouse]

Why Bitcoin will fail.

Bitcoin is backed by nothing and eventually a new cryptocoin coin based on productive assets will come along and displace it.

Its not "nothing" its back by lightweight assets.  These lightweight assets are its strength not weakness.  It is highly adaptable vs assets which take greater management.

Someone will have to build a better lightweight system to displace BTC.

Here is idea, there are a few alternative cryptocurrencies with no inflation and small. I0c and IXc (infinitecoin) but there are about 5 probably.  Now

1. offer to set-up a nonprofit that people would donate bitcoin for the sole purpose to delete one of these coins.
2.  Say you get 30 BTC.  
3.  Then just run the miners on bitcoin and delete the i0c or iXc or infinitecoin coin.

The question I ask is how high can a coin like i0c go.  This is the original i0c not i/oc.  There will be a steady daily buyer and deleter.  I think this would be a good test.   The beauty is this is all possibly legal as there is no business just some capital deleting coins.  It would be an extremely interesting paper to write if you are an economics major.

[SueGiant]

Many of them tried, all failed. Bitcoin will stay. Period.

It has been like that for many years. No lesson learned.

I think they can also make real money if they start new coin again.

Well, how can they do that?

[realbtcdealers4real]

Another shitcoin with a shilling OP.

[arxwn]

All currency represents is trust and in trust terms bitcoin delivers big.

[spazzdla]

Nope won't work, google "liberaty dollar"  MERICA will come beat your slave ass down for this idea.  A slave attempting to be free is met with extreme brutality from the slavers.

[spazzdla]

Some people simply have a hard time wrapping their head around why Bitcoin is valuable. OP has a long history of misunderstanding Bitcoin. No amount of discussion is going to change that.

OP if your idea is truly superior, simply implement it and allow it to compete with Bitcoin in the market. There is no point in trying to convince anyone.

It is not superior.. the gov will insta steal all of the gold and put you in prison for life.  The gov are the worst type of scum there is.. it is imperative to understand this.

[btcbug]

#2 Suppose Bitcoin was backed by Coca-Cola Stock.   $6 billion of stock, would generate $187 million in dividends alone annually.   Imagine if some blind entity to bitcoin was buying $187 million of bitcoin and destroying them, every year as long as coca-cola exists.  Suppose this was another group and a blackbox not tied to the Bitcoin foundation.  As a bitcoin owner which would you rather own:

Bitcoin #1 backed by nothing zero inflation.
Bitcoin #2 with the blackbox destroying $187 million, presently about 0.4 million coins a year.

That's what a capital or business coin offers.  Now transaction fees might have to be higher to offer protection as there would be no money printing.  One thing I notice about AZO stock above, it has yet to have a losing year this century.

Bitcoin
2013 $757
2012 $14
2011 $4.7
2010 $.30

I think I get what you're saying. It's an interesting idea!

To answer your question, ideally I would rather own the Capital Coin, but...

What happens to the value of the coin when the underlying asset drops in value? For example, Coca Cola goes bankrupt? In that case I would rather own the "unbacked" Bitcoin.

As others pointed out it would introducing centralization again in the form of managers, which is also risky.

I think it would be cool to have additional layers on top of BTC where you could take a portion of BTC and create the Cap Coin. If you could figure out a way to do this and address the management/trust concerns it would be great.

[kutaka]

Original post is seriously retarded.

[The One]

BTC is not backed by nothing. It's backed by hundreds and thousands of miners.

Like a hamster on a wheel when they get off there is nothing.

This is stupid. Your understanding of economics is zero.

When a Hamster gets off a wheel.............the wheel is still there......the wheel has value.....the wheel doesn't disappear unless Spock beamed it up to USS Enterprise.

[steelhouse]

#2 Suppose Bitcoin was backed by Coca-Cola Stock.   $6 billion of stock, would generate $187 million in dividends alone annually.   Imagine if some blind entity to bitcoin was buying $187 million of bitcoin and destroying them, every year as long as coca-cola exists.  Suppose this was another group and a blackbox not tied to the Bitcoin foundation.  As a bitcoin owner which would you rather own:

Bitcoin #1 backed by nothing zero inflation.
Bitcoin #2 with the blackbox destroying $187 million, presently about 0.4 million coins a year.

That's what a capital or business coin offers.  Now transaction fees might have to be higher to offer protection as there would be no money printing.  One thing I notice about AZO stock above, it has yet to have a losing year this century.

Bitcoin
2013 $757
2012 $14
2011 $4.7
2010 $.30

I think I get what you're saying. It's an interesting idea!

To answer your question, ideally I would rather own the Capital Coin, but...

What happens to the value of the coin when the underlying asset drops in value? For example, Coca Cola goes bankrupt? In that case I would rather own the "unbacked" Bitcoin.

As others pointed out it would introducing centralization again in the form of managers, which is also risky.

I think it would be cool to have additional layers on top of BTC where you could take a portion of BTC and create the Cap Coin. If you could figure out a way to do this and address the management/trust concerns it would be great.

You don't have to have just one stock, but if bitcoin owned $6 billion of KO stock, they could probably offer a can of soda with the bitcoin B symbol on it. 

What happens to the value of the coin when the underlying asset drops in value?  just use the dividends for deletion.
For example, Coca Cola goes bankrupt?  you could hold multiple stocks and decentralized.  The stock could be helds across the world, the only requirment is bitcoin is deleted.

As others pointed out it would introducing centralization again in the form of managers, which is also risky.  The capital might be in no way owned by bitcoin, only a foundation like the Gates Foundation.  The gates foundation lists their holding and we could actually mirror their holdings.  We all know bitcoin is just as important as the Gates foundation.  We could even start sending letters to non-profit foundations if they would support deleting bitcoin for us.  We could also write letters to hedge fund managers to see if they would donate to the Bitcoin Deletion Foundation.  Thus you have deletion and growth working together to allow the working class keep their money.

[steelhouse]

BTC is not backed by nothing. It's backed by hundreds and thousands of miners.

Like a hamster on a wheel when they get off there is nothing.

This is stupid. Your understanding of economics is zero.

When a Hamster gets off a wheel.............the wheel is still there......the wheel has value.....the wheel doesn't disappear unless Spock beamed it up to USS Enterprise.

The work is gone.   The work not transferred to a material object to be used later is lost.  If you go hunting if you don't come back with a duck your trip is a worthless.

[Unbelive]

BTC is not backed by nothing. It's backed by hundreds and thousands of miners.

Like a hamster on a wheel when they get off there is nothing.

This is stupid. Your understanding of economics is zero.

When a Hamster gets off a wheel.............the wheel is still there......the wheel has value.....the wheel doesn't disappear unless Spock beamed it up to USS Enterprise.

The work is gone.   The work not transferred to a material object to be used later is lost.  If you go hunting if you don't come back with a duck your trip is a worthless.

Bitcoin is the wheel, not the hamster. hamster is thing behind btc, thing behind USD, thing behind euro. Unless you will go back and start trading with sheep's, you will always trade with wheel and not hamster.