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Author Topic: How to Fix Bitcoin Price, or is there an Alternative?  (Read 538 times)
wrend
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April 16, 2012, 11:28:35 AM
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Is there a discussion on starting different bitcoin network for each fiat currencies?
Eg USBC, would be held fixed to USD by protocol and a price regulator bot.
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April 16, 2012, 11:49:17 AM
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No, and furthermore I cannot understand the level of confusion as to what Bitcoin is or even what money is that could provoke such a question. Since bitcoins (and all other forms of money) are traded on the open market, there is nobody who "decides" how much it is worth. It is simply worth exactly what people are willing to pay for it and what people are willing to sell it for. Your question makes no sense as long as a free and open market for currency exchange exists.

Will pretend to do unverifiable things (while actually eating an enchilada-style burrito) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4
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April 16, 2012, 12:57:11 PM
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maybe you could create an option on btc's price (example: you pay someone to have the right, x time later, to buy n btc at a fixed price) but actually i don't know how could you pratically do
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April 16, 2012, 08:13:39 PM
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Is there a discussion on starting different bitcoin network for each fiat currencies?
Eg USBC, would be held fixed to USD by protocol and a price regulator bot.

What purpose would that serve ?

And why create a system that is now subservient to random governments
pushing the 'on' buton on the printing press every time they're in trouble ?

ok, this way it would be not an useful thing, but maybe you could like to defend yourself from market rallyes...
but maybe this is not the right section to post: i think it's about the economic one..


p.s. sorry for my english, i'll improve it Smiley
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April 17, 2012, 12:59:56 AM
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If you can peg BTC to USD, then why not peg all currencies to USD?

Let's have an exchange where EUR is pegged 1:1 with USD. Also, let's peg japanese yen at 1:1 with USD. Also, let's peg Zimbabwe dollars at 1:1 with USD Smiley

Actually, why stop at currencies?! Let's peg all things together at 1:1, so that $1 buys one apple which buys one laptop which buys one house! As long as you have one of something, you could have one of anything!

There is no difference between pegging houses to dollars at a 1:1 ratio vs. pegging Bitcoin to dollars at a 1:1 ratio. Both are equally absurd, and for the same reason.
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