kwukduck (OP)
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Activity: 1937
Merit: 1001
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February 26, 2015, 06:16:53 AM |
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Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.
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14b8PdeWLqK3yi3PrNHMmCvSmvDEKEBh3E
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yui
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February 26, 2015, 06:19:35 AM |
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Then why not claim the new coin to be valued 10 on 1?
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thebitcoinquiz.com
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February 26, 2015, 06:32:50 AM |
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Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.
That's stupid. You can create your own coin and say that its valued 1000times more than bitcoin. Who will buy that stuff? I guess only the creator of that coin will invest in it. You cannot decide price of a coin yourself. Its the people who decide the price. |
Stay hungry. Stay foolish.
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kwukduck (OP)
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Activity: 1937
Merit: 1001
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February 26, 2015, 06:35:28 AM |
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Just peg it... Make your own exchange point..
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14b8PdeWLqK3yi3PrNHMmCvSmvDEKEBh3E
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thebitcoinquiz.com
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February 26, 2015, 06:42:36 AM |
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Just peg it... Make your own exchange point..
But who will create the buying volume? Who will visit your exchange? Who will invest money? The coin creator himself wouldn't. |
Stay hungry. Stay foolish.
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medUSA
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Merit: 1003
--Signature Designs-- http://bit.ly/1Pjbx77
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February 26, 2015, 06:46:53 AM |
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Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1.
You can claim a parity exchange rate. You also need to back it up. The only believable way is to own the same value in bitcoin for alt owners to exchange, similar to the gold-standard. |
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inca
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Activity: 1176
Merit: 1000
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February 26, 2015, 07:44:23 AM |
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Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1.
You can claim a parity exchange rate. You also need to back it up. The only believable way is to own the same value in bitcoin for alt owners to exchange, similar to the gold-standard. Or use a sidechain with a fixed peg. Either way OP is wrong. |
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billyjoeallen
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Activity: 1106
Merit: 1007
Hide your women
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February 26, 2015, 07:54:15 AM |
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Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1.
You can claim a parity exchange rate. You also need to back it up. The only believable way is to own the same value in bitcoin for alt owners to exchange, similar to the gold-standard. Or use a sidechain with a fixed peg. Either way OP is wrong. Anyone can claim anything, but that doesn't make it so. Something is worth what a buyer is willing to pay for it. Nothing more. Nothing less. |
insert coin here:
Dash XfXZL8WL18zzNhaAqWqEziX2bUvyJbrC8s
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc
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Q7
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February 26, 2015, 03:18:09 PM |
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It all depends on whether you want to buy into or invest on the other altcoins. I think a lot had bad experience before with alts so generally people would be wiser by now. Most of it doesn't last for over a year and eventually the fund will keep pouring back again into bitcoin. The only worry is that bag holders of the altcoins will lose trust in cryptos in general once they got cheated.
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NUFCrichard
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Activity: 1218
Merit: 1003
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February 26, 2015, 03:29:15 PM |
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Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.
That is utter tosh, if that is true, why don't you do it and show us? You can even keep all of the coins and you have made yourself a few billion. Unless someone actually calls on you to interchange the token for bitcoin, which you can't, because you don't have them.. Your reasoning would be the same for normal money too, ignore market forces, rates etc, I sa it is worth 1:1, so it is  |
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RodeoX
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Activity: 3066
Merit: 1147
The revolution will be monetized!
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February 26, 2015, 03:36:16 PM |
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Don't worry OP. my new MindCoin has a very limited circulation. I just think them up in batches and I have a great deal for you that will assuage your fears about supply. The exchange rate my mind came up with is 2BTC= 1MC. I will trade you any and all of your worthless, overproduced BTC for my completely hackproof MindCoins! It's your lucky day!!!!111!11!!
Now who should send first?
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dothebeats
Legendary
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Activity: 3654
Merit: 1353
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February 26, 2015, 03:50:39 PM |
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Just peg it... Make your own exchange point..
No demand but a lot of supply = a low price. There are not enough demands on the buyer's side for the price to be high. The coin creator cannot declare his own price since people wouldn't buy it out because of the fact that it's a new coin and nothing has been proven out of it. |
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AtheistAKASaneBrain
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February 26, 2015, 03:53:40 PM |
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Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.
This is ridiculous. You need a big network and volume for a coin to work, so its not a problem. |
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Madness
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February 26, 2015, 04:06:14 PM |
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Nah , It dosen't really matter how much Alternative coin there is out there because they are all cheap copies and Bitcoin is the Original thing . In my opinion they cna do what ever they wants but it will never affects on Bitcoin .
~ Madness
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NotLambchop
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February 26, 2015, 04:41:00 PM |
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Just peg it... Make your own exchange point..
No demand but a lot of supply = a low price. There are not enough demands on the buyer's side for the price to be high... Yeah, 3,600 Bitcoins printed out of thin air mined every day... No wonder BTC's tanking  |
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arvindr
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February 26, 2015, 04:42:48 PM |
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Just peg it... Make your own exchange point..
No demand but a lot of supply = a low price. There are not enough demands on the buyer's side for the price to be high... Yeah, 3,600 Bitcoins printed out of thin air mined every day... No wonder BTC's tanking Well , thats been happening since a long time. |
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NotLambchop
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February 26, 2015, 04:48:33 PM |
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^Seems like the keg's dry. Party's over  *you didn't think it was gonna last, did you? |
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hodlmybtc
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February 26, 2015, 04:52:35 PM |
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Lol is anyone still taking this troll seriously?  |
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NotLambchop
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February 26, 2015, 04:57:10 PM |
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Ohai srs Monero ^ d00d!   |
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Blazr
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February 26, 2015, 05:18:51 PM |
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Anyone can make their own coin on the same fundamentals as bitcoin and claim it's interchangeable 1 on 1. Effectively doubling the amount of bitcoin in circulation. So the real supply is infinite.
Yeah I know. I printed my own monopoly USD notes yesterday, they work just the same as normal USD notes. You can blame me for the latest "whale-dump" on USD. |
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