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re: 40% of Bitcoin Exchanges Fail; only 30% of those refund your Bitcoins...
Posted on 4/28/13 at 4:20 pm to ZereauxSum
Posted on 4/28/13 at 4:20 pm to ZereauxSum
1
Posted on 4/28/13 at 6:01 pm to gizmoflak
In this article, he poses a hypothetical:
Then bases his solution on the opposite of his hypothetical:
Besides, isn't this just the introduction of a central bank that has zero authority or credibility? Bitcoin's value has always been 100% supply/demand. Now I'm supposed to believe a bunch of anonymous people when they tell me nothing is worth something?
quote:
but what if all the exchange markets are shut down?
Then bases his solution on the opposite of his hypothetical:
quote:
I have suggested that some entity, possibly the Bitcoin Foundation (and this can be done on a non-profit basis), make a market in bitcoin and broadcast a current price for bitcoin (a peg) that various exchanges and merchants can use as a benchmark.
quote:
maintaining this peg would require lots of buying and selling on the various exchanges to maintain an inventory (of bitcoin) that is necessary to maintain a peg
Besides, isn't this just the introduction of a central bank that has zero authority or credibility? Bitcoin's value has always been 100% supply/demand. Now I'm supposed to believe a bunch of anonymous people when they tell me nothing is worth something?
This post was edited on 4/28/13 at 6:02 pm
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