- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: 40% of Bitcoin Exchanges Fail; only 30% of those refund your Bitcoins...
Posted on 4/28/13 at 6:01 pm to gizmoflak
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
1
Posted on 4/28/13 at 6:24 pm to ZereauxSum
Maybe we should embrace the wonder currency of the future and start BitcoinDroppings.com (sorry Chicken) to create just such an exchange? There are all sorts of sources of revenue we could generate, not just trading fees. We could sell advertising to merchants who accept Bitcoins. We could mine data from visitors to the website. We could even get lucky and mine a few Bitcoins. Then when we get tired of the venture, or filthy rich enough, we can just pull a disappearing act like 40% of our competitors.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News