Quote from: evgonoba on April 19, 2013, 04:19:09 AM

Call it Bitcoin as far as I'm concerned because everything else can function the same as Bitcoin does now. But to receive the coins you don't just 'mine' some imaginary things, you deposit shares of some REAL thing...shares of US publicly traded companies in the form of ETFs (exchange traded fund).

Then it isn't bitcoin, calling it bitcoin is just adding another nail in this altcoins coffin

Quote from: evgonoba on April 19, 2013, 04:19:09 AM

It would require the function of a custodian (which happens all the time in the securities world) to hold and transfer the shares of the ETF when someone deposits or cashes out their ETF shares.

I.E. Central point of failure/corruption, bitcoin solves this problem

Quote from: evgonoba on April 19, 2013, 04:19:09 AM

The idea that Bitcoin requires no such trust in anyone is possibly true in some abstract way, but it certainly does require the trust OF someone.

I don't think i follow... Trust is not needed in bitcoin because there is no printing press, there is no central point of failure/corruption, there is no one person that can control or take away the network, the creation rate follows laws of math that cannot be broken, they cannot be faked

if all you are saying is that you need to trust the person you are doing business with, well of course, but that is not a limitation of bitcoin.