Re: High volatility and sudden crashes will kill bitcoin, unless...
As to me, having a few reference values would only make matters terribly worse
Since it will excessively complicate things while not solving the main task, i.e. making the coin less volatile. In fact, with two or more independent factors, you can never be sure that they won't change in unison thus adding to volatility, not taking from it.
Since it will excessively complicate things while not solving the main task, i.e. making the coin less volatile. In fact, with two or more independent factors, you can never be sure that they won't change in unison thus adding to volatility, not taking from it.
If taking a basket that is too small that may occur (e.g. "Oil + Soybeans + Wheat", above all, prices of agricultural goods are often somewhat related and related to oil prices).
But that isn't what I had proposed on the linked thread. The idea is to give merchants the possibility to back Bitcoin's value, and so we would have - if it is successful - a large diversity of products and services backing Bitcoin. Volatility to the upside cannot be fought by the mechanism, but it is volatility to the downside (crashes) that most people fear when they start with Bitcoin. What I want to achieve is that in a crash, people can sleep calm because they know that tomorrow they will be able to buy things at the same BTC price than today.
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Regarding energy, there are different types of it in respect to how much work can be done with it, electricity having the highest capacity to make work, while heat energy the lowest.
I think electricity is also what the OP is trying to peg to Bitcoin. But in his paper he doesn't explain how to exactly make the peg work. Hey OP, ¿dónde estás?
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And just in case, you shouldn't make your threads self-moderated, otherwise many people will stay away from posting in them. No one wants his posts deleted for whatever reason (whether he is in a signature campaign or not)
May be true. Will add a moderation note, as damage is already done
