Quote from: Doum on November 21, 2017, 11:37:41 AM

I like the idea, but won't this result in a stationary price of the coin? Also, it could be exploited as there may be a lag between exchange APIs and the actual pricing of the coin, so people may be able to use nicehash to pump value and ruin the integrity of the coin. We'd also need a few dedicated devs working on this feature, which aren't available at the moment until the pre-mine is completed.
A little plus note, I think volatile cryptocurrencies (like bitcoin, crazy rising and falls) are much more fun to take part in, as it can result in mooning, and increased profit projections may get more involved with the project.

Yes, the fiat exchange rate would be rather stationary (never more than +30% or −80% around target) except if the target rate isnt performed against fiat. No this cant be exploited as demonstrated by difficulty retargeting of dynamiccoin (just use the median value of highest ask or bid between the rate of exchanges arbitrage ensure price wont vary). And several exchanges propose a price access through web sockets so we can have exchange rate lag less than a second (though this is all nodes which needs to query the rate).
Im willing to to help for importing relevant dynamiccoin code and adding a minimal transaction fee requirement. on the deflation side the mining reward amount shouldnt be fixed but varying according to price (I think this imply no reward halving should be done).

The real problem is it creates an other 51% attack surface were if theres less than 3 exchanges, one of the exchange could literally tank the currency value by broadcasting inaccurate price over its ᴀᴘɪ (which is why dynamiCCoin price detection doesnt work). If theres three different exchanges, this is less a problem because if an exchange goes rogue, price isnt affected.
This is why I think exchange price access should be scriptable and configurable through the .conf file instead of being hard coded (though we could hard code it initially and propose the retrocompatible scriptable upgrade later). Scriptable ᴀᴘɪ access would make easy to add or withdraw rogue exchanges quickly.

And unlike dynamic coin, if the price is destroyed, damage should always get recovered one day through the destruction mechanism (were talking about destroying several times more than what is created through mining). Once the destruction mechanism is active because of exchange rate, things
And again cryptocrurrencies which claims to provide fiat rely on wishfull thinking from capitalization level, but dont act on https://en.wikipedia.org/wiki/Quantity_theory_of_money which states that if you decrease supply, price should decrease (deflation for counteraction inflation).