Post
Topic
Board Economics
Re: An Optimal Basket of Reliably Tethered Fiat Dollars
by
Gpx
on 10/12/2017, 18:00:13 UTC
This post seems to be some where in the middle of a dialog, so some of it is unclear to me, but I'm interested in the topic.
I'm curious where to find data on where and how much of a coin is being bought (you mention S. Korea with Bitcoin). Where did you find this data?

As for being tethered to fiat currencies, well this topic gets large quickly, so maybe I'll just touch briefly on a couple of points.

1st: what is the point of tethering a crypto to fiat? I can see the benefits for the current controllers of fiats (gov't, central banks, etc.) but there is little benefit to the average citizen other than those attributable to electronic payment methods. I can see banks getting on board in order to usurp the crypto threat to their fiat currencies and widespread acceptance of a crypto (such as every debit card reader in retail stores) could get wide acceptance and usage by the general public, but it's essentially just a digital form pf the fiat currency with all the controls and problems that come with that. I would hope the crypto community would resist that.

I posted recently on the concept of a crypto tethered to a fiat (the US dollar) but adjusted for the real rate of inflation (Such as the rate that shadowstats reports) so that holding crypto would protect you from the devaluation of the fiat/ price inflation (appearing to be a profit compared to fiat). This could have widespread appeal that removes control of the crypto from both gov'ts, central banks, and speculators.  

Your thoughts?

My inflation coin post:
https://bitcointalk.org/index.php?topic=2557758.msg26059138#msg26059138