Post
Topic
Board Development & Technical Discussion
Re: Thought experiment. Coding a stable exchange rate.
by
Gr.Green
on 25/06/2011, 02:50:31 UTC
Essentially, you're proposing to build a system where 1BTC = 1USD. When the Fed prints a new $Gazillion, the same amount of BTC will flood the market. The Fed would control BTC which defeats the purpose of Bitcoin and makes it dependent on constant human intervention whereas now it needs no human input at all. Robots could use Bitcoin to trade between themselves.