Quote from: dacoinminster on September 20, 2013, 07:34:24 PM

Quote from: cunicula on September 20, 2013, 07:31:26 PM

Quote from: bytemaster on September 20, 2013, 07:25:58 PM

The impossible trinity is true if the only means of controlling the price is 'printing money' or 'destroying' money, but that is not what we have. Furthermore, the analogy breaks down when you factor in 'Sovereign monetary policy'. We are not attempting to Peg BitShares to USD via monetary policy. BitUSD is the result of two sides of a prediction market that neither creates nor destroys value, it merely transfers it from those who bet wrong on future price movement to those who bet right. This can be maintained forever, especially because of automatic margin calls that 'settle the trade' before the long position can lose money.

Absolute, complete, bullshit.

You are paying interest on BTC deposits. The interest rate is determined by the mining algorithm.
This is the monetary policy you are adopting for bitBTC. Bitcoin also has monetary policy. It is different from yours.
You don't magically not have a money supply just because you are not a sovereign. It just becomes a criminal offense now.

You are maintaining a peg. (or well you are using the claim of a peg to attract marks).

You are using free markets. (the better to access your marks).

Review the webpage again:
http://en.wikipedia.org/wiki/Impossible_trinity

Done?

Open your wallet
Put in this address: 1HxNKmUd1YgR9Metop4mHZdGNGEhUfEvcP
Type in as large a number as possible.
Click Send.

Now thank me for saving you from jail time.

Wow. If this is the best argument against bitshares, maybe it's worth another look!

JR, stop throwing popcorn. Let this play out, it has to.