Quote from: Sannyasi on July 09, 2011, 03:49:13 AM

Quote from: kwhcoin on July 09, 2011, 03:45:08 AM

Quote from: gusti on July 09, 2011, 03:20:06 AM

so, bitcoin is like a failed goldcoin ... smart thinking Roll Eyes

If Goldcoin should have its backing fail, then it would be possible to have it automatically switch to function exactly like Bitcoin which has no backing. The thought experiment of Goldcoin was designed to be a Bitcoin clone except for the tweak to allow it to be backed. Automatically undoing that tweak in an emergency situation of losing its backing could make it just like Bitcoin.

wrong- bitcoin is backed by time- literally the only constant/unchanging thing in the universe.

Time is relative...