Post
Topic
Board Project Development
Re: Goldcoin and Stablecoin proposals
by
sunyag
on 17/07/2011, 18:35:10 UTC

In a very short time I've come to admire both your work and thought process. And I am trying to think through the essence of the problem you're dealing with, and I suppose that it's:

centralization V decentralization

or stating the same thing another way:

stability V accuracy

With centralization we get currency stability, which is vital for trade, but we lose the accuracy (truth) of the currency's true market worth. We might also say that we lose the integrity, honesty, of the market by exposing the currency to enormous risk vis-a-vis the fiat of centralization powers, people (or person).

With decentralization we get accuracy (honesty), which is vital for integrity. And integrity is the cornerstone of the currency's strength, its durability, its ability to fight off competitors, usurpers, exploiters. Whereas a centralized currency will always be on the knife's edge of destruction, from within or without, because of its targetable point of failure. However, the price for this durability is stability. We lose stability when valuation is turned over to the market.

From a psychological perspective, I suppose the problem could be characterized as one-man's-reality Vs. the reality-of-the-collective...and then all of the inherent pros and cons that flow out from each.

...all of this leads me back to thinking that your darknet exchange is so important.