Post
Topic
Board Development & Technical Discussion
Re: [PROPOSAL] The Second Bitcoin Whitepaper
by
jtimon
on 29/07/2011, 07:43:39 UTC
I move from the other thread, although I don't like the tittle of this one. Even if your proposal is possible to implement, you can't apply all this in the bitcoin chain. You better find a new name for your coins.

I think maybe I can understand it better with examples.

Oil is at 10 btc, I  want an oilCoin and you want and anti-oilCoin.
What's next? How much each of us put in escrow?

Oil rises to 11 btc. Does anything happen to the escrow? Do I get 1 btc or something?
Although you gave the direction, here we still have to resolve the problem (define the solution in a more concrete manner) of how the system knows the spot price of oil.

You said somewhere that the spot price of oil is not the same as the price of an oilCoin. Then how are oilcoins related to oil in any meaningful way?