Quote from: landomata on February 16, 2014, 06:54:42 PM

Quote from: Fry on February 15, 2014, 05:29:18 AM

Would it be possible to do the Following with these Scripts?
Forgers, Stakholders or some other trusted entitys post regulary what they think the current USD value of NXT is to the Blockchain.
The script Calculates somehow an average USD price.
The Script now uses its own funds to Buy and Sell an NXT Asset called USD at that price.
Which results in having an Asset USD that has a stable USD value without having a Counterparty Risks (at least as long as the Script has enough NXT to buy that USD Asset).

Autonomous pegging is it even possible?

USD Asset price can be set extremely low...

I think a nice use case would be obtaining data from a public website. If we can do this in a decentralized way, it solves the whole trustless broadcast of data feed problem. Once that problem is solved, then betting against the data feeds becomes possible. Once that is possible, CFD and other derivatives can be created.

If the forging node published an AM of what it thought the website said, it could be verified by a "randomly" selected subset of forgers (dont want to Ddos the website!) and as long as a super-majority agreed with the data, it would be officially place in the NXT blockchain

I think we would need a way for a script to do an http get or post call, alternatively, the NXT core needs to provide this support directly. i hope we are open to such radical and crazy ideas. If we can solve this, it will open up a lot of possibilities.

James