Post
Topic
Board Bitcoin Discussion
Re: We need a Bitcoin Foundation for more trust
by
repentance
on 17/10/2011, 21:02:42 UTC


This organization will accept donations in fiat money and at least guarantees the minimum price on bitcoins. For example, if the organization took donations for the $ 1 million, it can guarantee a price not less than 1/7.5 = $ 0.13 per bitcoin.


It would only guarantee that minimum price if no more Bitcoins were being produced.  In reality, to maintain the guarantee you would need additional donations every day or the value of that guarantee would drop as new coins were produced.