Ninjastic
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Board Altcoin Discussion
Re: Ixcoin TODO
by
jamaer
on 03/06/2014, 20:30:42 UTC
Quote from: FrictionlessCoin on June 03, 2014, 07:48:48 PM
Quote from: jamaer on June 03, 2014, 07:07:12 PM
Quote from: FrictionlessCoin on June 03, 2014, 06:56:20 PM
A metacoin is the same as a user defined coin.  There is no difference.  You can bet with a user asset versus another user asset.  

Anyone (IXC foundation included) can chose to distribute a new asset in any way it pleases.  Via burning IXC, by paying a fee, etc.  

No, it is not. How many times we need to go through this?

A metacoin is not issued by anyone, it is created within the implementation. Therefore it is not controlled by anyone, and it will exists as long as the protocol exists. Any user definied asset is issued by someone, and requires trust to the issuer (additionally with some legal implications). I could issue a coin mimicin my proposed metacoin 2b), but I can also cancel the coin at any time. I'm sure you can imagine reasons (mob/feds, my family) for doing that.

You need to clarify the difference between issuance and distribution.

With Bitcoin, technically the developers issued 21 million coins and provided sha-256 mining as a way to distribute said coins.

WTF? Why are you playing silly word games? This has nothing to do with "the difference between issuance and distribution". It is simply than no one can issue more CP metacoins or cancel the metacoin as nobody can cancel bitcoin or make 50 million more bitcoins. Any CP user definied currency can be canceled at any time or more of the currency can be created at the will of the issuer. I guess you understood that already, but instead of being man enough to admit your (repeated) false statement, you chose to play childish "muddying the waters" games. I have no time for those, so have fun with yourself.