Quote from: brg444 on November 02, 2014, 04:46:47 PM

Quote from: Erdogan on November 02, 2014, 03:12:37 PM

I see a sidecoin as an altcoin, but with an interesting bootstrap method.

The peg is not really possible, unless there is a full reserve, that is, the bitcoins are paralyzed while the corresponding sidecoins exist. Forget about independent coin creation in the sidechain aka govcoin. That makes the new sidecoins unbacked, and the peg fails.

Troubling how after so many pages of arguments on sidechains you can still utter such nonsense

YES the peg is possible. YES there is a full reserve. OF COURSE the bitcoins are paralyzed while the corresponding sidecoins exist.

Quote from: adam3us on November 01, 2014, 06:15:56 PM

Correct. I think its worth clarifying that the peg is algorithmic, because its seems from the thread that some people may not understand that. You, personally, can ask the network automatically to swap unlimited quantities of BTC on the sidechain for BTC on the main bitcoin chain.

Ok, assuing full reserve. Since there is a peg, the value is not allowed to differ, but still it is two different coins that by themselves would have different value in the market. The result is binary, either the sidecoin takes over (if the value is higher) or it disappears into oblivion (if the value is lower).