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From: Andreas Petersson <andreas@petersson.at>
To: bitcoin-development@lists.sourceforge.net
Subject: Re: [Bitcoin-development] is there a way to do bitcoin-staging?
Date: Fri, 14 Jun 2013 23:25:44 +0200	[thread overview]
Message-ID: <51BB8A58.7000308@petersson.at> (raw)
In-Reply-To: <201306142110.09687.luke@dashjr.org>

my initial idea (not sure if it is good) was to have an asymetric market.
lets say you want to create altcoin ALC. ALC are merge-mined with btc,
though without block reward.
to create 1 ALC you have two choices: destroy 1 BTC, or buy 1 ALC for a
floating amount from an exchange.

in my book, this would automatically lead to a slightly lower price for
1 ALC, and an automatic ceiling of 1 BTC, since you could always
sacrifice BTC to gain ALC.
but it would not diverge drastically lower, since apparently somebody
was willing to destroy 1 BTC to create it. maybe it could even trade
slightly higher because traded ALC could be spendable instantly while
sacrificed ALC would need a 120 blocks maturing period.
the "beauty" of that system is also it does not inflate the
cryptocurrency realm.

Andreas

Am 14.06.2013 23:10, schrieb Luke-Jr:
> Note that the "earn a mixture of BTC and TBC, but not both in full volume" 
> only works for TBC because the price is by definition fixed with BTC.
> I'm not sure how you could implement something like this for an altcoin where 
> the price is floating independently of Bitcoin.. that is, how you would know 
> the right amount of Bitcoin to require sacrificed.




  reply	other threads:[~2013-06-14 21:45 UTC|newest]

Thread overview: 27+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2013-05-19 13:23 [Bitcoin-development] is there a way to do bitcoin-staging? Adam Back
2013-05-19 15:08 ` Peter Vessenes
2013-05-20  6:34   ` Alan Reiner
2013-10-14 18:08     ` Adam Back
2013-10-14 18:21       ` Jeff Garzik
2013-11-21 20:22       ` coinscoins
2013-11-21 20:35       ` Melvin Carvalho
2013-11-21 21:11         ` [Bitcoin-development] bitcoin 1.x & 0.x in parallel (Re: is there a way to do bitcoin-staging?) Adam Back
2014-03-16 22:58       ` [Bitcoin-development] 2-way pegging " Adam Back
2014-03-16 23:22         ` Jorge Timón
2014-03-17 15:55         ` Gregory Maxwell
2013-10-14 18:43     ` [Bitcoin-development] is there a way to do bitcoin-staging? Michael Gronager
2013-10-14 20:20       ` Alan Reiner
2013-05-22  3:37   ` zooko
2013-05-22  4:12     ` Jeff Garzik
2013-05-20  7:12 ` Luke-Jr
2013-06-13 13:39 ` Adam Back
2013-06-14 19:20   ` Peter Todd
2013-06-14 20:50     ` Adam Back
2013-06-14 21:10       ` Luke-Jr
2013-06-14 21:25         ` Andreas Petersson [this message]
2013-06-15  0:09           ` Dennison Bertram
2013-06-15  1:57             ` Luke-Jr
2013-06-15  8:43               ` Dennison Bertram
2013-06-15 11:18 ` Melvin Carvalho
2013-06-15 13:26   ` Dennison Bertram
2013-06-16 15:46     ` Dennison Bertram

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