From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 41B351A24 for ; Mon, 1 Apr 2019 03:29:52 +0000 (UTC) X-Greylist: delayed 00:22:07 by SQLgrey-1.7.6 Received: from gateway21.websitewelcome.com (gateway21.websitewelcome.com [192.185.46.113]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id B712287 for ; Mon, 1 Apr 2019 03:29:51 +0000 (UTC) Received: from cm11.websitewelcome.com (cm11.websitewelcome.com [100.42.49.5]) by gateway21.websitewelcome.com (Postfix) with ESMTP id B316B400C9259 for ; Sun, 31 Mar 2019 22:07:43 -0500 (CDT) Received: from gator4219.hostgator.com ([108.167.189.45]) by cmsmtp with SMTP id AnIVhLE1CdnCeAnIVhB5fp; Sun, 31 Mar 2019 22:07:43 -0500 X-Authority-Reason: nr=8 DKIM-Signature: v=1; a=rsa-sha256; q=dns/txt; c=relaxed/relaxed; d=mybitcoincenter.com; s=default; h=To:References:Message-Id: Content-Transfer-Encoding:Date:In-Reply-To:From:Subject:Mime-Version: Content-Type:Sender:Reply-To:Cc:Content-ID:Content-Description:Resent-Date: Resent-From:Resent-Sender:Resent-To:Resent-Cc:Resent-Message-ID:List-Id: List-Help:List-Unsubscribe:List-Subscribe:List-Post:List-Owner:List-Archive; bh=SKKtrhoT6tUZKD4ZmRevXXoD9ivsFxwm6jWiBnCIOXc=; b=jdvuF+JUb4mVt/kZxummc+VsE QOKMobuhrR/HIIBxCM8SdpdxXtFc4nEXNgSPYpwCT3izy+DqaBDMfhvdIYz+kyZAxYKwez2w50lts UNWC05b0911OMtR53ZKGNqVx/5ijDjj3N27Gq3J0HYmnuBM8kjdl6ib86nN4RuMpmpN9QftG8mLgH MOaeWxS/e5vwS7s7Opm4sJdN5aMuFisN851w9CYrwgdFQX7+JA/4StfTd8qAZv2flrIezSOwwcZT+ NOevjL4aYo5CEJ6J9pgINjx/PzzsuiZOSznobc/uvz/0vhka23p28wzSB8t7J6BPz1gF9KpVM6Xpj O2B8jtXkg==; Received: from ool-18b96cf0.dyn.optonline.net ([24.185.108.240]:59221 helo=[10.0.0.10]) by gator4219.hostgator.com with esmtpsa (TLSv1:ECDHE-RSA-AES256-SHA:256) (Exim 4.91) (envelope-from ) id 1hAnIV-002ztg-H2; Sun, 31 Mar 2019 22:07:43 -0500 Content-Type: text/plain; charset=us-ascii Mime-Version: 1.0 (Mac OS X Mail 8.2 \(2104\)) From: Satoshin In-Reply-To: <20190401011112.6icdkyjocf4qh5oz@petertodd.org> Date: Sun, 31 Mar 2019 23:07:41 -0400 Content-Transfer-Encoding: quoted-printable Message-Id: <5D9DDB14-9E0F-419B-A069-25448F1FA473@mybitcoincenter.com> References: <201904010030.34825.luke@dashjr.org> <20190401011112.6icdkyjocf4qh5oz@petertodd.org> To: Peter Todd , Bitcoin Protocol Discussion X-Mailer: Apple Mail (2.2104) X-AntiAbuse: This header was added to track abuse, please include it with any abuse report X-AntiAbuse: Primary Hostname - gator4219.hostgator.com X-AntiAbuse: Original Domain - lists.linuxfoundation.org X-AntiAbuse: Originator/Caller UID/GID - [47 12] / [47 12] X-AntiAbuse: Sender Address Domain - mybitcoincenter.com X-BWhitelist: no X-Source-IP: 24.185.108.240 X-Source-L: No X-Exim-ID: 1hAnIV-002ztg-H2 X-Source: X-Source-Args: X-Source-Dir: X-Source-Sender: ool-18b96cf0.dyn.optonline.net ([10.0.0.10]) [24.185.108.240]:59221 X-Source-Auth: satoshin@mybitcoincenter.com X-Email-Count: 1 X-Source-Cap: bXlvZmZpY2VzO215b2ZmaWNlcztnYXRvcjQyMTkuaG9zdGdhdG9yLmNvbQ== X-Local-Domain: yes X-Spam-Status: No, score=-2.0 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID, DKIM_VALID_AU, RCVD_IN_DNSWL_NONE autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org X-Mailman-Approved-At: Mon, 01 Apr 2019 04:23:42 +0000 Subject: Re: [bitcoin-dev] Softfork proposal for minimum price of $50k USD/BTC X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Mon, 01 Apr 2019 03:29:52 -0000 Hi Everyone, First portion of your First BIP is excellent- with this field the = protocol can actually attain HFT- by pinning of value at time of trade = for later unblock scaling as a mark to market tool which is used in HFT. The Second BIP of a minimum price would never allow Bitcoin to pass the = SEC test of a viable asset. - I hope that portion was actually a Joke = since it makes no sense economically.=20 If one has ever seen a stock drop 90% in one day then you would = understand the volatile nature of future valuation. Prices have to be able to go higher and lower based on market demand and = not tethering to perceived norms. If the US dollar was crashed and it = went down to Venezuelan currency levels [hypothetically then where would = your 50k limit lead the currency} Never say never-=20 Best Regards XX =20 > On Mar 31, 2019, at 9:11 PM, Peter Todd via bitcoin-dev = wrote: >=20 > On Mon, Apr 01, 2019 at 12:30:34AM +0000, Luke Dashjr via bitcoin-dev = wrote: >> Certain parts of the community have been selling bitcoins for = unreasonably >> low prices. This has halted Bitcoin's valuation at $20k and even = driven the >> price down below $15k! However, clearly Bitcoin is worth much more = than >> that, and there is widespread support for higher prices. >>=20 >> In light of this, I have written and implemented two BIPs: one to add = a >> signed price field to Bitcoin transactions, and the other to softfork = a >> minimum price of $50k USD/BTC a year from today. >=20 > I believe I've found a serious vulnerability in your proposal: there's = no limit > on the maximum supply of USD. >=20 > --=20 > https://petertodd.org 'peter'[:-1]@petertodd.org > _______________________________________________ > bitcoin-dev mailing list > bitcoin-dev@lists.linuxfoundation.org > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev