📅 Original date posted:2013-06-14
📝 Original message: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.
Andreas Petersson [ARCHIVE] /
npub10z…qsg9a
2023-06-07 15:03:23
in reply to nevent1q…ejg7
Author Public Key
npub10zyxjrelgpp85qc93pnt8e4yx0jsxm27sn9lsypkhlrttjpmjktqkqsg9aPublished at
2023-06-07 15:03:23Event JSON
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"content": "📅 Original date posted:2013-06-14\n📝 Original message:my initial idea (not sure if it is good) was to have an asymetric market.\nlets say you want to create altcoin ALC. ALC are merge-mined with btc,\nthough without block reward.\nto create 1 ALC you have two choices: destroy 1 BTC, or buy 1 ALC for a\nfloating amount from an exchange.\n\nin my book, this would automatically lead to a slightly lower price for\n1 ALC, and an automatic ceiling of 1 BTC, since you could always\nsacrifice BTC to gain ALC.\nbut it would not diverge drastically lower, since apparently somebody\nwas willing to destroy 1 BTC to create it. maybe it could even trade\nslightly higher because traded ALC could be spendable instantly while\nsacrificed ALC would need a 120 blocks maturing period.\nthe \"beauty\" of that system is also it does not inflate the\ncryptocurrency realm.\n\nAndreas\n\nAm 14.06.2013 23:10, schrieb Luke-Jr:\n\u003e Note that the \"earn a mixture of BTC and TBC, but not both in full volume\" \n\u003e only works for TBC because the price is by definition fixed with BTC.\n\u003e I'm not sure how you could implement something like this for an altcoin where \n\u003e the price is floating independently of Bitcoin.. that is, how you would know \n\u003e the right amount of Bitcoin to require sacrificed.",
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