Dennison Bertram [ARCHIVE] on Nostr: 📅 Original date posted:2013-06-14 📝 Original message:It seems so much easier to ...
📅 Original date posted:2013-06-14
📝 Original message:It seems so much easier to just allow bitcoin testnet to be used more widely for larger scale bitcoin staging. People can assign value as they wish to testnet bitcoins but at their own risk/peril. This incremental amount of value though would allow for testing of larger ideas, ideas that perhaps might not be appropriate in their nascent stages to apply for bitcoin.
Have your seen 'proof of existence'? It's basically a bitcoin notary service that proves a document existed before it gets inserted into the blockchain. While a good idea- you could argue that it's blockchain spam as well- especially if one were to adapt it to high volumes in the future for notarizing permanently things like tweets (for example) or combining it with something like colored coins. These are great ideas, but maybe better suited to a proto bitcoin without needing to fashion a brand new coin.
Sent from my iPhone
On Jun 14, 2013, at 11:25 PM, Andreas Petersson <andreas at petersson.at> wrote:
> 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.
>
>
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📝 Original message:It seems so much easier to just allow bitcoin testnet to be used more widely for larger scale bitcoin staging. People can assign value as they wish to testnet bitcoins but at their own risk/peril. This incremental amount of value though would allow for testing of larger ideas, ideas that perhaps might not be appropriate in their nascent stages to apply for bitcoin.
Have your seen 'proof of existence'? It's basically a bitcoin notary service that proves a document existed before it gets inserted into the blockchain. While a good idea- you could argue that it's blockchain spam as well- especially if one were to adapt it to high volumes in the future for notarizing permanently things like tweets (for example) or combining it with something like colored coins. These are great ideas, but maybe better suited to a proto bitcoin without needing to fashion a brand new coin.
Sent from my iPhone
On Jun 14, 2013, at 11:25 PM, Andreas Petersson <andreas at petersson.at> wrote:
> 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.
>
>
> ------------------------------------------------------------------------------
> This SF.net email is sponsored by Windows:
>
> Build for Windows Store.
>
> http://p.sf.net/sfu/windows-dev2dev
> _______________________________________________
> Bitcoin-development mailing list
> Bitcoin-development at lists.sourceforge.net
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development