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Subject: Re: [Bitcoin-development] is there a way to do bitcoin-staging?
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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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