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From: Satoshin <satoshin@mybitcoincenter.com>
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References: <201904010030.34825.luke@dashjr.org>
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To: Peter Todd <pete@petertodd.org>,
Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
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Subject: Re: [bitcoin-dev] Softfork proposal for minimum price of $50k
USD/BTC
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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 =
<bitcoin-dev@lists.linuxfoundation.org> 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
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