That’s why it’s just called ‘trading for profit’ not pegging. If i buy btc low then sell it high am I ‘pegging’ or just being a smart trader? Clearly, that isn’t pegging. Pegging is about the official aspect. It’s about consensus and following through on a promise.
IMO, liquidity providing can be and should be profitable.
Yes, I’ll trade on BKC/BTC, with 10-3% spread setting, this is the spontaneously trade in free market.
You can call it “peg”, “trade”, " speculation" or whatever, what I plan to do is same. I am ticket scalper for profit.
BTW, in order to differentiate BKC from NBT, I suggest B&C sell BKC far from 1$ by referencing buying power in1990s.
Sabreiib:
I even have an idea that because Hayek died in 1992, and 1$ at that time equals to $1.71 today, according to http://www.usinflationcalculator.com/To memorize this master and remind/educate people that after his death the “solid” USD has devalued a lot! The BKC price is the best ads. We peg BKC to 1$ value in 1992!
ChrisS:
Brilliant idea, the 1992 dollar peg.
But hasn’t the government changed the rules of the CPI since 1992, probably a couple times? We would have to do it to our standards.
Sabreiib:
And I strongly suggest BKC pegged to 1$'s buying power in 1992. Reasons below:
If we peg BKC to 1$ initially in 2016, some central bank haters may think BKC is just another USD token.
If we peg at 1.7USD(can be discussed further), curiousness will arise in cryptoworld. Why BKC pegged to such interesting number? The price is the best ads in this field after all.
Hayek spend his whole life fighting against “big brother”, and fortunately he saw his predict of USSR’s crash; unfortunatey he didn’t see his good money dream coming ture. Anyone wanna issue private money will be put into prision.
However, Satoshi’s blockchain tech makes his dream feasible, Hayek died, but never his theory. We memorize him by pegging one USD buying power when he passed away in 1992. Good money is late for Hayek, but not late for saving the world from toxic FIAT!
I guess this will make Hayek fans (many liberalists in crypto world) touched.
Pegging BKC to 1$ real value in the year NuBits got launched would be more interesting IMO…
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