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From: LORD HIS EXCELLENCY JAMES HRMH <willtech@live.com.au>
To: Peter Todd <pete@petertodd.org>, Satoshin <satoshin@mybitcoincenter.com>,
Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>,
"Bitcoin Protocol Discussion" <bitcoin-dev@lists.linuxfoundation.org>,
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Thread-Topic: [bitcoin-dev] Softfork proposal for minimum price of $50k USD/BTC
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Date: Mon, 1 Apr 2019 08:55:00 +0000
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Subject: Re: [bitcoin-dev] Softfork proposal for minimum price of
$50k USD/BTC
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It is April 1st. Nonetheless, I am agreed that the first part to track the =
exchange rate in USD (why not use Gold $/oz?) has merit if properly impleme=
nted. Voluntary data is notoriously difficult to enforce for accuracy.
Regards,
________________________________
From: bitcoin-dev-bounces@lists.linuxfoundation.org <bitcoin-dev-bounces@li=
sts.linuxfoundation.org> on behalf of Satoshin via bitcoin-dev <bitcoin-dev=
@lists.linuxfoundation.org>
Sent: Monday, 1 April 2019 2:07 PM
To: Peter Todd; Bitcoin Protocol Discussion
Subject: Re: [bitcoin-dev] Softfork proposal for minimum price of $50k USD/=
BTC
Hi Everyone,
First portion of your First BIP is excellent- with this field the prot=
ocol can actually attain HFT- by pinning of value at time of trade for lat=
er 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.
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 no=
t tethering to perceived norms. If the US dollar was crashed and it went do=
wn to Venezuelan currency levels [hypothetically then where would your 50k =
limit lead the currency} Never say never-
Best Regards
XX
> On Mar 31, 2019, at 9:11 PM, Peter Todd via bitcoin-dev <bitcoin-dev@list=
s.linuxfoundation.org> wrote:
>
> On Mon, Apr 01, 2019 at 12:30:34AM +0000, Luke Dashjr via bitcoin-dev wro=
te:
>> Certain parts of the community have been selling bitcoins for unreasonab=
ly
>> 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.
>>
>> 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.
>
> I believe I've found a serious vulnerability in your proposal: there's no=
limit
> on the maximum supply of USD.
>
> --
> https://petertodd.org 'peter'[:-1]@petertodd.org
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
_______________________________________________
bitcoin-dev mailing list
bitcoin-dev@lists.linuxfoundation.org
https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
--_000_PS2P216MB01799D11B4BC9CDB376302959D550PS2P216MB0179KORP_
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<html>
<head>
<meta http-equiv=3D"Content-Type" content=3D"text/html; charset=3Dus-ascii"=
>
<style type=3D"text/css" style=3D"display:none;"> P {margin-top:0;margin-bo=
ttom:0;} </style>
</head>
<body dir=3D"ltr">
<div style=3D"font-family: Calibri, Helvetica, sans-serif; font-size: 12pt;=
color: rgb(0, 0, 0);">
It is April 1st. Nonetheless, I am agreed that the first part to track the =
exchange rate in USD (why not use Gold $/oz?) has merit if properly impleme=
nted. Voluntary data is notoriously difficult to enforce for accuracy.<br>
</div>
<div style=3D"font-family: Calibri, Helvetica, sans-serif; font-size: 12pt;=
color: rgb(0, 0, 0);">
<br>
</div>
<div id=3D"signature">
<div style=3D"font-family:Calibri,Helvetica,sans-serif; font-size:12pt; col=
or:rgb(0,0,0)">
Regards,<br>
</div>
</div>
<div id=3D"appendonsend"></div>
<hr style=3D"display:inline-block;width:98%" tabindex=3D"-1">
<div id=3D"divRplyFwdMsg" dir=3D"ltr"><font face=3D"Calibri, sans-serif" st=
yle=3D"font-size:11pt" color=3D"#000000"><b>From:</b> bitcoin-dev-bounces@l=
ists.linuxfoundation.org <bitcoin-dev-bounces@lists.linuxfoundation.org&=
gt; on behalf of Satoshin via bitcoin-dev <bitcoin-dev@lists.linuxfounda=
tion.org><br>
<b>Sent:</b> Monday, 1 April 2019 2:07 PM<br>
<b>To:</b> Peter Todd; Bitcoin Protocol Discussion<br>
<b>Subject:</b> Re: [bitcoin-dev] Softfork proposal for minimum price of $5=
0k USD/BTC</font>
<div> </div>
</div>
<div class=3D"BodyFragment"><font size=3D"2"><span style=3D"font-size:11pt;=
">
<div class=3D"PlainText">Hi Everyone,<br>
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.<br>
<br>
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.
<br>
If one has ever seen a stock drop 90% in one day then you would understand =
the volatile nature of future valuation.<br>
<br>
Prices have to be able to go higher and lower based on market demand and no=
t tethering to perceived norms. If the US dollar was crashed and it went do=
wn to Venezuelan currency levels [hypothetically then where would your 50k =
limit lead the currency} Never say
never- <br>
<br>
Best Regards<br>
XX<br>
<br>
> On Mar 31, 2019, at 9:11 PM, Peter Todd via bitcoin-dev <bitcoin-de=
v@lists.linuxfoundation.org> wrote:<br>
> <br>
> On Mon, Apr 01, 2019 at 12:30:34AM +0000, Luke Dashjr via bitcoin-=
dev wrote:<br>
>> Certain parts of the community have been selling bitcoins for unre=
asonably<br>
>> low prices. This has halted Bitcoin's valuation at $20k and even d=
riven the<br>
>> price down below $15k! However, clearly Bitcoin is worth much more=
than<br>
>> that, and there is widespread support for higher prices.<br>
>> <br>
>> In light of this, I have written and implemented two BIPs: one to =
add a<br>
>> signed price field to Bitcoin transactions, and the other to softf=
ork a<br>
>> minimum price of $50k USD/BTC a year from today.<br>
> <br>
> I believe I've found a serious vulnerability in your proposal: there's=
no limit<br>
> on the maximum supply of USD.<br>
> <br>
> -- <br>
> <a href=3D"https://petertodd.org">https://petertodd.org</a> 'peter'[:-=
1]@petertodd.org<br>
> _______________________________________________<br>
> bitcoin-dev mailing list<br>
> bitcoin-dev@lists.linuxfoundation.org<br>
> <a href=3D"https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-=
dev">https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev</a><br>
<br>
_______________________________________________<br>
bitcoin-dev mailing list<br>
bitcoin-dev@lists.linuxfoundation.org<br>
<a href=3D"https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev">=
https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev</a><br>
</div>
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