Pegged Crypto Currency
I was wondering if anyone has considered pegging the value of Siacoin directly to storage. The main problem today with crypto currency is that the price is very volatile, so its hard to use as a medium of exchange. What the Sia network is, is like a decentralized asset. If you could peg the value of Sia directly to the value of storage, for example 1 Sia coin = 1 MB of storage, you could create a sort of "asset backed crypto currency." This would allow the price of Sia to stabilize and would create really a one of a kind crypto currency.
The suggestion you make also creates a centralized crypto currency... because in order to "peg the value".... SOMEONE has to establish the price.. and crypto currency is not about a single or even multi-tiered entity making value decisions over assets everyone can hold. Crypto is about PRIVATE ownership of value based assets, and all holders/owners of that value based asset have control over it via the open market to do with it what they wish.
Understand the basic nature of crypto currency... and what you have suggested as a problem is actually not a problem that haunts crypto- its the solution to the problem that haunts modern day fiat currency.
Im still trying to work out how to get my coin off the exchange into my wallet.
And a bigger problem, the exchange im with only excepts bitcoin and litecoin.
Shapeshif has removed Sia off the list.
So at the moment these coins can not be sold.
So i don't see this volatility your talking about.
If you have any information on how i can exchange these coins to bitcoin or litecoin.
If woould be much appreciated.
@andyg bittrex I believe is working. Should be able to exchange there.0
Make sure you tag me @bryan if you need to me respond.
Forum Mod. I cannot fix transactions. I can't help with Mac or Linux.
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