RE: The Mighty Quint Rears its Head

You are viewing a single comment's thread from:

The Mighty Quint Rears its Head

in bitshares •  7 years ago 

...could you somehow create a smartcoin like "USDQ" on Bitshares, derived from the Quint, where it always stayed equal to $1 but it's value in relation to Quint would fluctuate based on the value of Gold at any given time (1 USDQ = $1 regardless of the price of gold, which would be equal to about 0.76 Quint if my math is correct, based on 1000 Quints per ounce and a $1300 price per ounce of Gold)

1 USDQ = $1 regardless of the price of gold is not possible as they are two different values with Gold is more of a store/use of value unlike the USD which is a note (FRN) that "is legal tender for all debts public and private" which is debt based and lost more of its value. Having possibly lost 99.2% of its value more or less in over 200 years.

The Quint's main pair should also not be to BTS but that of (bit)GOLD to be of a more stable relationship and not a main market of potential loss of value. There should also not be a transaction fee. For such a percentage opens to long term failure as any market with such percentage fees may eventually break after thirty cycles whatever those cycles may be.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

I think you may need to reread the original post, and my original comment. You are missing the point or haven't fully understood what's being suggested.