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Email this9:50 am
April 6, 2013
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HermanH said
…
Overall, I propose that it does not matter, either way. If the funds all go to the creator/wand-waver, fine. My premise was, "What happens when all the coins are available?" The current system puts them out in dribs and drabs. I suggested a one-time distribution.
It does matter.
If the $500,000 I paid for a house is returned to me by the seller, then I really didn't pay $500,000 for the house and the reported $500,000 "market value" of the house is a sham.
Yes, if most of those bitcoin trades for around US$138 per 0.001 coin are actually between wallets of related people who return the money to their buyer friends, then that US$138,000 per coin market value is also a sham!
12:24 pm
April 14, 2021
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Norman1 said
If the $500,000 I paid for a house is returned to me by the seller, then I really didn't pay $500,000 for the house and the reported $500,000 "market value" of the house is a sham.
It should not matter. The amount you specified is simply setting the ground floor. A value of $0 or $500K is just the starting point.
If I can develop a new coin using DeepSeek overnight, keep all the mining/transactions privately controlled (but on public distributed network, to satisfy the perpetual digital ledger requirement), and have the maximum 21 million coins offered to the market tomorrow morning, what happens then? All 21 million are immediately available and starting at a value of $0.
9:28 pm
April 6, 2013
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Yes, it does matter. It is not a market price when there's no actual trade at that price.
If all the coins were offered in the morning, the first trades from matching bids from the buyers and asks from the seller determine the starting market value. The starting market value is not determined by any unaccepted bids or the free initial deposit of the coins into the wallet of the coin's creator.
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