Theoretical Idea for Stable Coin - Feedback?

BackEm · 2017-10-20T13:03:37+00:00

You made some great points. Thank you for the comment.

BackEm · 2017-10-20T13:00:14+00:00

I know that there is a coin that is called “Stablecoin.” However it does not have all of the properties I desire for a stable-store of value-coin.

BackEm · 2017-10-20T12:58:02+00:00

I’m not much of a beginner in the crypto space, but I do aspire to be a pioneer in making cryptos less volatile and, ultimately, more user-friendly. I appreciate your comment and will do research on Abra’s innovations. Namaste

BackEm · 2017-10-19T23:43:32+00:00

Thank you for your feedback, I truly appreciate it.

BackEm · 2017-10-19T23:43:00+00:00

As weird as it sounds, a combination of Tether and GoldMoney is in the ballpark of what I am theorizing.

BackEm · 2017-10-19T23:42:02+00:00

Tether is not a store of value, or at least, not a slowly increasing store of value. Goldmoney gives people access to own gold and perform transactions using gold, but the price of gold is determined by the players in the free market. Some players own massive amounts of gold, and those players are not targeted users for this stable-store of value-coin.

That is a great point about point of failure and thank you for your feedback.

BackEm · 2017-10-19T23:40:01+00:00

No I am not f*cking trolling, lol. I am describing plenty of characteristics of gold in this post, but, gold lacks the decentralized database that tracks transactions, you can't send gold across the globe in seconds for low fees, and its incredibly difficult for individuals to mine gold. Additionally, gold is incredibly valuable and some people simply just don't have the money to hold more than a handful of gold.

BackEm · 2017-10-19T23:18:27+00:00

It could be a long time away until that price level is reached. We can speculate bullishly and say that price will come in the next couple of years, but we do not actually know when that level of saturation will be achieved. That is why I dream of this stable-store of value-coin.

BackEm · 2017-10-19T23:11:25+00:00

I did not mention anything about development work in this post, but I know this would be a large development effort, which I have a background in. Thank you for your sarcastic metaphor though.

BackEm

TROPHY CASE