Author: Dennison Bertram 2013-06-15 00:09:09
Published on: 2013-06-15T00:09:09+00:00
The author suggests that using bitcoin testnet more widely for larger scale bitcoin staging would be a simpler option. This would allow testing of larger ideas without risking the value of actual bitcoins. The author also mentions 'proof of existence', which is a bitcoin notary service that proves a document existed before it gets inserted into the blockchain. While the idea is good, it could be considered blockchain spam if used to notarize things like tweets or combined with colored coins. In an email exchange, Andreas Petersson suggests an asymmetrical market where merge-mined altcoin (ALC) would be created without block rewards. To create 1 ALC, one would have two choices: destroy 1 BTC or buy 1 ALC from an exchange at a floating amount. Petersson believes this system would lead to a slightly lower price for 1 ALC and an automatic ceiling of 1 BTC since you could always sacrifice BTC to gain ALC. The system does not inflate the cryptocurrency realm.
Updated on: 2023-06-06T17:18:05.517933+00:00