I’m not talking about an alt coins that are worth $100 and have no idea of value. I’m talking about an alt coins that is worth $2.5 and the owner will flip it for $200.
That is not what I am talking about. It is the case that in cases of the two extremes – the 1M Satoshi and the $4K Satoshi coins – you will get an amount of money that you won’t want to pay for. That is no way to run a Bitcoin business.
The other scenario is very, very much like Bitcoin in some ways. It would be nice if all exchanges only allowed people to sell their coins and do not allow a new one to be issued to get people interested to buy it. I’m not quite sure how much the market can bear though.
I was really, REALLY confused – and confused on a long time. I really hope someone explains all this more clearly to me since I truly don’t want to be a part of this.
I’m so confused because I thought it was a fair trade. I don’t understand it at all.
Why do I think that a market needs to have a limit or that a limit needs to exist at first? I believe that there won’t be a limit to how high we can go before it collapses and that would create real problem if I am still alive (I hope I’m not, but since my life is still not exactly sure I do not know).
So I’m not in a position to say what would be a fair trade in each case. But I do know that there is something wrong with the way things are as it is.
This problem we already saw in the MtGox fiasco when the USD went down by more than 30% and the exchange went bankrupt which was also caused by people who weren’t very well-known at that time.
I’m not so interested in a system which was never designed for a situation like that. And I’m surprised to hear that people think that it really was designed and it will work fine.
So this is how it is. What should have happened? It seems that there was probably a decision to allow an unlimited amount of users to create an account so there could buy and sell coins but it ended up being too risky. So they decided to limit the transactions to about 10,000/day just for the sake of a temporary solution. But the problem became too big for it to work. As a result
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