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["A.J. Maurin" <coyo AT darkdna.net>]

What the heck is this "parallel bonds" problem?

Niels Dettenbach (Syndicat.com) wrote:
> Quinn Wood <wood.quinn.s AT gmail.com> schrieb:
> > Bitcoin is a prime example of that. People are far too focused on
> > using it as a stock symbol to see the potential it offers.
> Yes but no,
> bitcoin and derivates currently are only usable for short term or instant 
> payments / investments against other goods, but not for saving money over 
> longer timespans.
>
> The risks are still very high as nobody thinks about the fact that there is 
> potentially no limit of the amount of bonds like BC under other names. There 
> is no reason why others should not start a completely parallel bitcoin number 
> space and use it as money.
>
> This means that a rising amount of such bonds will bring down the value of 
> each bitcoin currency unit over the time. There is potentially no limit for 
> the amount of parallel bonds.
>
> YES, we need currencies independent from any state or organisations 
> influence, but BC will be just ONE solution for just a part of applications.
>
> But the risk that bitcoins will divide more then once in it's price - for 
> example during a farmers year who sells his products in autum to pay for new 
> seeds next spring is very high att and as long as there is no solution of the 
> parallel bonds problem i'm wrote above here.
>
> We accept BC byself for our global internet hosting services but in a way we 
> can take over the currency risks of BC - this limites the amount of 
> applications significantly.
>
>
> cheers,
>
>
> Niels.