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RE: The Mighty Quint Rears its Head

in #bitshares7 years ago

...could you somehow create a smartcoin like "USDQ" on Bitshares, derived from the Quint, where it always stayed equal to $1 but it's value in relation to Quint would fluctuate based on the value of Gold at any given time (1 USDQ = $1 regardless of the price of gold, which would be equal to about 0.76 Quint if my math is correct, based on 1000 Quints per ounce and a $1300 price per ounce of Gold)

1 USDQ = $1 regardless of the price of gold is not possible as they are two different values with Gold is more of a store/use of value unlike the USD which is a note (FRN) that "is legal tender for all debts public and private" which is debt based and lost more of its value. Having possibly lost 99.2% of its value more or less in over 200 years.

The Quint's main pair should also not be to BTS but that of (bit)GOLD to be of a more stable relationship and not a main market of potential loss of value. There should also not be a transaction fee. For such a percentage opens to long term failure as any market with such percentage fees may eventually break after thirty cycles whatever those cycles may be.

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I think you may need to reread the original post, and my original comment. You are missing the point or haven't fully understood what's being suggested.