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AN IDEA

Discussion in 'Other games and gaming' started by Fan_boy99, Dec 14, 2018.

  1. Wistrel

    Wistrel Kick Ass Elf

    Presumably, DERP Token aside... MA could bring in ETH or something else even as an alternative exchange currency for Entropia? i.e. if I had bitcoin, I could buy PEDs with it from MA? or swap my peds out for bitcoin?

    I guess the issue is that MA might not want to receive bitcoin in exchange for PED (at least directly) because it's value might fluctuate a lot? They'd also maybe have to have a stockpile of of bitcoin so I could withdraw via that too?

    I suppose the only work around would be they sort something out that immediately sells the bitcoin you give them for USD? I suspect though that this isn't something that is guaranteed? in other words there is no "market rate" so to speak, more just an average of what people are willing to pay for bitcoin at any moment... so if MA wanted to sell immediately/instantly they'd need to wait for

    a) someone to buy the coins they just received
    b) the transaction to be verified (which I hear can take a long time - at least several minutes)

    I guess therefore cryptocurrency wouldn't really be a good idea as it is

    a) too unstable
    b) too slow?
     
  2. BitPay limits the risk somewhat in one-off transactions https://bitpay.com/

    But MindArk wouldn’t be able to hold a fund or pool of bitcoin because of the enormous volatility and possibility of it falling to zero worth.

    Of course the dollar could collapse too but then we’d all be screwed (with the possible exception of holders of Bitcoin and/or precious metals).
     
  3. Wistrel

    Wistrel Kick Ass Elf

    It looks like bitcoin has been gradually tanking this year anyhow.
     
  4. I think most risk assets are falling with Bitcoin maybe the ‘canary in the coal mine’.

    Interest rates trending higher favourable to cash at the moment.
     

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