Re:Basecoin, aka the Basis Protocol
by thinkloop on Wednesday April 18, 2018 @03:06PM
(#16870073)
Generally agree, but those are pretty damning comments showing a weak understanding of money mechanics, and this project is fundamentally about money mechanics.
Author doesn't understand that prices are only determined by what people are willing to trade for, rather than them being some external thing that exchanges have to guarantee.
The second comment is especially relevant as it deals with pricing, which is the thing this project is about: https://news.ycombinator.com/item?id=15792065
Author doesn't understand that prices are only determined by what people are willing to trade for, rather than them being some external thing that exchanges have to guarantee.