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A comment on A Prediction: Bitcoin Is Doomed to Fail. Parent comment

Re:A Prediction: Bitcoin Is Doomed to Fail by TimCinel on Wednesday November 27, 2013 @08:40PM (#6812536)
If BTC is trading higher than $1, everybody would buy the undervalued BTC for $1 and sell at the market rate. If BTC is trading lower than $1, everybody would buy BTC at market rate and sell the overvalued BTC for $1.

Both cases lead to significant losses for whoever is trying to peg BTC to some arbitrary constant value.

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