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What's the problem? He's talking about a projected related to TFA. We do that all the time on HN, in fact it's encouraged. And if you look at the other response
by jnbiche 9y ago
What's the problem? He's talking about a projected related to TFA. We do that all the time on HN, in fact it's encouraged. And if you look at the other responses, people are clearly interested in this project, although many are skeptical (justifiable in the world of cryptocurrencies). I know nothing about it, but on face value it doesn't look like any type of a scam. In fact, it looks like he's trying to solve a big problem of Bitcoin, which is the volatility.
If you have information that this project is unethical, please spill it. Otherwise, please don't flag comments like this. It's clearly of interest to hackers and thus is appropriate on HN.
Edit: Also, as others have pointed out, you're misusing the term "clickjacking".
- wslh 9y agoHis token is not pegged to USD dollars since he doesn't have the reserves to convert back and forth between his token and USDs. Full stop. He should clearly explain upfront what he is doing for the massive public and the risks involved following his approach, which is perfectly understandable as it happens with every other investment.
- jnbiche 9y agoThere's a big difference between a currency being "pegged" to another currency and being "backed" by another currency. I do agree that it would behoove his project to clearly enumerate that it's experimental and the risks involved. But that's a good comment for him, not a flag. Edit: The article you linked to is incorrect, unless the word "pegged" is different in cryptocurrencies than elsewhere in the world of finance. Please see: https://en.wikipedia.org/wiki/Fixed_exchange-rate_system https://en.wikipedia.org/wiki/Fixed_exchange-rate_system
- wslh 9y agoWhat is a Pegged Cryptocurrency? https://themerkle.com/what-is-a-pegged-cryptocurrency/ https://themerkle.com/what-is-a-pegged-cryptocurrency/ You can decide to talk about stable coin approaches which is a more precise term.
- jnbiche 9y agoSorry, that's incorrect information. I've been to several countries that have pegged their currency to USD or to (long time ago) Deutsche Marks, without every claiming to the same currency in reserve. It leads to currency black markets, but it's possible to do and many countries have done it in the past. I mean, even China had a currency peg not too long ago. It was an enforced exchange rate, nothing more. No explicit reserve backing it up.
- wslh 9y agoNot in the cryptocurrency field. In this field pegging has a precise meaning.
- alexasmyths 9y agoI don't think that the specifics of his currency add or remove anything from the nature of the comment having merit or not. The comment is a little bit off topic, but I for one don't mind though I'm not sure about whether or not it's within the rules.