I wonder if a form of coin-locking could be used to create simulated versions of other currencies. Depending on the demand and level of trust in the given currency, a given bitcoin sum could be locked in such a way that it gets automatically distributed to all holders at some future point (if they don't choose to hold onto the simulated currency instead) in proportion to how much they have. The choice to hold or drop the simulated currency would be a way of measuring its value against the bitcoin.
I wonder if a form of coin-locking could be used to create simulated versions of other currencies. Depending on the demand and level of trust in the given currency, a given bitcoin sum could be locked in such a way that it gets automatically distributed to all holders at some future point (if they don't choose to hold onto the simulated currency instead) in proportion to how much they have. The choice to hold or drop the simulated currency would be a way of measuring its value against the bitcoin.
I can think of various ways to facilitate this using the ...
The bitcoins that I had set aside for a Cryonics contest two years ago (and were unredeemed) are suddenly worth a lot more.
Details: I had added 10 bitcoins to get things started, and there were 4.75 worth of additional donations. These were partially lost when the hosted online wallet that I was using (MyBitcoin) was hacked, but 49% was recovered. As of today, after refunding part of the donated money, it is now worth 5.2675. I will be adding from my personal store to bring it up to an even 5.5. At $140 per coin, the new total is $770.
I've decided to follow the buy-and-hold strategy for at least another year, since it worked so well. I don't have exact details on what I'll do with it, but it will not be converted or spent for at least one year, and will eventually be used for promoting cryonics in some way.
Some things I have in mind if it gets big include:
Contributions can be made to:
1Jdn36JUwvJdr3Qiie4aAseFdcoTsND9Qo
(Updated, since the previous address was attached to my personal wallet on an outdated client, which was causing money to be moved out of it by accident. The above is a brainwallet with a reasonably secure passphrase, generated using Blockchain.info.)