On 19 Nov 2008, at 15:36, Roger Hicks wrote:
Just because the PBA has self-adjusting rates doesn't make them right.
It makes them righter, in general, instead of arbitrarily set.
Take a look at my recent deposit of PV, for an example.
You misunderstand: the point is that the PBA is structured so that when the rates are wrong, they get corrected. This is done by offering nice rewards when the rates are wrong, and so it has been doing well. The PV was a rare extreme case of this.
Yes, I'll concede that the RBOA was scammable when it overvalued PBA coins, but now that it no longer trades in coins it should function just fine (as it had prior to the PBA).
It's not easy to determine what's a good or bad rate unless you have something impartial monitoring their value somehow (PBA).
