What would happen if I created a cryptocurrency and tethered it to the price of Bitcoin? One XYZ currency unit=1 Bitcoin. And to make it even more interesting have XYZ trade via peer 2 peer without the gambling dens "aka exchanges".
Do you think some heads would explode? Would some people be upset because they can't speculate on XYZ? Or would some people scoff at the idea because...well people won't use your XYZ currency..And what would happen if I created 100 of these currencies @ $41 billion each...and gave them all away???