I agree that this concept is too much of a departure from the norm to be readily accepted as a replacement for any existing token on Hive. Your concern is the same concern @proofofbrainio expressed in our discord convos.

Your comment that the exchangeable token would be useless would imply that bitcoin is useless. $1 trillion currently speaks to the contrary.

I think it is going to take a new experiment, which I am happy to start at some time in the not-too-distant future.

BTW, I'm not saying the new exchangeable token will usurp bitcoin; just saying that there are a LOT of investors out there seeing value in an "exchangeable-only" token that isn't even that exchangeable (given BTC's block timing, transaction throughput, and fees).