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Offline Akado

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Are Bitassets Actually Useful?
« on: April 21, 2015, 09:00:07 PM »

http://www.miningpool.co.uk/are-bitassets-actually-useful/

~2 months old so i dunno if it has been posted already. If not, i thought it would be worth sharing. Paul Sztorc's (Truthcoin creator) opinion on bitassets.

"Sztorc has continually pointed out that bitUSD should only be used as a long term store of value. While he’s also explained that BitPay, Bitreserve, and many other businesses can also be used to avoid bitcoin’s volatility, Ethereum Creator Vitalik Buterin pointed out that those entry and exit points usually come with added costs. As a final note, Sztorc was able to describe a scenario which would render the bitUSD completely obsolete:"

    “To fully kill the bitUSD? A private, cellphone-accessible, Swiss bank account that accepted Bitpay — [as in, BTC to USD] — deposits.”
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Offline xeroc

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Re: Are Bitassets Actually Useful?
« Reply #1 on: April 22, 2015, 07:33:03 AM »
It seems he is mixxing up bitreserve with bitassets ..
he doesn't even mention BitShares
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Offline Akado

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Re: Are Bitassets Actually Useful?
« Reply #2 on: April 22, 2015, 02:07:38 PM »
It seems he is mixxing up bitreserve with bitassets ..
he doesn't even mention BitShares

"While he’s also explained that BitPay, Bitreserve, and many other businesses can also be used to avoid bitcoin’s volatility"

I guess this implies he is talking about BitShares' bitAssets since he considers bitreserve a different option
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