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BitShares X Testnet
Far less cost than current visa/ boa electronic debit system, yes?
Quote from: bitbro on August 12, 2014, 03:23:50 PMFar less cost than current visa/ boa electronic debit system, yes?About $0.01 per transaction.
Isn't the most important benefit that by holding Bitusd you hold your $ in a decentralised bank that cannot loan more than its collateral value? The bank cannot therefore bankrupt and no government can shut the system down.The bank earns profits from transaction fees and the loans that will provide cannot exceed these profits. You avoid a situation where a bank can loan more than it's true value and therefore you avoid a crisis like the one we experienced and still experience whereby banks gave more loans than they supposed to and at some point people realised all together that the asset collaterals that they were holding (i.e houses) were not worthing that much?
You can pay merchants in BitUSD without having to use a service like BitPay to handle volatility risk.
Quote from: bytemaster on August 12, 2014, 03:25:08 PMQuote from: bitbro on August 12, 2014, 03:23:50 PMFar less cost than current visa/ boa electronic debit system, yes?About $0.01 per transaction.Compared to how much in the visa/boa debit system? $1.00 per transaction? Or 1%?
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