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Muse/SoundDAC / Re: BitUSD used to buy artistcoins?
« on: September 14, 2014, 06:45:23 pm »
I think bitusd will been accepted by seller like taobao.com and amazon in the future .if each DAC have its bitusd, there are music-bitusd and btsx-bitusd in market. what bitusd the seller should accept, if the seller accept all bitusd, they must mark the price of goods by different bitusd. it is very inconvenience.
If the peg is working well then for a merchant point of view it does not matter where the bitUSD is coming from as long as the value is 1 USD.
But what is most likely to happen is this :
Cross-chain trading is inconvenient. People want to be able to have the money ready to go if they need to spend it for some good/service. So keeping most BitUSD (and other BitAssets) on BitShares X means that a consumer can easily pay a merchant for a good/service, and that merchant can later use that money to pay their workers and other expenses. If everyone is on the same chain, people do not need to bother with cross-chain trading which may cost them some small fees to carry out the trade. My guess is that BitShares X will keep the BitAssets meant for spending on "real world" goods/services, while BitAssets on other DACs will be kept only to pay for that DAC's "digital" services. This way DACs would all accept the BitAssets on their own blockchain for payment of services (they have to), but everyone else in the real world would still accept the BitShares X BitAssets for payment (so there shouldn't be any confusion).