Other countries, such as China, have tried to peg currencies to the USD for some time. The only way they do this, is by purchasing, and holding in reserve, huge amounts of USD.
This community seems to think they will be able to achieve a peg of BitUSD to the USD, with nothing other than a few hard defined mathematical formula to determine prices, fees, and so on.
Can someone explain to me how and why BitUSD will work, with no "government" controlling things, while it seems to me nothing like this has ever worked before, without huge expenses, and a very powerful government making centrally controlled decisions, in the past?