BitUSD 0.8 BTC buy wall / 1.3 BTC sell wallSteem Backed dollar 50 BTC buy wall / 30BTC sell wallThere are a lot more Steem dollars around than BitUSD and they are much more liquid.
The key reason is because the Steem blockchain creates the Steem dollars autonomously and distributes them.
The Bitshares blockchain only creates and distributes BTS but relies on traders to create the BitUSD.
If the Bitshares blockchain paid our witnesses and workers in BitUSD instead of BTS it would have the following effects.
- Reduce selling pressure on BTS
- Create a large supply of BitUSD
- Create liquidity and confidence for traders to short even more BitUSD in to existence.
- Easier to understand how much worker proposals are being paid /asking for
- Workers would know how many dollars they were getting paid each month.
- We wouldn't be increasing the current inflation rate of BTS from what it is now
This proposal was the result of a long discussion here:
https://bitsharestalk.org/index.php/topic,22935.0.htmlUltimately this would need a hard fork, money for development and shareholder consensus.
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