496
General Discussion / Re: ELI5 Reddit - Why will bitUSD work when they aren't backed by USD?
« on: August 24, 2014, 02:09:40 am »
I'm starting to see how BitUSD could maintain it's expected market peg to USD within the BitShares system but I'm also starting to think about how one would spend either BitUSD or USD as one still needs to these days until people and organization directly accept BitUSD in place of fiat USD. So, it seems to me that for me to pay my mortage if I am holding in BitUSD it would be:
BitUSD->BTSX->Bter Exchange->BTC->Coinbase->Bank Account->Mortgage Company
which is still too unnecessarily convoluted. What is the Ideal? BitUSD->Mortgage Company ??
What is realistic? BitUSD->CoinBase->Bank Account->Mortgage Company ?
BitUSD->BTSX->Bter Exchange->BTC->Coinbase->Bank Account->Mortgage Company
which is still too unnecessarily convoluted. What is the Ideal? BitUSD->Mortgage Company ??
What is realistic? BitUSD->CoinBase->Bank Account->Mortgage Company ?