1. An assumption that BitAssets 2.0 depends upon USD/BitUSD gateways (false assumption)
...
From the perspective of merchants and everyone else you want them to know that 1 BitUSD to USD is the floor and ALWAYS a safe price to exchange at.
Sorry but I don't think you fully understand the "perspective of merchants" or I don't fully understand what the hell you're saying above when it comes to why a merchant would want to accept bitUSD. I can tell a merchant 1 bitUSD = 1 USD all day long, but what good does it do that merchant if they can't get out of bitUSD and into USD quickly (within 24 hours) and easily (without transferring funds to an exchange that is unregulated)? Why should that merchant leave the comfort of a merchant bank who (for 3% or less) handles all of the financials for the merchant and conveniently deposits the funds into their account the next morning? How will BitShares possibly compete, much less get a foothold with U.S. merchants when there is no regulated gateway (even though you say it's not required, you've offered no solution for the merchants that I can see) to convert to USD? I can even throw in, "hey you're making 3% more!" and it would do no good. 3% more of what? The merchant can't easily convert bitUSD, no one else accepts it, what good is this 3% I've earned if I can't easily convert it to USD?
Dan, I'm down with your plan and all but I can't look at this with rose colored glasses thinking, "one day everyone will just realize how great this is and things will change!". You and I both know that's not going to happen.
- How will the merchant get their USD within 24 hours without a regulated exchange converting bitUSD to USD?
- How much of a hassle will this be for the merchant? They have enough to do without having to handle these conversions themselves.
The only way this makes sense is if you already have a deal lined up with someone like CoinBase and you simply can't say at this time. Otherwise, as you've explained it in this thread and the original, the idea of merchants accepting bitUSD is a pipe dream IMHO. There's simply no way I could possibly convince a merchant to accept bitUSD with the terms you've outlined in both post, regardless of 1:1.03. And since you're much smarter than I will ever be, I'm going to watch you shoot down my entire post piece by piece and gently explain to me how this will work, so that I can easily explain it to merchants, because what you are reading right now
is the "perspective of merchants". "How am I going to get my money Dan?"