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Muse/SoundDAC / Re: How Does bitUSD work on Peertracks?
« on: November 30, 2014, 06:38:13 pm »
Delulo,
OK, thanks. So it is its own thing on its own blockchain as I thought.
I agree with your hesitation due to your listed CON, but I argue that that is just something Peertracks would have to accept because I see very little chance that the bitshares music blockchain would ever be able to maintain a strong bitUSD peg on its own.
It's adding another thing that has to work for Peertracks to succeed. An unnecessary challenge. You increase your chances by teaming up with bitshares and using their bitUSD instead of dividing the network effect.
Someone has already solved the problem of bitUSD for you, take advantage of that! Making your own bitUSD is like a grocery store trying to establish its own currency so customers have a way to pay for groceries. What's the point? They can just use U.S. dollars.
OK, thanks. So it is its own thing on its own blockchain as I thought.
I agree with your hesitation due to your listed CON, but I argue that that is just something Peertracks would have to accept because I see very little chance that the bitshares music blockchain would ever be able to maintain a strong bitUSD peg on its own.
It's adding another thing that has to work for Peertracks to succeed. An unnecessary challenge. You increase your chances by teaming up with bitshares and using their bitUSD instead of dividing the network effect.
Someone has already solved the problem of bitUSD for you, take advantage of that! Making your own bitUSD is like a grocery store trying to establish its own currency so customers have a way to pay for groceries. What's the point? They can just use U.S. dollars.