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General Discussion / Re: my latest article: I compare BitUSD and CoinoUSD
« on: September 14, 2014, 10:08:58 pm »QuoteFor the life of me, I cannot decide whether I prefer NXT’s SAE or BitsharesX more....
Nice article, but it seems to be missing one important thing. I'll let the most interesting BitUSD purchaser in the world answer...
! It sounds like CoinoUSD is an IOU for the gateway which is a centralized entity, no? Is it backed by anything or fungible in the network?
It is fungible and available for sale via multiple channels yes (other exchanes including NXT's SAE). How well those channels track the dollar remains to be seen.