Different dacs could have different collateralization rules could't they? And
varying quality of dev teams, varying strength of DPOS etc. So 1 bitUSD backed
by BTSX is different to 1 bitUSD backed by vote. Because what gives bitUSD is
value is its redeem-ability for BTSX,
No .. every bitUSD is redeemable for any base asset on other DACs .. the price
bitUSD/BTSX and the price bitUSD/VOTE will differ over time. but the price
bitUSD/bitUSD and bitUsD/USD will always be 1.0 (+-spread)
and what gives BTSX its value is
investors faith in the project as a whole, which will be different for every
dac. Another DAC issuing bitUSD exposes BTSX holders to risk, what if that dac
collapses and the good name of bitUSD is tarnished? They're pretending it's
the same product when it's not.
Investors faith in the project (i.e. DAC) is what makes the value of the DAC
(i.e. the value of it's base asset) worth more. .. so the price of BTSX against
bitUSD rises .. not the value of a bitUSD in any DAC!!!!!
Another point, bitUSD is a great name, shouldn't other dacs call their currency
something else? It's pretty cheeky to fork someone's product and name it the
exact same thing isn't it? (unless it's somehow mutually beneficial, I'm still
trying to figure out if it is or not). But if they name it
something else how can it remain market pegged as the name is the key for that
working?
bitUSD is indeed a great name .. but what would you price a bitUSD-A in?
A bitUSD is worth a USD .. no matter where you trade it .. only differences
between DACs are the spread (read, time you need to buy/sell a considerable
amount) .. and the collateralization, which IMHO is priced into the
baseToken/bitUSD price and not in the bitUSD price itself .. because that one
is simpley $1!
What if I launched a ratty arse dac with 5% collateral (vs BTSXs 200%) and
issued bitUSD, can that then be 'atomically cross chain traded' and exchanged
for BTSX?
If you wanted to trade with that DAC it's your own fault .. all bitUSD in BTSX
will always be backed by at least 150% BTSX. If you want to give them away for
bitUSD in a different chain that are backed by less.. then it's you own fault!
This leads to the conclusion that bitUSD is only as strong as it's weakest
issuing dac, and it's weakest dac can be made deliberately weak as an attack
vector. Unless the bitUSD all being joined up via acct means it wouldn't
collapse in the event of a black swan on one of the dacs, maybe it would
actually be stronger.
Why would the bitUSD in BTSX collapse because some other DAC's base token is
beein worthless (which wouldn't harm their peg, btw).. or the other DAC uses
the wrong collateralization (which is just stupid)?
It is not that you can 'transfer' a "vote-bitusd" into the "btsx-bitUSD" ...
you will always have to trade 1:1 (or close to)
ALL BITUSD IN BTSX WILL ALWAYS BE BACKED BY BTSX!!! USING AT LEAST 150% COLLATERAL! .. PERIOD!
sorry for crying that out loud

Either way it the competing bitUSD of VOTE is a very harmful force for BTSX. BTSXers should be snapshotted in imo.
I just fail to get the issue
This is a bit over my head so I could be getting this all wrong.
may be .. future will tell!
//edit: I apologize if parts of this post sound rude
