basecoin vs bitUSD as a price stable cryptocurrency

[SolomonSollarsNSense]

it's nonsense that uses ideas worse than nubits

How is this the case? Explain?

[moinyoin]

it's nonsense that uses ideas worse than nubits

[kingslanding]

Looks like basecoin is getting a lot of backing from crypto investors.  It's trying to create a decentralized stable cryptocurrency pegged to an instrument such as the USD, CPI,  or a basket of currencies.  Here's the whitepaper:

http://www.getbasecoin.com/basecoin_whitepaper_0_99.pdf
http://www.getbasecoin.com/

It tries to peg its currency using economic supply/demand theory touted by central banks.  It uses 3 tokens to help expand or contract the supply:  basecoin, base bonds, and base shares.

Sounds nice but how these tokens interact in the real world is another question.  It even gives drawbacks of bitshares' bitUSD;  don't agree w/ the first point.

Even if basecoin doesn't work perfectly it may get more traction than bitUSD just because of the people backing it.