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RE: Bitspark Switching to Bitshares for Remittances

in #bitcoin3 years ago

bitUSD is amazing for moving value around the world quickly, safely and with very little volatility. 3s transactions, send to a named address (instead of a difficult to understand hash of random numbers and letters) and negligible fees.

The most exciting development in Bitshares right now is the HERO token, which is a 5% savings account pegged to the US dollar. Volumes are currently low but it is brand new and working perfectly. The HERO is literally the perfect remittance currency, because it is price stable and pays 5% 'interest' with no lock up period or penalties. Just use it like bitUSD but get a 5% return for just holding it.

I can see services like Bitspark holding their working capital in HERO and using the DEX to move in and out of USD, CNY etc.

Bitshares has been chugging away for 3-4 years and currently does more op/tx than Bitcoin and Ether combined. Zero scaling issues and extremely fast. BTS is easily the most undervalued crypto out there. A boom to $5-10 is not far fetched at all. Exciting times!

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bitUSD is market pegged to the US Dollar, so while it is price stable, it still suffers any inflation USD experiences.

HERO token, which is a 5% savings account pegged to the US dollar

This is inaccurate. HERO's price feed is a formula, making it pegged to the value of the USD on December 23rd 1913, with 5% deflation going forward from that day. This means HERO appreciates in value at the rate of 5% annually, not against the value of USD today (which is variable), but against the fixed value of USD the day the Fed was founded.

For anyone who is used to thinking in terms of whatever inflationary fiat currency is chosen by the country they live in), HERO is a completely liquid savings account that earns more than 5% APR. While HERO appreciates at 5%, fiat currencies are also inflating, so the actual return from holding HERO will be something more like rate=5+x where x is the rate of inflation in the fiat currency it's being compared to.

Excellent point, had never thought about 5+x! I really hope HERO goes mainstream, could really change lives

We are watching HERO closely and this is likely a use case for the storage of a portion our customer balances in USD pegged currencies- e.g. HKD, AED, USD etc. +5% ;)

Thoughts on zeph coin price after ico launch?

Depends on if they get listed on Bitfinex, Bittrex or Polo. Any one of those exchanges will pump it 10-100x.

If not on the crooked CEXs growth in token price will come from, you know, an actual business creating real value. Bitspark has been in business for several years and has a solid implementation plan for the remittance business on BTS.

In a couple years they could hit several dollars each...

Wow. Awesome. Good to know.

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