Hey.
Would I be wrong in thinking that if 1 bitbay were pegged to 1 dollar, it would still be unstable as long as it can only be exchanged for BTC?
Would it be not pegged to a dollar, but to a dollar's worth of BTC, which varies greatly and is unstable?
Just askin'.
Good point. Remember though, just look at c-cex - they already have a BAY/USD pairing. One day I'd hope to see the same pairing in place on cryptsy. The reason being is that cryptsy also has fiat/fiat exchanges. Wouldn't it be awesome to see the day cryptsy had a Bay/BTC, Bay/USD, Bay/EUR, Bay/GBP, etc... If so, then we could have a stable coin that could help hedge against all the others (crypto & fiat) in unison!
At least that's my hope and dream on the matter!!
Cheers!