Quote from: DooMAD on November 18, 2015, 07:08:07 PM

Quote from: Soros Shorts on November 15, 2015, 02:57:40 PM

Quote from: omskbear on November 15, 2015, 11:41:02 AM

Grear news! What next?

It would be great is someone could implement FiatCoin (pegged to USD, EUR, GBP, etc.), hopefully without any AML/KYC restrictions (beyond the initial purchase). Then you can truly trade Bitcoins and fiat from your client.

Think the closest thing to that at the moment is Tether, USD₮, EUR₮, and JPY₮. It uses the Omni (formerly Mastercoin) layer. I've seen USD₮ on the Poloniex exchange, but haven't come across the others.

As for what's next, hopefully some talented coders start creating stuff to utilise this new feature and wallets start updating their GUIs to handle it. This will result in increased resistance to regulatory shutdown (exchanges are easy to shut down), increased privacy (no need to register accounts and submit to KYC/AML) and increased security (not relying on third parties to store funds and you'll have full control over private keys for the pairs you're trading in) once it's all up and running. All things that we should be striving for.

One possible (highly amusing) side-effect of a long-term successful USD crypto-proxy would be if the proxy started to approach the trade volume of and/or circulation velocity of actual Fed USD Cheesy

The crypto copy could usurp the Fed issued version out of existence. Grin