Post
Topic
Board Speculation
Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
by
molecular
on 19/08/2013, 19:19:07 UTC
This money is orginally as Gox-USD, and most of the owners want it converted back to USD after escaping from Gox. It does not change the total bitcoin supply-demand, because it is both originally and eventually USD. Bitcoin is therefore used only as a value transmit mechanism for Gox-USD.

And that's how a new reserve currency is born. Can't trade Gox USD IOUs vs. bitstamp USD IOUs directly? Use BTC as interchange currency Wink