VeriBit is one of the most simple, yet practical ideas to come out of Altcoins.

Let us not all forget here the reserve cryptocurrency we are all trading back into, that being "Bitcoin".

...Of course this doesn't mean we shouldn't have other reserve cryptocurrencies as trading options other than Bitcoin; in fact, we already have several alternatives.
However, any Altcoin innovation that brings altcoin usability and utility closer to Bitcoin retail markets has got to be a good thing in the interests of competition and a healthy cryptocurrency industry.

I Veribit is an excellent idea!