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April 22, 2013, 09:33:30 PM |
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I had an idea for an alt coin after seeing people repetitively say getting fiat funds into exchanges is a slow, painful process : USD Coin - always worth 1 US Dollar.
Assuming this isn't counterfeiting (which it very well might be), this would make transacting funds a much simpler easier process by shifting the fiat to crypto conversion over to an exchange that exclusively traded Fiat Dollars for Crypto Dollar Coins and vice versa. The crypto USD Coin could then be deposited in the main exchanges that exist now for trading USD Coins in for Bitcoins and other alt coins. This would make withdrawals of USD Coin from the main crypto exchanges trivial and (if someone desired to) reduce the difficulty of converting the crypto coin back into fiat in a bank account into one step that could be handled by the USD Coin / Fiat Dollar exchange.
Just a thought about streamlining the process of converting fiat into crypto and vice versa. Let me know what you guys think: Positive, negative, etc.
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