Question for the devs: Someone brought up a good point in the Google hangouts (I think) comments. If veribit has to exchange vrc for btc, how can vericoin purchases be any faster than bitcoin? The solution (if you have not already thought of it, and I'm sure you have) would be to use the VeriFund to pre-auth the transaction within seconds (fewer confirms?), and then the transaction slogs through the bitcoin network as per normal. Is this the case? If so, it should be made public knowledge to quench some of the fud out there. If it's not the case, feel free to use the idea.
EDIT:
Also, I am still concerned about the 2 VRC (now 1 VRC) transaction fee. I think for VeriBit to be accepted, the fee should be a percentage of the transaction value. I'd pay 1% up to a max of 1 VRC per transaction. Like I mentioned earlier, if VRC is at 0.25 BTC and BTC is at $1000 USD, no one will use VeriBit. Until VeriCoin is accepted natively, this seems like a fair fee to pay for the convenience.
Just like they already reduced the fee from 2 VRC to 1 VRC as the price rose, pnosker said they will reduce the fee as the price rises so you need not worry. The point of the fee is to not make profit but to stay just high enough to cover exchange and maintenance costs which keeps the cost as low as possible. It is also important to have the 1 VRC fee to discourage unnecessary overuse. If you just had only a % fee then people may abuse it and overuse it for no reason which unnecessary increases the size of the blockchain. Trust me, they've already thought of most everything and there is a reason for what they do.
