Miners can elect the percentage they wish to keep and the percentage they wish to make available on the exchange and what crypto they are willing to accept. The percentage made available would be sold by the pool and then paid to the miner in the crypto of their choice.
Over time, miners can also add bank details to accept dollars via the pool/exchange mechanism, to sell Vtc for fiat.
Just an idea. Feel free to point out obvious problems with this setup.
That is a VERY good idea. I like it a lot. But how could we make it secure?
This is something that needs to be coded right away. In light of the Mt Gox scandal, we can de-centralize exchanges and re-establish the public's trust.
Bitcoin holders would trade their BTC for VTC in droves. (That will be good for 3 weeks until a new decentralized exchange comes out for the new kid on the block.. no fun intended)
However, it's a massive leap to go from running a pool like this, to running an exchange for fiat. Any time you interact with fiat, by nature, you're playing it by their rules, and that means regulations and paperwork - most pools (especially the smaller ones of which Vertcoin has correctly encouraged a plurality so far) won't be interested in taking on, or capable of handling, the hassles associated. "Decentralizing exchange to fiat" is much easier said than done; you can't code your way out of this, because what's stopping it isn't a computer problem, it's a regulatory one.