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Offline cn-members

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Bitshares have cought a lot of attentions in the crypto currency industry in four months since it was online . Now , Bitshares is at the forth place at coinmarket.com valued roughly 42 million USD market cap .  To a large extent ,Bitshares got the favour of the market is because of the limitless potential for application of the BitAssets such as BitCNY and BitUSD etc . BitCNY and BitUSD have both the same high-speed transaction , trust-less features as Bitcoin , in addition, BitAssets have  stability as the fiat they are pegged to . These features are essential to payment system . Once it applies at a large scale , it would completely remove the obstacles for crypto currencies to be used in payment system . As the original issuer of BitCNY and BitUSD , the market cap of Bitshares would be redefined by that .


As a matter of fact , the market had already valued the importance of BitAssets . When Bitshares was first online , BitAssets was still under development , the practicability was still unproven . Back then the price of BTS was floating between 0.04-0.08 CNY . The watershed of the BTS price happened when BitAssets was brought online , Bitshares rose from 0.06CNY to 0.3489CNY at a couple of days . Although the practicability of BitAssets have been proven , and yet like all new born things , BitAssets weren't perfect at first , so the application of BitAssets like BitCNY was hard to promote . The market once again sent it's signal with the price , the recent drop of Bitshares said that already .


Luckily , for months the inner-market exchange rules for BitAssets have been improved greatly , recently , our DacSun team studied the new rules with great length , we deemed that the essential conditions for BitAsssets to be successful are already there , it's about time for massive promotion of BitAssets like BitCNY and BitUSD . Here are the reasons :


1 ) We like to use BitCNY as an example . The zero cost for shorting BitCNY at the first stage has changed , now shorting BitCNY should pay interest to the long position , the interest rate will be determined by the supply and demand from the market . This rule has solved the situation of huge one-way selling pressure of BitCNY . Because if the selling pressure are higher , the interest pay by the short position would be higher too , that would decrease the demand for shorting . It also means that the long position can get more interest so the buying pressure would be higher . This rule has balanced the buy and sell side of BitCNY and lead to a more robust market .

2)BitCNY short position will no longer be indefinite . For now the shorter need to buy back their BitCNY within a month . The monthly cover makes BitCNY more easily goes back to a balanced position as it's fiat value .

It's not just us who sees that , many senior members of the Chinese community have acutely aware of the changes , some of them have already made explicit plan to be the market maker and exchange for BitCNY just to gave it a final boost for its success . For that , we DacSun team deeply appreciate their efforts , we believe soon there  will be BitCNY market makers and exchanges , and that would be important .

We the DacSun team have no doubt in the success of BitCNY . Of course the massive adoption of BitCNY will not happen for no reason , we hope every member of the Bitshares community can stick together and joint their effort for the payment application of BitCNY after the plan bring online. Of course , we the Dacsun team will do our part as well to offer incentive and support for the promotion by community members . We will also use all our media resources to help the promotion of BitAssets .


We hope within three months we can see the effective application of BitCNY . A little spark may kindle a great fire , the torch has already been lighted up , let us change the world .


The original Chinese post is here : https://bitsharestalk.org/index.php?topic=11681.0
« Last Edit: November 24, 2014, 06:37:47 PM by cn-members »
BTS中文区发言人公共账号,帮助社区有效沟通与交流。
Chinese Community Spokesman Account,to help the effective communication between Chinese and other members of the community.We're not translators to do regular translations , but will help with vital ones as we see fit and available at that time.

Offline Empirical1.1

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Re: [Announcement]The plan for fine peg of BitCNY and business promotion
« Reply #1 on: November 24, 2014, 07:02:29 PM »
 +5% +5% I agree BitAssets will change the world!

I'm very glad to hear senior members of the Chinese community & DacSun are behind BitShares & BitCNY and have a plan to help & promote its success.

This is very positive news. If I see a lot of the Chinese community responding positively to this, it will be the kind of thing that makes me take a very heavy position in BitShares regardless of some of my other concerns.
« Last Edit: November 24, 2014, 07:09:46 PM by Empirical1.1 »

Offline Rune

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Re: [Announcement]The plan for fine peg of BitCNY and business promotion
« Reply #2 on: November 24, 2014, 07:13:29 PM »
I'll be really happy to see organized market making of CNY/bitCNY on centralized exchanges (or even better with the new IOU gateways!). I plan an attempt to gather people to do the same with bitEUR/EUR to kickstart liquidity in the European market as well, as the time comes for the on ramp marketing push to begin.

Offline donkeypong

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Re: [Announcement]The plan for fine peg of BitCNY and business promotion
« Reply #3 on: November 24, 2014, 08:35:58 PM »
Wonderful! Let's get everybody excited about this!

Offline Empirical1.1

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Re: [Announcement]The plan for fine peg of BitCNY and business promotion
« Reply #4 on: November 27, 2014, 11:39:21 PM »
Interesting. I see someone has started www.TradeBTS.com

Direct English translation

'TradeBTS is a bit asset exchange platform , currently supports variety is BitCNY, platform certification acceptance quotient of 1: 1 support for two-way trading price BitCNY and the renminbi, all services for free during the promotion period .'

https://bitsharestalk.org/index.php?topic=11748.0



Offline bluebit

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Re: [Announcement]The plan for fine peg of BitCNY and business promotion
« Reply #5 on: November 27, 2014, 11:52:27 PM »
Interesting. I see someone has started www.TradeBTS.com

Direct English translation

'TradeBTS is a bit asset exchange platform , currently supports variety is BitCNY, platform certification acceptance quotient of 1: 1 support for two-way trading price BitCNY and the renminbi, all services for free during the promotion period .'

https://bitsharestalk.org/index.php?topic=11748.0

The next 3 months are going to be fun to watch  +5% +5% +5%
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Offline xeroc

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Re: [Announcement]The plan for fine peg of BitCNY and business promotion
« Reply #6 on: November 28, 2014, 08:16:06 AM »
Exciting times ahead .. yet again 8)
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline Empirical1.1

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Re: [Announcement]The plan for fine peg of BitCNY and business promotion
« Reply #7 on: December 30, 2014, 08:33:37 AM »
Nice to see BitCNY on the main page of coinmarketcap :)

No.82 by CAP

Offline Rune

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Re: [Announcement]The plan for fine peg of BitCNY and business promotion
« Reply #8 on: December 30, 2014, 03:16:44 PM »
Nice to see BitCNY on the main page of coinmarketcap :)

No.82 by CAP

Awesome! Made a post on the chinese forum about it, you might have been the first to notice: https://bitsharestalk.org/index.php?topic=12768.0

 

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