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Offline NineLives

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bitUSD shooting up. Why?
« on: January 04, 2015, 03:38:38 PM »

Hi guys,

BitUSD is shooting up which is nice however, why is it?  How can I keep untop of predictions?  I suppose that's the million dollar question..
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Offline cn-members

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Re: bitUSD shooting up. Why?
« Reply #1 on: January 04, 2015, 03:43:58 PM »
Hi guys,

BitUSD is shooting up which is nice however, why is it?  How can I keep untop of predictions?  I suppose that's the million dollar question..

BTS is going down , so BitUSD is going up .
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Offline santaclause102

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Re: bitUSD shooting up. Why?
« Reply #2 on: January 04, 2015, 03:44:10 PM »
The price in BTC is naturally shooting up but it's USD market cap stays the same roughly. http://coinmarketcap.com/assets/bitusd/#charts
No?

Offline davidpbrown

Re: bitUSD shooting up. Why?
« Reply #3 on: January 04, 2015, 04:17:57 PM »
Everything is relative; so, a statement such as "BitUSD is shooting up", really does need to suggest relative to what.

The dollar looks a little stronger relative to certain other currencies but that'll change.

The marketcap for bitUSD looks the same as it has for a while. BTC is falling because of ?noob merchants like Microsoft dumping into fiat or some other reason - perhaps there are not enough new buyers atm to keep up with miners.. and people have more reason to buy Bitcoin2.0 like BitShares; CounterParty; MaidSafe; etc, than ever hold BTC.
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Offline yellowecho

Re: bitUSD shooting up. Why?
« Reply #4 on: January 04, 2015, 07:49:39 PM »
The market cap of bitUSD is relatively the same so I can only assume you mean the price.  BitUSD has been trading at a premium (1.01-1.02) because of the increase in demand as a storage of value against BTC price volatility to the downside.  While this trade action is somewhat predictable, what I find most telling is how bitUSD trades at a premium in such scenarios while Nubits trades at a discount.
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