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Offline mf-tzo

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please provide some liquidity and feeds
« on: January 04, 2015, 07:23:44 PM »

Can we please as a community provide some liquidity to the client and the delegates some feeds. Especially for bitusd:bitbtc market which is inactive. I have decided to finally buy 1 bitcoin but I want to use my bitusd to do so. I don't want to be obliged to sell bts to an external exchange in order to buy 1 btc. And obviously I don't want to sell any BTS for BTC in the internal exchange as well..

Also why no valume in bitgold? No one wants to buy some bitgold at the price feed and buyers are asking prices far away from the peg...

If we don't use our platform do not expect other people to do so for us. If you guys just use the platform as a short store of value (and I doubt many use it that way) and sell to external exchanges all the time do not expect BTS to go any further...

We need to start using more our client please...aaaa...biteur as well please some liquidity...there are many europeans among us. stop trading all the time in usd please and show some love to the euro as well..
 
« Last Edit: January 04, 2015, 07:25:18 PM by mf-tzo »

sumantso

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Re: BitBTC
« Reply #1 on: January 04, 2015, 07:27:37 PM »
The question I would like to ask is: Does the community believe BitBTC has potential?

I ask this as I think the belief is that it can't do much, and BitFiats are the crown jewels. I think if we pitch it properly, explain the potential advantages, and provide easy to use wallets and get the infrastructure running, we can get some of the BTC users to start using this in parallel.

Offline mf-tzo

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Re: please provide some liquidity and feeds
« Reply #2 on: January 04, 2015, 07:38:27 PM »
well I never believed that BTC had any potential anyway...But at this price I am inclined to buy 1 BTC but I don't want to sell my BTS to do so..

If our community doesn't believe that holding the peg for BTC, bitbtc doesn't have liquidity, bitgold doesn't have liquidity either and our only asset is bitusd so be it... But I feel that this situation is not in our favor.. We need to provide liquidity to 5-6 markets in order to survive and not just bitusd..Otherwise people will just buy gold from the traditional ways, BTCners will stick to what they know, BTS will fade and our dreams will remain dreams...

Offline Rune

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Re: BitBTC
« Reply #3 on: January 04, 2015, 07:40:01 PM »
The question I would like to ask is: Does the community believe BitBTC has potential?

I ask this as I think the belief is that it can't do much, and BitFiats are the crown jewels. I think if we pitch it properly, explain the potential advantages, and provide easy to use wallets and get the infrastructure running, we can get some of the BTC users to start using this in parallel.

bitBTC might become useful once we have people running monsterers BTC -> bitBTC gateway. Although it's likely that the majority of people will prefer going straight in and out of bitUSD through the gateways, so maybe it will actually have a lower spread than bitBTC.

A big reason for why we have no exchange volume is probably because most people aren't able to get the full node to work, or simply don't dare to start it. Once we get the lightweight client working the average crypto user can begin using the system and our on-ramps will hopefully shift towards market pegged asset, with the internal exchange handling all BTS volume.

Offline mf-tzo

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Re: please provide some liquidity and feeds
« Reply #4 on: January 04, 2015, 07:44:52 PM »
If I can run the client and feel comfortable about it there shouldn't be any excuse for anyone out there not using it.. I am by far below the average crypto user. I am mostly here for the fun and the learning experience..

Offline xeroc

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Re: please provide some liquidity and feeds
« Reply #5 on: January 04, 2015, 08:00:25 PM »
I am confident that with relative order prices the liquidity should rise .. though i would rather use my bts to buy bitgold than bitbtc
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Offline mf-tzo

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Re: please provide some liquidity and feeds
« Reply #6 on: January 04, 2015, 08:01:43 PM »
well go on and buy some bitgold then..I want my bts back.. :)

Offline Akado

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Re: please provide some liquidity and feeds
« Reply #7 on: January 04, 2015, 08:05:14 PM »
Indeed. I'm really excited about the idea of buying bitgold but there are no feeds. BitUSD is great! However, I think if we had a liquid bitgold market, it would give us huge exposure!
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Offline mf-tzo

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Re: please provide some liquidity and feeds
« Reply #8 on: January 04, 2015, 08:09:08 PM »
I think there are feeds and last time I have checked the feed price is a fair price for bitgold. The buyers are asking bitgold at $890 - $900 and that doesn't make sense...bitgold should be traded @ 85,700 - 87,700 bts at current market rates 

Offline Akado

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Re: please provide some liquidity and feeds
« Reply #9 on: January 04, 2015, 08:15:23 PM »
the problem is most people won't risk buying something, even if undervalued, with the risk of not being able to sell it later! though if it is like you say, they could have nice profits
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Offline mf-tzo

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Re: please provide some liquidity and feeds
« Reply #10 on: January 04, 2015, 08:22:42 PM »
Quote
the problem is most people won't risk buying something, even if undervalued, with the risk of not being able to sell it later! though if it is like you say, they could have nice profits

And this is the reason for the OP. If we don't believe as a community that whatever bitasset we buy we will be able to sell it later at a FMV then how do we expect from others to do that for us? This will be the end of BTS. If people buy i.e bitgold at FMV and then are obliged to sell it at 20% because no one else is buying at FMV then less and less people will use BTS..

I think that Bitusd, bitcny, bitbtc, biteur,bitgld,bitoil should have liquidity and traded to the peg in order for BTS to expand to anything else and succeed. We should be away from the "experiment" phase of bitusd and these important bitassets by now..The days of bitusd at a discount 15% - 20% are long gone and same should apply to the rest of the important bitassets

Offline Rune

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Re: please provide some liquidity and feeds
« Reply #11 on: January 04, 2015, 08:45:02 PM »
Quote
the problem is most people won't risk buying something, even if undervalued, with the risk of not being able to sell it later! though if it is like you say, they could have nice profits

And this is the reason for the OP. If we don't believe as a community that whatever bitasset we buy we will be able to sell it later at a FMV then how do we expect from others to do that for us? This will be the end of BTS. If people buy i.e bitgold at FMV and then are obliged to sell it at 20% because no one else is buying at FMV then less and less people will use BTS..

I think that Bitusd, bitcny, bitbtc, biteur,bitgld,bitoil should have liquidity and traded to the peg in order for BTS to expand to anything else and succeed. We should be away from the "experiment" phase of bitusd and these important bitassets by now..The days of bitusd at a discount 15% - 20% are long gone and same should apply to the rest of the important bitassets

You are totally right in your analysis, but we shouldn't try to get everything online at once, it needs to be done one at a time. Right now you can't even put a significant amount of money into bitUSD and have it stay liquid. BitCNY seems to be our only functional MPA at the moment since it can be deposited with btc38. When we reach the critical point where getting into bitUSD and bitCNY is as easy as getting into BTS, then slowly all BTS trade volume will shift to the internal exchange and the pegs should begin to solidify.

I haven't been able to run the full node for about a month, no matter how I update it (crashes at reindexing). At this point I've given up and am simply waiting for the lightweight client

Offline onceuponatime

Re: please provide some liquidity and feeds
« Reply #12 on: January 04, 2015, 08:47:02 PM »
Indeed. I'm really excited about the idea of buying bitgold but there are no feeds. BitUSD is great! However, I think if we had a liquid bitgold market, it would give us huge exposure!

BitGOLD and bitSILVER have feeds and are functioning markets (although with very low liquidity). I have been buying both for weeks now.

One of the problems is that peeople (even in this thread) are quoting the wrong symbols. it is NOT bitgld  BUT bitGOLD .


Offline onceuponatime

Re: please provide some liquidity and feeds
« Reply #13 on: January 04, 2015, 08:53:04 PM »
Quote
the problem is most people won't risk buying something, even if undervalued, with the risk of not being able to sell it later! though if it is like you say, they could have nice profits

And this is the reason for the OP. If we don't believe as a community that whatever bitasset we buy we will be able to sell it later at a FMV then how do we expect from others to do that for us? This will be the end of BTS. If people buy i.e bitgold at FMV and then are obliged to sell it at 20% because no one else is buying at FMV then less and less people will use BTS..

I think that Bitusd, bitcny, bitbtc, biteur,bitgld,bitoil should have liquidity and traded to the peg in order for BTS to expand to anything else and succeed. We should be away from the "experiment" phase of bitusd and these important bitassets by now..The days of bitusd at a discount 15% - 20% are long gone and same should apply to the rest of the important bitassets

You are totally right in your analysis, but we shouldn't try to get everything online at once, it needs to be done one at a time. Right now you can't even put a significant amount of money into bitUSD and have it stay liquid. BitCNY seems to be our only functional MPA at the moment since it can be deposited with btc38. When we reach the critical point where getting into bitUSD and bitCNY is as easy as getting into BTS, then slowly all BTS trade volume will shift to the internal exchange and the pegs should begin to solidify.

I haven't been able to run the full node for about a month, no matter how I update it (crashes at reindexing). At this point I've given up and am simply waiting for the lightweight client

Liquidity is absolutely the problem - and I argued against adding bitOIL and other options people were calling for until there is more capital in our system. However, since dollars and cny are both fiat currencies with huge systemic risk, I was in favor of the bitGOLD and bitSILVER markets opening right away. Gold and silver do not face the counterparty risk that fiats do. They have virtually no risk of collapsing to zero like ALL fiats eventually will.


Offline Shentist

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Re: please provide some liquidity and feeds
« Reply #14 on: January 04, 2015, 08:58:42 PM »
I think there are feeds and last time I have checked the feed price is a fair price for bitgold. The buyers are asking bitgold at $890 - $900 and that doesn't make sense...bitgold should be traded @ 85,700 - 87,700 bts at current market rates

the feedprice is roughly 86.000

maybe you look into bitSILVER ?

you can't trade at the moment bitBTC:bitGold

 

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