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Offline Rune

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Project: BitUSD Liquidity
« on: January 16, 2015, 01:09:00 PM »

Wondering what you can do to help bitshares up to the 1.0 launch?

Toast has written a market maker bot for BTC/BitUSD on bter.com that Riverhead is now running (possibly others)

https://bter.com/trade/btc_bitusd

Volume is only 10 BTC so far, but notice the spread is around 5%. If you check out NuBits you can see that their spread is more or less the same: https://bter.com/trade/nbt_btc

This is most likely because the "trusted" custodians have lost shitloads of money by getting BTC dumped on them in the last crash, so they have widened their spread in an attempt to make money so they'll  stop being a fractional reserve. This is our moment to steal their market and surpass them as _the_ 1 USD token. All we have to do is to keep our spread lower, and then pump the volume! BTC isn't crashing any more so market making at a small spread will be profitable!

If you want to help BitUSD get adoption then get on bter now and start trading!!! Lets push the volume to at least 100 BTC as soon as possible!

Offline kaibakker

Re: Project: BitUSD Liquidity
« Reply #1 on: January 16, 2015, 01:31:20 PM »
 +5%

Offline Rune

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Re: Project: BitUSD Liquidity
« Reply #2 on: January 16, 2015, 01:33:56 PM »
Crossposted to the chinese forum in crappy chinese:

https://bitsharestalk.org/index.php?topic=13376.0

This has to be done as a community effort, this is our chance to finally get an easy way into bitUSD! If you have any BitUSD to spare, put it on the exchange and start market making!

Offline fuzzy

Re: Project: BitUSD Liquidity
« Reply #3 on: January 16, 2015, 01:34:02 PM »
Wondering what you can do to help bitshares up to the 1.0 launch?

Toast has written a market maker bot for BTC/BitUSD on bter.com that Riverhead is now running (possibly others)

https://bter.com/trade/btc_bitusd

Volume is only 10 BTC so far, but notice the spread is around 5%. If you check out NuBits you can see that their spread is more or less the same: https://bter.com/trade/nbt_btc

This is most likely because the "trusted" custodians have lost shitloads of money by getting BTC dumped on them in the last crash, so they have widened their spread in an attempt to make money so they'll  stop being a fractional reserve. This is our moment to steal their market and surpass them as _the_ 1 USD token. All we have to do is to keep our spread lower, and then pump the volume! BTC isn't crashing any more so market making at a small spread will be profitable!

If you want to help BitUSD get adoption then get on bter now and start trading!!! Lets push the volume to at least 100 BTC as soon as possible!

Every day, I want to drink a beer with you more...

Crossposted to the chinese forum in crappy chinese:

https://bitsharestalk.org/index.php?topic=13376.0

This has to be done as a community effort, this is our chance to finally get an easy way into bitUSD! If you have any BitUSD to spare, put it on the exchange and start market making!

Nice job on the crappy chinese, though I assure you most of our Chinese is worse. :)
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Offline btswildpig

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Re: Project: BitUSD Liquidity
« Reply #4 on: January 16, 2015, 01:37:25 PM »
Crossposted to the chinese forum in crappy chinese:

https://bitsharestalk.org/index.php?topic=13376.0

This has to be done as a community effort, this is our chance to finally get an easy way into bitUSD! If you have any BitUSD to spare, put it on the exchange and start market making!

Totally nailed it
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Offline Rune

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Re: Project: BitUSD Liquidity
« Reply #5 on: January 16, 2015, 01:50:22 PM »
Okay they just added their huge walls back at a 1% spread... Well, we can still beat them at this if we just get somewhat close. Having those artificial walls means they lose money over time. We just need to educate people that our collateral is more sound, and then get volume and walls going!

edit: aaand it's gone.

I have a feeling people are cashing out of nubits and into other cryptos, and the market makers are running out of collateral to enforce the peg with, so they're wary of putting up the nubits sell wall. If we got BitUSD/BTC running as well we can contribute to the meltdown!
« Last Edit: January 16, 2015, 01:54:03 PM by Rune »

Offline bytemaster

Re: Project: BitUSD Liquidity
« Reply #6 on: January 16, 2015, 02:14:20 PM »
We will know they are in trouble when they start offering interest to park. 
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Offline Empirical1.1

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Re: Project: BitUSD Liquidity
« Reply #7 on: January 16, 2015, 02:26:40 PM »
We will know they are in trouble when they start offering interest to park.

I expect that their system could collapse quickly at that point.

I didn't understand any of the equations Nubits used, I can only do A+B=C. But it seemed they gave both systems a similar failure risk, even though BitUSD is a heavily collateralised system and theirs has very little collateral and relies on a parking premium to incentivise demand. I expect their system will collapse with a significant rise in interest rates, because that signifies a significant fall in demand to the market and only then, do you have to worry about how much interest they can afford to pay and for how long they'll do it before giving up if the system is getting away from them.

Hmm. Well my description is wrong in that the interest rate incentivises parking which removes supply but I guess it also incentivises demand in that new demand might buy NuBits just to park and earn interest. I think.
« Last Edit: January 16, 2015, 03:01:14 PM by Empirical1.1 »

Offline liondani

Re: Project: BitUSD Liquidity
« Reply #8 on: January 16, 2015, 02:46:13 PM »
We will know they are in trouble when they start offering interest to park.

I think they are already in trouble....http://coinmarketcap.com/assets/nushares/#charts

NuShares 35% decline, the biggest from all** cryptos right now!
Lee is probably selling before his supporters have the change to do it...  :P

edit:
** the biggest decline from the 100 major crypto-currencies
« Last Edit: January 16, 2015, 02:50:30 PM by liondani »
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Offline lafona

Re: Project: BitUSD Liquidity
« Reply #9 on: January 16, 2015, 02:56:15 PM »
Wondering what you can do to help bitshares up to the 1.0 launch?

Toast has written a market maker bot for BTC/BitUSD on bter.com that Riverhead is now running (possibly others)

https://bter.com/trade/btc_bitusd

Volume is only 10 BTC so far, but notice the spread is around 5%. If you check out NuBits you can see that their spread is more or less the same: https://bter.com/trade/nbt_btc

This is most likely because the "trusted" custodians have lost shitloads of money by getting BTC dumped on them in the last crash, so they have widened their spread in an attempt to make money so they'll  stop being a fractional reserve. This is our moment to steal their market and surpass them as _the_ 1 USD token. All we have to do is to keep our spread lower, and then pump the volume! BTC isn't crashing any more so market making at a small spread will be profitable!

If you want to help BitUSD get adoption then get on bter now and start trading!!! Lets push the volume to at least 100 BTC as soon as possible!
Do you have a link to the market maker bot post?
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Offline Rune

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Re: Project: BitUSD Liquidity
« Reply #10 on: January 16, 2015, 03:01:17 PM »

Online nomoreheroes7

Re: Project: BitUSD Liquidity
« Reply #11 on: January 16, 2015, 03:08:55 PM »
lol rune, are you shuai?

Nice post whoever wrote that. Just controversial enough to stir up some shit and get people thinking.

Offline Rune

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Offline monsterer

Re: Project: BitUSD Liquidity
« Reply #13 on: January 16, 2015, 03:11:05 PM »
I'll be interest to know if you manage to break even with this strategy - market making is very hard to get right.
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Offline vlight

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Re: Project: BitUSD Liquidity
« Reply #14 on: January 16, 2015, 03:12:15 PM »
https://bitcointalk.org/index.php?topic=926934.0 :)

lololol, they want to use 10x leverage..... hahaha this is game over ... that disqualifies Nubits as a competition to BitUSD.

 

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