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jakub

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Can anybody explain why the BitCNY:BTS market has a balanced order book while the BitUSD:BTS market seems to be in a deadlock: there is a big wall on the bid side and nothing happening on the ask side.
What's the reason for such discrepancy between these markets?
« Last Edit: May 24, 2015, 05:59:00 PM by jakub »

Online lil_jay890

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Re: Why BitCNY:BTS market is so different from BitUSD:BTS market?
« Reply #1 on: May 24, 2015, 05:53:28 PM »
I think it may be because bitCNY market cap has been increasing gradually unlike bitUSD that was pumped to near 1 mil market cap and now has dropped 90%... I think the book would be much more balanced if the bitUSD shorts weren't frozen like they are now.  It's kind of weird that shorts have a 30 day window before they expire, but the buyer of the newly created bitUSD can hold forever.

Offline Ben Mason

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Re: Why is BitCNY:BTS market so different from BitUSD:BTS market?
« Reply #2 on: May 24, 2015, 06:12:33 PM »
Could it be due to a general expectation for USD to collapse in the near future.  Should a devaluation occur, it would be rather awkward for anyone with a significant bitusd position.

Probably more sensible to hold bitgold, bitsilver and their ilk....

Offline mf-tzo

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Re: Why is BitCNY:BTS market so different from BitUSD:BTS market?
« Reply #3 on: May 24, 2015, 06:20:17 PM »
Could it be due to a general expectation for USD to collapse in the near future.  Should a devaluation occur, it would be rather awkward for anyone with a significant bitusd position.

Probably more sensible to hold bitgold, bitsilver and their ilk....

I doubt this is the reason...I for once want some bitusd but I do not plan to buy them at 10% above the peg and I don't want some bitusd if the market cap of Bitshares is at these levels..
Why Bitbtc has no trading as well??

I think the reason that the bitusd book is like that compared to the bitcny book is because most of the trading happens in btc38 between btc and cny and bts.. usd trading is just non existent..BTS is still alive because of Chinese investors mostly I think, who see the potential more clearly than the rest..

Unless there are actually markets that accept at all times bitusd=usd at all times with high volume I think that book will look like this forever..

I may be wrong though..

Offline jshow5555

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Re: Why is BitCNY:BTS market so different from BitUSD:BTS market?
« Reply #4 on: May 24, 2015, 06:43:08 PM »


Because nobody cares about 5%+ arbitrage opportunity*. One of the reasons why I consider this project dead.




*
193/167 =1.15568; 15.568 % return

Capital needed 2x short bitUSD; 1x buy bitCNY . Total 3x

15.568 %/ 3 = 5.19%

Offline Ben Mason

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Re: Why is BitCNY:BTS market so different from BitUSD:BTS market?
« Reply #5 on: May 24, 2015, 07:46:38 PM »
Could it be due to a general expectation for USD to collapse in the near future.  Should a devaluation occur, it would be rather awkward for anyone with a significant bitusd position.

Probably more sensible to hold bitgold, bitsilver and their ilk....

I doubt this is the reason...I for once want some bitusd but I do not plan to buy them at 10% above the peg and I don't want some bitusd if the market cap of Bitshares is at these levels..
Why Bitbtc has no trading as well??

I think the reason that the bitusd book is like that compared to the bitcny book is because most of the trading happens in btc38 between btc and cny and bts.. usd trading is just non existent..BTS is still alive because of Chinese investors mostly I think, who see the potential more clearly than the rest..

Unless there are actually markets that accept at all times bitusd=usd at all times with high volume I think that book will look like this forever..

I may be wrong though..
I expect you are right, the bitusd market is not functioning correctly. Other issues are probably contributing factors.

Offline Ben Mason

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Re: Why is BitCNY:BTS market so different from BitUSD:BTS market?
« Reply #6 on: May 24, 2015, 07:50:34 PM »


Because nobody cares about 5%+ arbitrage opportunity*. One of the reasons why I consider this project dead.




*
193/167 =1.15568; 15.568 % return

Capital needed 2x short bitUSD; 1x buy bitCNY . Total 3x

15.568 %/ 3 = 5.19%
A product is in production with a strong community of supporters....don't you think 'dead' is a little dramatic? Hey, each to their own though.... ;)

Offline mf-tzo

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Re: Why is BitCNY:BTS market so different from BitUSD:BTS market?
« Reply #7 on: May 24, 2015, 07:52:47 PM »


Because nobody cares about 5%+ arbitrage opportunity*. One of the reasons why I consider this project dead.




*
193/167 =1.15568; 15.568 % return

Capital needed 2x short bitUSD; 1x buy bitCNY . Total 3x

15.568 %/ 3 = 5.19%

Just bought my first ever bitCNY since you made that post..
Thanks  :) since bitcny is sold at peg and bitusd at premium I would rather just buy some bitcny for now..

I think it is not people don't care about the +5% or +10% of arbitrage,,it is just not easy to identify unless you follow 24/7 or have a bot doing that for you..If we make things easier liquidity will come..If there was a pair of bitcny:bitusd now things would be different liquidity wise..

Offline onceuponatime

Re: Why is BitCNY:BTS market so different from BitUSD:BTS market?
« Reply #8 on: May 24, 2015, 07:58:16 PM »


Because nobody cares about 5%+ arbitrage opportunity*. One of the reasons why I consider this project dead.




*
193/167 =1.15568; 15.568 % return

Capital needed 2x short bitUSD; 1x buy bitCNY . Total 3x

15.568 %/ 3 = 5.19%
A product is in production with a strong community of supporters....don't you think 'dead' is a little dramatic? Hey, each to their own though.... ;)

If he thinks that this project is "dead", but continues to follow and post on this forum...then he values his time at zero, which is probably what it is worth  :)

jakub

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Re: Why BitCNY:BTS market is so different from BitUSD:BTS market?
« Reply #9 on: May 24, 2015, 09:06:10 PM »
I think it may be because bitCNY market cap has been increasing gradually unlike bitUSD that was pumped to near 1 mil market cap and now has dropped 90%... I think the book would be much more balanced if the bitUSD shorts weren't frozen like they are now.  It's kind of weird that shorts have a 30 day window before they expire, but the buyer of the newly created bitUSD can hold forever.
So it seems this huge wall of bids on the BitUSD:BTS market consists of expired shorts which cannot find anyone willing to sell bitUSD to them, is this correct?
And regarding these shorts being expired, can their owners do something to get out of this situation or are they just forced to wait until finally someone sells them some bitUSD?
And what happens when the market call price (currently around 167 BTS/bitUSD) starts hitting their call prices listed in the margin call orders (the lowest one being 381 BTS/bitUSD)?

Please forgive my ignorance, I'm trying to educate myself.

Offline Ander

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Re: Why is BitCNY:BTS market so different from BitUSD:BTS market?
« Reply #10 on: May 24, 2015, 09:43:06 PM »
Btc38 accepts bitCNY as real CNY, therefore it is useful.  bitUSD is not as useful yet.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline alt

Re: Why is BitCNY:BTS market so different from BitUSD:BTS market?
« Reply #11 on: May 24, 2015, 09:50:12 PM »
Btc38 accepts bitCNY as real CNY, therefore it is useful.  bitUSD is not as useful yet.
this can help bitcny price not drop down.
I think bitcny price not up because some people,like bitcrab, provied the supply, when people want bitcny,he short to himself,then sell at transwiser.com.

来自我的 HUAWEI P7-L00 上的 Tapatalk


Offline mf-tzo

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Re: Why is BitCNY:BTS market so different from BitUSD:BTS market?
« Reply #12 on: May 25, 2015, 03:41:47 PM »
Btc38 accepts bitCNY as real CNY, therefore it is useful.  bitUSD is not as useful yet.
this can help bitcny price not drop down.
I think bitcny price not up because some people,like bitcrab, provied the supply, when people want bitcny,he short to himself,then sell at transwiser.com.

来自我的 HUAWEI P7-L00 上的 Tapatalk

wow...I think the Chinese are in front .. I didn't know anything about transwiser.com existed and not sure how that works..i am somewhere lost in translation.
I don't understand why metaexchange or blocktrade (not saying as a complain, they do provide a GREAT service) or anyone else don't do something similar as liquidity providers with bots to shorting to themselves and sell the bitusd at peg more or less but instead everyone is charging +++% for the bitusd..





Offline Ben Mason

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Re: Why is BitCNY:BTS market so different from BitUSD:BTS market?
« Reply #14 on: May 25, 2015, 06:28:55 PM »
Could it be due to a general expectation for USD to collapse in the near future.  Should a devaluation occur, it would be rather awkward for anyone with a significant bitusd position.

Probably more sensible to hold bitgold, bitsilver and their ilk....

Yeah.. have you looked at these markets?;)

If you thought BTS:BitUSD was unfair..
I wish I could, looking forward to being able to run the client....i defo ate my whole foot on this one.

 

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