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Offline mf-tzo

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Bitassets trading
« on: June 19, 2015, 09:11:37 AM »

Guys,

I know that you know what I am about to say but still that is not good. If we don't change that then the whole bitshares project won't survive. We do not need to wait for Bitshares 2 to happen in order to change that..We can do that now as long as the bitassets holders put some limits in their greediness...I know that liquidity is an issue but still..

I think it is unacceptable to demand 10%-15% above the peg to sell your bitusds...I am all for trading within BTS exchange but seeing that just makes me want to transfer my BTS to an external exchange, convert to BTC and get normal USDs..And I do not want to go to any external exchange or get usd but rather prefer to stay in our internal exchange and get some bitusd and cover my position..

Demanding so much premium for bitusds just kills liquidity and drives people to trade in external exchanges..Just my 2bts anyway..

Plus..it doesn't even make sense to ask so much premium for the bitusd since one can buy very cheap bitusd via CEEDK now..We shouldn't drive people from the internal exchange to external exchanges..It just doesn't make sense..
« Last Edit: June 19, 2015, 09:24:54 AM by mf-tzo »

Offline xeroc

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Re: Bitassets trading
« Reply #1 on: June 19, 2015, 09:47:11 AM »
I fully agree .. can we have a public open source market making bot that is easy to use? Nubits are doing quite well with them IMHO
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu

Offline cylonmaker2053

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Re: Bitassets trading
« Reply #2 on: June 19, 2015, 01:01:42 PM »
i agree, it sucks there's such a large premium over peg for the bitUSD...the only fix i see is for the entire Bitshares system to gain popularity as a digital fiat proxy; add a few billion more to the system and that premium will be driven very quickly to the peg. Until then...

Offline cylonmaker2053

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Re: Bitassets trading
« Reply #3 on: June 19, 2015, 01:11:22 PM »
also a similar problem in the bitGOLD market. I have a buy order sitting there above peg, but no takers as of yet...

sumantso

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Re: Bitassets trading
« Reply #4 on: June 19, 2015, 01:14:20 PM »
Don't worry, BM's lopsided BitAssets 2.0 means you will continue paying a premium while buying.

Offline cylonmaker2053

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Re: Bitassets trading
« Reply #5 on: June 19, 2015, 02:28:35 PM »
Don't worry, BM's lopsided BitAssets 2.0 means you will continue paying a premium while buying.

why's that?

Offline mf-tzo

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Re: Bitassets trading
« Reply #6 on: June 19, 2015, 03:10:15 PM »
paying always a premium for bitusd since it is superior to usd is good and should be always be like that. But that premium should be like 1%-5% maximum. 10%-15% is driving people away and drives them to trade in centralized platforms..

I managed to buy the bitusd needed to cover my short positions now, but shorting is definitely something that I will never do again now matter how liquid BTS is..Because greediness is really high..If people with bitassets never sell at "normal' prices then it is impossible for others to cover...

Same issues with BitBTC as well..I mean I really want to have bitbtc..They are faster than btc and I really can't be bothered to synchronize the whole BTC wallet for such small amounts that I trade. But it is insane to expect that someone will pay more than 2-3% to buy bitbtc especially since the market is so illiquid and especially since centralized exchanges do not trade bitbtc..

I hope bitshares 2 is released soon and liquidity increases soon..

Offline carpet ride

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Re: Bitassets trading
« Reply #7 on: June 19, 2015, 03:13:38 PM »
Are we actually paying a premium for BitUSD or are fiat users paying the premium to account for inefficiencies?


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Offline cylonmaker2053

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Re: Bitassets trading
« Reply #8 on: June 19, 2015, 03:46:16 PM »
paying always a premium for bitusd since it is superior to usd is good and should be always be like that. But that premium should be like 1%-5% maximum. 10%-15% is driving people away and drives them to trade in centralized platforms..

I managed to buy the bitusd needed to cover my short positions now, but shorting is definitely something that I will never do again now matter how liquid BTS is..Because greediness is really high..If people with bitassets never sell at "normal' prices then it is impossible for others to cover...

Same issues with BitBTC as well..I mean I really want to have bitbtc..They are faster than btc and I really can't be bothered to synchronize the whole BTC wallet for such small amounts that I trade. But it is insane to expect that someone will pay more than 2-3% to buy bitbtc especially since the market is so illiquid and especially since centralized exchanges do not trade bitbtc..

I hope bitshares 2 is released soon and liquidity increases soon..

hey maybe more people will build BTS market making trade bots  :)

 

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