BitUSD and BitCNY at poloniex!!!

[Helikopterben]

+5% Well done whoever got that done

http://www.zerohedge.com/sponsored-content?mvi=70f1195ab974462181a3ae68bb1dbc9b

well done to whoever got this done too!

???

An ad for yet another BitGold knock-off?

Anyway, this is huge news. I'm glad to hear that polo is open to give this kind of stuff a try. Now we just need to show them it was worth it...get those puppies trading!

Yet another e-gold, doomed for failure.  It amazes me how people in finance will resurrect a failed model over and over again.

[abit]

How about create a worker proposal for keep some volumes on those pairs?

//Edit:
In order to get bitusd or bitcny into the top 10 list on Poloniex, just need a volume of 20 btc, so the cost for keeping this volume is about 0.16 btc, or 16000 bts at current rate.

[nomoreheroes7]

+5% Well done whoever got that done

http://www.zerohedge.com/sponsored-content?mvi=70f1195ab974462181a3ae68bb1dbc9b

well done to whoever got this done too!

???

An ad for yet another BitGold knock-off?

Anyway, this is huge news. I'm glad to hear that polo is open to give this kind of stuff a try. Now we just need to show them it was worth it...get those puppies trading!

[Helikopterben]

It would be nice to eventually get things like oil, gas, natural gas, copper, corn, cotton, wheat, s&p 500, dow 30, ect. trading.  People can own and trade things originally thought to be untradeable in crypto... and we will own that verticle market, at least for now.

[karnal]

This is GREAT!

edit: Would be even better if we get BitUSD and BitCNY denominated pairs (like they have for USDT). Anyone working on *that*?

[Helikopterben]

This looks like another UIA business opportunity for a nubits-style market-maker bot.  Obviously they are profitable even though the base asset is flawed.

[Ben Mason]

and OBITS....

Great news!  Well done and thanks Polo!

[TravelsAsia]

This is great news, now we need to get MUSE added.

[speedy]

Maybe we could get a fee discount for running market maker bots on that market?

[JonnyB]

Also just noticed that USDT ( https://tether.to/ ) is now only trading as a base asset against BTC.
It used to trade as a base asset against loads of alts but they've obviously removed them as they weren't getting traction.

This could be an opportunity for BITUSD to step up. I'd love to see BITUSD trading as a base asset against other cryptos on poloniex, but like others have already said in this thread Bitshares holders talk to much and don't trade enough.

edit: I was wrong, I was in the margin trading section which is why the other USDT markets wern't showing :-(

[JonnyB]

Wow nice to see polo taking on these. Everybody get trading back and forth just to get that volume up!

[xeroc]

Thanks for adding bitUSD and BitCNY .. but .. it wasn't me .. I don't even have any contacts to polo (yet) .. hope to change that ..

[tonyk]

I think, I am HEAVELY misunderstood here.

I think these are great news.

I also think making a bot on polo is as easy as it gets.

But I still think it will be 6 mo. of me and 2 other traders taking each other's money, one trade at a time...for a net gain of nothing.

Hope I am wrong.

[clout]

ha

anyone willing to trade them? {I am willing to trade them just for he volume}.

or is it gonna be another great "Talk a lot, do not do much".

A thing the BTS community is known for... at least so far.

The reason why it is important to have BitCNY and BitUSD on Poloniex at this point is because we currently don't have the bond market operational. You can now earn interest on your BitCNY and BitUSD. Going forward margin trading in the BitUSD and BitCNY markets on poloniex should increase the volume. Additionally, shapeshift.io currently uses Yunbi's BTC/BitUSD market for their BitUSD bridge. The Poloniex' market could have much more volume than that of Yunbi and if shapeshift switches to relying on the Poloniex BTC/BitUSD market they will also be more inclined to add BitCNY.

[clout]

Very nice!  8)

Note: Shouldn't the market be bitusd:btc instead of btc:bitusd ?

BitUSD is not a base asset, which is annoying but understandable given that it is a newly integrated crypto currency. Hopefully if we can do more volume in their BitUSD/BTC market than is transacted in the the USDT/BTC market we can get BitUSD to serve as a base currency. Additionally, I will be reaching out to both Poloniex and Bittrex (who will be integrating BitCNY soon) to provide an ETH/BitCNY market since there is substantial demand for ETH in china but no ETH/CNY markets.