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Quote from: bytemaster on January 18, 2014, 08:58:46 pmQuote from: BldSwtTrs on January 18, 2014, 08:28:55 pmThe more I think about Bitshare, the more I understand it and the more I am excited about it. But one thing still comes to my mind that I am not sure about it. Why someone would use bitassets to speculate or hedge against something instead of using what already exist to do so?5% of interest seems pretty high to me and even if it's good for bitshares holders it may be a barrier for using bitassets. I mean Bitcoin is adopted because it lower the costs of transfering and storing value. It wouldn't work if it would make the cost of doing these things higher. So I guess my question is what are the cost one paye to buy a future on gold on a centralized market place, more or less than 5%?Holding BitAssets PAYS you 5% interest. Shorting BitAssets costs you 5% so the borrowing costs are lower than etrade and the savings yield higher than your bank because there is no middle man.Not sure I follow you.I trade options frequently and I don't get charged anything but a contract fee. When I go short on margin from a put contract getting exercised I don't get charged a fee other than a trade fee to buy the stock or sell it. I am Just required to have a certain amount in my account but never the full risk amount.Can you explain what borrowing costs you are talking about? Do you mean lost interest or dividend risk?
Quote from: BldSwtTrs on January 18, 2014, 08:28:55 pmThe more I think about Bitshare, the more I understand it and the more I am excited about it. But one thing still comes to my mind that I am not sure about it. Why someone would use bitassets to speculate or hedge against something instead of using what already exist to do so?5% of interest seems pretty high to me and even if it's good for bitshares holders it may be a barrier for using bitassets. I mean Bitcoin is adopted because it lower the costs of transfering and storing value. It wouldn't work if it would make the cost of doing these things higher. So I guess my question is what are the cost one paye to buy a future on gold on a centralized market place, more or less than 5%?Holding BitAssets PAYS you 5% interest. Shorting BitAssets costs you 5% so the borrowing costs are lower than etrade and the savings yield higher than your bank because there is no middle man.
The more I think about Bitshare, the more I understand it and the more I am excited about it. But one thing still comes to my mind that I am not sure about it. Why someone would use bitassets to speculate or hedge against something instead of using what already exist to do so?5% of interest seems pretty high to me and even if it's good for bitshares holders it may be a barrier for using bitassets. I mean Bitcoin is adopted because it lower the costs of transfering and storing value. It wouldn't work if it would make the cost of doing these things higher. So I guess my question is what are the cost one paye to buy a future on gold on a centralized market place, more or less than 5%?
Quote from: Markus on January 19, 2014, 10:25:54 pmQuote from: bytemaster on January 19, 2014, 02:45:13 pmThe market will introduce a new chain and version 2 of bitshares will use a prediction market to set the rate. If a successor chain like this is introduced, will the genesis block recognise the version 1 holders to 100 % at launch date or will you (have to) stick to your published social contract and acknowledge PTS/AGS with 10 %, leaving max 80 % for version 1 holders?Any chain that inherits a chain that honored AGS and PTS is still valid as this is the means by which chains 'upgrade'. However, upgrading the chain requires funding and thus will consume *new* capital to build and therefore it should be allocated proportional to those who funded it and thus AGS and PTS should be honored 50/50 in the new chain. Of course, to get people to move over to the upgraded chain it might be wise marketing to do 33/33/33. In other words, I don't have an answer for you just yet other than that all of the above strategies would be legitimate.
Quote from: bytemaster on January 19, 2014, 02:45:13 pmThe market will introduce a new chain and version 2 of bitshares will use a prediction market to set the rate. If a successor chain like this is introduced, will the genesis block recognise the version 1 holders to 100 % at launch date or will you (have to) stick to your published social contract and acknowledge PTS/AGS with 10 %, leaving max 80 % for version 1 holders?
The market will introduce a new chain and version 2 of bitshares will use a prediction market to set the rate.