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Offline bitcoinerS

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Listing BitUSD on centralized exchanges?
« on: July 29, 2014, 09:22:33 PM »

I wonder what it would take to list and trade BitUSD (after it works well on Bitshare X exchange) on regular centralized exchanges. If market peg holds, BitUSD is likely to be a very popular "coin", as well as, likely a few other synthetic assets. Any plans on making it possible to trade Bitshares "derivative" assets on central exchanges?
>>> approve bitcoiners

Offline speedy

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Re: Listing BitUSD on centralized exchanges?
« Reply #1 on: July 29, 2014, 10:37:40 PM »
+5%

BitUSD Should be listed on coinmarketcap too :)

Offline luckybit

Re: Listing BitUSD on centralized exchanges?
« Reply #2 on: July 29, 2014, 10:42:23 PM »
I wonder what it would take to list and trade BitUSD (after it works well on Bitshare X exchange) on regular centralized exchanges. If market peg holds, BitUSD is likely to be a very popular "coin", as well as, likely a few other synthetic assets. Any plans on making it possible to trade Bitshares "derivative" assets on central exchanges?

Why would a centralized exchange want to list something which could put them out of business?
Maybe so people can cash out BitUSD but thats about it.
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Offline Simeon II

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Re: Listing BitUSD on centralized exchanges?
« Reply #3 on: July 29, 2014, 10:52:13 PM »
I wonder what it would take to list and trade BitUSD (after it works well on Bitshare X exchange) on regular centralized exchanges. If market peg holds, BitUSD is likely to be a very popular "coin", as well as, likely a few other synthetic assets. Any plans on making it possible to trade Bitshares "derivative" assets on central exchanges?

Why would a centralized exchange want to list something which could put them out of business?
Maybe so people can cash out BitUSD but thats about it.

Actually, everything that is now traded in BTC will be traded in bitUSD... if all goes as planed.

Offline Empirical1

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Re: Listing BitUSD on centralized exchanges?
« Reply #4 on: July 29, 2014, 11:23:17 PM »
I'm not sure about these things but I don't think it's possible. If it was, it just becomes an IOU so would be no better and probably worse by comparison than the currency options some centralised exchanges already offer.

Potentially tracking the CAP on coinmarketcap could be good & maybe possible. 



Offline Simeon II

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Re: Listing BitUSD on centralized exchanges?
« Reply #5 on: July 29, 2014, 11:30:38 PM »
@Empirical1 not it is far more than IOU


 mostly
@luckybit

Not only bitUSD is not a coin!
I have even more scary news for you. It is NOT MINED!
I sincerely hope those news did not caused you any heart attacks!

Offline Empirical1

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Re: Listing BitUSD on centralized exchanges?
« Reply #6 on: July 29, 2014, 11:33:38 PM »
@Empirical1 not it is far more than IOU

When you try take it off the X blockchain and put it on a centralised exchange, even if it were possible, it becomes just an IOU, no?

Offline Simeon II

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Re: Listing BitUSD on centralized exchanges?
« Reply #7 on: July 29, 2014, 11:38:28 PM »
What do you mean take it off the blockchain?

It will be taken off the blockchain at the centralized exchanges as much as BTC (or any other coin) is taken from the blockchain at said exchanges.

Offline biophil

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Re: Listing BitUSD on centralized exchanges?
« Reply #8 on: July 29, 2014, 11:39:43 PM »
My first reaction is "of course it will be listed on centralized exchanges!" Luckybit has a good point, but the reality us that if it puts centralized exchanges out of business, it will do so whether they list it or not. So sure, maybe some exchanges will put their heads in the sand and pretend bitusd doesn't exist, but the exchanges that last the longest will be the ones that embrace the new paradigm and profit from bitusd's dominance. Any exchange that lists bitusd will make a killing as it starts to overtake bitcoin as the default unit of account in the crypto world.

The thing is, if an exchange wants to list bitusd, there isn't a damn thing we could do about it even if we wanted to. Thus my conclusion that someone will certainly do it sooner or later.

Actually, I think day traders will always prefer centralized exchanges over decentralized ones because they're faster and they don't charge you fees to place orders. But that's just my hunch - I wouldn't put any money on it.

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Offline Empirical1

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Re: Listing BitUSD on centralized exchanges?
« Reply #9 on: July 29, 2014, 11:41:43 PM »
What do you mean take it off the blockchain?

It will be taken off the blockchain at the centralized exchanges as much as BTC (or any other coin) is taken from the blockchain at said exchanges.

bter already lets you keep CNY so why keep BitCNY on the exchange? With both you have to trust the exchange won't take your money but with BitCNY you have the additional risk of the peg not holding.

Offline Simeon II

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Re: Listing BitUSD on centralized exchanges?
« Reply #10 on: July 29, 2014, 11:49:17 PM »
What do you mean take it off the blockchain?

It will be taken off the blockchain at the centralized exchanges as much as BTC (or any other coin) is taken from the blockchain at said exchanges.

bter already lets you keep CNY so why keep BitCNY on the exchange? With both you have to trust the exchange won't take your money but with BitCNY you have the additional risk of the peg not holding.

How easy is to deposit real USD in Bter (and all  cryto-only exchanges) ...
 yes in bret it will be CNY or bitCNY whatever you choose...
 And then again why they have bigger/more BTC markets than CNY markets?

Offline Simeon II

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Re: Listing BitUSD on centralized exchanges?
« Reply #11 on: July 29, 2014, 11:53:30 PM »
My first reaction is "of course it will be listed on centralized exchanges!" Luckybit has a good point, but the reality us that if it puts centralized exchanges out of business, it will do so whether they list it or not. So sure, maybe some exchanges will put their heads in the sand and pretend bitusd doesn't exist, but the exchanges that last the longest will be the ones that embrace the new paradigm and profit from bitusd's dominance. Any exchange that lists bitusd will make a killing as it starts to overtake bitcoin as the default unit of account in the crypto world.

The thing is, if an exchange wants to list bitusd, there isn't a damn thing we could do about it even if we wanted to. Thus my conclusion that someone will certainly do it sooner or later.

Actually, I think day traders will always prefer centralized exchanges over decentralized ones because they're faster and they don't charge you fees to place orders. But that's just my hunch - I wouldn't put any money on it.

Sent from my SCH-S720C using Tapatalk 2

ALL here assuming market peg USD - bitUSD.!!!!


They will put themselves out of business if they do not 'list' bitUSD.
And by list I mean open at least the same /bitUSD markets they have /BTC...

Offline Empirical1

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Re: Listing BitUSD on centralized exchanges?
« Reply #12 on: July 30, 2014, 12:04:50 AM »
What do you mean take it off the blockchain?

It will be taken off the blockchain at the centralized exchanges as much as BTC (or any other coin) is taken from the blockchain at said exchanges.

bter already lets you keep CNY so why keep BitCNY on the exchange? With both you have to trust the exchange won't take your money but with BitCNY you have the additional risk of the peg not holding.

How easy is to deposit real USD in Bter (and all  cryto-only exchanges) ...
 yes in bret it will be CNY or bitCNY whatever you choose...
 And then again why they have bigger/more BTC markets than CNY markets?

If I'm understanding you, yes, you're right, if it's possible,  BitAssets mean crypto-only exchanges can maybe offer a lot more and bigger options because they are backed up on the X blockchain.

I still don't understand exactly if it's possible.
« Last Edit: July 30, 2014, 12:30:34 AM by Empirical1 »

Offline Simeon II

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Re: Listing BitUSD on centralized exchanges?
« Reply #13 on: July 30, 2014, 12:15:22 AM »
What do you mean take it off the blockchain?

It will be taken off the blockchain at the centralized exchanges as much as BTC (or any other coin) is taken from the blockchain at said exchanges.

bter already lets you keep CNY so why keep BitCNY on the exchange? With both you have to trust the exchange won't take your money but with BitCNY you have the additional risk of the peg not holding.

How easy is to deposit real USD in Bter (and all  cryto-only exchanges) ...
 yes in bret it will be CNY or bitCNY whatever you choose...
 And then again why they have bigger/more BTC markets than CNY markets?

If I'm understanding you, yes, you're right, if it's possible,  BitAssets mean crypto-only exchanges can maybe offer a lot more and bigger options because they are backed up on the X blockchain.

I still don't understand exactly if it's possible.

The only thing I do not understand is how you were so optimistic 2-3 weeks ago, if you did not realize that this is one of the ultimate goals! (i.e. taking over BTC, before taking over the USD/EUR/CNY )    :)

Offline Empirical1

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Re: Listing BitUSD on centralized exchanges?
« Reply #14 on: July 30, 2014, 12:23:17 AM »
What do you mean take it off the blockchain?

It will be taken off the blockchain at the centralized exchanges as much as BTC (or any other coin) is taken from the blockchain at said exchanges.

bter already lets you keep CNY so why keep BitCNY on the exchange? With both you have to trust the exchange won't take your money but with BitCNY you have the additional risk of the peg not holding.

How easy is to deposit real USD in Bter (and all  cryto-only exchanges) ...
 yes in bret it will be CNY or bitCNY whatever you choose...
 And then again why they have bigger/more BTC markets than CNY markets?

If I'm understanding you, yes, you're right, if it's possible,  BitAssets mean crypto-only exchanges can maybe offer a lot more and bigger options because they are backed up on the X blockchain.

I still don't understand exactly if it's possible.

The only thing I do not understand is how you were so optimistic 2-3 weeks ago, if you did not realize that this is one of the ultimate goals! (i.e. taking over BTC, before taking over the USD/EUR/CNY )    :)

 :) I thought people would use a centralised exchange/ATM etc.  to buy BTSX and once they had BTSX then they would trade BitAssets on the X blockchain. It still seemed huge.

Edit: I still don't really get the value of storing the BitAssets on a centralised exchange.     

« Last Edit: July 30, 2014, 12:29:49 AM by Empirical1 »

 

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