Listing BitUSD on centralized exchanges?

[Xeldal]

BTSX still needs a legacy connection of course.  I see the exchanges focusing on that and more specialized low latency front ends essentially built on top of the BTSX platform.

The more exchanges that adopt a bitUSD or BTSXasset, the more stable all exchanges get, through arbitrage.  and likely an increased overall trading volume.  I think it works to their favor to include it, across the board.

No it gonna be bitUSD taking over the world!

BTSX will be just the foundation on which bitUSD exists!


PS Funny how I turned out to be the bigger optimist at the end...

Except that bitUSD will ultimately be subject to the same fate as USD.  And that one, we know, may not last much longer.

[Simeon II]

No it gonna be bitUSD taking over the world!

BTSX will be just the foundation on which bitUSD exists!


PS Funny how I turned out to be the bigger optimist at the end...

[Empirical1]

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.     

[Simeon II]

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 )    :)

[Empirical1]

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.

[Simeon II]

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...

[Simeon II]

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?

[Empirical1]

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.

[biophil]

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

[Simeon II]

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.

[Empirical1]

@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?

[Simeon II]

@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!

[Empirical1]

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. 

[Simeon II]

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.

[luckybit]

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.