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Offline bytemaster

Who here wants to BUY BitUSD and at what price?
« on: August 20, 2014, 01:34:35 AM »

The purpose of this thread is to gauge interest in buying BitUSD when the market first turns on. 

For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline alt

Re: Who here wants to BUY BitUSD and at what price?
« Reply #1 on: August 20, 2014, 01:41:39 AM »
I want to know how much more than what price.
I will buy at price 1:1, but maybe only 10$
after I can use these bitUSD to buy a toast, I will buy more.

Offline bytemaster

Re: Who here wants to BUY BitUSD and at what price?
« Reply #2 on: August 20, 2014, 01:43:23 AM »
I want to know how much more than what price.
I will buy at price 1:1, but maybe only 10$
after I can use these bitUSD to buy a toast, I will buy more.

Sorry, Toast is not for sale... I call dibs.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Riverhead

Re: Who here wants to BUY BitUSD and at what price?
« Reply #3 on: August 20, 2014, 01:49:15 AM »
Since the current market price of a BTSX share is $0.01 and a bitUSD is pegged to USD minus discount for risk I'd pay about 75 - 90 BTSX for a bitUSD when it first IPOs.  Half life to parity as the days mount without serious incident.

Offline toast

Re: Who here wants to BUY BitUSD and at what price?
« Reply #4 on: August 20, 2014, 01:49:54 AM »
I will buy at 1% above the highest bid up to 0.95 USD worth. Spreads lower than that I will leave to the robots.

I think I have enough BTSX that the perception of a stable peg helps me more than having max leverage.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline toast

Re: Who here wants to BUY BitUSD and at what price?
« Reply #5 on: August 20, 2014, 01:51:51 AM »
My arbitrage bot will start long BitUSD just because it is easier for me to reason about.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline bytemaster

Re: Who here wants to BUY BitUSD and at what price?
« Reply #6 on: August 20, 2014, 01:53:19 AM »
I will buy it to pay bounties and developers.   
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Riverhead

Re: Who here wants to BUY BitUSD and at what price?
« Reply #7 on: August 20, 2014, 01:55:51 AM »
My arbitrage bot will start long BitUSD just because it is easier for me to reason about.


You have a bot already for BTSX/USD? I guess there's been a lot of opportunity to test it.

Offline toast

Re: Who here wants to BUY BitUSD and at what price?
« Reply #8 on: August 20, 2014, 01:56:50 AM »
My arbitrage bot will start long BitUSD just because it is easier for me to reason about.


You have a bot already for BTSX/USD? I guess there's been a lot of opportunity to test it.

not yet but it's not very complicated, you're just trading relative to a feed
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline onceuponatime

Re: Who here wants to BUY BitUSD and at what price?
« Reply #9 on: August 20, 2014, 02:00:01 AM »
I want to help kick start the market. My understanding of the system is limited, but I am willing to buy 500,000 btsx worth of bitUSD at slightly higher than highest bid up to 98 cents.

Offline bytemaster

Re: Who here wants to BUY BitUSD and at what price?
« Reply #10 on: August 20, 2014, 02:01:45 AM »
I suspect that at launch BitUSD will be "cheap" because the expected increase in BTSX price will cause most believers in BitUSD to want to be Leveraged BTSX...  however... once the price jumps many will probably want to buy BitUSD for the expected correction.   

Early on I expect BitUSD to be rather volatile around the USD price.... First below, then Above... etc... lots of money to be made playing the volatility until the bots take over.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Riverhead

Re: Who here wants to BUY BitUSD and at what price?
« Reply #11 on: August 20, 2014, 02:04:59 AM »
It'll be a different game for the bots with 5 second average trade time and pay per request not just pay per fill.

Offline alt

Re: Who here wants to BUY BitUSD and at what price?
« Reply #12 on: August 20, 2014, 02:18:52 AM »
Another very important reason that I can't hold much bitusd is
If btsx is failed. and you release a new bitshares X, or other chain, all the bitUSD worth nothing, right?
new chain only honer XTS holder

bitbro

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Re: Who here wants to BUY BitUSD and at what price?
« Reply #13 on: August 20, 2014, 02:20:45 AM »

Another very important reason that I can't hold much bitusd is
If btsx is failed. and you release a new bitshares X, or other chain, all the bitUSD worth nothing, right?
new chain only honer XTS holder

This needs to be addressed.  If true BitUSD is significantly more risky


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Offline tonyk

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Re: Who here wants to BUY BitUSD and at what price?
« Reply #14 on: August 20, 2014, 02:26:02 AM »

Another very important reason that I can't hold much bitusd is
If btsx is failed. and you release a new bitshares X, or other chain, all the bitUSD worth nothing, right?
new chain only honer XTS holder

This needs to be addressed.  If true BitUSD is significantly more risky


Sent from my iPhone using Tapatalk

Yes, I have always thought that future chains should honor not only BTSX but also collateralized  assets (somehow).
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

 

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