Who here wants to BUY BitUSD and at what price?

[tonyk]

With a heavy heart I will also buy for my day to day purchases 

[donkeypong]

If needed, so will I.

[onceuponatime]

Hey, it's the tragedy of the commons!

Individual behaviour horizontal, group behaviour vertical:

Code: [Select]

        BTSX     Both    bUSD
BTSX-   -2      ?        1
BTSX+    2      1       -1
It's rational for every individual to simply hold BTSX under the assumption that it will appreciate when the market peg is successful.  However, if everyone holds BTSX the market peg won't be successful. So a bunch of people (or BTSX, at least) have to take one for the team (be collateralized to bUSD) to get the ball rolling.

I already said I would 

[Gentso1]

However, if everyone holds BTSX the market peg won't be successful.

If everyone holds BTSX then there won't even be a market. BitUSD only exists when someone wants to hold it over BTSX.

If there was some kind of BitUSD tp USD gateway that would surely draw people to BitUSD to cash-out for expenses or just a little profit taking.

[toast]

However, if everyone holds BTSX the market peg won't be successful.

If everyone holds BTSX then there won't even be a market. BitUSD only exists when someone wants to hold it over BTSX.

[thisisausername]

If BitUSD existed right now and I was a day-trader, I might buy until after a small correction and consolidation.   Imagine a bitcoin bubble, you are bullish bitcoin but think it has grown too fast, so you switch to USD hoping to buy back in cheaper.   Same deal here.

(Bolding mine.)

Some might argue your rationality has already gone out the window, at that point. 

Note: I'm not saying that I think the market peg won't work.  I think it will.  There are certainly day-traders out there.  Not to mention people straight-up willing to take one for the team,

I think I have enough BTSX that the perception of a stable peg helps me more than having max leverage.

[donkeypong]

True. But it's going to be hard to spot those bubbles for awhile, since this has so far to grow first.

[bytemaster]

Hey, it's the tragedy of the commons!

Individual behaviour horizontal, group behaviour vertical:

Code: [Select]

        BTSX     Both    bUSD
BTSX-   -2      ?        1
BTSX+    2      1       -1
It's rational for every individual to simply hold BTSX under the assumption that it will appreciate when the market peg is successful.  However, if everyone holds BTSX the market peg won't be successful.  So a bunch of people (or BTSX, at least) have to take one for the team (be collateralized to bUSD) to get the ball rolling.

If BitUSD existed right now and I was a day-trader, I might buy until after a small correction and consolidation.   Imagine a bitcoin bubble, you are bullish bitcoin but think it has grown too fast, so you switch to USD hoping to buy back in cheaper.   Same deal here. 

[thisisausername]

Hey, it's the tragedy of the commons!

Individual behaviour horizontal, group behaviour vertical:

Code: [Select]

        BTSX     Both    bUSD
BTSX-   -2      ?        1
BTSX+    2      1       -1
It's rational for every individual to simply hold BTSX under the assumption that it will appreciate when the market peg is successful.  However, if everyone holds BTSX the market peg won't be successful.  So a bunch of people (or BTSX, at least) have to take one for the team (be collateralized to bUSD) to get the ball rolling.

[betax]

I will buy only BitUSD at a low rate 1-50 cents, I know that it will be pegged against USD, but BTSX has just started and it's value is going to up, so it is a initial risk. When we starting we pegging more than one currency then is a great opportunity for day trading, arbing. Like alt pointed out we have the risk of something going wrong and your bitasset investment disappearing.

I believe BitUSD / BitEur / BitGBP etc should start pegged to their value, all tracking the current exchange rates, then we can do the predictions on future value.

[HackFisher]

At the very beginning, I'll buy/sell BitUSD when it is profitable to exchange on BitShares X for BTSX or other exchanges. We need daytraders like this to make this pegging more fluid maybe.

[donkeypong]

Let's try another perspective on this thread. Wikipedia lists 28 countries with double-digit inflation rates. There are 50 countries listed with inflation rates of 7.0% or higher.

http://en.wikipedia.org/wiki/List_of_countries_by_inflation_rate

It's very expensive/difficult to acquire hard currencies in many of these places. And damned impossible to transfer anything out.

If your money was LOSING from 7% to 79% of its value, how much BitUSD would you want to buy? With a few clicks of a button and none of the security issues related to holding physical dollars or gold?
I'm guessing that, once people know about this and trust it, there are a LOT of people who will buy BitUSD.

[BldSwtTrs]

Sorry but I will never buy that shitty money. I have BTC and BTSX, why should I care?

[bytemaster]

Is there any potential exchange or gateway to trade USD and BitUSD?

The value of BitUSD recognized by market also depends on how much merchants are using them, like BTC. We need endorsement from big merchants.

Bter trades BTSX and USD so I think it wouldn't take much for them to offer USD / BitUSD

[tonyk]

Is there any potential exchange or gateway to trade USD and BitUSD?

The value of BitUSD recognized by market also depends on how much merchants are using them, like BTC. We need endorsement from big merchants.

Big, Small and Average size merchants...Preferably ALL

[ripplexiaoshan]

Is there any potential exchange or gateway to trade USD and BitUSD?

The value of BitUSD recognized by market also depends on how much merchants are using them, like BTC. We need endorsement from big merchants.

[bitmeat]

I.e. BitUSD at least at first is supposed to be way more stable.

[bitmeat]

I think a better way to think about it is that you are selling or buying BTSX. After all BTSX captures both the volatilities of BTC and BitUSD.

[merockstar]

I don't plan to buy bitUSD right away. I want to wait until the first clear BTSX bubble.

edit: unless a bitUSD is selling for something obscene like a 25 or 50 cents. then I might buy some.

I may short some into existence if I'm able to catch it immediately after launch.

[bytemaster]

So it'd be like how PTS carried over to BitsharesX as BTSX?

Yes

[Riverhead]

So it'd be like how PTS carried over to BitsharesX as BTSX?

[bytemaster]

It is possible to do a snapshot to BitUSD and USD proportional to market cap.  You would end up with a stake in new systems, but the USD position would not carry over.

[bytemaster]

Actually if the first ever bitUSD can be somehow marked as being the ONE, I am ready to pay some good money for it!

$75 is my first offer!


[EDIT] OK, I though out I plan how to do it and then have a proof. Hope it works.

Oh yeah... this could get interesting.   Place the maximum short possible given the median fee, then place the lowest ask... you are sure to get it... but will pay a hefty fee.  Who ever pays the most overlap will get it.

What happens to BitUSD in the event of a Btsx hard fork?


Sent from my iPhone using Tapatalk

BitUSD is safe in all hard forks..

[bitbro]

Actually if the first ever bitUSD can be somehow marked as being the ONE, I am ready to pay some good money for it!

$75 is my first offer!


[EDIT] OK, I though out I plan how to do it and then have a proof. Hope it works.

Oh yeah... this could get interesting.   Place the maximum short possible given the median fee, then place the lowest ask... you are sure to get it... but will pay a hefty fee.  Who ever pays the most overlap will get it.

What happens to BitUSD in the event of a Btsx hard fork?


Sent from my iPhone using Tapatalk

[bytemaster]

Actually if the first ever bitUSD can be somehow marked as being the ONE, I am ready to pay some good money for it!

$75 is my first offer!


[EDIT] OK, I though out I plan how to do it and then have a proof. Hope it works.

Oh yeah... this could get interesting.   Place the maximum short possible given the median fee, then place the lowest ask... you are sure to get it... but will pay a hefty fee.  Who ever pays the most overlap will get it.

[tonyk]

Actually if the first ever bitUSD can be somehow marked as being the ONE, I am ready to pay some good money for it!

$75 is my first offer!


[EDIT] OK, I though out I plan how to do it and then have a proof. Hope it works.

[tonyk]

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).

[bitbro]

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

[alt]

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

[Riverhead]

It'll be a different game for the bots with 5 second average trade time and pay per request not just pay per fill.

[bytemaster]

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.

[onceuponatime]

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.

[toast]

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

[Riverhead]

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.

[bytemaster]

I will buy it to pay bounties and developers.   

[toast]

My arbitrage bot will start long BitUSD just because it is easier for me to reason about.

[toast]

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.

[Riverhead]

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.

[bytemaster]

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.

[alt]

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.

[bytemaster]

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