Author Topic: Who here wants to BUY BitUSD and at what price?  (Read 6398 times)

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Offline tonyk

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With a heavy heart I will also buy for my day to day purchases  :)
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline donkeypong

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Offline 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  :)

Offline Gentso1

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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.

Offline toast

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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.
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Offline 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.  :P

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.
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Offline donkeypong

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

Offline 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. 
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 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.
Pjo39s6hfpWexsZ6gEBC9iwH9HTAgiEXTG

Offline betax

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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.
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Offline HackFisher

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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.
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 donkeypong

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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.

Offline BldSwtTrs

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

Offline 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
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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 tonyk

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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.
+5% +5% +5%

Big, Small and Average size merchants...Preferably ALL
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.