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Offline Marketorder

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BTSX Questions
« on: August 26, 2014, 09:05:53 PM »

When will BTSX be traded on Cryptsy?

How fast is the total quantity depleted?

Has trading on the platform already begun? How active is trading on the BTSX decenterlized trading platform?

How do you back up your BTSX on your wallet?

Do I need to have my BTSX in a wallet to earn interest? Will they earn interest if I hold them on an exchange? How much interest can I make on my shares, please give me examples   
« Last Edit: August 26, 2014, 09:08:24 PM by Marketorder »

Offline speedy

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Re: BTSX Questions
« Reply #1 on: August 26, 2014, 09:15:40 PM »
Hopefully it will be on Crypsy soon.

In the file menu there is "Export Wallet".

Daily burn is about 1500 BTSX currently, last time I checked.

Yes trading BitUSD has begun, there are a few thousand in circulation.

The interest feature hasnt been enabled yet, and no you wont need your wallet on to earn interest.

Enjoy the ride!

Offline puppies

Re: BTSX Questions
« Reply #2 on: August 26, 2014, 09:16:18 PM »
1.  You would have to ask big Vern.  BTSX is still not showing up on https://www.cryptsy.com/coinvotes/ although I am sure people have suggested it. 

2.  There are a whole lot of factors that go into that.  We are currently burning 21.06% of fees. 

3.  Yes trading has begun for Bit_USD/BTSX.  184,106.7625 USD is currently in circulation.  I am not sure how to check trading volume.

4.  File>>export wallet

5.  No.  Interest is earned by reducing the total supply.  Your coins will increase in value as the percentage of the total market cap that they make up increases.  You should still not keep much on the exchanges.  With on blockchain trading there is no reason too, and it is an unnecessary risk.
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Offline speedy

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Re: BTSX Questions
« Reply #3 on: August 26, 2014, 09:19:18 PM »
5.  No.  Interest is earned by reducing the total supply.  Your coins will increase in value as the percentage of the total market cap that they make up increases.  You should still not keep much on the exchanges.  With on blockchain trading there is no reason too, and it is an unnecessary risk.

You are talking about the implicit dividends from share burning. Interest is a different thing and is earned on holding BitAssets. Just trying to be clear for the new guy.
« Last Edit: August 26, 2014, 09:24:20 PM by trader »

Offline bytemaster

Re: BTSX Questions
« Reply #4 on: August 26, 2014, 09:25:02 PM »
5.  No.  Interest is earned by reducing the total supply.  Your coins will increase in value as the percentage of the total market cap that they make up increases.  You should still not keep much on the exchanges.  With on blockchain trading there is no reason too, and it is an unnecessary risk.

You are talking about the implicit dividends from share burning. Interest is a different thing and is earned on holding BitAssets. Just trying to be clear for the new guy.

Interest on BitAssets is a future concept, current BitAssets offer no interest unless you can buy them at a discount.
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Offline puppies

Re: BTSX Questions
« Reply #5 on: August 26, 2014, 09:31:03 PM »
5.  No.  Interest is earned by reducing the total supply.  Your coins will increase in value as the percentage of the total market cap that they make up increases.  You should still not keep much on the exchanges.  With on blockchain trading there is no reason too, and it is an unnecessary risk.

You are talking about the implicit dividends from share burning. Interest is a different thing and is earned on holding BitAssets. Just trying to be clear for the new guy.

Interest on BitAssets is a future concept, current BitAssets offer no interest unless you can buy them at a discount.
I'm still confused about interest bearing bitassets.  I understand that purchasing below par and then selling for par will provide you with an interest rate inversely proportionate to the percentage you purchased below par, but I don't understand the mechanism that will allow you to sell at par when you are ready to redeem.
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Offline speedy

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Re: BTSX Questions
« Reply #6 on: August 26, 2014, 09:36:54 PM »
Interest is payed by the shorts to the holders of BitUSD somehow, at least when this feature is added.
« Last Edit: August 26, 2014, 09:44:59 PM by trader »

Offline jsidhu

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Re: BTSX Questions
« Reply #7 on: August 26, 2014, 09:47:42 PM »
Interest is payed by the shorts to the holders of BitUSD somehow.

Coud it work like a SWAP in which case its cheaper to borrow USD than Bit, thus you pay a SWAP fee (on daily rollover) if you short bitusd and gain a swap fee if you buy bitusd? Then you would have a carry trade unwind you have all sorts of arbitrage opportunities come into play.
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Offline bytemaster

Re: BTSX Questions
« Reply #8 on: August 26, 2014, 10:07:19 PM »
There is no explicit interest in this system, only arbitrage opportunities.

Sometimes a "short" will sell lower to motivate someone to go "long" against them.  Other times a long will bid "higher" to get insurance against volatility. 
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Offline jsidhu

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Re: BTSX Questions
« Reply #9 on: August 26, 2014, 11:30:31 PM »
Is there incentive in place to stop front-running large orders which may be willing to bid up market for assurance of average cost and volatility protection?

Would the blocktimes work against high frequency traders that love to front-run this type of stuff and are now limited to 10 seconds minimum?
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Offline Marketorder

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Re: BTSX Questions
« Reply #10 on: August 26, 2014, 11:54:08 PM »
Is there any videos online that show the trading platform at work? I think a video tutorial is needed for newbies 

Offline toast

Re: BTSX Questions
« Reply #11 on: August 27, 2014, 12:04:44 AM »
Is there incentive in place to stop front-running large orders which may be willing to bid up market for assurance of average cost and volatility protection?

Would the blocktimes work against high frequency traders that love to front-run this type of stuff and are now limited to 10 seconds minimum?

there is a non-traditional matching algorithm - each block the blockchain front-runs everyone and collects the difference as fees
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