Author Topic: Where have all the bids gone?  (Read 9729 times)

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Offline jae208

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You guys are sounding kind of scammy.
Personally, after reading your last several posts I wouldn't listen to what you have to say in the future.
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Offline cygnify

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There isn't a lot of bitUSD buyers also I believe as buyers don't want USD at the present time, where bitcoin is historically quite low and may increase soon as well as BTSX just had a solid correction and is probably due for a rise in price next (although that isn't certain).

Basically a buyer of USD probably doesn't want to hold onto a heap of bitUSD with low liquidity (it just opened) so limited exit points in what could be a rising market for the alternatives. This will change over time as the market matures, especially with regards to actual uses for bitUSD.
« Last Edit: August 27, 2014, 12:38:17 pm by cygnify »

Offline bitmeat

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Can someone explain, how come all the purchasers of BitUSD disappeared?

Here is a theory of mine...

BitUSD has total supply of 100B. Which means BitUSD could never really be more than 50 BTSX, since supply of BTSX is 2B.

That means that any BitUSD short above 33.3333... are relatively safe. BTSX should never really hit a margin call by design (unless some spike in the system occurs).

Now go down a notch - for shorts at 22.222222... BTSX their margin call is at 33.3333.... But since 33.3333.... is like a sure short, then so is 22.222....

Wow! No wonder there are no BitUSD buyers, and BitUSD price is lower than it should be. So once BTSX rises to like $1B, BitUSD would be really stable. There is wishful thinking.
« Last Edit: August 27, 2014, 12:19:21 pm by bitmeat »