Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: Is this the time to buy BitUSD?  (Read 454 times)

0 Members and 1 Guest are viewing this topic.

Offline nomoreheroes7

Is this the time to buy BitUSD?
« on: August 29, 2014, 01:51:10 PM »

So I'd like to shelter some of my BTSX against the current drop in price, so I'm thinking I would want to buy BitUSD. However, I'm seeing BitUSD currently trading for about $0.029 per BTSX (34 BTSX per BitUSD), whereas the current market price is about $0.021 (0.00004250 BTC per BTSX), which is a pretty significant spread. It almost seems more beneficial to cash out into BTC at this point, with BitUSD having such a significant discount. Thoughts?

Offline nomoreheroes7

Re: Is this the time to buy BitUSD?
« Reply #1 on: August 29, 2014, 01:54:46 PM »
Well since the time I submitted this post the value of BitUSD has gone up to 38.4 BTSX, which more approximates the current price. Interesting...

Offline bytemaster

Re: Is this the time to buy BitUSD?
« Reply #2 on: August 29, 2014, 02:16:53 PM »
Right now BitUSD is cheap vs USD and we are committed to making updates that will establish the GOAL which is a pegged crypto-asset that doesn't have to trust a 3rd party for reserves.
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 mf-tzo

  • Hero Member
  • *****
  • Posts: 1720
    • View Profile
Re: Is this the time to buy BitUSD?
« Reply #3 on: August 29, 2014, 05:42:52 PM »
Quote
Right now BitUSD is cheap vs USD and we are committed to making updates that will establish the GOAL which is a pegged crypto-asset that doesn't have to trust a 3rd party for reserves.

 +5%. That statement is good enough for me. Unfortunately I have no more fiat to invest, no more bitcoins and I just can't sell any Bitshares at current prices... The bigger problem though is that I can't use the client due to bugs  :(...when is expected the next release?

Offline yellowecho

Re: Is this the time to buy BitUSD?
« Reply #4 on: August 29, 2014, 07:10:19 PM »
I wish I could tell you man.

I majorly fucked myself last night shorting bitUSD because I got confused using the GUI!   ::)  I'm sure I'm not the only one by the looks of some of these orders.  Luckily I haven't quite hit a margin call yet but I've had several close calls. :(
696c6f766562726f776e696573

Offline oldman

  • Hero Member
  • *****
  • Posts: 554
    • View Profile
Re: Is this the time to buy BitUSD?
« Reply #5 on: August 29, 2014, 07:20:34 PM »
Quote
Right now BitUSD is cheap vs USD and we are committed to making updates that will establish the GOAL which is a pegged crypto-asset that doesn't have to trust a 3rd party for reserves.

 +5%. That statement is good enough for me. Unfortunately I have no more fiat to invest, no more bitcoins and I just can't sell any Bitshares at current prices... The bigger problem though is that I can't use the client due to bugs  :(...when is expected the next release?

If anyone is looking for a reason for the recent downtrend in price, this is it. People are not trading and capital is not moving in because the interface is buggy.

Offline yiminh

  • Full Member
  • ***
  • Posts: 66
    • View Profile
Re: Is this the time to buy BitUSD?
« Reply #6 on: August 29, 2014, 07:34:22 PM »
the wallet bug destroyed the market liquidity, to get a margin call in this iliquid market is very unfortunate:(

 

Google+