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Offline kasman5

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Do the assets have their own blockchain?
« on: August 29, 2014, 04:18:14 PM »

Do assets in the exchange have their own blockchain. Take bitUSD does this have it's own blockchain, I'm assuming it does but who runs the nodes for it, the delegates?

Sorry if this has been answered before, tried searching but couldn't find anything.
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Offline theoretical

Re: Do the assets have their own blockchain?
« Reply #1 on: August 29, 2014, 06:38:00 PM »

No.  BitAssets like BitUSD are on the same blockchain as BTSX.  Have you discovered yet that there's an exchange built into the wallet?  The blockchain itself enforces the ownership changes that happen as a result of the orders on the built-in exchange.  The only way the blockchain can do that, is if BitUSD is on the same blockchain as BTSX.
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Offline kasman5

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Re: Do the assets have their own blockchain?
« Reply #2 on: August 29, 2014, 07:03:06 PM »
Oh right. So could a merchant accept bitUSD then?
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Offline robrigo

Re: Do the assets have their own blockchain?
« Reply #3 on: August 29, 2014, 07:21:43 PM »
Oh right. So could a merchant accept bitUSD then?

Yes! And they wouldn't have to worry about the volatility of accepting a cryptoequity like BTC, especially when the market becomes more liquid and the peg stabilizes more. Amazing stuff!

bitUSD is the first true cryptocurrency IMO.

Offline G1ng3rBr34dM4n

Re: Do the assets have their own blockchain?
« Reply #4 on: August 29, 2014, 08:49:12 PM »
Oh right. So could a merchant accept bitUSD then?

Yes! And they wouldn't have to worry about the volatility of accepting a cryptoequity like BTC, especially when the market becomes more liquid and the peg stabilizes more. Amazing stuff!

bitUSD is the first true cryptocurrency IMO.

 +5%

I really like the distinction between cyptocurrencies (bitUSD) & cryptoequities (bitcoin, btsx, litecoin, etc...)

Offline jenkas

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Re: Do the assets have their own blockchain?
« Reply #5 on: August 30, 2014, 09:33:06 AM »
Hi, I have trivial question.

Bitshares founders say that 1 USD will be always equal to 1 BitUSD, but what if the count of BitUSDs runs out? Then, some body must create new, and become owner of it, right?.
So, that means that there is (the) one man, who can create BitUSD from air and exchange them for real money.

If so - the difference between USD and BitUSD, is only the "money printer owner"...

Who does control the capitalization amount of BitUSD/BTC/XXX and any other assets?

Offline speedy

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Re: Do the assets have their own blockchain?
« Reply #6 on: August 30, 2014, 10:45:57 AM »
Hi, I have trivial question.

Bitshares founders say that 1 USD will be always equal to 1 BitUSD, but what if the count of BitUSDs runs out? Then, some body must create new, and become owner of it, right?.
So, that means that there is (the) one man, who can create BitUSD from air and exchange them for real money.

If so - the difference between USD and BitUSD, is only the "money printer owner"...

Who does control the capitalization amount of BitUSD/BTC/XXX and any other assets?


BitUSD can be created when there is BTSX to back its value as collateral. The more BitUSD is used for trade, the more valuable BTSX is, therefore more BitUSD can come into existance.

Offline toast

Re: Do the assets have their own blockchain?
« Reply #7 on: August 30, 2014, 04:19:03 PM »
Hi, I have trivial question.

Bitshares founders say that 1 USD will be always equal to 1 BitUSD, but what if the count of BitUSDs runs out? Then, some body must create new, and become owner of it, right?.
So, that means that there is (the) one man, who can create BitUSD from air and exchange them for real money.

If so - the difference between USD and BitUSD, is only the "money printer owner"...

Who does control the capitalization amount of BitUSD/BTC/XXX and any other assets?

No, anybody with BTSX can create BitUSD by taking a short position
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