How to start the market of bitUSD please read *EVERYONE*

[biophil]

You want to short USD? Nobody is stopping you! Enter your short below the peg is now equivalent to entering a stop order. When the market rate hits your short price, you'll get your coveted short position.

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[okidoki]

The only problem is, that by halting the market bytemaster is making the shareprice go down... which is shitty for investors... I know that bytemaster is brilliant in many ways... I am simply disappointed that he thinks regulation helps to make the market move where he wants it to be...

I think your stuff is wrong.

The problem is there are consistently more shorts than longs.

So at 0.9 you weren't underpaying for a BitUSD you were paying the likely average price even 3 months from now.

Traders would not make it trade closer to the peg they would only tighten up that $0.85-0.95 trading range

Introducing the price feed that limits shorts (or a collateral system) does help the peg.

The problem is that there is very little demand @1-1  (I.e a dead market hence the need for interest.)

Sorry oasis... it does not work like this... I can make money if I buy at 0.85. Because doing the arbitrage costs money... especially in a still illiquid market. the more liquid it gets, the less it costs me, the less spread is needed, until it is exactly 1:1 in a superliquid market with small bid/ask spreads and low exchange commissions. But if you do not allow the market to start working you kill it like now.

The market worked just fine in the beginning... but by putting in these childish regulations now you do not have a market anymore, until you get rid of this government/regulation stuff... The good thing is that bytemaster, our governor, can simply get rid of this regulation stuff and make the market free again. If he does not do it, he will kill this project he worked so hard for.

[Empirical1.1]

The only problem is, that by halting the market bytemaster is making the shareprice go down... which is shitty for investors... I know that bytemaster is brilliant in many ways... I am simply disappointed that he thinks regulation helps to make the market move where he wants it to be...

I think your stuff is wrong.

The problem is there are consistently more shorts than longs.

So at 0.9 you weren't underpaying for a BitUSD you were paying the likely average price even 3 months from now.

Traders would not make it trade closer to the peg they would only tighten up that $0.85-0.95 trading range

Introducing the price feed that limits shorts (or a collateral system) does help the peg.

The problem is that there is very little demand @1-1  (I.e a dead market hence the need for interest.)

[okidoki]

The only problem is, that by halting the market bytemaster is making the shareprice go down... which is shitty for investors... I know that bytemaster is brilliant in many ways... I am simply disappointed that he thinks regulation helps to make the market move where he wants it to be...

[okidoki]

their is money to be had if people short  look in the 33-35 btsx/bitUSD range their a a few orders for a couple of g's.

I do agree though the market is dead now. Not sure if we need more incentive to make bitUSD have more value(interest?) or a better matching system. I think it's the matching system.
In the picture below the buy is willing to pay 31.55 btsx per bitUSD and the seller is only wanting 28.5715 btsx per bitUSD.......Someone tell me I am reading this wrong so I will feel better

I said that all along... Government regulation kills the markets, but Bytemaster did not even respond... now we have this regulation-sh...t implemented and we see the results... no market whatsoever and everybody frustrated stopping putting orders. Please get rid of this regulation and let the market be free again... I hope that now not even more regulations will be passed, like force converting of some of the bitsharesx holdings to bitlongs and bitshorts... This would mean forcefully crashing the value of this endeavour... Just let the market participants freely trade and make arbitrage profits. PPPLLLLLEEEEEEEEEEAAASSEEEEEEEEEE!!!

Sir okidoki , what are you referring to as government regulation?  How has Bytemaster complied with the regulation and killed the market.  Moreso it is probably a function of GUI development and coding backend, not government regulation.

Will you please next type use bold, or blue, red is hard on the eyes.

Great post though 

In this case Bytemaster is playing the regulator/government, he and his team have established that the system does not clear orders at another free market price which the market wants to give it... He is forcing that only orders are cleared at a price established by the delegates. So he basically has eliminated arbitrage profits, effectively banning the market makers. I thought than in this cryptoworld we had free market people? It is absolutely fine for a market to trade the bitUSD at other prices below or above the 1:1. If you buy any other asset bitGLD, the market should treat a bitUSD as 1 USD. If the price differs they can earn money with the bitGLD position (if bitGLD rises)+ Arbitrage profits for the bitUSD, because the price of bitUSD is determined by the price of bitshares... if someone does ignore this they stand to loose money, and someone else to earn something.

If I cannot earn money buying bitUSD cheap <1 USD, 1 will not buy it. That simple. So that is why the volume has halted... But I think sooner or later bytemaster will understand it. Perhaps it takes 2 weeks of a dead market, but ultimately he will see that the market was a lot more vivid before he put regulations in place.

[eagleeye]

their is money to be had if people short  look in the 33-35 btsx/bitUSD range their a a few orders for a couple of g's.

I do agree though the market is dead now. Not sure if we need more incentive to make bitUSD have more value(interest?) or a better matching system. I think it's the matching system.
In the picture below the buy is willing to pay 31.55 btsx per bitUSD and the seller is only wanting 28.5715 btsx per bitUSD.......Someone tell me I am reading this wrong so I will feel better

I said that all along... Government regulation kills the markets, but Bytemaster did not even respond... now we have this regulation-sh...t implemented and we see the results... no market whatsoever and everybody frustrated stopping putting orders. Please get rid of this regulation and let the market be free again... I hope that now not even more regulations will be passed, like force converting of some of the bitsharesx holdings to bitlongs and bitshorts... This would mean forcefully crashing the value of this endeavour... Just let the market participants freely trade and make arbitrage profits. PPPLLLLLEEEEEEEEEEAAASSEEEEEEEEEE!!!

Sir okidoki , what are you referring to as government regulation?  How has Bytemaster complied with the regulation and killed the market.  Moreso it is probably a function of GUI development and coding backend, not government regulation.

Will you please next type use bold, or blue, red is hard on the eyes.

Great post though 

[okidoki]

Here is something BTSX HODLers need to understand. If the peg doesn't work your BTSX is worthless. So everyone has vested interest in providing liquidity to make the peg as close as possible. Simple as that.

Please do not be so obsessed with an instant 1:1 peg. Market makers have to enter... and they will only enter if there is money to be made... for this the bitUSD:USD exchange rate has to be different at the beginning... you have to give this time...

[okidoki]

their is money to be had if people short  look in the 33-35 btsx/bitUSD range their a a few orders for a couple of g's.

I do agree though the market is dead now. Not sure if we need more incentive to make bitUSD have more value(interest?) or a better matching system. I think it's the matching system.
In the picture below the buy is willing to pay 31.55 btsx per bitUSD and the seller is only wanting 28.5715 btsx per bitUSD.......Someone tell me I am reading this wrong so I will feel better

I said that all along... Government regulation kills the markets, but Bytemaster did not even respond... now we have this regulation-sh...t implemented and we see the results... no market whatsoever and everybody frustrated stopping putting orders. Please get rid of this regulation and let the market be free again... I hope that now not even more regulations will be passed, like force converting of some of the bitsharesx holdings to bitlongs and bitshorts... This would mean forcefully crashing the value of this endeavour... Just let the market participants freely trade and make arbitrage profits. PPPLLLLLEEEEEEEEEEAAASSEEEEEEEEEE!!!

[Empirical1.1]

Before the median price was introduced, the pegging was doing fine but there was a danger that  bitUSD will lose track of the USD and then the whole Bitsharex it will not work.
Now the  bitUSD is not in danger of not tracking USD but the market is dead.
I rather preferred the peg to track and in no  danger!!!  Let see with the GUI changes then I suspect you'll not see that many short out of range, and much more trading happening.

Agree! It seems like peoples' best argument for getting rid of the price feeds is that it was more fun the other way. More fun? Really? If you want fun playing with money you should hit the local casino. Fun doesn't equate to robust financial system.

Sent from my SCH-S720C using Tapatalk 2

This isn't going to create a robust financial system.

I prefer the price feed but you still need to stimulate BitAsset creation around the peg with delayed fees/interest.

A bitUSD currently simply isn't worth 1-1 (system risk + utility friction)it's like trying to sell a $10 umbrella for $20. You now have a queue of people waiting to see if anyone will be dumb enough to overpay for an umbrella. There won't be many customers, except maybe on a very rainy day.

It's like Argentina trying to define the exchange rate for the Peso to the dollar. When you try to force it that way you strangle the market and the free market simply moves to the black market where Peso & dollar holders  find the true exchange level. (In our case it will ultimately be a competitor using interest/delayed fees to match buyers with sellers around the peg.)

Interest or delayed fees are required.

Another way to look at is to think of BTSX as a virtual vault.

If the vault is very safe you may pay for the privilege of storing your assets there.
However if the vault is new and risky, with high fees they're going to have to pay you interest to attract your money, we're still at the risky stage now plus there's a 1/2% fee to exchange BitAssets to fiat.

The absolutely fantastic news is we have shorts more than willing to pay amazing interest to attract deposits into BitAssets!!!

The question is what is the best way to introduce interest into the system.

(Another analogy... The people storing BitAssets are the customers. BTSX holders are the virtual vault owners. BTSX holders get the reward of the virtual vaults success. All the BitAsset holders get is the riskiest place in the world to store value for the next 3-6 months. They need to be compensated for the risk.)

[eagleeye]

Before the median price was introduced, the pegging was doing fine but there was a danger that  bitUSD will lose track of the USD and then the whole Bitsharex it will not work.
Now the  bitUSD is not in danger of not tracking USD but the market is dead.
I rather preferred the peg to track and in no  danger!!!  Let see with the GUI changes then I suspect you'll not see that many short out of range, and much more trading happening.

Agree! It seems like peoples' best argument for getting rid of the price feeds is that it was more fun the other way. More fun? Really? If you want fun playing with money you should hit the local casino. Fun doesn't equate to robust financial system.

Sent from my SCH-S720C using Tapatalk 2

This isn't going to create a robust financial system.

I prefer the price feed but you still need to stimulate BitAsset creation around the peg with delayed fees/interest.

A bitUSD currently simply isn't worth 1-1 (system risk + utility friction)it's like trying to sell a $10 umbrella for $20. You now have a queue of people waiting to see if anyone will be dumb enough to overpay for an umbrella. There won't be many customers, except maybe on a very rainy day.

It's like Argentina trying to define the exchange rate for the Peso to the dollar. When you try to force it that way you strangle the market and the free market simply moves to the black market where Peso & dollar holders  find the true exchange level. (In our case it will ultimately be a competitor using interest/delayed fees to match buyers with sellers around the peg.)

Interest or delayed fees are required.

Interest for bitUSD only if its possible (which have we covered?  I am not sure, sorry)

Delayed fees may not work with the delegates and I think it may be counterproductive.

[eagleeye]

Before the median price was introduced, the pegging was doing fine but there was a danger that  bitUSD will lose track of the USD and then the whole Bitsharex it will not work.
Now the  bitUSD is not in danger of not tracking USD but the market is dead.
I rather preferred the peg to track and in no  danger!!!  Let see with the GUI changes then I suspect you'll not see that many short out of range, and much more trading happening.

Explain because    Its possible this is a Winner Winner Chicken Dinner.

Sometimes layouts or designs or ideas behind the pegging have to be rolled back.  I do not know I do not know exactly what you are getting out but I think it matters a lot.

[Riverhead]

speaking of feeds, if you are a delegate, how do you keep your delegate wallet funded to publish price feeds if scanning of transactions is disabled? (sorry off topic)

You get the fees from the block you are producing so it's not really a chargeable transaction yet. The transaction for updating a feed comes directly out of your pay balance though.

[Empirical1.1]

Before the median price was introduced, the pegging was doing fine but there was a danger that  bitUSD will lose track of the USD and then the whole Bitsharex it will not work.
Now the  bitUSD is not in danger of not tracking USD but the market is dead.
I rather preferred the peg to track and in no  danger!!!  Let see with the GUI changes then I suspect you'll not see that many short out of range, and much more trading happening.

Agree! It seems like peoples' best argument for getting rid of the price feeds is that it was more fun the other way. More fun? Really? If you want fun playing with money you should hit the local casino. Fun doesn't equate to robust financial system.

Sent from my SCH-S720C using Tapatalk 2

This isn't going to create a robust financial system.

I prefer the price feed but you still need to stimulate BitAsset creation around the peg with delayed fees/interest.

A bitUSD currently simply isn't worth 1-1 (system risk + utility friction)it's like trying to sell a $10 umbrella for $20. You now have a queue of people waiting to see if anyone will be dumb enough to overpay for an umbrella. There won't be many customers, except maybe on a very rainy day.

It's like Argentina trying to define the exchange rate for the Peso to the dollar. When you try to force it that way you strangle the market and the free market simply moves to the black market where Peso & dollar holders  find the true exchange level. (In our case it will ultimately be a competitor using interest/delayed fees to match buyers with sellers around the peg.)

Interest or delayed fees are required.

[eagleeye]

Before the median price was introduced, the pegging was doing fine but there was a danger that  bitUSD will lose track of the USD and then the whole Bitsharex it will not work.
Now the  bitUSD is not in danger of not tracking USD but the market is dead.
I rather preferred the peg to track and in no  danger!!!  Let see with the GUI changes then I suspect you'll not see that many short out of range, and much more trading happening.

Agree! It seems like peoples' best argument for getting rid of the price feeds is that it was more fun the other way. More fun? Really? If you want fun playing with money you should hit the local casino. Fun doesn't equate to robust financial system.

Sent from my SCH-S720C using Tapatalk 2

The Financial markets are the biggest casino in the world.  Also having the feeds means if people are playing it (like in China where they only need to make $5 - $10 dollars a day) then delegates will make more money from transactions.

speaking of feeds, if you are a delegate, how do you keep your delegate wallet funded to publish price feeds if scanning of transactions is disabled? (sorry off topic)

Message bytemaster or lets let someone else chime in.

[GaltReport]

Before the median price was introduced, the pegging was doing fine but there was a danger that  bitUSD will lose track of the USD and then the whole Bitsharex it will not work.
Now the  bitUSD is not in danger of not tracking USD but the market is dead.
I rather preferred the peg to track and in no  danger!!!  Let see with the GUI changes then I suspect you'll not see that many short out of range, and much more trading happening.

Agree! It seems like peoples' best argument for getting rid of the price feeds is that it was more fun the other way. More fun? Really? If you want fun playing with money you should hit the local casino. Fun doesn't equate to robust financial system.

Sent from my SCH-S720C using Tapatalk 2

The Financial markets are the biggest casino in the world.  Also having the feeds means if people are playing it (like in China where they only need to make $5 - $10 dollars a day) then delegates will make more money from transactions.

speaking of feeds, if you are a delegate, how do you keep your delegate wallet funded to publish price feeds if scanning of transactions is disabled? (sorry off topic)