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

[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.

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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.

[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

 

[biophil]

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

[biophil]

It seems to me that it's fine as long as they fix the GUI so it's EASY to see what prices can execute at the moment.  Maybe some checkboxes or something to alter the display of the orders.

Just bought some BitUSD!!

Buy more! less than $4000 to go before we push through that stupid $9833 order...

Can orders like that be partially filled or is it all or nothing?

Yeah, it's being partially filled. That is another GUI bug; the GUI doesn't tell you if an order is partially filled; it just displays the original order until it's gone.

I think there's a console command where you can see the partial completion of orders.

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[GaltReport]

It seems to me that it's fine as long as they fix the GUI so it's EASY to see what prices can execute at the moment.  Maybe some checkboxes or something to alter the display of the orders.

Just bought some BitUSD!!

Buy more! less than $4000 to go before we push through that stupid $9833 order...

Can orders like that be partially filled or is it all or nothing?

[oco101]

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.

[biophil]

It seems to me that it's fine as long as they fix the GUI so it's EASY to see what prices can execute at the moment.  Maybe some checkboxes or something to alter the display of the orders.

Just bought some BitUSD!!

Buy more! less than $4000 to go before we push through that stupid $9833 order...

[GaltReport]

It seems to me that it's fine as long as they fix the GUI so it's EASY to see what prices can execute at the moment.  Maybe some checkboxes or something to alter the display of the orders.

Just bought some BitUSD!!

[liondani]

median was not a good solution.

would be better to just let the market do what he will do. in the first 2-3 days it was really fun to me. maybe not much money made, but i had fun - a lot! But now? It is only frustrating and annoying. I don't see the point how we can achieve with a tradingvolume near zero something?

i would prefer if we could throw the median away and just wait. why change the rules immediately? it was to early to do this. hope bytemaster will reconsider.

 


PS now I see Agents "solution" in practice, it remembers me  more and more a quote...

"It was a successfully surgery! But the patient died..."

[GaltReport]

I put in an ask (and got a warning that I'm 12.5% below the highest bid) for 0.030637 which is lower than the 1 hour average at the top of the screen. It's not going through either. How close to the average does it need to be?

This damn GUI makes it very difficult to explain, but I'll try. Scroll through your list of buys/shorts. Find the top bid order (ignore all the shorts above this). If you place an ask a tiny bit below that bid, it will execute.

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Thanks, I get your meaning. I guess i though the short was someone creating usd and looking for someone to take the other side. Am I not understanding it correctly?

That's right, but those particular shorts are trying to devalue bitUSD relative to USD, so they aren't allowed to execute. They are acting against the peg. Any short above about 0.027 (below about 36) is acting against the peg right now.

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I think I got it now.  Maybe the gui can filter out shorts that can't execute.  You should only be able to see what you can execute?

No we want the GUI to have the shorts so if someone wants to go to that price, they can.

But if they can't execute what is the point?  In case the price changes?  You can allow them to be entered but not displayed if they can't be executed at the current price. 

Or have a checkbox to alter the display.

[eagleeye]

Have you seen the market?
Everybody is trying to short, what we need now is for the BitUSD up to the median feed to be bought up so both buyers and sellers see $1 per BitUSD

hmmm.... but why are they shorting the bitUSD (or USD/US Dollars)?  The US Dollar is strong, the economy will not collapse, we have low deficit spending on the federal level.  Is it because they do not believe the peg will hold?

Because they think BTSX will rise relative to USD.

Ok so the market as to mature as bytemaster has said (I am be quoting wrongly and if so I am sorry.)

[eagleeye]

I put in an ask (and got a warning that I'm 12.5% below the highest bid) for 0.030637 which is lower than the 1 hour average at the top of the screen. It's not going through either. How close to the average does it need to be?

This damn GUI makes it very difficult to explain, but I'll try. Scroll through your list of buys/shorts. Find the top bid order (ignore all the shorts above this). If you place an ask a tiny bit below that bid, it will execute.

Sent from my SCH-S720C using Tapatalk 2

Thanks, I get your meaning. I guess i though the short was someone creating usd and looking for someone to take the other side. Am I not understanding it correctly?

That's right, but those particular shorts are trying to devalue bitUSD relative to USD, so they aren't allowed to execute. They are acting against the peg. Any short above about 0.027 (below about 36) is acting against the peg right now.

Sent from my SCH-S720C using Tapatalk 2

I think I got it now.  Maybe the gui can filter out shorts that can't execute.  You should only be able to see what you can execute?

No we want the GUI to have the shorts so if someone wants to go to that price, they can but they will not be filled and it will unaffect the price.  It is like a ball on water, you try to push it under (some shorts get filled) but then it bounces back up because of the physics forces (the physic forces are the other side of the equation).

[eagleeye]

Have you seen the market?
Everybody is trying to short, what we need now is for the BitUSD up to the median feed to be bought up so both buyers and sellers see $1 per BitUSD

Update: the orders don't seem to be matching up.  Shouldn't my ask satisfy the top short?

It depends on the bid/ask spread.  The difference between what someone wants to buy, and what someone is willing to sell at.

[biophil]

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.

Thank you!

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[bitmeat]

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.