Author Topic: The Market Peg Works!  (Read 17304 times)

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Offline bytemaster

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Offline mf-tzo

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of course it does. :)

Offline oldman

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My main takeaway from all of this has been that this experiment is like learning to ride a bike. At first you don’t have the confidence to give yourself  momentum. Instead, you learn with training wheels. Once you have confidence to give yourself momentum, the training wheels can be removed and you’ll never forget how to ride a bike.

 +5%

Offline Riverhead

My main takeaway from all of this has been that this experiment is like learning to ride a bike. At first you don’t have the confidence to give yourself  momentum. Instead, you learn with training wheels. Once you have confidence to give yourself momentum, the training wheels can be removed and you’ll never forget how to ride a bike.


Agreed. If nothing else I have learned a TON of economics during this project.


Offline bytemaster

My main takeaway from all of this has been that this experiment is like learning to ride a bike. At first you don’t have the confidence to give yourself  momentum. Instead, you learn with training wheels. Once you have confidence to give yourself momentum, the training wheels can be removed and you’ll never forget how to ride a bike.

+1
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 Method-X

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My main takeaway from all of this has been that this experiment is like learning to ride a bike. At first you don’t have the confidence to give yourself  momentum. Instead, you learn with training wheels. Once you have confidence to give yourself momentum, the training wheels can be removed and you’ll never forget how to ride a bike.

Offline liondani

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Goodbye USA banks officially!



Offline bytemaster

One the price feed - emphasize what they really are.

'Price feeds are the fastest, most accurate way to introduce into the system the information regarding the actual BTSX:USD price.'



Other than that, I would have written the OP as  BTSX being the currency and bitUSD the product/asset, but that is just me.

 +5%

[edit]  is there a command to see the black-swan reserve already or not yet?

Code: [Select]
>> blockchain_get_asset USD
{
  "id": 22,
  "symbol": "USD",
  "name": "United States Dollar",
  "description": "1 United States dollar",
  "public_data": "",
  "issuer_account_id": -2,
  "precision": 10000,
  "registration_date": "20140719T000000",
  "last_update": "20140719T000000",
  "current_share_supply": 4852503572,
  "maximum_share_supply": 1000000000000000,
  "collected_fees": 17934081
}

$1793.4081 is the reserve fund at the moment. 
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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 tonyk

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One the price feed - emphasize what they really are.

'Price feeds are the fastest, most accurate way to introduce into the system the information regarding the actual BTSX:USD price.'



Other than that, I would have written the OP as  BTSX being the currency and bitUSD the product/asset, but that is just me.

 +5%

[edit]  is there a command to see the black-swan reserve already or not yet?
« Last Edit: September 04, 2014, 06:47:40 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline ripplexiaoshan

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Indeed, it's working, bitUSD is pegging USD much better than a few days ago.

However, it's at the cost of less transactions in the on-chain market. As we are aiming to build the decentralized market, is the current status sustainable?  Because currently it seems that internal market is pegging external market. 
 
BTS committee member:jademont

Offline bytemaster

Is there a chart of bitUSD/USD available anywhere so we can see the correlation over time?  Also, what's the current correlation?  Has it reached parity?

$0.0323   Bid   $0.0328 Ask

Coin market cap: $ 0.031793   

Discount: 3.1415%
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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 yellowecho

Is there a chart of bitUSD/USD available anywhere so we can see the correlation over time?  Also, what's the current correlation?  Has it reached parity?
696c6f766562726f776e696573

Offline xeroc

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Give reddit some love:
http://www.reddit.com/r/BitShares/comments/2fgz3p/the_market_peg_works/

Maybe we can also bring this in r/CryptoCurrency or r/Bitcoin (probably not)

Offline oco101

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Mabye we should emphazise that the feed really only affects shorts and margin calls

participants trading bitUSD back and forth can chose whatever price they want!!

Very good idea.

We should emphasize the market peg works this was the only unknown a few weeks ago. I could see that the peg was working but for some reason  that is not the impression that  we get right now from the forum. The whole system depended on it. It is absolutely amazing that it is working so smoothly. Please let the world know  the peg is working, now the sky is the limit  ;D

And yes I agree we should also  emphasize that the feed really only affects shorts and margin calls :)
« Last Edit: September 04, 2014, 07:45:40 pm by oco101 »