Poll

Who wants BitOil?

Yes
21 (58.3%)
No
8 (22.2%)
Maybe
7 (19.4%)

Total Members Voted: 34

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: POLL: Let's trade BitOil!!!  (Read 490 times)

0 Members and 1 Guest are viewing this topic.

Offline bluebit

  • Sr. Member
  • ****
  • Posts: 271
    • View Profile
POLL: Let's trade BitOil!!!
« on: September 10, 2014, 06:24:04 PM »

I'd love to see BitOil traded for BTSX, can we make this possible?
« Last Edit: September 10, 2014, 06:27:06 PM by bluebit »
BTSX TipMe: bluebit

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12257
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BTS: xeroc
  • GitHub: xeroc
Re: Let's trade BitOil!!!
« Reply #1 on: September 10, 2014, 06:27:31 PM »
creation fee for new assets are:
Code: [Select]
  "asset_reg_fee": "210,068.81280 BTSX",

so if someone pays for it .. it can be traded ... (you need to convince 51 delegates to publish a feed thought)
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline Method-X

  • Hero Member
  • *****
  • Posts: 1131
  • VIRAL
    • View Profile
    • Learn to code
  • BTS: methodx
Re: Let's trade BitOil!!!
« Reply #2 on: September 10, 2014, 06:58:44 PM »
creation fee for new assets are:
Code: [Select]
  "asset_reg_fee": "210,068.81280 BTSX",

so if someone pays for it .. it can be traded ... (you need to convince 51 delegates to publish a feed thought)

Hey xeroc, quick question: is that 200,000 BTSX considered a transaction fee? i.e. can it be paid out as interest?

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12257
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BTS: xeroc
  • GitHub: xeroc
Re: Let's trade BitOil!!!
« Reply #3 on: September 10, 2014, 07:03:32 PM »
creation fee for new assets are:
Code: [Select]
  "asset_reg_fee": "210,068.81280 BTSX",

so if someone pays for it .. it can be traded ... (you need to convince 51 delegates to publish a feed thought)

Hey xeroc, quick question: is that 200,000 BTSX considered a transaction fee? i.e. can it be paid out as interest?
it is the fee that needs to be payed in order to create the market .. it counts as TX fee for btsx and this goes to the delegates (and via burn goes back to the shareholders of btsx) ...
check this out: https://bitsharestalk.org/index.php?topic=8630.0;all (although asset creation is not explicitly stated)
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline bytemaster

Re: POLL: Let's trade BitOil!!!
« Reply #4 on: September 10, 2014, 07:06:10 PM »
We already have BitWTI   (Light Sweet Crude Oil)

Just need people to publish feeds.
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 emski

  • Hero Member
  • *****
  • Posts: 1283
    • View Profile
    • http://lnkd.in/nPbhxG
Re: POLL: Let's trade BitOil!!!
« Reply #5 on: September 10, 2014, 07:17:10 PM »
I think feeds will be published if there is significant market depth.
So far it doesn't seem like there is a lot of interest in this.
Why don't you begin with placing some orders first ?

Offline Riverhead

Re: POLL: Let's trade BitOil!!!
« Reply #6 on: September 10, 2014, 07:24:10 PM »
I'll publish a feed for it if it gets enough feedback either in depth or the forum. Probably the forum first as the depth is a chicken/egg problem.

Offline Empirical1.1

  • Hero Member
  • *****
  • Posts: 886
    • View Profile
Re: POLL: Let's trade BitOil!!!
« Reply #7 on: September 10, 2014, 09:42:05 PM »
I'd prefer to see BitSLV and BitGLD up first myself.

busygin

  • Guest
Re: POLL: Let's trade BitOil!!!
« Reply #8 on: September 11, 2014, 12:28:52 AM »
Two problems here. First, real-time futures price feeds are not free. At least, not free for re-publishing. Second, and more serious, commodity futures go by expiration month. For instance, CLX4 is WTI oil with November 2014 delivery, CLZ4 is WTI oil with December 2014 delivery, etc. They have different prices. Which one should we peg to? A natural choice would be the front month contract (i.e., with nearest expiration date). But then we have a price jump at every roll (when the front month expires).
Alternatively, we can agree to peg to some commodity ETF (USO for oil, for example) but they do not really trace oil futures price as they have slippage due to roll expenses and management fees.

Offline fuzzy

Re: POLL: Let's trade BitOil!!!
« Reply #9 on: September 11, 2014, 04:11:00 AM »
I'll publish a feed for it if it gets enough feedback either in depth or the forum. Probably the forum first as the depth is a chicken/egg problem.

Wouldn't opening up new bitAssets and allowing them to trade for one another (for instance trade 1 bitSilver for .017 bitGold) enable more arbitrage opportunities and with it more liquidity and, eventually, depth?
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

 

Google+