It seems I still need to learn alot about the economical part here :-) thanks for pointing it out ..
the "market cap" of the bitUSD is part of the market cap of BTSX .. so either you cheat on all the people that thing those are independent markets .. or you have to clearly state that the bitUSD is part of btsx
once the bitUSD gets traded (shorted) on other DACs (MUSIC) too .. things get VERY messy
Current market cap of BitUSD is $497,780 and it is distinct from BTSX. BitUSD is backed by BTSX, but not 'part of'.
but .. in theory .. could it be possible for bitUSD to have a higher cap than btsx?
No, bitAssets can't ever have a higher cap than BTSX. Also, I could see an argument that bitAssets are contained within the market cap of BTSX, because for every bitUSD, there are at least 1.5 dollars' worth of BTSX tied up in collateral, effectively removed from the share supply.
So, if we want to be (needlessly, imo) precise on CMC, we really should be reporting the total BTSX supply as the actual total supply minus whatever is tied up as collateral.
Seems like some of the arguments here for NOT listing bitUSD on CMC hinge on the fact that there would be some kind of logical inconsistency about it: the net bitUSD value is zero, etc etc. But I'd fully support getting it listed as-is, with no caveats, for two reasons: 1) cheap marketing exposure, and 2) it will neatly showcase the market peg in action: people will be able to see 1 bitUSD = 1 USD.
Market cap isn't really a very useful measure anyway, except that it gives you bragging rights and free advertising on CMC. Let's not get hung up on the pedantic little details...
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