These numbers are based on the price of $336.45/BTC(Coinbase) and $0.02978/BTSX(average exchange price) at the time.
These numbers are based on a initial $100 investment/conversion
The path: Bank($) - Coinbase($ BTC) - Bter(BTC- BTSX) - BitsharesX(BTSX-bitUSD)
from bank to Coinbase = .2938 BTC
Coinbase fee = $1.14
2. .2938 BTC to Bter = .2937 BTC
BTC transaction fee .0001
3. .2937 BTC exchanged for 3327.293 BTSX
Bter fee = .0005876 BTC
4. 3327.293 BTSX from Bter to BitshareX = 3293.02007 BTSX
Bter withdraw fee = 1% + 1 BTSX = 34.27293
5. 3293.02007 BTSX exchanged for 105.60272 bitUSD
31.18BTSX/bitUSD rate + BTSX fee = .1 BTSX
$1.14 Coinbase fee
$0.033645 .0001BTC fee
$0.19769802 Bter exchange fee
$1.018180204 Bter withdraw fee
$0.002978 .1BTSX fee
Total fees $2.3925
There is $2.39 in fees going to Coinbase, BTC and Bter as a whole.
This should be massive incentive for someone to create a gateway. I wish I had the know how! 5 Steps to get to bitUSD is TOO MANY!
Right now $100 gets you 105 bitUSD and that is after all the fees paid. 100 bitUSD will net far less than $100 going the other way. The peg will hold truer if we can get an expressway into bitUSD. There are too many floating factors to really test the peg.
*Note Bter had BTSX priced at ~$.0293/BTSX and BitsharesX price feed was at .02977/BTSX and the Filled price on BitsharesX was actually .03207?BTSX