The current path of USD to bitUSD

[bytemaster]

This year

[xeroc]

Soon to be 1 step.

Hehe :D .. but could you define "soon"? ::)

[feedthemcake]

I see "suppose" isn't present in this statement bytemaster...and I like it...

[Ander]

Soon to be 1 step.

8)

[bytemaster]

Soon to be 1 step. 

[Ggozzo]

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)


1. $100 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

Total Fees:

$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