Author Topic: Bter: bitUSD/USD price  (Read 3072 times)

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Offline Gentso1

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I believe once their is value in bitUSD their will be liquidity.  I atm whats the use for bitUSD other then as a shelter for falling btsx price?

Offline aaaxn

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what about making a USD deposit with egopay on bter (2% fees) and then buying bitUSD with a 5% discount for a total net profit of 3%  ?
(I assume it cost a % to deposit on a egopay account also...  didn't check how much it is but maybe it is still worth(?))
And then convert bitUSD to btsx for a fee adn probably below feed, because there is no demand. Next step is to convert btsx to usd and then withdraw. I am pretty sure it won't be profitable.

Offline Ander

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I compared it to BTC charts, and it looks like the BitUSD decline started when BTC broke 400 for good, around Sept 27.
I think the bitUSD decline was due to bytemaster changing the shorting system repeatedly.  Once we get stable again it should go back up.
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Offline liondani

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I'm guessing the issue is getting USD to BTER, haven't looked into how complicated that is though..
just figured out that ALL USD markets on bter have pretty low volume .. to sell BTC you need to give away btc for 100$ below the market :\

what about making a USD deposit with egopay on bter (2% fees) and then buying bitUSD with a 5% discount for a total net profit of 3%  ?
(I assume it cost a % to deposit on a egopay account also...  didn't check how much it is but maybe it is still worth(?))

Offline Ander

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just figured out that ALL USD markets on bter have pretty low volume .. to sell BTC you need to give away btc for 100$ below the market :\

Correct.

Guess why NuBits volume was so high this weekend?

It is because people wanted to sell their BTC on bter for USD, but couldnt due to spreads.  But they COULD sell it for NuBits, because the NuBits market maker bot had hundreds of thousands of NuBits on both bid and ask at a very low spread.


So people sold their BTC for NuBits.  Then later when the BTC price dropped and they wanted back in, they traded NuBits back into BTC.  Hedging successful with low slippage!


(At least, this might be the reason.  Its certainly a good explanation).
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Offline checkrasier

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It is very difficult to sell bitUSD in the market engine, there is very low demand. I think the solution to this issue will be the implementation of yield.
The yield is already implemented ... I have received some bitUSD (fractions) with my last transaction ..

So as I see it .. its a opportunity .. isn't it?

It seems to me offering interest on open BitUSD orders and drastically lowering the fee (say .01 BTSX) on cancelled orders would help to increase trading activity on the block chain. 
 

Offline roadscape

I compared it to BTC charts, and it looks like the BitUSD decline started when BTC broke 400 for good, around Sept 27.
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Offline xeroc

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I'm guessing the issue is getting USD to BTER, haven't looked into how complicated that is though..
just figured out that ALL USD markets on bter have pretty low volume .. to sell BTC you need to give away btc for 100$ below the market :\

Offline vegolino

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Interest on BitUSD should be even higher once shorts start to compete on interest.

Offline svk

I'm guessing the issue is getting USD to BTER, haven't looked into how complicated that is though..
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Offline GaltReport

It is very difficult to sell bitUSD in the market engine, there is very low demand. I think the solution to this issue will be the implementation of yield.
The yield is already implemented ... I have received some bitUSD (fractions) with my last transaction ..

So as I see it .. its a opportunity .. isn't it?

it is if you want to HODL.

Offline xeroc

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It is very difficult to sell bitUSD in the market engine, there is very low demand. I think the solution to this issue will be the implementation of yield.
The yield is already implemented ... I have received some bitUSD (fractions) with my last transaction ..

So as I see it .. its a opportunity .. isn't it?

Offline GaltReport

Yes, the utility of BitUSD is limited at this point.

Offline Rune

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It is very difficult to sell bitUSD in the market engine, there is very low demand. I think the solution to this issue will be the implementation of yield.

Offline xeroc

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What's the reason I can buy 1k bitUSD for less than 1k USD over at bter?
some are well below 5% below the peg?!