BitShares Forum

Main => General Discussion => Topic started by: BldSwtTrs on September 03, 2014, 08:48:45 pm

Title: Little question about the creation of BitAssets
Post by: BldSwtTrs on September 03, 2014, 08:48:45 pm

In initial version without feeds, when the first BitUSD was created, how does the amount collaterized in BTSX was calculated?

I mean the blockchain shouldn't have the information of the value of 1 USD relative to BTSX so how does the blockchain know the amount needed to be collateralized?

Title: Re: Little question about the creation of BitAssets
Post by: bytemaster on September 03, 2014, 08:51:29 pm

Quote from: BldSwtTrs on September 03, 2014, 08:48:45 pm

In initial version without feeds, when the first BitUSD was created, how does the amount collaterized in BTSX was calculated?

I mean the blockchain shouldn't have the information of the value of 1 USD relative to BTSX so how does the blockchain know the amount needed to be collateralized?

Feeds were used to start the asset then it switched to moving average.   Feeds never set the collateral requirements, they just limit the price at which shorts can execute.