Over time you can easily do highly leveraged trading of bitasset against bitasset. It will have exactly the same risk normal leveraged forex trading, minus the counterparty risk and plus the systemic risk of BTS crashing. 20 years into the future and with enough traction bitshares could eat the entire forex market.

BitUSD交易量现在是bter第四个！！ https://bter.com/

Quote from: Rune on January 16, 2015, 04:09:02 pm

nubits 是部分准备金的！

能把这个帖子翻译流传在中文社区吗？

https://bitcointalk.org/index.php?topic=926934.0

然后把BitUSD放在bter，会赚钱从nubits的交易者。

already news in China three days ago when they broke the peg .

We should keep spreading this everywhere. Now that there is volume and it's easy to get into BitUSD, the people who get spooked by the fact that they are a fractional reserve might flee into BitUSD.

求机器人

Toast写了他这个周末会把机器人的github放开。说现在还不好意思给别人看他乱写的code，哈哈。

It's a little early to call their downfall IMO. I'm sure they still have enough to buy back all outstanding nubits.

I didn't want to open source the bot because 1) I didn't want competition (but it's there now) and 2) I'm embarrassed by my code quality (but that's a bad reason)

Perhaps I will open it up today or over this weekend

NuBits will continue for sure. But soon they'll be subjected to the same kind of standard that rational people subject other exchanges/counterparties too, such as cryptographic proof of reserves. They'll have to eventually come up with a system to basically copy BitUSD and its backing entirely if they want to maintain credibility. If we just have acceptable liquidity and spreads in the meantime, some of the non-retarded traders might switch to BitUSD.

Quote from: Rune on January 16, 2015, 03:23:23 pm

Quote from: lafona on January 16, 2015, 02:56:15 pm

Quote from: Rune on January 16, 2015, 01:09:00 pm

Wondering what you can do to help bitshares up to the 1.0 launch?

Toast has written a market maker bot for BTC/BitUSD on bter.com that Riverhead is now running (possibly others)

https://bter.com/trade/btc_bitusd

Volume is only 10 BTC so far, but notice the spread is around 5%. If you check out NuBits you can see that their spread is more or less the same: https://bter.com/trade/nbt_btc

This is most likely because the "trusted" custodians have lost shitloads of money by getting BTC dumped on them in the last crash, so they have widened their spread in an attempt to make money so they'll  stop being a fractional reserve. This is our moment to steal their market and surpass them as _the_ 1 USD token. All we have to do is to keep our spread lower, and then pump the volume! BTC isn't crashing any more so market making at a small spread will be profitable!

If you want to help BitUSD get adoption then get on bter now and start trading!!! Lets push the volume to at least 100 BTC as soon as possible!

Do you have a link to the market maker bot post?

No, I don't think there is any post about it. I gave 5k bitUSD to riverhead to fund his bot with. If you want to help with liquidity but don't want to run the bot yourself you can do the same, he's a trusted community member and won't mess up.

If you want to run the bot yourself then get in touch with toast.

Sounds interesting ..

Do you know the reason @toast is not opensourcing the bot?

I'm pretty sure he plans to do it as soon as it is ready.

Buy BitUSD and get it on bter.com guys!!! Buy low sell high and make some money as we make nubits unravel over the next couple of days.

Quote from: Rune on January 16, 2015, 01:09:00 pm

Wondering what you can do to help bitshares up to the 1.0 launch?

Toast has written a market maker bot for BTC/BitUSD on bter.com that Riverhead is now running (possibly others)

https://bter.com/trade/btc_bitusd

Volume is only 10 BTC so far, but notice the spread is around 5%. If you check out NuBits you can see that their spread is more or less the same: https://bter.com/trade/nbt_btc

This is most likely because the "trusted" custodians have lost shitloads of money by getting BTC dumped on them in the last crash, so they have widened their spread in an attempt to make money so they'll  stop being a fractional reserve. This is our moment to steal their market and surpass them as _the_ 1 USD token. All we have to do is to keep our spread lower, and then pump the volume! BTC isn't crashing any more so market making at a small spread will be profitable!

If you want to help BitUSD get adoption then get on bter now and start trading!!! Lets push the volume to at least 100 BTC as soon as possible!

Do you have a link to the market maker bot post?

No, I don't think there is any post about it. I gave 5k bitUSD to riverhead to fund his bot with. If you want to help with liquidity but don't want to run the bot yourself you can do the same, he's a trusted community member and won't mess up.

If you want to run the bot yourself then get in touch with toast.

I'll be interest to know if you manage to break even with this strategy - market making is very hard to get right.

With 5% spread it should be easy enough. In the future we could actually run nubot style "BitBots" that can enforce a much tighter peg and be guaranteed to be profitable, using the method the nubitters described here after they realized that they've become insolvent and their peg is doomed: https://discuss.nubits.com/t/possible-solution-to-custodian-loss-of-value-due-to-btc-exposure/1099/3

https://bitcointalk.org/index.php?topic=926934.0