I still don't get it.  Are bitusd still collateralized the same way they are now or is this different?  Otherwise I don't see any difference in this approach other than you are restricting the transfer of bts, which sounds like a FED mandate.  I also don't see how the peg is managed without a feed unless collateralization is somehow different?

Quote from: hadrian on February 11, 2016, 03:21:56 pm

Quote from: Riverhead on February 11, 2016, 03:07:52 pm

Quote from: monsterer on February 11, 2016, 03:02:47 pm

Quote from: noisy on February 11, 2016, 10:10:16 am

- all exchanges which has bts on their exchange confirmed that they are aware of migration

Not just that, but this:

- all exchanges must force users to withdraw all their BTS or lose it forever

That's not exactly true. If I have BTS on Poloniex post implementation I'd just sell them for bitUSD, withdraw, and buy BTS again on the DEX. It's an extra step but no real loss in value.

Yep. I suppose you'd have to request that the centralized exchange sells the BTS for bitUSD on the DEX on your behalf, then you'd have bitUSD (IOU) on the centralized exchange to do with as you wish. Of course the DEX and the centralized exchange would profit from taking a cut! This seems acceptable to me so long as enough announcements are made long enough before any changes are implemented.

A gateway simply offers to trade POLONIEX.BTS into real BTS in the DEX .. then you can continue trading BTS (IOUs) in poloniex and polo would still have its voting power .. doesn't really solve the problem of  people keeping their funds on centralized exchanges .. but it solves the issue of needing centralized exchanges for a price feed ..

This will go badly.  Those who are paying attention will sell.  Those who aren't paying attention will claim to have been screwed over by bitshares once again and bitshares reputation would be even further in the toilet. 

Also, I don't see how this will magically remove shares from the exchanges and magically create a 1:1 peg.  Don't get me wrong, I like the idea of focusing on 1 bitasset and maintaining a tight peg in that asset to get the system bootstrapped and I like the idea of getting shares removed from exchanges, especially btc38 cold storage, which is the 800 pound gorilla in the room, but I don't think it will go as smoothly as some of you think.

The only way I see this going well is to create a completely separate chain, like others have suggested.  Whether it is ever possible to merge the two together again remains to be seen.  It may be that both chains run indefinitely and the better chain wins.

I like the idea of using community funds to provide liquidity to bitusd only.  If successful, then maybe add cny and eur later.  Someone else brought this up the other day and the more I think about it, the more I think it is a good idea. 

Perhaps an SDR currency basket could be used like ethereum's maker is doing. 

We may find that the smartcoin exchange is only useful for a select few major fiat currencies, xdr, and perhaps gold and silver because of collateral requirements.  The PM and binary options markets may be better suited for investment and trade in other secondary assets.  It could actually be quite a good fit.

Crypto still does not have a good stable currency.  Its about time to use community funds to provide that. 

Futures down sharply this morning.  Both S&P 500 and oil testing lower support.

It is not just DB: as we have been warning for the past month, and especially last Friday, the blow out across the entire European bank sector is starting to resemble Lehman levels

Futures, Global Stocks Tumble As Europe Bank, Periphery Carnage Unfolds



The super bowl prediction market asset was successfully settled.  Check it out to get an idea of how these assets trade.http://cryptofresh.com/a/SPORTS.SBLAFC
Openledger

Here is how to take bitshares mainstream:



A dedicated binary options platform would be a great opportunity for an FBA (or worker proposal or combination of the two).  This should function more or less as a separate business funded by an FBA, with revenue generated from referral fees.  50% of the revenue dispersed to shareholders and 50% going back into the business for the following:
1.    Ongoing development and maintenance
2.   Marketing – google ads?
3.   Tech support
4.   Overhead
5.   Other – whatever I am missing

Obviously this would be quite expensive but IMO would be the ticket to mainstream adoption… this combined with a smartcoin lending market.

I have set SPORTS.SBLAFC to be resolved by commitee-trade.  I have created a new asset BTSPREDICT in response to https://www.reddit.com/r/BitShares/comments/43iyiq/will_bitshares_hit_12000000_in_market_cap_in/.  BTSPREDICT is to be resolved by the committee-account.  I have also modified WTICRUDE and SPFIVE to be resolved by the committee-account.  We will see which way of resolving works best.

Would it be possible to resolve by price feed?

Some help keeping the btctalk thread on the first page would be greatly appreciated.  I have bumped it about as much as I can without getting annoying.  We need to keep bts in people's minds at btctalk.

I plan to post commentary on occasion about these assets.  We will see how much interest we get.

Interesting to see your technical analysis.
Personal offer : Would you be interested in collaborating on trading blue chip stocks ?
My personal forte has been fundamental analysis and am picking up on technical's.
I keep a personal fund of 100 USd, leverage at around 15 and make about 10-20 usd a day.
Would love to partner up and share info/thoughts.

I don't usually trade stocks, especially since I think they are mostly overvalued right now.  If anything I may short, but probably not.  Good luck though as I could be wrong.

@morpheus pls correct me since I don't trade, but doesn't it seem like we're testing around 950 - 920 satoshis now? And that will set the possible resistance/support level in the short term? If it maintains as support it's good news and could set a bullish trend? I'm seeing the 4 day chart btw. I guess that would only be in the short term?

Looks like a breakout above the 50 dma (blue line).  Bts has stayed below this moving average for a few months now.  Next target is the 200 dma (red line), which bts has spent most of its trading life under.  Then we set up a possible golden cross.  IMO this breakout would be negated with a drop below 750, so plenty of room.


However, the upper trendline is acting like pretty solid resistance in fiat (cny), with a hard pullback at this line.


The relative stability from November to now has been a silence phase, as one trader on bitcointalk observes.  This has lead to longer term bull markets in bitcoin in the past on an occasion or two.