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General Discussion / Re: BitAsset 2.0 Requirements & Implied Design
« on: May 28, 2015, 08:24:47 pm »
I don'tknow if this was brought up but if possible have the ability to denominate bitassets in bitUSD
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What about Shenzhen? Its going nuts...
Bottom line, when you look at the BitUSD price, the quantity available over $1.00 is VERY SMALL and thus meaningless. That means that right now BitUSD is "perfectly pegged" and the premium for creating new BitUSD is VERY HIGH. This is a good and healthy position and indicates what it will look like with force settlement enabled. Everything else just depends upon trading volume and market making.
Right now there is over 70,000 bitusd in bids at the feed price, which represents almost half of all bitusd in existence. If this were force settled right now at the feed price and all else remaining constant, then nearly half of all short sellers would be forced into a transaction that they did not agree to, or at least a transaction that they did not initiate. IMO, this would further shake the confidence of short sellers and the market in general.