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I am personally interested in bitEur but I trade Bitusd and the reason ismostly because I use external platforms BTCUSD converted in Euros whendeposited in my account.
For some reason I don't like Kraken. No specific reason I just haven't triedit... So when I want to get out of BTC I trade in USD and the bank convertsthem in euro with a bad rate and a lot of fees...
Hopefully in the future we will have easy gateways directly to our bankaccounts and the transition from biteur to euro will be with a click of abutton. Additionally we shouldn't have any fear from hackers, keyloggersetc..When this day comes BTSX will be worth +200 billions..
P.S: That was my 500th post!!!hehehehe...
Quote from: Gentso1 on September 13, 2014, 05:39:54 pmHere is the current numbers on btc and is pairings# Source Pair Volume (24h) Price Volume (%) Updated1 BitcoinAverage BTC/USD $ 9,511,380 $ 481.41 59.92 % Recently2 BitcoinAverage BTC/CNY $ 5,399,340 $ 477.96 34.02 % Recently3 BitcoinAverage BTC/EUR $ 597,300 $ 485.14 3.76 % Recently4 BitcoinAverage BTC/GBP $ 164,622 $ 489.51 1.04 % Recently5 BitcoinAverage BTC/RUB $ 104,037 $ 498.83 0.66 % Recently6 BitcoinAverage BTC/CAD $ 96,500 $ 481.65 0.61 % Recentlyas you can see USD is the leader followed by CNY then EURThis above chart looks like a "healthy" global interest. It is not bad that we have great Chinese interest but I am pointing out why the lack of interest from the rest of the world. Perhaps its because we are young? Different marketing strategy between what is done on the Chinese side vs the rest of the world? I am trying to identify a possible short coming then perhaps we can focus on correcting it.BitcoinAverage excludes two very large BTC exchanges because they have a 0% trading fee.Here's a recent article: CoinDesk: Yuan Trades Now Make Up Over 70% of Bitcoin Volume
Here is the current numbers on btc and is pairings# Source Pair Volume (24h) Price Volume (%) Updated1 BitcoinAverage BTC/USD $ 9,511,380 $ 481.41 59.92 % Recently2 BitcoinAverage BTC/CNY $ 5,399,340 $ 477.96 34.02 % Recently3 BitcoinAverage BTC/EUR $ 597,300 $ 485.14 3.76 % Recently4 BitcoinAverage BTC/GBP $ 164,622 $ 489.51 1.04 % Recently5 BitcoinAverage BTC/RUB $ 104,037 $ 498.83 0.66 % Recently6 BitcoinAverage BTC/CAD $ 96,500 $ 481.65 0.61 % Recentlyas you can see USD is the leader followed by CNY then EURThis above chart looks like a "healthy" global interest. It is not bad that we have great Chinese interest but I am pointing out why the lack of interest from the rest of the world. Perhaps its because we are young? Different marketing strategy between what is done on the Chinese side vs the rest of the world? I am trying to identify a possible short coming then perhaps we can focus on correcting it.
Maybe most of the world just trades in USD because it's been a "standard" for so long.
Quote from: Gentso1 on September 13, 2014, 05:10:30 pmI get everything you are saying but WHY such high high Chinese interest and a complete lack of interest from the rest of the world btsx/cny trading make up between 70-80% of total total 24hr volume. When you look at the second highest 24 hour volume(btsx/btc it changes exchanges to bter(a high fee exchange). Btc transaction's are how most of the rest of the world gets into btsx. What I am trying to say is the market seems almost totally supported by one Chinese exchange exchange(btc38) and one pairing btsx/cny.Am I concerned about nothing, does this bother anyone else? Which parts of the world are lacking BTSX interest?China has 4x the population of the U.S., and worldwide, Mandarin has 2.5x more speakers than English.They have a fairly lively community here: https://bitsharestalk.org/index.php?board=4.0And if you look at Bitcoin markets, you'll see that approx 70% of the BTC trading volume is in CNY.https://bitcoinwisdom.com/Doesn't seem crazy to me.
I get everything you are saying but WHY such high high Chinese interest and a complete lack of interest from the rest of the world btsx/cny trading make up between 70-80% of total total 24hr volume. When you look at the second highest 24 hour volume(btsx/btc it changes exchanges to bter(a high fee exchange). Btc transaction's are how most of the rest of the world gets into btsx. What I am trying to say is the market seems almost totally supported by one Chinese exchange exchange(btc38) and one pairing btsx/cny.Am I concerned about nothing, does this bother anyone else?
do you have any idea the volume per capita? Because I don't but I do agree it would be a more accurate representation.We need to look at volume per capita not gross.
Quote from: Gentso1 on September 13, 2014, 12:23:00 ambitUSD is trading even higher then it was before because of the the adding of interest. Any predictions how long it will take for it to HOLD a price over 1$? I have seen it happening a few times on bter but then it creeps back down.bitCNY seems to be where all the action is, although I still don't understand why we are getting so much Chinese interest but very very little from the rest of the world, any thoughts on this? I have to be honest it makes me slightly nervous to see one exchange trade 65-75% of the total volume.I think it's because btc38's a really good looking chinese exchange.. first up they can comment on cryptos http://www.btc38.com/altcoin/btsx/?c=1Then there's this site dedicated to bitshares: http://www.bts.hk/ we've not really got an equivelant yet.. https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.bts.hk%2F&edit-text=
bitUSD is trading even higher then it was before because of the the adding of interest. Any predictions how long it will take for it to HOLD a price over 1$? I have seen it happening a few times on bter but then it creeps back down.bitCNY seems to be where all the action is, although I still don't understand why we are getting so much Chinese interest but very very little from the rest of the world, any thoughts on this? I have to be honest it makes me slightly nervous to see one exchange trade 65-75% of the total volume.
That's a fair and informed prediction. I'll hold you to it! Honestly, though, we need to wait for a fully functional client. Some of us non-techies have barely been able to open the thing over the last few iterations. Once that is set and the marketing really gets into gear, I agree with your second part.
Quote from: donkeypong on September 05, 2014, 12:29:13 amQuote from: Empirical1.1 on September 04, 2014, 11:42:46 pmQuote from: Empirical1 on August 25, 2014, 12:18:17 amI think a lot of people are hoping BitUSD may track USD fairly close to 1-1 most of the time.However because people are so bullish on BTSX and shorting BTSX lets you take a leveraged position on BTSX. BTSX bulls may be willing to short still at $0.70, this trading range will be so far from the peg that it could damage the credibility of the peg. This could make people sell BTSX. This will mean less BTSX bulls willing to short below the peg and the situation will correct itself. I don't mind a BitUSD like that but it might not appeal as much to retailers and savers.It seems to make it stable you should introduce free market interest rates.Then you still short 1-1 but when most people are bulls like now you will pay a higher interest rate to short BitUSD as opposed to shorting very far below the peg.I made this prediction before BitAssets started trading. While not as low as $0.7, the first part essentially came true. (Too many people willing to short below the peg.) Enough to warrant introducing price feeds. The second part has been implemented (only shorting @ 1-1) but without interest rates...The third part, interest/incentive rates are needed I think BM has a great solution here - https://bitsharestalk.org/index.php?topic=8235.msg108444#msg108444My new predictionDespite claims that the peg is working BitAsset creation will be minimal. (The share price will languish below $80 million CAP) Over the next few weeks the voices will get louder asking for interest. Within a week of interest/incentives being added to BTSX the CAP will surpass Litecoin.If interest/incentives is not added for say a month from now you should also see BitAssets already in circulation starting to fetch prices >2% below the peg on average. (No economics degree or prediction market understanding, novice trader, don't understand options, contracts etc.. So take it with a pinch of salt but that's my prediction...)That's a fair and informed prediction. I'll hold you to it! Honestly, though, we need to wait for a fully functional client. Some of us non-techies have barely been able to open the thing over the last few iterations. Once that is set and the marketing really gets into gear, I agree with your second part.I'm in the same non-techie boat and while I look forward to a more stable client it won't really help the peg like they hope imo. For me, the most obvious example is BitBTC Why would anyone buy BitBTC @1-1 in BTSX without an incentive?They would then have BTSX failure/bug risk. They may not be able to re-sell BitBTC @ 1-1. They have to pay trading fees as well as the same conversion fee to real BTC as if they just sent BTSX to an exchange.So it's obvious to me incentives will have to be added. The good news is shorts are willing to do that atm & BitBTC with incentives is a game changer
Quote from: Empirical1.1 on September 04, 2014, 11:42:46 pmQuote from: Empirical1 on August 25, 2014, 12:18:17 amI think a lot of people are hoping BitUSD may track USD fairly close to 1-1 most of the time.However because people are so bullish on BTSX and shorting BTSX lets you take a leveraged position on BTSX. BTSX bulls may be willing to short still at $0.70, this trading range will be so far from the peg that it could damage the credibility of the peg. This could make people sell BTSX. This will mean less BTSX bulls willing to short below the peg and the situation will correct itself. I don't mind a BitUSD like that but it might not appeal as much to retailers and savers.It seems to make it stable you should introduce free market interest rates.Then you still short 1-1 but when most people are bulls like now you will pay a higher interest rate to short BitUSD as opposed to shorting very far below the peg.I made this prediction before BitAssets started trading. While not as low as $0.7, the first part essentially came true. (Too many people willing to short below the peg.) Enough to warrant introducing price feeds. The second part has been implemented (only shorting @ 1-1) but without interest rates...The third part, interest/incentive rates are needed I think BM has a great solution here - https://bitsharestalk.org/index.php?topic=8235.msg108444#msg108444My new predictionDespite claims that the peg is working BitAsset creation will be minimal. (The share price will languish below $80 million CAP) Over the next few weeks the voices will get louder asking for interest. Within a week of interest/incentives being added to BTSX the CAP will surpass Litecoin.If interest/incentives is not added for say a month from now you should also see BitAssets already in circulation starting to fetch prices >2% below the peg on average. (No economics degree or prediction market understanding, novice trader, don't understand options, contracts etc.. So take it with a pinch of salt but that's my prediction...)That's a fair and informed prediction. I'll hold you to it! Honestly, though, we need to wait for a fully functional client. Some of us non-techies have barely been able to open the thing over the last few iterations. Once that is set and the marketing really gets into gear, I agree with your second part.
Quote from: Empirical1 on August 25, 2014, 12:18:17 amI think a lot of people are hoping BitUSD may track USD fairly close to 1-1 most of the time.However because people are so bullish on BTSX and shorting BTSX lets you take a leveraged position on BTSX. BTSX bulls may be willing to short still at $0.70, this trading range will be so far from the peg that it could damage the credibility of the peg. This could make people sell BTSX. This will mean less BTSX bulls willing to short below the peg and the situation will correct itself. I don't mind a BitUSD like that but it might not appeal as much to retailers and savers.It seems to make it stable you should introduce free market interest rates.Then you still short 1-1 but when most people are bulls like now you will pay a higher interest rate to short BitUSD as opposed to shorting very far below the peg.I made this prediction before BitAssets started trading. While not as low as $0.7, the first part essentially came true. (Too many people willing to short below the peg.) Enough to warrant introducing price feeds. The second part has been implemented (only shorting @ 1-1) but without interest rates...The third part, interest/incentive rates are needed I think BM has a great solution here - https://bitsharestalk.org/index.php?topic=8235.msg108444#msg108444My new predictionDespite claims that the peg is working BitAsset creation will be minimal. (The share price will languish below $80 million CAP) Over the next few weeks the voices will get louder asking for interest. Within a week of interest/incentives being added to BTSX the CAP will surpass Litecoin.If interest/incentives is not added for say a month from now you should also see BitAssets already in circulation starting to fetch prices >2% below the peg on average. (No economics degree or prediction market understanding, novice trader, don't understand options, contracts etc.. So take it with a pinch of salt but that's my prediction...)
I think a lot of people are hoping BitUSD may track USD fairly close to 1-1 most of the time.However because people are so bullish on BTSX and shorting BTSX lets you take a leveraged position on BTSX. BTSX bulls may be willing to short still at $0.70, this trading range will be so far from the peg that it could damage the credibility of the peg. This could make people sell BTSX. This will mean less BTSX bulls willing to short below the peg and the situation will correct itself. I don't mind a BitUSD like that but it might not appeal as much to retailers and savers.It seems to make it stable you should introduce free market interest rates.Then you still short 1-1 but when most people are bulls like now you will pay a higher interest rate to short BitUSD as opposed to shorting very far below the peg.
Brian organized a "How To Use The Wallet" - webinar with already 1000 users registeredhttps://bitsharestalk.org/index.php?topic=7254.new#new
I think they are referencing USD/bitUSD. $.70 per bitUSD. 30 cents below where the peg should be.
If any motherfucker dares to short at $0.7 I will eat his collateral like a mama bear eats baby bear hunters
Quote from: Empirical1 on August 25, 2014, 03:02:04 pmQuote from: bytemaster on August 25, 2014, 02:49:50 pmThe premium for shorting below the peg will be proportional to the interest rate paid for going long.... the farther from the peg, the higher the effective interest rate.Yes this is kind of my understanding. I was just worried BTSX bulls would be willing to pay such a high interest rate to short right now it could move the price too far away from the peg but hopefully it will be fine.I think it will be tempered against the risks of an unproven market.
Quote from: bytemaster on August 25, 2014, 02:49:50 pmThe premium for shorting below the peg will be proportional to the interest rate paid for going long.... the farther from the peg, the higher the effective interest rate.Yes this is kind of my understanding. I was just worried BTSX bulls would be willing to pay such a high interest rate to short right now it could move the price too far away from the peg but hopefully it will be fine.
The premium for shorting below the peg will be proportional to the interest rate paid for going long.... the farther from the peg, the higher the effective interest rate.
Quote from: toast on August 25, 2014, 12:20:25 amIf any motherfucker dares to short at $0.7 I will eat his collateral like a mama bear eats baby bear hunters I'll take that to mean I've misunderstood something here and that even if I'm really bullish on BTSX, besides damaging the peg, I shouldn't be willing to short too far below it if there are no longs at BitUSD 1-1 Edit As an example. I think I'm very bad with this stuff, I may not understand it...If you think BTSX will double or triple in value in the short term like most of us do, even if you think the peg will come back in line it seems you can short very far below it. If Mr. B is going long at 0.8 BitUSD selling 10 000 BTSX for $10 000 they will make an easy $2500 profit if the peg comes back in line at 1-1However by going short at 0.8 I now have the option to buy 10 000 BTSX at a later date for $12 500 worth of BTSX (the cost if the peg comes back in line) But I think the BTSX price will double or triple making those 10 000 BTSX worth $20 000-$30 000 so it's an easy trade to short at 0.8 BitUSD if no-one is willing to go long higher than that. As I said I've never shorted anything, what am I missing?
QuoteI think lots of people will be willing to short BitUSD, not a lot willing to go long at the start. Might make BitUSD price trade too far below peg. But this will hurt BTSX price causing the situation to correct itself... Seems like it may need interest rates if you really want to keep it at 1-1. Because a short may be willing to short BitUSD and pay X% interest to entice a long to trade.You lost me here...why this will hurt BTSX price? If a lot of people go short bitusd, wouldn't bitusd fall relatively to BTSX price. Therefore BTSX will rise and will be worth more bitsud..
I think lots of people will be willing to short BitUSD, not a lot willing to go long at the start. Might make BitUSD price trade too far below peg. But this will hurt BTSX price causing the situation to correct itself... Seems like it may need interest rates if you really want to keep it at 1-1. Because a short may be willing to short BitUSD and pay X% interest to entice a long to trade.
Quote from: happypatty on August 23, 2014, 02:21:59 pmThose who short BitUSD, are actually expecting rise in BTSX, not drop. It is going to be very interesting to see how this unfolds, but this is the only chain that allows margin.In other words those who short BitUSD are putting up their BTSX stake as a margin. It's like buying more BTSX with BTSX. could someone explain this to me in other words and in a more detailed way please? I didn't understand how it would work
Those who short BitUSD, are actually expecting rise in BTSX, not drop. It is going to be very interesting to see how this unfolds, but this is the only chain that allows margin.In other words those who short BitUSD are putting up their BTSX stake as a margin. It's like buying more BTSX with BTSX.
It does now in 0.4.7
I know I have to be missing something here. Is this person just trying to get the first bitUSD? What are ways they can profit when paying 3.015815 fiat for 1 bitUSD.(*I think I see it, They are betting there will be a massive drop in the price of btsx) If this is their play how do you figure out how much of a drop they need to profit. Why not just sell btsx on the exchange and get 11.88990981 btc then convert to fiat and have 6031.63? Whats could be the possible motivation for buying bitUSD at roughly 3 times the price of fiat?
The short order was placed over a week ago and has not been canceled. Sent from my iPhone using Tapatalk