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Hey, it's the tragedy of the commons!Individual behaviour horizontal, group behaviour vertical:Code: [Select] BTSX Both bUSDBTSX- -2 ? 1BTSX+ 2 1 -1It's rational for every individual to simply hold BTSX under the assumption that it will appreciate when the market peg is successful. However, if everyone holds BTSX the market peg won't be successful. So a bunch of people (or BTSX, at least) have to take one for the team (be collateralized to bUSD) to get the ball rolling.
BTSX Both bUSDBTSX- -2 ? 1BTSX+ 2 1 -1
Quote from: thisisausername on August 21, 2014, 05:46:56 pmHowever, if everyone holds BTSX the market peg won't be successful. If everyone holds BTSX then there won't even be a market. BitUSD only exists when someone wants to hold it over BTSX.
However, if everyone holds BTSX the market peg won't be successful.
If BitUSD existed right now and I was a day-trader, I might buy until after a small correction and consolidation. Imagine a bitcoin bubble, you are bullish bitcoin but think it has grown too fast, so you switch to USD hoping to buy back in cheaper. Same deal here.
I think I have enough BTSX that the perception of a stable peg helps me more than having max leverage.
Is there any potential exchange or gateway to trade USD and BitUSD?The value of BitUSD recognized by market also depends on how much merchants are using them, like BTC. We need endorsement from big merchants.
So it'd be like how PTS carried over to BitsharesX as BTSX?
Quote from: bytemaster on August 20, 2014, 03:23:26 amQuote from: tonyk on August 20, 2014, 03:10:49 amActually if the first ever bitUSD can be somehow marked as being the ONE, I am ready to pay some good money for it!$75 is my first offer![EDIT] OK, I though out I plan how to do it and then have a proof. Hope it works.Oh yeah... this could get interesting. Place the maximum short possible given the median fee, then place the lowest ask... you are sure to get it... but will pay a hefty fee. Who ever pays the most overlap will get it.What happens to BitUSD in the event of a Btsx hard fork?Sent from my iPhone using Tapatalk
Quote from: tonyk on August 20, 2014, 03:10:49 amActually if the first ever bitUSD can be somehow marked as being the ONE, I am ready to pay some good money for it!$75 is my first offer![EDIT] OK, I though out I plan how to do it and then have a proof. Hope it works.Oh yeah... this could get interesting. Place the maximum short possible given the median fee, then place the lowest ask... you are sure to get it... but will pay a hefty fee. Who ever pays the most overlap will get it.
Actually if the first ever bitUSD can be somehow marked as being the ONE, I am ready to pay some good money for it!$75 is my first offer![EDIT] OK, I though out I plan how to do it and then have a proof. Hope it works.
Quote from: alt on August 20, 2014, 02:18:52 amAnother very important reason that I can't hold much bitusd isIf btsx is failed. and you release a new bitshares X, or other chain, all the bitUSD worth nothing, right?new chain only honer XTS holderThis needs to be addressed. If true BitUSD is significantly more riskySent from my iPhone using Tapatalk
Another very important reason that I can't hold much bitusd isIf btsx is failed. and you release a new bitshares X, or other chain, all the bitUSD worth nothing, right?new chain only honer XTS holder
Quote from: toast on August 20, 2014, 01:51:51 amMy arbitrage bot will start long BitUSD just because it is easier for me to reason about.You have a bot already for BTSX/USD? I guess there's been a lot of opportunity to test it.
My arbitrage bot will start long BitUSD just because it is easier for me to reason about.
I want to know how much more than what price.I will buy at price 1:1, but maybe only 10$after I can use these bitUSD to buy a toast, I will buy more.