Quote from: GaltReport on September 03, 2014, 05:14:45 pm

American's "Hoarding" money: http://www.cnbc.com/id/101963821

This seems like a clueless report to me.  Certainly there are a lot more people (and most importantly, governments like China and large international companies) hoarding USD more than just Americans.

I actually like this part of the article better:

"The findings, of course, beg the question of what happens once the Fed takes its foot off the throat of bond yields, people start spending again, and the velocity of money, at least theoretically speaking, runs wild.

Economist Michael Pento, a frequent and harsh Fed critic, believes the St. Louis group has some of its assumptions wrong, particularly its understanding of why people aren't spending money. He sees it more as a function of high levels of debt that are constraining spending.

While Pento believes rates should rise, he thinks the initial reaction is going to be painful for the economy and unlikely to unleash a torrent of new spending."

Quote from: GaltReport on September 03, 2014, 04:43:51 pm

Quote from: emski on September 03, 2014, 04:40:57 pm

Quote from: GaltReport on September 03, 2014, 04:37:07 pm

In addition to a reasonable price, people who buy BitUSD need to know that they can sell it.  If the marketplace in BitShares is so bullish on BTSX, I am concerned that people who by BitUSD won't be able to sell it.  Are they planning on implementing any sort of market maker that will buy BitUSD from seller at it's current peg?

It is being discussed extensively. However such market maker requires capital or dilution. Dilution is out of the question (my impression). Question for capital is - who will provide it. So currently (as I understand it) the answer is "no market maker".

I'm glad it's being discussed because as a potential buyer of BitUSD, it would be a big concern.  It will be interesting to see how it plays out.

As a potential buyer of BitUSD would you be more likely to buy if you were earning interest daily on holding your BitAsset?

That is what I'd like to see introduced.

That's a good question.  I would be more inclined to buy but the biggest concern would be that I could sell it when necessary.  Interest is good but interest that you can never realize (by selling it) is not that good.

Ideally, interest plus confidence that you can sell it, would be great.

Any bitUSD is trapped inside the blockchain. It cannot leave (read transform into BTSX) unless 90% of USD value is paid (in BTSX).

In the examples you state "governments" tried to purchase huge amounts of USD. Here there is no such thing. bitUSD is traded (at least) at 90% of USD value (based on feeds).

In this form it will either work as intended or trade will stop. It is an experiment after all.

In addition to a reasonable price, people who buy BitUSD need to know that they can sell it.  If the marketplace in BitShares is so bullish on BTSX, I am concerned that people who by BitUSD won't be able to sell it.  Are they planning on implementing any sort of market maker that will buy BitUSD from seller at it's current peg?

Quote from: biophil on September 02, 2014, 10:16:08 pm

Quote from: oco101 on September 02, 2014, 10:05:13 pm

Before the median price was introduced, the pegging was doing fine but there was a danger that  bitUSD will lose track of the USD and then the whole Bitsharex it will not work.
Now the  bitUSD is not in danger of not tracking USD but the market is dead.
I rather preferred the peg to track and in no  danger!!!  Let see with the GUI changes then I suspect you'll not see that many short out of range, and much more trading happening.

Agree! It seems like peoples' best argument for getting rid of the price feeds is that it was more fun the other way. More fun? Really? If you want fun playing with money you should hit the local casino. Fun doesn't equate to robust financial system.

Sent from my SCH-S720C using Tapatalk 2

The Financial markets are the biggest casino in the world.  Also having the feeds means if people are playing it (like in China where they only need to make $5 - $10 dollars a day) then delegates will make more money from transactions.

speaking of feeds, if you are a delegate, how do you keep your delegate wallet funded to publish price feeds if scanning of transactions is disabled? (sorry off topic)

Quote from: GaltReport on September 02, 2014, 09:57:36 pm

It seems to me that it's fine as long as they fix the GUI so it's EASY to see what prices can execute at the moment.  Maybe some checkboxes or something to alter the display of the orders.

Just bought some BitUSD!!

Buy more! less than $4000 to go before we push through that stupid $9833 order...

Can orders like that be partially filled or is it all or nothing?

Quote from: GaltReport on September 02, 2014, 09:27:18 pm

Quote from: biophil on September 02, 2014, 09:24:52 pm

Quote from: Riverhead on September 02, 2014, 09:16:32 pm

Quote from: biophil on September 02, 2014, 09:11:28 pm

Quote from: Riverhead on September 02, 2014, 09:00:56 pm

I put in an ask (and got a warning that I'm 12.5% below the highest bid) for 0.030637 which is lower than the 1 hour average at the top of the screen. It's not going through either. How close to the average does it need to be?

This damn GUI makes it very difficult to explain, but I'll try. Scroll through your list of buys/shorts. Find the top bid order (ignore all the shorts above this). If you place an ask a tiny bit below that bid, it will execute.

Sent from my SCH-S720C using Tapatalk 2

Thanks, I get your meaning. I guess i though the short was someone creating usd and looking for someone to take the other side. Am I not understanding it correctly?

That's right, but those particular shorts are trying to devalue bitUSD relative to USD, so they aren't allowed to execute. They are acting against the peg. Any short above about 0.027 (below about 36) is acting against the peg right now.

Sent from my SCH-S720C using Tapatalk 2

I think I got it now.  Maybe the gui can filter out shorts that can't execute.  You should only be able to see what you can execute?

No we want the GUI to have the shorts so if someone wants to go to that price, they can.

But if they can't execute what is the point?  In case the price changes?  You can allow them to be entered but not displayed if they can't be executed at the current price. 

Or have a checkbox to alter the display.

Quote from: GaltReport on September 02, 2014, 08:25:18 pm

I for one stopped buying/shorting in the market once it seemed like I was placing orders that were not filled and that either there was a bug or I didn't understand what prices I could enter and get filled.

Sir GaltReport.  Will you please post a screenshot here or message me on this forum with what you are looking at?  You can ask me why I cant do this and I will tell you.

PM sent.