BitShares Forum
Main => Technical Support => Topic started by: bitsharesbrazil on June 15, 2016, 07:50:47 pm
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I bought bitbtc using bts.......now I would like to understand where I can see in which situation it get liquidated, I cannot find info about my position at the moment I payed a bitbtc 178000bts, need help to understand.
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If you bought bitBTC you will never get liquidated.
If you shorted bitBTC you will get liquidated if the value of your collateral falls too low.
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I bought bitbtc....
isnt bts collateral of my bitbtc?
if bts goes too much down wont be my bitbtc converted to bts?
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If you bought it, it is yours forever. If you borrowed it, then it depends on your collateral for how long can you keep your debt. When your collateral gets low, it gets sold and your debt gets settled.
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understood, but what guarantee bitbtc value that I bought, no bts? is it intrisic? So I need a order at the other side of the orderbook or I will be stuck with my bitbtc n cannot be excanged to bts anymore? just want understand clearly....
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now i can send to anyone bitbtc 8) amazing
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so after I undertsand it a little bit if bitcny, bitusd, bit gold dont get settled if you buy it, the only risk is if there is no order to match it, right? just need more people using it n trusting it.....HOLY SHIT THIS IS DECENTRILISED!!!!!
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The value of your bitBTC is guaranteed by BTS collateral which a guy who borrowed it into existence left. You can sell your bitBTC on DEX for BTS close to feed price as long as there is liquidity on the market. If there is no liquidity on the market, you can still force settle your BTC at feed price. As a holder of bitBTC, you are pretty well protected.
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Hy yvi,
Thanks for clarification.
Ok, now I want to sell my bitbtc, but lets suppose there is no orders to buy my bitbtc, how do I can force settle to sell my bitbtc n get bts? the price I would get is that red line splitting?
more I know more I in love with bitshares 8) eth is nothing near to bitshares MARK MY WORDS!
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If you want to force settle your bitBTC, go to your account overview and click on "bitBTC" in Balances table, Assets column. In the expended list you will be given a choice to force settle your asset. If you click it, 24 hours later your bitBTC will be sold to the least collateralized borrower at whatever feed price will be at that moment, and his position will be updated. But don't do this, bitBTC:BTS has pretty good liquidity and you'll probably get better price at the market.
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holy shit man, bts is so big i never touch that pop-up, didnt knew it. thanks again.