Yea when I first join bitshares I was frustrated with the lack of usd/btsx charts. Now that bitUSD has launch I can use that (just need a little more volume)

I agree that it is a bad idea to calculate a cost basis for alts in btc. Unless you are trading back and forth from alts to btc and not using USD at all.

Does it hit your CC as a purchase or a cash advance?


Nice site, sounds like a great service.  Wish I knew about this last week . I bet I could use my Visa debt card to pull directly from my checking account same day.

Sadly cash advance
If you link your bank account is this cheaper than coinbase or the same cost?

Quote from: Mysto on October 15, 2014, 12:07:51 am

I don't think they are reluctant, I think it has to do with the fact that there is low demand for bitUSD right now. It's easy to get in but not so easy to get out. I think the only solution is to create demand for bitUSD through merchant adoption. The best mm bots can do right now is create artificial volume.

Is it a catch-22 though? Low demand because there is low liquidity?

No, I think there is low liquidity because of low demand. I don't think adding more liquidity will increase demand very much. The only way I think bitUSD demand will go up is if you can use it to buy goods and services.

So far the only real users are those that are really bullish on BTSX so they are reluctant to go long bitUSD. The speculative appreciation of BTSX is far greater than the expected yield on bitUSD.

When BTSX has its first big spike to $0.10 or $0.50 I think we'll see a lot of people selling some BTSX to take some profits and hedge a bubble.

Yes but that will be temporary.

Well, I'm reluctant because if I decided to play market maker and added a bunch of buy-side liquidity, I'd end up with a great big pile of bitUSD and nobody to sell it to. The fact that nobody is buying bitUSD near the peg is evidence that there isn't much money to be made playing market-maker.

Sent from my SCH-S720C using Tapatalk 2

Yea I guess that would make one reluctant.

Great post and great replies. I was actually thinking about this myself!

Quote from: trader on October 14, 2014, 10:57:33 pm

Quote from: happybit on October 14, 2014, 10:42:27 pm

can I just send the BitUSD to my account?  -- the same one I sent the BTSX before?

Yes your BTSX stores shares and BitUSD, so you can send it all to your wallet account.

thanks!  I noticed that there is a 2% spread on Bter for bitUSD-USD... is that "normal" ?

Yea right now the volume is very low so the spread is going to be a lot wider.
http://coinmarketcap.com/assets/bitusd/#markets
So you'll probably only be able to convert ~$50 at a 1-1 ratio per day on bter.

I would especially appreciate the "Export to CSV" button!

Quote from: Mysto on October 14, 2014, 09:18:43 pm

Quote from: happybit on October 14, 2014, 09:11:01 pm

Quote from: OldMan on October 14, 2014, 08:17:47 pm

Quote from: lil_jay890 on October 14, 2014, 05:45:24 pm

Bitcoin went from 2.60 to 1165 in 2 years (44,707% gain).  This was when hardly anyone had even heard of crypto currencies too.  And still 2bln is not that hard to achieve even if there is just a slight change in the majority's public perception of crypto currencies.  Time will tell, but things move fast when momentum takes hold.

BTC was also much more difficult to acquire during those two years than BTSX is today.

The fiat on/off ramps I3 is teasing could make BTSX share price look like it has a hyper-drive compared to BTC.

what is I3 ?

Invictus Innovations Incorporated they are the dev team.

Thanks.

Are there any links to these "teasings" ?

I imagine they will have HUGE troubles with regulation if that goes big.  Do you guys know why Ethereum incorporated in Switzerland? (I heard because they got gov't clearance... a kind of a break... to do their business, raise money, etc.  Any such things for I3?

https://bitsharestalk.org/index.php?topic=9847.0

I3 is based in Hong Kong