BitShares Forum

Main => General Discussion => Topic started by: nomoreheroes7 on August 29, 2014, 01:51:10 pm

Title: Is this the time to buy BitUSD?
Post by: nomoreheroes7 on August 29, 2014, 01:51:10 pm

So I'd like to shelter some of my BTSX against the current drop in price, so I'm thinking I would want to buy BitUSD. However, I'm seeing BitUSD currently trading for about $0.029 per BTSX (34 BTSX per BitUSD), whereas the current market price is about $0.021 (0.00004250 BTC per BTSX), which is a pretty significant spread. It almost seems more beneficial to cash out into BTC at this point, with BitUSD having such a significant discount. Thoughts?

Title: Re: Is this the time to buy BitUSD?
Post by: nomoreheroes7 on August 29, 2014, 01:54:46 pm

Well since the time I submitted this post the value of BitUSD has gone up to 38.4 BTSX, which more approximates the current price. Interesting...

Title: Re: Is this the time to buy BitUSD?
Post by: bytemaster on August 29, 2014, 02:16:53 pm

Right now BitUSD is cheap vs USD and we are committed to making updates that will establish the GOAL which is a pegged crypto-asset that doesn't have to trust a 3rd party for reserves.

Title: Re: Is this the time to buy BitUSD?
Post by: mf-tzo on August 29, 2014, 05:42:52 pm

Quote

Right now BitUSD is cheap vs USD and we are committed to making updates that will establish the GOAL which is a pegged crypto-asset that doesn't have to trust a 3rd party for reserves.

 +5%. That statement is good enough for me. Unfortunately I have no more fiat to invest, no more bitcoins and I just can't sell any Bitshares at current prices... The bigger problem though is that I can't use the client due to bugs  :(...when is expected the next release?

Title: Re: Is this the time to buy BitUSD?
Post by: yellowecho on August 29, 2014, 07:10:19 pm

I wish I could tell you man.

I majorly fucked myself last night shorting bitUSD because I got confused using the GUI!   ::)  I'm sure I'm not the only one by the looks of some of these orders.  Luckily I haven't quite hit a margin call yet but I've had several close calls. :(

Title: Re: Is this the time to buy BitUSD?
Post by: oldman on August 29, 2014, 07:20:34 pm

Quote from: mf-tzo on August 29, 2014, 05:42:52 pm

Quote

Right now BitUSD is cheap vs USD and we are committed to making updates that will establish the GOAL which is a pegged crypto-asset that doesn't have to trust a 3rd party for reserves.

 +5%. That statement is good enough for me. Unfortunately I have no more fiat to invest, no more bitcoins and I just can't sell any Bitshares at current prices... The bigger problem though is that I can't use the client due to bugs  :(...when is expected the next release?

If anyone is looking for a reason for the recent downtrend in price, this is it. People are not trading and capital is not moving in because the interface is buggy.

Title: Re: Is this the time to buy BitUSD?
Post by: yiminh on August 29, 2014, 07:34:22 pm

the wallet bug destroyed the market liquidity, to get a margin call in this iliquid market is very unfortunate:(