BitShares Forum
Main => General Discussion => Topic started by: luckybit on August 27, 2014, 05:08:22 am
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Most of the volume on Coinmarketcap selling is BTSX -> CNY.
So why wasn't BitCNY issued yesterday?
http://coinmarketcap.com/currencies/bitshares-x/#markets
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Had 31 feeds, needs 20 more. I'm surprised it doesn't have them yet.
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I believe that the chinese board asked us to hold off on it for a couple of days.
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I believe that the chinese board asked us to hold off on it for a couple of days.
Hold off so they could sell off?
I don't get it.
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I'll try to find the post.
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I believe that the chinese board asked us to hold off on it for a couple of days.
From what I've been able to gather they need a little more time with version 0.4.8. I can't wait for BitCNY! 8)
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Is the trading page translated already?
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*.delegate.xeroc published their feeds two days ago .. I need to adjust them because markets not open yet :( ;-)
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*.delegate.xeroc published their feeds two days ago .. I need to adjust them because markets not open yet :( ;-)
Reminds me..I need to update my bitCNY feed.
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maybe bitCNY is what will kick bitUSD to start given a high percentage of the trading volume comes from the chinese
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maybe bitCNY is what will kick bitUSD to start given a high percentage of the trading volume comes from the chinese
That is my hope too! Also, after Brian's webinar tomorrow.
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maybe bitCNY is what will kick bitUSD to start given a high percentage of the trading volume comes from the chinese
That is my hope too! Also, after Brian's webinar tomorrow.
My thinking now says BitBTC is the one that will help BTSX the most in the short term, as I said in other thread...
"A lot of people have a mental block where they keep their crypto investments separate from their fiat.
Keeping fiat in crypto form either requires a lot of faith in the BTSX system (in which case your a BTSX bull & would prefer to short) or a huge amount of distrust in the regular financial system. (BTSX is very new and can't engender that level of trust yet nor does it have any BitUSD utility yet.) So in the short term <3 months you're relying mainly on traders etc. vs. a lot of demand from people who actually want to keep a position in fiat on the blockchain.
However very few people could resist moving some of their BTC position into BTSX if people are effectively paying them high interest shorting below the peg.
The BitBTC peg will be tighter and effective BTC interest will be more of a talking point. Confidence in BitBTC on BTSX will be easier and more natural than fiat. So you will attract a lot more BitBTC longs than BitUSD longs in the shor term. That peg being tighter will help the BitUSD peg."
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My thinking now says BitBTC is the one that will help BTSX the most in the short term, as I said in other thread...
liondani (unlocked) >>> wallet_publish_price_feed liondani 0.00006909 BTC
{
"expiration": "20140827T232900",
"delegate_slate_id": null,
"operations": [{
"type": "update_feed_op_type",
"data": {
"feed": {
"feed_id": 4,
"delegate_id": 378
},
"value": {
"ratio": "0.06909",
"quote_asset_id": 4,
"base_asset_id": 0
}
}
},{
"type": "withdraw_pay_op_type",
"data": {
"amount": 50000,
"account_id": 378
}
}
],
"signatures": [
"1f9bfca5ba6f3d25aa46e604b4b5b3661c72a48138406f56efb792d71e55f9af307b3ff2b89d09e0685621d895e15abd4a4cf6caa100f5c5dae04781ac3c08b3d8"
]
}
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The truth is that some Chinese who can understand all the English terms in market can play bitUSD market very well. No need to open another market for them. For others who are only capable of playing bitCNY and BTSX do not understand the meaning of buy, sell, margin, short when they are still in English. That's why most of the trade are currently on exchanges.
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The truth is that some Chinese who can understand all the English terms in market can play bitUSD market very well. No need to open another market for them. For others who are only capable of playing bitCNY and BTSX do not understand the meaning of buy, sell, margin, short when they are still in English. That's why most of the trade are currently on exchanges.
Most people who speak English are having problems figuring out all of that stuff. It's understandable and perfectly reasonable. It seems this was the result of releasing with no documentation, help, tool tips, or anything. As a result few people can figure out Bitshares to participate.
Any ideas on what we can do to fix this?
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My thinking now says BitBTC is the one that will help BTSX the most in the short term, as I said in other thread...
"A lot of people have a mental block where they keep their crypto investments separate from their fiat.
Keeping fiat in crypto form either requires a lot of faith in the BTSX system (in which case your a BTSX bull & would prefer to short) or a huge amount of distrust in the regular financial system. (BTSX is very new and can't engender that level of trust yet nor does it have any BitUSD utility yet.) So in the short term <3 months you're relying mainly on traders etc. vs. a lot of demand from people who actually want to keep a position in fiat on the blockchain.
However very few people could resist moving some of their BTC position into BTSX if people are effectively paying them high interest shorting below the peg.
The BitBTC peg will be tighter and effective BTC interest will be more of a talking point. Confidence in BitBTC on BTSX will be easier and more natural than fiat. So you will attract a lot more BitBTC longs than BitUSD longs in the shor term. That peg being tighter will help the BitUSD peg."
My thinking exactly. I mean most people trading crypto want at least over half their exposure to crypto (not fiat). So this market makes the most sense to me, in that it will be the most active/beneficial (short term anyway).
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The truth is that some Chinese who can understand all the English terms in market can play bitUSD market very well. No need to open another market for them. For others who are only capable of playing bitCNY and BTSX do not understand the meaning of buy, sell, margin, short when they are still in English. That's why most of the trade are currently on exchanges.
Most people who speak English are having problems figuring out all of that stuff. It's understandable and perfectly reasonable. It seems this was the result of releasing with no documentation, help, tool tips, or anything. As a result few people can figure out Bitshares to participate.
Any ideas on what we can do to fix this?
While this would be great I'm not sure if this is their responsibility. When you build a car you expect people who buy it to already know how to drive.
I'm not all up on shorts and what not but I'm not looking to 3I to teach me. This is normal finance stuff that's been documented ad nosium.
What we do need are instructions and classes on what we don't have a reasonable expectation of the general trader to know. Block chains, DPoS, etc. A lot of that is implantation detail the user doesn't need to know but some may find it useful.
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For those delegates who have published the BitCNY price feed, please update your fed price ASAP. We have reached 46 delegates now.
I can see some prices are not so reasonable.
You may try to use alt's program to update the price feed every time when the price moves up or down by 5% (make sure you have enough funds in your wallet).
https://bitsharestalk.org/index.php?topic=7787.msg103061#msg103061 (https://bitsharestalk.org/index.php?topic=7787.msg103061#msg103061)
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The price feed seems to be up and running.
How is this market supposed to start now?
With all the new anti-shorting market rules I don't think we will ever see 10 million BTSX worth of short orders within 10% of the peg.
Can the min market depth be abolished now or at least significantly reduced please?
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The price feed seems to be up and running.
How is this market supposed to start now?
With all the new anti-shorting market rules I don't think we will ever see 10 million BTSX worth of short orders within 10% of the peg.
Can the min market depth be abolished now or at least significantly reduced please?
At 19:00 UTC min market depth should decrease to 0.25% of original share supply = 5,000,000 BTSX
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The price feed seems to be up and running.
How is this market supposed to start now?
With all the new anti-shorting market rules I don't think we will ever see 10 million BTSX worth of short orders within 10% of the peg.
Can the min market depth be abolished now or at least significantly reduced please?
You can short well below market (ie: your short bid is much lower than any ask is willing to take). You just cannot short "above market". ie: the restriction is one sided.
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With the GUI I can't (using 0.4.12, Win 32bit)
If I flip the market the short tab disappears totally.
(http://i60.tinypic.com/s448ow.jpg)
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The flip is BTSX tabs and the supply is fixed (can't short)
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The flip is BTSX tabs and the supply is fixed (can't short)
If "can't short" is a feature of the flipped market I don't understand BM's remark, "your short bid is much lower than any ask" clearly refers to a flipped market.
edit: maybe the current problem with the BitUSD market is related to this one. No shorts possible far from the peg, so the 10m BTSX order got kicked out?
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The flip is BTSX tabs and the supply is fixed (can't short)
If "can't short" is a feature of the flipped market I don't understand BM's remark, "your short bid is much lower than any ask" clearly refers to a flipped market.
edit: maybe the current problem with the BitUSD market is related to this one. No shorts possible far from the peg, so the 10m BTSX order got kicked out?
That's a pretty good thought. Still there but filtered out of the display (and I guess also depth?). What I meant in my earlier post is that when the market is showing the CNY tabs there is a short tab because you can short CNY into existence. When the market is flipped the other way so the tabs say BTSX there is no short tab because BTSX can't be shorted into existence like an asset.