BitShares Forum
Main => General Discussion => Topic started by: MessyCoin on January 31, 2016, 12:53:19 am
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Hi.
I want to try some trading on the DEX in pairs that use the asset "BTC" (https://bitshares.openledger.info/#/asset/BTC), but not sure the best way to get the asset in the first place, starting with real BTC.
I have looked at going through OPENBTC, METAEX.BTC and TRADE.BTC. None of these seem to have very high liquidity. I am fairly new to Bitshares2.0 but don't see any way to easily turn a few BTC into the BTC asset.
Does anyone have any suggestions?
I'm looking for the most efficient way to turn real BTC into the "BTC" asset on Bitshares, preferably with a 1:1 exchange rate.
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We currently don't have a bridge from Bitcoin into bitBTC unfortunatelly. As for the liquidity, we are working hard to bring in more liquidity providers and traders and are revising our fee schedule to encourage more market makers.
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We currently don't have a bridge from Bitcoin into bitBTC unfortunatelly. As for the liquidity, we are working hard to bring in more liquidity providers and traders and are revising our fee schedule to encourage more market makers.
Thanks for your reply.
It seems the best route was to buy BTS and either trade them on the DEX for bitBTC or find pairs that used BTS for the asset I wanted I wanted to buy, instead trying to use bitBTC .
It would obviously be good if the providers of secondary BTC tokens (not sure the correct name for these) like OPENBTC, METAEX.BTC and TRADE.BTC maintained more liquidity for their backed versions of BTC and other assets, but I understand that may not always be practical. Aside from the liquidity issues it causes it's also a little confusing to have so many tokens representing the same thing (in this case BTC) but I guess it makes sense that each exchange needs it's own version and can't all just use bitBTC.
Cheers.
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It would obviously be good if the providers of secondary BTC tokens (not sure the correct name for these) like OPENBTC, METAEX.BTC and TRADE.BTC maintained more liquidity for their backed versions of BTC and other assets
METAEX.BTC has 9,999,991 BTC of buy side liquidity. The sell side just represents how many METAEX.BTC are in the wild.
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if you look into the market you will find, that bitBTC is trading with a premium of 10-20% so it is really unlikly that you can convert 1:1
what you can do it BTC/BTS or BTC/METAEX:BTC on www.metaexchange.info
internal you can try BTS/bitBTC or METAEX:BTC/BTC
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I wrote here about a Liquidity Event. That day chance to buy a bitBTC in a good price should be much higher. I hope :)
https://bitsharestalk.org/index.php/topic,21265.0.html