BitShares Forum
Main => General Discussion => Topic started by: George_Bitspark on August 10, 2017, 04:24:00 am
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Hi all!
We have some big news today, we at Bitspark (www.bitspark.io) will be switching to Bitshares in future for our remittances, starting with our recent deal with the UN ( http://www.eurasia.undp.org/content/rbec/en/home/blog/2017/7/25/-From-Russia-to-Tajikistan-changing-the-way-money-moves.html (http://www.eurasia.undp.org/content/rbec/en/home/blog/2017/7/25/-From-Russia-to-Tajikistan-changing-the-way-money-moves.html) ) in Tajikistan.
Heres why we came to this conclusion: https://steemit.com/bitcoin/@bitspark/bitspark-switching-to-bitshares-for-remittances
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A well written article!
And IMHO, a wise decision on your part. Congrats and best of luck!
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This means there is one less hurdle for liquidity in new markets and there is also a natural incentive to create more liquidity- if there is a rising demand for a fiat pegged cryptocurrency then it will be trading higher than its real price so you can make money in creating (locking up BTS collateral) and selling it to the market.
This is not that easy. By issuing bitAssets backed by BTS collateral, you expose yourself to BTS price volatility. This process needs some smart management.
P.S. A number of very good points are made in the article. +5%
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This means there is one less hurdle for liquidity in new markets and there is also a natural incentive to create more liquidity- if there is a rising demand for a fiat pegged cryptocurrency then it will be trading higher than its real price so you can make money in creating (locking up BTS collateral) and selling it to the market.
This is not that easy. By issuing bitAssets backed by BTS collateral, you expose yourself to BTS price volatility. This process needs some smart management.
P.S. A number of very good points are made in the article. +5%
Our intention is that we wont be shorting them into existence ourselves due to this risk but being the constant buyer in the market for traders who do. Our first obligation is the safe custody of our customers money. Over time we will be able to accumulate enough of the smartcoins to fully switch over our services from BTC and our existing liquidity providers to using only bitassets on the DEX. We will be expanding upon some of the specifics in the coming weeks in follow up posts.
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Great to hear! Look forward to more. And of course ZEPH soon enough.