BitShares Forum
Main => General Discussion => Topic started by: nedscott on September 19, 2014, 12:26:02 am
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Is there a maximum supply for BitUSD in Btsx?
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I don't think so. However, it is shown that a maximum bitUSD supply of 100,000,000,000 in the system. That's actually a extremely big amount.
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Yes. In the console or CLI you can type blockchain_get_asset:
blockchain_get_asset USD
{
"id": 22,
"symbol": "USD",
"name": "United States Dollar",
"description": "1 United States dollar",
"public_data": "",
"issuer_account_id": -2,
"precision": 10000,
"registration_date": "20140719T000000",
"last_update": "20140719T000000",
"current_share_supply": 5502910722,
"maximum_share_supply": 1000000000000000,
"collected_fees": 27744941
}
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btsx doesn't create btsx though. it only burns them.
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Not sure if this is correct, but as I understand it there are a maximum of 2 billion BTSX; so if you need some amount, say X, of BTSX held as collateral for each bitUSD created, then 2 billion BTSX divided by X will be the limiting factor. So for instance if you need 200% worth of BTSX in collateral for each bitUSD, then when you have 1 billion BTSX worth of bitUSD there would be no more BTSX left, as 2 billion BTSX would be held as collateral. But as you know there are other bitAssets as well, and they also require backing by BTSX, so it will really be 2 billion BTSX divided by X plus Y plus Z. This also means that the higher the market cap of BitShares X, the more bitUSD and other assets can be created, because less BTSX is needed to back each bitUSD etc. Did I get that right?
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Isnt it an issued assets like all? On http://bitsharesblocks.com/assets/asset?id=USD - you can see that Maximum supply is 100,000,000,000
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Not sure if this is correct, but as I understand it there are a maximum of 2 billion BTSX; so if you need some amount, say X, of BTSX held as collateral for each bitUSD created, then 2 billion BTSX divided by X will be the limiting factor. So for instance if you need 200% worth of BTSX in collateral for each bitUSD, then when you have 1 billion BTSX worth of bitUSD there would be no more BTSX left, as 2 billion BTSX would be held as collateral. But as you know there are other bitAssets as well, and they also require backing by BTSX, so it will really be 2 billion BTSX divided by X plus Y plus Z. This also means that the higher the market cap of BitShares X, the more bitUSD and other assets can be created, because less BTSX is needed to back each bitUSD etc. Did I get that right?
Yeah, that's right. I usually think of it the other way around; so instead of thinking of a max on BitUSD, I think of a min market cap on BTSX. The market cap of BTSX is always at least 1.5x the combined market cap of all bitAssets. You put an upper bound on the number of bitAssets, I put a lower bound on the value of BTSX.
I think it's particularly interesting in your example when you say "then there would be no more BTSX left." That is, if the market wanted more bitAssets to be created, the price of BTSX would have to increase. If there are essentially no shares of BTSX available, even a tiny increase in demand for them would cause an enormous increase in price. It's a good example of why demand for bitAssets drives demand for BTSX.
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