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http://www.bitoil.ru/http://newsbtc.com/2014/12/11/bitcoin-oil-new-digital-power-couple/
Apparently they've 'trademarked' BitOil
http://www.forexminute.com/commodities-news/bitreserve-transforms-oil-spendable-currency-51706Quote“For the first time in history, oil will become a form of payment and compete against all major global fiat currencies.”
This is so beautiful.
This is a wave 3, the buying power is much stronger than anything since the August runup when bitassets come out. And probably only 3 of 1!
Does the forced cover buy above the feed price?
I *think* the forced cover will buy at whatever the lowest ask is.
I think it means that the order will sit at the (changing) feed price until it is fully executed.
So for that time anybody can short or sell BitUSD at the feed.
Yes
I want some upwards price movement for black friday
Does the forced cover buy above the feed price?Yes he will - after 30 days, when the short is forced to cover.Lets say I short BitBTC. There are zero sellers right now, so could the person who buys the BitBTC from my short then immediately put it up for sale at a super high price, requiring > 75% of my collateral to cover? Whats the thing Im missing that prevents this attack?
who will buy it at that super high price? putting a sell order does not mean you will actually sell it.
However, the mechanism has some rather serious fragility properties. Sure, if the price of a stable-coin goes to $0.95, and it’s a small drop that can easily be corrected, then the mechanism will come into play, and the price will quickly go back to $1. However, if the price suddenly drops to $0.90, or lower, then users may interpret the drop as a sign that the peg is actually breaking, and will start scrambling to get out while they can – thus making the price fall even further. At the end, the stable-coin could easily end up being worth nothing at all. In the real world, markets do often show positive feedback loops, and it is quite likely that the only reason the system has not fallen apart already is because everyone knows that there exists a large centralized organization (BitShares Inc) which is willing to act as a buyer of last resort to maintain the “market” peg if necessary.
Note that BitShares has now moved to a somewhat different model involving price feeds provided by the delegates (participants in the consensus algorithm) of the system; hence the fragility risks are likely substantially lower now.
No reply, not even PM ?
I've covered a short order and it stole -0.000095 GOLD from my current BitGold balance(in addition to 15.81082 BTS received). Unless i'm missing something this is pretty serious. Why on earth i have to pay additional BitGold just to cover a position that i have already paid for in the past using BTSX. !? The same thing with other BitAssets.
Trx fee on cover op.
You guys are up 300% on your investment now.Is this a joke? Which exchange has this coin ?
It looks like the market thinks that the first D(deflationary)DPOS will actually be a profitable little brother of BitShares. And what's more, it could be our dangerous Libertarian black sheep twin that takes the controversial political stance while we take the more politically correct route. They can do BitBud and all of those off limits BitAssets that we don't want to vote for.
