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Messages - Ander

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3481
General Discussion / Re: dat peg doe
« on: September 26, 2014, 10:43:59 pm »
What is the mechanism which maintains the peg of bitUSD to be equal to 1 USD?

Is it just "we called it bitUSD therefore people think its worth $1 and therefore they will buy when it is lower and short when it is higher?".  Or is there more to the peg than this?

Why will bitGLD equal the price of gold?  Because people believe it will (and run market maker bots to fix it there)?  Or are there also additional mechanisms which will give incentives to buy when it is below gold price, or sell if it is above?

3482
General Discussion / Re: Who let the DOGEs Out?
« on: September 26, 2014, 05:36:35 pm »
Everyone should have a stack even just to tip crypto newbs and make friends, people love it!

Indeed.  the amount of happiness I have felt after having been tipped three cents worth of DOGE is highly irrational!

3483
General Discussion / Re: Who let the DOGEs Out?
« on: September 26, 2014, 05:19:39 pm »
Looking more in depth, both DOGE and BTSX have a majority of their volume traded against CNY. Is China just on a buying frenzy right now or what??

They are on a frenzy for DOGE and BTSX.    Not for bitcoin though.   
When I look at the chats in the chinese exchanges I see lots of pumping of BTSX, DOGE, and PPC lately. 

3484
General Discussion / Re: Who let the DOGEs Out?
« on: September 26, 2014, 05:13:50 pm »
first popular coin that finish mining time.

Yeah this basically.  DOGE had high inflation for all of its existence but its about to have low inflation.

Obviously we know that no inflation is better.  But there are still tons of people who love proof of work, as DOGE has a great proof of work setup - low inflation, but network power supported by the larger litecoin.   They get good security while only having to pay for part of it.

3485
General Discussion / Re: Who let the DOGEs Out?
« on: September 26, 2014, 05:11:41 pm »
BTSX looks to me like its just starting another parabolic move.  It looks just like the DOGE chart a week ago when DOGE was in the 60s.    I just panic bought as much as I could! 

3486
General Discussion / Re: Who let the DOGEs Out?
« on: September 26, 2014, 04:53:14 pm »
The DOGE rally started with the AuxPoW announcement.  It was in a very severe bear market where it lost over 95% of its value, and then finally broke the downtrend. 

I actually made two DOGE trades this month that allowed me to get some more BTSX.  I bought it at 40 when it first broke the downtrend line, and rode it from 40 to 90, then bought again at 63 and sold this morning at 110.    I found DOGE to be REALLY easy to trade, because its community is so inexperienced at trading.  They are so predictable!  I might have sold too early at 110, but I wanted to make sure I could get as much BTSX as possible, because it looks like it might have begun moving up again. 


Everyone is saying now that DOGE is rallying because of paypal news, but I think that really it is rallying because it broke its eternal downtrend, and it is getting close to the end of its hyperinflation period.   Pretty soon DOGE is going to have less inflation than Bitcoin!  (Until bitcoin halves again). 

3487
General Discussion / Re: NuBits
« on: September 25, 2014, 05:33:56 pm »
Quote
I do wonder what happens if the market has high demand for "pegged" BitAssets, but low demand for "unpegged" BitsharesX. That's a topic for another thread, though.

What happens is that due to the magical power of free market forces, BitsharesX gains more demand and increases in price!  Our system works! :D   

3488

Does that answer you question?  I understand that the community is working hard on BitsharesX right now.  But is the plan to make a succession of competitors?  If so, the future of BitsharesX looks bleak compared to Bitcoin...

The plan is not to make competitors to Bitshares X. 

The new DACs that are under development, which you will get shares of if you own PTS, serve very different purposes:  Bitshares DNS, Bitshares Vote, Bitshares Music, etc.  They are not competitors to BitsharesX. 

These other projects are being worked on by other people than the core dev team of Bitshares X.  (I think?)


To summarize:
Bitshares X is the stock market and derivative exchange DAC.  It is being worked on very hard by the dev  team.  If you want it, you need to buy BTSX.

Other DACs are being worked on as well, which do not compete with Bitshares, but instead serve other functions.  If you want in on these, you buy PTS.

3489
General Discussion / Why is delegate participation rate dropping right now?
« on: September 25, 2014, 01:05:39 am »
At http://www.bitsharesblocks.com/home

Delegate participation rate is down to 18% and falling.  Whats going on?

3490

Backend is most important because that will allow me to run bots.

Any idea on the timeframe on releasing these bots?  Having bots doing market making in bitUSD will be HUGE.

3491
I don't think we need more assets as much as we need to get to the point where the assets that do exist have higher volume, lower spread, and are strongly pegged to their respective items.

We just need bitUSD, at a market cap in the millions, and a price keeping to a range of .99 to 1.01, and then we have something very powerful. 

3492
General Discussion / Re: How many BTSX have been burned as dividends so far?
« on: September 24, 2014, 10:11:44 pm »
Thanks Bytemaster!

(Its pretty cool that one can ask a question and get a response from the developer.  Feels like its 2009 and I'm getting a reply from Satoshi.  We are still very early in the game!)



So the distributed autonomous corporation of BisharesX has just begun, and its already making a profit!    You can't say that for most startups. :)

3493
Technical Support / Re: !!! Stupid Questions Thread !!!
« on: September 24, 2014, 09:59:02 pm »
Thanks for the explanation Tony.

I love how bitshares uses the free market to control how its mechanisms work. 

3494
General Discussion / Re: NuBits
« on: September 24, 2014, 09:55:15 pm »

An instant revaluation?  Then bitassets go to 0 value.  A slow fall toward 0 over a month?  Then shorts will have covered and bitusd holders would have sold for usd.

That is somewhat concerning, given that over its history bitcoin has had a few flash crashes where it lost a huge portion of it value instantly.

Are there any mechanisms in place that could help maintain order in a scenario like this?  Perhaps the delegates wouldnt all update feed prices to represent the flash crash, and things could proceed more orderly?


3495
Had you two been around during the 200 days of AGS funding, you may have obsessively, compulsively, ended up 100% in BitShares  8)

I wish. :)

It looks like you guys got into bitshares for under a penny!  I only get to be in the second wave of adopters.

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