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Messages - Empirical1

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106
General Discussion / Re: BTSX takes aim: NXT is next!
« on: August 20, 2014, 10:39:30 pm »
NXT has had very little buying demand on the exchanges since the bter thing. I think they're in a lot of trouble short term anyway, looks like they're trying to maintain a floor at 0.000065. https://bter.com/trade/nxt_btc  So no.4 spot will be easy

I wouldn't be surprised to see no.3 very soon actually  :)

107
General Discussion / Re: Dry Run 17: Teenage Mutant Ninja Blockchains
« on: August 20, 2014, 10:18:52 pm »
Alt has earned some significant BitUSD from the prior run, I think everyone owes him a +1....  Keep testing like your investment depends upon it.

 +5% Alt, thank you very much!

As someone said in another thread - I am very happy & grateful your are on our side :)

108
Best ask at 0.0000252 BTC/BTSX on BTC38;
Best ask at 0.00002575 BTC/BTSX on BTER;

 :)

Bitshares can easily get a billion dollar market cap. Auroracoin managed to do it and so did Ripple

Each share months from now should be worth 50cents -> $1 range. The fact that they are going for a few cent a piece is an opportunity of a lifetime.

Aurora and Ripple had fake billion dollar valuations imo but yes I agree, BitAssets could get us there easily.

Edit: I mean easily in a short space of time. BitAssets are much bigger than that.

Bitcoin just served as a prelude for BTSX & BitAssets imo.


109
General Discussion / Re: is this bitUSD?
« on: August 20, 2014, 05:12:56 pm »
It's obviously not real USD so it isn't going to have any legal problems.

Yes it should be fine because BitUSD is very different.
However in this particular case I wasn't sure it was worth the short term risk of there being any confusion.

We've already seen how two small communities can politicise the word 'partnership' in a couple of days.

110
General Discussion / Re: is this bitUSD?
« on: August 20, 2014, 04:17:23 pm »
This isn't done on other exchanges. When buying/selling BTC, LTC, BTSX, etc. on BTER or other exchanges you aren't actually trading those coins. You're trading bterBTC, bterLTC, etc. Nothing hits the blockchain until you withdraw. I feel USD falls under the logic.

I'm more worried about using the letters USD from a legal standpoint.

Edit: As in I'm happy creating BitUSD is fine, I'm not so sure about creating 'USD'

111
General Discussion / Re: is this bitUSD?
« on: August 20, 2014, 04:11:43 pm »
Looks cool.

My concern is whether using the direct abbreviation USD is OK?

I agree, it needs to say BitUSD with a link to in-depth explanation

I was expecting a 'Bit'/'b' included somehow as you're suggesting.

I do like sschechter's idea of at least a  symbol though to differentiate BitUSD from USD.




112
General Discussion / Re: BitSharesX - Before the Storm
« on: August 20, 2014, 04:00:25 pm »
'Before the Storm' - that brings oxygen to the planet  :)

Turning on BitAssets...

http://www.reelz.com/trailer-clips/44903/total-recall-clip




113
General Discussion / Re: is this bitUSD?
« on: August 20, 2014, 03:39:32 pm »
Looks cool.

My concern is whether using the direct abbreviation USD is OK?


114
General Discussion / Re: General Name for BitSharesX
« on: August 20, 2014, 02:15:47 am »
It's less the point of what it is, and more the point of what it's about. Ie The stock market is about stocks; the bond market is about bonds; the futures market is about futures, derivatives, options; the forex market is about currencies.

Is the BitSharesX market about BitAssets?  Should it be called a BitAsset Market?


Sent from my iPhone using Tapatalk

On the same theme as mirror, I've got 'chameleon market'

But yes, I think the most likely outcome is just 'A BitAsset Market'
& just like you have to learn what a stock/bond is you have to learn what a BitAsset is.


115
General Discussion / Re: BitUSD Trading Guide
« on: August 19, 2014, 10:44:12 pm »
Quote
I think once the system has proved robust, it has more utility, it's other advantages,  as well as if traditional banking risk factors increase. A BitUSD may be worth more than a normal USD to me.

Is that irrational. Is that not how it works?

These factors are irrelevant to the consensus... Initially shorts will probably be paying interest (by having BitUSD available at a discount) to attract new people (like yourself) to hold BitUSD.   However, everyone who recognizes the opportunity to buy BitUSD cheap can get some free gains when it returns to mean.   Provided it returns to the mean faster than BTSX climbs in value.

Thanks for the explanation, sure you're right. It still seems in my head that even though you can seed it with a consensus of 1-1, the actual consensus could form around what is a BitUSD worth relative to a $, that will find a mean but not necessarily 1-1.

We will see. The whole thing depends upon robust participation. If we build it, will they come? Hopefully, the marketing is about to kick into high gear. I actually feel more confident now than ever before, given the participation and success thus far with BitShares X. Even with limited features (without the assets that soon will be added), it really is a fine product, and I think a lot of people are discovering that now. And yet, we are going to need more participation. Near the beginning, there should be some exciting volatility, but I expect that to stabilize as it grows. Let's hope, if interest does start to flag at any point, new asset classes (toys) can be added to keep the game rolling. I can see proxies for gold, platinum, silver, oil, and all the agricultural commodity classes as well as the currencies.

The other thing we are going to need is merchants and services who accept BitUSD. Or BTSX. Or BitGLD. Or one or all.

I think it will be amazing! History in the making!

Even if what I think could happen, happens, it just means BitAssets will trade 1-2% below the peg in the beginning but as it grows and matures, the reverse could happen and I expect BitAssets could trade/have their long term mean 1-2% above the peg.

116
General Discussion / Re: Ethereum & BitShares Partnership?
« on: August 19, 2014, 10:35:05 pm »
I think this is making a mountain out of a molehill...
Let's keep some perspective here :).

 +5%


117
General Discussion / Re: General Name for BitSharesX
« on: August 19, 2014, 07:35:30 pm »
A mirror market?

118
General Discussion / Re: memo issue?
« on: August 19, 2014, 05:11:24 pm »
Did you send it to the right BTSX poloniex account name but you just got the memo wrong?

(If you sent it to the right account name but just got the memo wrong then surely poloniex has it, it's just  a hassle for them to find it and link it to your account, but they can do it.)

119
General Discussion / Re: BM Black Swan insurance fund proposal
« on: August 19, 2014, 04:52:50 pm »
Has this insurance fund proposal been implemented?

All BitUSD fees collected by network are saved and used in the event that a short runs out of collateral.   If the fees are not enough then the fund will go negative and will slowly pay it back over time.

 +5% Great.

120
General Discussion / Re: BitUSD Trading Guide
« on: August 19, 2014, 04:46:38 pm »
Quote
I think once the system has proved robust, it has more utility, it's other advantages,  as well as if traditional banking risk factors increase. A BitUSD may be worth more than a normal USD to me.

Is that irrational. Is that not how it works?

These factors are irrelevant to the consensus... Initially shorts will probably be paying interest (by having BitUSD available at a discount) to attract new people (like yourself) to hold BitUSD.   However, everyone who recognizes the opportunity to buy BitUSD cheap can get some free gains when it returns to mean.   Provided it returns to the mean faster than BTSX climbs in value.

Thanks for the explanation, sure you're right. It still seems in my head that even though you can seed it with a consensus of 1-1, the actual consensus could form around what is a BitUSD worth relative to a $, that will find a mean but not necessarily 1-1. 


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