Wow  8)
BitUSD is $0.99 now  8)

I cashed some BTSX into BitUSD now I just need a place to spend it or wait for BTSX to drop so I can buy some with BitUSD and make profit.

Can't really save in BitUSD as it doesn't offer interest either.

Which is pretty good considering the market isn't very old. As more people come on board performing arbitrage that will go even closer to parity.

BitUSD is about $0.95
I think we need more speculator playing this game right now.

Quote from: Agent86 on August 27, 2014, 03:04:06 AM

Quote from: toast on August 27, 2014, 02:16:41 AM

Quote from: Agent86 on August 27, 2014, 01:42:14 AM

Quote from: toast on August 27, 2014, 01:34:48 AM
So? These are people who would still short at a dollar. They have to pay more so there would be some percentage fewer usd but they would still be selling and pushing the bids down. Why would it suddenly track?

Sent from my SCH-I535 using Tapatalk

Well if they're shorting at a dollar then the price of bitUSD is now a dollar (what we want)

It costs a dollar to buy but you cannot sell it for a dollar. Having the shorts who are shorting undervalued now pay 10% more to take those shorts would not make them all want to stop taking out shorts and trying to find people to buy it. I think the order book would look almost the same except near the lowest asks it would be just asks instead of asks mixed with shorts, and there would be *only slightly* less selling overall - in proportion to the effective fee they're paying

I think you're wrong. Skype me.

I think anyone who cares about BTSX should NOT short bitUSD right now (at least not WELL below dollar value).

Bolded is the statement that I can agree with (especially well below dollar value).
And I do care about BTSX, and I am probably more bullish on BTSX than such reckless bulls.

Quote from: toast on August 27, 2014, 02:16:41 AM

Quote from: Agent86 on August 27, 2014, 01:42:14 AM

Quote from: toast on August 27, 2014, 01:34:48 AM
So? These are people who would still short at a dollar. They have to pay more so there would be some percentage fewer usd but they would still be selling and pushing the bids down. Why would it suddenly track?

Sent from my SCH-I535 using Tapatalk

Well if they're shorting at a dollar then the price of bitUSD is now a dollar (what we want)

It costs a dollar to buy but you cannot sell it for a dollar. Having the shorts who are shorting undervalued now pay 10% more to take those shorts would not make them all want to stop taking out shorts and trying to find people to buy it. I think the order book would look almost the same except near the lowest asks it would be just asks instead of asks mixed with shorts, and there would be *only slightly* less selling overall - in proportion to the effective fee they're paying

I think you're wrong. Skype me.

I think anyone who cares about BTSX should NOT short bitUSD right now (at least not below dollar value).

Quote from: jae208 on August 27, 2014, 02:41:44 AM

Quote from: GaltReport on August 27, 2014, 02:32:33 AM

Quote from: jae208 on August 27, 2014, 02:30:34 AM

Quote from: donkeypong on August 27, 2014, 02:22:19 AM
Give the market time to develop. Most of the people who are using it right now were hot on BTSX. What we need to do is promote the heck out of BitUSD and find ways for people to spend it, etc.

Real quick I know that this particular instance of BitUSD doesn't offer +5% but does anyone know when BitUSD will offer +5%?

BTW BitUSD is worth about $0.90 right now shouldn't people be buying it up right now since it is 'cheap'

Also, why would people be shorting right now when it seems to make more sense to buy BitUSD right now?

What Donkey said, most of the people are (super) bullish on BTSX.  The simple accurate reason.

Right, but value of BTSX is currently going down..

Right but maybe they have a long-term view.

Quote from: GaltReport on August 27, 2014, 02:32:33 AM

Quote from: jae208 on August 27, 2014, 02:30:34 AM

Quote from: donkeypong on August 27, 2014, 02:22:19 AM
Give the market time to develop. Most of the people who are using it right now were hot on BTSX. What we need to do is promote the heck out of BitUSD and find ways for people to spend it, etc.

Real quick I know that this particular instance of BitUSD doesn't offer +5% but does anyone know when BitUSD will offer +5%?

BTW BitUSD is worth about $0.90 right now shouldn't people be buying it up right now since it is 'cheap'

Also, why would people be shorting right now when it seems to make more sense to buy BitUSD right now?

What Donkey said, most of the people are (super) bullish on BTSX.  The simple accurate reason.

Right, but value of BTSX is currently going down..

Quote from: jae208 on August 27, 2014, 02:30:34 AM

Quote from: donkeypong on August 27, 2014, 02:22:19 AM
Give the market time to develop. Most of the people who are using it right now were hot on BTSX. What we need to do is promote the heck out of BitUSD and find ways for people to spend it, etc.

Real quick I know that this particular instance of BitUSD doesn't offer +5% but does anyone know when BitUSD will offer +5%?

BTW BitUSD is worth about $0.90 right now shouldn't people be buying it up right now since it is 'cheap'

Also, why would people be shorting right now when it seems to make more sense to buy BitUSD right now?

What Donkey said, most of the people are (super) bullish on BTSX.  The simple accurate reason.

Arbitrage is already getting tighter.  Stop jumping the gun.  It's working.

Quote from: Agent86 on August 27, 2014, 01:27:50 AM

Quote from: TheOnion on August 27, 2014, 01:16:19 AM
I do not know if I am purist or not but:

Trading bitUSD based on feeds is just plan B, in case the true market does not work.

It is still based on market forces, the only thing I am changing is that you can't issue new bitUSD (short it into existance) at a price below the actual value of a dollar.  It makes no sense for us to issue more bitUSD when there is an abundance that is pushes the price below parity.  Without feeds it doesn't work.  And the price feeds are designed in a very good way so they are very difficult to manipulate.

Excuse me, this is simply not true - one can not issue bitUSD without a buyer!
So, WE are not issuing them, the market is!
So let's stop this 'unreasonable market'

Quote from: donkeypong on August 27, 2014, 02:22:19 AM
Give the market time to develop. Most of the people who are using it right now were hot on BTSX. What we need to do is promote the heck out of BitUSD and find ways for people to spend it, etc.

Real quick I know that this particular instance of BitUSD doesn't offer +5% but does anyone know when BitUSD will offer +5%?

BTW BitUSD is worth about $0.90 right now shouldn't people be buying it up right now since it is 'cheap'

Also, why would people be shorting right now when it seems to make more sense to buy BitUSD right now?





*I'm buying BitUSD right now and it is about $0.92 now. 

Quote from: donkeypong on August 27, 2014, 02:22:19 AM
Give the market time to develop. Most of the people who are using it right now were hot on BTSX. What we need to do is promote the heck out of BitUSD and find ways for people to spend it, etc.

+5%

Give the market time to develop. Most of the people who are using it right now were hot on BTSX. What we need to do is promote the heck out of BitUSD and find ways for people to spend it, etc.

Quote from: Agent86 on August 27, 2014, 01:42:14 AM

Quote from: toast on August 27, 2014, 01:34:48 AM
So? These are people who would still short at a dollar. They have to pay more so there would be some percentage fewer usd but they would still be selling and pushing the bids down. Why would it suddenly track?

Sent from my SCH-I535 using Tapatalk

Well if they're shorting at a dollar then the price of bitUSD is now a dollar (what we want)

It costs a dollar to buy but you cannot sell it for a dollar. Having the shorts who are shorting undervalued now pay 10% more to take those shorts would not make them all want to stop taking out shorts and trying to find people to buy it. I think the order book would look almost the same except near the lowest asks it would be just asks instead of asks mixed with shorts, and there would be *only slightly* less selling overall - in proportion to the effective fee they're paying

Quote from: Agent86 on August 27, 2014, 01:07:32 AM
I know the "purists" don't like it, but we need to use the price feeds guys.  We need to use the median price feed as a floor for new issuance.  Without the price feeds it doesn't work!

Sounds like a great idea! The ends justify the means..