Quote from: starspirit on April 29, 2015, 11:40:31 PM
Why isn't it possible to back a bitAsset like bitGold with bitUSD?

Quote from: bytemaster on April 28, 2015, 09:18:57 PM

Quote from: bitmarley on April 28, 2015, 09:07:31 PM
Another reason is that normally in finance someone who wants to go short GOLD means they want to profit when GOLD falls versus the USD. But in BitShares shorting the bitGOLD(i.e. GOLD/BTS) and does not give the same kind of exposure. It would be good if there was a way to establish an asset whose "Last Price" was a formula instead of a direct price feed. For example: bitGOLDUSD = GOLD/USD. This is the asset that the wider market really wants. At the moment shorting bitAssets means you increase your long exposure to BTS. So if the market trend for BTS is down nobody wants to short.

Soon you will be able to have BitGOLD backed by BitUSD.

Quote from: Ander on April 29, 2015, 09:06:29 PM

Quote from: mf-tzo on April 29, 2015, 07:38:40 PM

Quote from: bytemaster on April 28, 2015, 09:18:57 PM

Quote from: bitmarley on April 28, 2015, 09:07:31 PM
Another reason is that normally in finance someone who wants to go short GOLD means they want to profit when GOLD falls versus the USD. But in BitShares shorting the bitGOLD(i.e. GOLD/BTS) and does not give the same kind of exposure. It would be good if there was a way to establish an asset whose "Last Price" was a formula instead of a direct price feed. For example: bitGOLDUSD = GOLD/USD. This is the asset that the wider market really wants. At the moment shorting bitAssets means you increase your long exposure to BTS. So if the market trend for BTS is down nobody wants to short.

Soon you will be able to have BitGOLD backed by BitUSD.

I hope that you don't imply that one could create bitGold by shorting BitUSD but rather trade BitGold vs.BitUSD right?

Means trade bitUSD to bitGold. 

BTS is the collateral for the whole system, you cannot create assets without it.

You can already trade bitUSD:bitGold, so I don't think that's what he means.

Quote from: Ander on April 29, 2015, 09:06:29 PM

Quote from: mf-tzo on April 29, 2015, 07:38:40 PM

Quote from: bytemaster on April 28, 2015, 09:18:57 PM

Quote from: bitmarley on April 28, 2015, 09:07:31 PM
Another reason is that normally in finance someone who wants to go short GOLD means they want to profit when GOLD falls versus the USD. But in BitShares shorting the bitGOLD(i.e. GOLD/BTS) and does not give the same kind of exposure. It would be good if there was a way to establish an asset whose "Last Price" was a formula instead of a direct price feed. For example: bitGOLDUSD = GOLD/USD. This is the asset that the wider market really wants. At the moment shorting bitAssets means you increase your long exposure to BTS. So if the market trend for BTS is down nobody wants to short.

Soon you will be able to have BitGOLD backed by BitUSD.

I hope that you don't imply that one could create bitGold by shorting BitUSD but rather trade BitGold vs.BitUSD right?

Means trade bitUSD to bitGold. 

BTS is the collateral for the whole system, you cannot create assets without it.

Why isn't it possible to back a bitAsset like bitGold with bitUSD?

Quote from: mf-tzo on April 29, 2015, 07:38:40 PM

Quote from: bytemaster on April 28, 2015, 09:18:57 PM

Quote from: bitmarley on April 28, 2015, 09:07:31 PM
Another reason is that normally in finance someone who wants to go short GOLD means they want to profit when GOLD falls versus the USD. But in BitShares shorting the bitGOLD(i.e. GOLD/BTS) and does not give the same kind of exposure. It would be good if there was a way to establish an asset whose "Last Price" was a formula instead of a direct price feed. For example: bitGOLDUSD = GOLD/USD. This is the asset that the wider market really wants. At the moment shorting bitAssets means you increase your long exposure to BTS. So if the market trend for BTS is down nobody wants to short.

Soon you will be able to have BitGOLD backed by BitUSD.

I hope that you don't imply that one could create bitGold by shorting BitUSD but rather trade BitGold vs.BitUSD right?

Means trade bitUSD to bitGold. 

BTS is the collateral for the whole system, you cannot create assets without it.

In order to short gold with usd you will need bts as collater to short usd in the first place .. don't you?!!

:P

Quote from: xeroc ¯\_(ツ)_/¯ on April 29, 2015, 08:14:49 PM
Afaik he is talking about shorting GOLD with USD as collateral ..
Is this bad for you?

If that is the case what would be the purpose of BTS? Just the internal token of the exchange like XRP? To me the value of BTS comes from creating bitassets by short selling. If I can short sell a bitasset to create another bitasset then why would I ever need BTS?

I am sure I am again missing something so please elaborate..

Afaik he is talking about shorting GOLD with USD as collateral ..
Is this bad for you?

Quote from: bytemaster on April 28, 2015, 09:18:57 PM

Quote from: bitmarley on April 28, 2015, 09:07:31 PM
Another reason is that normally in finance someone who wants to go short GOLD means they want to profit when GOLD falls versus the USD. But in BitShares shorting the bitGOLD(i.e. GOLD/BTS) and does not give the same kind of exposure. It would be good if there was a way to establish an asset whose "Last Price" was a formula instead of a direct price feed. For example: bitGOLDUSD = GOLD/USD. This is the asset that the wider market really wants. At the moment shorting bitAssets means you increase your long exposure to BTS. So if the market trend for BTS is down nobody wants to short.

Soon you will be able to have BitGOLD backed by BitUSD.

I hope that you don't imply that one could create bitGold by shorting BitUSD but rather trade BitGold vs.BitUSD right?

Quote from: xeroc ¯\_(ツ)_/¯ on April 29, 2015, 06:49:52 AM
I wish I had a clue and could trade like this too  :-\

buy high, sell low, works for me, i think, let me ask ander.

all i know is, avoid any tab that doesn't say buy or sell and use each of those two tabs in equal amounts. if in doubt, consult fontas.

Quote from: Ander on April 29, 2015, 12:28:09 AM
Thats what happened in BTS.  People who have never been on margin before shorted bitUSD because they were bulish on BTS.  But instead BTS went down a lot, and they lost a huge amount of BTS.  So they think "this is bullshit", and they get mad, and they sell all their remaining BTS.

Ask bm if he will change it immediately...

Sent from my ALCATEL ONE TOUCH 997D

Quote from: lil_jay890 on April 29, 2015, 04:03:15 PM

Quote from: yellowecho on April 29, 2015, 03:49:55 PM
I shorted bitUSD ~20 days ago and now I'm losing my ass. :-\  That's probably why no one is shorting.. hell, I might as well just double down my shorts now and give all my BTS away for free at this point.

Ditto... I'm screwed

The 30 day forced short really fucks the shorter.  It's understandable why people are pissed off.. this needs to be fixed immediately.

Quote from: yellowecho on April 29, 2015, 03:49:55 PM
I shorted bitUSD ~20 days ago and now I'm losing my ass. :-\  That's probably why no one is shorting.. hell, I might as well just double down my shorts now and give all my BTS away for free at this point.

Ditto... I'm screwed

I shorted bitUSD ~20 days ago and now I'm losing my ass. :-\  That's probably why no one is shorting.. hell, I might as well just double down my shorts now and give all my BTS away for free at this point.

Quote from: xeroc ¯\_(ツ)_/¯ on April 29, 2015, 12:55:00 PM

basically the yield today comes from the interest that has to be payed by SHORTs

Why do shorts offer to pay a yield? Why not short and offer zero pct? How did the yield get to 5% especially in the current climate where ppl are asking why there aren't enough shorts?