Author Topic: Did any news just happen?  (Read 7778 times)

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Offline RenaudGagne

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Downward pressure in BTC for tax loss harvesting. :-) Probably going to help other crypto.

Offline cn-members

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how is btc38 going to sell the bitCNY at the peg? with BitUSD you can't sell at the peg at any time reliably. Only when shorts expire, and market bids for bitUSD are placed at the peg.

BTC38 sell BitCNY to www.tradebts.com directly in exchange for 1:1 fiat at anytime.
So your question would be about www.tradebts.com .

www.tradebts.com absorb the peg risk by themselves .
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Offline ag

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how is btc38 going to sell the bitCNY at the peg? with BitUSD you can't sell at the peg at any time reliably. Only when shorts expire, and market bids for bitUSD are placed at the peg.

Offline Gentso1

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Can someone translate this page?
http://www.btc38.com/general/5291.html

It would be a great link to send out to other exchanges (with translation in the email) to ask them to do the same thing.

It's weekend , maybe wait until next week .
Also , I doubt other exchange can copy the same thing , because it requires a 1:1 FIAT-BTA service like www.tradebts.com , BTC38 is working with such a service , BTC38 gets BitCNY then forward to www.tradebts.com , after which www.tradebts.com would send fiat money to BTC38 .

Maybe bter could work with tradebts.com too?  Or any Chinese exchange that allows deposit of CNY.  btcchina etc, all the Chinese exchanges.  Translation isn't needed for them though of course, but maybe an equivalent service to tradebts.com could be set up in other countries for bitUSD + other bitassets, then exchanges in those countries could accept bitUSD in the same way.

Bter maybe following the path , I'm not sure .
The main point for that notice :
1. BitCNY <1:1>  BTC38-CNY
2. set a limit for every user and daily volume to control the risk .
3. tradebts.com also set  a daily volume to control the risk .

Can you tell use what the daily limit for volume is for for tradebts.com is?

Offline btswildpig

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Can someone translate this page?
http://www.btc38.com/general/5291.html

It would be a great link to send out to other exchanges (with translation in the email) to ask them to do the same thing.

It's weekend , maybe wait until next week .
Also , I doubt other exchange can copy the same thing , because it requires a 1:1 FIAT-BTA service like www.tradebts.com , BTC38 is working with such a service , BTC38 gets BitCNY then forward to www.tradebts.com , after which www.tradebts.com would send fiat money to BTC38 .

Maybe bter could work with tradebts.com too?  Or any Chinese exchange that allows deposit of CNY.  btcchina etc, all the Chinese exchanges.  Translation isn't needed for them though of course, but maybe an equivalent service to tradebts.com could be set up in other countries for bitUSD + other bitassets, then exchanges in those countries could accept bitUSD in the same way.

Bter maybe following the path , I'm not sure .
The main point for that notice :
1. BitCNY <1:1>  BTC38-CNY
2. set a limit for every user and daily volume to control the risk .
3. tradebts.com also set  a daily volume to control the risk .
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline monsterer

Maybe bter could work with tradebts.com too?  Or any Chinese exchange that allows deposit of CNY.  btcchina etc, all the Chinese exchanges.  Translation isn't needed for them though of course, but maybe an equivalent service to tradebts.com could be set up in other countries for bitUSD + other bitassets, then exchanges in those countries could accept bitUSD in the same way.

I don't know about china, but obv the limiting factor in the US/UK is finding a bank which wont close you down and getting signed up with whatever AML procedures the local government has.
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Offline matt608

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Can someone translate this page?
http://www.btc38.com/general/5291.html

It would be a great link to send out to other exchanges (with translation in the email) to ask them to do the same thing.

It's weekend , maybe wait until next week .
Also , I doubt other exchange can copy the same thing , because it requires a 1:1 FIAT-BTA service like www.tradebts.com , BTC38 is working with such a service , BTC38 gets BitCNY then forward to www.tradebts.com , after which www.tradebts.com would send fiat money to BTC38 .

Maybe bter could work with tradebts.com too?  Or any Chinese exchange that allows deposit of CNY.  btcchina etc, all the Chinese exchanges.  Translation isn't needed for them though of course, but maybe an equivalent service to tradebts.com could be set up in other countries for bitUSD + other bitassets, then exchanges in those countries could accept bitUSD in the same way.

Offline cn-members

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Can someone translate this page?
http://www.btc38.com/general/5291.html

It would be a great link to send out to other exchanges (with translation in the email) to ask them to do the same thing.

It's weekend , maybe wait until next week .
Also , I doubt other exchange can copy the same thing , because it requires a 1:1 FIAT-BTA service like www.tradebts.com , BTC38 is working with such a service , BTC38 gets BitCNY then forward to www.tradebts.com , after which www.tradebts.com would send fiat money to BTC38 .
BTS中文区发言人公共账号,帮助社区有效沟通与交流。
Chinese Community Spokesman Account,to help the effective communication between Chinese and other members of the community.We're not translators to do regular translations , but will help with vital ones as we see fit and available at that time.

Offline Empirical1.1

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Upward pressure on bitUSD peg due to Chinese demand?

Doubt it. Probably someone trying to hedge because of the bug yesterday, expecting BTS price to fall.
The BitCNY announcement, thanks to Gulu, BTC38 and the Chinese Marketing team is so positive luckily it looks like it's cancelled that negative out & then some.

(That's what good marketing events/announcements do, unlike our release of BitShares.org which sent BTS down 10% that day...)

Edit: Ok, I see CMC says $1.18, yeah that must be wrong.
« Last Edit: December 12, 2014, 12:59:33 pm by Empirical1.1 »

Offline kisa

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Upward pressure on bitUSD peg due to Chinese demand or is it an update/feed issue with coinmarketcap?
« Last Edit: December 12, 2014, 12:43:04 pm by kisa »

Offline muse-umum

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bitCNY is now equal to CNY, 1:1. Great news +5% +5% +5% +5%

Perhaps we should give whoever behind this to make this deal with btc38 happened a paid delegate position, just as a bonus.

I also agree that this kind of marketing is the best. FYI, the honor belongs to Chinese marketing team. Let's see whether there will be bitUSD trade platform or not. +5% +5%

FYI.
https://bitsharestalk.org/index.php?topic=12203.msg161195#msg161195

Offline Empirical1.1

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bitCNY is now equal to CNY, 1:1. Great news +5% +5% +5% +5%

Perhaps we should give whoever behind this to make this deal with btc38 happened a paid delegate position, just as a bonus.

I also agree that this kind of marketing is the best. FYI, the honor belongs to Chinese marketing team. Let's see whether there will be bitUSD trade platform or not. +5% +5%

 +5%  +5%  Thank you Chinese marketing team!

Offline matt608

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Can someone translate this page?
http://www.btc38.com/general/5291.html

It would be a great link to send out to other exchanges (with translation in the email) to ask them to do the same thing.
« Last Edit: December 12, 2014, 11:27:31 am by matt608 »

Offline mbaeichapareiko

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Good job to our Chinese partners.  Keep up the good work!

Offline merlin0113

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No, I believe btc38 don't hold bitcny, at least for now. They will have bitcny changed into cny through tradebts.com (a counterparty to bitpay) right away.

Thats great, this basically means we have bitpay for BTS now.

terrific!

Offline Ander

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No, I believe btc38 don't hold bitcny, at least for now. They will have bitcny changed into cny through tradebts.com (a counterparty to bitpay) right away.

Thats great, this basically means we have bitpay for BTS now.
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Offline merlin0113

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Thats very interesting.  They are essentially accepting it just like it was regular CNY.

Which is exactly what we want merchants to do - accept a bitasset as identical to the normal currency.

No, I believe btc38 don't hold bitcny, at least for now. They will have bitcny changed into cny through tradebts.com (a counterparty to bitpay) right away.

Offline Ander

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Thats very interesting.  They are essentially accepting it just like it was regular CNY.

Which is exactly what we want merchants to do - accept a bitasset as identical to the normal currency.
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Offline btswildpig

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would be cool if btc38 could pass on interest on their bitcny customer deposits somehow

BTC38 will not provide CNY-BITCNY trading pairs .
If you deposit BITCNY in BTC38 , you'll get CNY fiat balance , the BITCNY will belong to BTC38 .
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline ag

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would be cool if btc38 could pass on interest on their bitcny customer deposits somehow

Offline ripplexiaoshan

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bitCNY is now equal to CNY, 1:1. Great news +5% +5% +5% +5%

Perhaps we should give whoever behind this to make this deal with btc38 happened a paid delegate position, just as a bonus.

I also agree that this kind of marketing is the best. FYI, the honor belongs to Chinese marketing team. Let's see whether there will be bitUSD trade platform or not. +5% +5%
BTS committee member:jademont

Offline Ander

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Lol, coinmarketcap still hasnt updated.
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Offline merlin0113

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WHoever made this deal is the best marketing we have ever had.


The bitCNY peg will be REAL now.

THIS

Offline Ander

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WHoever made this deal is the best marketing we have ever had.


The bitCNY peg will be REAL now.
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Offline merlin0113

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bitCNY is now equal to CNY, 1:1. Great news +5% +5% +5% +5%

Perhaps we should give whoever behind this to make this deal with btc38 happened a paid delegate position, just as a bonus.

Offline ripplexiaoshan

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bitCNY is now equal to CNY, 1:1. Great news +5% +5% +5% +5%
BTS committee member:jademont

Offline Ander

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Offline Ander

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I strongly recommend you guys cancell sell order ASAP and have a nice ride, LOL

Have no sell orders, and not going to sell any. :)
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Offline Riverhead

It's up 16% on BTC38


Offline merlin0113

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I strongly recommend you guys cancell sell order ASAP and have a nice ride, LOL

Offline Ander

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Yes, THE news is btc38 just announced it's approval of bitcny deposit.

Where is the announcement?

Thats HUGE.
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Offline merlin0113

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Yes, THE news is btc38 just announced it's approval of bitcny deposit.

Offline Ander

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Its up 10%, coinmarketcap updates slowly.
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Offline Riverhead

I'm seeing about a 4% increase to $40MM market cap. Is that what you're seeing?

Offline Ander

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Looks like the btc dump was a bear trap, its going up now, BTS continuing to go up. :)
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Offline Ander

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I just saw BTC and NSR take a dive and BTS rocket all at the same time.    Was amazing!
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