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On The Importance of Bit.GOLD

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armin:
Ah, so you're saying because it is preferable to be long gold, then less people are willing to short it? HMM... interesting answer

Thul3:
Gold is a very manipulated market expecially because of the future role of gold.


--- Quote ---I said it incorrectly @thul3. I meant we need to increase liquidity on Bit.GOLD so that when people want to be short crypto they can escape to Bit.GOLD. Holding Bit.GOLD is better than bitFIAT since it is not depreciating
--- End quote ---

I understood it correctly and bench already replied to your question


--- Quote ---To generate more bitGold somebody needs to borrow bitGold and sell it?
--- End quote ---

Now the question who would prefer to short bitgold instead of bitfiat ?


--- Quote ---http://cryptofresh.com/a/GOLD

Settlement price is 4,753 BTS/GOLD, that's the exact amount of available backing collateral per bitGOLD.
However, market price is around 10,000 BTS/bitGOLD with a significant spread (highest buy is offering more than 9,500 BTS).
--- End quote ---


Since bitgold is being traded wouldn't it make sense to add a trading fee which moves directly to the collateral/settlement pool ?

armin:
@pc I don't get your point the CER is currently 8600 and settlement price is 10300 for bitGOLD.

Also btw nobody has actually discussed my original point, why bitGOLD is more useful than bitFIAT when taking a short position on the crypto market. Please give your opinions

R:

--- Quote from: binggo on September 28, 2018, 11:39:01 am ---MCR is not the key point, how to solve the black swan is the main problem.

BSIP 18 can't solve the black swan，we need other good way to solve the black swan, let the black swan will never happen.

--- End quote ---
BSIP 18 does offer the ability to resolve global settlement aka 'black swan'. Just follow its steps and it'll reactivate.

binggo:
MCR is not the key point, how to solve the black swan is the main problem.

BSIP 18 can't solve the black swan，we need other good way to solve the black swan, let the black swan will never happen.

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