Author Topic: On The Importance of Bit.GOLD  (Read 588 times)

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Offline armin

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Re: On The Importance of Bit.GOLD
« Reply #15 on: September 28, 2018, 01:05:47 pm »
@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

Offline Thul3

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Re: On The Importance of Bit.GOLD
« Reply #16 on: September 28, 2018, 03:30:14 pm »
Gold is a very manipulated market expecially because of the future role of gold.

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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

I understood it correctly and bench already replied to your question

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To generate more bitGold somebody needs to borrow bitGold and sell it?

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

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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).


Since bitgold is being traded wouldn't it make sense to add a trading fee which moves directly to the collateral/settlement pool ?
« Last Edit: September 28, 2018, 03:32:37 pm by Thul3 »

Offline armin

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Re: On The Importance of Bit.GOLD
« Reply #17 on: September 28, 2018, 03:43:21 pm »
Ah, so you're saying because it is preferable to be long gold, then less people are willing to short it? HMM... interesting answer