Author Topic: Does it make sense to cultivate bitEUR?  (Read 542 times)

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Online bitcrab

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Does it make sense to cultivate bitEUR?
« on: May 15, 2019, 03:10:56 pm »
actually I am always confused that we have a lot of members come from Europe, Europe community is an important community for BTS, but why bitEUR hasn't grown up?

do we really need bitEUR?

as bitCNY and bitUSD has been updated settings, if we need bitEUR to grow up and provide enough supply to users, we need also to set bitEUR parameters as bitUSD:

MSSR:1.02
MCR: 1.6
market fee: 0.04%

but before doing that, we need to answer the above questions.

any thoughts from Europe community? 

Offline Thul3

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Re: Does it make sense to cultivate bitEUR?
« Reply #1 on: May 15, 2019, 03:21:09 pm »
Paramaters are not important on biteur.I would love to go in debt in biteur as its the currently most overrated currency and one of the 3 world currencies which will stay,
but there are no BTS sold at market price which you could buy for biteur.
Since there are no BTS sold at market price people are settling BitEUR to get BTS at feed price which makes that debt gets liquidiated and the median CR pushed up heavily.
To get liquidity there you would first need to make sure people can buy BTS at market price.
« Last Edit: May 15, 2019, 03:28:35 pm by Thul3 »

Offline xeroc

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Re: Does it make sense to cultivate bitEUR?
« Reply #2 on: May 16, 2019, 01:56:34 pm »
The usual chick&egg problem.
No one selling bitEUR, but also no use-case for bitEUR (other than a few worker proposals).
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Online yamtt

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Re: Does it make sense to cultivate bitEUR?
« Reply #3 on: May 16, 2019, 02:19:29 pm »
We should treat everyone equally

Online bitcrab

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Re: Does it make sense to cultivate bitEUR?
« Reply #4 on: May 19, 2019, 03:14:07 pm »
The usual chick&egg problem.
No one selling bitEUR, but also no use-case for bitEUR (other than a few worker proposals).

if necessary, there are several ways to make liquidity. the problem is:

is it possible and helpful for bitEUR to connect BTS and EURO fiat?

does European people think it's enough to have USD-pegged stable coin in the cryptocurrency world, no need to have EURO pegged stable coin?

Offline Digital Lucifer

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Re: Does it make sense to cultivate bitEUR?
« Reply #5 on: May 19, 2019, 06:10:59 pm »
The usual chick&egg problem.
No one selling bitEUR, but also no use-case for bitEUR (other than a few worker proposals).

if necessary, there are several ways to make liquidity. the problem is:

is it possible and helpful for bitEUR to connect BTS and EURO fiat?

does European people think it's enough to have USD-pegged stable coin in the cryptocurrency world, no need to have EURO pegged stable coin?

Coinbase Pro and others are trading significant amounts of money in EUR to be, let's say demand for stable EUR. We are not having liquidity/markets/fiat gateway for it yet...

I would be supportive towards more activity/existence on it.

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