Main > General Discussion
BitUSD as collateral
speedy:
Awesome :)
I really like your preference of taking longer to develop a well thought out & more complete product rather than rushing it. Despite there being some whiners on the forums who want everything now.
bytemaster:
--- Quote from: trader on March 23, 2014, 03:54:40 am ---
--- Quote from: bytemaster on March 23, 2014, 03:49:41 am ---That is supported in the first chain.
--- End quote ---
Wahoo - Bitshares X is going to be useful for so many people :)
Sorry if this has been addressed before, but if I swap some BitUSD for BitGold, but I dont have any BTS to pay the transaction fee, do I pay the transaction fee out of the assets instead? Or am I always required to have at least some BTS to swap the BitAssets directly?
--- End quote ---
With the renewed focus on incremental development of BTS X, I will support fees paid in any currency. Lets do this right rather than hacking something.
speedy:
--- Quote from: bytemaster on March 23, 2014, 03:49:41 am ---That is supported in the first chain.
--- End quote ---
Wahoo - Bitshares X is going to be useful for so many people :)
Sorry if this has been addressed before, but if I swap some BitUSD for BitGold, but I dont have any BTS to pay the transaction fee, do I pay the transaction fee out of the assets instead? Or am I always required to have at least some BTS to swap the BitAssets directly?
bytemaster:
--- Quote from: trader on March 23, 2014, 03:48:43 am ---
--- Quote from: bytemaster on March 04, 2014, 07:43:17 am ---Holding BitUSD is never subject to margin calls... only being Short BitUSD.
I think that using BitUSD as collateral makes perfect sense for future systems.
--- End quote ---
Even if we couldnt do shorting BitUSD against BitGold immediately, it would still be great if we could at least directly swap BitUSD for BitGold using the buy & sell operations in the first BTS chain. IMO it seems like this would go a long way to reinforcing the value of the BitAssets and thereby helping the peg to function, because it would create arbitrage opportunities.
Being able to trade USD for Gold without the huge fees that holding companies charge would be awesome. :D
--- End quote ---
That is supported in the first chain.
speedy:
--- Quote from: bytemaster on March 04, 2014, 07:43:17 am ---Holding BitUSD is never subject to margin calls... only being Short BitUSD.
I think that using BitUSD as collateral makes perfect sense for future systems.
--- End quote ---
Even if we couldnt do shorting BitUSD against BitGold immediately, it would still be great if we could at least directly swap BitUSD for BitGold using the buy & sell operations in the first BTS chain. IMO it seems like this would go a long way to reinforcing the value of the BitAssets and thereby helping the peg to function, because it would create arbitrage opportunities.
Being able to trade USD for gold without the huge fees that gold holding companies charge would be awesome. :D
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