Author Topic: How is the bitUSD peg holding up?  (Read 1772 times)

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Offline Method-X

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Re: How is the bitUSD peg holding up?
« Reply #15 on: August 29, 2014, 12:16:31 am »
So I'm seeing on bter that 1 BitUSD = 0.9999 USD. I'd say things are going very well so far? However, Dan (bytemaster) has been making posts that lead me to believe something isn't going right. What am I overlooking? Is it just that demand for BitUSD is (expectantly) low right now?

merockstar

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Re: How is the bitUSD peg holding up?
« Reply #16 on: August 29, 2014, 12:17:38 am »
So I'm seeing on bter that 1 BitUSD = 0.9999 USD. I'd say things are going very well so far? However, Dan (bytemaster) has been making posts that lead me to believe something isn't going right. What am I overlooking? Is it just that demand for BitUSD is (expectantly) low right now?

he's just involving the community in discussing the contingency plan. bracing for the worst and hoping for the best.

Offline biophil

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Re: How is the bitUSD peg holding up?
« Reply #17 on: August 29, 2014, 12:44:03 am »
So I'm seeing on bter that 1 BitUSD = 0.9999 USD. I'd say things are going very well so far? However, Dan (bytemaster) has been making posts that lead me to believe something isn't going right. What am I overlooking? Is it just that demand for BitUSD is (expectantly) low right now?

I'm not sure why it looks so good on Bter. The peg has been off by 15-20% on the bitshares network every time I've looked. My client has been massively buggy so I haven't been on there a ton. But suffice it to say that bitUSD is selling at a discount to fiatUSD.

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Offline cygnify

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Re: How is the bitUSD peg holding up?
« Reply #18 on: August 29, 2014, 12:57:44 am »
There just isn't much demand for bitUSD atm. Hence the premium for it.
The only reason for this currently in my view is there are no solid other markets yet for bitUSD to be spent on or traded against (bitUSD <-> bitBTC would be one great helper).

In my eyes its going OK so far, more mature markets will help. As well as having more traders (as well as arbitrage opportunities) and less BTSX speculators (perma-bulls it seems) trading the markets.

Offline biophil

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Re: How is the bitUSD peg holding up?
« Reply #19 on: August 29, 2014, 01:04:14 am »
There just isn't much demand for bitUSD atm. Hence the premium for it.
The only reason for this currently in my view is there are no solid other markets yet for bitUSD to be spent on or traded against (bitUSD <-> bitBTC would be one great helper).

In my eyes its going OK so far, more mature markets will help. As well as having more traders (as well as arbitrage opportunities) and less BTSX speculators (perma-bulls it seems) trading the markets.

Yeah, I'm not worried about the 15% discount. Any time people expect short-term rapid growth for BTSX, bitAssets will see a lot of shorting pressure. The price of a bitUSD is a combination of the price of USD and the aggregate expected short-term price movement of BTSX.

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