Author Topic: Is this the time to buy BitUSD?  (Read 1713 times)

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Offline yiminh

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the wallet bug destroyed the market liquidity, to get a margin call in this iliquid market is very unfortunate:(

Offline oldman

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Right now BitUSD is cheap vs USD and we are committed to making updates that will establish the GOAL which is a pegged crypto-asset that doesn't have to trust a 3rd party for reserves.

 +5%. That statement is good enough for me. Unfortunately I have no more fiat to invest, no more bitcoins and I just can't sell any Bitshares at current prices... The bigger problem though is that I can't use the client due to bugs  :(...when is expected the next release?

If anyone is looking for a reason for the recent downtrend in price, this is it. People are not trading and capital is not moving in because the interface is buggy.

Offline yellowecho

I wish I could tell you man.

I majorly fucked myself last night shorting bitUSD because I got confused using the GUI!   ::)  I'm sure I'm not the only one by the looks of some of these orders.  Luckily I haven't quite hit a margin call yet but I've had several close calls. :(
696c6f766562726f776e696573

Offline mf-tzo

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Right now BitUSD is cheap vs USD and we are committed to making updates that will establish the GOAL which is a pegged crypto-asset that doesn't have to trust a 3rd party for reserves.

 +5%. That statement is good enough for me. Unfortunately I have no more fiat to invest, no more bitcoins and I just can't sell any Bitshares at current prices... The bigger problem though is that I can't use the client due to bugs  :(...when is expected the next release?

Offline bytemaster

Right now BitUSD is cheap vs USD and we are committed to making updates that will establish the GOAL which is a pegged crypto-asset that doesn't have to trust a 3rd party for reserves.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline nomoreheroes7

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Well since the time I submitted this post the value of BitUSD has gone up to 38.4 BTSX, which more approximates the current price. Interesting...

Offline nomoreheroes7

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So I'd like to shelter some of my BTSX against the current drop in price, so I'm thinking I would want to buy BitUSD. However, I'm seeing BitUSD currently trading for about $0.029 per BTSX (34 BTSX per BitUSD), whereas the current market price is about $0.021 (0.00004250 BTC per BTSX), which is a pretty significant spread. It almost seems more beneficial to cash out into BTC at this point, with BitUSD having such a significant discount. Thoughts?