The Market Peg Works!

[bytemaster]

[Method-X]

I posted this to reddit:

http://www.reddit.com/r/CryptoCurrency/comments/2fhcjt/bitsharesx_the_market_peg_works/

http://www.reddit.com/r/Bitcoin/comments/2fhe52/bitsharesx_the_market_peg_works/

http://www.reddit.com/r/BitShares/comments/2fhat7/bytemaster_proclaims_the_market_peg_works/

Upvote for visibility please.

[mf-tzo]

of course it does.

[oldman]

My main takeaway from all of this has been that this experiment is like learning to ride a bike. At first you don’t have the confidence to give yourself  momentum. Instead, you learn with training wheels. Once you have confidence to give yourself momentum, the training wheels can be removed and you’ll never forget how to ride a bike.

 

[Riverhead]

My main takeaway from all of this has been that this experiment is like learning to ride a bike. At first you don’t have the confidence to give yourself  momentum. Instead, you learn with training wheels. Once you have confidence to give yourself momentum, the training wheels can be removed and you’ll never forget how to ride a bike.

Agreed. If nothing else I have learned a TON of economics during this project.

[bytemaster]

My main takeaway from all of this has been that this experiment is like learning to ride a bike. At first you don’t have the confidence to give yourself  momentum. Instead, you learn with training wheels. Once you have confidence to give yourself momentum, the training wheels can be removed and you’ll never forget how to ride a bike.

[Method-X]

My main takeaway from all of this has been that this experiment is like learning to ride a bike. At first you don’t have the confidence to give yourself  momentum. Instead, you learn with training wheels. Once you have confidence to give yourself momentum, the training wheels can be removed and you’ll never forget how to ride a bike.

[liondani]

Goodbye USA banks officially!

[bytemaster]

One the price feed - emphasize what they really are.

'Price feeds are the fastest, most accurate way to introduce into the system the information regarding the actual BTSX:USD price.'



Other than that, I would have written the OP as  BTSX being the currency and bitUSD the product/asset, but that is just me.

 

[edit]  is there a command to see the black-swan reserve already or not yet?

Code: [Select]

>> blockchain_get_asset USD
{
  "id": 22,
  "symbol": "USD",
  "name": "United States Dollar",
  "description": "1 United States dollar",
  "public_data": "",
  "issuer_account_id": -2,
  "precision": 10000,
  "registration_date": "20140719T000000",
  "last_update": "20140719T000000",
  "current_share_supply": 4852503572,
  "maximum_share_supply": 1000000000000000,
  "collected_fees": 17934081
}
$1793.4081 is the reserve fund at the moment. 

[tonyk]

One the price feed - emphasize what they really are.

'Price feeds are the fastest, most accurate way to introduce into the system the information regarding the actual BTSX:USD price.'



Other than that, I would have written the OP as  BTSX being the currency and bitUSD the product/asset, but that is just me.

 

[edit]  is there a command to see the black-swan reserve already or not yet?

[ripplexiaoshan]

Indeed, it's working, bitUSD is pegging USD much better than a few days ago.

However, it's at the cost of less transactions in the on-chain market. As we are aiming to build the decentralized market, is the current status sustainable?  Because currently it seems that internal market is pegging external market. 
 

[bytemaster]

Is there a chart of bitUSD/USD available anywhere so we can see the correlation over time?  Also, what's the current correlation?  Has it reached parity?

$0.0323   Bid   $0.0328 Ask

Coin market cap: $ 0.031793   

Discount: 3.1415%

[yellowecho]

Is there a chart of bitUSD/USD available anywhere so we can see the correlation over time?  Also, what's the current correlation?  Has it reached parity?

[xeroc]

Give reddit some love:
http://www.reddit.com/r/BitShares/comments/2fgz3p/the_market_peg_works/

Maybe we can also bring this in r/CryptoCurrency or r/Bitcoin (probably not)

[oco101]

Mabye we should emphazise that the feed really only affects shorts and margin calls

participants trading bitUSD back and forth can chose whatever price they want!!

Very good idea.

We should emphasize the market peg works this was the only unknown a few weeks ago. I could see that the peg was working but for some reason  that is not the impression that  we get right now from the forum. The whole system depended on it. It is absolutely amazing that it is working so smoothly. Please let the world know  the peg is working, now the sky is the limit 

And yes I agree we should also  emphasize that the feed really only affects shorts and margin calls