Author Topic: Price feeds for Gold, Siver, Euro, Pound, Oil, Litecoin, Peso, Franc, etc.  (Read 8425 times)

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Offline pendragon3

Has there been any discussion yet about whether it's better to have BitGLD and BitSLV or BitGold and BitSilver? The reason I ask is because "GLD" is the SPDR gold shares ETF and "SLV" refers to the iShares silver trust ETF. Obviously, the ETF prices are quite different from the physical metal prices. For example, the price of gold is about $1,250 per ounce, while the price of GLD is about $118.38 per share.

Quite a few precious metals "experts" have argued that the paper asset ETFs GLD and SLV do not provide as much security as the physical metals because (1) the ETFs may not be backed by as much physical bullion as they advertise; and (2) in a real economic/financial catastrophe, the paper prices could decouple from the physical prices and become basically worthless.

So, should the new Bitassets aim to track ETF per-share prices (BitGLD and BitSLV), or should they track per-ounce physical prices (BitGold and BitSilver) instead? It could be argued that the latter would be safer and more useful for those seeking to hedge against a real monetary or financial crisis.

Offline Markus

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BitGLD is half way there. We need 51 feeds to start trading.

Offline xeroc

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Offline liondani

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I encourage all active delegates to start publishing Gold price feeds...
What are you waiting for?  ;)



Offline profitofthegods

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I think that's what I meant, just used the wrong word. I'll definitely be interested in buying / trading this then. Perhaps gold too. Thanks.
I have a feeling GLD will be next .. some feeds already out there .. will add mine once the new release-candidate is running

Cool, looking forward to it. I'm not especially bullish on fiat, especially the USD which is slowly loosing its reserve currency status, so even with the yield I'd rather have Bitcoins. But being able to put a bit of money into commodities which I think will rise in value and get a yield on top of that is quite exciting to me.

Offline xeroc

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I think that's what I meant, just used the wrong word. I'll definitely be interested in buying / trading this then. Perhaps gold too. Thanks.
I have a feeling GLD will be next .. some feeds already out there .. will add mine once the new release-candidate is running

Offline profitofthegods

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At some point I would like to buy the oil asset. Would these additional assets have a dividend structure like BitUSD?
you would get a yield ... no dividend ..

I think that's what I meant, just used the wrong word. I'll definitely be interested in buying / trading this then. Perhaps gold too. Thanks.

Offline xeroc

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At some point I would like to buy the oil asset. Would these additional assets have a dividend structure like BitUSD?
you would get a yield ... no dividend ..

Offline profitofthegods

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At some point I would like to buy the oil asset. Would these additional assets have a dividend structure like BitUSD?

Offline Markus

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That's good news.

I think we need feeds before the first orders can be placed. For example shorting GLD right now with 0.4.14 (Win7) I get this error and no order is placed.

10 assert_exception: Assert Exception
median_delegate_price.valid():
    {}
    bitshares  market_operations.cpp:191 bts::blockchain::short_operation::evaluate

Offline xeroc

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From the mumble session currently ongoing, BM and I3 is all fine with launching new assets at will ..
I would call that a GO!

BM explicitly told us that I3 has no interest in dictating when to launch new assets

Offline oldman

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My vote goes with holding off until the client is stable and the yield is sorted.

Having one/two assets (bitUSD/bitBTC) to focus on speeds this process up.

Once there is one solid peg in place the other assets can be bootstrapped very quickly.

Offline xeroc

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*bump*

I am not sure to how to proceed with new feeds .. maybe I will talk about this the evening @ the mumble handout session
some more opinions on this?

I know some have already started publishing a feed for the EUR ..
i.e., https://bitsharestalk.org/index.php?topic=6406.msg114296#msg114296

Offline ag

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for some reason.. running the experiment with an actual commodity i.e BitGLD seems riskier.. but It would be great to have BitGLD as soon as possible. since gold is down 50 dollars this week, some in the crypto community must see this as a buying opportunity and it would be nice to have a liquid virtual gold market. Right now the IOU's on ripple have very little volume. RippleSingapore since january has only issued 52 XAU total. and Gold Bullion International since july: 12 XAU.
« Last Edit: September 12, 2014, 05:53:06 pm by ag »

Offline xeroc

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can we first convince the world, that the peg is holding and prepare our marketing posters ... that way people can buyin and prepare for other markets