Opinions about tetherUSD, coinoUSD, BitShares 2.0 and BitUSD? - page 2.

mmortal03

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Quote from: tokeweed on November 10, 2015, 09:44:35 PM

USD pegged crypto are badly needed. But there's no support from the bigger exchanges.

Like I mentioned above, Bitfinex supports TetherUSD, and treats it just like USD. Someone just needs to develop an Omni-token supporting Android app (though wallet.tether.to does work on mobile), and an Omni-token supporting desktop wallet. It'd also be cool if we could hold TetherUSD on a Trezor.

HeroCat

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They do not have enough altcoin market share to get interest Grin

There are a lot of altcoins around, which are not so popular Grin

monsterer

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bitAssets replace counterparty risk with systematic risk. On the one hand, you don't rely on a centralised entity which can get hacked, but on the other you have to play by the rules of the system, which is susceptible to black swan events and other systematic risks.

blackyblack

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Quote from: ?? on ??

Quote from: blackyblack on November 11, 2015, 02:41:32 AM

Quote from: ?? on ??

non-smartcoin/counterparty backed USD tokens can be easily purchased in any quantity, but difficult to sell large quantities at $1 when crypto is rising

Counterparty backed USD tokens are not dependent on crypto price. They can be sold exactly at $1 if counterparty plays honestly and does not use partial reserves.

I'm just not really into wondering "if i can trust counterparties" anymore. That's the whole reason why I got into Bitcoin in the first place (so i can deal with robots instead of people)

Counterparty risk is well known. I just do not understand where did you get this idea that crypto USD should be hard to buy or to sell. I show you that with coinoUSD it is easy to buy and to sell.

You are asking "can you sell any quantity of non-smartcoins for exactly $1?". You can sell any amount of coinoUSD for exactly $1. It will take some time though while hot wallet is being refilled for really big orders.

blackyblack

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Quote from: ?? on ??

non-smartcoin/counterparty backed USD tokens can be easily purchased in any quantity, but difficult to sell large quantities at $1 when crypto is rising

Counterparty backed USD tokens are not dependent on crypto price. They can be sold exactly at $1 if counterparty plays honestly and does not use partial reserves.

Check out coinomat.com site to easily exchange coinoUSD to BTC or BTC to coinoUSD.

1aguar

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Quote from: tokeweed on November 11, 2015, 12:29:40 AM

Quote from: e-coinomist on November 11, 2015, 12:13:49 AM

Sebastian, consider plain FIAT

Yeah, but it would suck holding that in an exchange.

You can store fiat at Uphold; it is the world's leading cloud-based money platform formerly known as BitReserve.

tokeweed

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Life, Love and Laughter...

Quote from: e-coinomist on November 11, 2015, 12:13:49 AM

Sebastian, consider plain FIAT

Yeah, but it would suck holding that in an exchange.

e-coinomist

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Money often costs too much.

Sebastian, consider plain FIAT

tokeweed

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Life, Love and Laughter...

USD pegged crypto are badly needed. But there's no support from the bigger exchanges.

testz

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Quote from: SebastianJu on November 10, 2015, 05:22:53 PM

Quote from: testz on November 10, 2015, 07:33:40 AM

Quote from: SebastianJu on November 10, 2015, 07:06:09 AM

So bitUSD really have no volume? http://coinmarketcap.com/assets/bitusd/#markets

coinmarketcap not updated yet after BitShares 2.0 release.
BitShares developers will provide to coinmarketcap new data source for internal BitShares markets soon and when you will see BitUSD volume. But meanwhile you can check BitUSD volume in BitShares 2.0 online wallet: https://bitshares.openledger.info

coinmarketcap also doesn't count CCEDK BitUSD volume:
https://www.ccedk.com/bitusd-usd

I would need to create an account there. Can you tell me the volume and can you agree with the hard to buy part bitcoinsatan explained?

I mostly use these coins to protect me against a falling bitcoin price.

To create account you just need specify user name and password, no additional info like e-mail, and it's cost 0.
Last days, BTS/USD trading volume 3000-11000$ per day, BTS/CNY: 0-39000 CNY, BTS/GOLD: 0.3-1 troy ounce .999 fine gold, BTS/SILVER: 0-196 troy ounce .999 fine silver

1aguar

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Quote from: 1aguar on November 10, 2015, 05:35:48 PM

Why not use futures to protect against a fall in the bitcoin price?

Futures are very liquid and designed for hedging; I like to use 796 exchange where they have no fees to hedge and speculate.
In addition, you can typically sell the future at a price higher than the spot rate and make an arbitrage between spot and futures markets; all it takes to make a profit is the patience to hold until expiration and enough margin to protect yourself from volatility. There is sometimes a counterparty risk on the futures exchanges though.

1aguar

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Why not use futures to protect against a fall in the bitcoin price?

SebastianJu

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Quote from: testz on November 10, 2015, 07:33:40 AM

Quote from: SebastianJu on November 10, 2015, 07:06:09 AM

So bitUSD really have no volume? http://coinmarketcap.com/assets/bitusd/#markets

coinmarketcap not updated yet after BitShares 2.0 release.
BitShares developers will provide to coinmarketcap new data source for internal BitShares markets soon and when you will see BitUSD volume. But meanwhile you can check BitUSD volume in BitShares 2.0 online wallet: https://bitshares.openledger.info

coinmarketcap also doesn't count CCEDK BitUSD volume:
https://www.ccedk.com/bitusd-usd

I would need to create an account there. Can you tell me the volume and can you agree with the hard to buy part bitcoinsatan explained?

I mostly use these coins to protect me against a falling bitcoin price.

SebastianJu

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Quote from: ?? on ??

bitUSD is hard to find cheaply (which is why there is low volume) because it can always be sold for at least $1

bitUSD = no matter how much you have, you can ALWAYS sell it all for $1 whenever you want (without counterparty risk of course)

because they made the mechanism that way, it is simple to understand

bitUSD - hard to buy (at a good price), but easy to sell (at a good price)

get it?

All the others are easy to buy (at a good price) but hard to sell (at a good price)

and that is why bitUSD is unique

Which do you prefer?

1. easy buy hard sell (all the rest)
2. hard buy easy sell (bitUSD)

To find the answer, just ask yourself if you like getting trapped in a trade (unable to exit a position)(holding a bag)

Now you have learned something about yourself, and are able to choose the correct option that is best for you

In fact i mostly need a fast trade when i held bitcoins and they start to crash. I then try to get my value into a stable cryptocurrency. And those are mostly artificially held at a price connected to fiat.

I'm not sure that i can follow your explainations about why they should be hard to sell or buy. I mean as long as the price is not very volatile you can fast buy and sell nubits. I did not see a difference there.

brekyrself

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Quote from: SebastianJu on November 10, 2015, 05:22:30 AM

Quote from: brekyrself on November 09, 2015, 03:03:32 PM

Quote from: SebastianJu on November 09, 2015, 02:42:24 PM

I checked out coinoUSD on poloniex but it seems they have a huge spread there and no volume. So they are useless for me.

Bitshares 1 seems to be run on poloniex, will they update on version 2 soon??

TetherUSD is used on plo directly but the orderbooks are too thin to exchange really there. And i don't see a full relation to the US-Dollar.

I wonder if bitshares 2 are really better and bitusd? Where do they trade best and what is the insurance on bitusd that they can back the value and don't run with the backing?

At the moment it looks to me like only nubits have the low enough spread and good enough filled orderbooks to use it. Though not really in times of crashes or fast rising prices.

Poloniex upgraded to bts 2.0 last month. Have you read any of the links I posted above or checked out the wallet? The links will answer your questions on what "backs" BitUSD, BitBTC, and all the BitAssets. Check out the hosted wallet by OpenLedger https://bitshares.openledger.info/

I wanted to check out bitshares but then i was told that it must be an error that bitshares is worth $1 always. I checked the prices on poloniex and it really doesn't look like a bitshare, you say it is version 2, is worth something like that, nor there is a inverse connection to the bitcoinvalue. The bitshares are only worth some K satoshis. So i don't see where the connection is. Besides, only one side of the orderbook seems to hold enough coin value to make it possible to exchange a reasonable amount of btc to a USD fiat replacement.

Or is there a better place with higher volume? And it seems poloniex doesn't have bitusd, i can't find it at least.

I have read the first link but i don't get it yet. There is no fiat or so backing it. It all is based on trust and believe in the value of bitusd. That sounds risky since i don't see how it can be secured that way. Through the shorters? So value in shorts are rising when price of bitusd sinks, so the total value of the currency remains stable or something like that? Though i don't see how those who hold bitusd can trust that the bitusd price can not crash. They should have nothing from shorts becoming worth much then.

Keep reading, it honestly takes time to wrap your head around BitShares.

At a high level you can think of BitShares as an options exchange where instead of being settled in USD, its settled in BitShares. So when buying wheat on the market your not actually going to take delivery of wheat, your only betting on the value (up or down). BitShares however goes further as someday merchants may accept bitUSD, BitEuro etc... thus has fantastic potential.

testz

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Quote from: SebastianJu on November 10, 2015, 07:06:09 AM

So bitUSD really have no volume? http://coinmarketcap.com/assets/bitusd/#markets

coinmarketcap not updated yet after BitShares 2.0 release.
BitShares developers will provide to coinmarketcap new data source for internal BitShares markets soon and when you will see BitUSD volume. But meanwhile you can check BitUSD volume in BitShares 2.0 online wallet: https://bitshares.openledger.info

coinmarketcap also doesn't count CCEDK BitUSD volume:
https://www.ccedk.com/bitusd-usd

SebastianJu

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Here an interesting post: https://bitcointalksearch.org/topic/m.12895069

So bitUSD really have no volume? http://coinmarketcap.com/assets/bitusd/#markets

If true then this would mean that you can't effectively use it, though you mentioned, or i read it somewhere, that it somehow is possible to buy and sell even though no offer exists. I wonder if that can be healthily done without risks.

SebastianJu

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Quote from: brekyrself on November 09, 2015, 03:03:32 PM

Quote from: SebastianJu on November 09, 2015, 02:42:24 PM

I checked out coinoUSD on poloniex but it seems they have a huge spread there and no volume. So they are useless for me.

Bitshares 1 seems to be run on poloniex, will they update on version 2 soon??

TetherUSD is used on plo directly but the orderbooks are too thin to exchange really there. And i don't see a full relation to the US-Dollar.

I wonder if bitshares 2 are really better and bitusd? Where do they trade best and what is the insurance on bitusd that they can back the value and don't run with the backing?

At the moment it looks to me like only nubits have the low enough spread and good enough filled orderbooks to use it. Though not really in times of crashes or fast rising prices.

Poloniex upgraded to bts 2.0 last month. Have you read any of the links I posted above or checked out the wallet? The links will answer your questions on what "backs" BitUSD, BitBTC, and all the BitAssets. Check out the hosted wallet by OpenLedger https://bitshares.openledger.info/

I wanted to check out bitshares but then i was told that it must be an error that bitshares is worth $1 always. I checked the prices on poloniex and it really doesn't look like a bitshare, you say it is version 2, is worth something like that, nor there is a inverse connection to the bitcoinvalue. The bitshares are only worth some K satoshis. So i don't see where the connection is. Besides, only one side of the orderbook seems to hold enough coin value to make it possible to exchange a reasonable amount of btc to a USD fiat replacement.

Or is there a better place with higher volume? And it seems poloniex doesn't have bitusd, i can't find it at least.

I have read the first link but i don't get it yet. There is no fiat or so backing it. It all is based on trust and believe in the value of bitusd. That sounds risky since i don't see how it can be secured that way. Through the shorters? So value in shorts are rising when price of bitusd sinks, so the total value of the currency remains stable or something like that? Though i don't see how those who hold bitusd can trust that the bitusd price can not crash. They should have nothing from shorts becoming worth much then.

RaginglikeaBoss

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Never before 11 P.M.

Quote from: brekyrself on November 09, 2015, 03:03:32 PM

Quote from: SebastianJu on November 09, 2015, 02:42:24 PM

I checked out coinoUSD on poloniex but it seems they have a huge spread there and no volume. So they are useless for me.

Bitshares 1 seems to be run on poloniex, will they update on version 2 soon??

TetherUSD is used on plo directly but the orderbooks are too thin to exchange really there. And i don't see a full relation to the US-Dollar.

I wonder if bitshares 2 are really better and bitusd? Where do they trade best and what is the insurance on bitusd that they can back the value and don't run with the backing?

At the moment it looks to me like only nubits have the low enough spread and good enough filled orderbooks to use it. Though not really in times of crashes or fast rising prices.

Poloniex upgraded to bts 2.0 last month. Have you read any of the links I posted above or checked out the wallet? The links will answer your questions on what "backs" BitUSD, BitBTC, and all the BitAssets. Check out the hosted wallet by OpenLedger https://bitshares.openledger.info/

He didn't, take note he is running a signature campaign.

BitUSD has been more liquid in my use than Tether. I love the elegance of Tether, but there is simply too much spread on their books where I trade to make much profit.

mmortal03

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Quote from: SebastianJu on November 09, 2015, 02:42:24 PM

TetherUSD is used on plo directly but the orderbooks are too thin to exchange really there. And i don't see a full relation to the US-Dollar.

Well, TetherUSD is treated the same as USD on Bitfinex, so that's a positive.

Topic: Opinions about tetherUSD, coinoUSD, BitShares 2.0 and BitUSD? - page 2. (Read 3444 times)