Opinions about tetherUSD, coinoUSD, BitShares 2.0 and BitUSD? - page 3.

brekyrself

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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/

SebastianJu

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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.

mmortal03

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TetherUSD is a USD token stored on the Bitcoin blockchain. You do have to trust that they aren't going to run away with the USD in their bank account that backs it.

It'd be nice if they wrote an Android app version of their wallet.

Honestman

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I trust BitUSD. Coinousd can be transfered to BitUSD. I notice some exchanges accept BitUSD deposit.

brekyrself

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Quote from: SebastianJu on October 24, 2015, 04:41:22 PM

Quote from: brekyrself on October 24, 2015, 12:32:37 PM

Trustworthiness of the Bitshares dev's is not an issue. They don't hide behind computers and have been very active over the years at conferences. They even hold weekly mumble sessions you can jump on and ask questions etc...

The 2.0 wallet just came out and with that will be bugs and issues so use it accordingly. OpenLedger provides a nice Bitshares on/off ramp especially with their nano debit card. Overall it's a great solution where you can trade other chains such as BTC without having to trust a 3rd party exchange with both sides of the bet.

I will add, research yourself such as GitHub repositories to get an idea how much effort is going into these projects.
https://github.com/bitshares (BTS 1.0 had 8311 commits, BTS 2.0 so far has 1046 commits. Shows you how active they are)
https://github.com/cryptonomex <--creators of bitshares that are also creating specialized chains for the music industry etc...

Thanks for your insight into bitshares. So how does the pegging to 1usd work? Will bitshares 2 always have that value? How is that value establisheD?

Some links to start reading. These cover 1.0 however 2.0 just improves upon all of this. Lots to read and comprehend, it will take more then a day!

http://bytemaster.github.io/article/2014/12/18/What-are-BitShares-Market-Pegged-Assets/
http://bytemaster.github.io/guest/2014/12/22/How-BitShares-Works/
http://bytemaster.github.io/article/2015/01/01/How-to-create-a-stable-decentralized-crypto-currency/

His blog in general is a great source of crypto information. http://bytemaster.github.io/all/

2.0 specifically:
https://bitsharestalk.org/index.php/topic,16744.0.html

CoinHoarder

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In Cryptocoins I Trust

Quote from: SebastianJu on October 24, 2015, 04:41:22 PM

Thanks for your insight into bitshares. So how does the pegging to 1usd work? Will bitshares 2 always have that value? How is that value establisheD?

It is complicated. This explains it better than I can: https://bitshares.org/technology/price-stable-cryptocurrencies/

SebastianJu

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Quote from: brekyrself on October 24, 2015, 12:32:37 PM

Trustworthiness of the Bitshares dev's is not an issue. They don't hide behind computers and have been very active over the years at conferences. They even hold weekly mumble sessions you can jump on and ask questions etc...

The 2.0 wallet just came out and with that will be bugs and issues so use it accordingly. OpenLedger provides a nice Bitshares on/off ramp especially with their nano debit card. Overall it's a great solution where you can trade other chains such as BTC without having to trust a 3rd party exchange with both sides of the bet.

I will add, research yourself such as GitHub repositories to get an idea how much effort is going into these projects.
https://github.com/bitshares (BTS 1.0 had 8311 commits, BTS 2.0 so far has 1046 commits. Shows you how active they are)
https://github.com/cryptonomex <--creators of bitshares that are also creating specialized chains for the music industry etc...

Thanks for your insight into bitshares. So how does the pegging to 1usd work? Will bitshares 2 always have that value? How is that value establisheD?

brekyrself

hero member

Activity: 547

Merit: 502

Trustworthiness of the Bitshares dev's is not an issue. They don't hide behind computers and have been very active over the years at conferences. They even hold weekly mumble sessions you can jump on and ask questions etc...

The 2.0 wallet just came out and with that will be bugs and issues so use it accordingly. OpenLedger provides a nice Bitshares on/off ramp especially with their nano debit card. Overall it's a great solution where you can trade other chains such as BTC without having to trust a 3rd party exchange with both sides of the bet.

I will add, research yourself such as GitHub repositories to get an idea how much effort is going into these projects.
https://github.com/bitshares (BTS 1.0 had 8311 commits, BTS 2.0 so far has 1046 commits. Shows you how active they are)
https://github.com/cryptonomex <--creators of bitshares that are also creating specialized chains for the music industry etc...

SebastianJu

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Hi,

i want to hear opinions about the trustworthiness of the above named coins since i'm searching an alternative to NuBits, that i used till now to hedge against a falling bitcoin price. To protect my value. Though in the last price rise of bitcoin i noticed that the liquidity bot, that creates the buy and sell orders on the exchanges, simply did only create small orders on the buy side. Which means i could not exchange my nubits to bitcoins. Which means they lost their pegging to the USD for me then.

That's why i search alternatives. I was told some coins in this thread here: https://bitcointalk.org/index.php?topic=1211057.new#new and on another place but i would like to hear opinions about how trustworthy these 4 suggestions are.

Thank you!

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