monsterer
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Activity: 1008
Merit: 1000
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November 13, 2015, 11:23:04 AM |
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yawn, bitcoin and bitUSD owners are unaffected for that period of time and beyond
now gamblers who shorted bitUSD into existance, then sold it,
Isn't bitUSD force liquidated into BTS during a black swan? And you're calling the people who create bitUSD gamblers? |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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CoinHoarder
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Activity: 1484
Merit: 1026
In Cryptocoins I Trust
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November 13, 2015, 07:15:22 PM |
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Call me naive, but I am not worried about a black swan incident. I recently started using Bitshares' decentralized for all my trading for the smartassets that have volume or pricefeeds (minus the coins that aren't trading on there that I am also interested in.) I am 50% in Bitcoin 25% in Silver and 25% in Gold.
I am bearish on BTS at the moment, but think it has great potential as a decentralized derivative exchange. Once adoption and thus volume picks up it will be quite wonderful. The in-wallet gateways are a very nice addition.
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mmortal03
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Activity: 1762
Merit: 1010
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November 27, 2015, 02:08:39 AM |
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i'm searching an alternative to NuBits, that i used till now to hedge against a falling bitcoin price. To protect my value.
There's always Coinapult Locks. An account to lock your bitcoins to USD is actually built right in to the Mycelium wallet now. There are drawbacks to using it, but such is the case for the alternatives here. |
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BurstIncomeAsset
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November 27, 2015, 02:58:59 AM |
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I think it is a bad idea to peg and asset to USD, but it can be helpful too to exchanges and money transmitters.
However it will be hard to maintain the peg.
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SebastianJu (OP)
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Activity: 2674
Merit: 1082
Legendary Escrow Service - Tip Jar in Profile
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November 27, 2015, 12:27:12 PM |
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i'm searching an alternative to NuBits, that i used till now to hedge against a falling bitcoin price. To protect my value.
There's always Coinapult Locks. An account to lock your bitcoins to USD is actually built right in to the Mycelium wallet now. There are drawbacks to using it, but such is the case for the alternatives here. Coinapult looks like it would be a similar risk like simply exchanging bitcoins to fiat on an exchange and letting it lie around there. If the website goes down then the value is gone. I tend to believe that the possible ways to lose your value are lower when holding a coin on your own wallet. Then the only risk is that the issuer goes down. The thing with Mycelium looks similar or is it possible that you control your coins and even would be able to get your value out in case mycelium as a company goes down? Or would the backed value vanish then? |
Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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SebastianJu (OP)
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Activity: 2674
Merit: 1082
Legendary Escrow Service - Tip Jar in Profile
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November 27, 2015, 12:29:19 PM |
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I think it is a bad idea to peg and asset to USD, but it can be helpful too to exchanges and money transmitters.
However it will be hard to maintain the peg.
It is a good idea for bitcoiners but probably risky for those offering it. Though the demand is there definitely so offers are there too. So far i believe that the liquidity providers of nubits still earn from providing liquidity. It's not that they lose money by doing so. And they survived some crashs till now. I think there is a risk but the longer they survive the lower will it get i think. |
Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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mmortal03
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Activity: 1762
Merit: 1010
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November 27, 2015, 03:41:40 PM |
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Coinapult looks like it would be a similar risk like simply exchanging bitcoins to fiat on an exchange and letting it lie around there. If the website goes down then the value is gone.
I tend to believe that the possible ways to lose your value are lower when holding a coin on your own wallet. Then the only risk is that the issuer goes down.
The thing with Mycelium looks similar or is it possible that you control your coins and even would be able to get your value out in case mycelium as a company goes down? Or would the backed value vanish then?
I've read that they're working on the capability to hold your own private keys by way of a token of some kind. However, the tricky thing is that even if you do hold such a token, say it's stored as TetherUSD, well, for any such redeemable value that is stored off chain, there's still a trust factor involved -- you must trust that the issuer's off chain value storage (a bank account, a vault) doesn't disappear or get mismanaged. In that case, you control the private keys, but you're still out of luck. |
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SebastianJu (OP)
Legendary
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Activity: 2674
Merit: 1082
Legendary Escrow Service - Tip Jar in Profile
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November 27, 2015, 10:31:22 PM |
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Coinapult looks like it would be a similar risk like simply exchanging bitcoins to fiat on an exchange and letting it lie around there. If the website goes down then the value is gone.
I tend to believe that the possible ways to lose your value are lower when holding a coin on your own wallet. Then the only risk is that the issuer goes down.
The thing with Mycelium looks similar or is it possible that you control your coins and even would be able to get your value out in case mycelium as a company goes down? Or would the backed value vanish then?
I've read that they're working on the capability to hold your own private keys by way of a token of some kind. However, the tricky thing is that even if you do hold such a token, say it's stored as TetherUSD, well, for any such redeemable value that is stored off chain, there's still a trust factor involved -- you must trust that the issuer's off chain value storage (a bank account, a vault) doesn't disappear or get mismanaged. In that case, you control the private keys, but you're still out of luck. Yes, that's why i think it would be best to chose a coin and coin storage with the least needed trust as possible. So far nubits still look the best, even though it is not perfect, especially when bitcoin is volatile. |
Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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BurstIncomeAsset
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November 28, 2015, 05:35:37 AM |
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I think it is a bad idea to peg and asset to USD, but it can be helpful too to exchanges and money transmitters.
However it will be hard to maintain the peg.
It is a good idea for bitcoiners but probably risky for those offering it. Though the demand is there definitely so offers are there too. So far i believe that the liquidity providers of nubits still earn from providing liquidity. It's not that they lose money by doing so. And they survived some crashs till now. I think there is a risk but the longer they survive the lower will it get i think. If they hedge properly then its no risk. They get money from comissions. |
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