BitUSD today... Stablecoin hype?

[ifinta]

Nice hype, but...

[passwordnow]

And it's up by 90% now. I'd advise those holders of this coin to start selling, it's on hype but this isn't going to last a long time.
It might be for this day so if you're also holding it, be contented with the profit and start selling it. This coin has been stagnant for years @$1 and now that it has reached $20, it's a taking profit time.

[samcrypto]

A big pump triggers by a positive news or a pure hype, I feel the luck of those who hold these coin from the bottom price of $1 or less. Its now or never, and I suggest to the hodlers not to be greedy because this kind of scenario can boom any moment from now. But seriously, I'm happy to all the hodlers of this coin instant profit for sure. 

[Red-Apple]

I feel the luck of those who hold these coin from the bottom price of $1 or less.

you don't have to buy at the absolute bottom and way before the pump to make profit. in fact majority of successful traders have never bought any altcoin before the pump began!
they all buy these pumping shitcoins as soon as they start pumping not a moment sooner and also they dump it right away as soon as they reach their target profit.

by the way how is this called "stablecoin" if it is rising?

[ifinta]

...
by the way how is this called "stablecoin" if it is rising?

Yes. This is the question. It is an USD with a value of 34 real USD? Nice. With much more volumen as in the last week with a normal price: 1 USD! Interesting. BitShares Asset. (Pegged to the USD - theoretically)

[ifinta]

And the chart of last week for BitShares + in the comment some information about bitUSD ...

[danherbias07]

I dont get it.
Taking the name of USD and now having 36 usd a piece. That is pure BS.
This cant be trusted. Something big will happen here and traders better make profit out of it in speed. Never stay for too long or else a huge number of capital could be taken away.

Will be looking into it.

[YuginKadoya]

Surely this would not last for sure, and the movement up is kinda fishy in my opinion that is why I never really trust all stable coins that are for sure, we can not tell who's really backing it up to make an increase like that but I am thinking that this is just baiting to make a hype but many in the community would surely not buying it, but I guess there will be a number of newbies that might come and take this opportunity, but not worth it.

[milewilda]

As expected its a pump and dump.Sorry for those who got caught on the peak price.

[tabas]

Lucky are those who sold at the peak of $30-$34. Now it's down to $6 which is still a good price for those who held it when it was $1 or below.
It's expected when an altcoin pumps, there will be an upcoming dump for it.

[SquallLeonhart]

Wow, this is very glaring that it is a very great pump, and people need to be careful now because what such person that pumped the price artificially wants is for people to pay attention to the coin, and out of fomo start to out in their money, and after they put in such money, the whales or the manipulator will dump the coin in other to remove his own investment.

I would have said that it is a good thing for those that already have their investment in it, but removing their coin now will also be very difficult because they would not get the market to so since it is not an organic volume, many of them will just end up having a sell order that will be there for long without anybody picking interest to buy it. How can a coin just suddenly grow from 1 usd to 22 usd.

[tokeweed]

And check Nubits out.  Lol.  I remember I used to be so excited about it cos you wouldn't have to keep your funds in USD in an exchange...  And it's 'decentralized'! 



 

[xenomorphe1]

It is a proof that BitUSD is not pegged to USD... They don't seem to have a mechanism to force the price to be pegged to actual USD price on the market. Other "stable" assets on BitShares have the same problems. It seems that thoses stables coins are stable only if the traders want it to be like a stable coin. And i have not see a way of exchanging bitUSD to the equivalent fiat currency...

[MbakNarti]

Ah shit I missed the train
I don't know if BitUSD pumping yesterday
May I know what is the good news that makes hype coming and price pumping?

Anyway, seems the price stable at $1 now. When next pumping ?  
https://coinmarketcap.com/currencies/bitusd/

[ifinta]

Sure

Using and trading at Bitshares is generally not convenient.

[Pecunia non olet]

Better 2200% growth than fall.
But could someone explain how this is possible? BitUSD is not pegged to real USD, it is pegged to other cryptocurrencies?

[Mahanton]

Better 2200% growth than fall.
But could someone explain how this is possible? BitUSD is not pegged to real USD, it is pegged to other cryptocurrencies?

Its always been possible and these pump and dump schemes can be seen everywhere on crypto.The reason? Its pure manipulation.
Pumping prices for people to get hyped then those bag holders would just simply dump all of their stasher and leaving those people
who bought on the highest price.Spotting these opportunities isn't really that easy.

[lixer]

Better 2200% growth than fall.
But could someone explain how this is possible? BitUSD is not pegged to real USD, it is pegged to other cryptocurrencies?

Reason for the increase is just nothing but pump and fomo, it must have gotten a big investor with big money that has been taught how to use his money to manipulate the coin, and people like you and I are the one that will suffer the dumping when it is being dumped suddenly.

How many people really know this project and how many people  were willing to invest in it when the value was down, but we can see how people are so willing to start investing now that the price as gone up and this is the major target, now people will start putting money out of fomo, while as they put  money, the value will keep going up and the big investor witnessing as profit climbs his money, if those new investors are not careful, these large investors will sell major part of their coin dumping the value.

[ifinta]

Better 2200% growth than fall.
But could someone explain how this is possible? BitUSD is not pegged to real USD, it is pegged to other cryptocurrencies?

Reason for the increase is just nothing but pump and fomo, it must have gotten a big investor with big money that has been taught how to use his money to manipulate the coin, and people like you and I are the one that will suffer the dumping when it is being dumped suddenly.

How many people really know this project and how many people  were willing to invest in it when the value was down, but we can see how people are so willing to start investing now that the price as gone up and this is the major target, now people will start putting money out of fomo, while as they put  money, the value will keep going up and the big investor witnessing as profit climbs his money, if those new investors are not careful, these large investors will sell major part of their coin dumping the value.

Just to consider - bitUSD should be well pegged to USD. It should be a stablecoin around 1 USD price. If it is much higher or much lower means a bug. A stablecoin should have always a stable price - with very small changes. Also if somebody it dumps or pumps - a such stablecoin should stay around 1 USD...