Quote from: Zer0Sum on December 03, 2014, 02:10:21 AM

Quote from: mavromixalakis on December 02, 2014, 09:51:25 PM

The bitusd to usd peg is working quite well. There are very few arbitrage opportunities which are gone within very short period

To bitcoin fans...Don't hold any BTS if you don't want to. Buy BitBTC and hodl...You will earn some btc interest, reduce your exposure to get goxed from a centralized exchange and you will support the true decentalization of the bitcoin ideoly.

Your investment is secured based on pure and simple economics. BTS is just a bank that every bitasset created is backed by x2 BTS in collateral. As long as 1 BTS has some value bigger than ZERO your investment in bitassets is secured

So please do your research first, stop spreading FUD, be honest to your decentralized ideologies and stop supporting the corrupted centralized system of cryptos and proof of waste of bitcoin for no reason and at all costs. Bitcoin and proof of waste coins were great last year but cryptos have evolved so don't be left behind..

You cannot have a bitUSD peg without convertibility to USD at some specific point...
Or a bitBTC peg without convertiability to BTC at some point.

These are futures markets minus the "settlement".

This is much more serious than running an unregistered exchange...
It's such a basic error that it can only be considered fraud when it collapses.

Just imagine that instead of BTS...
You create a USD peg using tulips or baseball cards... both of which have real value.

If you have a cult following of a few hundred zombie chinese "traders"...
And you can have WHALES with tons of tulips manipulate the market...
And you can keep changing the rules.

IT WILL KINDA WORK FOR A WHILE...
But when the shit hits the fan... in the end all you got is tulips... and no USD.

There is nothing new here. People were doing this 200 years ago.

I am ready to accept this if you are ready to accept that BTC has no value as well.
Bitcoin, created out of thin air and the birth certificate for its creation recorded for the future generation... not redeemable for anything ever, btw.