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RE: Bitshares - A Lambo Parked in a Farm Barn

in #bitshares • 7 years ago

Thanks ashaman. I slightly disagree that we should not list BTS on other exchanges and only worry about listing bitUSD/bitCNY/HERO.. These are just bitassets derived by the BTS which is the "core". The core is what really carry the value.. and how it would be when more Bitassets are created? Would we need to have all them listed on these other exchanges too? Well, there is no right or wrong.. I appreciate your perspective and respect that too.. ;)

7 years ago in #bitshares by
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     7 years ago 

    I didn't say that we shouldn't get BTS listed on exchanges, only that getting price stable SmartCoins listed is more important. bitAssets are created when holders of BTS borrow them into existence. If there is a demand for a bitAsset on an exchange, its price will rise relative to BTS on that exchange, creating an arbitrage opportunity that can be exploited by satisfying the demand. Every bitUSD or bitCNY is at a minimum $1.75 of BTS removed from circulation because it is locked in a smart contract. Every HERO is 2 HERO worth of BTS removed from circulation. Demand for bitAssets will increase the scarcity of BTS twice as fast demand for BTS itself would.