Competing pegged currencies - bitUSD

I just had a look at and I wonder how long it takes until somebody throws the exchange rate of bitUSD in Bitshares’ face.

Yesterday there was someone claiming that yesterday’s exchange rate ($1.13) was due to low 24h volume ($288) and the rate would be closer to $1 if only bitUSD had more volume.
Yesterday it looked like this:

Today and with a little more volume ($8348) it looked like this ($1.25):

The status 5 minutes ago was (volume $10,713; rate $1.34):

I wonder what Dan Larimer says about this…


Wow, that’s pretty off the mark.

Here’s an explanation for the bitUSD glitch:
…not so pegged after all…

Bitshares currently up 40% today? lol! How can anybody seriously want to buy that after seeing how poorly their peg is being kept. It’s just not reliable when needed.

Oh, I think it was the other way round - Bitshares surged and as a result bitUSD got expensive.
I wonder whether it’s more the way coinmarketcap shows the information than a real problem.
Wouldn’t be the first time that the information from coinmarketcap needs to be taken with a pinch of salt.

Nope, that’s really how it goes. We keep a reward whether or not we’re in serious danger. They spike their reward sky high once they’re already there.

But we probably shouldn’t pick on them too much.

I would have found a broken peg in the other direction worse, but all who want to buy bitUSD now need to wait or pay an uplift of - wait a second, let me have a look - 40%!

I think it’s worth noting that even at Bitshares all that glitters is not gold.

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It only shows that bitUSD is not a currency at all, but merely a derivative from bitShare.

this is good “advertisement” for NU. :wink:
i mean not by using it in a commercial spot but rather making the comparison by the users :wink:

Some hours later…
bitUSD: volume $11,876, 1 bitUSD = $1.26

NBT: volume $39,363, 1 NBT = $0.998776

I really feel like picking on them :stuck_out_tongue:
…might be in remembrance of all the bashing and all the pejorative behaviour by some Bitshares’ guys roughly a year ago. I might forgive, but I rarely forget :wink:


what about this?

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Somebody was explaining 6 days ago the bitUSD volume were the reason for the high bitUSD price.
The volume has increased, so did the bitUSD price - and no, it didn’t look much better in the last days; follow the reddit thread if you can stand it…

Here is the same information for NuBits.
Allow me the question:
what would you rather buy?

Btw - can anybody explain how to interpret this:,18260.msg235393.html#msg235393?
I read it as there is no continuous testnet for Bitshares 1.0, but it is proclaimed to have such a testnet for Bitshares 2.0.
No testnet, seriously?


There is a tesnet. Search for devshares. It exists during this actual version and will exist with 2.0. Original devshares (testing units with no value on a separate chain) will be migrated too if I’m not mistaken and from what I remember reading

Yeah, maybe a testnet, but no stability of bitUSD.
I don’t know what caused the slump of the bitUSD price. Maybe a “market (over)correction”…:


Just in case somebody missed it - the series of bitUSD reports was continued:

In a nutshell: bitUSD is far from being a pegged crypto currency - at least compared to NBT!
With recognized price swings between $1.40 and $0.987796 in the last week it’s no wonder they have trouble with liquidity.
Who wants to have such a volatile stable currency?

Last entry from there:


An update because of Nu’s first anniversary:

2015-09-23, 09:11 UTC, Volume $ 1,046, 1 bitUSD = 1.13:

2015-09-23, 09:12 UTC, Volume $ 53,206, 1 NBT = 0.998480:


And on the day after NuBits’ anniversary it doesn’t look very different:

2015-09-24, 16:20 UTC, Volume $ 9,790, 1 bitUSD = 1.10:

2015-09-24, 16:20 UTC, Volume $ 22,477, 1 NBT = 1.00:

So BitUSD is not pegged currency anymore ?

Just look into bitUSD’s past year - and come to your own conclusion:

In the first months it was quite ok.
But beginning April 2014 there was no more real peg I could identify as such…


Wow, what’s going on? The BTS market cap has gone up in recent weeks, but I don’t really pay attention to that community anymore. Is the inability to hold a peg being addressed? Is it even acknowledged as a problem? Do they simply ascribe it to not enough market makers? If so, how many more do they need?

I understand you are not in a position to defend them, but this strikes me as nothing short of a crisis that is evidently not being dealt with. Perhaps @chronos can provide some insight as he is/was a paid Bitshares delegate.

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