Centralized Exchange Coinbene started offering bitCNY Markets.
Available Pairs
- BTC/bitCNY
- ETH/bitCNY
- SWTC/bitCNY
- MOAC/bitCNY
- USDT/bitCNY (sweet irony)
bitCNY gets a lot of love and adoption from Chinese Exchanges, which is super awesome!
Hopefully western exchanges follow their lead and start adding bitUSD soon.
There are currently 588,622,490.9279 bitCNY in circulation (~$90,564,279)
Buy and Sell Steem & Steem Dollar at best rates!
BitUSD being adopted would be incredible. Since it requires locking up BTS as collateral, reducing available supply.
Not sure why exchanges all jumped on USDT instead. It is that much superior or has Tether just been more successful at marketing?
Is there a BitUSD vs USDT (tether) article somewhere?
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There is no way to realy compare them tho...
Tethers are just a made up thing realy, they are not backed by anything digital or real in any way,
they claim to hold real dollars in some undisclosed locations... but thats nonsense.
Now bitUSD on the other hand is backed by atleast 100% its value in Bitshares (BTS),
most of the time allot more, and can be backed by anyone using the dex.
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Right, so why would USDT be the one that is on all exchanges? Wouldn't it make sense for the exchanges to put the third party-less USD token (BitUSD) on their exchange instead of Tether's?
In fact, you (as an exchange) could buy and hold some BTS first and THEN add BitUSD as the USD token of choice on your exchange, that would most likely make your BTS holdings go up in value. especially if more exchanges followed suit.
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Your thoughts are wonderful , okey , well what is the road we need to follow now?
@cob
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Very true, bts will go up when people create bitUSD, as more bts will be put away.
We already see this happening on allot of major chinese exchanges who are using the bitCNY
I think the biggest reason some exchanges use usdt, is because its allot easier for them, they can just change numbers and create usd for themselves.
Thats kind of a problem with centralized exchanges in general tho, hence why i love the bts decentralized exchange.
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Great news :)
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More good news!! Thank you for this information.
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Bigg news
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