The BitShares committee has been working towards achieving parity between the bitAssets (bitUSD/bitCNY) and their fiat counterparts. For some background on these challenges you can review A Microeconomic Introduction to Market-Pegged Assets on BitShares here: https://bitsharestalk.org/index.php?topic=26758.msg322139#msg322139
Recall that a bitUSD is collateralized by BitShares. In order to make one bitUSD worth one USD we seek to denominate bitUSD as X number of BTS (the inverse also expresses the market price of BTS - math is fun!). However when the value of BTS in one bitUSD surpasses one USD the overall market suffers from inefficiencies and arbitrageurs. BitShares improvement proposal (BSIP) 42 was intended to give bitUSD price feed producers sufficient leeway to adjust towards the optimal level. This move has not been without controversy: https://bitsharestalk.org/index.php?topic=26966.15
BitUSD holding strong despite the overall market destruction. This is a real testament to the years of experience that BitShares has over the competition. If you have any questions about BitShares or crypto in general let me know in the comments!
Please consider voting for 'johnr' on committee.
You got 94.80% upvote from Yensesa. Thank you for your continues support of Yensesa Exchange and being a member of Yensesa Residual Income
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It is good to see you back, even when you write about something that I don't understand. :=)
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@ronaldoavelino you are my best friend on steemit hands down. I hope all is well with you! Have you heard about WhaleShares? I am going to be posting on both for the time being but plan to eventually spend more time there vs. steemit.
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