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Wed Jul 26 17:19:40 UTC 2017 <scatha> It's actually the earliest attempt at a decentralized market.
Wed Jul 26 17:14:44 UTC 2017 <kakobrekla> also is there a central authority that takes the collateral?
Wed Jul 26 17:14:37 UTC 2017 <scatha> if you issue, for example, BitUSD, and BTS rises, you can later buy back your BitUSD for an even smaller amount of BTS so you have a leverage.
Wed Jul 26 17:12:49 UTC 2017 <scatha> mostly, to bet on a rising BTC price
Wed Jul 26 17:12:36 UTC 2017 <kakobrekla> why would you issue a thing there?
Wed Jul 26 17:10:06 UTC 2017 <scatha> as opposed to NuBits which had a big breakdown (no surprise, they ARE in fact structured like a Ponzi)
Wed Jul 26 17:09:04 UTC 2017 <scatha> They are backed with a certain amount of BTS by the issuers who issue them by lending it into existence against at least a 2x amount of BTS as collateral... Any user can do that.. (( actually all this is off-topic on this channel isn't it ? ))
Wed Jul 26 17:03:04 UTC 2017 <scatha> so it is perhaps like a predecessor of ETH, except it's simpler.
Wed Jul 26 16:56:31 UTC 2017 <kakobrekla> i dont know what would be a better term
Wed Jul 26 16:55:00 UTC 2017 <scatha> even if you don't hold for a year? .. great !
Wed Jul 26 16:54:37 UTC 2017 <kakobrekla> btc is a currency and trading currency is tax free
Wed Jul 26 16:54:18 UTC 2017 <scatha> What are the "tax rules" in Slovenia ? .. Here it's still a grey area, nobody knows anything.
Wed Jul 26 16:49:01 UTC 2017 <scatha> also recently, I depostied 10k€ (cash) in a bank in Hungary, they asked for passport but didn't ask where the money came from. So- still a little better than in poor old Germany.
Wed Jul 26 16:48:46 UTC 2017 <kakobrekla> its a boutique country
Wed Jul 26 16:44:43 UTC 2017 <kakobrekla> q: "a ok. carray on."
Wed Jul 26 16:44:36 UTC 2017 <kakobrekla> a: "btc otc"
Wed Jul 26 16:43:26 UTC 2017 <kakobrekla> had generally a good experience with them
Wed Jul 26 16:43:04 UTC 2017 <kakobrekla> they been around for a while
Wed Jul 26 16:40:17 UTC 2017 <scatha> a huge leveraged short would have been better though- as I have been planning
Wed Jul 26 16:19:07 UTC 2017 <pankkake> it wouldn't be a normal year without an exchange fuckup. at least I'll win a bet :p