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[ANN] [USDbitfnx]The first dividend paying USD asset(~30%p.a.) !!>250 DAYS OLD!!  
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Author Topic: [ANN] [USDbitfnx]The first dividend paying USD asset(~30%p.a.) !!>250 DAYS OLD!!  (Read 75194 times)

sparta_cuss

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #160 on: July 24, 2014, 11:25:46 am »

Wouldn't it be possible to make a quick ~12% gain on Nxt by sending BTC to you, getting the assets, and then selling the assets on AE just below your offering price of 24.5?

I know this would not add as much liquidity to Bitfinex, but as long as your fee to do the deposit is so high, it encourages this arbitrage, doesn't it?

It isn't really arbitrage but yes, totally possible, also this would increase the liquidity! The more USD gets deposited, the higher the demand to trade should get.

But obviously, I would also lower my offer if someone would undercut me. That is what a market maker does ;) (As soon as we reach a good amount of USD, I will post a relatively good BID/ASK spread.)

Cool! Let the games begin!  ;)

Not really. I'm no whale, so I think I'll keep most of my assets and just collect the dividends.
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nxt: NXT-Z24T-YU6D-688W-EARDT
btc/xcp: 19ULeXarogu2rT4dhJN9vhztaorqDC3U7s

Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #161 on: July 24, 2014, 11:36:55 am »

Wouldn't it be possible to make a quick ~12% gain on Nxt by sending BTC to you, getting the assets, and then selling the assets on AE just below your offering price of 24.5?

I know this would not add as much liquidity to Bitfinex, but as long as your fee to do the deposit is so high, it encourages this arbitrage, doesn't it?

It isn't really arbitrage but yes, totally possible, also this would increase the liquidity! The more USD gets deposited, the higher the demand to trade should get.

But obviously, I would also lower my offer if someone would undercut me. That is what a market maker does ;) (As soon as we reach a good amount of USD, I will post a relatively good BID/ASK spread.)

Cool! Let the games begin!  ;)

Not really. I'm no whale, so I think I'll keep most of my assets and just collect the dividends.

;) No reason to not earn an extra buck. Also keep in mind, with a good trading strategy you could exploit the fact that every 2 weeks on the payment day an abritrage opportunity arises (buying USDbitfnx before dividend and selling after receiving)
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Bitfinex_USD

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #162 on: July 24, 2014, 11:42:53 am »

Forum Administrator Damelon agreed to do an audit once a month, starting from the point we reach 10,000 USD in the bitfinex account! Thank you!
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jefdiesel

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Re: [ANN] [USDbitfnx] The first dividend paying USD asset (~60% per anno)
« Reply #163 on: July 24, 2014, 11:43:57 am »

The sale price for USDbitfnx is 24.5 but there is only 44 buy on the book at 20nxt

I see NXT at 4.6 cents now, so people are only paying $.92 on the market.. so there might be the perception of a market gap, there isn't any liquidity, nor is there any market for selling at the moment.

But this is all new, so lets see where it goes.
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Bitfinex_USD

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The sale price for USDbitfnx is 24.5 but there is only 44 buy on the book at 20nxt

I see NXT at 4.6 cents now, so people are only paying $.92 on the market.. so there might be the perception of a market gap, there isn't any liquidity, nor is there any market for selling at the moment.

But this is all new, so lets see where it goes.

Nearly no-one knows about this asset and only about 6000 USDbitfinex are spread amoung people. I guess in about 1-2 weeks we will see some better liquidity in the market.

Also 24.5 is not the "sale-price" it is only an option to buy, the preferred way is to deposit BTC directly to bitfinex, thus resulting in a price at around 21.5-22 NXT
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jefdiesel

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Sorry I meant "Sell price"
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Bitfinex_USD

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You can now buy more USDbitfnx @ 23.5 NXT (~2338 USD) in the NXT AE.

Once someone buys them I will use the NXT to deposit at bitfinex and gather more USD. This way the asset will get more liquid every day!
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Bitfinex_USD

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You can now buy more USDbitfnx @ 23.5 NXT (~1200 USD) in the NXT AE.
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Bitfinex_USD

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Market maker account:

BID: 21.2 NXT (100 USD)
ASK: 23.5 NXT (1200 USD)
Spread 2.3 NXT or ~10%
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Bitfinex_USD

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Current bitfinex.com account balance:



9193 USD

This equals $4538 net new deposits today until now.
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Bitfinex_USD

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You can now buy more USDbitfnx @ 23.25 NXT (~1150 USD) and @23.5 NXT (~1120 USD) in the NXT AE.
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dandruff1138

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Ok... I am not very smart man. After I purchase asset on AE, then what?
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Bitfinex_USD

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Ok... I am not very smart man. After I purchase asset on AE, then what?

Hi,

After you purchase the USDbitfnx asset you can use it for different things:

- Hold it to diversify your NXT portfolio. This works nicely, because USD and NXT is completely uncorrelated. Holding a mix of USDbitfnx and NXT will guaranteed take volatility out of your portfolioworth. (Less swings!)
- You can directly send USD to other NXT users without bothering to check the NXT price all the time
- You can just hold it and enjoy the ~1.5% interest you will get every 2 weeks (about 50-60% per year)
- Buy it and trade with it to exploit the swings and profit from the spread.

As you can see, it has many purposes and I am sure that within 2 months, we will have a lively market going for USDbitfnx, where you will be able to cashout/cashin multiple thousands of USD without moving the market!
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Bitfinex_USD

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Interest:

Day 1: $2.12
Day 2: $8.90

Accumulated: $11.02

Details can be found here: https://docs.google.com/spreadsheets/d/1bSej427-QIqm3ls-r3pIwV8XWWEm1aul9I2ToDIzHzA/pubhtml

The daily interest payment is increasing fast, this is due to huge deposits coming through every day. This also has a negative effect for the first dividend payment: Funds that where deposited later then others, will receive proportional dividend even if they weren't here in the first days. This will obviously become a lesser problem once the amount of funds deposited stays more constant.

Regards
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dandruff1138

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Ok... I am not very smart man. After I purchase asset on AE, then what?

Hi,

After you purchase the USDbitfnx asset you can use it for different things:

- Hold it to diversify your NXT portfolio. This works nicely, because USD and NXT is completely uncorrelated. Holding a mix of USDbitfnx and NXT will guaranteed take volatility out of your portfolioworth. (Less swings!)
- You can directly send USD to other NXT users without bothering to check the NXT price all the time
- You can just hold it and enjoy the ~1.5% interest you will get every 2 weeks (about 50-60% per year)
- Buy it and trade with it to exploit the swings and profit from the spread.

As you can see, it has many purposes and I am sure that within 2 months, we will have a lively market going for USDbitfnx, where you will be able to cashout/cashin multiple thousands of USD without moving the market!

I guess my question is how do I recieve the interest? Do I have to have an account there as well?
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Bitfinex_USD

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Ok... I am not very smart man. After I purchase asset on AE, then what?

Hi,

After you purchase the USDbitfnx asset you can use it for different things:

- Hold it to diversify your NXT portfolio. This works nicely, because USD and NXT is completely uncorrelated. Holding a mix of USDbitfnx and NXT will guaranteed take volatility out of your portfolioworth. (Less swings!)
- You can directly send USD to other NXT users without bothering to check the NXT price all the time
- You can just hold it and enjoy the ~1.5% interest you will get every 2 weeks (about 50-60% per year)
- Buy it and trade with it to exploit the swings and profit from the spread.

As you can see, it has many purposes and I am sure that within 2 months, we will have a lively market going for USDbitfnx, where you will be able to cashout/cashin multiple thousands of USD without moving the market!

I guess my question is how do I recieve the interest? Do I have to have an account there as well?

In the NXT network, it is possible to send assets. Twice each month, I will send out the dividend with USDbitfnx assets.

Example: On the dividend day, you hold 1000 USDbitfnx. The dividend for the last 2 weeks is 2%. So I will send you 20 USDbitfnx to your NXT acccount. Your final balance will be 1020 USDbitfnx then.

Everything clear?

Regards
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dandruff1138

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Ok... I am not very smart man. After I purchase asset on AE, then what?

Hi,

After you purchase the USDbitfnx asset you can use it for different things:

- Hold it to diversify your NXT portfolio. This works nicely, because USD and NXT is completely uncorrelated. Holding a mix of USDbitfnx and NXT will guaranteed take volatility out of your portfolioworth. (Less swings!)
- You can directly send USD to other NXT users without bothering to check the NXT price all the time
- You can just hold it and enjoy the ~1.5% interest you will get every 2 weeks (about 50-60% per year)
- Buy it and trade with it to exploit the swings and profit from the spread.

As you can see, it has many purposes and I am sure that within 2 months, we will have a lively market going for USDbitfnx, where you will be able to cashout/cashin multiple thousands of USD without moving the market!

I guess my question is how do I recieve the interest? Do I have to have an account there as well?

In the NXT network, it is possible to send assets. Twice each month, I will send out the dividend with USDbitfnx assets.

Example: On the dividend day, you hold 1000 USDbitfnx. The dividend for the last 2 weeks is 2%. So I will send you 20 USDbitfnx to your NXT acccount. Your final balance will be 1020 USDbitfnx then.

Everything clear?

Regards

I think, thank you for the explanation, I am new to this AE thing!
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SamIbandii

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Hello USDbitfnx,
I 'm thinking about joining. What is the current market price for 1 asset?
And because I 'm relatively new to this I'd like to know how to proceed ?


Best regards

PS: I have a NXT wallet active since July 6th.



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sparta_cuss

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Hello USDbitfnx,
I 'm thinking about joining. What is the current market price for 1 asset?
And because I 'm relatively new to this I'd like to know how to proceed ?


Best regards

PS: I have a NXT wallet active since July 6th.

Here you can see all the info on the asset.
http://nxtreporting.com/?as=10294386916428132892

To "join," you simply purchase this asset on the Asset Exchange. Are you familiar with how that works?
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SamIbandii

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Thanks for the quick reply.
I've studied the wiki page about the Asset Exchange.
So I think I'll manage.

Best regards from Holland,

SamIbandii
NXT-3JJY-EHRA-NWRY-ALFCT
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