Hey @steempower I was at the CRS event in LA and it was great. This post really helped me get a better grasp on the platform also watching the presentation again helped. I have a question maybe you can help.
If I have BTC in an outside wallet. I can buy BTS with it on Bitshares exchange, then I can borrow bitUSD and buy bitBTC?? Or buy BTC?? And have BTS as collateral.
Thanks for your posts again!!
Hi @tyty24, Thanks for leaving me a comment; i was wanting to hear from someone at the CRS event; Looked like a great conference!
Apologies for the delay; If you have BTC in an outside wallet you would need to deposit it with Bitshares first (you can use the Deposit/Withdraw tab in the wallet) and use the OpenLedger Gateway and select Deposit.
Once you have your BTC in Bitshares you can buy BTS of the Decentralized Exchange (Exchange tab).
Once you have Bitshares (BTS) you could borrow/short BitUSD into existence using your BTS as collateral. Then once you have BitUSD you could buy what ever you like (BitBTC, more Bitshares, the latest ICO or convert it back to fiat if you really want to). Either way the Bitshares you used as collateral are still your but they are 'locked' as collateral until you pay back your bitUSD debit and if the CRS event is anything to go by you would just hold that collateral on the network until you can buy back your borrowed BitUSD for cheap.
Then you have had your cake and eaten it too :)
BTW, If you are not already on; i recommend you join the 'BitsharesDEX' telegram group, would be great to see you there and get some insights on the event. not to mention its a great place to hangout and chat or ask any technical questions ect..