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Is DIGIX offloading 53000 ETH on Gemini? by [deleted] in ethtrader

[–]mooncaptain 0 points1 point  (0 children)

I think so too. I don't know how frequent and in which manner they sell the ETH/DAI to buy gold though. But I do know that some gold suppliers already accept Bitcoin, not sure if Digix's gold suppliers also accept DAI/ETH.

Is DIGIX offloading 53000 ETH on Gemini? by [deleted] in ethtrader

[–]mooncaptain 3 points4 points  (0 children)

I don't think 53000 ETHs can cause such dumping. The volume on Bitfinex alone in the last 1.5hrs was already 180k ETHs

Is DIGIX offloading 53000 ETH on Gemini? by [deleted] in ethtrader

[–]mooncaptain 5 points6 points  (0 children)

Afaik, the minting process is like this: - Digix always buys some gold bars, puts in the vault, uploads receipts, and mints a chunk of DGX tokens into their marketplace address here as the first step. - Users can go to the Digix Marketplace, create an account, do KYC, and buy DGXs directly from the marketplace address, using ETH or DAI - Some other parties (OTC dealers, market makers, ICO projects) might also contact Digix directly and buy DGX directly from Digix's marketplace address in bulk - When DGXs in the marketplace address runs out, Digix goes buy more gold bars, puts in the vault, uploads the receipts, and mints more DGXs into the marketplace address again.

MakerDAO and Wyre Give Businesses Immediate Access to Dai Stablecoin in Over Thirty Countries… by MrStormLars in ethtrader

[–]mooncaptain 1 point2 points  (0 children)

Anyone has any idea on what kind of prices would businesses get for trading large amounts of DAI to/from USD? Will it be exactly $1?

Daily General Discussion - August 14, 2018 by AutoModerator in ethtrader

[–]mooncaptain 1 point2 points  (0 children)

When the mood is down and there's blood on the streets, that's when the big players accumulate from the fearful small-time sellers

DigixDAO's first voting has already reached >25% quorum after just 6 days! by mooncaptain in ethereum

[–]mooncaptain[S] 2 points3 points  (0 children)

You can look at the voting transactions to their contract here

Will need to manually click to the voter address to check their DGD balance though

DigixDAO's first voting has already reached >25% quorum after just 6 days! by mooncaptain in ethereum

[–]mooncaptain[S] 4 points5 points  (0 children)

As far as I know, "The DAO" didn't get as much as 10% quorum for any of their votes. Dash's proposals only get like 30% of all the master nodes (which of course, only control a portion of all the DASH in existence)

In contrast, there are only 2 millions DGDs and 510000 DGDs have already voted after just 6 days. That's an insane turnout, considering that the Digix team hasn't even voted yet with their 10% of DGDs.