Ok, everyone is getting you worked up over HITH, this is NOT HITH. What is happening is all because your tank is not cycled. HITH is mainly caused by an improper diet with lack of suffcient nutrients, COMBINED with poor water quality. The skin sloughing off is probably because when you added him to the tank you had a massive ammonia build up, which caused burns on the fish, thus killing off the skin and thats why its falling off. The holes in the fins and such are also most likely because of the same thing. The "Cob webbs" are not a sign of things growing back naturally, its a bacterial or fungal infection. First what you need to do is at least 75% daily water changes, simply because the tank is not cycled. The next best thing to do is add 1/2 cup of salt to the tank for ever 10 gals. I'm gonna get crap for saying that, but I do it with my discus, and I know well known breeders that do it with their discus. If the Discus are fine with it, the oscar will be too. The salt at those dosing levels should be enough to get rid of the bacterial/fungal infection. Now remember salt only leaves the tank when you do a water change, so after taking 75% of the water out, you would put 75% of a maximum salt dose in with EACH water change. Another thing you should do is get some extra airation in that tank, put a couple extra air stones in there and get them going. This provides more oxygen in the water and makes it easier for the fish to utilize the O2, and provide further reduction of the effects of the ammonia and nitrite on the fish. Along with doing this, you may want to consider treating the tank with Maracyn and Maracyn II, this combined with the salt, WILL kill off the infection that he has going.
