Author Topic: locked 84M BTS  (Read 2675 times)

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Offline MarkoPaasila

That is the spirit!! +5% +5% If everyone could follow your example bts would be worth x20 more than what it is..
Could someone explain what bitcrab has actually done?
How could I do it too?

For us noobies and newcomers :)

  • Go to the exchange
  • Choose the exchange tab
  • Select bitUSD or bitCNY markets
  • Pick any market pair
  • Find the BORROW USD or BORROW CNY. Press it.
  • Choose how much to borrow
  • Slide slider to about 2.5
  • Confirm
  • Now you have locked in 2.5 times the amount you just borrowed, in BTS
  • Buy something with the new bitUSD. This will put you into a leveraged long position on BTS+whatever you bought, and you have just short selled some USD
Thanks for the info! Good to have it laid out here on a public forum for future users to read

I'm struggling to find many "How to" videos to teach people why the BTS DEX (the product) is worth using and how one might use it to use it to trade profitably

So what you are describing means(?):
Example.
I hold 1000bts.
The current price is 231bts per 1 bitUSD.
1000bts/231bts = 4.32. Does this mean I can borrow $4.32bit?

Or, does one need to provide x2.5 collateral?
1000bts/2.5 = 400bts available to buy bit$. Meaning able to borrow (400/231)=$1.73bit?

Either way, can this borrowed bitUSD be spent buying more bts?

How much leverage does a bts shareholder achieve using this method?

With 10$ worth of BTS and 2.5x collateral, you can borrow 4$. Then you can sell that 4$ for 4$al worth of BTS, after which you have 1.4$. Thus Bitshares gives you 1.4 x leverage. (Ploniex gives you 2.5x initial, collateral at 40%. Lets collateral go down to 20%). On Bitshares the leverage is free - you dont pay any rent.

Offline Permie

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That is the spirit!! +5% +5% If everyone could follow your example bts would be worth x20 more than what it is..
Could someone explain what bitcrab has actually done?
How could I do it too?

For us noobies and newcomers :)

  • Go to the exchange
  • Choose the exchange tab
  • Select bitUSD or bitCNY markets
  • Pick any market pair
  • Find the BORROW USD or BORROW CNY. Press it.
  • Choose how much to borrow
  • Slide slider to about 2.5
  • Confirm
  • Now you have locked in 2.5 times the amount you just borrowed, in BTS
  • Buy something with the new bitUSD. This will put you into a leveraged long position on BTS+whatever you bought, and you have just short selled some USD
Thanks for the info! Good to have it laid out here on a public forum for future users to read

I'm struggling to find many "How to" videos to teach people why the BTS DEX (the product) is worth using and how one might use it to use it to trade profitably

So what you are describing means(?):
Example.
I hold 1000bts.
The current price is 231bts per 1 bitUSD.
1000bts/231bts = 4.32. Does this mean I can borrow $4.32bit?

Or, does one need to provide x2.5 collateral?
1000bts/2.5 = 400bts available to buy bit$. Meaning able to borrow (400/231)=$1.73bit?

Either way, can this borrowed bitUSD be spent buying more bts?

How much leverage does a bts shareholder achieve using this method?
JonnyBitcoin votes for liquidity and simplicity. Make him your proxy?
BTSDEX.COM

Offline MarkoPaasila

That is the spirit!! +5% +5% If everyone could follow your example bts would be worth x20 more than what it is..
Could someone explain what bitcrab has actually done?
How could I do it too?

For us noobies and newcomers :)

  • Go to the exchange
  • Choose the exchange tab
  • Select bitUSD or bitCNY markets
  • Pick any market pair
  • Find the BORROW USD or BORROW CNY. Press it.
  • Choose how much to borrow
  • Slide slider to about 2.5
  • Confirm
  • Now you have locked in 2.5 times the amount you just borrowed, in BTS
  • Buy something with the new bitUSD. This will put you into a leveraged long position on BTS+whatever you bought, and you have just short selled some USD

Offline Permie

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  • Posts: 606
  • BitShares is the mycelium of the financial-earth
    • View Profile
  • BitShares: krimduss
That is the spirit!! +5% +5% If everyone could follow your example bts would be worth x20 more than what it is..
Could someone explain what bitcrab has actually done?
How could I do it too?

For us noobies and newcomers :)
JonnyBitcoin votes for liquidity and simplicity. Make him your proxy?
BTSDEX.COM

Offline fractalnode

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Offline mf-tzo

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That is the spirit!! +5% +5% If everyone could follow your example bts would be worth x20 more than what it is..

iHashFury

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impressive

Offline CLains

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Offline llildur

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Offline Chris4210

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Offline DestBest

Well done man, way to go +5%
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Offline GChicken

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That is an awesome effort Bitcrab!!! 3% of available supply locked to the BitUSD Market!!
  +5% +5% +5% +5% +5% +5% +5% +5% +5% +5% +5% +5% +5%

Offline bitcrab

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