Guys why are people dumping the sh** out of BTSX? I was just on BTER and a half a million dump happened in front of my eyes.
Not to mention that BTSX has lost over 40% in the last couple of weeks. Is this connected to the Bytemaster recent plans of unification of all the DACs?
I think it's going to get much worse in the future and yes I think it's connected to Bytemasters very bad idea. BTSX is something no one will want to hold if there is inflation which means everyone is now looking to either cash out of the system completely or to find some BitAsset.
A lot of people put a lot of money into this and they don't want to be the bagholder. Inflation guarantees that someone is going to be a bagholder in the short term which is why it shouldn't be discussed right now. Bitshares X and the ecosystem isn't yet at a market cap or growth rate where it makes any sense to discuss inflation.
If you inflate while the entire crypto-economy is in a tailspin with even Bitcoin crashing it just doesn't help in my opinion. I think when there are several separate DACs this spreads the risk which is better for investors. It allows investors to easily diversify themselves.
So the idea of unification at least in my opinion could mean unification of risk as well and so I think it's too soon. It's not necessarily always going to be a bad idea but it's a bad idea for right now and discussing it is disrupting the equilibrium.
A successful streamline to BTS massively increases the value and marketability of the technology.
Yes, this is clearly the time to buy.
I'm just mad that I bought a lot yesterday before all this happened.
The problem is a lot of people don't know how to hedge or how to get out in a smart way. As a result they cash out the centralized way instead of buying BitUSD/BitBTC/BitGLD.
If you don't want BTSX prices to drop through the floor you have to tell people the right way to save their wealth. The way to do this is to buy a BitAsset because these pay interest.
The question is whether or not the interest rate outpaces the inflation rate. Inflation alone isn't bad if the economy is growing but right now the economy is shrinking. If we look at coinmarketcap.com then we can see the total market cap for all coins is shrinking with Bitcoin.