2014.11.3 Mon.-Bitshares Daily Briefings(Global Version)- Alt agrees with BM about PEG worksEditor's note:
These days I've been unable to release a daily briefing due to a unexpected cold , I'm really sorry to let you guys down . The the price of BTS is even more lower than before . So , I guess telling you to calm down would not help . But , there are still some good news coming from these days . And , we're still dreaming , right ? Here's a funny quote
that will let you laugh : Some people get so rich they lose all respect for humanity. That's how rich I want to be.
- ----Rita RudnerAlt repeated BM's word , "The peg works" .
You guys remember Alt , the guy who crashed the BitsharesX dry run for multiple times couple months ago , the guy who is loved by Toast , Bytemaster and so many people in this forum , just announced in one QQ group tonight : "The USD peg really works , just like Bytemaster said , in 8 days , the peg would be more significantly accurate . "
Wow , do you guys have more confidence in the peg now ? Coming from him , I don't think I need to tell you what it means .
Alt also pointed out that the value of BitUSD is being emphasized during the rapid price drop of BTSX , you can see strong buy order of BitUSD in the inner-market .
He even offered to accept BitUSD and pay for my online purchase at a 1% fee .Stan released *Draft* October Newsletter - Halloween Edition
Stan just released the *Draft* October Newsletter - Halloween Edition , the only reason I want to bring this up is that it was set to "sticky" on top of the forum . But I find that odd that it's actually hard for people to focus on the sticky threads , it's just like the corner of your eye , you know something might be there , but you just don't even bother to look at it .
In the Newsletter , stan explained why the merger had to happen , and the detailed allocation plan for 11.5 snapshot. https://bitsharestalk.org/index.php?topic=10844.0Chinese community: harvest chives
These is a slang term around the crypto currency community in China ------harvest chives.
Only people had experience with chives would know : You can harvest the same chives over and over again , and it still grows .
In the crypto currency market , big day traders use big funds to pump and dump the market , and many people with little experience in investment would fall for this trap : When the crypto are being pumped , people rush in to buy at high price , and then the big trader dump it , the price would be down , people panic , sell at a low price , lost a lot of money . Is it the end ? Of couse not !
The big day trader would wait until everybody sell low , and then suddenly pump the price again ! So , the people who just lost his money on "buy high , sell low " , couldn't resist the temptation to earn back what he just lost , so he buys high again ! But .....as you can imagine , the price would be down again shortly after he buys it . What can this poor guy do now ? He panic again ..then sell it at a low price again ...
Yeah , after all these pumps and dumps , the big whales successfully "harvest chives" from the guy , and the guy now owns less money and less crypto coin than what he had before .
This little story tells us : If you don't have experience , do not try to earn from short term trading ! Otherwise , you would be a tasteful "chives" for the big traders . Why do we ordinary guys always have to be "chives" ? The 50-50-90 rule: Anytime you have a 50-50 chance of getting something right, there's a 90% probability you'll get it wrong.
Chinese Version of this daily briefing : https://bitsharestalk.org/index.php?topic=10930.0