Author Topic: Why BTS is falling like this?  (Read 13681 times)

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Offline Ander

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... for me, once we have the debit card functionality i would like to start banking with BitUSD and start holding more and more BTS. Its ease of use that makes a difference. We're getting there though.

Yes, this will be enormous!
Once people actually start using BTS as their bank, it will have several positive effects:

* Buying bitUSD will add indirect upward pressure on BTS price.
* It will increase liquidity and volume in bitUSD.  This will both look good, attracting investors, and make the pg track more closely.
* They will be earning interest on their bitUSD at a rate greater than their previous bank account, and will see the stability and functionality of bitshares.  This will give them the confidence to invest into BTS even more.
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Offline mike623317

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More onramps are in the works, both the official marketing team and the community marketing team are working on these, both to buy BTS as well as directly into bitassets.  Its going to take some time though. 

Great. We cant have everything at once, so as long as its do'able and people are moving the ball forward .. thats good news.


"We need to get those shares into strong hands who want to hold for the long haul.  This has been occurring to some extent, but clearly its not finished yet, since here we are, the dumping continues."

... for me, once we have the debit card functionality i would like to start banking with BitUSD and start holding more and more BTS. Its ease of use that makes a difference. We're getting there though.

Offline Ander

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Just wondering ... Has bytemaster said anything about being able to convert fiat to bts?

Thanks
Mike

More onramps are in the works, both the official marketing team and the community marketing team are working on these, both to buy BTS as well as directly into bitassets.  Its going to take some time though. 



Regarding the price, it has been disappointing how much of the 'pump' to .135 that we gave back this week.  Certainly I thought that with all the bullish market technicals and all the community excitement regarding new marketing efforts and successes, that we would mostly move sideways and then up. 

But it just goes to show you that right now, most of the price moves in BTS are due to the whales trading on btc38. 

We need to get those shares into strong hands who want to hold for the long haul.  This has been occurring to some extent, but clearly its not finished yet, since here we are, the dumping continues.

At some point, it will end.  We arent hitting lower lows anymore.  In fact, it looks like that dump to .106 CNY was another low, which would be a full .025 CNY higher than the previous low. 

While we arent seeing an exciting rally, we are seeing a downward trend turn to a sideways trend, with higher lows, and this will lead in time to the rally we want.
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Offline mike623317

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Quote
Buying bitshares takes way way to long and it involves coverting fiat to bitcoin then bitcoin to bitshares.  Until you can buy bitshares straight with fiat...

Just wondering ... Has bytemaster said anything about being able to convert fiat to bts?

Thanks
Mike

Offline lil_jay890

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So... coming back on the OP...Why we are falling again? a week ago there was a nice pump with some decent volume and since then fall again despite the nice developments and snapshots... This doesn't create much confidence so I was wondering of potential explanations..

Because its been the same money sloshing around in bitshares for the last 6 months.  I would say more people left because of the dilution and we havn't gained that back despite additional accounts.  Buying bitshares takes way way too long and it involves coverting fiat to bitcoin then bitcoin to bitshares.  Until you can buy bitshares straight with fiat we are destined to slosh around in this 30-50 mil market cap range.

Remember the rule of trading:

More buyers than sellers = price increase

We've had the same buyers for months
« Last Edit: December 05, 2014, 05:21:27 pm by lil_jay890 »

Offline liondani

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So... coming back on the OP...Why we are falling again? a week ago there was a nice pump with some decent volume and since then fall again despite the nice developments and snapshots... This doesn't create much confidence so I was wondering of potential explanations..

Maybe you think I am crazy but I like the trade diagram right now... I think we will see a strong battle at this prices with great volume the next days but finally the bulls will win... (except we see a very big BTC "unexplained" tank the next days...)

Offline mf-tzo

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So... coming back on the OP...Why we are falling again? a week ago there was a nice pump with some decent volume and since then fall again despite the nice developments and snapshots... This doesn't create much confidence so I was wondering of potential explanations..

Offline Empirical1.1

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do you tink this no to the gold referendum in swiss might have a positive effect on cryptos ?

just read this
http://www.cryptonews.biz/switzerland-says-no-to-the-save-our-swiss-gold-campaign/

No not directly. A yes vote would have been positive as it would have potentially created a major shift in favour of alternatives to the fiat money system and in favour of limited forms of money. (Gold, Silver, Bitcoin etc.)

Indirectly it may ultimately have a positive effect on BitGold. Switzerland is historically a global safe haven for savings, particularly in Gold & Silver. They were also very good about maintaining privacy but they've recently been forced to disclose a lot more details specifically about US customers. If they're also seen to be reckless with their finances, which this NO vote partly indicates then they may start to lose their safe haven status. In which case a private, full collateralised, decentralised alternative like BitGold will start to have a lot more value.

Offline roselee

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do you tink this no to the gold referendum in swiss might have a positive effect on cryptos ?

just read this
http://www.cryptonews.biz/switzerland-says-no-to-the-save-our-swiss-gold-campaign/

Offline oakmaster

A multipool that pays bitshares would help NXT has one u can also invest in the pool by buying shares on AE I would gladly point my miners to it just a suggestion I think it could help

minebitshares.com !
thanks i didn't even no this pool existed

Offline jsidhu

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at these prices its ok always gotta be careful with centralized mining services
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Offline Troglodactyl

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A multipool that pays bitshares would help NXT has one u can also invest in the pool by buying shares on AE I would gladly point my miners to it just a suggestion I think it could help

minebitshares.com !

Indeed, I've been mining on http://pool.minebitshares.com/ for a while now, it's pretty convenient.  No need for accounts, just a BTS payout address.

Offline toast

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A multipool that pays bitshares would help NXT has one u can also invest in the pool by buying shares on AE I would gladly point my miners to it just a suggestion I think it could help

minebitshares.com !
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline oakmaster

A multipool that pays bitshares would help NXT has one u can also invest in the pool by buying shares on AE I would gladly point my miners to it just a suggestion I think it could help 

Offline roselee

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Well said Ander:

"
I think the main problem is that there are probably only a hundred or so people in the world that actually understand the BTS paid delegates plan, and its benefits, and all of us are on this message board.  And there are thousands of crypto investors out there who bought BTS who have literally no clue what is going on with it, and they just see 'dilution' and the price declining, and they just dump and dump.

At this point we really need the marketing campaign, we need the bitshares info website back up, and we need press releases explaining what has happened and what is coming next, and getting people interested and researching bitshares again.  Once this happens we should get a lot of buying power and the price should rise.  Until it happens we will just keep going lower.  "
i argree with you that it needs a better cominukation and PR but if i use myself as an example
i am just a simple user of the pc and my mothertongue is not english but
after i got interested in cryptos it took not long and i did understand with the help of this forum
and every time i need help i get instant suport
so i think with a bit more PR this will be a big success
the delegate system is the best part couse if we look at the big companies in reallife they treat customers like sh...t and dont care about negative feedbacks its like david vs goliath
the delegate system as i understand means if you get votes you earn if you get no votes you earn less or nothing

and wht does it matter if we go lower at this point , for me my cryptos are a investment i look at in 2 years .
when  windows and co came out i was to stupid to buy shares but not this time  :)