Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: Delegate Votes & AGS BTS  (Read 509 times)

Offline bytemaster

Delegate Votes & AGS BTS
« on: November 20, 2014, 07:21:48 PM »

Some people have noticed (by tracking delegate votes) that millions of BTS which were voting for the current delegates have recently moved. 

As some of you may know I help manage the funds of a few whales so the actions you see that mirror AGS voting are not necessarily AGS funds.

Non-AGS funds which have following my voting patterns have been moved into Short / Buy orders in the BitUSD market to take advantage of the opportunity to sell some BitUSD (read buy BTS) when the individual who is short $760K is forced to cover some time next week (or sooner if this down trend continues).   

AGS funds are still mostly untouched with a total of ~95 million BTS.




For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Vizzini

Re: Delegate Votes & AGS BTS
« Reply #1 on: November 20, 2014, 08:47:30 PM »
Translation: Buy, buy, buy!
Never go against a Sicilian when death is on the line.

sumantso

  • Guest
Re: Delegate Votes & AGS BTS
« Reply #2 on: November 20, 2014, 08:48:02 PM »
I don't understand all these, but are you saying you expect the downtrend to continue? :(

Offline biophil

  • Hero Member
  • *****
  • Posts: 774
  • Incentives run the world
    • View Profile
  • BTS: zebulon
Re: Delegate Votes & AGS BTS
« Reply #3 on: November 20, 2014, 08:50:37 PM »
I don't understand all these, but are you saying you expect the downtrend to continue? :(

How would you get that from "Non-AGS funds which have following my voting patterns have been moved ... to sell some BitUSD (read buy BTS)." He's buying BTS. He's interpreting the current market conditions as a good time to buy.

Offline Ander

  • Hero Member
  • *****
  • Posts: 3488
    • View Profile
  • BTS: Ander
Re: Delegate Votes & AGS BTS
« Reply #4 on: November 20, 2014, 08:51:04 PM »
I don't understand all these, but are you saying you expect the downtrend to continue? :(

He is saying the opposite.  He plans to sell bitUSD to buy BTS.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

zerosum

  • Guest
Re: Delegate Votes & AGS BTS
« Reply #5 on: November 20, 2014, 08:56:19 PM »
 2 quick questions if you do not mind BM. I do not find them inappropriate, but if you do, simply disregard them BM.

1.Aren't the BTC donated to AGS and later sold for BTS(X) considered part of the AGS fund? By the 94 mil number it does not seem to be the case.
2.How many of those BTC still need to be converted to BTS?

sumantso

  • Guest
Re: Delegate Votes & AGS BTS
« Reply #6 on: November 20, 2014, 08:56:47 PM »
I don't understand all these, but are you saying you expect the downtrend to continue? :(

He is saying the opposite.  He plans to sell bitUSD to buy BTS.

Yes he does, but because some have to close due to downtrend.

Offline biophil

  • Hero Member
  • *****
  • Posts: 774
  • Incentives run the world
    • View Profile
  • BTS: zebulon
Re: Delegate Votes & AGS BTS
« Reply #7 on: November 20, 2014, 09:00:02 PM »
I don't understand all these, but are you saying you expect the downtrend to continue? :(

He is saying the opposite.  He plans to sell bitUSD to buy BTS.

Yes he does, but because some have to close due to downtrend.

No, because some have to close because they're about to expire.

zerosum

  • Guest
Re: Delegate Votes & AGS BTS
« Reply #8 on: November 20, 2014, 09:00:58 PM »
I don't understand all these, but are you saying you expect the downtrend to continue? :(

He is saying the opposite.  He plans to sell bitUSD to buy BTS.

Yes he does, but because some have to close due to downtrend.
No, he is saying that big short holder will have to close soon (in 6 days) due to the 30 days rule. For that person might be a wise decision to close even earlier to cut his losses, and BM also includes the market conditions that will make such a move more likely.[It is not very likely for his cover order to be triggered as it is @ about 90 BTS/BitUSD  (0.0111 bitUSD/BTS)]
« Last Edit: November 20, 2014, 09:10:28 PM by tonyk2 »

Offline biophil

  • Hero Member
  • *****
  • Posts: 774
  • Incentives run the world
    • View Profile
  • BTS: zebulon
Re: Delegate Votes & AGS BTS
« Reply #9 on: November 20, 2014, 09:03:41 PM »
I don't understand all these, but are you saying you expect the downtrend to continue? :(

He is saying the opposite.  He plans to sell bitUSD to buy BTS.

Yes he does, but because some have to close due to downtrend.
No, he is saying that he will has to close soon (in 6 days) due to the 30 days rule. For that person might be a wise decision to close even earlier to cut his losses.

Except that I am fairly certain that person shorted to himself, which means he has the bitUSD sitting around already to cover with. Which means I believe the impact on the market will be minimal.

Offline graffenwalder

Re: Delegate Votes & AGS BTS
« Reply #10 on: November 20, 2014, 09:10:50 PM »
Why not set a good example and put in a bit of interest?

I see about 50 million collateral at 0% interest.

Wouldn't a bit of interest make bitusd more appealing and thus BTS more also?

Offline bytemaster

Re: Delegate Votes &amp; AGS BTS
« Reply #11 on: November 20, 2014, 09:11:49 PM »

I don't understand all these, but are you saying you expect the downtrend to continue? :(

He is saying the opposite.  He plans to sell bitUSD to buy BTS.

Yes he does, but because some have to close due to downtrend.
No, he is saying that he will has to close soon (in 6 days) due to the 30 days rule. For that person might be a wise decision to close even earlier to cut his losses.

Except that I am fairly certain that person shorted to himself, which means he has the bitUSD sitting around already to cover with. Which means I believe the impact on the market will be minimal.

Except I know for a fact that he is really short at least 250 K usd.  Because I know people that collectively hold over 400k usd  and there are only 900k bit usd. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline biophil

  • Hero Member
  • *****
  • Posts: 774
  • Incentives run the world
    • View Profile
  • BTS: zebulon
Re: Delegate Votes &amp; AGS BTS
« Reply #12 on: November 20, 2014, 09:15:07 PM »

I don't understand all these, but are you saying you expect the downtrend to continue? :(

He is saying the opposite.  He plans to sell bitUSD to buy BTS.

Yes he does, but because some have to close due to downtrend.
No, he is saying that he will has to close soon (in 6 days) due to the 30 days rule. For that person might be a wise decision to close even earlier to cut his losses.

Except that I am fairly certain that person shorted to himself, which means he has the bitUSD sitting around already to cover with. Which means I believe the impact on the market will be minimal.

Except I know for a fact that he is really short at least 250 K usd.  Because I know people that collectively hold over 400k usd  and there are only 900k bit usd.

How nice it must be to know these things!

Offline Ander

  • Hero Member
  • *****
  • Posts: 3488
    • View Profile
  • BTS: Ander
Re: Delegate Votes & AGS BTS
« Reply #13 on: November 20, 2014, 09:17:24 PM »
So essentially, there is a person out there who went margin long somewhere between $250k and $750k worth of BTS, depending on how much he shorted to himself.  (That would be something like 15 to 50 million BTS).  Divide by 3 due to collateral, to show how many shares of BTS he was essentially long on margin.

And he is going to get a margin call in a few days, or have to cover before it happens.

And bytemaster is going to use these funds to buy the low that is created by this margin call.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline bytemaster

Re: Delegate Votes &amp; AGS BTS
« Reply #14 on: November 20, 2014, 09:17:32 PM »

2 quick questions if you do not mind BM. I do not find them inappropriate, but if you do, simply disregard them BM.

1.Aren't the BTC donated to AGS and later sold for BTS(X) considered part of the AGS fund? By the 94 mil number it does not seem to be the case.
2.How many of those BTC still need to be converted to BTS?

1. is true, but those funds are a separate wallet as I didn't manage the sale. 

2. We stopped buying bts long ago. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

 

Google+