BTS long term support

[jsidhu]

Ander stop watching price so closely i used to make similar assumptions.. in the end it coukd be a combination of ppl selling and others buying arbing or getting in other investments.. its probably not a single whale.

[arhag]

There has been the sustained selling pressure of some what for quite a while now (I think specifically someone big started selling in the Jan 20-25 range.  This bitshares whale has been slowly selling off a couple million a day since then. 

What are you seeing in the order books that makes you feel confident it is a whale who is desperate to get out (versus say 100% paid delegates cashing out to cover necessary expenses)? I certainly like the narrative of the whales since it means that eventually (hopefully soon) they will run out of BTS, but I'm not sure why we can be confident that is the case.

The positive things we have been doing just havent been enough to stem the tide of this big seller, who simply does not seem to care that the price he is getting is now very low.  There is no reason for the bulls to try and drive it up as long as this guy is still determined to sell BTS, it makes much more sense for them to just but up low bids and let him desperation-sell into them, because the seller seems very desperate. 

I wish it was possible to do some kind of exit interview with this (these) whale(s) after they finished selling their BTS. I would love to know which changes caused them to go from being such large supporters to totally giving up on BitShares. Not to say I would change my mind on the decisions that were made (like implementing dilution pay for delegates, or focusing on one superDAC), I just would gain satisfaction knowing they divested because of reasons that I consider to be clear positives for the future of BitShares.

[Ander]

One thing should be clear regardless:

There has been the sustained selling pressure of some what for quite a while now (I think specifically someone big started selling in the Jan 20-25 range.  This bitshares whale has been slowly selling off a couple million a day since then. 

We found what couldve been a bottom at around .063 CNY at the beginning of the month.   The price held steady at that level for days, and there kept being million share dumps periodically in the 65 to 63 range.  And the Buywall kept being refilled each time - for a while. 

Whoever was supporting that area ran out on Feb 6 and the whale just kept selling even though BTC wasnt dropping, which has since been causing the BTS/BTC ratio to crash.


The positive things we have been doing just havent been enough to stem the tide of this big seller, who simply does not seem to care that the price he is getting is now very low.  There is no reason for the bulls to try and drive it up as long as this guy is still determined to sell BTS, it makes much more sense for them to just but up low bids and let him desperation-sell into them, because the seller seems very desperate. 

Eventually this bear will either run out of BTS, or run out of desire to sell / need to sell, and the dumps will decrease, and the bulls who right now are getting their orders filled by placing lowball bids will stop getting filled and will have to start bidding the price up if they want more. 

This has gone on longer than I expected.  I just got a STUPIDLY low order filled on bter that I absolutely did NOT expect to get filled, EVER.  (I think that one was a panic dumper, not the bear whale - who is on btc38). 

These are good times to keep dollar cost averaging into BTS.  Just put up lowball bids and leave them there.  If they get filled, you get super cheap BTS, if not, you get to be relieved that BTS stopped dropping and can go up again.

[zerosum]

There is a lot of sell pressure to pay taxes.  That should end soon.

So,it was the dev team have to dump at this low price?
sadly.

i dont think thats what he said

True, he did not. But how many businesses can you think of that hold all their money in BTS?

[roselee]

There is a lot of sell pressure to pay taxes.  That should end soon.

So,it was the dev team have to dump at this low price?
sadly.

i dont think thats what he said

[liondani]

Protip to devs:  If you need to sell for tax reasons, maybe release light wallet and 1.0, then sell the pump. ;) 
Selling first before generating the positive news is really shortchanging yourselves.

they must pay taxes this year

[Ander]

Well, I have another 100kish super cheap BTS now.  Someone dumped it crazy low on bter, its like a 10% off sale.

If you are a long termer who already has lots of bts and are looking to add more, put your orders like 5% under the current price.

If they never get hit: okay thats fine, you already had a lot right?

If they do get hit however you provide defense against the super dumps, you get extra BTS.  Think of it this way: some idiot bear gave you some of their BTS for free.  Just be patient and wait for the dumpers. 

[Ander]

Protip to devs:  If you need to sell for tax reasons, maybe release light wallet and 1.0, then sell the pump. ;) 
Selling first before generating the positive news is really shortchanging yourselves.

[Ander]

There is a lot of sell pressure to pay taxes.  That should end soon.

So,it was the dev team have to dump at this low price?
sadly.

I remember one time I commented "who is the idiot who would dump at these low prices with everything thats going on at NullStreet", and then bytemaster replied that sometimes people have to sell.  Made me think it was him. :P

[lzr1900]

There is a lot of sell pressure to pay taxes.  That should end soon.

So,it was the dev team have to dump at this low price?
sadly.

[oldman]

Hodling.

[Ander]

At this point we risk to lose all the existing investors.

We only lose the idiots that buy high and sell low, of which we have lost most of them already I think. 
I think the problem is lingering dumping from people pissed off by the november changes, who got a fresh round of BTS to dump when vesting balances unlocked. 

We have a bearwhale in BTS, some big holder who hated the changes and has been selling ever since.  We just need them to run out.

At this point they are getting really low prices for their BTS anyway.

.Big investors will never invest to something so small that keeps falling despite all the amazing things that could happen in BTS but might consider to invest big money if we stabilize at much higher levels and volumes..So please stop dumping..We have fallen very very much already...

Actually investing in small things that have fallen is exactly what the smart money does.  That is the way you make make money, not by buying pumps like BTS in late august, or what happened in darkcoin yesterday. The big player gets their lowball buys filled at very cheap prices and then after he has gotten a lot and the sell pressure has dissipated, he drives it up, and then profits off the momentum traders who buy his pump.

[bytemaster]

There is a lot of sell pressure to pay taxes.  That should end soon. 

[lil_jay890]

The price drop is a blessing... I'm getting my tax refund back in a few weeks plus a bonus from work.  All is going straight into bts.  Hopefully my 4k creates a bottom ;)

[mf-tzo]

At this point we risk to lose all the existing investors..Big investors will never invest to something so small that keeps falling despite all the amazing things that could happen in BTS but might consider to invest big money if we stabilize at much higher levels and volumes..So please stop dumping..We have fallen very very much already...