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Offline bluebit

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So Bitcoin seems to be taking Bitshares down with it...
« on: January 04, 2015, 02:01:39 AM »

How do we break away from Bitcoin and become #1?

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Offline NineLives

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Re: So Bitcoin seems to be taking Bitshares down with it...
« Reply #1 on: January 04, 2015, 02:06:40 AM »
Good question.  Bitcoin seems to be dropping and as I watch I'm hoping for it to rise again.  A full year passes and all I see is a continued drop.

How does this relate to my new Bitshares world?  Are we suffering due to bitcoin's continued decline?
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Offline bluebit

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Re: So Bitcoin seems to be taking Bitshares down with it...
« Reply #2 on: January 04, 2015, 02:16:09 AM »
I think maybe the real question is... who is selling and why? I'm sure not selling, but I have a theory why EVERY SINGLE CRYPTO is going down at the same time, and it's not because everybody is selling, it's market manipulation. I think it's the bankers/elite/government, they have lots of money they probably have Chinese people buying all the cryptos in small amounts over time at a certain price, then they tell them to sell them all at the same time, lowering the price, effectively destroying confidence in the market.

or it's just people being stupid
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Offline Empirical1.1

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Re: So Bitcoin seems to be taking Bitshares down with it...
« Reply #3 on: January 04, 2015, 02:24:02 AM »
BitCoin needs to pay out $30 million + a month to miners just to sustain it's current CAP not easy in a bear market. It's also a victim of it's own success. The more utility it gains and the more people spend it, the more downward pressure is created as retailers don't hold it due to volatility. So a sale in Bitcoin almost equates to sale of Bitcoin.

BitShares has low inflation costs and retailers will be likely to hold BitAssets more due to their low volatility, privacy and that they pay interest. As each BitAsset requires 300% collateral to create, unlike Bitcoin a little BitAsset demand goes a long way.

BTSX pre-dilution discussions, would already be in XRP territory and ready for the assualt imo.

These last few months have cost us. Our goal now is to get 1.0 out and everything required to use & integrate BitAssets as simple as possible and then market the shit out of it.

Once we rise over $100 million and pass LTC etc. We are the next decentralised alternative to Bitcoin in line for the throne at a stage when Bitcoin is weak. So it's still all to play for.

Crypto is in a bear market, but if we had the demand and interest that Bitcoin has we would be thriving because of low inflation and the nature of BitAssets.


Offline NineLives

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Re: So Bitcoin seems to be taking Bitshares down with it...
« Reply #4 on: January 04, 2015, 02:32:22 AM »
BitCoin needs to pay out $30 million + a month to miners just to sustain it's current CAP not easy in a bear market. It's also a victim of it's own success. The more utility it gains and the more people spend it, the more downward pressure is created as retailers don't hold it due to volatility. So a sale in Bitcoin almost equates to sale of Bitcoin.

BitShares has low inflation costs and retailers will be likely to hold BitAssets more due to their low volatility, privacy and that they pay interest. As each BitAsset requires 300% collateral to create, unlike Bitcoin a little BitAsset demand goes a long way.

BTSX pre-dilution discussions, would already be in XRP territory and ready for the assualt imo.

These last few months have cost us. Our goal now is to get 1.0 out and everything required to use & integrate BitAssets as simple as possible and then market the shit out of it.

Once we rise over $100 million and pass LTC etc. We are the next decentralised alternative to Bitcoin in line for the throne at a stage when Bitcoin is weak. So it's still all to play for.

Crypto is in a bear market, but if we had the demand and interest that Bitcoin has we would be thriving because of low inflation and the nature of BitAssets.

Great explanation.  Give this man a cookie!!!
Keyhotee / BTSX:  Merah    PTS:  PskEDN4AeWc1trW4zV7DGGTQi3y5LeVhFR 

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charleshoskinson

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Re: So Bitcoin seems to be taking Bitshares down with it...
« Reply #5 on: January 04, 2015, 03:02:29 AM »
It's the gox loot guys. The police are getting closer to the fraud and the backers are dumping the stolen coins. Over 600k of them.

Offline Empirical1.1

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Re: So Bitcoin seems to be taking Bitshares down with it...
« Reply #6 on: January 04, 2015, 03:22:46 AM »
It's the gox loot guys. The police are getting closer to the fraud and the backers are dumping the stolen coins. Over 600k of them.

Is that true?

The sudden fall is just as likely the result of passing through a key psychological & trading support level of $300 at the start of a New Year when people are re-evaluating their positions and seeing Bitcoin's poor 2014 performance.

A similar thing happened with LiteCoin passing $100 million last week, a slow descent turns into a rapid one.


Offline Empirical1.1

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Re: So Bitcoin seems to be taking Bitshares down with it...
« Reply #8 on: January 04, 2015, 03:33:37 AM »
http://www.coindesk.com/missing-mt-gox-bitcoins-inside-job-japanese-police/

Are you saying the guys who stole the coins originally are dumping them? I would have thought they'd have dumped them already.

charleshoskinson

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Re: So Bitcoin seems to be taking Bitshares down with it...
« Reply #9 on: January 04, 2015, 03:44:30 AM »
Dump 600k coins in a bear market? You have to slowly make love to that stolen booty unless forced.

Offline werneo

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Re: So Bitcoin seems to be taking Bitshares down with it...
« Reply #10 on: January 04, 2015, 04:05:17 AM »
Not sure about the argument that the Mt Gox perps are feeling a sudden need to liquidate. How much easier is it to hide btc than USD, EUR or whatever? Why move the funds around at all? If you are the perp, it's best to keep absolutely still and pretend you don't know anything about it. Keep the keys in a brain wallet and hope for the best. If they get caught and imprisoned, they'll have to remember their brain wallet password until they are released from the slammer.

I'm guessing we're are in the end phases of the year-long bear market. The crescendo might be a dramatic but brief drop under the April 2013 high (<$260). Then hopefully the bear will take a nice long nap and we can watch the bull run around for a while.

Offline roadscape

Re: So Bitcoin seems to be taking Bitshares down with it...
« Reply #11 on: January 04, 2015, 07:37:20 AM »
Dump 600k coins in a bear market? You have to slowly make love to that stolen booty unless forced.

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Offline Shentist

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Re: So Bitcoin seems to be taking Bitshares down with it...
« Reply #13 on: January 04, 2015, 08:37:00 AM »
i hope anyone knows, that no one can or will know why crypto is in a bearmarket.

if you believe in crypto, now is the time to buy more, because now you can get bitcoin 15% cheaper then 2 days before.
Don't watch or depend everyday on the exchange price.

Offline yellowecho

Re: So Bitcoin seems to be taking Bitshares down with it...
« Reply #14 on: January 04, 2015, 08:49:19 AM »
Most likely selling to report tax losses.  :P
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