Author Topic: So Bitcoin seems to be taking Bitshares down with it...  (Read 7538 times)

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Offline Empirical1.1

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Offline Empirical1.1

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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.

charleshoskinson

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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 NineLives

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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 

BTC Mining Hardware IN STOCK NOW:  http://www.mininghardware.co.uk

Offline Empirical1.1

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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 bluebit

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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
BTSX TipMe: bluebit

Offline NineLives

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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?
Keyhotee / BTSX:  Merah    PTS:  PskEDN4AeWc1trW4zV7DGGTQi3y5LeVhFR 

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Offline bluebit

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

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