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Offline btswildpig

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Situation report : The shortage of BitCNY begins
« on: April 06, 2015, 04:02:14 PM »

Before the massive adoption , the shortage of BitCNY already begun .
Now www.tradebts.com is charging additional fees for buying BitCNY as a temporary solution .
Many people who want to buy BitCNY to cover their shorts still worrying ...
Also business who is looking to adopt BitCNY would be stuck at the bottleneck .

Looks like we have demand for the major product , and the supply is not enough ....

But also because of the low price and may be some endopathic mechanism (eg. I don't know .... ), people don't have big incentive to produce more BitCNY  .....

Demand from BitCNY comes from :
1、BitCNY can be deposit into BTC38 as CNY on a 1:1 ratio , it increases the usage of BitCNY because of the low spread  .
2、People are stockpiling BitCNY for a crowd-funding project .
3、To cover the short position .
« Last Edit: April 06, 2015, 04:10:40 PM by btswildpig »
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Offline Shentist

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Re: Situation report : The shortage of BitCNY begins
« Reply #1 on: April 06, 2015, 04:03:45 PM »
they can buy on metaexchange.info

Offline wuyanren

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Re: Situation report : The shortage of BitCNY begins
« Reply #2 on: April 06, 2015, 04:05:25 PM »
Extend the contract period

Offline btswildpig

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Re: Situation report : The shortage of BitCNY begins
« Reply #3 on: April 06, 2015, 04:07:57 PM »
they can buy on metaexchange.info

The demand is like at least 10,000 USD worth of BitCNY for just a few ordinary guys I know , not to mention other people and business .
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Offline rgcrypto

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Re: Situation report : The shortage of BitCNY begins
« Reply #4 on: April 06, 2015, 04:45:54 PM »
Glad to see high demand. It's a good problem to have

Offline monsterer

Re: Situation report : The shortage of BitCNY begins
« Reply #5 on: April 06, 2015, 07:35:12 PM »
We have extremely low demand for bitCNY on metaexchange - not sure if that is due to the chinese community not knowing about us, or what...

https://metaexchange.info/markets/BTC/bitCNY
My opinions do not represent those of metaexchange unless explicitly stated.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline btswildpig

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Re: Situation report : The shortage of BitCNY begins
« Reply #6 on: April 06, 2015, 07:44:14 PM »
We have extremely low demand for bitCNY on metaexchange - not sure if that is due to the chinese community not knowing about us, or what...

https://metaexchange.info/markets/BTC/bitCNY

BitCNY is 1:1 exchange with fiat directly in China . so BTC trading is not attractive .
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline onceuponatime

Re: Situation report : The shortage of BitCNY begins
« Reply #7 on: April 06, 2015, 07:47:56 PM »
so, if I am trying to short some bitCNY into existence, why is nobody buying them?

Offline btswildpig

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Re: Situation report : The shortage of BitCNY begins
« Reply #8 on: April 06, 2015, 07:56:32 PM »
so, if I am trying to short some bitCNY into existence, why is nobody buying them?

Because the price of BTS is too low , people don't want to sell BTS for BitCNY at this point .
They want BitCNY , they also don't want to trade their BTS for it .

So you need to wait for someone who is willing to dump their BTS for BitCNY at this point , but not likely because the price is really low , everybody I know refuse to do so .


So on one hand , you have people who lose incentive to short due to the low price ;
on the other hand , you have people who lost incentive to provide counter order for the shorting order , because they don't want to settle the loses by turning BTS into pegged asset .
« Last Edit: April 06, 2015, 08:01:21 PM by btswildpig »
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline onceuponatime

Re: Situation report : The shortage of BitCNY begins
« Reply #9 on: April 06, 2015, 07:59:18 PM »
so, if I am trying to short some bitCNY into existence, why is nobody buying them?

Because the price of BTS is too low , people don't want to sell BTS for BitCNY at this point .
They want BitCNY , they also don't want to trade their BTS for it .

So you need to wait for someone who is willing to dump their BTS for BitCNY at this point , but not likely because the price is really low , everybody I know refuse to do so .

Nothing I can do to help, then.  :(

Offline nomoreheroes7

Re: Situation report : The shortage of BitCNY begins
« Reply #10 on: April 06, 2015, 08:01:57 PM »
so, if I am trying to short some bitCNY into existence, why is nobody buying them?

Because the price of BTS is too low , people don't want to sell BTS for BitCNY at this point .
They want BitCNY , they also don't want to trade their BTS for it .

So you need to wait for someone who is willing to dump their BTS for BitCNY at this point , but not likely because the price is really low , everybody I know refuse to do so .

If they want BitCNY but don't want to pay BTS for it...why not buy more cheap BTS and immediately convert it? I don't see the problem.

Gotta pay something to get BitCNY lol.

But yes, a funnel transforming CNY directly to BitCNY is so unbelievably needed.
« Last Edit: April 06, 2015, 08:06:32 PM by nomoreheroes7 »

Offline yellowecho

Re: Situation report : The shortage of BitCNY begins
« Reply #11 on: April 06, 2015, 08:10:18 PM »
We have extremely low demand for bitCNY on metaexchange - not sure if that is due to the chinese community not knowing about us, or what...

https://metaexchange.info/markets/BTC/bitCNY
+5%
696c6f766562726f776e696573

Offline btswildpig

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Re: Situation report : The shortage of BitCNY begins
« Reply #12 on: April 06, 2015, 08:11:04 PM »
so, if I am trying to short some bitCNY into existence, why is nobody buying them?

Because the price of BTS is too low , people don't want to sell BTS for BitCNY at this point .
They want BitCNY , they also don't want to trade their BTS for it .

So you need to wait for someone who is willing to dump their BTS for BitCNY at this point , but not likely because the price is really low , everybody I know refuse to do so .

If they want BitCNY but don't want to pay BTS for it...why not buy more cheap BTS and immediately convert it? I don't see the problem.

Gotta pay something to get BitCNY lol.

less than 2000 USD worth of BitCNY -- BTS order with decent price . Because of the shortage of BitCNY , so it's natural that no body is willing to sell BitCNY to buy BTS either , got it ? :'(

There is a funnel to do BitCNY:CNY in both ways . But they're affected by the shortage too .
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline yellowecho

Re: Situation report : The shortage of BitCNY begins
« Reply #13 on: April 06, 2015, 08:12:24 PM »
so, if I am trying to short some bitCNY into existence, why is nobody buying them?

Because the price of BTS is too low , people don't want to sell BTS for BitCNY at this point .
They want BitCNY , they also don't want to trade their BTS for it .

So you need to wait for someone who is willing to dump their BTS for BitCNY at this point , but not likely because the price is really low , everybody I know refuse to do so .

If they want BitCNY but don't want to pay BTS for it...why not buy more cheap BTS and immediately convert it? I don't see the problem.

Gotta pay something to get BitCNY lol.

less than 2000 USD worth of BitCNY -- BTS order with decent price . Because of the shortage of BitCNY , so it's natural that no body is willing to sell BitCNY to buy BTS either , got it ? :'(

They could always short into existence.  MetaExchange says they have little demand at the moment.   
696c6f766562726f776e696573

Offline btswildpig

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Re: Situation report : The shortage of BitCNY begins
« Reply #14 on: April 06, 2015, 08:17:28 PM »
so, if I am trying to short some bitCNY into existence, why is nobody buying them?

Because the price of BTS is too low , people don't want to sell BTS for BitCNY at this point .
They want BitCNY , they also don't want to trade their BTS for it .

So you need to wait for someone who is willing to dump their BTS for BitCNY at this point , but not likely because the price is really low , everybody I know refuse to do so .

If they want BitCNY but don't want to pay BTS for it...why not buy more cheap BTS and immediately convert it? I don't see the problem.

Gotta pay something to get BitCNY lol.

less than 2000 USD worth of BitCNY -- BTS order with decent price . Because of the shortage of BitCNY , so it's natural that no body is willing to sell BitCNY to buy BTS either , got it ? :'(

They could always short into existence.  MetaExchange says they have little demand at the moment.

Nobody uses BTC anymore in the Chinese BitShares community , so unless MetaExchange sell their BitCNY on Yunbi with BitCNY:CNY pair , it couldn't help much either .
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

 

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