BTSX trade is open on btc38

[CLains]

hahaha, price has gone up like 40% after the conversion. 

[mf-tzo]

I don't see any huge difference...

Btc38 @ 0.01175 if you divide by 500 = 0.0000235 which is very close to bter 0.000027 considering the liquidity and fees..

[liondani]

bytemaster they must fix the suply NOW on btc38 !!!
everybody buy now on Bter, maybe a lot of them they think it is cheaper there !!!
It is importand because investors will loose money and at the end the bad fame will go to bitshares as well  and not only to the exchanges!

It is a huge gap between the exchanges in market cap because of confusion. Please act now !

[liondani]

Anyone know what total supply they are using? We're pretty much forced to use whatever they chose now...

hi toast, i am xianfei from btc38.
we have announce on our website and weibo that when bts x officially launched, we'll change the unit of bts x as per 3i's plan.

so don't worry about it.
 

sorry for the inconvenience if any. I'll spend more time in the community in the future.
let's keep in touch.

cheers
sammy /xiaofei

Hello xianfei,
please consider to make the transition to 2 billion supply now.
bter already made that successful and if you do it as well it will be not confusing anymore for investors/traders...
I am quite sure that the trades will rise after  that noticeably!

[Empirical1]

I see bter have converted trading to the new 2 Billion unit base, cool.

[MktDirector]

Ha! Simeon, Great image..... Mighty Morphin BitShares Coders. 

[Simeon II]

3rd possibility: People believe if it is possible to store value with the price stability of gold or ubiquitous acceptance of USD but with all the advantages in transferability, privacy, and security of a crytocurrency... it will be worth billions.  But they are not convinced yet so it's worth 20-25million on speculation alone... or most of the people who have been convinced are already "all in"

It is pretty much what I am saying BUT
How can one trade something on not-working market? In other words - why the hell they want to launch stupid product instead of groundbreaking?    

[Agent86]

3rd possibility: People believe if it is possible to store value with the price stability of gold or ubiquitous acceptance of USD but with all the advantages in transferability, privacy, and security of a crytocurrency... it will be worth billions.  But they are not convinced yet so it's worth 20-25million on speculation alone... or most of the people who have been convinced are already "all in"

[Simeon II]

Do not complain guys, brace for the future!
The BTSX is holding up very very well, right now, for ‘market without market functionality’:

Re: Dry Run 7: The Power of DPOS
« Reply #554 on: Today from toast
https://bitsharestalk.org/index.php?topic=5381.540


* 10 transactions per second
* 10 second blocks
* Bids/asks/shorts (but no order matching, ha ha) [/b]

There are of course 2 theories why this is the case:
1. The market truly believes the team:



will deliver the said market functionality. EDIT: Before BTS X is launched that is.

2. At the moment all willing buyer have a choice to buy if they so choose, but only small % of available BTSX (from those PTS left on the exchanges) are on the market!

[CLains]

Lets say you bought all the PTS (assume cost = market cap) and then put them on bter, then you'd get half of market cap of BTSX + PTS market cap at sell. BTSX market cap is currently 36000 on bter, so unless you bought PTS at market cap >= 36000 BTC + PTS market cap at sell, you're doing just fine.

Didn't only half the current 36000 market cap go to PTS holders? So you must have bought at a market cap under 18,000 BTC + PTS market cap to be doing fine. 11mil + 7.5mil = 18.5 mil and PTS was above 20mil before snapshot; so PTS holders have lost money since the snapshot (it's cheaper to buy BTSX now than to have got them via PTS snapshot).

Yes sorry, should be "unless you bought PTS at market cap >= 36000BTC/2 + PTS market cap at sell, you're doing just fine."

Actually now it is at 32k BTC, :/ At least the AGS donators are still ahead though.. They are the only ones who had their funds tied up anyway I guess.

[mf-tzo]

For me at least buying btsx now is waaayy cheaper than from the snapshot and I can't have access to my funds currently... 
So please keep sell them at these levels for the next week so I can have a chance to recover when this babe explodes...

[Agent86]

Lets say you bought all the PTS (assume cost = market cap) and then put them on bter, then you'd get half of market cap of BTSX + PTS market cap at sell. BTSX market cap is currently 36000 on bter, so unless you bought PTS at market cap >= 36000 BTC + PTS market cap at sell, you're doing just fine.

Didn't only half the current 36000 market cap go to PTS holders? So you must have bought at a market cap under 18,000 BTC + PTS market cap to be doing fine. 11mil + 7.5mil = 18.5 mil and PTS was above 20mil before snapshot; so PTS holders have lost money since the snapshot (it's cheaper to buy BTSX now than to have got them via PTS snapshot).  Of course I think this will change and most altcoins have dropped considerably since Feb.  Even NXT which has done comparatively well is about the same place it was at snapshot time.

[CLains]

Lets say you bought all the PTS (assume cost = market cap) and then put them on bter, then you'd get half of market cap of BTSX + PTS market cap at sell. BTSX market cap is currently 36000 on bter, so unless you bought PTS at market cap >= 36000 BTC/2 + PTS market cap at sell, you're doing just fine.

Edit: Corrected.

[drekrob]

One BTSX on BTER means you had one PTS on BTER at the time of the snapshot. So it does not really matter how big the cap will be, you will get the according amount.

[svk]

Hold on now..let me put it another way... 0.0085 is c5 dollars. Are the bitshares traded on bter imply a market cap of 10 mil or 20 mil??'..

I would guess 20 mil based on 4 mil and they will adjust accordingly...if we imply 10 mil market cap and then this is adjusted accordingly I better come back from my holidays, get a loan and buy them all..

Can someone please clarify this???

Yea think you're right, it's based on half of the 4 million that was originally supposed to be distributed equally between AGS and PTS. So rephrasing what someone stated earlier:

100 BTSX is 100/4000000 *100% = 0.0025% of total supply.

So at current prices, the market cap is ~21 million $.

I'm buying some on BTC38...