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Offline stuartcharles

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so many week hands?
« on: July 22, 2014, 01:52:50 PM »

I see nearly 0.5 million traded today which despite the 25% loss is still great news (for every seller there has to be a buyer) however, the volume of sellers took me by surprise.  Its there a rational explanation? coders needing to pay rent, eat, ect. Or an exchange with a bag full of something they don't understand?

Please let me know your thoughts

Offline Riverhead

Re: so many week hands?
« Reply #1 on: July 22, 2014, 01:56:33 PM »
My guess is that there are a number of PTS holders that don't understand or don't believe in BTSX and are unloading at their first chance. I see this as a short term thing.

Offline stuartcharles

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Re: so many week hands?
« Reply #2 on: July 22, 2014, 02:12:34 PM »
My guess is that there are a number of PTS holders that don't understand or don't believe in BTSX and are unloading at their first chance. I see this as a short term thing.

hmm, but to be holding pts and following it close enough to cash in quickly suggests people who keep a regular eye on the forum? I guess they could be selling to buy back in as the typical launch is a week of price dropping, but that's risky if you know what you are holding. Im looking for another explanation, any other theory's?

clout

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Re: so many week hands?
« Reply #3 on: July 22, 2014, 02:20:54 PM »
There are number of ppl that got into pts early and can profit even selling at prices that would constitute a loss for the average ags holder prior to the snapshot


Offline stuartcharles

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Re: so many week hands?
« Reply #4 on: July 22, 2014, 02:29:06 PM »
There are number of ppl that got into pts early and can profit even selling at prices that would constitute a loss for the average ags holder prior to the snapshot

no, its not that. I mined some of the first blocks before it was pools only and i cart imagine anyone in my position cashing out now.

Offline Empirical1

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Re: so many week hands?
« Reply #5 on: July 22, 2014, 02:32:58 PM »
Yeah there was always a chance there would be a dip when the exchanges allowed deposits. (A lot of supply up for sale at once.) It's actually holding up pretty well.

It's strange when you consider the amount of IPO'S where investors/donators make money from weak products, and now you have the most awesome product ever, where people have had their money tied up for months and the fact that some IPO investors & donators have lost money is obviously disappointing. 

I think it's possible this could go down in the record books as an um, 'significant' marketing failure. 
The 'mainstream' audience they were targeting obviously haven't shown up at the exchanges.
In terms of a marketing strategy targeting the alt-coin market,  the people who would be buying BTSX at this stage, until the last month when a handful of people started posting on forums trying to inform people and create a buzz there was literally no BTT/forum based marketing campaign.

Having said that I'm INCREDIBLY confident in BTSX. This is just going to have to be one of the times where the product sells itself.

The info website has a great look http://bitshares-x.info/ and once people start downloading the wallet and chatting about it. It's going to the moon.

Edit: I will be shocked if BitShares X isn't sitting at, at least no. 5 in a week or two.



« Last Edit: July 22, 2014, 02:36:08 PM by Empirical1 »

Offline Overthetop

Re: so many week hands?
« Reply #6 on: July 22, 2014, 02:45:45 PM »
Yeah there was always a chance there would be a dip when the exchanges allowed deposits. (A lot of supply up for sale at once.) It's actually holding up pretty well.

It's strange when you consider the amount of IPO'S where investors/donators make money from weak products, and now you have the most awesome product ever, where people have had their money tied up for months and the fact that some IPO investors & donators have lost money is obviously disappointing. 

I think it's possible this could go down in the record books as an um, 'significant' marketing failure. 
The 'mainstream' audience they were targeting obviously haven't shown up at the exchanges.
In terms of a marketing strategy targeting the alt-coin market,  the people who would be buying BTSX at this stage, until the last month when a handful of people started posting on forums trying to inform people and create a buzz there was literally no BTT/forum based marketing campaign.

Having said that I'm INCREDIBLY confident in BTSX. This is just going to have to be one of the times where the product sells itself.

The info website has a great look http://bitshares-x.info/ and once people start downloading the wallet and chatting about it. It's going to the moon.

Edit: I will be shocked if BitShares X isn't sitting at, at least no. 5 in a week or two.

Agree.

The market data shows it is just the very beginning of the whole thing of BTS.

It seems we are just in IPO stage of BTSX.

 :D

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Offline Empirical1

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Re: so many week hands?
« Reply #7 on: July 22, 2014, 02:55:55 PM »
Yeah, I agree.

I said it was 'holding up pretty well' but I have to admit the Chinese market is rocking! Big sellers but some big buyers too!
Enough people 'get it' there for sure!

CNY $ traded volume for BTSX has been huge in the last 24 hours!


Offline stuartcharles

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Re: so many week hands?
« Reply #8 on: July 22, 2014, 04:38:39 PM »
Yeah there was always a chance there would be a dip when the exchanges allowed deposits. (A lot of supply up for sale at once.) It's actually holding up pretty well.

It's strange when you consider the amount of IPO'S where investors/donators make money from weak products, and now you have the most awesome product ever, where people have had their money tied up for months and the fact that some IPO investors & donators have lost money is obviously disappointing. 

I think it's possible this could go down in the record books as an um, 'significant' marketing failure. 
The 'mainstream' audience they were targeting obviously haven't shown up at the exchanges.
In terms of a marketing strategy targeting the alt-coin market,  the people who would be buying BTSX at this stage, until the last month when a handful of people started posting on forums trying to inform people and create a buzz there was literally no BTT/forum based marketing campaign.

Having said that I'm INCREDIBLY confident in BTSX. This is just going to have to be one of the times where the product sells itself.

The info website has a great look http://bitshares-x.info/ and once people start downloading the wallet and chatting about it. It's going to the moon.

Edit: I will be shocked if BitShares X isn't sitting at, at least no. 5 in a week or two.

Not sure you are correct "The 'mainstream' audience they were targeting obviously haven't shown up at the exchanges. " someone has shown up, its been the third largest traded coin after bitcoin and litecoin so plenty of buyers.

Still no answer to my original question "whos holding the week hands". Why are so many holders selling? the buying doesn't surprise me, but, whos giving it to them at such a discount?

Offline luckybit

Re: so many week hands?
« Reply #9 on: July 22, 2014, 04:47:04 PM »
I see nearly 0.5 million traded today which despite the 25% loss is still great news (for every seller there has to be a buyer) however, the volume of sellers took me by surprise.  Its there a rational explanation? coders needing to pay rent, eat, ect. Or an exchange with a bag full of something they don't understand?

Please let me know your thoughts

There are miners with tens of millions of millions of Bitshares. People who mined protoshares from the cloud and had 10,000-20,000 protoshares.

So now they would have like 10,000,000-20,000,000 protoshares. They have to pay for all that cloud mining for the past 6+ months.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline Empirical1

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Re: so many week hands?
« Reply #10 on: July 22, 2014, 04:58:00 PM »

Not sure you are correct "The 'mainstream' audience they were targeting obviously haven't shown up at the exchanges. " someone has shown up, its been the third largest traded coin after bitcoin and litecoin so plenty of buyers.

Still no answer to my original question "whos holding the week hands". Why are so many holders selling? the buying doesn't surprise me, but, whos giving it to them at such a discount?

The volume is Chinese - 70% CNY/BTC and 85%+ on BTC38 which I think is mostly a Chinese userbase. (Even though they have an English site too.) So whoever has handled marketing for the Chinese audience has done a fantastic job. The Chinese may also just be smarter.

I believe most of our marketing material  has been directed at an English speaking audience and that is where we seem to have failed. (Our BTC/BTSX volume is not even in the top 10.)

CNY volume outstrips BTC/BTSX volume 2/3 to 1, I don't think there is a single DAC/Coin where CNY/ volume even matches BTC/   1 to 1. On the one hand it is fantastic that we have appealed to the Chinese market much more than anything else out there but it also points at our failure to reach the English/Western market imo.

Edit: I stand corrected there is one - PTS - $35 000 24 hr CNY volume and $3600 BTC volume. 10-1 difference.  :-\

At least the product can sell itself now to the Western audiences. Once they get it, and the BTC volume gets in line with the rest of the market vs. CNY, the value of this will be massive & that could all happen very quickly imo. I still can't open it in Windows myself, but I'm terrible with computers.
« Last Edit: July 22, 2014, 05:18:20 PM by Empirical1 »

Offline wesphily

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Re: so many week hands?
« Reply #11 on: July 22, 2014, 05:56:59 PM »
I'm not terrible with a computer/server/san and I can't open the wallet.

Offline Simeon II

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Re: so many week hands?
« Reply #12 on: July 22, 2014, 06:17:57 PM »
CNY volume outstrips BTC/BTSX volume 2/3 to 1, I don't think there is a single DAC/Coin where CNY/ volume even matches BTC/   1 to 1. On the one hand it is fantastic that we have appealed to the Chinese market much more than anything else out there but it also points at our failure to reach the English/Western market imo.

PTS /CNY has had bigger (sometimes 10x bigger) volume than PTS/BTC since at least March.


And believe it or not, not everything is marketing/PR. In very few occasion the rational for things is called market. I know it comes somewhat as a surprise to you Empirical1.  :)

Offline Empirical1

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Re: so many week hands?
« Reply #13 on: July 22, 2014, 07:11:28 PM »
CNY volume outstrips BTC/BTSX volume 2/3 to 1, I don't think there is a single DAC/Coin where CNY/ volume even matches BTC/   1 to 1. On the one hand it is fantastic that we have appealed to the Chinese market much more than anything else out there but it also points at our failure to reach the English/Western market imo.

PTS /CNY has had bigger (sometimes 10x bigger) volume than PTS/BTC since at least March.


And believe it or not, not everything is marketing/PR. In very few occasion the rational for things is called market. I know it comes somewhat as a surprise to you Empirical1.  :)

I know it has bigger volume for a while. I have been bringing up that subject PTS/CNY for a while.

I know there are many investors who know very little about markets. One even thought the range for BTSX would be $2-15 million... I tried to buy from him at $21 million but he wouldn't sell :(

Offline toast

Re: so many week hands?
« Reply #14 on: July 22, 2014, 07:14:50 PM »
It's not complicated: only part of the supply was trading previously. Everyone could buy, a small fraction could sell. So the previous cap was inflated. If the exchanges hadn't traded their snapshot, this would be the starting price.
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