I love those prices... For the first time better than pre-launch

[tonyk]

Imagine making trades in Bitshares and at the push of a button it goes through the Gateway and the Bitcoins go to your Bitcoin address, the USD to your bank account, the Gold to your physical storage vault. It's almost too good to be true to have that functionality.

At that point I could see billions pouring in...

[yellowecho]

Imagine making trades in Bitshares and at the push of a button it goes through the Gateway and the Bitcoins go to your Bitcoin address, the USD to your bank account, the Gold to your physical storage vault. It's almost too good to be true to have that functionality.

You're making me salivate... that sounds sooo awesome!  Not only is that functionality absolutely incredible but using KeyID everything would be instantaneous as all that personal info could be stored on the chain.   

[luckybit]

I think BitUSD is the key.

I agree.. I also think bitCNY would be wildly successful given the daily volume.  Since one of the hurdles for many people with BTC is value as they don't understand the conversion, bitUSD would make it very easy for them.

And I know I've said this before but if I was a precious metals dealer (and buyer) I'd love bitGLD.  You'd no longer have to use USD as an intermediary (USD>GLD>USD,etc) or worry about the price/ratio fluctuations and you could focus strictly on the premiums.. "Gold rounds now only 1.05bitGLD!"

There are three main breakthroughs which could take Bitshares to 25 cents-$1.

1) The market peg has to work. It appears that the market believes it will work and is investing accordingly in prepare for initial takeoff.
2) There has to be Ripple IOU Gateways so that BitBTC can become real BTC, BitGLD can become real Gold.
3) Interest on BitAssets.

I think we only need 2 out of the 3 to take on Litecoin but if we get all 3 there isn't really anything else out there which can compete with Bitshares.

Imagine making trades in Bitshares and at the push of a button it goes through the Gateway and the Bitcoins go to your Bitcoin address, the USD to your bank account, the Gold to your physical storage vault. It's almost too good to be true to have that functionality.

At that point I could see billions pouring in... but we have to always remember that we are in a competition to innovate. It's not about first mover advantage because Litecoin had that on all these altcoins. It's about continuous innovation combined with community enrichment (the secret sauce).

[luckybit]

Interesting you bring up Blackcoin. They are on the rise again. Perhaps people are starting to invest in PoS coins.

Aren't you more surprised by posts where he doesn't? 


I love you luckybit, just an observation.

I bring up Blackcoin because they are PoS like us. I tried to collaborate with them early on to mutual benefit but they declined the offer. Now they have to watch the Bitshares community take on Litecoin.

But when Litecoin falls due to being inferior outdated technology I'm sure it will benefit the growth of Blackcoin just a bit. Maybe we can issue BitBC on the Bitshares chain to encourage them to cross over.

[Riverhead]

Good answers, thank you. I know very little about those markets but just remember reading that .9999 was the, ahem, gold standard.

[yellowecho]

Is there a reason we didn't go with .9999?

Since it states "1 troy ounce", my guess would be that it's intended to track gold coins which vary on purity.  .999 is common and I'd consider it 'standard'.  For instance, US Eagles are .9167, Pandas are .999, while Buffalos and Maples are .9999.

[xeroc]

Is there a reason we didn't go with .9999?

It actually doesn't matter .. no that the price wouldn't be a higher one but its a "linear scaling" .. just a definition ..
if the market was to be .9999 the value would just be 1.0009 times the value of that one ..

I guess dealers are used to prices with 3 nines .. nothing more.
At the very end you only need to know where the consesus goes to!

[Riverhead]

Is there a reason we didn't go with .9999?

I was under the impression we would have bitGLD. Maybe we will, later down the road?

it is on the market

Code: [Select]

7     GLD    Gold                    1 troy ounce .999 fine gold                     MARKET                          N/A       0.000000 GLD   Just need to trade it ..

[xeroc]

I was under the impression we would have bitGLD. Maybe we will, later down the road?

it is on the market

Code: [Select]

7     GLD    Gold                    1 troy ounce .999 fine gold                     MARKET                          N/A       0.000000 GLD   Just need to trade it ..

[Akado]

I think BitUSD is the key.

I agree.. I also think bitCNY would be wildly successful given the daily volume.  Since one of the hurdles for many people with BTC is value as they don't understand the conversion, bitUSD would make it very easy for them.

And I know I've said this before but if I was a precious metals dealer (and buyer) I'd love bitGLD.  You'd no longer have to use USD as an intermediary (USD>GLD>USD,etc) or worry about the price/ratio fluctuations and you could focus strictly on the premiums.. "Gold rounds now only 1.05bitGLD!"

I was under the impression we would have bitGLD. Maybe we will, later down the road?

[yellowecho]

I think BitUSD is the key.

I agree.. I also think bitCNY would be wildly successful given the daily volume.  Since one of the hurdles for many people with BTC is value as they don't understand the conversion, bitUSD would make it very easy for them.

And I know I've said this before but if I was a precious metals dealer (and buyer) I'd love bitGLD.  You'd no longer have to use USD as an intermediary (USD>GLD>USD,etc) or worry about the price/ratio fluctuations and you could focus strictly on the premiums.. "Gold rounds now only 1.05bitGLD!"

[Murderistic]

I think BitUSD is the key.

[tonyk]

Interesting you bring up Blackcoin. They are on the rise again. Perhaps people are starting to invest in PoS coins.

Aren't you more surprised by posts where he doesn't? 


I love you luckybit, just an observation.

[Riverhead]

Blackcoin was able to do this for a while with it's mining pool. But to maintain it you also have to keep innovating and marketing so that new people join the ecosystem. An easy way to do that is to just start paying everyone in BitUSD.

Interesting you bring up Blackcoin. They are on the rise again. Perhaps people are starting to invest in PoS coins.

[luckybit]

Each share months from now should be worth 50cents -> $1 range. The fact that they are going for a few cent a piece is an opportunity of a lifetime.

Really? That would make a hundred or so people on this forum millionaires. Who knows what will happen, but there will be major dumping before we reach that price level. I think there is lots of dreaming going on in these parts.

Oh, and IMHO we can only reach that price level if BitUSD actually gets used for real merchant activity and not just as a hedge against BTSX.

Hundreds of people will probably be millionaires because there is no reason to dump. You can make profits from within Bitshares itself once you learn how.

But if they do dump there will be plenty of people waiting to buy.

Honestly it depends on a lot of things. Bitcoin had a billion dollar market cap last year. A billion dollars sounds like a lot of money but it really isn't. Litecoin had a billion dollar market cap as well.

Dump resistance can be achieved to a certain degree by increasing buy pressure. Blackcoin was able to do this for a while with it's mining pool. But to maintain it you also have to keep innovating and marketing so that new people join the ecosystem. An easy way to do that is to just start paying everyone in BitUSD.

If businesses in the crypto-community pay employees in BitUSD then a billion dollar market cap is quite easy.

[Riverhead]

What would be handy to know is what are the exchanges BTSX reserves looking like.

Coinport publishes them: https://www.coinport.com/coin/BTSX

My thinking is that if the reserves are high the dump theory has more strength. I don't know enough to tell if 2.8M BTSX balance on Coinport is a lot or not. They are a new exchange so volumes are very low.

[tonyk]

Each share months from now should be worth 50cents -> $1 range. The fact that they are going for a few cent a piece is an opportunity of a lifetime.

Really? That would make a hundred or so people on this forum millionaires. Who knows what will happen, but there will be major dumping before we reach that price level. I think there is lots of dreaming going on in these parts.

Oh, and IMHO we can only reach that price level if BitUSD actually gets used for real merchant activity and not just as a hedge against BTSX.

I do not know either, but sellers are disappearing bunch. Less and less of them by the minute...

[yellowecho]

Once we are ready to pull the trigger. Doing prelim stuff, getting pages and funnels built now, then it's gonna get really interesting.  I would give a time frame but that is a little premature.  I have a timeframe, just don't want to be held to the coals on it just in case there is a hiccup.

  !

[Riverhead]

I think there is lots of dreaming going on in these parts.

Oh, and IMHO we can only reach that price level if BitUSD actually gets used for real merchant activity and not just as a hedge against BTSX.

Dreaming for sure. I am hopeful but trying to stay grounded. This is the sort of thing that happens to other people .

That said I bet there are a ton of people that see this as Bitcoin 2.0 and they are not going to miss the train this time around. Of course, this time there are many trains leaving at different times. I think the market is big enough for it.

However the dust settles it's not boring and I'm enjoying the euphoria of a chance at financial independence. For me it's not about money it's about time. I've only got so much time left on this miserable rock and I'd rather spend that time doing what I please rather than punching a clock.

[speedy]

Each share months from now should be worth 50cents -> $1 range. The fact that they are going for a few cent a piece is an opportunity of a lifetime.

Really? That would make a hundred or so people on this forum millionaires. Who knows what will happen, but there will be major dumping before we reach that price level. I think there is lots of dreaming going on in these parts.

Oh, and IMHO we can only reach that price level if BitUSD actually gets used for real merchant activity and not just as a hedge against BTSX.

[Murderistic]

Once we are ready to pull the trigger. Doing prelim stuff, getting pages and funnels built now, then it's gonna get really interesting.  I would give a time frame but that is a little premature.  I have a timeframe, just don't want to be held to the coals on it just in case there is a hiccup.

[yellowecho]

No promises, but just wait until we are done with the marketing project we are working on, I think price will go 200-500x in no time.

Very excited to hear more about this!  When will you be disclosing more info?

[Empirical1]

Best ask at 0.0000252 BTC/BTSX on BTC38;
Best ask at 0.00002575 BTC/BTSX on BTER;

 

Bitshares can easily get a billion dollar market cap. Auroracoin managed to do it and so did Ripple

Each share months from now should be worth 50cents -> $1 range. The fact that they are going for a few cent a piece is an opportunity of a lifetime.

Aurora and Ripple had fake billion dollar valuations imo but yes I agree, BitAssets could get us there easily.

Edit: I mean easily in a short space of time. BitAssets are much bigger than that.

Bitcoin just served as a prelude for BTSX & BitAssets imo.

[Murderistic]

No promises, but just wait until we are done with the marketing project we are working on, I think price will go 200-500x in no time.

[tonyk]

I think we will cause increase in the BTC price above $600, maybe even over my 3 mo. old resistance price of $680...

[luckybit]

Best ask at 0.0000252 BTC/BTSX on BTC38;
Best ask at 0.00002575 BTC/BTSX on BTER;

 

Bitshares can easily get a billion dollar market cap. Auroracoin managed to do it and so did Ripple

Each share months from now should be worth 50cents -> $1 range. The fact that they are going for a few cent a piece is an opportunity of a lifetime.

[bytemaster]

Hai BTS friends, I am interested in your discussion about prices of BTSX. May I ask you gentleman if you are buying and holding BTSX so you can sell the BTSX at a later date for a profit, or are you buying so you can utilize it for the different Bitshares projects and DAC that are going to be released? Sorry if my question is strange, I am very new to BitShares, and I don't have a complete understanding of it yet.

Thanks!
                =^   ^=
               ~  '     '   ~
                     ^
                     

Think of it like owning stock in the Federal Reserve...  the value of BTSX is 3x or more the value of all BitAssets created.  Demand for BitAssets is projected to be huge once it is proven.

[dankeykang]

Hai BTS friends, I am interested in your discussion about prices of BTSX. May I ask you gentleman if you are buying and holding BTSX so you can sell the BTSX at a later date for a profit, or are you buying so you can utilize it for the different Bitshares projects and DAC that are going to be released? Sorry if my question is strange, I am very new to BitShares, and I don't have a complete understanding of it yet.

Thanks!
                =^   ^=
               ~  '     '   ~
                     ^
                     

[Riverhead]

I'm not sure how they compare with Bitstamp. An ACH pull takes a few days which I think is standard, a push back to my USD bank seems to happen over night or second day. It takes a bit to ramp up to good sized transactions though. Anyway, worth a look. I've been very pleased with their support staff; fast and competent.

[Riverhead]

Is the coinbase's rate $/BTC good?

Yes.  It's pretty much market rates. I would say BTC's natural volatility washes out their buying/selling spread.


https://bitcoinwisdom.com/markets/coinbase/btcusd

[tonyk]

Is the coinbase's rate $/BTC good?

[Riverhead]

Coinbase is the best I've found for the US. ACH connection to my accounts. I click buy, how much, and it pulls it. They have great people working for them too. It's a tight ship.

[Gentso1]

I still need to buy more...fiat to btc can be so slow...

too bad you're not in China.
fiat can deposit to platform directly....

which country are you in ?

I'm in the US. Things here move a bit slower, especially banking and their antiquated systems. It didn't help that some of the funds are coming from the sale of stocks. NYSE->Broker->Bank->Coinbase->Coinport. So many hoops.

I feel your pain. I was called by my bank the other day because of the number of International wire transfer's "for my own protection"......... Wire to bitstamp is the fastest cheapest way I got, let me know if you find better please.

[Riverhead]

I still need to buy more...fiat to btc can be so slow...

too bad you're not in China.
fiat can deposit to platform directly....

which country are you in ?

I'm in the US. Things here move a bit slower, especially banking and their antiquated systems. It didn't help that some of the funds are coming from the sale of stocks. NYSE->Broker->Bank->Coinbase->Coinport. So many hoops.

[lucky331]

omg. another wave.. could this be...

[tonyk]

Next sell wall @ 0.0000288 on btc38. (~31btc)


[EDIT]
Hm, the seller saw this post and reconsidered   


The next sell wall @... scratch that.

The next sell wall  not in sight.

[tonyk]

921675991083838259.24178443071804
is the number returned by my calculator.

Nothing, just trying to figure out the return on my investment....

[Riverhead]

9.22 . Why?

[tonyk]

How much is 1.12^365 ?

[Riverhead]

I still need to buy more...fiat to btc can be so slow...

[tonyk]

Best ask at 0.0000252 BTC/BTSX on BTC38;
Best ask at 0.00002575 BTC/BTSX on BTER;