Author Topic: Suggestion: Investment guide for Bitshares X bulls  (Read 5820 times)

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Tuck Fheman

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If it gets to $1, then it may as well get to $20

Yeah, I'm a bull, baby

$500

Offline merlin0113

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i managed to short today for the first time! So excited I am...

Offline mike623317

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I agree with this.

I am interested. I've invested. I need a guide on how to use this application.
Incorporating an easy to use guide shouldn't be that difficult.

I think its a MUST HAVE in my opinion. My colleague at work said exactly the same thing when he downloaded the wallet.

Thanks
Michael

Offline stuartcharles

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Fully agree with Luckybit in everything he said. The rules of shorting have been explained to me a lot of times and I have been tried to short since the first day the client came out without any success yet...

Unless I see a video or a slide with specific examples I will never be able to understand this client and I do understand economics and trading...

I'm the same, i have no idea why this isnt a priority, its been mentioned enough.

I would love to have a play, who knows maybe i would be good at it. Maybe lots of us would.

Marketeers, educate, please

Offline mf-tzo

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Fully agree with Luckybit in everything he said. The rules of shorting have been explained to me a lot of times and I have been tried to short since the first day the client came out without any success yet...

Unless I see a video or a slide with specific examples I will never be able to understand this client and I do understand economics and trading...



Offline bluebit

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I remember going to Home Depot and seeing an option to pay with Paypal at the self-checkout, what is stopping us from asking Home Depot to add BitUSD to their checkout system :) Once more people see BitUSD option's during checkout, they will wonder what is BitUSD :) It's great advertising
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Offline carpet ride

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If it gets to $1, then it may as well get to $20

Yeah, I'm a bull, baby


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Tuck Fheman

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... if I'm dealing with a considerable amount of money I want to be 99% sure I know what I'm doing before I do anything.

Same here. If I can't figure it out on my own or get a reliable answer elsewhere I usually exit entirely and move to something that I can understand.  DNS is one that I'm currently having this issue with since simply asking for a compiled windows version of the latest client yields snarky remarks from some or a thread gets locked after I ask a question. Luckily one kind soul pm'd me a partial answer to my question and I was able to import my AGS/DNS from Multibit after I found some info (not on this forum, which was odd). Had that not happened I probably would have sold all of my DNS and waited until it (and it's participants) were more user friendly.  At this point DNS seems to be for the 1337 only and if you aren't 1337 then you're on your own. </butthurt>




Offline stuartcharles

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I would like to use a service like that with a % of my holdings, good idea

Offline yellowecho

Rather than just an investment guide, is it be plausible to create a child DAC from BitSharesX where users could vote for brokers to trade on their behalf?  I'm a long term BTSX bull with little interest in day trading nowadays so I just setup static long sell orders; however, I'd definitely be interested in a broker service if the system was capable of tracking broker trust, performance, and use of escrow.  Thoughts?
« Last Edit: October 14, 2014, 03:56:32 pm by yellowecho »
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Offline lil_jay890

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Was anything ever done with this.  I still find it hard to short bitUSD.  When looking at the bitUSD order book on the bitsharesblocks, why does it show short orders under the bitUSD market price? Why have these short orders not been filled?

Offline luckybit

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I dont think the system would work if everyone shorts bitusd.. I could be wrong
Not everyone is going to. Someone should also blog and explain the reasoning behind buying BitUSD.

I mean I think buying BitUSD is a lot easier but still it's not exactly intuitive what you're buying. When you buy BitUSD you're actually saving your wealth. So part of the problem with the interface is it doesn't make it immediately clear that you're storing your wealth to protect it from volatility.

A use case I can think of is if you think Bitshares is in a bubble like a lot of people are saying on other forums then you can buy BitUSD and when the price crashes now you've got the ability to buy more Bitshares.  Explained like that it is relatively simple but when you explain it with all the confusing concepts about pegs, derivatives, BitAssets, it's not going to make sense.

Eventually people will get it that you never have to cash out and that the proper thing to do when you would cash out or dump is to buy BitUSD and cash out like that. I think shorting BitUSD is a bit more confusing because you have to click a different tab and the problem is all the tabs look exactly alike so it's easy to buy BitUSD when you meant to short.

Over time the interface hopefully gets better but you'll see what I mean when you test it out. Something about it makes it excessively complicated. I think a lot of this could be solved with tool tips and some sense of organization so that when a person wants to cash out its obvious what to do.
« Last Edit: August 25, 2014, 07:12:50 am by luckybit »
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Offline jae208

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I dont think the system would work if everyone shorts bitusd.. I could be wrong
http://bitsharestutorials.com A work in progress
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Offline luckybit

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This video goes over the basics of shorting bitUSD: http://youtu.be/5BV55IrZi7g?t=4m4s

Most of us here saw that video. It's too dated. A lot of changes have been made since then and it's not helping with the actual Bitshares X interface. That just explains what BitUSD is and how market pegs work.

But it doesn't take people step by step showing them how to short, how to go long, or explaining the risk vs benefit from a bull perspective.

This may be of use
http://www.investopedia.com/terms/s/shortselling.asp

Investopedia is a great learning resource.
Anyone can tell everyone "short BitUSD" and show a generic URL on shorting.

That doesn't show you how to use Bitshares X. You're talking about concepts when the problem is even expert traders will be confused by the interface and none of them have seen anything like this.

So even if we know what a short is, it doesn't make the interface less confusing. Someone has to show how it is done just like any other new software which features trading. 

Step by step, how do you short BitUSD in Bitshares X?

Now make a video (or at least a series of snapshots) showing everyone how to short BitUSD for profit. Show how it is done otherwise people are going to get something wrong, lose their money, or not take risks.

A script should basically be "this is how you do a short on BitUSD and make a quick profit as a bull".

Step one, "click the short tab" *attach image*
Step two, "enter the values here, understand that this is BitUSD and not real USD, and that you're betting on the BTSX price to rise in relation to it" *attach image of price chart or graph*

That kind of stuff. But if we assume everyone is both an experienced trader, somehow able to understand what BitUSD is, and also able to figure out the interface mechanics which aren't self explanatory, it's a recipe for disaster. Just my take on it.

If I can I'll make some images myself but the ideal is we need to set up some blogs or something so that people can follow along with an expert trader.  I don't see how it can hurt and if you're the person who knows how to use Bitshares X well then perhaps you're the best candidate to make the blog.
« Last Edit: August 25, 2014, 07:01:06 am by luckybit »
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Offline jae208

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This video goes over the basics of shorting bitUSD: http://youtu.be/5BV55IrZi7g?t=4m4s

Most of us here saw that video. It's too dated. A lot of changes have been made since then and it's not helping with the actual Bitshares X interface. That just explains what BitUSD is and how market pegs work.

But it doesn't take people step by step showing them how to short, how to go long, or explaining the risk vs benefit from a bull perspective.

This may be of use
http://www.investopedia.com/terms/s/shortselling.asp

Investopedia is a great learning resource.
http://bitsharestutorials.com A work in progress
Subscribe to the Youtube Channel
https://www.youtube.com/user/BitsharesTutorials

Offline luckybit

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This video goes over the basics of shorting bitUSD: http://youtu.be/5BV55IrZi7g?t=4m4s

Most of us here saw that video. It's too dated. A lot of changes have been made since then and it's not helping with the actual Bitshares X interface. That just explains what BitUSD is and how market pegs work.

But it doesn't take people step by step showing them how to short, how to go long, or explaining the risk vs benefit from a bull perspective.
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Offline yellowecho

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Offline cygnify

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I agree. I kind of have an idea, but if I'm dealing with a considerable amount of money I want to be 99% sure I know what I'm doing before I do anything.
 +5%

well... I had 10K USD when the price was 0.00817 USD ,but I don't want to risk it .I don't have 99% sure .

So......

If I had , now ..it would be 40K USD   :o

Oh no, you can never really know what the market is going to do. I mean 99% sure I know what I'm doing by shorting or going long or any other combo of options I choose through BitSharesX

Offline luckybit

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To be fair, I think we need bullish and bearish guides. I know which one I am, but I'm hoping there also will be someone on the other side with BitUSD.
Merchants might want that guide right?
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Offline Gentso1

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A more in depth guide using figures and showing the work through examples would be great. The Google doc is kinda vague. In stead of making a whole new guide why not just edit it and use some example figures. I think its a great start but it needs more.

Offline jae208

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I agree. I kind of have an idea, but if I'm dealing with a considerable amount of money I want to be 99% sure I know what I'm doing before I do anything.
 +5%

well... I had 10K USD when the price was 0.00817 USD ,but I don't want to risk it .I don't have 99% sure .

So......

If I had , now ..it would be 40K USD   :o

so did you already sell?


Also, I suspect that once trading starts there will be many people who lose money and many who will gain money.
So if you're a bit risk averse wait until you learn enough and feel comfortable before you make a move.
« Last Edit: August 25, 2014, 04:40:41 am by jae208 »
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Offline donkeypong

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To be fair, I think we need bullish and bearish guides. I know which one I am, but I'm hoping there also will be someone on the other side with BitUSD.

Offline cygnify

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I agree. I kind of have an idea, but if I'm dealing with a considerable amount of money I want to be 99% sure I know what I'm doing before I do anything.
 +5%

Offline jae208

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is this sufficient?  https://bitsharestalk.org/index.php?topic=7103.0

It's a good start but it's not focused on the needs of bulls. For example we all have a general idea of what we want to do but what if some people look at the interface complexity and there is just too many options?

For that reason I think a lot of bulls are going to need a visual step through of the process kind of like how any trading software would have. So when we say "just short BitUSD" we then have to provide a Youtube video showing the process for shorting BitUSD.

I know you would think everyone could figure it out on their own but if people are intimidated by the interface they will do the conservative thing and not risk as much money. It also ties into marketing because if people figure out that they can cash out into BitUSD or short BitUSD and can understand the power of it that is the best marketing we can have right now.

 +5%
http://bitsharestutorials.com A work in progress
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https://www.youtube.com/user/BitsharesTutorials

Offline luckybit

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is this sufficient?  https://bitsharestalk.org/index.php?topic=7103.0

It's a good start but it's not focused on the needs of bulls. For example we all have a general idea of what we want to do but what if some people look at the interface complexity and there is just too many options?

For that reason I think a lot of bulls are going to need a visual step through of the process kind of like how any trading software would have. So when we say "just short BitUSD" we then have to provide a Youtube video showing the process for shorting BitUSD.

I know you would think everyone could figure it out on their own but if people are intimidated by the interface they will do the conservative thing and not risk as much money. It also ties into marketing because if people figure out that they can cash out into BitUSD or short BitUSD and can understand the power of it that is the best marketing we can have right now.

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Offline toast

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Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline luckybit

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I know we have a general investment guide but it's not very focused. This thread is for people who believe Bitshares is very underpriced, should be at least $1, and who want to invest accordingly though the Bitshares interface.

A lot of us here think the price of BTSX should be at least $1 (some even think $10 is reasonable) and do not plan to sell below a certain threshold. Since a lot of us are bulls wouldn't it be helpful if there was a guide showing us how to invest in our self interest using the currently confusing Bitshares X interface? A Youtube video could accomplish this if anyone wants to provide the example on the test net.

In Bitshares X right now there is no built in help guides, no tool tips, etc. What we need is a guide which explains in plain english without complicated terminology like derivatives shorts, margins, market making. All of this terminology has to be explained because even seasoned crypto traders who might grasp the concepts somewhat will never have seen any market like this before.

Visual step by step guides are needed

If I think Bitshares is worth at least $1 then how would I go about shorting BitUSD to reflect my prediction?  If BitUSD crashes in price vs BTSX as bulls expect then at what point is profit made? Is it made only if it crashes to the point where BTSX is equal to $1 in BitUSD or are profits made all the way to $1?

Here is a chance for bulls who understand the terminology to explain what they intend to do, why, and how it would work in the Bitshares interface. One idea I could suggest if the help guides are ever included in Bitshares X is that the user of Bitshares X should be able to choose an investment mode.

Something like: Bear mode, Bull mode, Market maker mode.

Then from there the interface should adjust to the mode they are in to make it easier for the user. As it is now it's very powerful but it also seems very easy to mess up due to the interface having a lot going on. Having different modes would reduce complexity and help to adjust the interface to the needs of different psychological mind states of investors. In the future if there are information feeds then they would be tailored to these different modes.

The reason this is good is because the easier it is for people to figure out that they don't have to cash out anymore, they don't have to worry about fiat or even BTC anymore, the better it will be for all of our share prices. Less people will leave the ecosystem and if people get bullish it would reflect within Bitshares X.

« Last Edit: August 25, 2014, 12:44:59 am by luckybit »
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