"its up 1000% in a week, so a 50% pullback seems an inevitability"

[Riverhead]

The bitshares wallet is rather buggy at the moment. It crashes every 5-10 mins..main reason I'm keeping my btsx in the exchange.

They use the same software we use. Might be better to keep them in your wallet and then create a wallet with a few BTSX to play with. I have three wallets I switch between just be renaming wallets\default directory. default.markets default.portfolio, etc.

[Maximus0352]

The bitshares wallet is rather buggy at the moment. It crashes every 5-10 mins..main reason I'm keeping my btsx in the exchange.

[xeroc]

We need to fix some bugs prior to that push... but yes, we have proven the basic capability.

Yhea

- DPOS: *check*
- TITAN: *check*
- account names: *check*
- blockchain security: *check*
- Asset trades: *check*
- market peg: *check*

almost ready to go :)

//edit: Ah yhea, .. btw... most moon rockets run on (at least) two-stage igition/thruster systems :)

[bytemaster]

We need to fix some bugs prior to that push... but yes, we have proven the basic capability.

[oldman]

`

Whilst I share your expectation that we have only just started, that still doesnt answer the point that a 400% bull run makes a 50% crash very likely, and not a "black swan" scenario.

Apologies, my post could have been clearer.

When assets bubble and crash it is because value flows into and then out of the asset.

With BTSX it is a one way trip. Value enters via BTSX and flows to cryptives backed by BTSX.

So when BTSX 'crashes' the value flows to bitUSD, bitCNY etc. rather than to fiat, BTC, etc.

This, combined with the very high mobility of crypto-equity (crypto-value?) may result in sustained absorbtion of a vast amount of capital that never leaves the system.

Ie. BTSX just keeps going up. And up. And up.

At least that's what I'd like to see... ;)

Sorry but this is assumes that most BTSX trading takes place on the X exchange, which is not the case. And its not a satisfying answer for someone who is not yet convinced by BTSX.

if BTSX -> bitAsset trading occurs on external exchanges (ie. Bter BTSX -> bitUSD) the traded value is still retained in the Bitshares ecosystem.

Certainly if BTSX -> notbitAsset trading occurs on external exchanges (ie. Bter BTSX -> BTC) value leaves the ecosystem.

What I am plugging is that going forward there will be less and less motivation to move value outside of the ecosystem.

ie. why trade BTSX for BTC when you can trade BTSX for bitBTC (faster transfers, TITAN, etc.) or bitBTC5 (faster transfers, TITAN, ROI).

All of this retained value will ultimately be reflected in the market cap of BTSX.

Kind of a Hotel California scenario.

The problem atm is that most people keep their holdings on exchanges to buy and sell for short term profits. This will change hopefully as more people grasp the concept of bitAssets.

When people realize they can buy and sell any asset on a decentralized exchange with low fees and negligible counter party risk (ie. exchange default) trading volume will migrate to the X exchange (good for BTSX shareholders) and trade value will migrate to bitAssets (also good for BTSX shareholders).

At this point the tech has proven viable and we now all we need is a marketing push to bring liquidity....

[bitbadger]

`

Whilst I share your expectation that we have only just started, that still doesnt answer the point that a 400% bull run makes a 50% crash very likely, and not a "black swan" scenario.

Apologies, my post could have been clearer.

When assets bubble and crash it is because value flows into and then out of the asset.

With BTSX it is a one way trip. Value enters via BTSX and flows to cryptives backed by BTSX.

So when BTSX 'crashes' the value flows to bitUSD, bitCNY etc. rather than to fiat, BTC, etc.

This, combined with the very high mobility of crypto-equity (crypto-value?) may result in sustained absorbtion of a vast amount of capital that never leaves the system.

Ie. BTSX just keeps going up. And up. And up.

At least that's what I'd like to see... ;)

Sorry but this is assumes that most BTSX trading takes place on the X exchange, which is not the case. And its not a satisfying answer for someone who is not yet convinced by BTSX.

if BTSX -> bitAsset trading occurs on external exchanges (ie. Bter BTSX -> bitUSD) the traded value is still retained in the Bitshares ecosystem.

Certainly if BTSX -> notbitAsset trading occurs on external exchanges (ie. Bter BTSX -> BTC) value leaves the ecosystem.

What I am plugging is that going forward there will be less and less motivation to move value outside of the ecosystem.

ie. why trade BTSX for BTC when you can trade BTSX for bitBTC (faster transfers, TITAN, etc.) or bitBTC5 (faster transfers, TITAN, ROI).

All of this retained value will ultimately be reflected in the market cap of BTSX.

Kind of a Hotel California scenario.

The problem atm is that most people keep their holdings on exchanges to buy and sell for short term profits. This will change hopefully as more people grasp the concept of bitAssets.

Yes, exactly.  There are people who basically live on the 3rd party exchanges and never even download the wallet for the coins that they trade.  It would be interesting to know how many BTSX are held by 3rd party exchanges. 

Apparently over 10,000 BTC worth has been traded on 3rd party exchanges in the past 24 hours.  That is $5M of volume in BTSX on 3rd party exchanges. 

Or, to put it into direct terms, ~125 Million of the 2 Billion BTSX available, or roughly 1/16th of the entire supply, has changed hands within the past 24 hours... on 3rd party exchanges.  Of course, a lot of these coins have been churned, so reduce by a factor of 2 or 4, but still that's a substantial amount of BTSX on 3rd party exchanges and not held in wallets.

[hamiltino]

`

Whilst I share your expectation that we have only just started, that still doesnt answer the point that a 400% bull run makes a 50% crash very likely, and not a "black swan" scenario.

Apologies, my post could have been clearer.

When assets bubble and crash it is because value flows into and then out of the asset.

With BTSX it is a one way trip. Value enters via BTSX and flows to cryptives backed by BTSX.

So when BTSX 'crashes' the value flows to bitUSD, bitCNY etc. rather than to fiat, BTC, etc.

This, combined with the very high mobility of crypto-equity (crypto-value?) may result in sustained absorbtion of a vast amount of capital that never leaves the system.

Ie. BTSX just keeps going up. And up. And up.

At least that's what I'd like to see... ;)

Sorry but this is assumes that most BTSX trading takes place on the X exchange, which is not the case. And its not a satisfying answer for someone who is not yet convinced by BTSX.

if BTSX -> bitAsset trading occurs on external exchanges (ie. Bter BTSX -> bitUSD) the traded value is still retained in the Bitshares ecosystem.

Certainly if BTSX -> notbitAsset trading occurs on external exchanges (ie. Bter BTSX -> BTC) value leaves the ecosystem.

What I am plugging is that going forward there will be less and less motivation to move value outside of the ecosystem.

ie. why trade BTSX for BTC when you can trade BTSX for bitBTC (faster transfers, TITAN, etc.) or bitBTC5 (faster transfers, TITAN, ROI).

All of this retained value will ultimately be reflected in the market cap of BTSX.

Kind of a Hotel California scenario.

The problem atm is that most people keep their holdings on exchanges to buy and sell for short term profits. This will change hopefully as more people grasp the concept of bitAssets.

[changematey]

Well I still confused by lot of the BitUSD trading. BM, any chances of a layman video? And from the looks of it, there is a huge - 100k bet that BTSX will have trouble crossing 1.3 $/BTSX barrier.

Any bets that far out are likely to be canceled long before we hit that price.

Yeah most likely. Though my confusion is arising from this fact. My 1.3 calculation is derived by current BTSX price in USD X price of BTSX/BITUSD == 0.038439 * 33.33 = 1.28

Now depending on BTSX price movement the same order could change, say BTSX increases to 1 USD, then the price order will be 33.33
or if say decreases to 0.02 then order becomes 0.6666 USD. So in case of an ever increasing market, order will be never hit and in case of a falling price, hit very easily. I am not sure of the repercussion of the same.

Edit: Just realised this is a pretty neat to avoid the BTC denomination which many alts face. They become more susceptible and dependable on how BTC will move.

[bytemaster]

Well I still confused by lot of the BitUSD trading. BM, any chances of a layman video? And from the looks of it, there is a huge - 100k bet that BTSX will have trouble crossing 1.3 $/BTSX barrier.

Any bets that far out are likely to be canceled long before we hit that price. 

[changematey]

Well I still confused by lot of the BitUSD trading. BM, any chances of a layman video? And from the looks of it, there is a huge - 100k bet that BTSX will have trouble crossing 1.3 $/BTSX barrier.

[oldman]

`

Whilst I share your expectation that we have only just started, that still doesnt answer the point that a 400% bull run makes a 50% crash very likely, and not a "black swan" scenario.

Apologies, my post could have been clearer.

When assets bubble and crash it is because value flows into and then out of the asset.

With BTSX it is a one way trip. Value enters via BTSX and flows to cryptives backed by BTSX.

So when BTSX 'crashes' the value flows to bitUSD, bitCNY etc. rather than to fiat, BTC, etc.

This, combined with the very high mobility of crypto-equity (crypto-value?) may result in sustained absorbtion of a vast amount of capital that never leaves the system.

Ie. BTSX just keeps going up. And up. And up.

At least that's what I'd like to see... ;)

Sorry but this is assumes that most BTSX trading takes place on the X exchange, which is not the case. And its not a satisfying answer for someone who is not yet convinced by BTSX.

if BTSX -> bitAsset trading occurs on external exchanges (ie. Bter BTSX -> bitUSD) the traded value is still retained in the Bitshares ecosystem.

Certainly if BTSX -> notbitAsset trading occurs on external exchanges (ie. Bter BTSX -> BTC) value leaves the ecosystem.

What I am plugging is that going forward there will be less and less motivation to move value outside of the ecosystem.

ie. why trade BTSX for BTC when you can trade BTSX for bitBTC (faster transfers, TITAN, etc.) or bitBTC5 (faster transfers, TITAN, ROI).

All of this retained value will ultimately be reflected in the market cap of BTSX.

Kind of a Hotel California scenario.

[Maximus0352]

My buy in was at 0.0001 as well..they say we will be 0.43 by the end of September, hold lads hold!

[Riverhead]

My in price was 0.00001337. Wasn't exactly market price but I couldn't resist :D

[feedthemcake]

Looks like a 20% correction.  Yay.

looks more like a 35% atm  :(

I bought at .0001 and I'm holding for now.

[progmac]

Looks like a 20% correction.  Yay.

looks more like a 35% atm  :(

I hate how captivated i am by the stupid btsx price. I think everyone was waiting for someone to flinch. The question is now whether there is enough underlying value for it to pick back up. Of course, there is :)