Why is Bitsharesx dropping like a rock?

[donkeypong]

I for one find this pull back very healthy.

When life gives you earthquakes, shred 'em.

[jae208]

great chance to short once it starts going up

I'm hoping that its volatile these next few days

[masterfully]

So everytime I try to load bitusd on the market screen it just sits there perpetually loading the sell orders, any ideas how to fix this?

[bitmeat]

I think it's healthy that it's dropping, and also will allow people who missed the run up a second chance to get in cheap:

https://bitsharestalk.org/index.php?topic=7714

[Cryptofreakoutlaw31]

I have been buying BitUSD at the moment by using the profits that I made from each profitable trade that I executed at Bittrex.   During the last couple of days, I was day-trading an alt coin called Greenbacks(GB) on Bittrex and I was using the GB trading profits to buy BTSX on Bter.  after that, I withdrew the BTSX that I bought with the GB trading profits into my Bitshares X wallet and once those BTSX arrived in my wallet, I immediately bought BitUSD with them.  I wanted to do it this way since 1.) I made some profitable GB trades on Bittrex and 2.) I already had some BTSX in my wallet but I did not want to use the remaining BTSX (about 500+ BTSX left) in my wallet to buy BitUSD because I had already sold a lot of BTSX for a good profit during the run up to buy PTS and I wanted to keep the remaining 500+ BTSX that I bought when the price was under 2000 satoshi/BTSX. 


EDIT: My BitUSD purchases on the BitSharesX wallet decentralized exchange went very well and I had no issues at all.  I am satisfied with it. 

EDIT 2:   I bought my first small amount of BitUSD at 20.75 BTSX/USD level and then again much later when the level was at 24.97 BTSX/USD. 

[oldman]

Bitsharesx is starting to look more like a pump and dump by someone in China. I realize Bitsharesx was not created to pump but someone seems to be taking advantage of BTSX as a pump opportunity. Will Bitsharesx drop down into nothingness like how it's been for months since the launch?

Limited liquidity, price is going to bounce all over for the first few months. Nothing to be done except wait for capital to move into the system.

That said, I expect a pretty solid channel to form... pointing roughly to the moon.

[Riverhead]

I don't know it seems to be holding pretty well at .0007 range.  Lucky if it will go any lower.   This is holding a lot better than I was imagining a correction to take place.  I wouldn't be surprised to see another run up soon.  this technology is pretty great.

Here it is after midnight and I'm still day trading testing the 0.4.8-b wallet. It's addicting. The interface takes some getting used to but the more I use it the more comfortable I am moving around in it. It's only going to get better :D .

[mbaeichapareiko]

I don't know it seems to be holding pretty well at .0007 range.  Lucky if it will go any lower.   This is holding a lot better than I was imagining a correction to take place.  I wouldn't be surprised to see another run up soon.  this technology is pretty great.

[lucky331]

let's all make a buy order at .000055.

[bitmeat]

Dang! I was going to call bottom @ 0.55 as well :)

[GaltReport]

That's what I have been doing.

You can check it works, because I can now buy more (a fair bit mind you) then what I originally had in BTSX to begin with.

It's actually quite amazing, the peg is holding really well too.

I'm in bitUSD atm too..  I don't think this is the floor.

The peg is almost spot on.. I think we can consider the experiment a success. :)

If the experiment is a success that is what we should be talking about. Why should we care if the price of BTSX goes down even more if we can make money from the process? We know the price will eventually go back up so we can short BitBTC or BitUSD.

It seems to be the perfect market so far as long as the peg holds.

I wasn't complaining. It was pretty apparent last night that today would play out like it did.  ;)

who's calling the bottom?

.000055

Ouch!

[oco101]

That's what I have been doing.

You can check it works, because I can now buy more (a fair bit mind you) then what I originally had in BTSX to begin with.

It's actually quite amazing, the peg is holding really well too.

I'm in bitUSD atm too..  I don't think this is the floor.

The peg is almost spot on.. I think we can consider the experiment a success. :)

Yup looks good :)

[CoinHoarder]

That's what I have been doing.

You can check it works, because I can now buy more (a fair bit mind you) then what I originally had in BTSX to begin with.

It's actually quite amazing, the peg is holding really well too.

I'm in bitUSD atm too..  I don't think this is the floor.

The peg is almost spot on.. I think we can consider the experiment a success. :)

If the experiment is a success that is what we should be talking about. Why should we care if the price of BTSX goes down even more if we can make money from the process? We know the price will eventually go back up so we can short BitBTC or BitUSD.

It seems to be the perfect market so far as long as the peg holds.

I wasn't complaining. It was pretty apparent last night that today would play out like it did.  ;)

who's calling the bottom?

.000055

[hamiltino]

who's calling the bottom?

[cryptkeeper]

I can hear the nxt guys gloating as we speak.

[Riverhead]

If the experiment is a success that is what we should be talking about. Why should we care if the price of BTSX goes down even more if we can make money from the process? We know the price will eventually go back up so we can short BitBTC or BitUSD.

It seems to be the perfect market so far as long as the peg holds.

Agreed.  We need movement. Doesn't really matter the direction.

[luckybit]

That's what I have been doing.

You can check it works, because I can now buy more (a fair bit mind you) then what I originally had in BTSX to begin with.

It's actually quite amazing, the peg is holding really well too.

I'm in bitUSD atm too..  I don't think this is the floor.

The peg is almost spot on.. I think we can consider the experiment a success. :)

If the experiment is a success that is what we should be talking about. Why should we care if the price of BTSX goes down even more if we can make money from the process? We know the price will eventually go back up so we can short BitBTC or BitUSD.

It seems to be the perfect market so far as long as the peg holds.

[cygnify]

bitBTC would be an awesome market to have available ASAP. And yep for our chinese friends bitCNY too.

Would be nice if the markets we divided into live and not live that would help heaps for starters.

[CoinHoarder]

That's what I have been doing.

You can check it works, because I can now buy more (a fair bit mind you) then what I originally had in BTSX to begin with.

It's actually quite amazing, the peg is holding really well too.

I'm in bitUSD atm too..  I don't think this is the floor.

The peg is almost spot on.. I think we can consider the experiment a success. :)

[luckybit]

Bitsharesx is starting to look more like a pump and dump by someone in China. I realize Bitsharesx was not created to pump but someone seems to be taking advantage of BTSX as a pump opportunity. Will Bitsharesx drop down into nothingness like how it's been for months since the launch?

Since it was launched its been in the top 10. Its dropping for a number of factors one of which is that some people want smaller quicker profits now rather than larger profits later

It also has to do with the fact that BitBTC isn't activated yet. Why?
BitCNY isn't activated yet. Why?

When both are activated then we'll have more flexibility but the best move I can see is to buy BitUSD and hold it. You will not lose any USD value during the dumping because holding USD is dumping within Bitshares itself.

Do not sell for actual fiat unless you have a bill you want to pay or your taxes. Do not cash out into Bitcoin thinking somehow that you wont end up buying back in at a higher price later.

That's what I have been doing.

You can check it works, because I can now buy more (a fair bit mind you) then what I originally had in BTSX to begin with.

It's actually quite amazing, the peg is holding really well too.

Yes and we need a thread on this forum titled: "What to do when newbies dump BTSX" with a set of instructions about how we can profit by it. I'm making a profit as are you but the majority of people don't even know it's possible.

I actually feel sorry for people who get out with the intention of trying to get back in later. It takes a lot longer to go through Coinbase to get your cash in and out.

[cygnify]

That's what I have been doing.

You can check it works, because I can now buy more (a fair bit mind you) then what I originally had in BTSX to begin with.

It's actually quite amazing, the peg is holding really well too.

[luckybit]

Bitsharesx is starting to look more like a pump and dump by someone in China. I realize Bitsharesx was not created to pump but someone seems to be taking advantage of BTSX as a pump opportunity. Will Bitsharesx drop down into nothingness like how it's been for months since the launch?

Because people don't know how to use it. Buy BitUSD now while you still can and ride it out.

Once it falls to the floor sell BitUSD and get more Bitshares than what you had when you started.

If I'm wrong then someone correct me but that is what I'm doing.

[merockstar]

after a 1000% rise like we just witnessed, I'd be worried about BTSX's health as a cryptocurrency if it didn't correct a little.

volatility has been the hallmark of the crypto ever since bitcoin was birthed.

cryptos will continue to be volatile (except bitFiat, which is stable by design) until they are widely enough known that the market cap is so high that clusters of rich speculators can't manipulate the price.

[hamiltino]

what goes up must come down. Almost time for me to short.

[cygnify]

Yea there was almost 100 btc up on that wall around that time, didnt spook the market at all. Good sign.

[JakeThePanda]

Yeah well, a 67btc sell wall just got destroyed.

[bluebit]

Like a rock, woa like a rock!!!!!!

[tonyk]

I for one find this pull back very healthy. And that is not only because of my and my friends material interests.

Agree! Completely healthy and natrual price movement. I would be worried if it kept going and going forever.

I actualy hope that we hit that 32 BTSX/USD level and see what happens once we take out all the margins at 31, it might generate a short squeeze. Not fun for the shorters, but would be nice to see how the system handles it. Plus it will shuffle the margin levels a bit.

Plus it will give some wisdom to the mindless/greedy BTX bulls that do shorting well below parity!

[CoinHoarder]

[bitmeat]

I for one find this pull back very healthy. And that is not only because of my and my friends material interests.

Agree! Completely healthy and natrual price movement. I would be worried if it kept going and going forever.

I actualy hope that we hit that 32 BTSX/USD level and see what happens once we take out all the margins at 31, it might generate a short squeeze. Not fun for the shorters, but would be nice to see how the system handles it. Plus it will shuffle the margin levels a bit.

[tonyk]

I for one find this pull back very healthy. And that is not only because of my and my friends material interests.

[Riverhead]

Bitsharesx is starting to look more like a pump and dump by someone in China. I realize Bitsharesx was not created to pump but someone seems to be taking advantage of BTSX as a pump opportunity. Will Bitsharesx drop down into nothingness like how it's been for months since the launch?

There was an initial exuberance when the market launched which caused the typical crypto buying frenzy. Frenzy has passed and now people are taking profits. It'll probably go back and forth a bit like this as news gets released and the marketing campaign kicks off. Just hold on and don't panic. These are early days. What the market does in the first few weeks says nothing about the long term staying power of the ecosystem.

[puppies]

The spectacular news is that even though there is still currently a discount on bitUSD it is tracking quite nicely.

[jae208]

Bitsharesx is starting to look more like a pump and dump by someone in China. I realize Bitsharesx was not created to pump but someone seems to be taking advantage of BTSX as a pump opportunity. Will Bitsharesx drop down into nothingness like how it's been for months since the launch?

Since it was launched its been in the top 10. Its dropping for a number of factors one of which is that some people want smaller quicker profits now rather than larger profits later

[JakeThePanda]

Will Bitsharesx drop down into nothingness like how it's been for months since the launch?

Just when I thought this forum was troll free.  Welcome! ;D

[lucky331]

trends come and go in the open market be it btc, ltc etc.. etc.  if you're a trader, the thing is not to predict where the market is going, but rather follow a strategy that suits you and follow a good bankroll management plan.  if you are a long term investor, well..  no need to worry then.  just HODL.

[Marketorder]

Bitsharesx is starting to look more like a pump and dump by someone in China. I realize Bitsharesx was not created to pump but someone seems to be taking advantage of BTSX as a pump opportunity. Will Bitsharesx drop down into nothingness like how it's been for months since the launch?