Author Topic: Why is Bitsharesx dropping like a rock?  (Read 7515 times)

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Offline 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.

Offline luckybit

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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.
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Offline cygnify

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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.

Offline CoinHoarder

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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. :)
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Offline luckybit

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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.
« Last Edit: August 27, 2014, 03:09:02 am by luckybit »
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Offline cygnify

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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.

Offline luckybit

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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.
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merockstar

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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.

Offline hamiltino

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

Offline cygnify

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

Offline JakeThePanda

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

Offline bluebit

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Like a rock, woa like a rock!!!!!!
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Offline tonyk

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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!
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline CoinHoarder

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Offline bitmeat

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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.