Author Topic: Does great marketing explain why 75% of BTSX traded volume is in CNY  (Read 5665 times)

0 Members and 1 Guest are viewing this topic.

Offline Brent.Allsop

  • Sr. Member
  • ****
  • Posts: 242
    • View Profile
    • Canonizer.com

I've also heard from some Chineese, that you hear zero about Ether, ripple, NxT... over there.  Unlike here where everyone is talking only about Ether.  It appears that over there, it is all about BTSX.


Offline serejandmyself

  • Sr. Member
  • ****
  • Posts: 358
    • View Profile
1\A lot of users from western countries are also trading on Chinese exchange too.
2\Chinese have less ways to invest other than to deposit in bank, cryptocurrency is one choice.
3\IT industrial in China is not as good as in the States but very close, so building a large exchange is possible.
Correct me if I am wrong but isn't btsx only traded on Chinese exchanges? What exchanges other exchanges can btsx be traded on.

http://coinmarketcap.com/currencies/bitshares-x/#markets
btsx - bitsharesrussia


Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12922
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BitShares: xeroc
  • GitHub: xeroc

Offline Gentso1

  • Hero Member
  • *****
  • Posts: 931
    • View Profile
  • BitShares: gentso
1\A lot of users from western countries are also trading on Chinese exchange too.
2\Chinese have less ways to invest other than to deposit in bank, cryptocurrency is one choice.
3\IT industrial in China is not as good as in the States but very close, so building a large exchange is possible.
Correct me if I am wrong but isn't btsx only traded on Chinese exchanges? What exchanges other exchanges can btsx be traded on.

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12922
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BitShares: xeroc
  • GitHub: xeroc

Offline oldman

  • Hero Member
  • *****
  • Posts: 556
    • View Profile
I agree that the basic commodities should be very high on the priority list.

BM enlightened us in another thread. see for your self:

Code: [Select]
>>> blockchain_get_asset WTI
{
  "id": 5,
  "symbol": "WTI",
  "name": "Light Sweet Crude Oil",
  "description": "1 barrel light sweet crude oil",
  "public_data": "",
  "issuer_account_id": -2,
  "precision": 10000,
  "registration_date": "20140719T000000",
  "last_update": "20140719T000000",
  "current_share_supply": 0,
  "maximum_share_supply": 1000000000000000,
  "collected_fees": 0
}

And there it is. These boys don't mess around.

 +5%

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12922
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BitShares: xeroc
  • GitHub: xeroc
I agree that the basic commodities should be very high on the priority list.

BM enlightened us in another thread. see for your self:

Code: [Select]
>>> blockchain_get_asset WTI
{
  "id": 5,
  "symbol": "WTI",
  "name": "Light Sweet Crude Oil",
  "description": "1 barrel light sweet crude oil",
  "public_data": "",
  "issuer_account_id": -2,
  "precision": 10000,
  "registration_date": "20140719T000000",
  "last_update": "20140719T000000",
  "current_share_supply": 0,
  "maximum_share_supply": 1000000000000000,
  "collected_fees": 0
}

Offline oldman

  • Hero Member
  • *****
  • Posts: 556
    • View Profile
I would love to see BitOil traded for BTSX

I'm more excited for BitOIL than GLD or SLV. Correct me if I'm mistaken but there is currently no way for the average person to trade the oil market is there?

No way as direct as buying bitOIL.

But bitOIL is not going to be that useful - will need WTI and Brent.

Perhaps bitOIL.Brent and bitOIL.WTI to start.

I agree that the basic commodities should be very high on the priority list.

Offline ripplexiaoshan

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 2300
    • View Profile
  • BitShares: jademont
1\A lot of users from western countries are also trading on Chinese exchange too.
2\Chinese have less ways to invest other than to deposit in bank, cryptocurrency is one choice.
3\IT industrial in China is not as good as in the States but very close, so building a large exchange is possible.

BTS committee member:jademont

Offline serejandmyself

  • Sr. Member
  • ****
  • Posts: 358
    • View Profile
I would love to see BitOil traded for BTSX

I'm more excited for BitOIL than GLD or SLV. Correct me if I'm mistaken but there is currently no way for the average person to trade the oil market is there?

why not? not sure over where you are but over my way i can trade it as easy as gold or silver or any other stocks
btsx - bitsharesrussia


Offline Method-X

  • Hero Member
  • *****
  • Posts: 1131
  • VIRAL
    • View Profile
    • Learn to code
  • BitShares: methodx
I would love to see BitOil traded for BTSX

I'm more excited for BitOIL than GLD or SLV. Correct me if I'm mistaken but there is currently no way for the average person to trade the oil market is there?

Offline Riverhead

BM said the CNY market will open at 3pm EST. I guess that's when the fork is. You can see the pressure building on the bitCNY:BTSX chart.

Offline bluebit

  • Sr. Member
  • ****
  • Posts: 271
    • View Profile
China 19% of world population
USA 4% of world population

It will always be 75% for CNY unless...we talk to the Saudis (OPEC) and we have them trade their oil only for BTSX, hehehe

I would love to see BitOil traded for BTSX
« Last Edit: September 10, 2014, 06:16:02 pm by bluebit »
BTSX TipMe: bluebit

Offline oldman

  • Hero Member
  • *****
  • Posts: 556
    • View Profile
BTC 38 is a great exchange. Large community brings the high volume. Now with the english site many westerners are diving into the BTSX/CNY liquidity. Like a big magnet.

Chinese are very smart investors and have identified BTSX potential. After these marketing campaigns kick in I think we will see higher volume trading from western world.

This.

Offline johncitizen

  • Full Member
  • ***
  • Posts: 142
    • View Profile
BTC 38 is a great exchange. Large community brings the high volume. Now with the english site many westerners are diving into the BTSX/CNY liquidity. Like a big magnet.

Chinese are very smart investors and have identified BTSX potential. After these marketing campaigns kick in I think we will see higher volume trading from western world.


Offline eagleeye

  • Hero Member
  • *****
  • Posts: 931
    • View Profile

It can not be replicated!

The White man is stupid (for the most part).

MHO

The Asians believe in things still.  The white man is obsessed with sex or America.  You turn them away from that for a second, and they will believe again...but for now China believes in things.

China has  already banned  crypto currency regarding bank accounts...but too lazy to enforce.....so ...still up and running.

Ya its crazy.  There are work arounds, thats what I presume is going on.

Offline eagleeye

  • Hero Member
  • *****
  • Posts: 931
    • View Profile

It can not be replicated!

The White man is stupid (for the most part).

MHO

The Asians believe in things still.  The white man is obsessed with sex or America.  You turn them away from that for a second, and they will believe again...but for now China believes in things.

Offline taoljj

  • Full Member
  • ***
  • Posts: 177
    • View Profile
 +5% +5%
The fact that 75% of daily volume in off-chain BTSX trading is in the BTSX/CNY pair intrigues me.

Sources:
http://coinmarketcap.com/currencies/bitshares-x/#markets
http://www.sosobtc.com/kline/btsx/btc38.html

Can anyone explain it ... is it purely down to the genius of the Asian' marketing team and others like Bo Shen.

And if so, how can it be replicated around the rest of the globe?

Nope.
reason 1:Only China has large automatic exchanges.
reason 2:BTC38 is the only  large exchange that enlist BTSX in China.
reason 3:Crypto Currency is a small market with around 2 million people in it , only handful of them knows BTSX. And because China has the largest population,it's clearly more people in China knows BTSX than the rest of the world just looking at the ratio.

So,it's not marketing ,just a sad fact.
BTS      Witness: delegate.taoljj

Offline CrazyCriple

  • Full Member
  • ***
  • Posts: 51
    • View Profile
This is not good. Price is still controlled by some individuals. Marketing needs to start soon to get some USD/BTSX and others going.


Offline quiz

  • Full Member
  • ***
  • Posts: 142
    • View Profile
比特股竞猜:http://btsx.me 比特股区块:http://b.btsx.me 比特股博客:http://blog.btsx.me
新浪微博号:http://weibo.com/btsxQQ群:165290499


Offline emski

  • Hero Member
  • *****
  • Posts: 1282
    • View Profile
    • http://lnkd.in/nPbhxG
Or we observe some artificially inflated numbers on the exchange. Cant be sure.
Hopefully such things will be gone after everyone starts using BitsharesX .

Offline tonyk

  • Hero Member
  • *****
  • Posts: 3308
    • View Profile

It can not be replicated!

The White man is stupid (for the most part).

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

Offline nethyb

  • Full Member
  • ***
  • Posts: 197
    • View Profile
  • BitShares: nethyb
The fact that 75% of daily volume in off-chain BTSX trading is in the BTSX/CNY pair intrigues me.

Sources:
http://coinmarketcap.com/currencies/bitshares-x/#markets
http://www.sosobtc.com/kline/btsx/btc38.html

Can anyone explain it ... is it purely down to the genius of the Asian' marketing team and others like Bo Shen.

And if so, how can it be replicated around the rest of the globe?