Thanks to aloha, cryptoLynx, leon and now have some fun
(20:21:37) 38PTSWarrior: ***************Welcome to The Buy/Short Walk Through*********************
(20:21:44) 38PTSWarrior: aloha, aloha!
(20:22:11) 38PTSWarrior: nice that you are coming, I think you saw my thread?
(20:22:19) aloha: yes
(20:22:44) 38PTSWarrior: awesome, I am between crying and nerves breakdown but not anymore, because of you
(20:23:14) aloha: I was hoping to learn along with you while somebody else was explaining how to short
(20:23:24) 38PTSWarrior: hahaha
(20:23:27) 38PTSWarrior: ahhh!
(20:23:41) 38PTSWarrior: ok good, let’s see if someone else will come in
(20:24:13) 38PTSWarrior: no explanations aloha
(20:24:16) aloha: Sorry I am not the one
(20:24:44) 38PTSWarrior: this is here do session. No explanation only click here click there
(20:25:35) 38PTSWarrior: No I am happy that you are here, you remind me of Hawaii
(20:25:52) aloha: I have been trying to short myself yesterday without any success, spent about 6 BTSX on the fees cancelling my transaction
(20:26:14) aloha: Glad to remained you of something nice
(20:26:36) 38PTSWarrior: I easily get in psycho-mode and then click here and there, I need to stop this
(20:29:52) 38PTSWarrior: I never was in Hawaii but in the TV.. it’s almost like being there
(20:32:17) aloha: I have never been there myself, but love aloha as it has very positive meaning
(20:33:46) 38PTSWarrior: E hele ka ‘elemakule, ka luahine,
a me na kamali’i a moe i ke ala
‘a’ohe mea nana e ho’opilikia.
(20:34:10) 38PTSWarrior: (Let the old men, the old women, and the children go
and sleep on the wayside; let them not be molested.)
(20:34:51) 38PTSWarrior: An old Hawaiian proverb I just googled
(20:36:01) 38PTSWarrior: In what country are you?
(20:36:23) aloha: England
(20:36:31) aloha: You
(20:36:40) 38PTSWarrior: Britannia rules the waves.. niiiice
(20:36:53) 38PTSWarrior: germany..
(20:37:05) aloha: Nice
(20:37:16) 38PTSWarrior: haha ok
(20:38:34) 38PTSWarrior: today was so grey and rainy
(20:39:11) aloha: usual english weather
(20:39:54) aloha: when did you start with Bitshares
(20:40:33) 38PTSWarrior: I am sure it came from england, it was a very polite grey and the wind smelled like fishNchips
(20:40:49) 38PTSWarrior: end of 2013
(20:41:39) 38PTSWarrior: I didn’t want to spend money on the Keyhotee ID
(20:41:41) aloha: great so you joined on time
(20:42:22) 38PTSWarrior: I saw someone writing about protoshares in the ghash.io chat
(20:42:54) 38PTSWarrior: I think that is the name. Where you could buy some ghash for btx and they were mining for you
(20:43:13) 38PTSWarrior: for BTC sorry
(20:43:59) aloha: I started with BTC last year when they were $1000
(20:44:46) aloha: Luckily invested 30% of my BTC in to AGS and PTS
(20:45:20) 38PTSWarrior: nice!
(20:45:49) 38PTSWarrior: It took so long until the client came out
(20:46:09) aloha: So we could worry
(20:46:33) 38PTSWarrior: For the first time since many years I get a feeling of easyness or positive future feeling if you know what I mean
(20:47:29) aloha: I started feeling like that since I discovered BTC, but now feeling is even better
(20:49:04) 38PTSWarrior: ' ' w e a r e t h e g e n e s i s ' ‘
(20:49:14) aloha: Still don’t understand things fully but more I read forum more understanding I get.
(20:49:29) 38PTSWarrior: I pray every day that I have AGS
(20:50:09) aloha: I will be off now, nice typing with you
(20:50:16) aloha: aloha
(20:50:25) 38PTSWarrior: yes, what a shame no one came
(20:50:30) 38PTSWarrior: aloha!
(20:54:44) 38PTSWarrior: ***************Welcome to The Buy/Short Walk Through********************
(20:54:51) 38PTSWarrior: Hi leon
(20:56:14) 38PTSWarrior: Welcome to the walk through! Are you already trading or do you want to learn?
(20:56:25) leon: hi everyone )))
(20:56:30) 38PTSWarrior: hi
(20:56:49) leon: yeah I’m trying to....but still not sure 100%
(20:57:20) 38PTSWarrior: Have a seat, we are waiting for the guru who will do us the click n fun show!
(20:57:33) leon: :-):-):-):-)
(20:57:35) 38PTSWarrior: the experience
(20:57:40) leon: would be nice
(20:58:16) 38PTSWarrior: aloha just left, we had a nice chat
(20:58:44) leon: yeah,I know him)) he’s cool guyB)B)B)...
(20:59:09) leon: could you tell me what kind of questions do you have ?
(20:59:21) leon: i mean what is clear what is unclear ?
(20:59:24) 38PTSWarrior: ah nice. I have no questions
(20:59:41) 38PTSWarrior: Here is only the do-do space
(21:00:12) 38PTSWarrior: I cannot handle any of the following words anymore: cannot write the words otherwise I flip hehe
(21:02:19) 38PTSWarrior: guess a number between 1 and 10
(21:02:27) 38PTSWarrior: is it 6?
(21:02:34) leon: no
(21:02:37) leon: it’s 3
(21:02:41) 38PTSWarrior: darn..
(21:02:51) 38PTSWarrior: .. sometimes i am wrong
(21:03:05) 38PTSWarrior: 5!
(21:03:25) 38PTSWarrior: still 3?
(21:03:47) leon: cool game )))
(21:04:00) 38PTSWarrior: yeah
(21:04:01) leon: tell me any number
(21:04:09) 38PTSWarrior: 7
(21:04:20) leon: 8 , I won
(21:04:29) 38PTSWarrior: congrats,
(21:04:39) leon: :-)
(21:05:23) 38PTSWarrior: 2 aliens are landing on planet earth
(21:05:29) 38PTSWarrior: in a desert
(21:05:36) 38PTSWarrior: they are injured and start walking
(21:05:50) 38PTSWarrior: until they reach an abandoned fuel station
(21:06:25) 38PTSWarrior: they walk up to the gas pump and one of them says:"Tell me your name earthling"
(21:06:43) 38PTSWarrior: But the gas pump doesn’t reply
(21:07:01) 38PTSWarrior: He says:"Tell me your name or I will shoot you!)
(21:07:16) 38PTSWarrior: And again, no reaction from the gas pump
(21:07:37) cryptoLynx: lulz
(21:07:40) 38PTSWarrior: He takes out his phaser and points at the gas pump. His friend sees it and runs away
(21:07:48) 38PTSWarrior: hi
(21:07:50) cryptoLynx: BitShares falling abit?
(21:07:58) cryptoLynx: hey-
(21:07:58) leon: wait wait..
(21:08:01) 38PTSWarrior: The alien shoots and there is a huge explosion!
(21:08:08) leon: continue please
(21:08:36) 38PTSWarrior: He is even more hurt and screams to his friend: “ you knew about the explosion, you ran way without telling me anything, that’s not friendship, go"
(21:09:31) 38PTSWarrior: and his friend says:” I didn’t know anything about an explosion, but you should know that I am not the kind of guy who messes with people who can swing their dick three times around their bodies and stick it in heir ears!"
(21:10:00) 38PTSWarrior: ***************Welcome to The Buy/Short Walk Through********************
(21:10:11) 38PTSWarrior: cryptoLynx!
(21:10:36) cryptoLynx: B)
(21:10:58) 38PTSWarrior: I am a bit tired, that was a lot of text haha
(21:11:35) 38PTSWarrior: Tell us crypto, are you here for learning or do you want to give aus the guru walk through?
(21:11:45) cryptoLynx: lol
(21:11:53) cryptoLynx: questions ihave
(21:12:05) 38PTSWarrior: questions are illegal
(21:12:11) 38PTSWarrior: only do-do!
(21:12:17) cryptoLynx: bitUSD volumes, are they increasing atall?
(21:12:27) 38PTSWarrior: but hey, if you have questions, it’s ok
(21:12:43) cryptoLynx: searching for any sign of utility
(21:13:45) cryptoLynx: BitShares seems MOST likely to transition from speculative value to some actual utility value on bitUSD/bitCNY
(21:14:12) cryptoLynx: so searching hard to find some confirmation of that
(21:14:45) cryptoLynx: bytemaster ever in chat?
(21:14:46) 38PTSWarrior: I hope someone will come and answer your question
(21:15:17) 38PTSWarrior: I never met anyone in the chat over 6 months, maybe 1 or 2 times
(21:15:34) cryptoLynx: ah k true, yea same-
(21:15:58) cryptoLynx: iguess that’s abit of improvement
(21:15:59) 38PTSWarrior: would be nice if there would be a beer shop so we could get a beer while we wait
(21:16:05) cryptoLynx: lol
(21:16:12) 38PTSWarrior: here in chat land
(21:16:25) cryptoLynx: :idea:
(21:16:57) leon: bitbeer
(21:17:48) cryptoLynx: gulp 8o
(21:18:05) 38PTSWarrior: I can see a wave coming, bit for bit the users are coming in the chat. there are already 6 chat members. 9, 12, and then 45 and everything starts to blink
(21:18:28) 38PTSWarrior: it’s the beginning
(21:19:19) cryptoLynx: :warning: :error: :important:
(21:19:26) leon: chat is cool...
(21:19:36) 38PTSWarrior: yeah
(21:19:38) leon: i’ll be more often here with you guys))
(21:20:02) 38PTSWarrior: nice, i have no real life flesh contacts
(21:20:21) leon: nothing is real
(21:20:31) 38PTSWarrior: sry
(21:20:40) cryptoLynx: :-(
(21:20:48) 38PTSWarrior: I was just saying it
(21:20:52) cryptoLynx: O:-D
(21:20:55) 38PTSWarrior: without thinking my dear
(21:20:58) leon: it’s all just a game
(21:20:58) cryptoLynx: lol k gotta run for abit->
(21:21:06) leon: :-):-):-)
(21:21:07) cryptoLynx: ttyl fellas
(21:21:07) 38PTSWarrior: awww, sad!
(21:21:12) 38PTSWarrior: laterz!!
(21:21:22) leon: sad? it’s beautiful
(21:21:47) leon: never mind
(21:21:59) 38PTSWarrior: yes, cryptoLynx is now on the way to a beaiful task
(21:22:23) 38PTSWarrior: just for a second I felt coldness in my heart when he said, that he is leaving
(21:22:46) leon: my short was just matched at the price 23.5
(21:23:06) 38PTSWarrior: w h a t?? I wanna do the same
(21:23:25) leon: but wait...the price now is 26
(21:23:30) leon: no point covering
(21:23:38) leon: it will be a loss
(21:24:07) 38PTSWarrior: ok
(21:24:35) 38PTSWarrior: are u trading btsx/bitusd?
(21:25:00) leon: shorting is kind of easy ...just not sure if it’s working for me yet
(21:25:01) leon: yes
(21:26:58) 38PTSWarrior: How do you short my friend? When I do this: 1000 btsx buy bitusd, 1000 btsx short. Now there will be a statement like this one: fill ask @ 0.03846. Fill ask. Does this mean it is the ask order and not the short order that “won”.
(21:29:00) 38PTSWarrior: Or could you write the steps for the buy/short thing. Like the build instructions!
(21:29:32) 38PTSWarrior: do this, go there, in case of fill ask, do this..
(21:32:12) 38PTSWarrior: Oh wait, would you like to guide me through?
(21:36:14) 38PTSWarrior: or tell me anythig
(21:36:21) 38PTSWarrior: *n
(21:37:03) 38PTSWarrior: 25.95 lowest short
(21:37:39) 38PTSWarrior: 25.50 lowest buy
(21:38:41) 38PTSWarrior: Do you know the median price?
(21:43:01) 38PTSWarrior: “...just not sure if it’s working for me yet” , ahhh, got it
(21:43:35) leon: hey...i’m back
(21:43:56) 38PTSWarrior: nice
(21:44:41) 38PTSWarrior: do you smoke the cheeba?
(21:45:08) 38PTSWarrior: sry maybe unpolite to ask
(21:45:33) leon: all right ....so you short ,let’s say 20 usd at the price 26
(21:45:42) leon: there you need 520 btsx
(21:45:54) 38PTSWarrior: wait... doing it
(21:45:58) leon: no..it’s all cool...
(21:46:26) leon: O:-DO:-DO:-D
(21:46:38) 38PTSWarrior: done
(21:47:06) 38PTSWarrior: so, you are cool.. i see hehe
(21:47:13) leon: so you see your short in open orders ,right?
(21:47:17) leon: hah))
(21:47:20) 38PTSWarrior: now the shorting?
(21:47:21) leon: how you see it?
(21:47:24) leon: 8o8o
(21:47:24) 38PTSWarrior: sure
(21:47:45) leon: and it’s a red button “cancel”?
(21:48:35) leon: so now you wait until your order is matched (you short ,you create bitusd...now one has to buy your sort
(21:48:38) 38PTSWarrior: same numbers, 20 and 26 right? ok, now i could click them both. i mean confirm
(21:48:55) leon: oh...i thought you confirmed it
(21:49:05) 38PTSWarrior: ok i clicked confirm
(21:49:14) 38PTSWarrior: i did
(21:49:30) leon: great
(21:49:35) 38PTSWarrior: now we are waiting. nice
(21:50:12) leon: now you you basically wait ,and after you order was matched ...you’ll be able to cover your position
(21:51:13) 38PTSWarrior: can you try to talk like this: “When this happens, click ther” please?
(21:52:20) leon: when you short...you freeze a particular amount of bitusd at some price (26 in our case) ...doing that you create bitusd
(21:52:29) leon: no one has to buy it
(21:52:32) 38PTSWarrior: I did this already. I bought bitUSD but have no idea if I covered because I don’t know how that works
(21:52:41) leon: wait
(21:52:46) leon: i’ll explain
(21:53:11) leon: so you created bitsud ...and let’s say I bought your short
(21:53:24) 38PTSWarrior: the 20? ok
(21:53:53) leon: after that you’ll have a green button saying “cover"
(21:54:05) 38PTSWarrior: oh! ok
(21:54:31) leon: so you’ll be able to cover....buy paying off your debt
(21:54:41) leon: which will be 20 bitusd
(21:55:08) 38PTSWarrior: So all I have to do is click the button?
(21:55:35) leon: but if you shorted ...and the price of btsx went up...so you’ll be able to buy same amount of bitusd but for less btsx
(21:55:52) leon: and there you have profit
(21:56:28) leon: cause you pay your debt and system releases the amount of btsx frozen
(21:56:36) leon: and the difference is your profit
(21:56:44) leon: this is what i understand so far
(21:56:56) leon: in my case i shorted at 23.5
(21:57:23) leon: so now if i cover ,i lose money
(21:57:50) leon: B)B)
(21:58:07) 38PTSWarrior: when i read your sentence with the word shorted, then i think: fuck, i don’t understand what he means, all i want is someone to tell me the first time, where to click. it is too much info you know. lets keep it baby-style
(21:58:33) 38PTSWarrior: I know you mean it good!
(21:58:38) leon: cool...no problem
(21:58:48) leon: tell me where to start from?
(21:59:49) 38PTSWarrior: what happens when the short order got bought. Now i can see both orders as green and pending. How will it look after someone bought the short?
(22:00:50) 38PTSWarrior: You know that bubble that pops up? what does it say in the bubble when someone buys the short?
(22:01:58) leon: what bubble? you mean the buy/sell graphs ?
(22:03:28) 38PTSWarrior: no, when someone buys it will show a bubble that said last time:"fill ask, ask sent you this and that"
(22:03:48) 38PTSWarrior: and i had bitUSD
(22:04:20) 38PTSWarrior: I believe someone bought the “buy” thing?
(22:04:26) leon: oh...
(22:04:29) leon: yes
(22:04:42) 38PTSWarrior: ah ok
(22:04:47) leon: it just says that somebody bought your short
(22:05:33) leon: do you see green button saying cover?
(22:07:22) 38PTSWarrior: where is it located?
(22:07:37) leon: in open orders
(22:07:48) leon: next to the numbers
(22:07:50) 38PTSWarrior: No, there are only 2 red fields
(22:08:08) 38PTSWarrior: “cancel"
(22:08:13) leon: oh
(22:08:15) leon: right
(22:08:30) leon: so you wait until somebody will buy your bitsud
(22:08:43) 38PTSWarrior: ok
(22:09:04) leon: when it happens you’ll have green “cover” button
(22:09:13) 38PTSWarrior: when someone buys the bitusd,ah ok!
(22:09:20) leon: yes
(22:09:23) 38PTSWarrior: oh sweet
(22:09:35) 38PTSWarrior: then i click it?
(22:09:56) leon: wait......now...this bitusd were not yours
(22:10:09) 38PTSWarrior: aha ok
(22:10:19) leon: so for you to claim back your “frozen” bitsx
(22:10:31) leon: you’ll need to pay back
(22:10:35) leon: this 20 bitsud
(22:10:45) leon: bitusd*
(22:11:05) ChatBot: Error: Connection status: 500
(22:11:12) 38PTSWarrior: test 12
(22:11:29) 38PTSWarrior: I will just accept this as a rule in the game
(22:11:46) 38PTSWarrior: I guess I don’t need to know why at the moment
(22:12:14) leon: what exactly ? how the shorting works ?
(22:12:19) 38PTSWarrior: Someone buys the “buy” or aka “fill ask"
(22:12:40) leon: yes
(22:12:53) 38PTSWarrior: To be exact: yes, how the borrowing and paying back works, the logic behnind it
(22:13:19) 38PTSWarrior: so someone buys the buy. then i have to pay back the amount. roger sir!
(22:15:36) leon: the logic is...you know that the price of btsx/bitusd will go up...so let’s say now the price is 1 bitusd 26 btsx...so when the price of btsx grows,it’ll be 1 bitusd/ 23 btsx...you want to short,which means that you freeze an amount of 520 btsx for creating 20 bitusd
(22:16:07) leon: now one has to buy this 20 bitusd
(22:16:44) leon: and when the price goes up...you buy 20 bitusd and repay it
(22:17:10) leon: the logic is that you buy let;s say 20 bitusd for 500 btsx
(22:17:17) leon: so your profit will be 20 btsx
(22:17:58) leon: i don’t know...it’s quiet simple for me ...but it’s really hard to explain ))))
(22:18:15) leon: i’m sorry if i’m not clear
(22:18:39) 38PTSWarrior: No, I just cannot compute that right away.
(22:19:15) 38PTSWarrior: Now if you could be so friendly and tell me what I have to do when someone buys the short?
(22:19:44) 38PTSWarrior: will there be a green light?
(22:19:47) leon: ok...you’ll have green cover button
(22:19:50) leon: yes
(22:19:55) 38PTSWarrior: ok
(22:20:24) leon: so ,if you see that you’re able to buy same amount of bitusd but for less btsx
(22:20:27) leon: than cover
(22:21:09) 38PTSWarrior: the green light says cover on it?
(22:21:15) leon: yep
(22:21:28) 38PTSWarrior: ok, i click it. and then?
(22:22:08) 38PTSWarrior: sry, i think then i have to..
(22:22:15) leon: it will say something like “payoff your debt
(22:22:19) 38PTSWarrior: buy ..
(22:22:23) leon: yes
(22:22:24) leon: yes
(22:22:28) 38PTSWarrior: i see
(22:22:40) 38PTSWarrior: and then click on payoff?
(22:22:59) leon: man...i’m gonna have some pasta with meatballs ))) so i’ll be back shortly))
(22:23:02) leon: yes
(22:23:14) 38PTSWarrior: awesome, wait one sec
(22:23:22) leon: and watch your balance of btsx increasing
(22:23:27) 38PTSWarrior: the process of clicking green and red is for both the same!!!!
(22:23:38) 38PTSWarrior: hooray, happy meal, i mean enjoy your meatballs!
(22:23:58) leon: thanks ))
(22:24:17) leon: i hope that helped you a little
(22:24:34) 38PTSWarrior: whats your btsx adress if you want to give it to me?
(22:24:49) leon: leonx
(22:24:56) 38PTSWarrior: thx!