BTC going down, BTSX going up

[oldman]

I bought my first BTSX today (small fish).  I thought that when bitcoin goes up alts often go up and when bitcoin goes down alts often go down even more (not that bitshares-x is a mere 'alt') so it could be a good time to buy.  But who knows it's so young it's incredibly difficult to know how to value it.  But if this market peg keeps working allowing a market of endless assets to exist with so many uses and dacs too, I can see that becoming huge potentially, which is why I thought its worth hedging a little from bitcoin.

Welcome, great to have you aboard!

[matt608]

I bought my first BTSX today (small fish).  I thought that when bitcoin goes up alts often go up and when bitcoin goes down alts often go down even more (not that bitshares-x is a mere 'alt') so it could be a good time to buy.  But who knows it's so young it's incredibly difficult to know how to value it.  But if this market peg keeps working allowing a market of endless assets to exist with so many uses and dacs too, I can see that becoming huge potentially, which is why I thought its worth hedging a little from bitcoin.

Welcome to BitShares! I think you'll be very happy with your decision.

Thanks :) 

[sschechter]

Last time BTC took an unexpected dump (a month ago), BTSX led the recovery to %600+ gains.  Will history repeat?

[donkeypong]

I bought my first BTSX today (small fish).  I thought that when bitcoin goes up alts often go up and when bitcoin goes down alts often go down even more (not that bitshares-x is a mere 'alt') so it could be a good time to buy.  But who knows it's so young it's incredibly difficult to know how to value it.  But if this market peg keeps working allowing a market of endless assets to exist with so many uses and dacs too, I can see that becoming huge potentially, which is why I thought its worth hedging a little from bitcoin.

Welcome to BitShares! I think you'll be very happy with your decision.

[matt608]

I bought my first BTSX today (small fish).  I thought that when bitcoin goes up alts often go up and when bitcoin goes down alts often go down even more (not that bitshares-x is a mere 'alt') so it could be a good time to buy.  But who knows it's so young it's incredibly difficult to know how to value it.  But if this market peg keeps working allowing a market of endless assets to exist with so many uses and dacs too, I can see that becoming huge potentially, which is why I thought its worth hedging a little from bitcoin.

[oldman]

what do you mean? the traded volume of btsx has fallen and the reason price is up in satoshi is because bitcoin has fallen

Have been watching bter, bids keep nibbling up.

Volume down, true, but usually price drops with volume.

Seems like there's a few folks buying... guess I'm hoping BTC value is looking for an alternative and finding BTSX.

:D

In the past 24 hours, BTC price has dropped by ~5% and BTSX has raised by 5% (relative to BTC). So of the $250million has left BTC, maybe $3million (at most) went into BTSX. So maybe something like 1% of the BTC volume out has maybe went into BTSX.

That would be a trickle...

BTSX is holding its own. Almost flat right now in the face of a huge BTC/crypto slide.

I'm hoping this may encourage at least some BTC value to step on over.

[donkeypong]

BTSX is holding its own. Almost flat right now in the face of a huge BTC/crypto slide.

[maqifrnswa]

In the past 24 hours, BTC price has dropped by ~5% and BTSX has raised by 5% (relative to BTC). So of the $250million has left BTC, maybe $3million (at most) went into BTSX. So maybe something like 1% of the BTC volume out has maybe went into BTSX.

[serejandmyself]

what do you mean? the traded volume of btsx has fallen and the reason price is up in satoshi is because bitcoin has fallen

[oldman]

Wonder if some that BTC value is cashing out and heading to BTSX? Perhaps a trickle....