BitShares Forum
Main => General Discussion => Topic started by: speedy on February 16, 2014, 08:57:02 pm
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A fun way to estimate what the opening price of BTS will be :)
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LOL, a lot of people voted for the highest price range
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LOL, a lot of people voted for the highest price range
Well that would be at least a 20000 % increase from current prices. I think lots of those people will actually sell a bit sooner.
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If the only ones who sell use the money to develop AGS/PTS eco-system further..
Moons and moons await 8)
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LOL, a lot of people voted for the highest price range
That option might be there just to filter that =)
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The person selling at 1$ please contact me, I will have 1K
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you forgot to add $1Million per BTS 8)
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If every corporation and small business wants to be listed on the exchange, I can see each bitshare being worth upwards of 50-100,000 dollars.
I would also like to assume that there won't be mass dumping once value rises, but I know there will be. Frankly, my personal plan is to hold as much BTS as possible, so that I may own as much of each corporation as possible. I would like to be an early holder of all of these companies, because I only see long-term use for this.
I see that Invictus Innovations has a vision, and they clearly will follow through with it.
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I would not sell a BTS for under $1000. I won't even entertain negotiations if it's less than that.
If it's more than that then we can talk.
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why is $1000 the highest price on the poll? that would only put bts at a 4bil market cap. Bitcoin has reached a 12bil market cap and doesnt come close to having the same utility as bitshares. Not to mention this is the year that bitcoin/cryptocurrency atms will become ubiquitous. they just put a bitcoin atm in south station in boston...huge play. can't wait to check it out tomorrow.
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Well if everyone can agree that selling Bitshares for less than $1,000 is dumb than I think we will see Bitshares at $1,000.
Wow imagine all the new millionaires that will arise from this IPO :)
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Let's see what happens when the emotions of trading kicks in. The 500-1000 group will get cut significantly once it starts trading and the value is real. Also, just because you don't want to sell at a price lower than 1K, it doesn't mean someone wants to buy it there. BTS is a new concept and it has strong potential, but a stable price of 1k is years into the future, if ever.
If the price sniffs even $20 within the first 3 months I would be pleasantly surprised. Get off the clouds.
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+5%
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Let's see what happens when the emotions of trading kicks in. The 500-1000 group will get cut significantly once it starts trading and the value is real. Also, just because you don't want to sell at a price lower than 1K, it doesn't mean someone wants to buy it there. BTS is a new concept and it has strong potential, but a stable price of 1k is years into the future, if ever.
If the price sniffs even $20 within the first 3 months I would be pleasantly surprised. Get off the clouds.
are you kidding? selling it anything below the price of Bitshares-PTS would be a negative return on investment
most likely it will open up at $15 and will reach $1,000 this year or next.
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Let's see what happens when the emotions of trading kicks in. The 500-1000 group will get cut significantly once it starts trading and the value is real. Also, just because you don't want to sell at a price lower than 1K, it doesn't mean someone wants to buy it there. BTS is a new concept and it has strong potential, but a stable price of 1k is years into the future, if ever.
If the price sniffs even $20 within the first 3 months I would be pleasantly surprised. Get off the clouds.
are you kidding? selling it anything below the price of Bitshares-PTS would be a negative return on investment
most likely it will open up at $15 and will reach $1,000 this year or next.
Ok, sniffing $20 is likely. $1k this year is really stretching it. Hey, I hope you're right because I will be a multi-millionaire.
Please explain how selling BTS lower than the current price of Bitshares-PTS is a negative ROI? You don't know what price I bought PTS at.
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If it works as proposed, that is to say that the price of BitUSD, BitBTC and BitGLD are 100% correlated to the prices of the real assets from which they derive their value, then I suspect that bitshares will take most if not all of BTC's current market cap which is currently at $6.5 billion and falling. All bitshares needs is to rise to a $4 billion dollar market cap for each share to be $1000 a piece.
Additionally, because bitshares x allows people to hold value in stable assets, people can actually use bitAssets as currencies. Today there is less than 1 btc transaction per second, when the network can accommodate 7 tps. I expect that transaction volume on bitshares will reach this 7 tps limit at which point the developers will have to construct a faster verification method. Transaction volume demonstrates the utitlity of the networks which should be positively correlated to the price of the underlying currency of the network.
One also has to account for the community behind bitshares that is already present in china. I don't think that any of the competing second generation blockchain network can boast the same presence in the country that undoubtedly lead to the greatest rise in btc price. From a regulatory perspective even if nations, such as China, that are weary of allowing their citizens to use crypto currencies they will no longer be able to make the claim that volatility in prices makes them a terrible investment.
Lastly, it seems that some people have neglected the central premise of this DAC, which is that serves a decentralized exchange systems. I can sell bts for bitUSD or bitGLD and lock in any profits that I have made without selling my bts for physical dollars or gold. If this experiment is successful that price that people are willing to sell their bts will be very high relative to what individuals were willing to sell bitcoin for throughout its early adoption.
I for one plan on shorting as many bitAssets as possible to accumulate more bitshares and I do not plan on selling any of my bitshares until the market cap exceeds $20 billion.
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+5% for your whole post.
Please elaborate on below
I for one plan on shorting as many bitAssets as possible to accumulate more bitshares and I do not plan on selling any of my bitshares until the market cap exceeds $20 billion.
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I for one plan on shorting as many bitAssets as possible to accumulate more bitshares and I do not plan on selling any of my bitshares until the market cap exceeds $20 billion.
Perhaps you should consider hedging your portfolio and going long on BitGold :)
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I don't think it should be in accordance with the measured in dollars, should be measured by the value of BTC, more than the value of BTC should also is 2 years ;D
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I for one plan on shorting as many bitAssets as possible to accumulate more bitshares and I do not plan on selling any of my bitshares until the market cap exceeds $20 billion.
Perhaps you should consider hedging your portfolio and going long on BitGold :)
The only way to hedge is to hold bitshares. Why would I go long on an asset that derives its value from a potentially valueless commodity?
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+5% for your whole post.
Please elaborate on below
I for one plan on shorting as many bitAssets as possible to accumulate more bitshares and I do not plan on selling any of my bitshares until the market cap exceeds $20 billion.
You should refer to the introductory bitshares video if you do not understand my point:
http://www.youtube.com/watch?v=5BV55IrZi7g
Essentially if am short a bitAsset and the price of bitshares goes up relative to that bitAssets, my profit is two fold: Firstly the value of the bts that I have used as collateral go ups and secondly because I accrue more bts from the fact that the bitAsset requires less bts to back it. In the opposite scenario in which the bitAsset appreciates in value relative to bts I lose proportionately to the profit that I would have made in the first scenario. There is a great risk in shorting bitAssets, but there is also a substantial and profitable reward.
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Yep watched the video, just having trouble with some of the concepts.
I'm getting it now. Please speak some more on below. THANKS!
secondly because I accrue more bts from the fact that the bitAsset requires less bts to back it.
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Yep watched the video, just having trouble with some of the concepts.
I'm getting it now. Please speak some more on below. THANKS!
secondly because I accrue more bts from the fact that the bitAsset requires less bts to back it.
EDIT: spent some time mulling this over and reading 'bookie bob's solution to bitcoin volatility'. Think I get it now.
So if you short say bitUSD and bitsharesX goes up in value you will start owning more of the bitsharesX that previously belonged to the person who bought long on bitUSD (because they will need less bitsharesX to back up the same value of the amount of bitUSD they own).
So if you use 200% collateral to short bitUSD and the price of bitsharesX drops by 50% you would then be forced to use all of your collateral to buy back the bitUSD and destroy it, correct? In such a case one would loose all the bitsharesX that was put into making the short position?
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Yep watched the video, just having trouble with some of the concepts.
I'm getting it now. Please speak some more on below. THANKS!
secondly because I accrue more bts from the fact that the bitAsset requires less bts to back it.
EDIT: spent some time mulling this over and reading 'bookie bob's solution to bitcoin volatility'. Think I get it now.
So if you short say bitUSD and bitsharesX goes up in value you will start owning more of the bitsharesX that previously belonged to the person who bought long on bitUSD (because they will need less bitsharesX to back up the same value of the amount of bitUSD they own).
So if you use 200% collateral to short bitUSD and the price of bitsharesX drops by 50% you would then be forced to use all of your collateral to buy back the bitUSD and destroy it, correct? In such a case one would loose all the bitsharesX that was put into making the short position?
Exactly.
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if price of PTS is now around 8$, and yesterday was around 15$, does that mean that 1.29 BTS = 7$ and 1BTS ~ 5.4$ if my math is correct
yesterday => today
1PTS 15$ => 1PTS 8$ + 1.29BTS 7$ = 15$
no value is created nor destroyed
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if price of PTS is now around 8$, and yesterday was around 15$, does that mean that 1.29 BTS = 7$ and 1BTS ~ 5.4$ if my math is correct
yesterday => today
1PTS 15$ => 1PTS 8$ + 1.29BTS 7$ = 15$
no value is created nor destroyed
Value is created and destroyed because it's all in our mind and thinking. What you mean is energy isn't created or destroyed. That is not the same as value.
So if we change our minds or if we learn new infomation, we can change the value of anything or destroy the value of anything. What doesn't change is the imprint it leaves.
All actions are forever.
The best way to get an estimate of the price is to look at what people are pricing it at on this forum. It's between $100-1000 as a consensus and most people swing toward $500-1000.
But that consensus is how much we think it's worth, how much we actually sell for depends on the other opportunities that exist. Some people might sell some Bitshares to invest in something else, or just to pay their bills. Personally I wouldn't do something so silly but some people might.
The way Bitshares are designed, if it's actually deflationary like I think, then we should be putting every penny we have into BitUSD. BitUSD is more stable than the US dollar at holding value and there is no volatility. It makes sense to put as much money as you can into BitUSD to preserve your profit. If you want to speculate Bitshares will allow for that too.
I think of Bitshares as the perfect stock. It's an even better investment than Asicminer was because Asicminer was only good until difficulty caught up with it. http://www.reddit.com/r/Bitcoin/comments/1ejcul/6k_invested_in_the_asicminer_ipo_would_value_12m/
Bitshares will get better as an investment as it becomes more popular and you can lock your profits in forever in BitUSD.
The only mistake is they went with BitUSD exclusively. There are a lot of other currencies like the Euro for example. I suppose they went with the world reserve currency for a reason.
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It does kind of seem to me that PTS was supposed to crash to this level, just based on the charts. The structure of the history of the PTS price has its own force, no? All the chart traders out there.
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The only mistake is they went with BitUSD instead of BitEuro because a lot of people don't care about the dollar. It might have been a good idea to add more currencies than just BitUSD so that we could store our profit in the Euro.
The first chain includes all major currencies right? Biteuro, bityen etc
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The only mistake is they went with BitUSD instead of BitEuro because a lot of people don't care about the dollar. It might have been a good idea to add more currencies than just BitUSD so that we could store our profit in the Euro.
The first chain includes all major currencies right? Biteuro, bityen etc
I don't think it does. I believe it's just BitUSD but maybe someone can correct me if I'm wrong? If it includes all the major currencies then I could see everyone around the world putting their profits into Bitshares. If you earn money from Bitcoin going up against the dollar instead of cashing out you can buy Bitshares and store it in BitUSD. There is no reason to ever cash out anymore and that is a game changer if nothing else is.
The only reason for people to cash out would be to pay taxes or pay for things which require fiat currency. You don't have to cash out to lock in your profits.
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The only mistake is they went with BitUSD instead of BitEuro because a lot of people don't care about the dollar. It might have been a good idea to add more currencies than just BitUSD so that we could store our profit in the Euro.
The first chain includes all major currencies right? Biteuro, bityen etc
I don't think it does. I believe it's just BitUSD but maybe someone can correct me if I'm wrong? If it includes all the major currencies then I could see everyone around the world putting their profits into Bitshares. If you earn money from Bitcoin going up against the dollar instead of cashing out you can buy Bitshares and store it in BitUSD. There is no reason to ever cash out anymore and that is a game changer if nothing else is.
The only reason for people to cash out would be to pay taxes or pay for things which require fiat currency. You don't have to cash out to lock in your profits.
https://bitsharestalk.org/index.php?topic=1696.0
struct asset
{
enum type
{
bts = 0, // 1 BitShare (smallest storable unit)
btc = 1,
gld = 2,
slv = 3,
usd = 4, // $0.001 = 1 BitUSD
count, // TODO: move this to the end, for now this will shorten print statements
cny = 5,
gbp = 6,
eur = 7,
jpy = 8, // Japan Yen
chf = 9, // Swiss Frank #5 world currency
aud = 10, // Austrialia
cad = 11, // Canada
sek = 12, // Sweedish Krona
hkd = 13, // Hong Kong
wti = 14, // Light Sweet Crude Oil
iii = 15, // value of 1 of 1 billion shares in Invictus Innovations, Inc
};
}
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The way Bitshares are designed, if it's actually deflationary like I think, then we should be putting every penny we have into BitUSD. BitUSD is more stable than the US dollar at holding value and there is no volatility. It makes sense to put as much money as you can into BitUSD to preserve your profit. If you want to speculate Bitshares will allow for that too.
Bitshares will get better as an investment as it becomes more popular and you can lock your profits in forever in BitUSD.
Why would anyone bother with USD anymore, BitUSD is ok if there is no inflation in USD, also there is BitBTC with no inflation in BTC (after all mined out).
If you go long with BitBTC you get +5% BTC which is in my opinion way way better than +5% USD
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The way Bitshares are designed, if it's actually deflationary like I think, then we should be putting every penny we have into BitUSD. BitUSD is more stable than the US dollar at holding value and there is no volatility. It makes sense to put as much money as you can into BitUSD to preserve your profit. If you want to speculate Bitshares will allow for that too.
Bitshares will get better as an investment as it becomes more popular and you can lock your profits in forever in BitUSD.
Why would anyone bother with USD anymore, BitUSD is ok if there is no inflation in USD, also there is BitBTC with no inflation in BTC (after all mined out).
If you go long with BitBTC you get +5% BTC which is in my opinion way way better than +5% USD
What if BitBTC goes down because of some negative media attention due to Mt Gox or some arrests?
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What if BitBTC goes down because of some negative media attention due to Mt Gox or some arrests?
Again, I would rather hold something that has no or very small and predictable inflation like BitBTC or BitGold, definitely not BitUSD. On negative news on BTC go short on BitBTC and not long on BitUSD. (No fiat or fiat assets for me 8))
But there pops up a question, are you an investor or a trader? You could use Bitshares for both.
I wonder how good will technical analysis be in this system? It's been proven that it is not so good in cryptocurrency but what about bitassets?
Very interesting times ahead of us, this is just awesome :D
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What if BitBTC goes down because of some negative media attention due to Mt Gox or some arrests?
Again, I would rather hold something that has no or very small and predictable inflation like BitBTC or BitGold, definitely not BitUSD. On negative news on BTC go short on BitBTC and not long on BitUSD. (No fiat or fiat assets for me 8))
But there pops up a question, are you an investor or a trader? You could use Bitshares for both.
I wonder how good will technical analysis be in this system? It's been proven that it is not so good in cryptocurrency but what about bitassets?
Very interesting times ahead of us, this is just awesome :D
The poll is interesting too, as perhaps around 20% might sell on launch based on a lowest expected Bitshares-PTS value - the remainder who say they won't sell (80%) are likely to mop these up I would guess, if these voting ratios are a correct estimate.
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if price of PTS is now around 8$, and yesterday was around 15$, does that mean that 1.29 BTS = 7$ and 1BTS ~ 5.4$ if my math is correct
yesterday => today
1PTS 15$ => 1PTS 8$ + 1.29BTS 7$ = 15$
no value is created nor destroyed
Value is created and destroyed because it's all in our mind and thinking. What you mean is energy isn't created or destroyed. That is not the same as value.
So if we change our minds or if we learn new infomation, we can change the value of anything or destroy the value of anything. What doesn't change is the imprint it leaves.
All actions are forever.
The best way to get an estimate of the price is to look at what people are pricing it at on this forum. It's between $100-1000 as a consensus and most people swing toward $500-1000.
But that consensus is how much we think it's worth, how much we actually sell for depends on the other opportunities that exist. Some people might sell some Bitshares to invest in something else, or just to pay their bills. Personally I wouldn't do something so silly but some people might.
The way Bitshares are designed, if it's actually deflationary like I think, then we should be putting every penny we have into BitUSD. BitUSD is more stable than the US dollar at holding value and there is no volatility. It makes sense to put as much money as you can into BitUSD to preserve your profit. If you want to speculate Bitshares will allow for that too.
I think of Bitshares as the perfect stock. It's an even better investment than Asicminer was because Asicminer was only good until difficulty caught up with it. http://www.reddit.com/r/Bitcoin/comments/1ejcul/6k_invested_in_the_asicminer_ipo_would_value_12m/
Bitshares will get better as an investment as it becomes more popular and you can lock your profits in forever in BitUSD.
The only mistake is they went with BitUSD exclusively. There are a lot of other currencies like the Euro for example. I suppose they went with the world reserve currency for a reason.
The first test chain was recommended to have a limited suite of assets until it is proven and so we get to a robust market depth sooner. As the market deepens and the software matures, more and more assets can be added.
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Excellent. I think the most important thing is to get this first one right. Once it is in place and working well, then the sky is the limit with others, but no need to duplicate the formula until it's proven. It WILL be a winner, but some short term tweaking may be needed.
To all of you working long nights on this, the rest of us "passive investor" types do not take this for granted. You are helping create one hell of an opportunity, not only to make lots of money but also to improve the world for tons of people. Thanks for everything you are doing.
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I'll sell all mine for $15/ea.
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I'll sell all mine for $15/ea.
and i will buy them :D
and i don't buy a pizza with them
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I'll sell all mine for $15/ea.
\me wants them .. all of them
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If anyone on here is willing to sell there Bitshares for less than $20 a piece let me know and I'll buy $1,000 worth of your shares :)
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OK, I'll post again then after they're finally "launched".
Assuming I get any (re: PTS frozen on beedui).
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I'll sell all mine for $15/ea.
and i will buy them :D
and i don't buy a pizza with them
Why? If this poll is a good representation of the entire pool of BTS owners then based on this poll there should be about 132K BTS for sale between $1-$5 when they start trading. IMO, because this poll was made in the BTS forum, it's more optimistic than the general population of BTS owners. If this is accurate you should easily be able to buy BTS at $5. Think of this poll as the offer side of a trading book. The lowest offer and highest bid is the market.
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I'll sell all mine for $15/ea.
and i will buy them :D
and i don't buy a pizza with them
Why? If this poll is a good representation of the entire pool of BTS owners then based on this poll there should be about 132K BTS for sale between $1-$5 when they start trading. IMO, because this poll was made in the BTS forum, it's more optimistic than the general population of BTS owners. If this accurate you should easily be able to buy BTS at $5. Think of this poll as the offer side of a trading book. The lowest offer and highest bid is the market.
I'd be surprised if they were at $5... well, maybe for the first hour or so... (re: tendency for any new thing on cryptsy to start high then fall off quickly)
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... should be about 132K BTS for sale between $1-$5...
Where is that number coming from?
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I'll sell all mine for $15/ea.
and i will buy them :D
and i don't buy a pizza with them
Why? If this poll is a good representation of the entire pool of BTS owners then based on this poll there should be about 132K BTS for sale between $1-$5 when they start trading. IMO, because this poll was made in the BTS forum, it's more optimistic than the general population of BTS owners. If this accurate you should easily be able to buy BTS at $5. Think of this poll as the offer side of a trading book. The lowest offer and highest bid is the market.
I'd be surprised if they were at $5... well, maybe for the first hour or so... (re: tendency for any new thing on cryptsy to start high then fall off quickly)
Won't it be quite risky to buy BTS at launch because of the possibility of a reset? This will keep the price low. Hmmm, it sounds like shorting bitusd is a freeroll.
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... should be about 132K BTS for sale between $1-$5...
Where is that number coming from?
I'm guessing it's a very non-scientific measure of ~3.3% of the amount of BTS based on the poll. Who knows how accurate it actually is though.
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Won't it be quite risky to buy BTS at launch because of the possibility of a reset? This will keep the price low. Hmmm, it sounds like shorting bitusd is a freeroll.
What do you mean by 'freeroll'? I'm not too familiar with the term.
It's my understanding that there will not be a reset unless a fatal flaw is found so the initial chain should be treated as the real chain.
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Won't it be quite risky to buy BTS at launch because of the possibility of a reset? This will keep the price low. Hmmm, it sounds like shorting bitusd is a freeroll.
What do you mean by 'freeroll'? I'm not too familiar with the term.
It's my understanding that there will not be a reset unless a fatal flaw is found so the initial chain should be treated as the real chain.
Freeroll is a term for a poker tournament with a free entry. If the price of BTS falls off a cliff on launch then it's likely there was a fatal flaw and a new chain will be initiated. If the initial test chain works then the price of BTS will probably go to da moon. It seems like close to a freeroll (no risk) to leverage up on BTS at launch. Shorting bitusd is going short the USD vs. BTS, correct? Of course, finding someone to take the other side of this trade may be tough to do.
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Won't it be quite risky to buy BTS at launch because of the possibility of a reset? This will keep the price low. Hmmm, it sounds like shorting bitusd is a freeroll.
What do you mean by 'freeroll'? I'm not too familiar with the term.
It's my understanding that there will not be a reset unless a fatal flaw is found so the initial chain should be treated as the real chain.
Freeroll is a term for a poker tournament with a free entry. If the price of BTS falls off a cliff on launch then it's likely there was a fatal flaw and a new chain will be initiated. If the initial test chain works then the price of BTS will probably go to da moon. It seems like close to a freeroll (no risk) to leverage up on BTS at launch. Shorting bitusd is going short the USD vs. BTS, correct? Of course, finding someone to take the other side of this trade may be tough to do.
Cool, thanks for the explanation. You're correct about shorting USD vs BTS which is why I suspect BTS will likely go to da moon. 8)
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Shorting bitusd is going short the USD vs. BTS, correct? Of course, finding someone to take the other side of this trade may be tough to do.
There is always one on the other side
Always 8)
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Cool, thanks for the explanation. You're correct about shorting USD vs BTS which is why I suspect BTS will likely go to da moon. 8)
Just because everyone is trying to short BitUSD at the beggining, doesnt mean that BTS itself will trade at a large value - this is determined by what happens on the real exchanges where BTS is really handed over for BTC etc. Which is why I suspect that at least at the beginning on cryptsy BTS will trade lower than the implied value given by the BTS market, which is packed with people who are much more bullish on BTS because of their investment in it.
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Which is why I suspect that at least at the beginning on cryptsy BTS will trade lower than the implied value given by the BTS market, which is packed with people who are much more bullish on BTS because of their investment in it.
Some of that may be mitigated by the fact that some of these people may be hearing about bitshares for the first time or only had a chance now to get involved with bitshares. Also it requires people going to cryptsy with their bitshares and selling them, so if they are mostly bullish on bitshares the price they would sell at would be still reasonably high. But your point is valid, just to what degree time will tell.
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Which is why I suspect that at least at the beginning on cryptsy BTS will trade lower than the implied value given by the BTS market, which is packed with people who are much more bullish on BTS because of their investment in it.
Some of that may be mitigated by the fact that some of these people may be hearing about bitshares for the first time or only had a chance now to get involved with bitshares. Also it requires people going to cryptsy with their bitshares and selling them, so if they are mostly bullish on bitshares the price they would sell at would be still reasonably high. But your point is valid, just to what degree time will tell.
Do we know if Cryptsy is putting BTS on its exchange?
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Do we know if Cryptsy is putting BTS on its exchange?
Pretty sure that answer is no. But if there is demand, it will be inevitable. Bitshares-PTS is there so don't see why it wouldn't and BTer as well. .
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Do we know if Cryptsy is putting BTS on its exchange?
Pretty sure that answer is no. But if there is demand, it will be inevitable. Bitshares-PTS is there so don't see why it wouldn't and BTer as well. .
I think exchanges will be hesitant to add BTS at first because it's a test chain.
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Do we know if Cryptsy is putting BTS on its exchange?
Pretty sure that answer is no. But if there is demand, it will be inevitable. Bitshares-PTS is there so don't see why it wouldn't and BTer as well. .
I think exchanges will be hesitant to add BTS at first because it's a test chain.
Cryptsy has implemented a voting system to add currencies to the exchange. I believe you get 1 free vote per day and unlimited paid votes (imagine that) - though I'm not sure of what the cost of a vote is.
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Gotta give BigVern his cut. Once he has a stash, then Cryptsy will add it.
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Gotta give BigVern his cut. Once he has a stash, then Cryptsy will add it.
Isn't that what transaction fees are for, by adding it he gradually becomes a Bitshares X whale.
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That's the public part. But don't think for a moment these folks aren't playing other angles behind the scenes.
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(http://3.bp.blogspot.com/-cgWbSmtg7bc/UV79Bt4U6TI/AAAAAAAAD7k/Ec2sccT11Pg/s1600/dr-evil.jpg)
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That's the public part. But don't think for a moment these folks aren't playing other angles behind the scenes.
100% agreed.
One has to wonder, then, is it possible to create a DAC that actually operates as a real exchange? Seems to me it should be.