BitShares Forum

Main => Technical Support => Topic started by: knircky on October 15, 2015, 10:35:13 am

Title: How can i get BTS
Post by: knircky on October 15, 2015, 10:35:13 am

So i have the wallet running.

I love the fact that its a light wallet. To do anything i need to get some bts.

How?

I thought shape shift might be a good try but, no.

So is there any way to get some BTS right simply for bitcoin?

Title: Re: How can i get BTS
Post by: Akado on October 15, 2015, 10:41:20 am

Quote from: knircky on October 15, 2015, 10:35:13 am

So i have the wallet running.

I love the fact that its a light wallet. To do anything i need to get some bts.

How?

I thought shape shift might be a good try but, no.

So is there any way to get some BTS right simply for bitcoin?

Yes there is :)

See here:
https://bitshares.org/deposit/

Bridges/gateways are the faster , easier and safer ways to get BTS. Metaexchange and Blocktrades are the more used ones, check them out.

Title: Re: How can i get BTS
Post by: knircky on October 15, 2015, 10:44:55 am

Could it be that none of the gateways allow BTS at this time?

Title: Re: How can i get BTS
Post by: knircky on October 15, 2015, 10:57:15 am

It seems polinex is still trading, so i will try that i think

Title: Re: How can i get BTS
Post by: knircky on October 15, 2015, 11:15:40 am

it seems to work.

I transferred 78 BTS (yea i am rich) via polinex and the money arrived in my wallet

Title: Re: How can i get BTS
Post by: knircky on October 15, 2015, 11:47:55 am

Yes this worked.

I was able to buy bts sent to my wallet and i have been able to borrow some USD and put the BTS up as collateral.

Fantastic.

The collateral seem still awfully high. But at least it seems to work fine.

It would be nice to have a bit more description on how things work. I don't quite understand how everything works. Like what is the call price for example.

DEBT   COLLATERAL   CALL PRICE   UPDATE POSITION   CLOSE POSITION
1 USD   420.2 BTS   240.114285714 BTS/USD   UPDATE   CLOSE POSITION

So from the above i understand that i have borrowed 1 USD.

As such there is 1 USD in my account. At the same time there is a CFD contract with 420 BTS collateral.  The 1 USD is worth 220 BTS at the moment. The feed price is 210. I understand i can close the position and then i would get back my 420 collateral and would lose the 1 USD. right? Is there something else that would happen?

And what is the call price? 

Title: Re: How can i get BTS
Post by: Akado on October 21, 2015, 08:53:48 am

Bump. If someone could explain this  :)