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Messages - townsend

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General Discussion / Re: bitShares Charts (technical analysis)
« on: December 27, 2016, 08:00:27 pm »
Considering that these charts are bitShares compared to bitCoin prices, as bitcoin value takes off, moving steadily higher, bitshares seems to be going down. But it's really not.

I need to find a bitShares/USD chart. That would give a more accurate picture. Anyone know where I might find such a chart?

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General Discussion / Re: Why is the price of bitShares so low?
« on: December 25, 2016, 08:14:23 pm »
Thank you guys!! For this very precise and informal education on these critical points.

Quote
There are other platforms where users can create tokens for a one-time fee and if bitshares requires "rent" then users will quickly migrate their business elsewhere. Bitshares is super efficient and we can let people use the blockchain for super cheap (and still profit).

SmartCoins are more unique and I think you'll like this: They reduce the supply of spendable bitshares.

There is 'rent' in a way.. you need to keep your fee pool filled with BTS no matter what asset you have. Any assets pairing with BTS are paying fees to the network as well.

To me, BTC (bitcoin) is a crazy bad investment right now, blockchain at capacity, slow and inefficient, terrible governance and toxic community

And... thanks for taking the time to explain all this to me.

Conclusion: With SO many other assets dependent on the bitShares blockchain, bitShares will certainly be around for a long LONG time. And... now being sold at the  bargain price of 230 per dollar, it's the IDEAL time to start accumulating bitShares.

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General Discussion / Re: Why is the price of bitShares so low?
« on: December 24, 2016, 05:00:13 pm »
Yes! I found the Chronos video, "Bitshares Inflation Rate VERY informative.

Quote from: KenMonkey
Peerplays has been good for BitShares. It's only tradable on our exchange rn and all BTS holders (back in October) will get some Peerplays as a nod to BitShares tech playing a central role. Pretty cool. So I get some 100 Peerplays. Can't say no to that.
Steem did us no such favors and some are bitter  *cough* liljay *cough*. Lol. Devs and even Dan are under no obligation. BitShares can stand on it's own.

I know I'm just a newbie here but, looking at this with fresh eyes, that's the problem right there! bitShares allows tokens which become coins in their own right, to be created for a one-time flat fee. What? Like $30. Then using the bitShares technology, they go on their merry way and reap all the profits. Tokens and assets based on bitShares need to pay rent, (fees). Every month, some of these new assets need to be returned to bitShares, where they can be sold and placed into the Reserve Pool. The more valuable the assets become, the more money flows back to Reserve Pool. Its' only fair. Then there would be plenty of income, for workers, witnesses and further development.... AND... suddenly bitShares would regain all it's lost respect.

PS: Of course, in such a scenario, the amount of such a monthly fee could not be based on the Available Tokens but rather would need to be based on the average Market Cap for the past month. (Ie: moving average.) Also... my apologies if I've been too presumptuous in posting such a suggestion, as I admit, my understanding of the existing architecture is very limited and this may not even be possible.

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General Discussion / bitShares Charts (technical analysis)
« on: December 24, 2016, 12:17:51 am »
This is a daily chart. Each bar represents one day of trading. As you can see bitShares has been a orderly down channel for about four months now. But for the last week or so, the price has been flat. Notice how the price is bumping up against the top of that downward slopped trend channel. A breakout through that top line would be a VERY good sign.

Here's a closer look. This is the same chart only each candle represents 2 hours of trading. There's that same gray trend channel. Only the top line is visible. And it looks like price has been trying to break through, but keeps coming back down into the channel. Now there's also support there, seen as the yellow line.  If price breaks down through that yellow line, then a new bottom may be likely.

Now this very interesting. Here's a 4 hour chart from Poloniex. This is just about 4 days of trading. Notice where I've placed the blue arrows. These candles all represent significant moves up. But then someone... seeing the price was moving up on good volume saw that as a good opportunity to sell a large stake, immediately pushing the price back down again. No way to know who this is, but the pattern is quite obvious.

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General Discussion / Re: Why is the price of bitShares so low?
« on: December 23, 2016, 10:07:17 pm »
Thanks everyone!! I appreciate the candid history lesson... and all your feedback. I'm sure this thread will be of interest to other Newbie's. I've been spending a LOT of time going through both old and new videos trying to get up to speed. I especially enjoyed the BitShares 101 series from BitShares TV.

1- On one hand I see bitShares at it's current price an amazing bargain with a top rate future. But I have one BIG concern. Being a "Poof of Stake" coin could someone point me to a video or white paper that describers the current mechanism for current and future coin creation. I mean... with 2.5 billion coins already in circulation, I don't think any more are needed.

2- THEN... I see all these other coins or tokens based on bitShares with a MUCH higher valuation. For instance I just heard that PeerPlays is based on bitShares, and it's current value has popped up to $41.60.  Somehow this does not seem fair. Shouldn't there be some kind of reciprocal value passed back to bitShares, instead of what I believe is a fix cost for the token creators.


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General Discussion / Why is the price of bitShares so low?
« on: December 22, 2016, 11:55:05 pm »
I've was VERY impressed with the recent Chronos Crypto videos on youTube. In fact, as a programmer, I'm blown away by all the intricate functionally and possibilities of bitShares. Far and above any other crypto I seen. Then there is all this existing technology already based on bitShares. Ie: OpenLedger. So... I start buying some bitShares. They're they're like 2300 per dollar.

I don't understand... why are bitShares so cheap? Yes, the Available Supply is 2 1/2 billion. What's going on there? And with all the adjunct platforms based on bitShares, why's the Market Cap and Daily Volume so low?

It seems like bitShares has already accomplished everything Ethereum plans on doing, all without getting bogged down with a procedural language. I must be missing something. Why isn't bitShares more popular?

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