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To those shouting "insider trading" I can safely state that I have not bought any BTS in a long time.
Also, "insider trading" is a bogus crime right up there with "money laundering". In effect, the insider trading laws simply "re-allocate" wealth from one group of people (who arguably deserve it because they traded based upon information) to another group of people (those with dumb luck to be long, because they traded without information).
In other words insider trading is a "emotionally charged" accusation designed to appeal to the "little guy" in order to justify government intrusion and arbitrary power to selectively enforce a bogus law.
In theory someone selling a house they have lived in for 20 years is engaging in "insider trading" because they know more than the buyer. This is just how markets work and insider trading helps the markets function better.
So I'm guessing all the front running has been done by this entity. Now at least we know why the price has rallied so hard.
lulz, so many post proclaiming one entity is responsible for the rise. don't marginalize muh (or anyone elses) bts purchases man.
pretty sure i, and many others, did a bit of lifting of our own over the past few weeks. personally, i've tripled up muh bitshares hodlings (thanks!).
I know everyone is excited about this and I agree that it is great news. The price action before this announcement is very fishy. Granted I'm happy for you guys who got in before the rise, but unless you were in the know it was all luck.
A big rally before a news announcement is going to draw unwanted and negative attention, especially if we dump in the next couple days. Its the definition of insider trading and if this kind of stuff continues we will have regulators (SEC, consumer protection, FBI) down are throats in no time.
Still it is a monumental day for bitshares
No, all or almost all the recent buying was just us in the community thinking the price was too cheap and had bottomed and would rally. The increase was based on having hit a bottom, then stabilized, then the moving averages and MACD turning positive.
This news has NOT been priced in yet. (Of course, buy the rumor sell the news....maybe whales will sell the news for a bit, who knows. But this news is VERY good and BTS should head much higher).
So I'm guessing all the front running has been done by this entity. Now at least we know why the price has rallied so hard.
lulz, so many post proclaiming one entity is responsible for the rise. don't marginalize muh (or anyone elses) bts purchases man.
pretty sure i, and many others, did a bit of lifting of our own over the past few weeks. personally, i've tripled up muh bitshares hodlings (thanks!).
Soon you will have an exchange that you can wire transfer USD to from anywhere in the world and then trade for BitUSD. Also supported BitCNY and BitEUR.
Details will be available in a few weeks, but we have a commitment and are actively testing integration and were given permission to make this post
You can simulate "current BitUSD" by having a 15-30 day delay on forced settlement. With such a massive delay on forced settlement it will rarely be used and all players would have 15 days notice. It would be very much like todays shorts which have 30 days notice until they are force settled at the price feed (assuming there are any takers).
Hey BM what is your synopsis of the current BitUSD trading?
It seems we currently have a float of $155k BitUSD: http://coinmarketcap.com/assets/bitusd/#charts
I hope the float will increase significantly somehow with a new design and that supply will increase/decrease gradually without any abrupt creation or destruction of BitUSD.
Right now I only use a webwallet and it seems simplified so I assume I can't short or use any other advanced features? There is a huge $77k buy-wall at the feed price (assume it's some kind of relative order?) I see transactions occasionally happen both at the feed and I just did a 1 BitUSD transaction at the market as a test. So I assume shorts have to cover in 30-days so there is some automatic flow at the feed and the rest of the trade happens at the market? Who is able to purchase at the feed price?
Anyways it would be great to get feedback to get some ideas from you and others as to what is going on in the current system and some theories of why it operates that way. Thanks.
You do realize that most of the benefits will be the same for any other pegged crypto? If they don't charge a premium then it is game over. for us.
So these hypothetical "other" pegged crypto's with no premium all depend upon a market maker willing to take a financial loss.
You are right, in fact, it is already game over for BitShares. You are trying to make a trustless "Stable-coin" when the rest of us here, who are against this proposal (due to the premium), would rather trust a group of people to provide liquidity for us (like how the highly liquid NuBits killed BitUSD the first time because the centralized team was trustworthy to provide liquidity and not steal your coins) so that the price does not fluctuate more than 1% either way.
The future is in centralized trusted third party liquidity providers like our Ethereum-BitUSD stable-coin that can be both bought and sold for $1.
So like Little Jay stated: It is already game over for BitShares because nothing beats centralized stable solutions. Behold Ethereum USD, the BitUSD killer:
https://www.youtube.com/watch?v=fVDSjR0N4ho#t=5m46s
"First it will be completely centralized, like me and three (anonymous for your protection) others will own all the shares in the market maker (liquidity provider business) in the beginning, and you can trust us to not run off with your money, and over time, we will eventually distribute the ownership shares all over the world. Just trust us
Sorry BitShares, nobody is interested in trustless platforms like yours and bitcoin's. Case in point: Ripple has only gained ground on bitcoin over the course of its short lifespan, and when Ethereum comes out with it's centralized Ether BitUSD, then you might as well pull the plug on your automatic computerized and trustless market maker solution.
Little Jay knows. Heed his warnings and concede your trustless imperfect market maker for a trusted and perfectly pegged honorable human market maker, or like he says, it's "game over" for you (because we will not charge you a premium)(ever)(trust us)(we will take good care of you and your family for you)
Hi,
I have opened in the past an account in the web wallet. When I tried to login yesterday, I only had the option to create or recover a wallet. I tried to recover the wallet with the brain wallet passphrase and i am not sure if i have done something wrong but the only account appearing is "guest"
When I type the password today and I put the same password I had before and the same from yesterday (maybe new created wallet) I again see only "guest"..
Anyway. Is there something I can do to recover my original wallet with the accounts I have created?
You could neutralize your bitUSD short by going long bitCNY... I know its not a pure play, but it will reduce the exposure you have to bts until your bitUSD short is covered by the system.I can neutralize by buying bitusd of my entire collateral ampunt but im not prepared to invest that much over 10k bitUSD more at this point
Only 50% of your collateral amount needs to be purchased and right now since BTS has about doubled since 30 days ago you can buy your bitUSD, cash out the short, and have a nice profit. I just did that with my Gold and Silver shorts. Mmm...tasty BTS.
