BitShares Forum
Main => General Discussion => Topic started by: zonda on November 13, 2014, 08:03:37 am
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Am I missing something or are we completely pegged to the CNY price wise? I mean in the last couple of days of the BTC rally we are down 12% on bter btsx/btc pairing and up 10% on btc38 btsx/cny pairing.
This is cool for the Chinese since their investment is not moving, but what about the rest of the world that is looking at the BTC/btsx price? This is causing huge dumps on BTER the last couple of days. As the price of BTC is going up strongly, price of BTSX denominated in BTC is going down as crazy.
Does this mean that if Bitcoin goes up to 600$ in the next couple of days we will go down to 3000 satoshis or am I missing something?
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Bump!
I really want to hear other people's opinions on this.
Thanks
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more important is if our market cap grows...
If you really think BTC will go much better than BTS (at least for the next 2 weeks), it's time you make a little hedging by buying some bitBTCs ;)
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I don't understand your problem. If the dollar value of BTC goes up by a higher percentage than the dollar value of BTS then of course the number of satoshis per BTS will go down.
Do you keep an eye on this: http://coinmarketcap.com/
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I think, largely, the assets that move in tandem with Bitcoin are considered substitutes or standbys (if Bitcoin fails catastrophically, or fails to scale), whereas assets that move independently are competitors.
Right now the momentum is with BTC and speculators are probably shifting funds into it to ride the wave - one of the fastest ways to do that is from other crypto assets.