BitShares Forum

Main => General Discussion => Topic started by: Ander on December 17, 2014, 05:55:39 am

Title: BTS long term support
Post by: Ander on December 17, 2014, 05:55:39 am
We just bounced off long term support.
(http://s14.postimg.org/4180je8zl/bts3.png)

These are the times to buy, not when it is up 30% due to some pump. (Like the last time I posted a chart...sigh)


If anyone complains that 4 months isnt "long term", well...4 months is a long time in Crypto, and BTS has only been out a few months. :P
Title: Re: BTS long term support
Post by: lzr1900 on December 17, 2014, 06:01:52 am
BUY BUY BUY.
The picture you post is too small to display.
Title: Re: BTS long term support
Post by: cass on December 17, 2014, 08:36:20 am
 :P
Title: Re: BTS long term support
Post by: Ander on December 19, 2014, 07:04:40 am
It held again today with a second bounce up from the uptrend line. 

Hope it holds.
Title: Re: BTS long term support
Post by: Ander on December 21, 2014, 08:23:35 am
I bought a lot more BTS today.  Converted some more bitcoin and sold all other alts for BTS. 

It could go down, every crypto could go down in a big crash, or it could go up.  But whatever happens, I want to be all in on the coin with the best technology. :)
Title: Re: BTS long term support
Post by: Ander on December 22, 2014, 02:51:52 am
This price action is looking very bullish, imo.
Title: Re: BTS long term support
Post by: Ander on December 22, 2014, 09:48:11 pm
I think this is the first time I did a market buy of a bunch of BTS and didnt regret it a day or two later.  Woulve been left behind if I'd tried to get a limit order filled under the price!

Title: Re: BTS long term support
Post by: kisa on December 22, 2014, 09:50:41 pm
@Ander - please what do you think of BTC price action?
Title: Re: BTS long term support
Post by: Ander on December 22, 2014, 11:01:10 pm
@Ander - please what do you think of BTC price action?

50% chance of going down to 250-275, 50% chance of just going higher from here, imo.  Mostly I just follow chessnut's and Rynindaclem's posts on btc.  I think bitcoin has at least more more move up to new all time highs, so I dont think it will go below the mid 200s.  I think BTS will outperform it in 2015.  I still have some btc for diversity (its like Gold 2.0 imo), but I've got more BTS now.
Title: Re: BTS long term support
Post by: Ander on December 22, 2014, 11:06:59 pm
Here is the bounce off the support line.  I think we continue to go higher in the coming weeks and months.

1d MACD gave a buy signal again.
Even better, 3d MACD also gave a buy signal!

3 day MACD had given a sell signal on Sept 24, at around .200 CNY or so.  If one had sold that and rebought here it wouldve been an excellent trade.


(http://s18.postimg.org/i7z28pfbt/bts4.png)
Title: Re: BTS long term support
Post by: kisa on December 22, 2014, 11:24:29 pm
thanks so much for sharing your views!
Title: Re: BTS long term support
Post by: lil_jay890 on December 23, 2014, 12:27:23 am
Pretty good looking inverse head and shoulders... I have been looking for a bottom in crypto ever since we started getting divergences from different alts like ripple.  If we break the neckline at 0.15 I would say that the downtrend is over and we should start to move up if not consolidate.  If we get rejected off 0.15 and break through that support line we probably test support around 0.07 for another flush out of the longs.  This would be around a $25mil market cap.
Title: Re: BTS long term support
Post by: Ander on December 23, 2014, 04:56:17 am
Pretty good looking inverse head and shoulders...

Indeed.  Actually there are two possible inverse H&S that could form, one small and one large:

The small red inverse H&S forms if we go down a bit and then go up again and break above the recent .118 CNY high.  It could go down to the support line, but it doesnt need to go down that far.  (The drop to .105 was already enough, though we could go lower in the next couple days).

The large purple inverse head and shoulders has been forming for the past two months, and triggers on a break above .135.   Its a bit irregular, the right shoulder is too long, but I think it would still be meaningful.  The .135 CNY level is a big resistance level, if we break above it then we are solidly in bull mode and should go much higher.

(http://s22.postimg.org/fbpl4afld/bts4.png)


Important note: An inverse head and shoulders is meaningless until the neckline is broken.  Its only a potential setup so far.
Title: Re: BTS long term support
Post by: Ander on December 23, 2014, 05:00:14 am
To summarize: Break above the red line, go to the purple line.  Break above the purple line, go MUCH higher. :)
Title: Re: BTS long term support
Post by: jckj on December 23, 2014, 05:33:19 am
If bts has reached its right way and right time, it hase been up more than $1,now. It will go up with mumbers rising and right time right things .
Title: Re: BTS long term support
Post by: Ander on December 24, 2014, 09:55:34 am
Dear dumpers,

You are failing at your job!  If you hold it down for three more days, I can buy more at these prices. :P
Title: Re: BTS long term support
Post by: Ander on December 28, 2014, 06:51:40 am
So far so good, a low volume pullback is forming the right shoulder of the inverse H&S pattern.  I bought another 100k bts today, and will buy more if we drop a bit more. 

The order book on btc38 is as full as I've ever seen it, both on the buy and sell side.  Its is around 10 million BTS to go up to .120 CNY or down to .084 CNY!  Both are much higher than normal.  Multiple million+ hare buy walls and sell walls exist!  Very interesting.


Based on posts by a couple expert elliot wave chartists on bitcointalk, it looks like bitcoin is in an ending diagonal of the final decline of this bear market.  A decline to somewhere in the 250-300 range is expected, which would be the final low of the bear market, followed by the beginning of the new bull market.   If this occurrs, it would make sense that BTS could fall to .090 CNY or so, form the right shoulder of the pattern, and then rocket up. 

If we have a drop in the next week or two, I think it should be bought hard!  Of course, nothing says that BTS must go down along with bitcoin in this final drop.  After all, ripple has already begun a bull market move. 
Title: Re: BTS long term support
Post by: Ander on December 29, 2014, 01:02:12 am
Bought more.  It feels like we are about to head up again.  If we were going to drop to .090 CNY it shouldve happened already I think. 
Title: Re: BTS long term support
Post by: Gentso1 on December 29, 2014, 01:26:47 am
In the short term we will most likely follow the direction on btc, which is starting to look up.
I am pushing for a nice high of .112-.120cny dump and back down to the .090s rinse and repeat until 1.0 is launched.

Or straight to the moon, either would be fine by me.
Title: Re: BTS long term support
Post by: mdj on December 29, 2014, 08:34:23 pm
Want to buy some more but the joys of having to buy Bitcoin first in the UK plus exchange fees etc brings in a whopping 10% premium at the moment... Unless I want to wait days for money to hit an exchange and still pay about 5% premium :\
Title: Re: BTS long term support
Post by: Ander on December 30, 2014, 10:31:43 pm
Bitcoin going down has been hurting us.  Oh well.  The bear will eventually end.
Title: Re: BTS long term support
Post by: toast on December 30, 2014, 10:47:17 pm
Bitcoin going down has been hurting us.  Oh well.  The bear will eventually end.

But we're falling against BTC too...
Title: Re: BTS long term support
Post by: santaclause102 on December 30, 2014, 11:21:38 pm
Bitcoin going down has been hurting us.  Oh well.  The bear will eventually end.

But we're falling against BTC too...
Overall / On average we gained against btc http://coinmarketcap.com/currencies/bitshares-x/#charts
Title: Re: BTS long term support
Post by: mf-tzo on December 31, 2014, 07:48:38 am
I really don't like this price fall in BTS as you can imagine but what is  good so far is that in reality after 1 year I am still in my BE or at least close to it.. I bought PTS at a range $20-$25 dollars so effectively at a market cap of c$40 mil. Obviously I start buying again BTS when we got pumped to $70 mil range. My trading skills are just amazing, lol!! If I have kept my bitcoins back then then I would have lost more than half of my investment. If I had invested in other cryptos that got pumped I could maybe have make more profits etc. What is done is done.

But these levels that we are now should be the bottom ones. If we fall further any initial BTS investor who is still holding after 1 year will start making losses. So please put yourselves together, do not panic and hold your precious BTS. Great things will come for the patient ones.. :)
Title: Re: BTS long term support
Post by: lzr1900 on December 31, 2014, 08:41:02 am
The truth is:
People believed “good thing will come" was deeply trapped..
And the most frustrated thing for me is:
I have no more to buy more cheap BTS.:(.
Title: Re: BTS long term support
Post by: Ander on December 31, 2014, 08:47:45 am
I've been scrounging and saving as much as I can to buy the cheap BTS. :)

This latest drop over the past week has been weaker than the previous ones.  There are bulls waiting with buy orders on every drop, there are several million+ buy walls just under the price right now. 

Its a long and painful process of going from bear market to bull, but it is happening. 

We are getting media articles now, bitshares 101 book is out, bitmarket's videos are coming out, and someone just posted in the main forum that they wanted to develop a bitshares gateway and be an onramp for bitassets in europe.

Its happening.  Its slow at first, but it will build.  You can feel that things have turned if you look at everything that is going on.

Title: Re: BTS long term support
Post by: lzr1900 on December 31, 2014, 08:52:09 am
I've been scrounging and saving as much as I can to buy the cheap BTS. :)

This latest drop over the past week has been weaker than the previous ones.  There are bulls waiting with buy orders on every drop, there are several million+ buy walls just under the price right now. 

Its a long and painful process of going from bear market to bull, but it is happening. 

We are getting media articles now, bitshares 101 book is out, mbitmarket's videos are coming out, and somoene just posted in the main forum that they wanted to develop a bitshares gateway and be an onramp for bitassets in europe.

Its happening.  Its slow at first, but it will build.  You can feel that things have turned if you look at everything that is going on.
I like your attitude.. +5% +5%
Our dream will come true..
Bitshares RULE!
Title: Re: BTS long term support
Post by: Gentso1 on December 31, 2014, 02:33:33 pm
Just like btc has been of late I feel like we are going to have to fall in order to rebound.

TBH I am mostly fiat right now because I believe its going to take a dump  (btc/bts) before the market will allow it to go up.
Title: Re: BTS long term support
Post by: toast on December 31, 2014, 05:09:28 pm
Just like btc has been of late I feel like we are going to have to fall in order to rebound.

TBH I am mostly fiat right now because I believe its going to take a dump  (btc/bts) before the market will allow it to go up.

You mean bitFiat, right? ;)
Title: Re: BTS long term support
Post by: lil_jay890 on December 31, 2014, 05:24:35 pm
Personally I think that the market is being manipulated to screw the bitUSD shorts... Everytime there is a large amount of short bitUSD that needs to be covered, the price is pushed down on the exchanges.  The manipulators can then put their short orders in and expect them to be filled when all the previouse shorts have to cover.  Once they get their short bitUSD orders filled they stop selling and allow the price to rise and then cover after a week or so...  A super easy strategy if you have 10-20 mil bts, especially because you see when old shorts will have to cover.
Title: Re: BTS long term support
Post by: Gentso1 on December 31, 2014, 06:32:47 pm
Just like btc has been of late I feel like we are going to have to fall in order to rebound.

TBH I am mostly fiat right now because I believe its going to take a dump  (btc/bts) before the market will allow it to go up.

You mean bitFiat, right? ;)

lol I like the way you think.
Title: Re: BTS long term support
Post by: Ander on December 31, 2014, 06:53:53 pm
Just like btc has been of late I feel like we are going to have to fall in order to rebound.

I dont think this is required.  We are already seeing a pattern of higher lows, the trend has been sideways for 2 months now, now down.

(Of course, we could drop lower, its not like its impossible or anything, just not required). 

I think that all we need to stop going down at this point is for bitcoin to not tank hard.
Title: Re: BTS long term support
Post by: Ander on January 01, 2015, 12:46:28 am
Rise has started I think.  Should be .110 CNY in a day or two.  Then hopefully more. :)
Title: Re: BTS long term support
Post by: mf-tzo on January 12, 2015, 07:49:06 pm
So any trading ideas regarding Bitshares?
Do we expect any news that will drive the price up?
Is it time to buy more or are we heading to an endless bear market driven by bitcoin and we should just take our losses and wait until bitcoin's bear market finish and enter back?
Every day I think that BTS can't go lower than than and everyday the price is just disappointing. I am hesitant to sell my BTS now and cut my losses because every time I do this a bull market starts...On the other side BTS market cap keeps falling more than BTC and this is scary...
Title: Re: BTS long term support
Post by: bytemaster on January 12, 2015, 07:53:35 pm
So any trading ideas regarding Bitshares?
Do we expect any news that will drive the price up?
Is it time to buy more or are we heading to an endless bear market driven by bitcoin and we should just take our losses and wait until bitcoin's bear market finish and enter back?
Every day I think that BTS can't go lower than than and everyday the price is just disappointing. I am hesitant to sell my BTS now and cut my losses because every time I do this a bull market starts...On the other side BTS market cap keeps falling more than BTC and this is scary...

Since November 21st, we are up 25% against Bitcoin.    Compared to all other Bitcoin competitors (except Ripple and Paycoin)  we are up or holding flat. 
Title: Re: BTS long term support
Post by: lil_jay890 on January 12, 2015, 08:05:30 pm
So any trading ideas regarding Bitshares?
Do we expect any news that will drive the price up?
Is it time to buy more or are we heading to an endless bear market driven by bitcoin and we should just take our losses and wait until bitcoin's bear market finish and enter back?
Every day I think that BTS can't go lower than than and everyday the price is just disappointing. I am hesitant to sell my BTS now and cut my losses because every time I do this a bull market starts...On the other side BTS market cap keeps falling more than BTC and this is scary...

Your best bet is to continue to contribute in even amounts for the foreseeable future.  That way you can take advantage of price declines and smooth your investment cost basis.  You won't have to worry about missing an advance or buying opportunity since you are consistently averaging in.  No one knows what news will let us slip out of this bear market, but when it does happen the advance will be fierce and any pullbacks will be extremely shallow.  Markets are designed to confuse the most amount of people... it will unload as many bulls as a it possibly can, then switch and take off leaving all the bulls behind.  Long story short----HODL
Title: Re: BTS long term support
Post by: mf-tzo on January 12, 2015, 08:08:26 pm
Quote
Since November 21st, we are up 25% against Bitcoin.    Compared to all other Bitcoin competitors (except Ripple and Paycoin)  we are up or holding flat.

Indeed. So does that mean that if the bitcoin bear market continues BTS will fall as well or do we expect any news that will drive BTS price up regardless of what bitcoin does? It is very difficult for me to know the technical improvements and progress that might drive suddenly BTS price up, and I definitely don't want to lose the upside when this happens. In other words when are we planning to exceed the $100 mil market cap? I thought that we should have been there regardless of Bitcoin's volatility but apparently that's not the case.

So, I was wondering...Is it a good time to buy some more BTS now or should I wait until Bitcoin's market comes to an end?
Title: Re: BTS long term support
Post by: mf-tzo on January 12, 2015, 08:12:46 pm
Quote
Your best bet is to continue to contribute in even amounts for the foreseeable future.  That way you can take advantage of price declines and smooth your investment cost basis.  You won't have to worry about missing an advance or buying opportunity since you are consistently averaging in.  No one knows what news will let us slip out of this bear market, but when it does happen the advance will be fierce and any pullbacks will be extremely shallow.  Markets are designed to confuse the most amount of people... it will unload as many bulls as a it possibly can, then switch and take off leaving all the bulls behind.  Long story short----HODL

True and thanks for the advice. My problem is that I will need some cash within the next 2 months. So I don't know if I should:

1. Just hold for now
2. Get a loan and buy more BTS now?
3. Just sell now a portion and secure some cash that I will need

Usually I am all in and risk taker but now my financials are not so great...My Christmas bonus was in coupon restaurants this year...lol...
Title: Re: BTS long term support
Post by: lil_jay890 on January 12, 2015, 08:18:00 pm
Cut back on other expenses if you can and continue to contribute to bring down your cost basis.  Taking out a loan is risky.  You could be sitting on the beach a year from now thinking it was your best decision ever made or you could be cleaning fast food toilets cursing bts under you breath..... Are you feeling lucky?
Title: Re: BTS long term support
Post by: mf-tzo on January 12, 2015, 08:31:36 pm
Cut back on other expenses if you can and continue to contribute to bring down your cost basis.  Taking out a loan is risky.  You could be sitting on the beach a year from now thinking it was your best decision ever made or you could be cleaning fast food toilets cursing bts under you breath..... Are you feeling lucky?

Lol  :)...I am still very far for the beach dream and hopefully very far to be cleaning fast food toilets...

I am always feeling lucky since I discovered BTS.

I am very hesitant to take a loan unless we expect any huge announcements within the next couple of months.

All in all, do we expect any super news within the next couple of months?

 


 
Title: Re: BTS long term support
Post by: Akado on January 12, 2015, 08:32:56 pm
2. Get a loan and buy more BTS now?


I'm no financial expert but I wouldn't do that
Title: Re: BTS long term support
Post by: toast on January 12, 2015, 08:35:11 pm
Don't take out a loan to buy BTS! I would sell what you need in order to cover your costs for the next 3 months. Personal finance 101...
Title: Re: BTS long term support
Post by: mf-tzo on January 12, 2015, 08:43:07 pm
I can get a "loan" by shorting bitusd  and offer a ridiculously high interest rate. But are there any news that may support that or is it pure gambling?

Quote
Don't take out a loan to buy BTS! I would sell what you need in order to cover your costs for the next 3 months. Personal finance 101...

Unfortunately my BTS holdings are by far not sufficient to cover my next 3 months coming expenses but just a small portion of it and I am not sure if I should do that now and enter the market later on. I would hate myself if I sell everything now and lose any potential huge upside within the next 3 months. But do you guys believe that we will see some upside or are we going down now?

 
Title: Re: BTS long term support
Post by: toast on January 12, 2015, 08:48:02 pm
Nothing fundamental will change until at least the end of this month
Title: Re: BTS long term support
Post by: mf-tzo on January 12, 2015, 08:57:38 pm
Nothing fundamental will change until at least the end of this month

 :'( I didn't want to hear that but thank you very much!!

Irrelevant here but when do you guys think that we will have some banks gateways with bitassets IOU? Most probably the way things are going in Greece next month we won't be able to withdraw our money from the banks (this will definitely boost cryptos to the moon and everyone will turn to extremely bull in cryptos) but without bitusd, biteur gateways I cannot move all my deposits to Bitshares ecosystem... So either way I am most probably f....d.. 8)
Title: Re: BTS long term support
Post by: islandking on January 12, 2015, 09:07:58 pm
It took 3 years for Bitcoin to really start to gain traction. Those who HODL long term will be rewarded, don't worry about the price.

The fundamentals are still the same for why you should buy Bitshares. This drop is just short term noise because BTC is dropping.
Title: Re: BTS long term support
Post by: onceuponatime on January 12, 2015, 09:12:55 pm
I can get a "loan" by shorting bitusd  and offer a ridiculously high interest rate. But are there any news that may support that or is it pure gambling?

Quote
Don't take out a loan to buy BTS! I would sell what you need in order to cover your costs for the next 3 months. Personal finance 101...

Unfortunately my BTS holdings are by far not sufficient to cover my next 3 months coming expenses but just a small portion of it and I am not sure if I should do that now and enter the market later on. I would hate myself if I sell everything now and lose any potential huge upside within the next 3 months. But do you guys believe that we will see some upside or are we going down now?

 

You are seeking to lessen your discomfort of uncertainty by trying to get others to answer questions that are essentially unanswerable (ie. you are trying to offset the emotional burden of bearing risk - which is not possible except by purchasing insurance).

What are you going to do if you decide one way but then the market goes the other way? Will you then complain: "But fill in the name(s) said such and such"?
Title: Re: BTS long term support
Post by: islandking on January 12, 2015, 09:18:42 pm
I can get a "loan" by shorting bitusd  and offer a ridiculously high interest rate. But are there any news that may support that or is it pure gambling?

Quote
Don't take out a loan to buy BTS! I would sell what you need in order to cover your costs for the next 3 months. Personal finance 101...

Unfortunately my BTS holdings are by far not sufficient to cover my next 3 months coming expenses but just a small portion of it and I am not sure if I should do that now and enter the market later on. I would hate myself if I sell everything now and lose any potential huge upside within the next 3 months. But do you guys believe that we will see some upside or are we going down now?

 

You are seeking to lessen your discomfort of uncertainty by trying to get others to answer questions that are essentially unanswerable (ie. you are trying to offset the emotional burden of bearing risk - which is not possible except by purchasing insurance).

What are you going to do if you decide one way but then the market goes the other way? Will you then complain: "But fill in the name(s) said such and such"?

Exactly. We can only "guess" what *may *happen to the price. Nobody knows for sure. This is why short term trading is gambling unless you are a professional. It is much better to pick a long term investment and just hold for 2-3 years instead of day trading as a newbie.
Title: Re: BTS long term support
Post by: mf-tzo on January 12, 2015, 09:28:48 pm
Quote
You are seeking to lessen your discomfort of uncertainty by trying to get others to answer questions that are essentially unanswerable (ie. you are trying to offset the emotional burden of bearing risk - which is not possible except by purchasing insurance).

What are you going to do if you decide one way but then the market goes the other way? Will you then complain: "But fill in the name(s) said such and such"?

Your first paragraph is probably correct.
 
Your second paragraph is out of the question that I would ever do that and start filling names... Everyone is entitled for their opinions and everything expressed here are only opinions. I am asking opinions and advice from more advanced traders than myself, from developers that may have a lot of developments in the pipeline that I am not aware of and generally opinions from the community to see if we are in a bearish or bullish mood. I have never pointed any finger to anyone for his opinion in my life and I do not intend to start pointing fingers now irrespective of any opinion..




Title: Re: BTS long term support
Post by: lil_jay890 on January 13, 2015, 04:13:06 am
Pretty good looking inverse head and shoulders... I have been looking for a bottom in crypto ever since we started getting divergences from different alts like ripple.  If we break the neckline at 0.15 I would say that the downtrend is over and we should start to move up if not consolidate.  If we get rejected off 0.15 and break through that support line we probably test support around 0.07 for another flush out of the longs.  This would be around a $25mil market cap.

Here's the flush I thought we would get if we were unable to break 0.15cny...  starting to get bloody out there
Title: Re: BTS long term support
Post by: nomoreheroes7 on January 13, 2015, 04:24:43 am
Pretty good looking inverse head and shoulders... I have been looking for a bottom in crypto ever since we started getting divergences from different alts like ripple.  If we break the neckline at 0.15 I would say that the downtrend is over and we should start to move up if not consolidate.  If we get rejected off 0.15 and break through that support line we probably test support around 0.07 for another flush out of the longs.  This would be around a $25mil market cap.

Here's the flush I thought we would get if we were unable to break 0.15cny...  starting to get bloody out there

...let's hope support at 0.07 holds I guess (already broken through)...at this rate we'll be back to pre-pump price pretty dang quick.

Madness. I can't tell if it's just because bitcoin's tanking, or if BTS truly is losing steam.
Title: Re: BTS long term support
Post by: lzr1900 on January 13, 2015, 04:31:36 am
山顶很冷
Title: Re: BTS long term support
Post by: islandking on January 13, 2015, 05:15:09 am
Wow we are approaching $0.01 now....
Title: Re: BTS long term support
Post by: liondani on January 13, 2015, 07:53:34 am
when there is blood on the streets...  buy ( @stan) ... but how much blood?  I thought we where bleeding at $50 million  market cap :P  ... even if this downtrend continues I am confident the market cap will reach $40 million for a while again...

Sent from my ALCATEL ONE TOUCH 997D

Title: Re: BTS long term support
Post by: liondani on January 13, 2015, 02:13:16 pm
So any trading ideas regarding Bitshares?
Do we expect any news that will drive the price up?
Is it time to buy more or are we heading to an endless bear market driven by bitcoin and we should just take our losses and wait until bitcoin's bear market finish and enter back?
Every day I think that BTS can't go lower than than and everyday the price is just disappointing. I am hesitant to sell my BTS now and cut my losses because every time I do this a bull market starts...On the other side BTS market cap keeps falling more than BTC and this is scary...

Maybe the answer to my email from Shapeshift.io before 3 days will make us all be more confident ! (or at least less depressed  ;))
I personally thing it will help a lot!....

Hello Daniel,

It is in the pipeline... very likely by Jan 20th.

Thanks,
Beorn

::ShapeShift.io

On 01/10/2015 08:19 AM, liondani wrote:
> I just want to know when shapeshift will support bitshares BTS + their
> bitAssets like bitUSD, bitBTC, bitGOLD etc.   ?
>
>
> Thanks,
>
> Daniel




Title: Re: BTS long term support
Post by: Ander on January 13, 2015, 05:25:39 pm
when there is blood on the streets...  buy ( @stan) ... but how much blood?  I thought we where bleeding at $50 million  market cap :P  ... even if this downtrend continues I am confident the market cap will reach $40 million for a while again...

Yeah, the problem is that people always bring out the blood in the streets quote like 3 different times before the actual bottom.

Bitcoin tanked much harder than I expected it would. 

As long as you arent on margin you can afford to simply hold and buy more even though its really painful right now.  Average down your cost and then you eventually make money if it returns to where you bought it initially. 


Crypto bear market moves are surprisingly brutal. ;)
Title: Re: BTS long term support
Post by: oldman on January 13, 2015, 08:28:29 pm
when there is blood on the streets...  buy ( @stan) ... but how much blood?  I thought we where bleeding at $50 million  market cap :P  ... even if this downtrend continues I am confident the market cap will reach $40 million for a while again...

Yeah, the problem is that people always bring out the blood in the streets quote like 3 different times before the actual bottom.

Bitcoin tanked much harder than I expected it would. 

As long as you arent on margin you can afford to simply hold and buy more even though its really painful right now.  Average down your cost and then you eventually make money if it returns to where you bought it initially. 


Crypto bear market moves are surprisingly brutal. ;)

I'm a bit taken aback as well - not sure who is doing the selling, but damn, they are on a mission.

I maintain my tin foil position: market is being driven by big money accumulating for a pump.

Big money buys X coins from miners off-market and continuously sells X-N coins on-market, enough to keep the bear market going.

As soon as the ETF's are approved (probably right around the depth of the despair stage) the lid is going to come off. Most epic short squeeze/pump in history.

Folks are sitting at the top of the SP500 staring into the abyss - but are too greedy to take profits and go to cash.

As soon as they see another train leaving the station, the hop from VOO/IVV/SPDR to COIN is pretty easy for some hot, speculative house money.

I think BTS is going to get a helluva pump when non-ETF BTC value takes profits and looks to diversify.
Title: Re: BTS long term support
Post by: Ander on January 14, 2015, 06:37:41 pm
Okay, now THAT counts as blood in the streets, imo.  Though it could get much more bloody in the coming days, if these levels do not hold.

I am surprised by this drop in BTC.  Clearly the BTS price is merely following.  Actually its gone from ~4800 to 5200 satoshis during this drop, its doing a tiny bit better, if that is any consolation. 
Title: Re: BTS long term support
Post by: mf-tzo on January 14, 2015, 08:34:37 pm
I think that if there is an opportunity to distinguish ourselves from other alts is NOW! We have done it once, let's do it again so people remember us. I measure everything in $ terms rather BTC terms.

If we go down to NXT market cap levels we will always be stigmatized as everything else out there and nothing special. If BTS gets pumped now when everything else is falling people will see us differently.
No matter what happens to XRP now, people will always see XRP differently after what it has done the last couple of months...
Now is our chance to take over LTC. So please stop selling and everyone put your self together, stay cool and buy the shit out of every BTS you can. 8)
Title: Re: BTS long term support
Post by: sumantso on January 14, 2015, 11:20:14 pm
Relax, it will happen on its own time. Hoping that it will move one way ignoring the fundamentals is going to leave you with losses.

Our time will come soon, don't worry.
Title: Re: BTS long term support
Post by: Akado on January 14, 2015, 11:26:18 pm
Relax, it will happen on its own time. Hoping that it will move one way ignoring the fundamentals is going to leave you with losses.

Our time will come soon, don't worry.

I agree with this. If you truly believe in this project, then short term value doesn't matter. It's just a matter of time. From all we know, we are still all "early adopters" as probably 99% of the world doesn't know about cryptos. So think on the long term.
Title: Re: BTS long term support
Post by: islandking on January 16, 2015, 01:07:27 am
Bitcoin had a nice rise today. Seems like it could go lower though as there is a lot of uncertainty right now. If it breaks below $200 we could see another dump.

I am not a trader, just my opinion.
Title: Re: BTS long term support
Post by: toast on January 16, 2015, 02:30:13 am
Bitcoin had a nice rise today. Seems like it could go lower though as there is a lot of uncertainty right now. If it breaks below $200 we could see another dump.

I am not a trader, just my opinion.

as if being a trader would have made your claim more credible, ha ha
Title: Re: BTS long term support
Post by: merlin0113 on January 16, 2015, 02:42:44 am
Bitcoin had a nice rise today. Seems like it could go lower though as there is a lot of uncertainty right now. If it breaks below $200 we could see another dump.

I am not a trader, just my opinion.

as if being a trader would have made your claim more credible, ha ha

As being a trader, I should remind you that chinese community has several major following good news about BTS soon. LOL
Title: Re: BTS long term support
Post by: Akado on January 16, 2015, 07:31:21 pm
Bitcoin had a nice rise today. Seems like it could go lower though as there is a lot of uncertainty right now. If it breaks below $200 we could see another dump.

I am not a trader, just my opinion.

as if being a trader would have made your claim more credible, ha ha

As being a trader, I should remind you that chinese community has several major following good news about BTS soon. LOL

Don't go Adam Guerbuez on us  :'(
Title: Re: BTS long term support
Post by: gamey on January 20, 2015, 06:49:58 am

Usually with financial decisions like this there is a solution that is basically a mix of whatever 2 extremes you are considering.  You should consider doing whatever that is. 
Title: Re: BTS long term support
Post by: Ander on January 21, 2015, 01:54:06 am
We just broke .072.  I think we are hitting .090 CNY within a week.  Thats up almost 30% from here. 

Feel free to use me as a contrarian indicator because I just went super bullish again, and dump now. :P
Title: Re: BTS long term support
Post by: merlin0113 on January 21, 2015, 02:01:16 am
We just broke .072.  I think we are hitting .090 CNY within a week.  Thats up almost 30% from here. 

Feel free to use me as a contrarian indicator because I just went super bullish again, and dump now. :P

The 0.5.1 version together with Coinbase news is the main reason behind today's move up. I think we could break 0.1 within a week because wallet 1.0 is almost there, even better if at the same time BTC rockets higher.
Title: Re: BTS long term support
Post by: Ander on January 21, 2015, 02:03:44 am
Why would coinbase news send us up specifically, while bitcoin is flat?  I would think it would drive bitcoin up (which would drive up every alt).  But bitcoin is flat and we are up.
Title: Re: BTS long term support
Post by: merlin0113 on January 21, 2015, 02:12:53 am
Why would coinbase news send us up specifically, while bitcoin is flat?  I would think it would drive bitcoin up (which would drive up every alt).  But bitcoin is flat and we are up.

Just prior to the announcement of coinbase news, BTC'r price was droping 10 dollars and very likely to sink fast. The news is a reverse changer. Let's see if BTC will rise more.
Title: Re: BTS long term support
Post by: Ander on January 21, 2015, 02:23:26 am
BTC has been getting closer and closer to breaking that ~1350 CNY resistance for days now.  I think its going to break higher soon, and then BTC goes to 1600 CNY in a hurry.  And everything goes up with it.
Title: Re: BTS long term support
Post by: robrigo on January 21, 2015, 06:56:21 am
Just passed PayCoin again. Back in the 4th spot!
Title: Re: BTS long term support
Post by: lovejoy on January 21, 2015, 07:04:16 am
Just passed PayCoin again. Back in the 4th spot!

Ohhh that just made my night... Look at us go!   8)
Title: Re: BTS long term support
Post by: mf-tzo on January 26, 2015, 11:39:10 pm
I think that we need another nice pump with a respective volume now to get some attention or else people will just continue to sell their BTS until all confidence is gone. It will be a same to become one of those alts that nobody cares anymore, so please hold and keep buying people...
Title: Re: BTS long term support
Post by: Ander on January 30, 2015, 06:59:58 pm
I think we had a lot of dumps the past few days due to PTS and DNS redemptions, especially during the BTC panic rally.

The action on btc38 and bter has started to look bullish again in the past two days, relative to BTC.  Many large buy walls are stacked close below current prices, while there is very little on the ask side of the orderbooks for the next 10-20% up.  On bter the price has risen and orders have come in heavily under the price as it rises.  On btc38 the current level has held for the past two days while btc has continued lower.

Of course, as always we are heavily influenced by what happens to BTC.
Title: Re: BTS long term support
Post by: Tuck Fheman on January 30, 2015, 07:25:34 pm
I just sold my kids Dogecoin for BitShares. They'll thank me later.
Title: Re: BTS long term support
Post by: Ander on January 30, 2015, 08:10:29 pm
I just sold my kids Dogecoin for BitShares. They'll thank me later.

Hehe! :D
Title: Re: BTS long term support
Post by: merlin0113 on February 12, 2015, 02:42:23 am
why no one is buying? why so many ppl selling? any inside bad news???

来自我的 M040 上的 Tapatalk

Title: Re: BTS long term support
Post by: Troglodactyl on February 12, 2015, 02:51:35 am
why no one is buying? why so many ppl selling? any inside bad news???

来自我的 M040 上的 Tapatalk

I don't know of any bad news.  Seems like bad news would be a faster drop, also.  Looks more like gradual depression from lack of sufficient short term good news.
Title: Re: BTS long term support
Post by: merlin0113 on February 12, 2015, 03:07:39 am
why no one is buying? why so many ppl selling? any inside bad news???

来自我的 M040 上的 Tapatalk

I don't know of any bad news.  Seems like bad news would be a faster drop, also.  Looks more like gradual depression from lack of sufficient short term good news.

Devs should discuss more about price, not only discuss it when bts rise, but also falls. Or ppl will panic in the process, especially for those chinese in the dark.

来自我的 M040 上的 Tapatalk

Title: Re: BTS long term support
Post by: jsidhu on February 12, 2015, 05:46:19 am
Im hodling every coin i earn
Title: Re: BTS long term support
Post by: Ander on February 12, 2015, 07:55:03 am
Quote

Devs should discuss more about price, not only discuss it when bts rise, but also falls. Or ppl will panic in the process, especially for those chinese in the dark.

来自我的 M040 上的 Tapatalk
The last time one of the devs talked about price, it was when Bytemaster said "we are up 10% against BTC!" right at the exact top before it started dropping again. :P
Title: Re: BTS long term support
Post by: Ander on February 12, 2015, 07:57:39 am
why no one is buying? why so many ppl selling? any inside bad news???

来自我的 M040 上的 Tapatalk

I don't know of any bad news.  Seems like bad news would be a faster drop, also.  Looks more like gradual depression from lack of sufficient short term good news.

Yeah this is just a low volume bleed out due to no news, no lite wallet release, etc.  And people who now hate BTS getting vesting PTS/DNS shares and being able to dump them. 
Title: Re: BTS long term support
Post by: lzr1900 on February 12, 2015, 08:24:23 am
Chinese New Year is coming,ppl need to cash out .
(The biggest BTS market is BTC38,and most of the traders is Chinese.)
We should listed on more exchange without Chinese effect like Cryptsy,Bitfinex
Title: Re: BTS long term support
Post by: inarizushi on February 12, 2015, 08:56:09 am
Sigh. How are shapeshift integration, metaexchange, cryptoedge, the much better 0.6.1 wallet, not short term good news ?
Title: Re: BTS long term support
Post by: Ander on February 12, 2015, 09:00:04 am
Sigh. How are shapeshift integration, metaexchange, cryptoedge, the much better 0.6.1 wallet, not short term good news ?

The market apparently didnt care about any of those things yet. :(
Title: Re: BTS long term support
Post by: graffenwalder on February 12, 2015, 10:20:32 am
Sigh. How are shapeshift integration, metaexchange, cryptoedge, the much better 0.6.1 wallet, not short term good news ?

The market apparently didnt care about any of those things yet. :(
Maybe it's time for a little reality check.
Gateways and UIA like crypto hedge, are basic functions for a 2.0 crypto, so they shouldn't move the price to much.

I also have some doubts about the bitusd multi pool. Normal multipools use their BTC earned from mining coins to buy up the POS coin it supports, effectively creating buying power.
Now we are buying up bitusd wich shouldn't move the price (BTS) to much. Unless the miners will hold them and creating more demand for bitusd and thus creating more bitusd,
But miners have proven the be the least loyal, and they have bills to pay.
So they would probably sell their bitusd again.
Currently BM is paying a bonus of  +5% out of his own pocket. (Thanks)
But I wonder if the multipool was to achieve a total payout of 1 million bitusd (at a cost of 50.000 bitusd),if it would have a serious effect on BTS.

Wallet improvements are also pretty basic and shouldn't move the price to much.
However, the 1.0 version will allow for some killer third party apps, like crowdfunding platforms that use the bit fiats and UIA to build there own trading platforms using our blockchain.

So untill the time that we have a 1.0 wallet with some killer third party apps. The only hope we have for short term gains. Would probably be BTC rising.
Title: Re: BTS long term support
Post by: liondani on February 12, 2015, 11:00:03 am


Sigh. How are shapeshift integration, metaexchange, cryptoedge, the much better 0.6.1 wallet, not short term good news ?

The market apparently didnt care about any of those things yet. :(

they care, but they don't know that their exist...  we need more marketing guys!

Sent from my ALCATEL ONE TOUCH 997D

Title: Re: BTS long term support
Post by: roselee on February 12, 2015, 04:23:43 pm
IMHO i think the drop is just a normal thing to do for such a new inovation like bts
i think to remember that its called something like a valley of frustration after a hype
bts has such a huge comunity thats for me a indicator which of the coins will succed
for me its BTS, BTC and ethereum
Title: Re: BTS long term support
Post by: sumantso on February 12, 2015, 05:24:01 pm
Going down and down and down ...

Normally it wouldn't have mattered, but for the BTS model its crucial that price improves. Else developers would need more and more dilution to pay the bills sending BTS one way. I somewhat feel we might have passed the tipping point, but hopefully I am wrong.
Title: Re: BTS long term support
Post by: mf-tzo on February 12, 2015, 06:15:00 pm
The problem is that BTS had a huge pump at some point, it lasted for a week, dropped by 40% or something very fast and then it is just slowly dying despite the amazing things that happened in the meantime...

I am a very long supporter of BTS but now by holding BTS I just lose and lose money all the time. I just hope we get another serious pump soon and stabilize at higher market caps or else imho everyone is slowly going to leave for something else and BTS will never become what it is supposed to become.

I would think that people should be crazy not to buy like crazy at these levels.I never expected BTS to be at these levels..But then again at this point maybe  BTS will go to $5 - $10 mil market cap and people will be very happy here because there might be + 1-2 mil bitusds..
Title: Re: BTS long term support
Post by: inarizushi on February 12, 2015, 06:28:06 pm
At this price it is possible to find new big investors, isn't it ? If it was possible to convince some big money with just promises and a whitepaper/proof of concept, isn't it possible to convince new big investors with all the amazing stuff already out there and the much more amazing features coming ?
Title: Re: BTS long term support
Post by: mf-tzo on February 12, 2015, 06:38:48 pm
At this point we risk to lose all the existing investors..Big investors will never invest to something so small that keeps falling despite all the amazing things that could happen in BTS but might consider to invest big money if we stabilize at much higher levels and volumes..So please stop dumping..We have fallen very very much already...
Title: Re: BTS long term support
Post by: lil_jay890 on February 12, 2015, 06:54:56 pm
The price drop is a blessing... I'm getting my tax refund back in a few weeks plus a bonus from work.  All is going straight into bts.  Hopefully my 4k creates a bottom ;)
Title: Re: BTS long term support
Post by: bytemaster on February 12, 2015, 07:13:02 pm
There is a lot of sell pressure to pay taxes.  That should end soon. 
Title: Re: BTS long term support
Post by: Ander on February 12, 2015, 08:04:10 pm
At this point we risk to lose all the existing investors.

We only lose the idiots that buy high and sell low, of which we have lost most of them already I think. 
I think the problem is lingering dumping from people pissed off by the november changes, who got a fresh round of BTS to dump when vesting balances unlocked. 

We have a bearwhale in BTS, some big holder who hated the changes and has been selling ever since.  We just need them to run out.

At this point they are getting really low prices for their BTS anyway.


Quote
.Big investors will never invest to something so small that keeps falling despite all the amazing things that could happen in BTS but might consider to invest big money if we stabilize at much higher levels and volumes..So please stop dumping..We have fallen very very much already...

Actually investing in small things that have fallen is exactly what the smart money does.  That is the way you make make money, not by buying pumps like BTS in late august, or what happened in darkcoin yesterday. The big player gets their lowball buys filled at very cheap prices and then after he has gotten a lot and the sell pressure has dissipated, he drives it up, and then profits off the momentum traders who buy his pump.
Title: Re: BTS long term support
Post by: oldman on February 12, 2015, 10:11:15 pm
Hodling.
Title: Re: BTS long term support
Post by: lzr1900 on February 12, 2015, 10:22:44 pm
There is a lot of sell pressure to pay taxes.  That should end soon.
So,it was the dev team have to dump at this low price?
sadly.
Title: Re: BTS long term support
Post by: Ander on February 12, 2015, 11:00:58 pm
There is a lot of sell pressure to pay taxes.  That should end soon.
So,it was the dev team have to dump at this low price?
sadly.

I remember one time I commented "who is the idiot who would dump at these low prices with everything thats going on at NullStreet", and then bytemaster replied that sometimes people have to sell.  Made me think it was him. :P
Title: Re: BTS long term support
Post by: Ander on February 12, 2015, 11:02:20 pm
Protip to devs:  If you need to sell for tax reasons, maybe release light wallet and 1.0, then sell the pump. ;) 
Selling first before generating the positive news is really shortchanging yourselves.
Title: Re: BTS long term support
Post by: Ander on February 12, 2015, 11:15:11 pm
Well, I have another 100kish super cheap BTS now.  Someone dumped it crazy low on bter, its like a 10% off sale.

If you are a long termer who already has lots of bts and are looking to add more, put your orders like 5% under the current price.

If they never get hit: okay thats fine, you already had a lot right?

If they do get hit however you provide defense against the super dumps, you get extra BTS.  Think of it this way: some idiot bear gave you some of their BTS for free.  Just be patient and wait for the dumpers. 
Title: Re: BTS long term support
Post by: liondani on February 12, 2015, 11:19:53 pm
Protip to devs:  If you need to sell for tax reasons, maybe release light wallet and 1.0, then sell the pump. ;) 
Selling first before generating the positive news is really shortchanging yourselves.

they must pay taxes this year
Title: Re: BTS long term support
Post by: roselee on February 12, 2015, 11:49:47 pm
There is a lot of sell pressure to pay taxes.  That should end soon.
So,it was the dev team have to dump at this low price?
sadly.
i dont think thats what he said
Title: Re: BTS long term support
Post by: zerosum on February 12, 2015, 11:59:23 pm
There is a lot of sell pressure to pay taxes.  That should end soon.
So,it was the dev team have to dump at this low price?
sadly.
i dont think thats what he said
True, he did not. But how many businesses can you think of that hold all their money in BTS?
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 12:15:24 am
One thing should be clear regardless:

There has been the sustained selling pressure of some what for quite a while now (I think specifically someone big started selling in the Jan 20-25 range.  This bitshares whale has been slowly selling off a couple million a day since then. 

We found what couldve been a bottom at around .063 CNY at the beginning of the month.   The price held steady at that level for days, and there kept being million share dumps periodically in the 65 to 63 range.  And the Buywall kept being refilled each time - for a while. 

Whoever was supporting that area ran out on Feb 6 and the whale just kept selling even though BTC wasnt dropping, which has since been causing the BTS/BTC ratio to crash.


The positive things we have been doing just havent been enough to stem the tide of this big seller, who simply does not seem to care that the price he is getting is now very low.  There is no reason for the bulls to try and drive it up as long as this guy is still determined to sell BTS, it makes much more sense for them to just but up low bids and let him desperation-sell into them, because the seller seems very desperate. 

Eventually this bear will either run out of BTS, or run out of desire to sell / need to sell, and the dumps will decrease, and the bulls who right now are getting their orders filled by placing lowball bids will stop getting filled and will have to start bidding the price up if they want more. 

This has gone on longer than I expected.  I just got a STUPIDLY low order filled on bter that I absolutely did NOT expect to get filled, EVER.  (I think that one was a panic dumper, not the bear whale - who is on btc38). 

These are good times to keep dollar cost averaging into BTS.  Just put up lowball bids and leave them there.  If they get filled, you get super cheap BTS, if not, you get to be relieved that BTS stopped dropping and can go up again.
Title: Re: BTS long term support
Post by: arhag on February 13, 2015, 12:53:12 am
There has been the sustained selling pressure of some what for quite a while now (I think specifically someone big started selling in the Jan 20-25 range.  This bitshares whale has been slowly selling off a couple million a day since then. 

What are you seeing in the order books that makes you feel confident it is a whale who is desperate to get out (versus say 100% paid delegates cashing out to cover necessary expenses)? I certainly like the narrative of the whales since it means that eventually (hopefully soon) they will run out of BTS, but I'm not sure why we can be confident that is the case.

The positive things we have been doing just havent been enough to stem the tide of this big seller, who simply does not seem to care that the price he is getting is now very low.  There is no reason for the bulls to try and drive it up as long as this guy is still determined to sell BTS, it makes much more sense for them to just but up low bids and let him desperation-sell into them, because the seller seems very desperate. 

I wish it was possible to do some kind of exit interview with this (these) whale(s) after they finished selling their BTS. I would love to know which changes caused them to go from being such large supporters to totally giving up on BitShares. Not to say I would change my mind on the decisions that were made (like implementing dilution pay for delegates, or focusing on one superDAC), I just would gain satisfaction knowing they divested because of reasons that I consider to be clear positives for the future of BitShares.
Title: Re: BTS long term support
Post by: jsidhu on February 13, 2015, 01:52:23 am
Ander stop watching price so closely i used to make similar assumptions.. in the end it coukd be a combination of ppl selling and others buying arbing or getting in other investments.. its probably not a single whale.
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 02:48:47 am
Ander stop watching price so closely i used to make similar assumptions.. in the end it coukd be a combination of ppl selling and others buying arbing or getting in other investments.. its probably not a single whale.

It would be funny if it was I3. ;)
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 02:50:38 am
And of course, that was all just speculation, its to like I know for a fact that its true or anything, just my guess.
Title: Re: BTS long term support
Post by: jsidhu on February 13, 2015, 03:45:02 am
Ander stop watching price so closely i used to make similar assumptions.. in the end it coukd be a combination of ppl selling and others buying arbing or getting in other investments.. its probably not a single whale.

It would be funny if it was I3. ;)
Ofcourse we all have those thoughts but csnt do anything... If u were in that position what would you do? Its good they sell now it distriubutes better.. Better now than at higher price
Title: Re: BTS long term support
Post by: cube on February 13, 2015, 04:49:18 am
Ander stop watching price so closely i used to make similar assumptions.. in the end it coukd be a combination of ppl selling and others buying arbing or getting in other investments.. its probably not a single whale.

It would be funny if it was I3. ;)

I would be comfortable if it was I3 and not some big whales giving up hope.  It is not easy to capture a big whale, you know.  You need a big boat, big equipment/machines, lots of manpower especially skilful sailors and a good bit of luck. 

However, if it was I3, it would be natural since they are expected to spend as the software development progresses.
Title: Re: BTS long term support
Post by: roadscape on February 13, 2015, 04:58:20 am
I would be comfortable if it was I3 and not some big whales giving up hope.  It is not easy to capture a big whale, you know.  You need a big boat, big equipment/machines, lots of manpower especially skilful sailors and a good bit of luck. 

However, if it was I3, it would be natural since they are expected to spend as the software development progresses.

 +5%
Title: Re: BTS long term support
Post by: bytemaster on February 13, 2015, 01:35:02 pm
The team as a whole owes $100,000 in taxes and has had to sell 10m bts recently.

A small whale right there. 
Title: Re: BTS long term support
Post by: BTSdac on February 13, 2015, 02:37:20 pm
The team as a whole owes $100,000 in taxes and has had to sell 10m bts recently.

A small whale right there.
I am shocked
Title: Re: BTS long term support
Post by: blahblah7up on February 13, 2015, 02:46:50 pm
The team as a whole owes $100,000 in taxes and has had to sell 10m bts recently.

A small whale right there.

Thanks for sharing that.
Title: Re: BTS long term support
Post by: cusknee on February 13, 2015, 03:26:46 pm
The team as a whole owes $100,000 in taxes and has had to sell 10m bts recently.

A small whale right there.

Bad for you but good to know "whale wise". So many positive things have been done in the past five months as explained in the news letter and the latest episode of Bitshares.tv. Onward and upward.
Title: Re: BTS long term support
Post by: lzr1900 on February 13, 2015, 03:31:09 pm
The team as a whole owes $100,000 in taxes and has had to sell 10m bts recently.

A small whale right there.
oh,you pull the trigger..
Title: Re: BTS long term support
Post by: oldman on February 13, 2015, 03:53:24 pm
The team as a whole owes $100,000 in taxes and has had to sell 10m bts recently.

A small whale right there.

And there's the sell pressure.
Title: Re: BTS long term support
Post by: nomoreheroes7 on February 13, 2015, 04:07:36 pm
The team as a whole owes $100,000 in taxes and has had to sell 10m bts recently.

A small whale right there.

So I have you to thank for that cheap BTS? Thanks BM! I knew you loved me.  :-*

Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 06:08:52 pm
The team as a whole owes $100,000 in taxes and has had to sell 10m bts recently.

A small whale right there.

Good to know, thanks.

If recently means 'the past three weeks', then I believe this mostly explains the drop from ~5500 to 4000 satoshis during a low volume pullback.  Some of the unlocked balances being sold, and the general drop in bitcoin would explain the rest of the decline.

If recently means the past 2-3 months, then it only explains part of it and there need to be a couple more bearish whales.


One positive from this in terms of decentralization is that the top holders of BTS now have ~10M less, or .4% of all supply. 
Title: Re: BTS long term support
Post by: bytemaster on February 13, 2015, 06:10:37 pm
Devs are not top holders. 
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 06:14:06 pm
Honestly I think this is hilarious.  I've literally been watching Bytemaster sell over the past several weeks, wondering when "this whale" would run out. 

If the tax selling is done, thats very good for BTS, as it should stabilize back up to 5000 sat. 
Title: Re: BTS long term support
Post by: nomoreheroes7 on February 13, 2015, 06:25:49 pm
Devs are not top holders. 

So where were the BTS being sold? There were quite a few million+ drops on BTC38 over the past week, but can the devs convert from CNY -- USD? If the sales were for BTC, there were still a lot of other dumpers in the BTS/CNY market...

And how are the devs not top holders? I thought you alone had like 90 million or something like that.

There has been the sustained selling pressure of some what for quite a while now (I think specifically someone big started selling in the Jan 20-25 range.  This bitshares whale has been slowly selling off a couple million a day since then. 

...

The positive things we have been doing just havent been enough to stem the tide of this big seller, who simply does not seem to care that the price he is getting is now very low.  There is no reason for the bulls to try and drive it up as long as this guy is still determined to sell BTS, it makes much more sense for them to just but up low bids and let him desperation-sell into them, because the seller seems very desperate. 

Eventually this bear will either run out of BTS, or run out of desire to sell / need to sell, and the dumps will decrease, and the bulls who right now are getting their orders filled by placing lowball bids will stop getting filled and will have to start bidding the price up if they want more.

lol this is hilarious to read in the context that BM was the bearwhale all along.
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 06:32:08 pm
Unless you count btc38, yunbi, and bter as "holders" because they hold people's BTS for them, then devs collectively are definitely one of, if not the top whales.  Personally I am not counting the exchanges as if they were one entity, as they have obligations to many people.

If we look at how voting happens, the biggest vote chunk that ever gets added is around a 5% stake.  Either thats the devs, or there is another whale of that size, or both. 

If the devs are ~5% and that is the top holder, then decreasing that by .4% means more decentralization of BTS stake.
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 06:33:20 pm

So I have you to thank for that cheap BTS? Thanks BM! I knew you loved me.  :-*


Indeed.  Everyone who bought some of the dev's BTS raise your hand!
I got about 200k of it.
Title: Re: BTS long term support
Post by: arhag on February 13, 2015, 06:35:41 pm
One positive from this in terms of decentralization is that the top holders of BTS now have ~10M less, or .4% of all supply.

How did you reach that conclusion? If this list (http://richlist.btsgame.org/) is at all accurate, then there are stakeholders with much bigger balances than that. I believe the 75m and 62m BTS (at rank 2 and 3 respectively) are in bytemaster's control as part of the AGS funds.

Edit: Oops. I misread "~10M less" as "~10M or less". My bad.

Edit2:
Unless you count btc38, yunbi, and bter as "holders" because they hold people's BTS for them, then devs collectively are definitely one of, if not the top whales.  Personally I am not counting the exchanges as if they were one entity, as they have obligations to many people.

I wonder if there were a way to guess which balances belong to the various exchanges. I would like to know just how much voting power they really have.
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 06:57:59 pm
And someone dumped it down to 3600 sat on bter again, 10% below BTC38.  (The bter dumper of the last several days is definitely someone else).  I caught some shares in the last one of these dumps but no funds to catch this one. 

If anyone has BTC on bter, put some buys in the 3610-3700 range, try to catch the crazy cheap shares of this dumper!  Its like a 10% off sale on the already sale prices.
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 07:20:43 pm
HOLY SHIT you would not believe the price I just got some BTS at on bter.  Too bad it was only like 1 BTC. 
Someone has gone crazy.
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 07:24:31 pm
What in the hell is going on? 
Title: Re: BTS long term support
Post by: nomoreheroes7 on February 13, 2015, 07:33:22 pm
What in the hell is going on?

Yea, that's kind of ridiculous. Wayyyy less than the BTC38 price. Hope it doesn't cause a panic.
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 07:38:50 pm
What in the hell is going on?

Yea, that's kind of ridiculous. Wayyyy less than the BTC38 price. Hope it doesn't cause a panic.

This WAS a panic. 
Title: Re: BTS long term support
Post by: jsidhu on February 13, 2015, 07:38:53 pm
early xmas!
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 07:39:35 pm
I will forever treasure the ~20k bts I managed to buy at about 3/4 of a cent.
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 07:51:55 pm
I wonder if the bter dumper sold because he heard that devs had sold some?  That would be silly but the timing lines up.
Title: Re: BTS long term support
Post by: jsidhu on February 13, 2015, 08:00:41 pm
Probably BM just giving some ppl paying attention the chance to get in cheap... That was 30% of the needed amount to sell so maybe that was it... and they can pay their tax now
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 08:12:53 pm
I just sold all the shares I got from 3200-3400 at 3900.  Fastest 15% profit ever.
Title: Re: BTS long term support
Post by: jsidhu on February 13, 2015, 08:13:53 pm
I hope that was the bottom and we get some strong buyers here
Title: Re: BTS long term support
Post by: Ander on February 13, 2015, 08:16:26 pm
I hope that was the bottom and we get some strong buyers here

High probability it was the bottom, imo.  The volume was HUGE.
Title: Re: BTS long term support
Post by: Ander on February 14, 2015, 01:25:00 am
I love how btc38 simply does not care what happen at bter. :P 

They are like: sooner or later you will stop being silly and come back to our price.
Title: Re: BTS long term support
Post by: nomoreheroes7 on February 14, 2015, 03:52:40 am
I love how btc38 simply does not care what happen at bter. :P 

They are like: sooner or later you will stop being silly and come back to our price.

Yea, this is ridiculous that the prices are so far off from each other now. I don't get it. And the volume at btc38 has shriveled to nothing -- $59,000 at bter and $24,000 at btc38! Very strange.
Title: Re: BTS long term support
Post by: zerosum on February 14, 2015, 04:27:18 am
I love how btc38 simply does not care what happen at bter. :P 

They are like: sooner or later you will stop being silly and come back to our price.

Yea, this is ridiculous that the prices are so far off from each other now. I don't get it. And the volume at btc38 has shriveled to nothing -- $59,000 at bter and $24,000 at btc38! Very strange.

Well it is actually pretty easy...
Disable any new BTS deposits to the btc38 exchange... Now you do not have active sellers or arbitrager. The few with funds there soon run out of said funds after making a few trades...

[edit] Yes, I did wait 7.5h for my deposit to show up. It did so... 5 minutes after the arbitrage was gone. I know it was a good day overall, with trades making me 4 to 7% all day long without btc38 but still.
Title: Re: BTS long term support
Post by: LRENZ on February 14, 2015, 05:20:11 am
^ I registered on btc38 couple hours ago and deposited bts there within 5 minutes, tried to sell at 3800 but someone just beat me to it so sold only 10k at 3700 and sent btc back to bter to buy back lower, panicked and bought back around 36500 haha so yeah pretty failed arbitration, left it too late, made about 100 bts lol

I picked up some cheaper coins earlier anyway so I'm happy.

Looks like sellers are done now, should be heading back up later. No reason not too...
Title: Re: BTS long term support
Post by: nomoreheroes7 on February 14, 2015, 04:45:09 pm
Man, so even though bitcoin is picking back up apparently we're gonna head back down anyway. What a joke.
Title: Re: BTS long term support
Post by: lzr1900 on February 14, 2015, 04:47:54 pm
darkness.
BTS.
shipwrecks.
 :'(
Title: Re: BTS long term support
Post by: mf-tzo on February 14, 2015, 05:04:46 pm
At least now officially no one can ever say that PTS-AGS shareholders had any advantage whatsoever regarding BTS. Everyone had the chance to buy  cheap BTS when it was launched and everyone has again the same chance to get in now at ridiculously low price.. Anyone has now much better odds to invest in BTS and take all the benefits of a potential upside. Personally I would much rather prefer to enter now rather than having invested in AGS - PTS 1 year ago holding for 1 year and just realizing losses now...

NXT,DRK,PPC and other respective coins at some point where x10 of what they worth now. I don't think many serious investors will invest there anymore after they dropped x10 by now and they risk to become like FTC or WDC no matter how hard they try and no matter what they do..XRP for me is doomed to fail..Banks love their fx and international transfer fees so the big banks will never implement the ripple protocol..

So the way I see it, unless we get a serious bug or another surprise announcement we should go to x10 very soon and stabilize at higher market cap for some time and gain some serious investment confidence.. Otherwise BTC will always be gold and LTC will be silver when BTS should be GOLD,SILVER AND DIAMOND all together..


 
Title: Re: BTS long term support
Post by: liondani on February 14, 2015, 05:18:42 pm
Devs are not top holders.

that's not good if true, since theoretical they should be "strong hands"...
Title: Re: BTS long term support
Post by: leon on February 14, 2015, 09:29:49 pm
At least now officially no one can ever say that PTS-AGS shareholders had any advantage whatsoever regarding BTS. Everyone had the chance to buy  cheap BTS when it was launched and everyone has again the same chance to get in now at ridiculously low price.. Anyone has now much better odds to invest in BTS and take all the benefits of a potential upside. Personally I would much rather prefer to enter now rather than having invested in AGS - PTS 1 year ago holding for 1 year and just realizing losses now...

 +5%
Same story here but at the same time one year ago I couldn't even imagine that huge potential that bitshares has today.I believe the future is very bright :)
Title: Re: BTS long term support
Post by: jsidhu on February 14, 2015, 11:09:51 pm
all alts fall when btc rises or falls.. they rise when btc is stable.. that or news comes out for the alt.. we need to finish some projects and get real money in
Title: Re: BTS long term support
Post by: nj-racoon on February 15, 2015, 03:01:14 am
 >:( >:( >:( >:(
Title: Re: BTS long term support
Post by: pyhta4og on February 15, 2015, 10:22:24 am
just sold at 360 on bter and it states now
"
We have to suspend all our services waiting for the security check. More information will be released as soon as possible. Sorry for the interruption.
"
 
Silly me...  Hackers eat my 3 btc now :)

At least bitshares distributed exchange could not be hacked.

But why so low liquidity at bitbtc at all? Nobody whom I can buy bitbtc from.



Title: Re: BTS long term support
Post by: graffenwalder on February 15, 2015, 10:37:21 am
just sold at 360 on bter and it states now
"
We have to suspend all our services waiting for the security check. More information will be released as soon as possible. Sorry for the interruption.
"
 
Silly me...  Hackers eat my 3 btc now :)

At least bitshares distributed exchange could not be hacked.

But why so low liquidity at bitbtc at all? Nobody whom I can buy bitbtc from.
Oh crap, i really hope this is something else.
But it certainly looks like a hack.
Title: Re: BTS long term support
Post by: jsidhu on February 15, 2015, 04:41:07 pm
This bter hack might be just what bts neeeded
Title: Re: BTS long term support
Post by: Ander on February 15, 2015, 05:50:14 pm
This bter hack might be just what bts neeeded

No, this is bad for BTS. 

1) Plenty of people who traded BTS had BTC on bter.  That was money that could have gone into BTS in the future, and wont now.
2) Once people get their BTS back from bter, some of them will probably dump (on btc38).  (If the hacker stole bts its much worse, though that doesnt seem to be the case).
Title: Re: BTS long term support
Post by: jsidhu on February 15, 2015, 06:13:03 pm
This bter hack might be just what bts neeeded

No, this is bad for BTS. 

1) Plenty of people who traded BTS had BTC on bter.  That was money that could have gone into BTS in the future, and wont now.
2) Once people get their BTS back from bter, some of them will probably dump (on btc38).  (If the hacker stole bts its much worse, though that doesnt seem to be the case).
not in the big picture
Title: Re: BTS long term support
Post by: robrigo on February 23, 2015, 01:18:23 pm
BTS is bucking the trend... must be a sign that we are recovering from the effects of the bter hack.
Title: Re: BTS long term support
Post by: nomoreheroes7 on February 23, 2015, 02:15:23 pm
Must mean taxes are finally paid off. Lol. Probably helps that a decent chunk of available-for-sale BTS are currently locked in the abyss of BTER.
Title: Re: BTS long term support
Post by: lil_jay890 on February 23, 2015, 02:25:41 pm
I would sacrafice my couple snapshots that I had on BTER if it meant that hundreds of millions of BTS are effectively un-sellable... it's like we have just done a massive share burn
Title: Re: BTS long term support
Post by: CLains on February 23, 2015, 06:49:15 pm
There has been a lot of sell pressure, depression, a long wait for light and web wallets as well as uncertainty over bitAsset liquidity.

For my part I just think the market is seeing the light of day https://www.youtube.com/watch?v=EZrotd1ZjbE
Title: Re: BTS long term support
Post by: jsidhu on February 23, 2015, 07:15:34 pm
I would sacrafice my couple snapshots that I had on BTER if it meant that hundreds of millions of BTS are effectively un-sellable... it's like we have just done a massive share burn

Price is driven by velocity in money markets... if supply drives up it may HELP us now, but long term less people would have their hands on bts and thats not good... and on top maybe some devs would lose funds and lose interest in developing which is even worse.... but it would cause upwards pressure short term.
Title: Re: BTS long term support
Post by: liondani on February 23, 2015, 08:09:34 pm
I would sacrafice my couple snapshots that I had on BTER if it meant that hundreds of millions of BTS are effectively un-sellable... it's like we have just done a massive share burn

Price is driven by velocity in money markets... if supply drives up it may HELP us now, but long term less people would have their hands on bts and thats not good... and on top maybe some devs would lose funds and lose interest in developing which is even worse.... but it would cause upwards pressure short term.

 I really can't imagine Devs to have many BTS sitting on centralized exchanges...

PS It is easier to me to imagine Chinese whales/dumpers having lot's of BTS ready to sell there (open sell orders)  :P
Title: Re: BTS long term support
Post by: nomoreheroes7 on February 23, 2015, 11:31:55 pm
Nice 1.68 million BTS buy just now on BTC38! Someone's accumulating.
Title: Re: BTS long term support
Post by: bytemaster on February 23, 2015, 11:38:27 pm
Lol. Pts is number 3 with 12 usd volume b
Title: Re: BTS long term support
Post by: Akado on February 23, 2015, 11:44:38 pm
https://www.cryptsy.com/markets/view/PTS_BTC

oh the walls haha
Title: Re: BTS long term support
Post by: merlin0113 on February 23, 2015, 11:57:04 pm
Nice 1.68 million BTS buy just now on BTC38! Someone's accumulating.

We don't have any good news yet, this is just a price correction after a deep deep oversell since January. We need good dev news, marketing news to support this level, or price will dive again.
Just my opinion. I just changed from a super bull to super bear due to the market performance.
I didn't sell a share though. I don't plan to sell at this shit price for any reason. A sad  story indeed.

来自我的 M040 上的 Tapatalk

Title: Re: BTS long term support
Post by: lzr1900 on February 24, 2015, 12:34:59 am
shit price now.i will hold.
Title: Re: BTS long term support
Post by: Ander on February 24, 2015, 12:46:11 am
I would sacrafice my couple snapshots that I had on BTER if it meant that hundreds of millions of BTS are effectively un-sellable... it's like we have just done a massive share burn

It wouldnt mean that.  There are only two possible outcomes:

1) Bter gives the BTS back to holders (which is what they are currently saying they will do).  Those holders are BTS community members who bought because they believe in BTS, most probably wouldnt dump.

2) Bter dumps the BTS in order to get funds.  This is horrible for the BTS price, because it means that a now smaller BTS community has to buy back all the shares that BTS believers already bought in the first place.


Hope for option 1.  If that is the case, we have probably already seen the low and grind higher over time as we correct from this oversold position / bear market.
Title: Re: BTS long term support
Post by: cube on February 24, 2015, 04:36:00 am
I would sacrafice my couple snapshots that I had on BTER if it meant that hundreds of millions of BTS are effectively un-sellable... it's like we have just done a massive share burn

It wouldnt mean that.  There are only two possible outcomes:

1) Bter gives the BTS back to holders (which is what they are currently saying they will do).  Those holders are BTS community members who bought because they believe in BTS, most probably wouldnt dump.

2) Bter dumps the BTS in order to get funds.  This is horrible for the BTS price, because it means that a now smaller BTS community has to buy back all the shares that BTS believers already bought in the first place.


Hope for option 1.  If that is the case, we have probably already seen the low and grind higher over time as we correct from this oversold position / bear market.

If scenario two happened, it could get worst.  Bter dumped its big pool of vested BTS for the rest of the remaining two-year vest.  ie pain for the next two years.