why？？？？？？maybe everybody have known that they have to pay for development and high fees when they join us.
why？？？？？？maybe everybody have known that they have to pay for development and high fees when they join us.
anyway, in this year, I never introduce BTS to my friend or anybody else.
and a lot of people which I know as an active community memeber have left BTS.
because we belive we deserve the higher payment because of our NiuBilitiy techincal, but nobody else think so
why？？？？？？maybe everybody have known that they have to pay for development and high fees when they join us.
anyway, in this year, I never introduce BTS to my friend or anybody else.
and a lot of people which I know as an active community memeber have left BTS.
because we belive we deserve the higher payment because of our NiuBilitiy techincal, but nobody else think so
no ez to find sticky thread containing instructions for:My Bitshares-PTS wallet contained PTS when the snapshot to transfer PTS to BTS occurred. I have finally set up my Bitshares 2.0 wallet and successfully pulled in my old btsx wallet. However, I can't figure out how to get my old PTS wallet info in to be exchanged for BTS. I went back and imported the PTS wallet.dat into my old Bitshares .9.3 wallet and then tried to reimport that into Bitshares 2 but was unsuccessful. The error was that it had already been imported.
You own the network, but who pays for development?
Because people don't need crypto in general .
Because people only need blockchain technology , they don't necessary want to pay for a speculative object . Sooner or later , if people does want to use this tech , there will be companies build a platform using bitshares/ethereum/bitcoin code and disregard the allocation . And they will provide better development (really,someone want to tell me how awesome the team is that even Google throw out 100000 million USD they couldn't find 100 people like them ???? ), better service , better network effect .
Speculation is the only thing that's keeping a easy-to-copy software code on tens of millions of marketcap . Usage/applications on the news is just topic for speculation world .
And BitShares killed speculative drive on the ground of getting more users . Even merger,dilution , was an excuse to get more users (and pay for development in the process) .
But users are picky . They won't show up just because you can do 1 sec transaction or you claim you can dilute forever that you have enough development to add value . They like to go with a company that can provide nice service . Godaddy , ebay ..etc ....
Speculation and their capital/liquidity contribution is the only value in BitShares . Users' usage depends on the value that the speculators provides .
When you make speculators/capital scared to come in , you make marketcap low . When you make marketcap low , users won't have decent liquidity to use your service . It's all connected .
I think the only thing that can save BitShares now is cut cost , cut big dreams , big plans , stop and burn dilution , and use outside funding to fund basic development and let them pay for a common platform . Stop taking money from where there is no money to be taken . Find money in where is plenty of money.
And don't tell me about Bitcoin mining is the same as BItShares dilution . I know a lot of BItcoin miners shutdown their mining when the price is too low . But that's hardly happened in BitShares . When BTS price is low , the magic word is "dilute on market rate " .
I know bitcoin miners buy Bitcoin when the price is low . DO bitshares dilution do that ?
oops , I've become a FUDer . ....
And don't tell me about Bitcoin mining is the same as BItShares dilution . I know a lot of BItcoin miners shutdown their mining when the price is too low . But that's hardly happened in BitShares . When BTS price is low , the magic word is "dilute on market rate " .
Because people don't need crypto in general .
Because people only need blockchain technology , they don't necessary want to pay for a speculative object . Sooner or later , if people does want to use this tech , there will be companies build a platform using bitshares/ethereum/bitcoin code and disregard the allocation . And they will provide better development (really,someone want to tell me how awesome the team is that even Google throw out 100000 million USD they couldn't find 100 people like them ???? ), better service , better network effect .
Speculation is the only thing that's keeping a easy-to-copy software code on tens of millions of marketcap . Usage/applications on the news is just topic for speculation world .
And BitShares killed speculative drive on the ground of getting more users . Even merger,dilution , was an excuse to get more users (and pay for development in the process) .
But users are picky . They won't show up just because you can do 1 sec transaction or you claim you can dilute forever that you have enough development to add value . They like to go with a company that can provide nice service . Godaddy , ebay ..etc ....
Speculation and their capital/liquidity contribution is the only value in BitShares . Users' usage depends on the value that the speculators provides .
When you make speculators/capital scared to come in , you make marketcap low . When you make marketcap low , users won't have decent liquidity to use your service . It's all connected .
I think the only thing that can save BitShares now is cut cost , cut big dreams , big plans , stop and burn dilution , and use outside funding to fund basic development and let them pay for a common platform . Stop taking money from where there is no money to be taken . Find money in where is plenty of money.
And don't tell me about Bitcoin mining is the same as BItShares dilution . I know a lot of BItcoin miners shutdown their mining when the price is too low . But that's hardly happened in BitShares . When BTS price is low , the magic word is "dilute on market rate " .
I know bitcoin miners buy Bitcoin when the price is low . DO bitshares dilution do that ?
oops , I've become a FUDer . ....
Well considering we are only paying around $250 a day for developement from SVK, Xeroc, Bill Butler(MIA) and cass. This is a pretty good deal. The documentation is getting better and so is the interface. The problem is when CNX comes in and runs a huge worker proposal. It dilutes like crazy and it passes with hardly any friction at all... It just furthers the thought that bts is centralized.
I'm a big fan of what Abit has done with the percentage based fees. It's great to see outside devs doing things for the project.
Overall the ecosystem is growing. Productive UIA's are coming out and some third parties (OPENPOS and odoo) are starting to implement bts and smart coins. I look forward to seeing what freebie is doing and the addition of fiat on ramps from CCEDK. CNX seems to have stepped back from bts and has focused on stealth and maybe some other things. Their github has been quite and I think this is a good thing.
Investors hate uncertainty and bts is about as uncertain as you can get.
Simply this:
(http://i.imgur.com/Lw6qWVp.png)
This is why we are not seeing any growth in the smartcoin market. The lending market will fix this as I have outlined in this post. (https://bitsharestalk.org/index.php/topic,20976.msg271612.html#msg271612)
In order to become profitable bitshares has to solve a real-world problem that has not already been solved. Right now it doesn't completely solve a real-world problem, but it is 90% of the way there. Stealth, by itself, does not solve a real world problem that has not already been solved but it is necessary. The two things on the docket that will allow bitshares to solve a real world problem are the lending market (https://bitsharestalk.org/index.php/topic,20976.msg271612.html#msg271612) and the prediction market. The lending market, in conjunction with the creation of the most popular physical commodity markets and equity market indicies, and making of these markets will solve a real world problem that has never been solved before in a decentralized fashion. Maker will be helpful too.
Once stealth is done, we should go full force and fund the lending market and prediction market (at the same time if possible) through cnx, no matter what the cost. The cost will be worse if we don't.And don't tell me about Bitcoin mining is the same as BItShares dilution . I know a lot of BItcoin miners shutdown their mining when the price is too low . But that's hardly happened in BitShares . When BTS price is low , the magic word is "dilute on market rate " .
That is a good point. Development doesn't get cheaper as prices fall.
I'm with you.. I actually was hoping to see more feedback from others in your thread but saw nothing.
Are there any regulatory issues we may face in creating lending markets like this?
just want to remind people they can very easily get TRYBITSHARES from me to hand out on social media. The idea is that instead of telling them how great bts is...you give them some TRYBITSHARES tokens and let them setuo a wallet and withdraw them ...in a tx that takes less than 3 seconds.What you saying is give away BTS for free? hope you are not one of BTS dev
We have tools at our disposal. We simply need to get bts into the hands of people who will check it out.
fba mode is good
you use bts as tools platform to do business
share the income with bts the developer get the large part
just want to remind people they can very easily get TRYBITSHARES from me to hand out on social media. The idea is that instead of telling them how great bts is...you give them some TRYBITSHARES tokens and let them setuo a wallet and withdraw them ...in a tx that takes less than 3 seconds.What you saying is give away BTS for free? hope you are not one of BTS dev
We have tools at our disposal. We simply need to get bts into the hands of people who will check it out.
Well considering we are only paying around $250 a day for developement from SVK, Xeroc, Bill Butler(MIA) and cass. This is a pretty good deal. The documentation is getting better and so is the interface. The problem is when CNX comes in and runs a huge worker proposal. It dilutes like crazy and it passes with hardly any friction at all... It just furthers the thought that bts is centralized.
I'm a big fan of what Abit has done with the percentage based fees. It's great to see outside devs doing things for the project.
Overall the ecosystem is growing. Productive UIA's are coming out and some third parties (OPENPOS and odoo) are starting to implement bts and smart coins. I look forward to seeing what freebie is doing and the addition of fiat on ramps from CCEDK. CNX seems to have stepped back from bts and has focused on stealth and maybe some other things. Their github has been quite and I think this is a good thing.
Investors hate uncertainty and bts is about as uncertain as you can get.
why？？？？？？
why？？？？？？Because it's really confusing.
If a lay person lands on the BitShares home page they are greeted with this:
"BitShares is an industrial-grade financial blockchain smart contracts platform" - Bounce rate high much?
If a lay person lands on the BitShares home page they are greeted with this:
"BitShares is an industrial-grade financial blockchain smart contracts platform" - Bounce rate high much?
@bizzyb :: BAMM +5%
I don't think we need to add additional websites, but we should make the techie stuff a bit more of a drill-down from the homepage so for those who really feel the need to learn that stuff, then make them dig a bit more than the average user. The Bitshares.org main page should be friendly enough for my grandma to "get it".
Just do one of those reactjs slider thingies:
BitShares let's you bank without a Bank.
BitShares secures your wealth without the middlemen.
BitShares let's you invest without the Broker.
BitShares facilitates contracts without a Lawyer.
BitShares isn't a company you must trust, it's a Blockchain.
BitShares is your borderless, digital payments platform.
I don't know, but there's a few ideas.
If a lay person lands on the BitShares home page they are greeted with this:
"BitShares is an industrial-grade financial blockchain smart contracts platform" - Bounce rate high much?
@bizzyb :: BAMM +5%
I don't think we need to add additional websites, but we should make the techie stuff a bit more of a drill-down from the homepage so for those who really feel the need to learn that stuff, then make them dig a bit more than the average user. The Bitshares.org main page should be friendly enough for my grandma to "get it".
Just do one of those reactjs slider thingies:
BitShares let's you bank without a Bank.
BitShares secures your wealth without the middlemen.
BitShares let's you invest without the Broker.
BitShares facilitates contracts without a Lawyer.
BitShares isn't a company you must trust, it's a Blockchain.
BitShares is your borderless, digital payments platform.
I don't know, but there's a few ideas.
@kenCode, something like this has already been on bitshares.org (year or so ago, Brian Page's time) and this didn't work, it's like saying BitShares is everything for everyone, it may sound cool but it doesn't convert visitors to users.
We still don't have any consensus around what BitShares is - part of the community see it as DEX, another part want to see at as platform, some want to see it as a bank with stable currencies, etc.
I think BitShares is missing its product-market fit. In order to achieve it, we need to start with a problem we want to solve and specify users' segment looking for the solution to this specific problem - this is what called "customer development" in Lean Startup. After problem and segment is confirmed it would be much easier to figure out how to market it and how to change UI so it really helps users to solve their problems.
bitshares change tooooooooooooooooooooo much.
its the democratic comunity that his leader come and say we going to change everything cuz is better and we have approval of stakeholders,,,,,, without voting
the coders make his own cryptonomex bussiness at side of bitshares
no moar funders or reputation for comunity members, also heard weird histories of devs working here talking shit about Stan ect..
its a total private platform and you see identabit, if tomorrow comes Citybank to buy a clone of bitshares, bitshares holder dont win nothing. (a sharedrop if company want to do it.) Criptonomex eat all.
i think good question is why normal people should use bitshares or what profit they has ,,, i not find responses, remember bitsharesX i have reasons with bitshares 2.0 NO
what i learn here from greedy devs-delegates i just not move one finger again if my pocket isnt filled with BTS.
my work isnt have less value than a coder, so promote Bitshares your self when finish coding.
you want comunnity invest , comunitty spread the word for about 3 years make few big structural changes , FOR NOTHIG just to FILL your pockets. common and now you surprised we finish alone communitty gone. What can had fail we do same shit like steve jobs breaking status quo with devs & comunitty ----- WHY nobody uses BTS2.0 ?????? if is tha best (to fill your pockets)
almost BTS 2 is finished but all the rest of DACs still are on the way.... lot of promises .... no results ... people gone.
If a lay person lands on the BitShares home page they are greeted with this:
"BitShares is an industrial-grade financial blockchain smart contracts platform" - Bounce rate high much?
@bizzyb :: BAMM +5%
I don't think we need to add additional websites, but we should make the techie stuff a bit more of a drill-down from the homepage so for those who really feel the need to learn that stuff, then make them dig a bit more than the average user. The Bitshares.org main page should be friendly enough for my grandma to "get it".
Just do one of those reactjs slider thingies:
BitShares let's you bank without a Bank.
BitShares secures your wealth without the middlemen.
BitShares let's you invest without the Broker.
BitShares facilitates contracts without a Lawyer.
BitShares isn't a company you must trust, it's a Blockchain.
BitShares is your borderless, digital payments platform.
I don't know, but there's a few ideas.
@kenCode, something like this has already been on bitshares.org (year or so ago, Brian Page's time) and this didn't work, it's like saying BitShares is everything for everyone, it may sound cool but it doesn't convert visitors to users.
We still don't have any consensus around what BitShares is - part of the community see it as DEX, another part want to see at as platform, some want to see it as a bank with stable currencies, etc.
I think BitShares is missing its product-market fit. In order to achieve it, we need to start with a problem we want to solve and specify users' segment looking for the solution to this specific problem - this is what called "customer development" in Lean Startup. After problem and segment is confirmed it would be much easier to figure out how to market it and how to change UI so it really helps users to solve their problems.
absolutely agree. and while we're still in identity crisis, competitors are popping up. supernet has a beta DEX (and stablecoin in the making), Ethereum's EtherEx is in alpha (soon beta) and with digix there will be a backed gold token + rune's Dai soonish, even Nubits are working on their B&C exchange. and all of them are able to use stablecoins.
we are focused -- building on top of BitShares and encouraging other's to do the same.
We never stop working and spending our own resources to grow the ecosystem.
You may disagree on what we work on first, but it would be incorrect to say we are not working if someone is not "stuffing our pockets". Our pockets are actually quite fat-free right now. :)
Our key objective was to get the platform out there in the open so other people could build on it in parallel without waiting for us as the bottleneck.
Judging from the number of independent projects you can see being discussed, that seems to be working.
I spend most of my time supporting independent third parties with great ideas. Some of them have since become well known here and others are still working on building teams and getting funding.
I expect to have more to say about this in a month or so - but Cryptonomex is increasingly just one of many ways to get things done.
As for change, what has changed since the big 2.0 upgrade which incorporated a year's worth of lesson's learned?
Market cap doesn't reflect underlying value because it takes research to see how much is going on here and many would rather just analyze short term chart wiggles. Crypto capital is not stable. It can move from trend to trend since it is not locked up like it is with normal startup investments. Allocation of capital is not driven by fundamentals and speculators often sell following great news. To take our price out of the hands of short term speculators we need to create other, more stable sources of demand.
And that means helping real businesses bring real services to real customers. And each business will explain their own value proposition to their own customers in their own way. Marketing BitShares is not "one size fits all".
So that's where we are focused -- building on top of BitShares and encouraging other's to do the same.
We never stop working and spending our own resources to grow the ecosystem.
You may disagree on what we work on first, but it would be incorrect to say we are not working if someone is not "stuffing our pockets". Our pockets are actually quite fat-free right now. :)
Our key objective was to get the platform out there in the open so other people could build on it in parallel without waiting for us as the bottleneck.
Judging from the number of independent projects you can see being discussed, that seems to be working.
I spend most of my time supporting independent third parties with great ideas. Some of them have since become well known here and others are still working on building teams and getting funding.
I expect to have more to say about this in a month or so - but Cryptonomex is increasingly just one of many ways to get things done.
As for change, what has changed since the big 2.0 upgrade which incorporated a year's worth of lesson's learned?
Market cap doesn't reflect underlying value because it takes research to see how much is going on here and many would rather just analyze short term chart wiggles. Crypto capital is not stable. It can move from trend to trend since it is not locked up like it is with normal startup investments. Allocation of capital is not driven by fundamentals and speculators often sell following great news. To take our price out of the hands of short term speculators we need to create other, more stable sources of demand.
And that means helping real businesses bring real services to real customers. And each business will explain their own value proposition to their own customers in their own way. Marketing BitShares is not "one size fits all".
So that's where we are focused -- building on top of BitShares and encouraging other's to do the same.
Market cap doesn't reflect underlying value because it takes research to see how much is going on here and many would rather just analyze short term chart wiggles. Crypto capital is not stable. It can move from trend to trend since it is not locked up like it is with normal startup investments. Allocation of capital is not driven by fundamentals and speculators often sell following great news. To take our price out of the hands of short term speculators we need to create other, more stable sources of demand.^^ This
bitshares change tooooooooooooooooooooo much.
its the democratic comunity that his leader come and say we going to change everything cuz is better and we have approval of stakeholders,,,,,, without voting
the coders make his own cryptonomex bussiness at side of bitshares
no moar funders or reputation for comunity members, also heard weird histories of devs working here talking shit about Stan ect..
its a total private platform and you see identabit, if tomorrow comes Citybank to buy a clone of bitshares, bitshares holder dont win nothing. (a sharedrop if company want to do it.) Criptonomex eat all.
i think good question is why normal people should use bitshares or what profit they has ,,, i not find responses, remember bitsharesX i have reasons with bitshares 2.0 NO
what i learn here from greedy devs-delegates i just not move one finger again if my pocket isnt filled with BTS.
my work isnt have less value than a coder, so promote Bitshares your self when finish coding.
you want comunnity invest , comunitty spread the word for about 3 years make few big structural changes , FOR NOTHIG just to FILL your pockets. common and now you surprised we finish alone communitty gone. What can had fail we do same shit like steve jobs breaking status quo with devs & comunitty ----- WHY nobody uses BTS2.0 ?????? if is tha best (to fill your pockets)
almost BTS 2 is finished but all the rest of DACs still are on the way.... lot of promises .... no results ... people gone.
That's funny how it's seen in a completely different light from developers side - while we are working hard being significantly underpaid for more than a year now, a lot of community members and original investors sell their stake just in order to speculate on some brand new fancy cryptocoin.
Every basis point lost in BitShares market cap is a missed opportunity to implement some new feature or attract more users/developers.
Saying Cryptonomex is greedy while it's trying to save BitShares releasing Graphene under free license and not going after any IP, just to make it more attractive for developers at the price of making Cryptonomex completely running out of anything that can be sold to investors, to banks or anybody else. I would say that Cryptonomex has sacrificed its own future trying to save BitShares, so it's weird to hear how greedy we are.
bitshares change tooooooooooooooooooooo much.
its the democratic comunity that his leader come and say we going to change everything cuz is better and we have approval of stakeholders,,,,,, without voting
the coders make his own cryptonomex bussiness at side of bitshares
no moar funders or reputation for comunity members, also heard weird histories of devs working here talking shit about Stan ect..
its a total private platform and you see identabit, if tomorrow comes Citybank to buy a clone of bitshares, bitshares holder dont win nothing. (a sharedrop if company want to do it.) Criptonomex eat all.
i think good question is why normal people should use bitshares or what profit they has ,,, i not find responses, remember bitsharesX i have reasons with bitshares 2.0 NO
what i learn here from greedy devs-delegates i just not move one finger again if my pocket isnt filled with BTS.
my work isnt have less value than a coder, so promote Bitshares your self when finish coding.
you want comunnity invest , comunitty spread the word for about 3 years make few big structural changes , FOR NOTHIG just to FILL your pockets. common and now you surprised we finish alone communitty gone. What can had fail we do same shit like steve jobs breaking status quo with devs & comunitty ----- WHY nobody uses BTS2.0 ?????? if is tha best (to fill your pockets)
almost BTS 2 is finished but all the rest of DACs still are on the way.... lot of promises .... no results ... people gone.
That's funny how it's seen in a completely different light from developers side - while we are working hard being significantly underpaid for more than a year now, a lot of community members and original investors sell their stake just in order to speculate on some brand new fancy cryptocoin.
Every basis point lost in BitShares market cap is a missed opportunity to implement some new feature or attract more users/developers.
Saying Cryptonomex is greedy while it's trying to save BitShares releasing Graphene under free license and not going after any IP, just to make it more attractive for developers at the price of making Cryptonomex completely running out of anything that can be sold to investors, to banks or anybody else. I would say that Cryptonomex has sacrificed its own future trying to save BitShares, so it's weird to hear how greedy we are.
We can still be ahead of our competitors - they can stumble upon the same issues, so we have a chance to resolve product-market fit issue first.
Do you think there are blockchain projects achieved product-market fit already and show a good traction? Please post some examples here.
Simply this:
(http://i.imgur.com/Lw6qWVp.png)
This is why we are not seeing any growth in the smartcoin market.
Example:
with 1 BTC worth of BTS you can short 1 BTC. Any x% increase in the BTS price (in respect to BTC) results in profit from that short position. The amount of BTS profited is exactly x/100 in BTC terms.
So with 100 K BTS and BTS price at 100,000 BTS/BTC and we short 1 BTC.(we get 100K bts from this sell.)
The price doubles (aka 100% price increase) to 50,000 BTS/BTC. We buy the one bitBTC back paying 50K from the 100K BTS we got from selling it => profit of 50K BTS... which are worth exactly 1 BTC. and we have exactly 100% profit on 100% price increase.
This btw continues on - at 120% increase one will have 120% profit and so on... and the potential lost is never .well more than 100% or 1BTC worth of BTS.
Example:
with 1 BTC worth of BTS you can short 1 BTC. Any x% increase in the BTS price (in respect to BTC) results in profit from that short position. The amount of BTS profited is exactly x/100 in BTC terms.
So with 100 K BTS and BTS price at 100,000 BTS/BTC and we short 1 BTC.(we get 100K bts from this sell.)
Your initial outlay will be 200k bts at 2x collateral, all of which is at risk... so if price goes to 200,000 BTS/BTC, you loose 100% of all 200,000 bts
why？？？？？？Because it's really confusing.
As an outsider looking in I have no idea what's going on.
Yes, the technology is cutting edge, but I have no idea what benefits it has to me.
The message is being lost.
Suggestion.
Bitshares needs two outward facing websites.
Bitshares.org - designed for the lay person/businesses so they can get involved, buy, mine, download app, create wallet
Bitsharespro.org - designed for the tech minded, devs, all the high level techy facts & figures etc
BitShares can't be everything to everyone all on a single webpage.
What would be amazing is if there was some kind of "wizard" tool to help people create all these weird things you can with Bitshares. There are like dozens of acronyms for things I think?
But anyway > step 1 - do you want to create an asset (like an interesting paying bond) or do you want to create a new loan, ,step 2 - what is your project called step 3 - the charge for this is 500 BTS, please send to this address or buy BTS from here, step 4 - your project is now live -
or whatever, but hopefully you see the benefit of simplicity?
If a lay person lands on the BitShares home page they are greeted with this:
"BitShares is an industrial-grade financial blockchain smart contracts platform" - Bounce rate high much?
Example:
with 1 BTC worth of BTS you can short 1 BTC. Any x% increase in the BTS price (in respect to BTC) results in profit from that short position. The amount of BTS profited is exactly x/100 in BTC terms.
So with 100 K BTS and BTS price at 100,000 BTS/BTC and we short 1 BTC.(we get 100K bts from this sell.)
Your initial outlay will be 200k bts at 2x collateral, all of which is at risk... so if price goes to 200,000 BTS/BTC, you loose 100% of all 200,000 bts
Nope! Exactly 100K BTS.
Do you wanna bet?
1.You deposit exactly 1BTC worth of BTS into an account. (127,353 BTS as of this writing)
2. You give me access to this account (by changing the permissions in the GUI to threshold of 1 and my account weight set to 1)
3. I will short you 1 bitBTC without sending any more money to that account.
4. When you have 1 bitBTC short in that account, everything that is not in collateral is what I get for winning the bet. ( Idk, maybe even I can leave you 50% of all proceeds of bitBTC sold above feed price :) )
Deal?
PS
You might also post the account here so the curious can enjoy.
PSS
I cut your post to the point where you got it wrong, so the rest of it is based on erroneous facts.
I don't bet unless the odds are in my favor and you sound pretty confident so Im sure I could lose this one. Maybe you know some backdoor hack to do that, in which case it would be an attack that would render the whole thing useless until fixed.
I am coming at this from an end user perspective, which is the most important perspective. Explain to me this:
I get the following message when trying to create 1 bitcoin at a 1:1 collateral ratio (128,972 bts to 1 btc): Collateral ratio is too low, position will be margin called instantly.
...
Short .5 bts then sell that, then use those funds to short .3 bts then sell them then use those funds to short the last .2. Btc price is so high this would net more than 1 btc short.
When you create an asset you not only get the short position you also get the asset.
They don't have to string together a series a trades. If I borrow 1btc from the network at 2x collateral, and then sell that btc into the market I should recover at least half of my collateral. Although it took an initial outlay of twice the bts, I only have 1 btc worth of bts tied up as collateral. Until my sell goes through I am not short and no funds are risked. I can close my borrow position at any time.