BitShares Forum
Main => General Discussion => Topic started by: fuzzy on August 31, 2014, 01:12:43 am
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Looks like the price is making some fast moves upward.
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As I mentioned here: https://bitsharestalk.org/index.php?topic=7714.msg105473#msg105473
I expect we go to at least 0.000072
Watch those levels closely.
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And i can't short BitUSD :'(
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Maybe my pre-pause short will pay off :P. I might make $10 lol
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Hahaha, nobody sell to exchanges this time,
ONLY BITUSD ALLOWED
(https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcTmjSPXq_HIm_AmhzeSL47Czw9zaOzOxuF9Wuu7jELooa1C4ixu_w)
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lololol
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Hahaha, nobody sell to exchanges this time,
ONLY BITUSD ALLOWED
(https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcTmjSPXq_HIm_AmhzeSL47Czw9zaOzOxuF9Wuu7jELooa1C4ixu_w)
+5%
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The kind of volumes BTSX consistently does is incredible
Excl. Bitcoin & Litecoin we sometimes do like today more volume than everyone else combined.
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The kind of volumes BTSX consistently does is incredible
Excl. Bitcoin & Litecoin we sometimes do like today more volume than everyone else combined.
But, but empir...didnt you hear...bitUSD is "broken"! Its allllll over for us! :P
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The kind of volumes BTSX consistently does is incredible
Excl. Bitcoin & Litecoin we sometimes do like today more volume than everyone else combined.
That can only mean one thing.. and it is very bullish. Well its hard to pinpoint a true value because there is no supply daily... whereas in a normal coin you can find a safe resting level by knowing the average volume and the amount of supply daily and find which coins are overbought or oversold based on that volume.. with btsx you don't... so its tricky.. it does kind of create bubble thinking when you read about the burning of coins which speculators love. So supply is being reduced only and no miners to sell on a daily basis..
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The kind of volumes BTSX consistently does is incredible
Excl. Bitcoin & Litecoin we sometimes do like today more volume than everyone else combined.
But, but empir...didnt you hear...bitUSD is "broken"! Its allllll over for us! :P
:) I hope this ride won't be too big though. I think it's a fair price for where the code seems to be atm.
My feeling now is I'd like to see BTSX consolidate below the 80-85 Million CAP until there's a more stable, bug free version.
And then only see it make a big move to overtake LiteCoin when there's a more robust, decentralised BitAsset system, because if we take the no.2 spot (with the spotlight that brings) in place, given the kind of volumes we already see, it might sound crazy but I actually think this can go to Bitcoin territory < 4 months after that.
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The kind of volumes BTSX consistently does is incredible
Excl. Bitcoin & Litecoin we sometimes do like today more volume than everyone else combined.
But, but empir...didnt you hear...bitUSD is "broken"! Its allllll over for us! :P
:) I hope this ride won't be too big though. I think it's a fair price for where the code seems to be atm.
My feeling now is I'd like to see BTSX consolidate below the 80-85 Million CAP until there's a more stable, bug free version.
And then only see it make a big move to overtake LiteCoin when there's a more robust, decentralised BitAsset system, because if we take the no.2 spot (with the spotlight that brings) in place, given the kind of volumes we already see, it might sound crazy but I actually think this can go to Bitcoin territory < 4 months after that.
doesn't sound crazy at all...
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The kind of volumes BTSX consistently does is incredible
Excl. Bitcoin & Litecoin we sometimes do like today more volume than everyone else combined.
But, but empir...didnt you hear...bitUSD is "broken"! Its allllll over for us! :P
:) I hope this ride won't be too big though. I think it's a fair price for where the code seems to be atm.
My feeling now is I'd like to see BTSX consolidate below the 80-85 Million CAP until there's a more stable, bug free version.
And then only see it make a big move to overtake LiteCoin when there's a more robust, decentralised BitAsset system, because if we take the no.2 spot (with the spotlight that brings) in place, given the kind of volumes we already see, it might sound crazy but I actually think this can go to Bitcoin territory < 4 months after that.
Do you guys think the BitAsset pegs will work out (mostly) as planned?
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The kind of volumes BTSX consistently does is incredible
Excl. Bitcoin & Litecoin we sometimes do like today more volume than everyone else combined.
But, but empir...didnt you hear...bitUSD is "broken"! Its allllll over for us! :P
:) I hope this ride won't be too big though. I think it's a fair price for where the code seems to be atm.
My feeling now is I'd like to see BTSX consolidate below the 80-85 Million CAP until there's a more stable, bug free version.
And then only see it make a big move to overtake LiteCoin when there's a more robust, decentralised BitAsset system, because if we take the no.2 spot (with the spotlight that brings) in place, given the kind of volumes we already see, it might sound crazy but I actually think this can go to Bitcoin territory < 4 months after that.
Do you guys think the BitAsset pegs will work out (mostly) as planned?
do you not?
if you tell the people it is worth 1 USD it will in the long run be worth 1 USD plus/minus advantages or disadvantages against holding USD directly. Actually i expect bitUSD will be a little bit more worth then USD.
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do you not?
I want to believe. I feel as though I don't know enough about market dynamics to come to any sort of educated conclusion. However, I do know that if this little experiment works out and BitAssets hold their pegs, BTSX is going to skyrocket in value. Solving the volatility issue is the holy grail and (in my opinion) the only thing holding crypto back from achieving new highs.
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I think the peg will work well. From regulatory perspective, I'm not sure how it will play out, very gray area. Sounds like I3 has done their homework, but remains to be seen what new rulings may come out of this experiment.
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I think the peg will work well. From regulatory perspective, I'm not sure how it will play out, very gray area. Sounds like I3 has done their homework, but remains to be seen what new rulings may come out of this experiment.
New rulings? No law has been broken and there is nothing to regulate. Fiat isn't being exchanged, there's no actual securities involved, and to regulate this would be like regulating World of Warcraft only more difficult because there is no CEO to go after.
All the regulation will take place at financial institutions. So when you go to cash out into fiat you'll be dealing with banks and will be regulated there. Anything which happens on the blockchain is outside of any governments jurisdiction until it's connected to the real world.
Of course at some point they might be crazy enough to try but there will always be governments which are more sane and delegates can move there.
do you not?
I want to believe. I feel as though I don't know enough about market dynamics to come to any sort of educated conclusion. However, I do know that if this little experiment works out and BitAssets hold their pegs, BTSX is going to skyrocket in value. Solving the volatility issue is the holy grail and (in my opinion) the only thing holding crypto back from achieving new highs.
Not the only thing holding crypto back but a major thing. I think BitUSD is the least interesting BitAsset. Most people don't really need BitUSD because they are happy to use their credit cards.
It's the other more exotic BitAssets which will change the world. When people can trade stocks and have a sort of virtual Forex that is when the game will change. The only thing holding that back is the fact that there is no way to turn these virtual assets into legal assets.
Regulators ultimately determine the rules for legal securities. The crypto ecosystem doesn't have enough regulated entities but suppose for example the Bitcoin ETF company decided to issue a BitAsset called Coin?
That BitAsset would be pegged to Bitcoin just like BitBTC only you cuold send your tokens to them and they'll be turned into stocks? That is what I'm waiting to see personally. I don't think Bitshares is going to replace the NASDAQ or S&P500 but maybe it doesn't have to? Maybe it could be a new way to introduce people to the stock market and let them buy stocks.
This is what Bitshares X is in my opinion: https://secure.marketwatch.com/game/
only we could do it better and let people actually exchange the in game stocks for legal stocks someday. That means Bitshares X is a virtual stock exchange "serious" game.
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Awesome summary .. thx luckybit
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Once BTSX is listed on BTC China, it's all over for Bitcoin. The volumes that BTSX will experience on there will be the tipping point.
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Once BTSX is listed on BTC China, it's all over for Bitcoin. The volumes that BTSX will experience on there will be the tipping point.
BTC China only trades with BTC and LTC, I'm really skeptical about them adding btsX any time soon.. It's something I would definetely love to see but I really doubt it..
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Once BTSX is listed on BTC China, it's all over for Bitcoin. The volumes that BTSX will experience on there will be the tipping point.
BTC China only trades with BTC and LTC, I'm really skeptical about them adding btsX any time soon.. It's something I would definetely love to see but I really doubt it..
Yes, I think 'BTC China's CEO, Bobby Lee, is the elder brother of litecoin inventor Charles Lee', so there is maybe a conflict of interest there that will be hard to overcome at first, but eventually they will add BTSX I think.
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All of the coins in the top 10 (market cap) are going down in value along with BTC... except BTSX. I view this as very bullish.
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Once BTSX is listed on BTC China, it's all over for Bitcoin. The volumes that BTSX will experience on there will be the tipping point.
BTC China only trades with BTC and LTC, I'm really skeptical about them adding btsX any time soon.. It's something I would definetely love to see but I really doubt it..
Yes, I think 'BTC China's CEO, Bobby Lee, is the elder brother of litecoin inventor Charles Lee', so there is maybe a conflict of interest there that will be hard to overcome at first, but eventually they will add BTSX I think.
I think that BTC China likes to make profit and when BTSX passes LTC they will want to have share of the pie. :)
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I think the peg will work well. From regulatory perspective, I'm not sure how it will play out, very gray area. Sounds like I3 has done their homework, but remains to be seen what new rulings may come out of this experiment.
New rulings? No law has been broken and there is nothing to regulate. Fiat isn't being exchanged, there's no actual securities involved, and to regulate this would be like regulating World of Warcraft only more difficult because there is no CEO to go after.
I hear you luckybit, but that's more wishful thinking than reality. You mean to tell me you haven't seen the governments abuse their own laws?
The moment you have something that allows private transfer of value (TITAN) and becomes big, they will work hard to find a way to shut it down.
They can block all the gateways. And if there is no inflow of BTC -> BTSX and USD -> BitUSD, the prediction market won't matter anymore.
Then it really would be just a game as you described. :)
I'm not saying this is a problem right now, but if it gets to a $1B market cap, you bet your ass people will start paying attention and look into it very seriously.
BTER.com is a .com domain. It can be seized, and probably will be at some point. Unless they use BDNS. If Cryptsy gets a letter in the mail to stop BTSX trading, trust me it will.
Where I am going with this is that, I would like to see DACSUN/I3 get big companies on board, like the Overstock we heard talked about before. And work towards regulation friendly solutions, so they don't get a bite in the ass later on.
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I hear you luckybit, but that's more wishful thinking than reality. You mean to tell me you haven't seen the governments abuse their own laws?
The moment you have something that allows private transfer of value (TITAN) and becomes big, they will work hard to find a way to shut it down.
They can block all the gateways. And if there is no inflow of BTC -> BTSX and USD -> BitUSD, the prediction market won't matter anymore.
Then it really would be just a game as you described. :)
I'm not saying this is a problem right now, but if it gets to a $1B market cap, you bet your ass people will start paying attention and look into it very seriously.
BTER.com is a .com domain. It can be seized, and probably will be at some point. Unless they use BDNS. If Cryptsy gets a letter in the mail to stop BTSX trading, trust me it will.
Where I am going with this is that, I would like to see DACSUN/I3 get big companies on board, like the Overstock we heard talked about before. And work towards regulation friendly solutions, so they don't get a bite in the ass later on.
I agree but still even if they shut everything down, exchanges can operate under .bit or .p2p etc isn't it? So in the end of the day it will just be a case of further educate people about decentralization of cryptos, merchants and big companies to come on board, issue their stocks, selling their products, people accepting cryptos for their services and salaries etc..
Of course a lot of people during this trip will make fortunes and others will lose fortunes but the invention of the internet opened Pandora's box. It's not that easy to close it anymore..
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I think the peg will work well. From regulatory perspective, I'm not sure how it will play out, very gray area. Sounds like I3 has done their homework, but remains to be seen what new rulings may come out of this experiment.
New rulings? No law has been broken and there is nothing to regulate. Fiat isn't being exchanged, there's no actual securities involved, and to regulate this would be like regulating World of Warcraft only more difficult because there is no CEO to go after.
I hear you luckybit, but that's more wishful thinking than reality. You mean to tell me you haven't seen the governments abuse their own laws?
The moment you have something that allows private transfer of value (TITAN) and becomes big, they will work hard to find a way to shut it down.
They can block all the gateways. And if there is no inflow of BTC -> BTSX and USD -> BitUSD, the prediction market won't matter anymore.
Then it really would be just a game as you described. :)
I'm not saying this is a problem right now, but if it gets to a $1B market cap, you bet your ass people will start paying attention and look into it very seriously.
BTER.com is a .com domain. It can be seized, and probably will be at some point. Unless they use BDNS. If Cryptsy gets a letter in the mail to stop BTSX trading, trust me it will.
Where I am going with this is that, I would like to see DACSUN/I3 get big companies on board, like the Overstock we heard talked about before. And work towards regulation friendly solutions, so they don't get a bite in the ass later on.
It seems Bytemaster agrees with this line of reasoning as he has generally stated that they are looking to build such regulatory-friendly solutions.
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@bitmeat
People said the same thing about bitcoin when it first started getting popular. I was positive there would be a massive government backlash. I thought they would close the on/off ramps and make it illegal to accept BTC as payment. That didn't happen. If the powers that be try to do that to BTSX, it will end up getting even more attention. It'll be like an admission to anyone in the crypto space that the BitShares Exchange is really the thing everyone should be paying attention to. The government would have to "ban" BTSX while leaving the other cryptos untouched. What's the distinction between the two? How could that law be written?
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@bitmeat
People said the same thing about bitcoin when it first started getting popular. I was positive there would be a massive government backlash. I thought they would close the on/off ramps and make it illegal to accept BTC as payment. That didn't happen. If the powers that be try to do that to BTSX, it will end up getting even more attention. It'll be like an admission to anyone in the crypto space that the BitShares Exchange is really the thing everyone should be paying attention to. The government would have to "ban" BTSX while leaving the other cryptos untouched. What's the distinction between the two? How could that law be written?
I'm only saying this after talking with a friend who runs an exchange and does all by the book. He explained to me some of the other less known reasons why Mt. Gox failed. They were not taking compliance very seriously.
Perhaps he is super conservative and has to be because of the nature of his business and relationships with the banks.
But he said that BTC is not anonymous, so that's why it hasn't been touched. And that the moment anonymous solutions get big, they find a way to squat them down.
Either way, work towards regulation early on before it gets big is the best bet. At least guidance needs to happen. i.e. how does tax work for assets that were converted within the same blockchain?
Are they really different assets? etc. etc. etc.
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I agree, if we have some people familiar with laws (or hire them) in different regions we can essentially create a disclaimer so people can understand how it will integrate into society. This is something that smart money in the stock market will eat up if its done right and they agree that it wont be an issue going forward. Also as the whitehouse had meetings for bitcoin to discuss the tech.. most of the time was spent understanding the blockchain technology so they can figure out how it applies to taxing etc.. so with the legal disclaimers it will an easier job for politicians to understand as this is what they do all day. If we leave it up to interpretation I believe many will take it the wrong way and many big investors will give it the snub because they may think that their investment may crash one day overnight if a ruling to ban a certain type of trading on blockchain type assets gets passed.
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The kind of volumes BTSX consistently does is incredible
Excl. Bitcoin & Litecoin we sometimes do like today more volume than everyone else combined.
But, but empir...didnt you hear...bitUSD is "broken"! Its allllll over for us! :P
:) I hope this ride won't be too big though. I think it's a fair price for where the code seems to be atm.
My feeling now is I'd like to see BTSX consolidate below the 80-85 Million CAP until there's a more stable, bug free version.
And then only see it make a big move to overtake LiteCoin when there's a more robust, decentralised BitAsset system, because if we take the no.2 spot (with the spotlight that brings) in place, given the kind of volumes we already see, it might sound crazy but I actually think this can go to Bitcoin territory < 4 months after that.
Do you guys think the BitAsset pegs will work out (mostly) as planned?
The peg already does work. That's the amazing thing. With limited depth and volume, it's already proven itself; it's just that the price lags a bit because BitUSD is so new and there's limited demand for it yet. Once the code is fixed and exchange GUI is added to a point where this is seamless and user-friendly, volumes will increase and the BitUSD price will track USD more closely. But honestly; that's the easy part. I think the market doesn't realize that the biggest "if" question has been answered already; the fundamental design is very sound and people eagerly put money on both sides of the peg already. That's not to minimize the hard work remaining for the developers to get this fully operational, but honestly the remaining work involves tweaks. I've always wanted to believe this would work, but until this launch it wasn't proven. Now I'm sure.
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The market peg works already better then expected! What else do we want?
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The market peg works already better then expected! What else do we want?
A slick trading platform. I'll be making a pitch for that.
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The market peg works already better then expected! What else do we want?
A slick trading platform. I'll be making a pitch for that.
Just steal as much as you can from something already working on stock exchange.
No need to invent the wheel.
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Just steal as much as you can from something already working on stock exchange.
No need to invent the wheel.
Ah, that's right... I almost forgot! Quality and innovation is not welcome here. :)
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Ah, that's right... I almost forgot! Quality and innovation is not welcome here. :)
Don't know who runs bitcoinwisdom, but that is some serious quality charting right there. Some collaboration might be better than reinventing the wheel?
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Ah, that's right... I almost forgot! Quality and innovation is not welcome here. :)
Don't know who runs bitcoinwisdom, but that is some serious quality charting right there. Some collaboration might be better than reinventing the wheel?
Collaboration with innovative minds is a great idea imo.
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If you want a web based platform Trading View is quite interesting, all they need is a feed.
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If you want a web based platform Trading View is quite interesting, all they need is a feed.
They have used TradingView for BTSX here: https://cryptrader.com/charts/bter/btsx/btc
You're welcome.
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If you want a web based platform Trading View is quite interesting, all they need is a feed.
They have used TradingView for BTSX here: https://cryptrader.com/charts/bter/btsx/btc
You're welcome.
+5% +5% +5%
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If you want a web based platform Trading View is quite interesting, all they need is a feed.
They have used TradingView for BTSX here: https://cryptrader.com/charts/bter/btsx/btc (https://cryptrader.com/charts/bter/btsx/btc)
You're welcome.
That quite pleasing to the eyes. +5%
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Only caveat, this is BTER, not BTSX. But that should be easy to adapt.
They have used TradingView for BTSX here: https://cryptrader.com/charts/bter/btsx/btc
You're welcome.
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(http://i.imgur.com/1GI3VXN.png)
Buy side looks good on Bter.
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(http://i.imgur.com/1GI3VXN.png)
Buy side looks good on Bter.
Short term price is pretty irrelevant except for trading. BTSX today is somewhere between $45-75 million but the awareness is there and we've already seen $4 million 24hr volumes can arrive at the drop of a hat.
As soon as the market thinks the incentives for BitAssets are right, there's a robust wallet and a decentralised developer system/process behind it, then the $ billion dollar plus valuation will be there so quick it will blow your mind imo.
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(http://i.imgur.com/1GI3VXN.png)
Buy side looks good on Bter.
Short term price is pretty irrelevant except for trading. BTSX today is somewhere between $45-75 million but the awareness is there and we've already seen $4 million 24hr volumes can arrive at the drop of a hat.
As soon as the market thinks the incentives for BitAssets are right, there's a robust wallet and a decentralised developer system/process behind it, then the $ billion dollar plus valuation will be there so quick it will blow your mind imo.
Thank you Oasis. We need the GUI to be there.
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After playing around in it for the past week, I think the exchange GUI is great. There are issues with crashing and balance problems, etc -- all very bad PR but the GUI itself is fantastic. When 1.0 is released it'll be polished for sure.
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If you want a web based platform Trading View is quite interesting, all they need is a feed.
They have used TradingView for BTSX here: https://cryptrader.com/charts/bter/btsx/btc
You're welcome.
Very nice - thank you +5%