16
General Discussion / Re: Here's what you need to do..
« on: August 29, 2014, 05:52:43 am »
I feel much better now seeing this post
This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.
There is no incentive to buy BitUSD. If you think the price of BTSX is going to go down you are better off selling into BTC or real USD.
Here is what I think will happen:
People are using shorts to bet big that BTSX will go up in price. They are idiots, because by doing so they are breaking the market peg (or at least making it very innacurate). As a result of this the price of BTSX will innevitably go down, because it appears to outside observers that it isn't working very well, and BitAssets are pretty much the whole story in terms of getting new people interested at in Bitshares at the moment. The shorts will eventually get that the price of BTSX is in decline, or the system will force their hand with margin calls. BitUSD will reach parity with USD, and stupid bulls will take this as a reason to bet big again and break it again.
This will keep happening over and over, and the price of BTSX will keep going down, until all the stupid people have lost all their money. That could take a very long time.
Looks like a 20% correction. Yay.looks more like a 35% atm
Oh yhea ..
http://www.reddit.com/r/BitShares/comments/2dfcv7/bitsharesx_to_pass_peercoin_in_marketcap/
This isn't exactly good news. Money is leaving the ecosystem as a whole and adoption rate has slowed. Bitcoin prices are down despite good news and infrastructure development.
In my opinion not enough effort has gone into promoting mainstream adoption. How are we supposed to reach the people who aren't crypto-anarchists, anarcho-capitalists, or anarchists at all?
They are looking for return on investment, to make money, to invest, to get rich, or there is something they've always wanted to do but could never do before until now.
I am starting to see wisdom in the infomercial strategy. Apple invented the first personal computer and had to rely on infomercials. The people who were supposed to buy the computer didn't know what a computer was yet and it's the same situation with us.
Most people don't know what Bitcoin is or why they need it.