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Messages - mf-tzo

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1681
BitShares PTS / Re: Price
« on: March 03, 2014, 02:05:30 am »
Quote
Well I do not intend to offend you, but I think you need to learn more about investing and market reactions in supply/demand... we were all informed for several weeks there would be a snapshot taken on february 28th... so by setting such a deadline for the reward of BTS, there will be a natural increase in demand as people want to be apart of that, and naturally once the snapshot is taken, there is no longer a reason for them to hold on to PTS with this method of investing... so they immediately started selling off before demand dropped and prices as well dropped with it...

I believed that people would want to keep their PTS as this supposed to be an asset that will give you dividends in future DACs. It is not like I3 promissed something and didn't deliver, lied or did something wrong to affect the price so dramatically. This was like when Baidu stopped to accept BTCs or Gox bankrupted...I think that in a more liquid and mature market this wouldn't happen. In contrast, the demand for PTS should have increased since I3 who is behind did everything correctly. But this didn't happen. People are speculating too much all the time and this is no good.In the past investors would keep their stocks for 7 years. Nowdays, nobody keep their investment more than 7 months and in cryptocurrencies time is much much lesser.

Bitcoin millionaires are millionaires because they believed in Bitcoin and were not selling their BTCs. I though that this should have happened with PTS, but unfortunatelly I was wrong...

Other than that I agree with all your reasoning. Unfortunatelly I know nothing about mining and I definitelly have a lot to learn about cryptocurrencies. I am strangling to understand as much as possible but it is really difficult for an average investor with no much IT knowledge to follow up. You guys are able to see and analyse valuable data and information that most people can't. I will get there eventually...After all if you don't pay you don't learn...






1682
BitShares PTS / Re: Price
« on: March 03, 2014, 01:36:40 am »
I am also a long term holder but unfortunatelly I discovered Bitcoin only last summer and consequently I did not participate in the Bitcoin party, I have less funds to invest than most people in here...Consequently I am trying to increase my position by doing some more active trading and apparently after the snapshot that didn't go very well :(... If I had seen this drop I could have sold all my PTS and I would have bought twice much PTS today and therefore I would have been in a very nice position..Today I sold all my BTCs and any other alt coins I had just to get some more PTS...I still believe in my investment and I am confident that in the long term I will not lose. I believe that by investing in PTS I invest in brilliand minds who will change the future!

After reading more today, I saw that this price drop was expected. And therefore I take full responsibility of my actions. The communication in the forum was signaling that this would happen. However, since one can not read all the posts, it would be nice if some information about this was sent by an email to the existing emailing list. Especially the video about the future DACs explained in a very good way that  a significant price drop was expected and the reason for that.Unfortunatelly I saw the video a bit too late...

The main question now is how much more down will the PTS price go? What are your estimations? If the next release is next year and honors only 10% of PTS and 10% of AGS holders then am I wrong to assume that PTS price can go down to $1?
If the next release is within the next couple of months, I think it is fair to assume that this is the bottom and will soon pick up?

Again, what I writte here do not intend to offend anyone. I am just trying to have a better idea about all these as I am very newbie in cryptocurrencies and how the prices are moving...I don't want to be the only idiot keep buying PTS when everyone else is obviously selling...

Since this discussion talks about the price of PTS it would be nice to hear some estimations from the community and the developers. Where do you see the PTS price for example in 1,2,6,12,36 months?









1683
BitShares PTS / Re: BitShares-PTS 1.0 Release (2.18.2014)
« on: March 03, 2014, 12:24:44 am »
Thank you very much for your help!!

I think I am fine now. I have deleted everything again except my wallet.dat and it appears that when I open and close and reopen the application it works...It is still synchronising but hopeffuly once this is done I will see my transaction...I hope...

If something goes wrong I will let you guys know...

Again thank you very much!

1684
BitShares PTS / Re: BitShares-PTS 1.0 Release (2.18.2014)
« on: March 02, 2014, 11:40:39 pm »
thank you for the reply but my problem is that the BTS application don't run again and I get the message that another user posted earlier on about
assertion failed
....
File:db/version_set.cc
expression dummy versions_.next==dummy versions
....
(PJIT must be enabled) ...

Previously I have deleted evereything in the BTS folder and synchronized but now I don't want to delete anything again...I think there is another solution which I don't understand,...Even if I save my wallet. dat file and I delete everything and I re upload the wallet.dat again, i think I will experience the same issue.

I think I have to renmae something...
Please help..

1685
BitShares PTS / Re: BitShares-PTS 1.0 Release (2.18.2014)
« on: March 02, 2014, 11:26:36 pm »
I have downloaded the new BTS wallet. I run the application and I had the message to rebuild the block chain etc that was posted earlier by another user...

I have  deleted everything on the BTS folder and re run the application and it was synchronizing...

Before it fully synchronised I have sent som PTS from cryptsy.

Once fully synchronised my transaction still didn't appear, so I thought to restart the application, but I get again the same message about rebuild the block chain etc...


Can you please advise what I have to do?Please explain with simple dirrections as I am newbie to all these and I don't understand things very well. I read somewhere I think that I have to rename my conf file but I don't knowwhat the conf file is...

Thanks for your help...





1686
BitShares PTS / Re: Price
« on: March 02, 2014, 10:35:39 pm »
I don't want to complain about the huge price drop, since I am still a believer and support I3.

But... I am a long term investor and I am following from the beggining and I didn't see that happening...I thought that there would be some price stability in the price of PTS and not such a huge drop. If I3 knew that this was going to happen, for example if I3 sold PTS like crazy after the snapshot, I think that some advice or warning should have been sent to people who are following from the start in order to protect our shareholdings by selling also and then re-bying low now.

At this point I feel that even since I am here from the beggining I didn't make any profit and later investors coming in now have almost the same advantages as my self. Sure I will get XTS where others won't but with this drop in price I could have cashed some profits and then re-invest. Or do we expect the price to go even lower than that?

I believe that if I3 wants to keep the investors investing in them should send us some opinions, advices or signals of what they think is going to follow. An email like the nice reports that we receive from time to time would have been nice. Not everyone here read the reddit articles...

And I don't think that this would fall under inside information, but rather just an advice for the preservation of the purchase power of the initial investors. Every company sends reports to their clients and to their investors with opinions and advices. They ofcourse writte a disclaimer but they do send out warnings and reports. 

Anyway, I don't want to complain anymore..I should have known better and I should have probably foresee that this would happen...It is just ennoying and makes me think to be more carefull in the future. Every time that there is a new release and the snapshot is taken everyone is going to sell like crazy...This in my opinion creates an instability and uncertainty to people who want to be long term investors..

I appologise in advance if I offended anyone.This is not my intention.It is a free market and everyone is responsible for his actions!






1687
BitShares PTS / Re: Price
« on: March 02, 2014, 05:48:48 pm »
thank you very much! :)

Does anyone knows how many people in the world are currently trading Bitcoin and cryptocurrencies and how many people in the world know what PTS is?

1688
BitShares PTS / Re: Price
« on: March 02, 2014, 05:33:05 pm »
I am so happy the price went finally down... Sure I missed the oportunity to sell high and buy again low but at least now I can afford to buy some more PTS... People that really believe in I3 shouldn't care about prices going down...It will be for a short period. At least I hope that's the case or else my wife is going to divorce me... ::)

A couple of newbie questions now:

1) If I back up my PTS wallet and save it to an external disk, I assume that I can delete the wallet.dat and an attacker cannot have access to my PTS anymore and I can upload it in the future when Bitshares X is launched.Is this correct?

2) If I do (1) above if I understand correctly, when I delete my wallet.dat from my PC, when I will launch the QT client a new wallet will be created. If I purchase more PTS and send them in the new wallet that has been created and back up it again as above is it correct to assume that now I have two different wallets that I can upload and use in the future?

3) Since now the 28th snapshot is finished am I safe to do the above without any danger to claim my bitshares when launched?

4) By doing 1,2 above I am really protected from a malware software or not really?

Appologies for the very newbie questions above. I am just holding my PTS for the very long run and I don't want to wake up a morning and see that everything have dissapeared, so please advise if there is any other better way to protect my few PTS which hopeffuly will be very valuable in a couple of years..

Thank you very much!






1689
Keyhotee / Re: Alpha Keyhotee Bug Reporting in this thread.
« on: February 28, 2014, 09:58:12 pm »
ok... i was using 05.3 and i am on windows... (idiot..)

05.05 shows now correcly my points  :)..

I am still sending out messages to godscreation and phoenix and it goes to bytemyster. i have added coolspeed and it shows that it went to gods creation... should i delete all of the contacts and restart? is it a known bug that it will be fixed so i shouldn't bother sending out emails until new version?

Actually i am not sure who receives my emails since no one replied... :(
 

1690
Keyhotee / Re: Alpha Keyhotee Bug Reporting in this thread.
« on: February 26, 2014, 08:51:28 pm »
Hi,

I am using now the latest Kehottee version 05.3 and my status still appears unregistered.
In addition something strange is happening. I have sent an email with kehotee to Phoenix to Godscreation and it shows that it went to Phoenix. I have sent an email to Phoenix it shows that it went to bytemaster, I have sent an email to all three of them and no one replied... When I sent the emails I have send them by putting their names not their key as i have all three of them in my contact list, but the emails appear confused...

Any ideas? My status is still showing unregistered although Stan confirmed a long time ago that I am all set up. Am I still registered and I should't worry about it? Also can you please clarify by beeing a kehotee founder how many AGS i will receive with my points? Do I receive anything else or only AGS? When is the estimated release date?

Thank you very much for your help.

My kehotee key is: 6gxDKJFw7MsCuHeQwArCQhfD6MnkHW9D7hfrUUeuFHos6oHSiL

1691
Markus, you understand correctly about LCH. You have to cover your margin call the next morning for cob the previous day otherwise you get liquidated your position (of course you can have a credit line to avoid liquidation). The reason for this is because the index (and I am talking i.e specifically for the Dry Bulk indexes in Baltic exchange) is settled every day late in the afternoon where banks are closed in Europe. I guess that this doesn't apply here.

I guess in the future you might do the same with the BPI index (coindesk) which gives you the settlement price of Bitcoin. However this should be acceptable for all the bitcoin users and I don't think this is the case now. Until the bitcoin market matures and becomes more liquid this might cause problems. If settlement was based on Coindesk's BPI I expect a lot of arbitrage would take place among the different exchanges. And when there is arbitrage and the law of one price doesn't apply there is no efficient market.

1692
Hi,

To be completely honest I haven't understand completely Bitshares X, BitUSD etc...I believe in all I3 projects and in everything you guys are trying to do so I thought I could give below an example from my experience that might be able to solve some market manupulation issues and properly cover margin calls...You can if you wish so apply the below in what you are trying to do.

I will describe  LCH (London Clearing House). LCH is a clearing house that traders use as counterpary (in our case Bitshares X) in order to trade various derivatives. What LCH does as clearing house is to get all the orders and match them. Settlement is done on a daily basis and LCH requires an initial margin (collateral) for all the short trades in order to cover potential volatility risks and counterparties defaults. I believe that the concept of initial margin should be applied in Bitshares X. Depending on the future expiry date,the type of contract, the type of market, market volatility etc. a multiplier factor is applied on amount of contract.

Below is their website for further reading. Have a look if you wish under risk management sections
http://www.lchclearnet.com/risk_management/
http://www.lchclearnet.com/freight/ffas/

As an example let's make the below assumptions.

1 contact = 1 BTC
DAY 1 BTC = $1,000
No expiry date
I am selling 1 contract

How settlement is done:
 
Day 1:

Opening balance: $0
Future value: $0
Initial Margin: -$200
Closed Balance: -$200 (margin call). I have to pay the initial margin

Day 2: (Lets assume 1 BTC = $1,100)

Opening Balance: $200 (I paid the initial margin)
Future value: -$100 (since I am short @ $1,000 and the price is $1,100)
Initial margin: -$200
Closed balance: -$100 (margin call)

Day 3 (Lets's assume 1 BTC = 600)

Opening balance: $300
Future value: $400
Initial margin: -$200
Closed balance: $500

If I decide to close my position I should get back $500 + $200 ( initial margin collateral) = $700. Since I have paid in total $300 in margin calls I made a profit of $400 ($1,000 original contract - $600 contract at expiry)

With this way Bitshares X will be secure from market manupulations (since they can apply high initial margin requirements per short contract. The amount to be charged should not change every day but rather you need to find a model that applies margin requirements for at least a month. When trading "options contracts"  this model gets much more complicated. LCH in order to calculate the initial margin requirements runs 16 different scenarios on the parameters associated with the open contracts of each trader. LCH calculates margin requirements using an application called London Span. You can download it from their website and play around the different markets. (If you do try it, when entering an option contract with strike $10,000 you should enter $100,000) for the collateral calculation to be correct.

Bitshares X must become LCH for cryptocurrencies. At least this is how I understand it, correct me if I am wrong. Before the financial crisis companies used to trade OTC between them. Now they all trade using clearing houses. Bitshares X must apply a fair initial margin requirement depending on the product and market. The calculation should be clear to understand how it is calculated from anyone and should be kept by Bitsares X as collateral if someone defaults. Bitshares X should be our counterpary exposure. At least this is how I have understood and imagined the future of Bitshares X.

I hope I helped. Most probably not as you already know these things but I thought to share just in case...

If you want to know more how LCH calculates collateral requirements and I can help more, please let me know.

If I helped and want to tip I would be greatfull. Unfortunately I have a very small stake in PTS - AGS and I am trying to increase my shareholding.

My PTS address:Pc1Xpa12JgbFPAZS9qLdHMkEsnqzXWpdbQ
Kehotee Key: 6gxDKJFw7MsCuHeQwArCQhfD6MnkHW9D7hfrUUeuFHos6oHSiL

P.S. I hope that my Kehotee is valid (I see it still as unregistered yellow although I have submitted the form on the site long time ago). It would be also nice if someone started a communication with Kehottee with me as I feel I have purchased a software that I am not using...  :(


















   

1693
BitShares AGS / Re: help with AGS donation
« on: January 18, 2014, 08:17:46 pm »
Great! Everything is very clear now! Thank you all very much!!!

1694
BitShares AGS / Re: help with AGS donation
« on: January 18, 2014, 06:35:14 pm »
Thank you for your reply but I still  don't understand...

How can I generate this hidden adress of my wallet that the AGS were credited? This adress will have all the amount of AGS once they will fork AGS. Correct? How can I obtain the private key to spend these AGS in the future? What happens if i donate some PTS for AGS and I forget to writte down the PTS adress that I have donated? How will I claim the AGS?

All these are very exciting but very confusing...  :(
I need some more details please...

Thank you very much again!

1695
BitShares AGS / help with AGS donation
« on: January 18, 2014, 01:27:58 pm »
Hi,

Again apologies for my ignorance and the below but please advise....

I have donated some PTS for AGS. I found my donation that day but part of my donation was from one of my PTS adresses and the biggest part was from another PTS adress that I can't see it in my QT wallet as one I have generated before.  I think I have read somewhere in the past  that AGS will be credited on the adress of the biggest donation.

Therefore:

1. How do I find the private key of that adress and how do I check how many AGS i received?

2. Where do I receive AGS? As far as I know there is no QT wallet for AGS or there is one?

3. How do I send AGS to someone else?

4. Anyhting else you can advise in order to better understand the transfers and use of AGS.

Thank you very much in advance for your help. As you can understand I have limited knowledge of the technicalities but I am a believer who needs some guidance...






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