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Messages - nomoreheroes7

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706
General Discussion / Re: BTSX is showing itself stronger than Bitcoin
« on: September 24, 2014, 12:40:52 am »
Quote from: OldMan on September 23, 2014, 09:44:20 pm
Interesting selling pressure as BTC rallies - perhaps folks moving from BTSX to BTC.

I wonder why they're not buying bitBTC?

Actually, there hasn't been much sell pressure at all. It's more important to watch the price movements on btc38 vs the CNY, as that's where 75% of the volume is. And against CNY Bitshares has actually risen today, from the upper .18's to the mid .195's. The problem is with rising BTC price, the BTC price of Bitshares will appear to go down, when in actuality the market cap is rising....

707
General Discussion / Re: NuBits
« on: September 23, 2014, 08:24:13 pm »
Quote from: shadowbroker2 on September 23, 2014, 08:14:04 pm
Quote from: mf-tzo on September 23, 2014, 07:53:32 pm
Who on earth from the outside world will ever in something called "Nushares"? BitsharesX on the contrary is very catchy... Just my 2bts anyway...

Oh please. You know what my Everquest name was when I was 13? shadowbladex. That's what I think of when I hear BTSX.

If anything they're both equal. Plus I've definitely seen people confused about the whole Bitshares thing in general.

This raises a good point. BitShares is catchy and easy to understand/remember, but BitSharesX makes it sound "extreme", almost immature. Personally I feel that since BitSharesX is more-or-less the "mother DAC" of the entire ecosystem, it would be cool to just drop the X entirely. DACs would still be DACs of BitShares, and people wouldn't be making a mountain out of a molehill trying to figure out "what the hell's the difference between BitShares and BitSharesX???" I imagine this may cause some conflict with the whole BitShares chains vs BitSharesX chains thing going on, but for simplicity sake I think it would be awesome just to refer to everything as "BitShares".

...Not to mention the added confusion of having Bitshares-PTS. Feels like something needs to be done to better differentiate this stuff, but I don't necessarily know what.

708
General Discussion / Re: NuBits
« on: September 23, 2014, 07:50:24 pm »
Quote from: bytemaster on September 23, 2014, 07:41:43 pm
From what I can tell they use voting to set interest rates...

They are also thinking of being closed source because they are worried we might copy them (due to my comments on this thread). 

Do you really think their implementation is copy-worthy? From what I've gathered so far it doesn't seem to have much of anything over BitShares yet...

709
General Discussion / Re: lets get bitUSD on coinmarketcap.com
« on: September 23, 2014, 12:29:55 pm »
Gotta love the price of BitUSD -- $1.01. But yea, a chart to track the stability of the peg to the dollar is definitely needed.

710
General Discussion / Re: short / medium term price speculation for BTSX
« on: September 23, 2014, 12:25:36 pm »
Quote from: donkeypong on September 22, 2014, 06:52:44 pm
Quote from: nomoreheroes7 on September 22, 2014, 04:37:49 pm
I think it could go either way. BTC on a downtrend could mean that it's time for 2.0 alts to step up to the plate. However, BTC on a downtrend also signals that money is leaving the crypto-ecosystem and investors are losing confidence in cryptos, harming all coins. In the near term for BTSX I'm predicting the price will stay relatively flat while BTC finds its footing again. Some big new news will need to come to give us another leg up toward overtaking litecoin (e.g., new trading software, new announcement, etc). Without that, I can't see BTSX making another surge upward in the near future, especially in this time of shaky BTC price.

I gather you haven't listened to this one then? It suggests that much more is on the way for BTSX.

https://soundcloud.com/beyond-bitcoin-hangouts/brian-page-8-27-2014


Actually, I did listen to the whole thing and was mesmerized by the possibilities lol. I seem to keep forgetting about it...also, my track record with predicting which way prices will go has been terrible, so hell yea I'd love to be proven wrong this time!  :D

711
General Discussion / Re: Patrick Byrne - Bitcoin Conference Announcements
« on: September 22, 2014, 08:26:58 pm »
Quote from: toast on September 22, 2014, 08:22:07 pm
Peershares has done a good job explaining that it is a foundation for custom blockchain solutions, while bitshares is still synonymous with btsx for most of the world

Sent from my SCH-I535 using Tapatalk

Hmm...I guess I've never heard PeerShares make these claims (I didn't think it had even launched yet until tomorrow [?]). But BitShares has a custom blockchain solution in the form of the DAC toolkit...right?

712
General Discussion / Re: Patrick Byrne - Bitcoin Conference Announcements
« on: September 22, 2014, 08:20:17 pm »
Quote from: arhag on September 22, 2014, 08:10:01 pm
I wish. Unfortunately, if Dan signed an NDA he would most likely just not comment rather than lie to the community. Now I am hoping the announcement has nothing to do with cryptostocks.

I'm not too sure about that, it might seem more suspicious if he were to outright dodge the question. Also, perhaps Patrick is considering BitShares; would he even need to sign an agreement with Dan to make this decision? I don't know, maybe I'm grasping at straws here lol.

Quote from: arhag on September 22, 2014, 08:10:01 pm
Bytemaster and Patrick Byrne have sat in a room and talked it out one-to-one right?? If after that, he at this point in time commits to any technology other than the BitShares toolkit for implementing cryptostocks, then I just... I have no words.

As a side thought -- if BitShares were to issue cryptosecurities in the near future, what avenue would be used (BitSharesX, BitSharesME, some other DAC)?

Quote from: bitsharesrussia on September 22, 2014, 08:17:50 pm
Quote from: toast on September 22, 2014, 07:31:10 pm
$10 says they're gonna use peershares

Sent from my SCH-I535 using Tapatalk

 +5%  :'(

Any reason in particular you guys think PeerShares would be a better fit for the job?

713
General Discussion / Re: Patrick Byrne - Bitcoin Conference Announcements
« on: September 22, 2014, 07:11:11 pm »
Quote from: oco101 on September 22, 2014, 07:10:05 pm
You right it would be fun except :

Quote from: bytemaster on September 22, 2014, 06:09:54 pm
I know nothing about this.

Or that's what he wants us to think  ;D

...yes, it's a stretch, but damnit an investor can dream, right??

714
General Discussion / Re: Patrick Byrne - Bitcoin Conference Announcements
« on: September 22, 2014, 07:07:47 pm »
Quote from: bitcoinba on September 22, 2014, 07:01:10 pm
Seems like Counterparty has the advantage already: http://www.wired.com/2014/07/overstock-and-cryptocurrency/

Nah, that was just how that particular article was framed. From what I've heard Overstock had been in talks with NXT before that, and I believe BitShares has had talks with them as well (not sure how in depth, though).

Personally, I feel the timing may be right, what with Bitshares holding the #4 spot firm and the ridiculous advantages Bitshares has in this space (esp. the name alone, which I will forever believe is Bitshares' #1 marketing tool and leg-up over the competition). Also, the coincidence that both Dan and Patrick are 2 of the 4 keynote speakers at this event...sounds like a match made in heaven to me!

715
General Discussion / Re: Patrick Byrne - Bitcoin Conference Announcements
« on: September 22, 2014, 06:04:56 pm »
Hmmm...hmm indeed. Could it be...? Nah...but...maybe?

One can hope.

716
General Discussion / Re: short / medium term price speculation for BTSX
« on: September 22, 2014, 04:37:49 pm »
I think it could go either way. BTC on a downtrend could mean that it's time for 2.0 alts to step up to the plate. However, BTC on a downtrend also signals that money is leaving the crypto-ecosystem and investors are losing confidence in cryptos, harming all coins. In the near term for BTSX I'm predicting the price will stay relatively flat while BTC finds its footing again. Some big new news will need to come to give us another leg up toward overtaking litecoin (e.g., new trading software, new announcement, etc). Without that, I can't see BTSX making another surge upward in the near future, especially in this time of shaky BTC price.

717
General Discussion / Re: Newbie Shorting Questions
« on: September 21, 2014, 06:29:43 pm »
Quote from: tonyk on September 21, 2014, 06:13:44 pm
btw do not forget the Big assumption that the price is not moving... if it does you can loose the whole collateral

Hmm...I guess I'm not positive what this means. If BitUSD price goes up, you get margin called, if it goes down, you cover with a gain. How would you lose the whole collateral?

718
General Discussion / Re: Newbie Shorting Questions
« on: September 21, 2014, 06:07:04 pm »
Quote from: tonyk on September 21, 2014, 06:03:01 pm
Quote from: nomoreheroes7 on September 21, 2014, 05:46:58 pm
Okay, final scenario using simple numbers as an example. Say I want to determine my maximum risk of loss in case a margin call is triggered. From my calculations below, it appears that the maximum loss is only 16.66% before you get margin called, but I feel like there must be something wrong with my numbers. Can anyone point me in the right direction? Also, what would be so risky about shorting say 49% of your wallet balance (thus having the remaining 49% tied up as collateral)? If you get margin called, wouldn't the collateral go towards paying the difference, and thus you wouldn't have a need to hold additional BTSX beyond that (the "s" variable in arhag's math)? I feel like I'm still missing something fundamental here...

p1 = 30 BTSX/BitUSD
p2 = 0.1 BTSX/BitUSD
x = 100 BitUSD
m = 3,000 BTSX
wallet = 6,005 BTSX

p1  *     x     +      m     = collateral (c)
30  *   100   +   3,000   = 6,000 BTSX tied up as collateral

(p1  -  p2)     *       x         +        c           = BTSX in possession after covering
(30 – 0.1)      *     100       +     6,000       = 8,990 BTSX in possession, gain of 2,990 BTSX (49.8% gain, close to max theoretical gain of 50%)
(30 – 40 )      *     100       +     6,000       = 5,000 BTSX in possession, loss of 1,000 BTSX (16.66% loss)

max
(((30 – 45*1.1 )      *     100 )     +     6,000)*0.95       = ...

Okay, I see the 30, 100, & 6,000...I imagine the 0.95 is including the 5% margin call fee. But where does the "45*1.1" come into play? Isn't the margin call price p1 * 1.33? That's the margin price for any shorts I've executed so far...

719
General Discussion / Re: Newbie Shorting Questions
« on: September 21, 2014, 05:46:58 pm »
Okay, final scenario using simple numbers as an example. Say I want to determine my maximum risk of loss in case a margin call is triggered. From my calculations below, it appears that the maximum loss is only 16.66% before you get margin called, but I feel like there must be something wrong with my numbers. Can anyone point me in the right direction? Also, what would be so risky about shorting say 49% of your wallet balance (thus having the remaining 49% tied up as collateral)? If you get margin called, wouldn't the collateral go towards paying the difference, and thus you wouldn't have a need to hold additional BTSX beyond that (the "s" variable in arhag's math)? I feel like I'm still missing something fundamental here...

p1 = 30 BTSX/BitUSD
p2 = 0.1 BTSX/BitUSD
x = 100 BitUSD
m = 3,000 BTSX
wallet = 6,005 BTSX

p1  *     x     +      m     = collateral (c)
30  *   100   +   3,000   = 6,000 BTSX tied up as collateral

(p1  -  p2)     *       x         +        c           = BTSX in possession after covering
(30 – 0.1)      *     100       +     6,000       = 8,990 BTSX in possession, gain of 2,990 BTSX (49.8% gain, close to max theoretical gain of 50%)
(30 – 40 )      *     100       +     6,000       = 5,000 BTSX in possession, loss of 1,000 BTSX (16.66% loss)

720
General Discussion / Re: NuBits
« on: September 20, 2014, 09:19:27 pm »
Quote from: cryptkeeper on September 20, 2014, 06:56:32 pm
could nubits be a threat? they seem to be climbing up steady lately.

Lol, it's nothing but a huge pump and dump right now. The price is being manipulated 100%, and no one really knows what nubits could bring to the table. As that is the case, it could very well be a threat, but the current price technically has nothing to do with the tech and everything to do with hype.

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