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Messages - nomoreheroes7

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General Discussion / Re: Newbie Shorting Questions
« on: September 20, 2014, 12:50:57 am »
If you cover and re short you can compound your gains.  In theory you should do this as often as possible.

Wow bm, I never would've thought of that! So it's like buying low and selling high...only in reverse: shorting high then covering low, right? That's pretty awesome.

Arhag: I appreciate the math lesson, but I'll be damned if I understand a word you're saying lol. Appreciate the input; hopefully it helps others who are more math inclined.

Thanks all for your input! But I'm still curious what would happen if I were to try shorting my entire wallet balance...the order goes to market, but there wouldn't be enough collateral to support it...would the order just not place or something?

General Discussion / Re: Newbie Shorting Questions
« on: September 19, 2014, 06:45:44 pm »
I think I'm starting to understand a bit in that case, the best you can really do is increase your BTSX holding by close to 50%? The part that's really confusing me is the double amount needed as collateral. If I were to short with say 2495 worth of BTSX in the original example, when the short is sold does that mean the other 2495 I'm still holding will immediately get locked as collateral? And if that's the case, what if I put a short order worth 4,995 instead? Where would the extra collateral come from? I've tried making a high short order with my entire wallet balance, and it seems to go to market ok. Sorry if I'm making any of this harder than it should be...

General Discussion / Newbie Shorting Questions
« on: September 19, 2014, 06:03:19 pm »
Hi all,

When shorting, am I right in thinking that theoretically the best you can do is come close to doubling your BTSX? Say I have 5,000 BTSX and short all of it at a given price (say 30 BTSX/BitUSD, so a short of $166.66 BitUSD), and BTSX someday soars to $10 per BTSX (0.1 BTSX/USD), would I then be able to cover with only 16.66 BTSX, netting me 5,000 BTSX held as collateral + 4,983.34 BTSX released from the short = 9,983.34 BTSX?

Also, I think I'm getting confused by the collateral part -- if I have 5,000 BTSX, can I short this full amount, or can I only short half of it because the other half is needed to cover collateral?

Appreciate any input.

General Discussion / Re: Food For Thought
« on: September 19, 2014, 09:48:34 am »
I agree this is very important. I've already had an issue with being margin called during a flash buy of BitCNY, when the actual price of BTSX/CNY on the exchanges never came close to that price.

General Discussion / Re: NuBits
« on: September 18, 2014, 01:46:54 pm »
We will make the trading bot open source at the same time we release full project details to the public so there won't be any mystery about how it functions.
- Jordan Lee

Sounds similar to something Dan has recently talked about in one of the hangouts.

It's been known for a while that bots can automate the process of maintaining pegs. Dan in his original whitepaper had automation as a core axiom. I don't know why more focus isn't on automation but I suppose there are more fundamental concerns.

Do you mean to say that Bitshares is planning on possibly implementing a bot to maintain the peg as well? That could be seen as trying to copy Nubits' technique at this point in the game...

General Discussion / Re: NuBits
« on: September 18, 2014, 10:21:48 am »
Lol I hate the "pump wait" time going on here...I want to know what the hell it is already!! And if it can actually compete with Bitshares...that quote you provided sounds a bit odd to me. What is it telling us??

General Discussion / Re: BTSX Price Getting Spanked by CNY
« on: September 17, 2014, 04:15:23 pm »
Would it help if I launched a market_maker bot at bitCNY:BTSX? The stock bot is designed to help the peg

I'm not sure how that works exactly, but that'd be awesome. Looking at the charts, the problem is the lack of people willing to sell/short BitCNY apparently. There are huge gaps in between the prices of 5.66, then 6.2, then 8.0, then 20.0 BTSX/CNY lol. Just one person panic buying above the peg at 6.2 or something would cause all my margin calls to trigger, which doesn't really seem fair.

General Discussion / Re: BTSX Price Getting Spanked by CNY
« on: September 17, 2014, 04:01:08 pm »
Well that sucks, just now someone panic bought BitCNY up to a price of 0.176 CNY per BTSX, causing me to get margin called. Sucks because the price on BTC38 never went below 0.189, and is now back up to around 0.192 or so. Wish there were some kind of mechanism in place to keep the peg tighter to actual price...lame.

OldMan, I agree that BTSX is a long term investment. Still sucks that I can't get proper shorts in for the future though lol.

General Discussion / BTSX Price Getting Spanked by CNY
« on: September 17, 2014, 02:30:32 pm »
I'm watching the BTC38 exchange for BTSX/CNY, and it's looking kind of rough. Buy support looks to be minimal, while huge walls are forming from 0.2 CNY and downward. I've seen a few walls over nearly 900,000 BTSX appearing at 0.2 and below. Is this correlated with the recent drop in BTC? People becoming impatient over lack of exciting BTSX news recently? Will we continue the downtrend below 0.18 and cause me to get margin called? Is it a concern that over 80% of our volume is directly from CNY as opposed to BTC? Am I being overly concerned with the moment-to-moment price and need to get back to work (lol)? This feels like a pivotal make-or-break moment for crypto right now...


I can't for the life of me figure out what the hell NuBits is supposed to be. All they say is that it "solves the volatility problem" and has something to do with peershares. Sounds an awful lot like Bitshares to me, but with their vague wording who knows what it could actually be.

General Discussion / Re: Lets see if it bounces.
« on: September 16, 2014, 02:12:08 am »
I'm still saying that the graph looks an awful lot like this:

If I had a larimer for every time I've seen that ridiculous chart...this is the same chart thrown at Bitcoin every time the price rises or falls. In that case, I'd say we're doing pretty damn good...

Also, your posts here in general are always anti-bitshares/pro-nxt with little room for open discussion. Try to be the least bit open minded/unbiased.

General Discussion / Re: Is Anyone Still Holding Bitcoin?
« on: September 12, 2014, 02:39:52 pm »
Yes, this. BTSX is still a high-risk investment.

It is true that many wealthy investors became that way by betting big and winning big.

But you will find that the wealthiest investors always, always hedge.

There will be at least one more big BTC pump; Wall Street and private capital won't pass up the opportunity. OpenBazaar may also have a substantial impact on market cap.

So perhaps it is wise to hold a percentage of the crypto portfolio in BTC through BTSX's infancy.

If the stars align, BTC will add a zero or two just in time for BTSX to find its legs.

Once BTSX is more stable/resilient/liquid profits from BTC can be secured in BTSX or other bitAssets.

Should BTSX fail for some unforeseen reason at least the investor has some crypto-holdings to fall back on.

My $.02 bitUSD.

I'd much rather just stay all in BTSX. It's practically a given that as BTC price increases other popular alts will follow. And even if the alts stay the same price (in satoshis), you can still cash out into the same number of BTC that are now worth more. Go big or go home; BTSX all the way for me  :D

General Discussion / Re: BTSX Valuation based upon standard P/E ratio of 20.
« on: September 12, 2014, 02:31:21 pm »
A 200x increase would put the BTSX market cap at $16,000,000,000 USD. I don't see that happening all in one bubble cycle. I'll be happy with a 5x increase over the next year or so.

BitShares is currently trading at over 5x its value of just one month ago...things move fast when something truly revolutionary is afoot. I personally believe we'll all be caught off guard at how quickly things explode if BitYield works as planned and an impressive trading software suite rolls out. The potential here is absolutely monumentally enormous...can't wait.  8)

When Bitshares is $1 billion market cap.  Everyone will begin to know its power and then boom $20 billion marketcap.

That seems like a stretch.. but true or not, short term BTSX isn't there yet.  Look at how much more Nxt is capable of and it has a larger community, point being, BTSX is currently overvalued.  That's not to say long term it's not a great investment but in a month or two it'll be a better one.  I've about to sell what little I bought about a week ago, maybe I'll sell tomorrow or the next day, anticipating this second peak and plan to buy back in a month or two.

I'm not trying to manipulate prices this is just how I see it and in a few weeks, odds are I'll be proven right. It's a lot easier to see if you aren't emotionally attached to the coin the way that most people in this forum are, I'm still very much newly interested in BTSX.

Hey ****who, go sell some BTSX, cause while posting your curve got in significant trouble...
The ask is at 0.00009898...

Don't say I didn't warn you!

Note I stated that it would take a couple more days.. and I might be wrong it might be another week or two of up, no way to know.

Hmmm...nah still bullish bitshares. The name alone is 1000x better than nxt.  Same with "CoinoUSD". The terrible branding alone will be nxt's downfall. And there's nothing to indicate the current prices are a bubble; I see nothing but excitement to invest in the next big thing. And what a BIG thing Bitshares is...

General Discussion / Official Hype Thread
« on: September 08, 2014, 07:55:52 pm »
A concept as revolutionary as BitShares deserves some hype. I for one am expecting it to overtake Bitcoin before the end of 2015 and Bytemaster to become president of the new world order made possible via DPOS technology. All unrealistic hopes, prayers, and seizure-inducing gifs are welcome here.


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