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Messages - Ander

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General Discussion / Re: Bitshares price discussion
« on: March 15, 2016, 08:57:58 pm »
BTS just shot up, this is what happens when you hold 1400 and make a higher low. :)

General Discussion / Re: Bitshares price discussion
« on: March 15, 2016, 12:46:35 am »
Hopefully that buywall is real, and will not be pulled.  If so, very nice, we should hold 1400.

General Discussion / Re: Bitshares price discussion
« on: March 14, 2016, 09:36:26 pm »
Heading up again I think.  Seeing Bitshares mentioned and described (well), in an article by Mircosoft was nice.

BTS has always had a history of large spikes.  It spikes hard up or down.  You have to expect this.  We went from like 1200 to 2300 in a couple days and then retraced most of it.  Thats the way BTS moves I guess.  Just hodl, take partial profits on rises and buy drops, and dont margin it.

General Discussion / Re: Augur REP IOU is available on BitShares
« on: March 14, 2016, 09:29:58 pm »
Very nice!

General Discussion / Re: Bitshares price discussion
« on: March 14, 2016, 09:29:26 pm »
The drop is annoying yeah, but as long as we make a higher floor its still progress.  Currently we are still higher than before the pump started, just have to hold around the 1400 level and its all good.

General Discussion / Re: Bitshares price discussion
« on: March 14, 2016, 07:18:03 pm »
Based on the BTS action, I get the feeling some idiots margin longed it on a rise again.  Hope it wasnt any of you guys.

General Discussion / Re: Ethereum price discussion
« on: March 14, 2016, 07:05:46 pm »
ETH tanks hard, causing BTS to tank hard.

ETH goes back up, BTS doesnt.


Yes, we would all like to see more BTS trading inside the DEX.  It generates fees for the network.  It is the real use of the token.  This represents actual use of BTS (not just speculators buying, selling, or hodling BTS).

Yes we want more people to move BTS into their wallet, and use it to trade on the DEX.

However, sometimes I get the impression that some people want 100% of the volume of BTS to be internal to the dex, with no trade between BTS and BTC/CNY/USD happening on poloniex or btc38 or other exchanges.  But that would cause a big problem!

BTS' internal market mechnisms rely on witnesses to provide price feeds to the blockchain, telling it the price of BTS relative to that of smartcoins.  The blockchain needs to know how many BTS a USD is worth, how many BTS an ounce of gold is worth, and so on.  It needs to do this so that it can enforce margin calls on the smartcoins, so that the peg remains in place.  Without the price feeds, the system doesnt work. 

The value of the price feed relies on the price of BTS on poloniex, btc38, etc.  If those trading markets are too thin, it allows huge spikes in the price of BTS, which then results in too much volatility in the price feeds, which then results in margin calls and the internal DEX not working.

Therefore two things are needed:
1) We need solid volume on external exchanges (polo/btc38), to provide a good price feed, and keep voluatility low enough that we dont have extreme black swans.

2) We need solid volume on the internal DEX, representing real use of BTS.

Both of these are beneficial to BTS.

Obviously we are doing better so far in terms of BTS volume on external exchanges, so getting more volume on the BTS DEX would be good right now.  But we should always keep in mind that our gateway from the BTS world to the outside world is also important!

General Discussion / Re: Bitshares price discussion
« on: March 11, 2016, 06:11:16 pm »
The bts weekly chart has finally given a moving average buy signal for the first time in 18 months.  It looks like the bear could be over.

General Discussion / Re: Imagine that...
« on: March 11, 2016, 05:39:28 pm »
Use of the dex spiked again, with number of orders placed hitting a new high.

Its growing guys.  Maybe not as fast as we wanted, but growing.

A rising BTS price over time will also encourage use because shorting bitassets into existence will actually make money and get rewarded. 

Also, people who are trying to use BTS will not be discouraged by the price crashing.

General Discussion / Re: Bitshares price discussion
« on: March 11, 2016, 05:29:27 pm »
When polo went above 2000 it became way ahead of btc38.  The 'dumping' could easily have just been arbitraging.

Now btc38 has caught up again.

The pattern looks like an ascending triangle and it looks bullish.  Same pattern that ETH and XMR repeated multiple times in their rises.

I don't think our DEX is not user friendly as it is. I think it is quite easy to use and this is coming from a person whose IT skills are like a 10 year's old..but anyway..

Unfortunately I disagree. I used it for the first time in a while recently and it was displeasing to put it nicely. The # of xxx.BTC's was confusing as hell. I thought the OPEN.ETH/BTC market was with OPEN.BTC and the OPEN was just left off for some reason. So I got screwed over swapping METAEX.BTC to OPEN.BTC only to find out there was another one that's just BTC (not to mention another one called OPENBTC with no period) and it can only be purchased on the DEX with BTS at an outrageously high price. Trying to sell was frustrating as well, but I won't get into that as I'm sure with more experience using it will solve the issues I experienced. But I'm not a first time user of the DEX and frankly I probably won't be using it again or at least it will not be my first, second or third choice. It was just a bad experience all around, I hate to say it, but frankly I'm really disappointed and think it needs to be said, no offense, just keeping it real. I like to get in/out, not have to investigate where a certain asset pair is, hunt it down, hope I have the right ones, find out I don't and lose money in the process. It needs some serious work and a facelift big time. I was really expecting a lot better experience and left feeling like I got scammed by misleading pairs. I was only dealing with small change here because there's no way I'd put any real amount of money on there out of fear I'd get screwed again making a mistake with xxx.BTC or thinking an order went through only to find out later it didn't. Sorry to be a "Negative Nancy". I know saying anything other than "great job!" does not go over well here. =/

Yep.  The DEX needs to make itself look exactly like Poloniex.  Imitate whats working or die.

General Discussion / Re: bitshares locked in bter?
« on: March 11, 2016, 12:30:45 am »
Theyve been locked for 6 months.  Bter often traded at a 30-50% discount as a result.

General Discussion / Re: Bitshares price discussion
« on: March 10, 2016, 10:11:30 pm »
Always some idiot whale who doesnt realize he can easily sell the bts slowly over time at 2000+, he has to market dump to 1600 to try to kill bts while he gets out with less money.

General Discussion / Re: Bitshares price discussion
« on: March 10, 2016, 09:38:11 pm »
Whats with these shorts that borrow my bts at 1400 and still dont cover at +50%.  What are they thinking?  Lunatics.

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