Another day, another 2000 BTSX taken away from traders and into the hands of a long term bull.   

I'm up 10k shares this week trading with part of my position.

Poll voters are currently wrong.


A rising bitcoin is like a rising stock market - it is good for all stocks.  In this case, stocks are altcoins. 

Its a lot easier for Bitshares to go up 10x if bitcoin doubles, than if it goes down. 

Anyone ask Poloniex and bittrex about honoring?

Send your shares to btc38 or bter imo. 

Bter has announcements in the pages for the shares stating they will honor the snapshot and when it is occurring.  Its very nice.

@Cosscrypto I want to become a day trader and quit my job. I am a small fish with a long vision about bitshares so I need to find out how to properly read these graphs in order to increase my stake. Because so far I just buy high and rarely sell anything...It would be really nice if you post here, among with other active traders graphs and your views.People might chose to ignore you or follow you..

The first thing you should realize is that when you start out, you will lose, because you are just less experienced than the other players.

Therefore, you should probably only trade with a very small amount of money.  Also, avoid trading something that you "truly believe in for the long term", at least while starting. 

Go trade some altcoin that you dont care about at all, with a tiny amount of money.  Keep doing that for a long time.   Only if you eventually build that money up into something much more, should you switch to trading with more money.

Peter Lynch, hehe, nice one.  And I am actually Satoshi and I will soon dump my bitcoins for bitshares.

My take:


The dev team came away with the understanding that they have a strong need for two things:

1) The ability to raise more funds in order to launch a strong marketing campaign, in order to win and become huge.  (Need to have the potential to issue more shares)

2) The need to make the company a fully distributed company that cannot be attacked.  That is, right now I3 can come under attack from government or other entities.  However, if they are able to discard that shell and just run Bitshares as a distributed company, it is safe from attack.  That means that Bitshares needs to be able to hire employees and pay salaries to them!  Thus the need for the functionality of paid delegates! 



The final result: 
A Bitshares distributed corporation which hires employees through majority vote of shareholders, which pays them in shares of BTS at a rate approved by vote of shareholders.  A distributed corporation that is safe from outside attacks and can continue to run no matter what.  A Bitshares that has the capacity to fund itself through majority shareholder vote to launch marketing campaigns and do what it takes to win and become the #1 crypto.

I3 need to hire a CEO,
To manage III,
To plan the development of the company and promote market.
AS investors,we can have more confidence.
Anyone think so?

You missed the memo.

Bitshares is changing the very nature of corporations.

Bitshares will be an autonomous corporation that hires employees by shareholder vote.  There will be no more need for I3 once this is ready.

Alright I think I have figured this all out.


In order for the actual BTSX price to change, BTSX must be bought or sold on an exchange. 
So how does trade in bitUSD influence that?



Imagine that someone wants to buy a LOT of bitUSD.  Enough that they move the price up to $1.02, lets say.

Now there is an economic incentive to do the following:
* Buy BTSX on an exchange.
* Use the BTSX as collateral to short bitUSD, selling it to the person willing to pay $1.01.

You profit from this provided that you are later able to exit the short at a fair value.

Therefore:  Buy bitUSD => BTSX increases in price



On the flip side, lets say someone wants to sell a lot of bitUSD.  They are willing to sell it at .99.

This creates an incentive for shorts to cover.  The short, who previously had tied up their BTSX as collateral, now is free to do whatever they want with it, including sell it on an exchange.

Therefore: Sell bitUSD => BTSX decreases in price.


These effects are muted relative to simply buying or selling on an exchange, of course.




The takeaway:

Any time that longs are panicking and wanting to hedge, they can buy bitUSD.  This not only effectively hedges their position, it also SUPPORTS the price of BTSX, instead of hurting it (as would occur if they hedged by selling BTSX on the exchange).

Therefore, hedging in bitUSD acts as a stabilizing force, reducing volatility to both the upside and downside. 

The more that people use bitUSD, the more than the BTSX price will move more smoothly, going up or down in value in relatively smooth lines over time, not in bubbles/spikes!

That is an awesome feature!  It reduces the chance of black swan events!