id say 24xx max but looking at 2500-2530 as possible point

Hit 2507 if it holds then we good other wise low 2400s

Agreed - though we are working on prospectus and other items in advance for Dublin, so that will be covered.

I love how they attract so much attention, when they have nothing developed...

Just getting the sign off of banks willing to participate is enough for people to believe in the project

Makes sense, lets show them 2.0 when it comes out, wait a fee weeks to contact 

A warning to anyone lending out BTS on polo right now:

Normally lending is pretty safe.  (Basically you are risking the exchange getting goxxed, just like if you are keeping them on an exchange as normal).

But right now we have a weird scenario where one insane guy (cagara) is trying to borrow and short way more BTS than one person should reasonably have as a position, and more than the market's orderbooks could really handle at one time.   Worse, he apparently just keeps adding more to it when it goes against him.


What could happen if BTS starts to rise is this:

BTS buys drive the price up and clear a lot of the sell orders out of the orderbook.  Seeing the rise, more sellers pull their orders.  Sell side declines significantly.

Cagara's short becomes at a greater loss, and eventually he gets margin called.  However, he is short so much that the amount can no longer be filled near the market price, because 6 million or more BTS buy will drive the price up MASSIVELY, especially after some buy clear out a lot of it.

The result is that cagara's margin call might drive the market up so much that his remaining btc is not actually sufficient to buy enough back, leaving him sitting with a BTS short remaining open but no capital.
At this point the lender cannot get their BTS back.


The lending rates are really low right now.  You should NOT be taking this risk of the margin liquidation of this insane individual causing him to be unable to repay your lended BTS!  I have pulled all my lending BTS (and am withdrawing each day). 


Withdrawing lending BTS also keeps him from continuing to suppress the price with more shorts, if everyone does it.  At the very least you should be asking for 1-2% daily to cover the risk you are taking, and also bleed him for his manipulation of the BTS price.


In normal situations lending can be a good idea to get a bit of free coins, but this is not a normal situation, and lending at .02% like some people are doing is lunacy.

6M isn't a lot, it would currently drive price to 3k satoshi only, and 17M required to get to 4500 satoshi, remember alot of people aren't sitting around watching price all day, if it happens it will happen quickly and before these guys come and remove their orders. It would probably make th emarket jump 200-300 satoshi at once nothing more. But I think his position may be bigger since hes been shorting for a week, and he throws 40 btc like its  a small chunk of his portfolio so it will be funny but i dont get why he would short so much with so little wiggle room, its like throwing away money..

Quote from: jsidhu on September 30, 2015, 06:14:25 pm

http://www.bnn.ca/News/2015/9/30/RBC-TD-join-top-banks-in-using-bitcoin-technology.aspx
http://coinyoo.com/2015/09/29/13-top-banks-including-citi-and-bank-of-america-join-r3-blockchain-project/

Seems like R3 is making headways into coordinating blockchain tech with banking legacy technology.

R3 website is http://r3cev.com/ and its headed by David Rutter which uses to be CEO of ICAP (electronic OTP broker for forex/equities)

Anyways it doesnt say what tech R3 uses for its blockchain ledger to enable crypto 2.0/exchanges but is it worth reaching out to him to show what we got and upcoming with bts 2.0? He's the closest to getting the banks on board to anything we have ever had and if we can convince one person it might change the face of the entire project in terms of immediate potential.

Their mission statement is:

"We leverage our members’ decades of experience and deep networks within the financial services community to empower innovators, promote industry collaboration and affect positive market transformation on a global scale."

I would say we are the innovators. Seems r3 would be a good front-facing financial community rep company that would be ideal in interfacing with someome like a back-end blockchain expert based company in cryptonomex

I have reached out via social media and a few mutual contacts.  Let's see if we can get a meeting.

I believe this would be a low risk very high reward contact

http://www.bnn.ca/News/2015/9/30/RBC-TD-join-top-banks-in-using-bitcoin-technology.aspx
http://coinyoo.com/2015/09/29/13-top-banks-including-citi-and-bank-of-america-join-r3-blockchain-project/

Seems like R3 is making headways into coordinating blockchain tech with banking legacy technology.

R3 website is http://r3cev.com/ and its headed by David Rutter which uses to be CEO of ICAP (electronic OTP broker for forex/equities)

Anyways it doesnt say what tech R3 uses for its blockchain ledger to enable crypto 2.0/exchanges but is it worth reaching out to him to show what we got and upcoming with bts 2.0? He's the closest to getting the banks on board to anything we have ever had and if we can convince one person it might change the face of the entire project in terms of immediate potential.

Their mission statement is:

"We leverage our members’ decades of experience and deep networks within the financial services community to empower innovators, promote industry collaboration and affect positive market transformation on a global scale."

I would say we are the innovators. Seems r3 would be a good front-facing financial community rep company that would be ideal in interfacing with someome like a back-end blockchain expert based company in cryptonomex

Quote from: jsidhu on September 30, 2015, 01:13:12 am

Quote from: luckybit on September 30, 2015, 12:17:48 am

Quote from: jsidhu on September 29, 2015, 08:38:50 pm

I like the concept of allowing people to store data on some peers, and letting the market decide the rate at which the storage costs. This is in contrast to storing on chain or in the cloud, both of which are inefficient or undesired in the later case.

Redundancy becomes a major issue so I'd like to hear about this new idea of using delegates perhaps as redundant data servers incase peers shutdown and data "shards" need to be reconstructed.

I don't see why you would want to bother when Storj will handle it all and you can just use their network. Bitshares can simply integrate with Storj.

It actually takes a lot of code to get crowd storage right and two teams are already working on it for years.

Can we use storj and use bts as a storjx replacement..? If so then yea thats pretty much a working solution ootb. Use bts as the internal currency and have delegates host some storage space to kickstart the usability... once people use it and it needs scaling up then either more delegates can be voted in or ppl can sell their storage space as a peer(if we build it into bts core)

It would put increased responsibility and risk on the delegates. It would put new political pressures on Bitshares that it currently doesn't have. It would focus Bitshares in a direction it doesn't need to focus.

Bitshares only needs decentralized storage but it doesn't have to come from the delegates. Storj will work just fine and each user of Bitshares can simply connect to a Storj account somehow.

Why would you bother trying to duplicate Storj?

storj needs a currency to work, its an api. The reference currency storjx is the coin that works ontop of storj... we would use bts instead and implement the api either in an asset through a smart contract or directly in the core. The delegates would simply be enabling storj on their nodes to kickstart available storage capacity if anyone wants to store anything, ofcourse its not required and as a first step probably not convenient, but perhaps it is an idea to get network affect in that market by creating quick demand for storing files for free.

Alternatively we can create an MPA for storjx coin and have people trade bts for storjx and that would allow people to do decentralized storage via storjx through our dex and not have to risk going to a central exchange. If we collaborate with storjx coin maybe we can turn it into a UIA and have it be the goto exchange for storjx coins to use storj.

It looks like we are still looking for the new bottom. The price should continue to fall for now.

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