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Messages - chigbolu

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151
General Discussion / Buy Buy Buy 3
« on: April 17, 2020, 06:31:59 am »
Most good traders know that historical support and resistance is one of the bed rocks of making money in trading, this is because those lines show us the point of distribution and the point of accumulation, ie demand and supply, last night I did a little digging into one of my analysis on the 0.016USD level for bitshares, guess what I discovered, it's actually an important level for bitshares, in one of my analysis I noted that below this price level BTS would lose its top 100 market cap spot, and so far it has not lost this level for months now except a few times when the market became very volatile. In conclusion the BTS buy range right now is between 0.017-0.012, it's pretty high but it's due to BTS volatility, the time to accumulate is now cos in the coming months we might not see BTS at this price anymore...

152
General Discussion / Re: Market making contest (main thread)
« on: April 17, 2020, 06:08:25 am »

So, which committee can answer these questions?


Quote from: binggo on March 09, 2020, 12:08:26 am

    Now i must question the Market making contest:

    1. Did the MM have checked the trade volume for so long time?or considered it as a measure of the "liquidity"?

    2. Did the MM have checked the growth rate of new effective users for so long time?or considered it as a measure of the "result"?

    3. Did the MM have a BSIP for the community to vote?or the fund can be used easily by Committee without the vote of the community?

    In a way, the MM became a joke slowly, only have expenditure,nothing gained.
In my own opinion I think the MM contest has not reached it's full potential because of a few reasons, lack of marketing awareness, loss of trust in gateways by many DEX traders, loss of traders to better DEX applications, and lack of stimulus ie small reward to risk ratio especially as BTS price has fallen... And not in any way the committees fault, mind you MM is still one of the programs keeping BTS afloat.

153
General Discussion / Re: BTS TA FOR 12TH APRIL 2020
« on: April 13, 2020, 05:04:02 am »
Currently BTS price is close to 0.018USD thesame levels it was at by this time last month, bitshares traded between 0.013 to 0.019USD  within that time. So far BTS has recovered by almost 30% from the lows of last month, however it currently trying to break the 0.018USD level which has become resistance, failure to breakout may lead to a retest of the 0.013USD support, it still all dependent on bitcoin's performance which has also been good so far. Bitshares has not had any new developments on the fundamental though it is good to know that a few Workers are on ground in terms of development and upgrades, the reduced support for the refund workers shows that there is now confidence in quality of workers being voted... Hopefully a few positive news may boost the price back to 0.04USD and beyond.
First support is still holding at 0.016USD



154
General Discussion / BTS TA FOR 12TH APRIL 2020
« on: April 12, 2020, 04:43:05 pm »
Currently BTS price is close to 0.018USD thesame levels it was at by this time last month, bitshares traded between 0.013 to 0.019USD  within that time. So far BTS has recovered by almost 30% from the lows of last month, however it currently trying to break the 0.018USD level which has become resistance, failure to breakout may lead to a retest of the 0.013USD support, it still all dependent on bitcoin's performance which has also been good so far. Bitshares has not had any new developments on the fundamental though it is good to know that a few Workers are on ground in terms of development and upgrades, the reduced support for the refund workers shows that there is now confidence in quality of workers being voted... Hopefully a few positive news may boost the price back to 0.04USD and beyond.

155
simple solution:

BALLOTS:

chain offers ballots
ballots cost one bts per ballot

ballots are not transferable and non returnable; effectively proof of bts burn.

STAKE:

bts must be stake locked to vote

user specifies days of lock, machine counts down

user may add (but not take away) funds or duration to the countdown clock at any time.

during stake lock bts is non transfer / trade

POWER:

voting power = min(bts locked, ballots owned) * days of stake locked bts remaining





COLLATERAL:

add to that any bts held as collateral cannot be locked for voting.

PROXY:

add to that that proxy decays linearly over 365 days and requires user to vote stake lock their bts against owned ballots for proxy to have power.

RESULT:

Now you want to vote? first you burn a bts to buy a ballot.  It is difficult with custodial funds.
and you want to vote you stake lock on countdown timer. This is also difficult with custodial funds
and if you want to proxy your voting power you are held to same standard.
collateral bullshits occurring are patched 
legally bts is still a required "utility voting token" to fill ballots owned, purchased only with bts

now you want to gamble with the switches in bitshares voting box you have "bts futures" and "burnt bts" on the line, not just proof of momentary wealth. interests in promoting the bts core token price in the future are aligned with votes

you want to be an owner?  buy in and act like an owner.

problem solved


ps move everything to likert scales
That's a genius solution, however I'd prefer staking instead of outright burn, just my opinion though...

156
General Discussion / Re: ANN: HONEST Market Pegged Assets
« on: April 06, 2020, 10:27:29 am »
@litepresence
I suggest the smart coins should be added to the market maker contest even if it's one pair, this may help with liquidity and incentivize people to consider holding the Honest asset.... As currently liquidity and awareness is still poor... 🤔🙄

157
General Discussion / The need for BTS to license bridge exchanges
« on: April 03, 2020, 04:50:03 pm »
From my understanding, bridge exchanges are semi-centralized exchanges that make use of bitshares graphene technology, they are semi-centralized because the UIAs are created on the bitshares chain/network. Aside this advantage they have the features of other centralised exchanges and the owners can bail out with user funds at any time and because owning their UIAs is dependent on trust, thus even though the BTS chain is fully decentralized and trustless, it relies on these bridge exchanges which requires trust for liquidity and more functionality i.e ability to trade other cryptocurrencies like Bitcoin, ethereum etc. Unlike traditional CEX I think more should be done to licence or legalize these bridge exchanges, I mean most of the top exchanges like coinbase, binance, etc have some form of licence and legal framework with which they operate. For bitshares to attract more users it has to have some form of licence or legal framework or policy guiding the use of it's technology, this will also ensure to some extent the safety of users who entrust their funds to bridges, as well as improve the quality of exchanges that run on the bitshares network. There would also be improved accountability on the bridges. There's even nothing wrong in having licensed exchanges like binance and coinbase building a DEX on the bitshares network.

158
I suggest a new coin for voting, the coin will be airdropped to active accounts through a form of whitelisting, this removes BTS core token's responsibility as a coin for voting. Whitelisting will ensure only active accounts can receive the coins, it also removes the possibility of proxy voting as the airdrop will happen to single accounts....

159
General Discussion / Did you sell at 0.04USD??
« on: March 18, 2020, 09:01:56 am »
After the last bitshares rally that took BTS to approximately 0.04USD there has been an even sharper decline, which prompts me to ask this question, I did sell a little of my BTS but not to buy below, I sold them at that time to buy a few personal things, I never envisaged that BTS would go so low again, so I didn't prepare well enough, not that I regret it, it's just that I could have accumulated more BTS than I currently have, however we still have roughly 9-8 months before the year ends so there's still time to make amends, so did you sell? Did you see the future in February?...




160
General Discussion / BTS TA FOR 12TH MARCH
« on: March 12, 2020, 07:15:28 am »
After the wonderful highs of last month BTS has fallen back down to 0.018USD this is a 55% drop from 0.04USD, much of the drop can be attributed to bitcoin's fall in price, but a general lack of strong support for BTS means we are back to the accumulation levels of 0.02-0.015USD, the range is high because BTS is very volatile.
Current stats
7d change   -31.05%
30d change -46.15%
If BTC price go lower over the coming weeks we might see BTS below  0.015USD again, this should lead to a retest of the bottom for BTS i.e 0.014USD, a break below this price would result in further sell offs, hopefully that scenario will not play out.

Due to recent developments the support has been adjusted to 0.013USD...

161
General Discussion / BTS TA for 12TH FEBRUARY
« on: February 12, 2020, 12:49:08 pm »
Bitshares price has risen by over 120% since last month ranging between 0.016USD to 0.037USD currently following an impressive recovery from the harsh downtrend of last year, much of this rise is due to bitcoin's price. Currently we have two strong resistance levels at 0.04USD and 0.05USD, and bitshares is trending sideways between 0.04USD - 0.03USD, hopefully it maintains momentum to push up above 0.05USD in the coming month, to sustain the current rally.
Meanwhile I will touch on some positive news that might have led to the recent rally...
1. Bitshares trademark in Europe; this news came during the pump of BTS from 0.016USD to 0.04USD, the trademark is part of an effort by a non profit institute from Slovenia to make bitshares a recognized financial entity. There's ongoing work to make it global.
2. BTS listing on new exchanges, recently BTS has gathered a lot of interest from CEX exchanges, with the backing of these exchanges with promotional funds there is  now more liquidity for BTS especially now that BTS gateways are becoming unreliable.

162
General Discussion / Re: ANN: HONEST Market Pegged Assets
« on: January 21, 2020, 03:15:51 pm »
I will say somthing in chinese, hope you can understand.

1. 抵押锚定的流动性很大的程度上来源于其杠杆特性及推广程度;
具体我们可以参见bitcny, 中国社区是bitcny最大与最活跃的用户群体, 中国社区前期的推广打下的基础带来的用户群使bitcny才有了良好的深度与流动性, 而其它抵押资产却完全无法与之相比, 即使是bitusd, 如果参与bitusd其中的中国资金一撤离, bitusd的深度与流动性立马见底.

所以: 杠杆特性虽然能够产生流动性,但是在推广没有到位之前, 起不了多大作用.

2. 希望能够所有BTS持有人能够理解BSIP74及BSIP77的意义所在。

MakerDAI的清算机制是存在问题的, 这个问题与BTS的MSSR一样,但是ETH在CEX良好的深度及流动性及ETH的转账速度把这个问题给掩盖住了,ETH在CEX良好的深度及流动性完全抵御住了makerdai清算人进行大量折价抛售ETH,转账的延迟性也掩饰了之一问题的严重性,如果makerdai锁定的ETH数量足够多,eth的转账速度足够快,到时候市场大幅度下调对makerdai清算机制带来的结果是致命性的,eth市场的连环崩塌并不是梦幻 ,到时候必然要触发MKR的增发机制及黑天鹅机制。

而BTS直接就已经把这个问题暴露得淋漓尽致,过大的MSSR大幅抹杀DEX内部市场深度与流动性,同时冲击CEX的市场价格,带来喂价的连环崩塌,再加上CEX的杠杆做空,一切就是这么发生的。

而我们推BSIP74的目的是为了什么?:
是为了最大程度的消除MSSR带来的影响,如果有暴仓费的手续费分享与线性解冻功能,我们也可以用此间接解决市场吃爆仓单的积极性与流动性问题,同时最大程度上规避直接使用MSSR抛售带来的负面效果,也就是最大程度上规避MakerDAI所存在的隐藏问题。

而BSIP77的目的是为了什么?:
也是为了一定程度上来消除MSSR带来的影响,我们做得是抵押锚定,不是做100倍的合约杠杆,价格在一定范围内的上下波动不应该爆来爆去的,同时也是为了一定程度上规避喂价带来的负面影响,防止利用CEX过低的深度及流动性,利用CEX做空杠杆打击喂价从而冲击抵押。
而且BSIP77还可以带来我们可能现在想不到的灵活性的调整。

而对于全局清算这个东西,其实是很傻的,一个人的债务违约不应当让这个银行的全体债务人被清算,合理的方式应当是把这个人的债务打包即时拍卖掉,实现债务拍卖市场。


I know it is very hard to understand what I'm saying, but i'm too lazy ;).
The assets will follow the traditional MPA pattern of BTS if you don't like it you can move on no need to criticize...

163
General Discussion / BTS TA for 12TH JAN
« on: January 12, 2020, 12:19:36 pm »
Since last month BTS has dropped 14% to 0.016USD, It also dropped to a low of 0.014USD. It has risen by 13% since the last low.
BTS will need to close above 0.019USD Which is the current weekly EMA in order to confirm its change of Fortune, a failure may see a sharp drop back to 0.013USD or 0.008USD for worst case scenario, hopefully BTS has truly turned a corner.
Unfortunately Price will also be affected by the price of BTC in the coming days as BTC is currently the most liquid market on the DEX, and also the most dominant crypto, if Bitcoin falls in price the BTS may suffer, a rise or range in price for BTC might improve BTS.
Another factor is worker proposals currently there are no workers running except for refund workers, there fears that a vote for workers would negatively affect BTS price, also bitUSD and bitCNY have not yet restored their pegs, it will be interesting to see how prices react if they are restored, we can also see that the market marker contest also brought some positive results in price, hopefully there will be more positive results in the coming months for BTS.

164
General Discussion / Re: Someone is scaming by launching a proposal
« on: January 11, 2020, 02:35:51 pm »
I got another proposal scam today from an account called witness blockchain, the important thing is to ignore such proposals. Note the proposal is always about change of authority or withdrawals

165
General Discussion / Re: I want to play a game
« on: January 01, 2020, 11:08:50 am »
BTS price at new year on GDEX
BTS/GDEX.BTC 205
BTS/GDEX.USDT 0.0146

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