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...

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

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...

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.

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?...

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.

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.

BTS price at new year on GDEX
BTS/GDEX.BTC 205
BTS/GDEX.USDT 0.0146