BTS long term support

[jsidhu]

I hope that was the bottom and we get some strong buyers here

[Ander]

I just sold all the shares I got from 3200-3400 at 3900.  Fastest 15% profit ever.

[jsidhu]

Probably BM just giving some ppl paying attention the chance to get in cheap... That was 30% of the needed amount to sell so maybe that was it... and they can pay their tax now

[Ander]

I wonder if the bter dumper sold because he heard that devs had sold some?  That would be silly but the timing lines up.

[Ander]

I will forever treasure the ~20k bts I managed to buy at about 3/4 of a cent.

[jsidhu]

early xmas!

[Ander]

What in the hell is going on?

Yea, that's kind of ridiculous. Wayyyy less than the BTC38 price. Hope it doesn't cause a panic.

This WAS a panic. 

[nomoreheroes7]

What in the hell is going on?

Yea, that's kind of ridiculous. Wayyyy less than the BTC38 price. Hope it doesn't cause a panic.

[Ander]

What in the hell is going on? 

[Ander]

HOLY SHIT you would not believe the price I just got some BTS at on bter.  Too bad it was only like 1 BTC. 
Someone has gone crazy.

[Ander]

And someone dumped it down to 3600 sat on bter again, 10% below BTC38.  (The bter dumper of the last several days is definitely someone else).  I caught some shares in the last one of these dumps but no funds to catch this one. 

If anyone has BTC on bter, put some buys in the 3610-3700 range, try to catch the crazy cheap shares of this dumper!  Its like a 10% off sale on the already sale prices.

[arhag]

One positive from this in terms of decentralization is that the top holders of BTS now have ~10M less, or .4% of all supply.

How did you reach that conclusion? If this list is at all accurate, then there are stakeholders with much bigger balances than that. I believe the 75m and 62m BTS (at rank 2 and 3 respectively) are in bytemaster's control as part of the AGS funds.

Edit: Oops. I misread "~10M less" as "~10M or less". My bad.

Edit2:

Unless you count btc38, yunbi, and bter as "holders" because they hold people's BTS for them, then devs collectively are definitely one of, if not the top whales.  Personally I am not counting the exchanges as if they were one entity, as they have obligations to many people.

I wonder if there were a way to guess which balances belong to the various exchanges. I would like to know just how much voting power they really have.

[Ander]

So I have you to thank for that cheap BTS? Thanks BM! I knew you loved me. 

Indeed.  Everyone who bought some of the dev's BTS raise your hand!
I got about 200k of it.

[Ander]

Unless you count btc38, yunbi, and bter as "holders" because they hold people's BTS for them, then devs collectively are definitely one of, if not the top whales.  Personally I am not counting the exchanges as if they were one entity, as they have obligations to many people.

If we look at how voting happens, the biggest vote chunk that ever gets added is around a 5% stake.  Either thats the devs, or there is another whale of that size, or both. 

If the devs are ~5% and that is the top holder, then decreasing that by .4% means more decentralization of BTS stake.

[nomoreheroes7]

Devs are not top holders. 

So where were the BTS being sold? There were quite a few million+ drops on BTC38 over the past week, but can the devs convert from CNY -- USD? If the sales were for BTC, there were still a lot of other dumpers in the BTS/CNY market...

And how are the devs not top holders? I thought you alone had like 90 million or something like that.

There has been the sustained selling pressure of some what for quite a while now (I think specifically someone big started selling in the Jan 20-25 range.  This bitshares whale has been slowly selling off a couple million a day since then. 

...

The positive things we have been doing just havent been enough to stem the tide of this big seller, who simply does not seem to care that the price he is getting is now very low.  There is no reason for the bulls to try and drive it up as long as this guy is still determined to sell BTS, it makes much more sense for them to just but up low bids and let him desperation-sell into them, because the seller seems very desperate. 

Eventually this bear will either run out of BTS, or run out of desire to sell / need to sell, and the dumps will decrease, and the bulls who right now are getting their orders filled by placing lowball bids will stop getting filled and will have to start bidding the price up if they want more.

lol this is hilarious to read in the context that BM was the bearwhale all along.