What's happening with the price?

[Ander]

100% agree with you on pretty much everything Ken...though I wince to read Mr. Rothschild quoted anywhere---no matter how true his words. 

Yes, people always drag out that quote about 10 times before the true bottom.
True blood wouldve been if it hit .5 cent last night.  True blood was Jan 13 in bitcoin when it was down 40% within a 24 hour period.

That said, the volume today in BTS was significant, and this could be a bottom, IF this level holds, and we continue to bounce.  The market engine being broken and the resulting attempt to manipulate the price down by bitUSD whales in order to ruin the longs is a good potential bottom.  If they succeed, then these whales 'steal' a bunch of BTS from the bitUSD shorts right at the bottom, and then they have incentive to drive it back up again.

[kenCode]

... when you build a community, it takes longer than a year to get the foundation completely built and you will have many peaks and valleys.
... People are not patient, and if timelines do not fit precisely how they perceive them, many are willing to go with something less valuable that promises far more than what they had built up to that point...just so they can feel certain of a big win (even if it is just an illusion).

 - bingo

[fuzzy]

Stop quibbling over where a bottom is at, who cares, seriously.

Yes, STOP quibbling.  We do care about the price because the developers and delegates depend on it to cover their cost.  They do need to feed and pay rent to survive. 

But START thinking of how we can help BitShares to succeed.

 
The only thing that will make bitshares not succeed imho is if our community gives up on it.  The most important lesson I have learned (and it is a frigging HARD lesson) is that when you build a community, it takes longer than a year to get the foundation completely built and you will have many peaks and valleys.  We continue using it and it there will be something you NEVER saw coming, that will initiate ignition of the rocket to take us into space.  Then, once you reach the moon, it will be rinse and repeat....
People are not patient, and if timelines do not fit precisely how they perceive them, many are willing to go with something less valuable that promises far more than what they had built up to that point...just so they can feel certain of a big win (even if it is just an illusion).

Anyway, I have to talk to BM and Stan about something sometime in the coming day or two...but I think if it goes through, you guys are going to all be very very happy.  Not saying this to get hopes up, because it is really all up to the BitShares team right now, but there is a huge opportunity that just lined up and all I need is for them to listen and say yes.  If that happens....I'll be smiling despite my wife wanting to kill me over jealousy toward the bitshares community, and she will likely be smiling too when she figures it all out.  God I am so pumped right now.  Really wish I could tell you the details as though it was set in stone

- ...

you are put in a lot of useless features

name just one!

Useless or at the very least extremely badly timed i.e. before working bitAssets and their market place.

-TITAN - the 500 pond gorilla in the room.

- Improvement complete incompatibility with BTC.

- ordering short orders by collateral

-working on VOTE and pitching VOTE in California (together with the whole preparation for it and considering VOTE the cornerstone of the BTS marketing)

-mixing up block producers with people working for the blockchain - leading to the BTS paying too much or not enough all the time to such workers.

- starting to build key-graph into BTS.

- mail system.

- posting messages on account walls

-Sparkle - we will take over the world by DPOS mining....

- prediction markets

- bingo

I am sure I have missed at least 50% of the them...

Can't deny any of what you just said, but there are many problems with other cryptos, too....and we know that eventually the broken shorting (probably the chief reason for BTS's current discount) will eventually be fixed so as soon as that happens it will be good to go again---though I am sure it will take some time to regain what was lost. 

[zerosum]

- ...

you are put in a lot of useless features

name just one!

Useless or at the very least extremely badly timed i.e. before working bitAssets and their market place.

-TITAN - the 800 pound gorilla in the room.

- Improvement complete incompatibility with BTC.

- ordering short orders by collateral

-working on VOTE and pitching VOTE in California (together with the whole preparation for it and considering VOTE the cornerstone of the BTS marketing)

-mixing up block producers with people working for the blockchain - leading to the BTS paying too much or not enough all the time to such workers.

- starting to build key-graph into BTS.

- mail system.

- posting messages on account walls

-Sparkle - we will take over the world by DPOS mining....

- prediction markets

- bingo

I am sure I have missed at least 50% of the them...

[inarizushi]

The market is broken, and nobody even mention it ? That's what's happening : https://bitsharestalk.org/index.php?topic=15089.0. It's IMPOSSIBLE to short, therefore the BTS cannot do anything else than falling. The peg cannot hold. Why is the broken market still running ? It's so infuriating. All shorters are at huge risks.

[fuzzy]

Stop quibbling over where a bottom is at, who cares, seriously.

Yes, STOP quibbling.  We do care about the price because the developers and delegates depend on it to cover their cost.  They do need to feed and pay rent to survive. 

But START thinking of how we can help BitShares to succeed.

 
The only thing that will make bitshares not succeed imho is if our community gives up on it.  The most important lesson I have learned (and it is a frigging HARD lesson) is that when you build a community, it takes longer than a year to get the foundation completely built and you will have many peaks and valleys.  We continue using it and it there will be something you NEVER saw coming, that will initiate ignition of the rocket to take us into space.  Then, once you reach the moon, it will be rinse and repeat....
People are not patient, and if timelines do not fit precisely how they perceive them, many are willing to go with something less valuable that promises far more than what they had built up to that point...just so they can feel certain of a big win (even if it is just an illusion).

Anyway, I have to talk to BM and Stan about something sometime in the coming day or two...but I think if it goes through, you guys are going to all be very very happy.  Not saying this to get hopes up, because it is really all up to the BitShares team right now, but there is a huge opportunity that just lined up and all I need is for them to listen and say yes.  If that happens....I'll be smiling despite my wife wanting to kill me over jealousy toward the bitshares community, and she will likely be smiling too when she figures it all out.  God I am so pumped right now.  Really wish I could tell you the details as though it was set in stone

[kenCode]

... START thinking of how we can help BitShares to succeed.

If you are an awesome coder, please assist the guys on Github. Every little bit helps.
  https://github.com/BitShares/bitshares/issues
If you like social media, get every social site (i have an xls of 326 sites) linked to wallet.bitshares.org
If you like politics for some reason, contact every elected Rep you can and let them know about bitAssets.
If you have connections in banking, walk them thru the wallet.bitshares.org site.
If you enjoy sales then show every centralized exchange why/how they can upgrade to the Bitshares platform.
If you work with the media (alt or msm) show them the bitshares.org site.
Investment/asset/fund managers.. Show them https://wallet.bitshares.org/#/markets
If you want to see certain features, start a forum thread and detail how it should work, where it appears, etc.
If you have a friend in a poor, oppressed country, send them to wallet.bitshares.org
 

[cube]

Stop quibbling over where a bottom is at, who cares, seriously.

Yes, STOP quibbling.  We do care about the price because the developers and delegates depend on it to cover their cost.  They do need to feed and pay rent to survive. 

But START thinking of how we can help BitShares to succeed.

[fuzzy]

100% agree with you on pretty much everything Ken...though I wince to read Mr. Rothschild quoted anywhere---no matter how true his words. 

[kenCode]

@yiminh
 
I love this thread. The price will be this, no, the price will be that, no wait, the cap should be going up! OMG you guys come on..
 
You could post this exact same thread when the price hits $1 or $5 or $500, whatever.
Stop quibbling over where a bottom is at, who cares, seriously.
 
Get in, get out, stop loss, trade.
 
See also; Cashflow 202: http://www.amazon.com/Rich-Dad-Cashflow-202/dp/B002LUBAT2

[luckybit]

because bitshares is unusable, and people can not use it to create value. so bitshares is useless now.

I have to disagree, even tho I too am antsy to see new features and bug fixes and more features etc. There's no denying the Yield that I am earning now that I would not have been earning with Wall Street or a bank.

Aren't you the guy who has 80% of his money locked in as BitAssets?
You probably seem like a genius now. You should make a thread so other people can avoid losing money because by now you probably just gained quite a bit.

[Empirical1.2]

The new BTS is structured as a company and derives it's valuation primarily from the market's perception of the development and adoption of the product, BitAssets.

BitAsset adoption is anemic and there's a large gap between where BitAssets are and where they need to be for even existing shareholders to adopt them to any meaningful degree.  https://bitsharestalk.org/index.php?topic=14831.msg192017#msg192017

Development costs money. BTS is primarily funding development via dilution. Therefore the lower the price goes the less competitive BTS becomes & the less likely it is that it will be successful.

[vlight]

BTS will never bottom unless you wake up and face the reality, BTS is at all time low, everyone investing in BTS lost money except those scammers who got in for free.

So, if we all "wake up" and admit that "BTS is at all time low, everyone investing in BTS lost money except those scammers who got in for free", then BTS price will go up ?? ?

[yiminh]

You are not innovating

Do you even read what you write?
Let me give you counter examples:
- DPOS
- MPA
- TITAN
- VOTE
- ...

you are put in a lot of useless features

name just one!

introduse tones of bugs

Sure .. that's how coding works .. that's by the way why the release number is
0.7.0 and not 3.4 or even 10 (X) ... The sofware is still labeled beta .. If you
are not fine with that.. dont use it.. don't invest into it..

creates unbelivable complexities

I can believe almost everything .. except that that *they* introduce complexity
.. That's just wrong .. The market forced them to introduce extra complexity ..
and the people are still asking for more complex feature (i.e. relative orders)

We can feel lucky the devs are still considering them. Some other request have
been denied as too complex to implement, too!!

hardforks and inflate the BTS cap

.. not .. again ..
You are not find with the merger .. fork the blockchain and start your own.
period!

thus destroyed the BTS price, job well done

They not even sold for tax purpose .. At least Stan noted somewhere that he
NEVER sold a single Larmier (phun inteded) ..
So they are for sure not the once 'destroying' the price .. it's the market
participants that *still don't get it*(tm)

BTS will never bottom unless you wake up and face the reality, BTS is at all time low, everyone investing in BTS lost money except those scammers who got in for free.

[btswildpig]

because bitshares is unusable, and people can not use it to create value. so bitshares is useless now.

I have to disagree, even tho I too am antsy to see new features and bug fixes and more features etc. There's no denying the Yield that I am earning now that I would not have been earning with Wall Street or a bank.

what about the cost of the spread due to in and out of the system for fiat or BTC ?