Bitshares price discussion

[GaltReport]

You can margin call with your own BTS, this is what I did just now.

For example, make a 100 000 BTS deposit and you can margin call (long in my case). Just be very careful to have a large marge (Est. Liquidation Price 175 in my case).

This is the way I found to buy BTS with no money. If you do it cleverly (say buy 10 000 BTS for a deposit of 100 000 BTS), it should be ok. If every BTS holder do it margin dumpers are dead.

This is exactly what everyone of us including BM should have been doing..The level of comfort depends to each of us..Since I didn't have much BTS and I wanted to support the price, I got margin long with my bts as collateral but unfortunately not having a lot of comfort I played a very risky game and lost big time..Someone with millions BTS may support the price by creating walls and have a lot of comfort not to get margin called since he would use for 1 mil BTS to buy 300k BTS and not 2.5 mil BTS..
We all want to trade eventually in our platform but until this is ready we could have supported the price in Polo, BTS become expensive, people want to learn what is BTS and gradually we move on from Polo to our DEX..

Instead of that even people preaching about BTS in here all the time, when they show the dumping started to dump as well and once the dumping starts it never ends..Even at this level and with BTC retracing there is no buy support in Polo..Hence in the future we will end up with a great product, "worthless" BTS and desperate hodlers who for the last two years have supported the project losing their money..

Anyway...

This is interesting...to hear strategies that BTS holders can use not just to HODL BTS...but take active steps to support BTS price with varies levels of risk. 

[mf-tzo]

You can margin call with your own BTS, this is what I did just now.

For example, make a 100 000 BTS deposit and you can margin call (long in my case). Just be very careful to have a large marge (Est. Liquidation Price 175 in my case).

This is the way I found to buy BTS with no money. If you do it cleverly (say buy 10 000 BTS for a deposit of 100 000 BTS), it should be ok. If every BTS holder do it margin dumpers are dead.

This is exactly what everyone of us including BM should have been doing..The level of comfort depends to each of us..Since I didn't have much BTS and I wanted to support the price, I got margin long with my bts as collateral but unfortunately not having a lot of comfort I played a very risky game and lost big time..Someone with millions BTS may support the price by creating walls and have a lot of comfort not to get margin called since he would use for 1 mil BTS to buy 300k BTS and not 2.5 mil BTS..
We all want to trade eventually in our platform but until this is ready we could have supported the price in Polo, BTS become expensive, people want to learn what is BTS and gradually we move on from Polo to our DEX..

Instead of that even people preaching about BTS in here all the time, when they show the dumping started to dump as well and once the dumping starts it never ends..Even at this level and with BTC retracing there is no buy support in Polo..Hence in the future we will end up with a great product, "worthless" BTS and desperate hodlers who for the last two years have supported the project losing their money..

Anyway...

[liondani]

poloniex disable withdraw

opened a  ticket there...
(last time they topped up their account a couple of hours later and sent me my funds)

PS they have 3 BTS in there   
https://bitshares.openledger.info/#/account/poloniexwallet/overview

[Unosuke]

They just need to top up the BTS in the poloniexwallet account.

[lzr1900]

poloniex disable withdraw

[dave23]

If the following were told to me:

• Crazy manipulation by (an organized gang of?) traders on Poloniex is leaching value from BitShares, hurting the whole project
• There is a person or a body of people, trusted by the BitShares community, with the ability to fight back on Poloniex for the benefit BitShares
• This trusted entity has a trading plan which has been 'audited' to the satisfaction of the community. (Analyzed behind closed doors by a select few if necessary)
• The plan is risky and could backfire, but there is a good chance of success
• The amount of BTS needed to operate the plan is great
• The amount of BTS needed could be pooled by creating a User Issued Asset and selling it to BitShares supporters (or to people who want to speculate, anticipating a cut of any profit)
• There are loads of people on bitsharestalk who have stated that they'd like to allocate a proportion of their BTS into buying this UIA

then I would say, "Oh, I'm definitely interested in buying a chunk of such a UIA, but I know nothing about trading and would like to see what others think of this idea on bitsharestalk".

That is all...

LOL.  Now there is an idea.   If being a whale was so profitable then I am sure you would see funds set up doing just this!   The fact that there are no funds like this out there tells me all I need to know about the effectiveness of being a whale and manipulating the price for profit.

There isn't enough money to be made for mainstream funds.  A couple hundred thousand dollars is small to them.  I am sure that if there were millions to be made...they would be here.

[xeroc]

Please read the whitepaper:

docs.bitshares.eu

[FIAThater]

Does that mean the supply of bitUSD should equal to the BTS marketcap (in terms of USD) to prevent blackswan?

[FIAThater]

@Ander
What you fail to see and take into consideration is that  a price drop to 542  sat right this moment will cause a blackswan in bitBTC; to 425 in bitUSD as well, it will be much worse PR than BM losing several mil BTS...

What do u mean by blackswan? Also, what is bitUSD and where do I find that asset?

bitUSD is just written as USD under the market pegged assets list.
A blackswan means there is insufficient collateral to buy back all bitUSD in existence, in which case all bitUSD will be reset at the current BTS value.

http://cryptofresh.com/a/USD

Ok, found it. Hmm, the current price rate is 327.74 BTS per USD. There are only 108,450 USD issued so far. So the one could rebuy all USDs with just 32.7 million BTS. Why there is insufficient BTS collateral then?

[kenCode]

@Ander
What you fail to see and take into consideration is that  a price drop to 542  sat right this moment will cause a blackswan in bitBTC; to 425 in bitUSD as well, it will be much worse PR than BM losing several mil BTS...

What do u mean by blackswan? Also, what is bitUSD and where do I find that asset?

bitUSD is just written as USD under the market pegged assets list.
A blackswan means there is insufficient collateral to buy back all bitUSD in existence, in which case all bitUSD will be reset at the current BTS value.

http://cryptofresh.com/a/USD

[speedy]

@Ander

What you fail to see and take into consideration is that  a price drop to 542  sat right this moment will cause a blackswan in bitBTC; to 425 in bitUSD as well, it will be much worse PR than BM losing several mil BTS...

What do u mean by blackswan? Also, what is bitUSD and where do I find that asset?

bitUSD is just written as USD under the market pegged assets list.

A blackswan means there is insufficient collateral to buy back all bitUSD in existence, in which case all bitUSD will be reset at the current BTS value.

[FIAThater]

@Ander

What you fail to see and take into consideration is that  a price drop to 542  sat right this moment will cause a blackswan in bitBTC; to 425 in bitUSD as well, it will be much worse PR than BM losing several mil BTS...

What do u mean by blackswan? Also, what is bitUSD and where do I find that asset?

[bitbybits]

I'm still holding onto my BTS. But I am still trying not to confuse the conversion of BTS to USD as for BTS to BTC.

[kenCode]

Edit:  Also I swear a little when the price goes down.

Me too ... but after websummit I won't any more

I am doing the opposite, I LOVE these low prices!
 
What is the websummit URL?

[xeroc]

Edit:  Also I swear a little when the price goes down.

Me too ... but after websummit I won't any more