Bitshares price discussion

[Ander]

I am prepared for whatever happens.  Have more BTS fully paid for than ever before, and a few btc ready in case we crash.

[tbone]

I look at this downtrend as a smaller, fading counter-trend within the larger uptrend beginning 9/4.  Also, while drawing the downtrend channel helps visualize the boundaries of the price pathway from the local high to the next local low, it does not tell us where the actual low will be (i.e. how far it will follow the counter-trend).  For this I would look at the fibonacci retracement levels.  So far we've bounced at various fib levels, most recently around the 38.2% fib, which may be the approximate bottom, just as it was with the retracement of the smaller move from 1400-2400.  We could go a little lower, perhaps to the 23.6% fib level of the larger overall move from 1400-3100, which would actually be a 100% retracement of the second sub-move move from 1700-3100.  I tend to doubt it needs to retrace that much.  So I very cautiously say the bottom may be in.  Although anything can happen!

 

https://www.coinigy.com/assets/img/charts/56167ab0.png

thrilling but no cigar...

[werneo]

could it be a flag formation after a W ?

I don't think it's a flag because it's traveling in the same direction as the overall downtrend. A true flag pattern would travel in the opposite direction of the larger trend. http://www.investopedia.com/university/charts/charts6.asp

[liondani]

could it be a flag formation after a W ?

[werneo]

thrilling but no cigar...

[liondani]

It's happening.


This looks incredibly sexy and is making me more bullish : www.openledger.info






Questions:

1.  Can I store my Bitcoin with OpenLedger ?

Will OpenLedger have a downloadable client for windows and mac?

Has OpenLedger been in talks with Paypal?


How will withdrawing funds to my PayPal account work when paypal does not accept BTC?

Anyone?

@ccedk

[Blazin8888]

It's happening.


This looks incredibly sexy and is making me more bullish : www.openledger.info






Questions:

1.  Can I store my Bitcoin with OpenLedger ?

Will OpenLedger have a downloadable client for windows and mac?

Has OpenLedger been in talks with Paypal?


How will withdrawing funds to my PayPal account work when paypal does not accept BTC?

Anyone?

[mint chocolate chip]

FWIW

Poloniex is in contact with the Bitshares BTS developers and will have the 2.0 integration ready in the time for the launch. All funds will be migrated. Posted by MobyDick at 2015-10-07 00:03:44

[Tuck Fheman]

[Blazin8888]

It's happening.


This looks incredibly sexy and is making me more bullish : www.openledger.info






Questions:

1.  Can I store my Bitcoin with OpenLedger ?

Will OpenLedger have a downloadable client for windows and mac?

Has OpenLedger been in talks with Paypal?


How will withdrawing funds to my PayPal account work when paypal does not accept BTC?

[werneo]

@Werneo, if we get the dump you are predicting do you think that will probably be the bottom?

I think so. Unless there is a problem with the beta release, though from what I have read the testing is going fine and we are ready to launch the chain on Oct 13.

Here's a chart that shows the two main declining price range channels. So maybe after we hit another post-bubble low, the price might bounce up into the next channel. That would reset the price at a higher level and put bts in a range of 2500 - 2100 sat ... and declining. I think the bulls need to get well above 2500 satoshis to break the downtrend.

But who knows? Anything can happen.

[liondani]

The daily chart says something different ...
Yes , we are on a downtrend channel but right now on the lower resistance line...
+ we are on the lower bollinger bands line (that works as a resistance too

so I think even if the downtrend continues we will first witness a bounce to 2300 the next 2 days (before going to 1800)

[Ander]

Well, dumped my 1950s buys at a profit at least, I'll buy em back in 1800s if we get there, and if not thats great.

I would love to dump some BTS and then have it go up and never go back down to where I sold. 


@Werneo, if we get the dump you are predicting do you think that will probably be the bottom?

[Ander]

(Edit: Ander points out that polo traders probably jumped in somewhere over 2300 satoshis. I think he's on to something but based on the chart I would call the entry point more like 1800 sat.)

I think the traders mostly started entering at 1800, on up.  After the first pullback from 2300 down to 1800. 


Anyway, it could either go as your chart says or could break higher now.  The current push is sitting at the downtrend line as resistance. 


I have no margin so I will just sit in BTS.  I dont think margin is a good idea right now with the transition coming.  There is a bunch of traders who will likely attempt a dump sometime around release people people expect 'sell the news', so dont put yourself in a position to get hurt by a dump.  I have some btc to buy with if they try it, or if it goes down to 1800s soon.

[Ander]

Hypothetical question: If BTS loan rates were really high, say 0.2% - 0.5%, would shorts have to either renew at those loans after 2 days, or otherwise cover?

Would it result in margin call if they can't find BTS to renew the loan?

loans automatically renew at the lowest available rate.  I had a similar question a few weeks ago...what if someone used all of the available loan supply to place a sell order at a very high price?  Would this cause anyone who is short to be liquidated when they can't renew their loan?


From: Tristan D'Agosta <contact@poloniex.com>
Date: Thu, Sep 24, 2015 at 2:02 AM
Subject: Re: Hypothetical Margin trading question
To: dave23

You would not be liquidated at all; the loan just wouldn't close until
another became available. I don't think this has ever happened for a
substantial period of time, because fewer loan offers means better
rates, which provides an incentive for more offers.

If you wanted to discourage people from LENDING their BTS to people who want to SHORT then all you need to do is offer to pay them better interest rates on-chain.   

For example, offering everyone the option to earn 10% APR for a 30 day loan on the network would almost completely dry up the short side of the market.   Unfortunately, it would result in long-term inflation.

It wouldnt result in long term inflation if the loan was being paid for by a borrower to a lender, on the BTS exchange.  It would simply be a payment from one user to another.

It would be silly to have the blockchain itself offer that kind of return, of course.