Bitshares price discussion

[roselee]

I seriously doubt that selling 30k BTS for Brownies is the reason that BTS value is dropping..I don't think that people will start dumping BTS for Brownies..Especially when Brownies have absolutely no strings attached, haven't promissed officially any sharedrop of anything in the future and can magically dissapear from your wallet if BM chooses to..

On the contrary I would say that people started to dump Brownies in order to buy BTS..

What are Brownies? Sorry, noob.

The founder and lead developer on BitShares recently started Brownies to reward people for their contributions.

https://bitsharestalk.org/index.php/topic,17354.0.html

They were recently given 20% equity in a new venture called IDentabit

https://bitsharestalk.org/index.php/board,96.0.html   (Active BS community allocation)

There's speculation they may be awarded equity in CNX - a separate company recently set up by the developers that owns the rights to the new platform, Graphene,  that is being released on BitShares in the next few months.

You can also purchase Brownies in the wallet, but they are subject to dilution at any time & possible confiscation if the lead developer doesn't like you/your actions because they're kind of his personal reward tokens.

Personally I'm not a fan.

it is news to me that you can sell brownies .... and why could them have affect on the price of bts ?
thought they are not at all conected ?
is there someone that could enlighten me ?

[BunkerChainLabs-DataSecurityNode]

You know what? Until BTS holders start providing liquidity this will continue to go down.

And BTS holders SHOULD otherwise their stake is going buh-bye anyways.

Good luck everybody.

Which comes first.. the utility or the liquidity? I think the problem with the liquidity is largely due to the lack of utility.. and this is largely due to the issues related to 1.0 in terms of usability. That pretty much puts the current situation in a freeze pattern.

I think as we see more utility you will start to see the liquidity coming up to match and in a competitive way. Utility proposition for BitShares in 2.0 is hand over first superior. If all features fire on all cylinders it will take off like a formula one. If we have a few not firing.. we still flash forward unlike anything seen in the past.

I will also take this opportunity to note that we offered the community a way to increase our liquidity tremendously with BunkerMining by voting in our delegates.. we didn't get the votes to get it done.. we got one delegate voted in which only serves to drag the project out for many months until there is enough for the work to be done. Vote http://vote.bunkermining.com if you still like to see our liquidity increase. We would like nothing more than to be pushing $50,000 bitUSD in payouts a day to miners vs. the few hundred a day at best we continue to operate at without being able to deliver consistent competitive performance. If we had been voted in way back when we first proposed we would be in a very different place today I assure you.

[bitmeat]

You know what? Until BTS holders start providing liquidity this will continue to go down.

And BTS holders SHOULD otherwise their stake is going buh-bye anyways.

Good luck everybody.

[Krills]

bts will reach 0.01 cny

[Pheonike]

I think bytemaster elaborating on how long the bank partnership is going to really take in last mumble is the cause of the dip over the past day.  People were anticipating something to happen this year with it.

[Ander]

I seriously doubt that selling 30k BTS for Brownies is the reason that BTS value is dropping..I don't think that people will start dumping BTS for Brownies..Especially when Brownies have absolutely no strings attached, haven't promissed officially any sharedrop of anything in the future and can magically dissapear from your wallet if BM chooses to..

On the contrary I would say that people started to dump Brownies in order to buy BTS..

Can somebody explain me why Brownies supply went from 8.2 millions to 9.2 millions this week?  I thought  bytemaster had stated before a week (hangout) that he had no intentions to dilute brownies (at least not for now).   Could it be one of the reason's we are one a downtrend? I mean how can somebody take seriously "statements" that after a week are practically taken back?

PS maybe they dump brownies because  the unexpected +1Million brownies dilution?

Expect brownies to be diluted to hell at any time.  There is no fixed supply, its all under bytemaster's control, he can gian hundreds of thousands of free bts for himself if he wants just by making and dumping brownies onto the orderbooks.

Not that he will, but he can.  because of this I dont really see it as an invesmtnet vehicle, to me its just a bonus item that you can get for doing good things for bitshares.  I'm not going to be buying brownies at 10bts or anything like that, ever.  I would buy some at 1 though.  I'll probably just hold the ones bytemaster gave me forever, and not sell or buy (unless they get SUPER cheap, then ill buy some).

[roselee]

who?

[dritz3r]

He will fool you every time.

Early investor

[Akado]

I seriously doubt that selling 30k BTS for Brownies is the reason that BTS value is dropping..I don't think that people will start dumping BTS for Brownies..Especially when Brownies have absolutely no strings attached, haven't promissed officially any sharedrop of anything in the future and can magically dissapear from your wallet if BM chooses to..

On the contrary I would say that people started to dump Brownies in order to buy BTS..

Can somebody explain me why Brownies supply went from 8.2 millions to 9.2 millions this week?  I thought  bytemaster had stated before a week (hangout) that he had no intentions to dilute brownies (at least not for now).   Could it be one of the reason's we are one a downtrend? I mean how can somebody take seriously "statements" that after a week are practically taken back?

PS maybe they dump brownies because  the unexpected +1Million brownies dilution?

It's a UIA, susceptible to changes so expect that. Also I believe - although I don't have anything to back this up - that most people don't even know about the existence of brownies. Only who hangs around in the forums and I think that doesn't represent a significant piece of BitShares stakeholders at all, there should be lots of other people out there.

[EstefanTT]

If I had more money to invest I would by a whole truck full of bts at these prices. I found it crazy that there is not a higher, stronger buyer wall.
With bts 2.0 about to launch it's the perfect time to buy.

[nomoreheroes7]

I can't believe it, but we're actually approaching our all time low of 0.0198 CNY. I imagine there should be quite a damn bit of resistance there...so anyone selling at this point is mad.

Final shakeout before the storm?

[liondani]

I seriously doubt that selling 30k BTS for Brownies is the reason that BTS value is dropping..I don't think that people will start dumping BTS for Brownies..Especially when Brownies have absolutely no strings attached, haven't promissed officially any sharedrop of anything in the future and can magically dissapear from your wallet if BM chooses to..

On the contrary I would say that people started to dump Brownies in order to buy BTS..

Can somebody explain me why Brownies supply went from 8.2 millions to 9.2 millions this week?  I thought  bytemaster had stated before a week (hangout) that he had no intentions to dilute brownies (at least not for now).   Could it be one of the reason's we are one a downtrend? I mean how can somebody take seriously "statements" that after a week are practically taken back?

PS maybe they dump brownies because  the unexpected +1Million brownies dilution?

[BunkerChainLabs-DataSecurityNode]

I agree that CNX is not going to abandon bitshares.

However, *the market* currently thinks there is a high chance that CNX is abandoning bitshares, thats why the price is down from over .05 CNY when the BTS 2.0 announcement came out, to .025 now.  Basically pricing in a 50% chance of 'devs are going to screw over all their investors and leave'. 


Until 2.0 actually releases, the market sees it as vaporware.  If the devs can actually get it out, everything is going to change.

The *market* doesn't seem to believe any of the announcements from 3rd parties who are building their entire businesses models on BitShares?

What evidence is there of BitShares being abandoned in any way?

Oh wait I get it.. you crafty devils.. trying to drive the price down more feeding the FUD so you can buy more cheap.

[Ander]

What are the odds the selling is from large CNX holders and they plan to announce an Ethereum App in the next few months?

Like Augur?

Maybe.

Graphene is a far superior platform but if Ethereum continues gaining popularity and network effect I wonder if there wouldn't be more incentive for CNX to build on top of Ethereum?

They might be able to raise a few million dollars with an Augur-style crowdfund and also have a larger market of customers.

That makes no sense.  Why do you need Bitshares on Ethereum if you have Augur?

 I don't follow Ethereum much but I thought Augur was just a prediction market.

CNX may want to put their own version of BitAssets onto Ethereum for example, like Rune is trying to do. Or perhaps a bond market.

The point is that if Ethereum gets the network effect then a company made up of talented developers like CNX who's interests aren't directly aligned with BTS may want to build profitable Apps on Ethereum.

And all the time they spent on BitShares would go to waste as they would give in to the competition? I mean, it's a possible scenario, I just don't see it happen. Not that soon at least. If they stayed by BitShares up until now, they won't go away that easily. But that's just me, who some could call naive, but I feel I can trust the devs. The current ones.

Hmm... Yes I think you're right, it's extremely unlikely that they would already consider that angle/outcome. I'm just surprised that there seems to be a lot of heavy BTS selling atm.

I agree that CNX is not going to abandon bitshares.

However, *the market* currently thinks there is a high chance that CNX is abandoning bitshares, thats why the price is down from over .05 CNY when the BTS 2.0 announcement came out, to .025 now.  Basically pricing in a 50% chance of 'devs are going to screw over all their investors and leave'. 


Until 2.0 actually releases, the market sees it as vaporware.  If the devs can actually get it out, everything is going to change.

[nomoreheroes7]

I'm just surprised that there seems to be a lot of heavy BTS selling atm.

It is surprising, but makes sense when you realize this is the accumulation phase (as luckybit pointed out)...it's pretty much a no-brainer that BTS is going to be worth more come closer to launch, so this would be an obvious time to build up a nice healthy stash before everyone else starts clamoring for BTS.