Author Topic: Bitshares price discussion  (Read 887113 times)

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Offline btswildpig

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Not sure what u guys are seeing as we keep legging lower.  Recently there were a lot of shorts covered on the dex for bitcny.  Whoever did this seems to have sold all their freed up collateral plus everything else they owned.  It looks like they used btc38 to do the dumping. It looks like 1 person or a small group colluded to set off a big slide while the order book was extra thin.  We just lost a whale. Hopefully it was someone in china who maybe had racked up big losses in the Chinese stock market and just needed cash flow to meet a margin call....

who says it has to be stock leverage trading ? There are BTC and LTC too   :P
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Offline Buck Fankers

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Offline mdj

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Pump and dumps, only without the pump for bitshares

Offline lil_jay890

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Not sure what u guys are seeing as we keep legging lower.  Recently there were a lot of shorts covered on the dex for bitcny.  Whoever did this seems to have sold all their freed up collateral plus everything else they owned.  It looks like they used btc38 to do the dumping. It looks like 1 person or a small group colluded to set off a big slide while the order book was extra thin.  We just lost a whale. Hopefully it was someone in china who maybe had racked up big losses in the Chinese stock market and just needed cash flow to meet a margin call....

Offline BunkerChainLabs-DataSecurityNode

Okay who here managed to get some of that while it was crazy cheap.

I managed to snag about 100k off the dex at 240.per 1 bitUSD :)

It all went really fast.. then started to bounce back.
« Last Edit: July 16, 2015, 05:25:52 am by DataSecurityNode »
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Offline Shentist

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same pattern like a couple of days but different direction

all coins traded on BTC38 are sold heavily!

- so, good opportunities to trade something here!

Offline Ander

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Also, whoever sold the low (probably not anyone who reads the boards, I'm sure), get rekt!
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Offline Ander

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Okay who here managed to get some of that while it was crazy cheap.
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Offline BunkerChainLabs-DataSecurityNode

Wow, everything on btc38 getting absolutely hammered right now.

I guess thats why BTS down a bunch.

.0365, the 50% fib retracement line, got broken in this selloff.  .618 retracement line is at .0320. 
Its sad that BTS continues to get no support.  I guess no one trust it at all and they just think the 2.0 claims are hot air/vaporware.  We really need 2.0 to release ,and be good.

I don't feel like its a lack of support, but more like a lack of opportunity to trade. There are some other hot movers with liquidity where they can try and grow their portfolio until 2.0 comes.
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Offline Erlich Bachman

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Lets recap - when the bts price falls you want to be long bitUSD, those who are short bitUSD need to margin up or cover at a loss.  If the BTS prices rises (say for example due to fantastic news), then bitUSD shorts laugh until bitUSD longs holding worthless bit-paper get pissed and dump their bitUSD on the market.  And if there are no buyers of bitUSD, then the shorters lose their positions one by one. 

The shorters "lose their positions" by buying the bitUSD to cover the short, ending up with more BTS than they started, and BTS has increased in price?  How is that bad?  Thats exactly what they hoped would happen in the first place.

I don't understand what you are getting at.

Yes, when the amount of BTS that you can get for selling bitUSD is decreasing rapidly (BTS price rise), the shorters will lose their short positions if there is a panic selling of bitUSD and no offers at the feed.  The shorts pick up their profit but then the BTS price continues to rise to new all time highs while they are sleeping. Then in the morning, they wake up to find the BTS price in orbit, but their short positions were called away just over the launch pad (realizing only a tiny profit).  So, there, you go Mr. Shorty, you shorted all the way down from $100,000,000 market cap purchasing BTS collateral the whole way down, and losing your ass on paper, and when the BTS price returns back up to the all time high, your short positions get called away at $25,000,000 market cap.  You wake up to see that BTS is trading at an all time high, and yet you have only realized a fraction of the profit that the bond lender, who issues the bond at the BTS low (then sold the bitUSD at today's market rate) and buys bitUSD when the BTS price returns to the all time high does.  He realizes the full profit. Then he liquidates the bond and proceeds to Barbados.  What happened shorty?  you should have bought moonswan protection for whatever the going bond rate was at the time, because only those who are bonded (insured against sudden volatile price rises that call shorts to arbitration) get to moonwalk.

I'll pay you 4% annually on your bitUSD so that I can short sell it and not have to worry about forced liquidation.

Am I making sense.  I want to go short and not have to worry about my position getting triggered while I'm on permanent vacation. I already have guaranteed risk, I want guaranteed returns, not arbitrary returns based on forced arbitration.  Until the bond market is open, however, I am fighting with other shorts to remain the most collateralized (chop chop Danny Boy).

I want to catch the next leg up in crypto, and not watch my position get called away prematurely.  What's the matter, you don't think that BitShares will ever surpass its all time high that it hit immediately following the release of its initial proof of concept?  cool, well, then go ahead and loan me your bitUSD.

Or maybe you think that when a big name company climbs aboard our smartchain, and all anyone can talk about is how much more exciting the Bitcoin2.0 space is than last year, that bitUSD holders are going to stay put in their obviously poor positions, allowing the short position days, weeks, and months to re-collateralize their position.  I'm just not that guy.

The smartcoin short rules require me to insure my position if I want guaranteed profit margins, but you can avoid the bond market and accept variable profit margins on your position.  The risk is yours to take.
« Last Edit: July 16, 2015, 03:38:32 am by Erlich Bachman »
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Offline Krills

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rubbish
2.0 is far away and not within the foreseeable future
shitty
announced 2.0 at 6.8,and now is 7.16,with nothing but hotair and useless news.
they can't release even a testnet and a stable 1.0.
how can we count on them do something big in summer?
« Last Edit: July 16, 2015, 03:33:13 am by Krills »

Offline lil_jay890

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Wow this is getting shitty again... Welcome back to April...

Offline Ander

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Really, #10 on CMC now?  You'll never get a better time relative to other coins than this.
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Offline Ander

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I noticed BTS withdrawal is disabled on BTER this could also be causing a downward pressure.

I dont think that would effect btc38 though.


Buy now ~3.20ish.  Serious dumping just happened, very oversold.
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Offline Brekyrself

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I noticed BTS withdrawal is disabled on BTER this could also be causing a downward pressure.