Bitshares price discussion

[EstefanTT]

Aplollo 1 ?

[karnal]

Unavoidable

[Akado]

We are going to hit new ATH any day. BTS is set to explode.


I'll see you all on mars. I'll be MIA until then.

Such a plot twist if this happens ahah

[godzirra]

We are going to hit new ATH any day. BTS is set to explode.


I'll see you all on mars. I'll be MIA until then.

Wow. What a surprise.

[Tuck Fheman]

[lzr1900]

result oriented the best strategy was:
instead of removing our sell orders (or moving them higher)
adding buy orders much lower !!!

Grats to whoever had buy orders ready on the orderbook 

If people had added a bunch of buy orders this never would have happened.  It was the lack of sufficient buy orders on the books that caused it.

That and the fact that cagara had 250 btc left and every long was completely tapped out.

I did my part.

Big Fat Liar!

the order is 2h old

We will see.

[tonyk]

result oriented the best strategy was:
instead of removing our sell orders (or moving them higher)
adding buy orders much lower !!!

Grats to whoever had buy orders ready on the orderbook 

If people had added a bunch of buy orders this never would have happened.  It was the lack of sufficient buy orders on the books that caused it.

That and the fact that cagara had 250 btc left and every long was completely tapped out.

I did my part.

Big Fat Liar!

the order is 2h old

[lzr1900]

result oriented the best strategy was:
instead of removing our sell orders (or moving them higher)
adding buy orders much lower !!!

Grats to whoever had buy orders ready on the orderbook 

If people had added a bunch of buy orders this never would have happened.  It was the lack of sufficient buy orders on the books that caused it.

That and the fact that cagara had 250 btc left and every long was completely tapped out.

I did my part.

[jsidhu]

Haha man this is comical

[tonyk]

We are going to hit new ATH any day. BTS is set to explode.


I'll see you all on mars. I'll be MIA until then.

are you 12 mil bts long now?

anyway, I consider this as destructive for bts, as  youbeing 12 mil short...
In other words until we either take your 320 btc or you give up on having a position, my job is not done.

[Blazin8888]

We are going to hit new ATH any day. BTS is set to explode.


I'll see you all on mars. I'll be MIA until then.

[werneo]

downtrend continues...

[jsidhu]

A warning to anyone lending out BTS on polo right now:

Normally lending is pretty safe.  (Basically you are risking the exchange getting goxxed, just like if you are keeping them on an exchange as normal).

But right now we have a weird scenario where one insane guy (cagara) is trying to borrow and short way more BTS than one person should reasonably have as a position, and more than the market's orderbooks could really handle at one time.   Worse, he apparently just keeps adding more to it when it goes against him.


What could happen if BTS starts to rise is this:

BTS buys drive the price up and clear a lot of the sell orders out of the orderbook.  Seeing the rise, more sellers pull their orders.  Sell side declines significantly.

Cagara's short becomes at a greater loss, and eventually he gets margin called.  However, he is short so much that the amount can no longer be filled near the market price, because 6 million or more BTS buy will drive the price up MASSIVELY, especially after some buy clear out a lot of it.

The result is that cagara's margin call might drive the market up so much that his remaining btc is not actually sufficient to buy enough back, leaving him sitting with a BTS short remaining open but no capital.
At this point the lender cannot get their BTS back.


The lending rates are really low right now.  You should NOT be taking this risk of the margin liquidation of this insane individual causing him to be unable to repay your lended BTS!  I have pulled all my lending BTS (and am withdrawing each day). 


Withdrawing lending BTS also keeps him from continuing to suppress the price with more shorts, if everyone does it.  At the very least you should be asking for 1-2% daily to cover the risk you are taking, and also bleed him for his manipulation of the BTS price.


In normal situations lending can be a good idea to get a bit of free coins, but this is not a normal situation, and lending at .02% like some people are doing is lunacy.

6M isn't a lot, it would currently drive price to 3k satoshi only, and 17M required to get to 4500 satoshi, remember alot of people aren't sitting around watching price all day, if it happens it will happen quickly and before these guys come and remove their orders. It would probably make th emarket jump 200-300 satoshi at once nothing more. But I think his position may be bigger since hes been shorting for a week, and he throws 40 btc like its  a small chunk of his portfolio so it will be funny but i dont get why he would short so much with so little wiggle room, its like throwing away money..

So I was right... the way he threw 40 btc made me think his bag was bigger and it was (I guessed it was about 10% of his entire short portfolio putting myself in his shoes)... he just said he was short 12M at 2700, that was about 350 BTC and the reason why he didnt care about wiggle room was cause he was prepared to bring in more btc to short more, he pulled in another 250 btc prepared to short further and avoid margin call...


anyways now he says hes long at 2k satoshi.

[jsidhu]

Yea, this is exactly why I could never do margin. The markets are so damn small and reactionary that half the time it seems like a coin flip which way it could go. And it's way too easy for whales to push the price wherever they want it to go.

I'm happy to just hodl and wait.

I shouldve stuck to my no margin plan.  Its too damn tempting.
Actually I think I'm up overall using it however, but I mostly have one large gain and like three different 1-2 btc losses.  There is a lot of risk of a big loss too.

For a month there it seemed like everything I did in ETH and then BTS worked out and I couldnt lose, and then in the past two weeks it changed and everything I've tried in either ETH or BTS has been wrong. :p

Heh like I said earlier you will be 50/50 mostly over an infinite amount of time however your brain gives you an edge usually of a few % that if you apply with proper money management will allow you to trade successfully.. I dont trade because I know it will be near 50/50 and I dont have the time to apply MM and monitor my trades and setups, so I just buy and hold because I know i wont miss out on any big move up.

[Akado]

Don't know why people act so emotionally to this. What's the problem? If you were in that position, you would probably do the same. It's just about making money, nothing else.

It makes sense to send the price as low as possible before a pump to get more cheaper, create a massive bear trap, etc. Even if those aren't the reasons, whatever the market decides, happens. 1 person can't possibly turn the whole market around if you reach $1M or $2M in volume I think.


Bright side, have people thought BitShares can possibly be caught in two pumps? One now and the other in 8 months when Bitcoin halves. Of course this is pure speculation but there are actually chances of happening. Now if we give more context and realize that during this period of these two pumps, you will have more partners joining, developing, crowdfunding and sharedropping stuff, we can see the potential of where we can go in just the next 8 months.

[Oct13(2.0 release)---------Nov--------Dec-------Jan----Fev--------Mar--------April--------May--------June---------July---------August (Bitcoin halving) -----]
[---Assuming we launch smoothly we will have development, more partners, sharedrops and crowdfundings during this whole time ---]

This is a very positive insight, of course nothing of this can happen, but given these circumstances and that BitShares already hit rock bottom, meaning we can only go up, what's there not to like about it? I see a bright future in the next year assuming everything goes smooth with our launch. Call it wishful thinking but that's something that comparing with other possible outcomes, can also have a significant chance of happening.

We launch smoothly
We get major exposure at:
- Web Summit
- China Blockchain Summit
More Partnerships
More Sharedropps
More crowdfundings
Meanwhile we already have Banx, LottoShares and Peertracks doing their thing too
Assuming the price rises with 2.0 launch, more money for development
Another possible price increase during Bitcoin halving, that, again, even if it isn't significant, it can help even more development

May or may not happen but it has a much more better chance of happening comparing with the past. It's something we can possibly expect now, something to consider. Of course it will be a bumpy ride but so what if the price drops a few times? it has to drop, you can't possibly expect to be a straight line from here to 6000 or 7000 satoshis. Things take time and we are on a good path. Let's enjoy it.


But making a scene just because we had a dump... lol