Bitshares price discussion

[tonyk]

graphene  2015 thinks the price is going down more.

[Tuck Fheman]

so m00n! 

[Ander]

Sometimes I imagine it in this (oversimplified and exaggerated) way...

• There is a limited supply of BTS, held by a variety of people.
• 90% of the supply is being HODLed, and would never be sold at silly prices such as those we are seeing currently.
• 7% of the supply is being used by people internally for various purposes.
• 3% of the supply is churning around being traded on external exchanges, bringing profit to some , and losses to others as it gets pumped and dumped. All the while the prices at which this 3% are being exchanged have been dropping.
• This 3% of churning BTS started out at 40% of the supply, but has gradually been absorbed into the pockets of HODLers. Maybe in reality there is solid support building for BitShares, but it is being obscured by a small percentage of BTS cycling around between traders/poloniex 'margineers'/non-HODLers...

Does anyone think there could be elements of truth in this story?

If 90% is in the hands of hodlers, we are screwed

It seems like 10% is in the hands of hodlers, 10% is in the hands of devs and insiders who continually sells some to pay bills, and 80% is in the hands of whales who want out to get btc.

[lil_jay890]

Sometimes I imagine it in this (oversimplified and exaggerated) way...

• There is a limited supply of BTS, held by a variety of people.
• 90% of the supply is being HODLed, and would never be sold at silly prices such as those we are seeing currently.
• 7% of the supply is being used by people internally for various purposes.
• 3% of the supply is churning around being traded on external exchanges, bringing profit to some , and losses to others as it gets pumped and dumped. All the while the prices at which this 3% are being exchanged have been dropping.
• This 3% of churning BTS started out at 40% of the supply, but has gradually been absorbed into the pockets of HODLers. Maybe in reality there is solid support building for BitShares, but it is being obscured by a small percentage of BTS cycling around between traders/poloniex 'margineers'/non-HODLers...

Does anyone think there could be elements of truth in this story?

If 90% is in the hands of hodlers, we are screwed

[tonyk]

Sometimes I imagine it in this (oversimplified and exaggerated) way...

• There is a limited supply of BTS, held by a variety of people.
• 90% of the supply is being HODLed, and would never be sold at silly prices such as those we are seeing currently.
• 7% of the supply is being used by people internally for various purposes.
• 3% of the supply is churning around being traded on external exchanges, bringing profit to some , and losses to others as it gets pumped and dumped. All the while the prices at which this 3% are being exchanged have been dropping.
• This 3% of churning BTS started out at 40% of the supply, but has gradually been absorbed into the pockets of HODLers. Maybe in reality there is solid support building for BitShares, but it is being obscured by a small percentage of BTS cycling around between traders/poloniex 'margineers'/non-HODLers...

Does anyone think there could be elements of truth in this story?

@hadrian my true and only love,

I wish I wish, but days like this make me doubt it.

[Tuck Fheman]

Does anyone think there could be elements of truth in this story?

Most everyone I've known for more than 100 post are BTS hodlers.

I'm always trying to accumulate more (so beware), no matter how I can accomplish it (legally).

If I can't get paid in BTS, I find other ways to obtain it.

Taking advantage of days like this is one way.

[Tuck Fheman]

This was a bit of a problem for many with the distribution of NXT. This may be a selling point for BitShares if newcomers realize they can undercut the prices paid by the original BitShares holders!

 

[hadrian]

In long run.. this low price could be useful for bitshares. Bitcoin thanks to it's quick rise will give whole cryptocurrencies world a lot of new attention. People will try to find other coin which is right now bellow it's value.

that is way we have to be very active community right now. We have to report bugs, help others with questions... and we have to remember... that right now there is good time to buy lifetime membership.

It suppose to cost ~$100, but right now price is not updated... and 20000 is something like $75-80

I hope you're right!
I'd like to add that some people don't like to buy proof-of-stake cryptos if they feel like they're giving their money to the lucky and rich early adopters. This was a bit of a problem for many with the distribution of NXT. This may be a selling point for BitShares if newcomers realize they can undercut the prices paid by the original BitShares holders!

[noisy]

In long run.. this low price could be useful for bitshares. Bitcoin thanks to it's quick rise will give whole cryptocurrencies world a lot of new attention. People will try to find other coin which is right now bellow it's value.

that is way we have to be very active community right now. We have to report bugs, help others with questions... and we have to remember... that right now there is good time to buy lifetime membership.

It suppose to cost ~$100, but right now price is not updated... and 20000 is something like $75-80

[Portabello75]

So it's true that double spending 1.0/2.0 is a thing?

Hello Portabello youre new so let me explain what happened. About 11 months ago BM had the genius idea to create a second genesis block that gave 30 million vesting BTS (no strings attached of course) to 1 guy for the purpose of adding voting services to BitShares. Because apparently blockchain voting is a huge market. That one guy has to constantly dump his millions of BTS to pay taxes, because they are due on the price you received an asset.

That sounds like the dumbest thing in the history of crypto. Well, I guess I'll wait til close-to-zero value before maybe picking some up. I had a sizeable chunk (5 mil) at 0.0014 but ditched them when I saw sell side balloon and buy side shrink.

[hadrian]

Sometimes I imagine it in this (oversimplified and exaggerated) way...

• There is a limited supply of BTS, held by a variety of people.
• 90% of the supply is being HODLed, and would never be sold at silly prices such as those we are seeing currently.
• 7% of the supply is being used by people internally for various purposes.
• 3% of the supply is churning around being traded on external exchanges, bringing profit to some , and losses to others as it gets pumped and dumped. All the while the prices at which this 3% are being exchanged have been dropping.
• This 3% of churning BTS started out at 40% of the supply, but has gradually been absorbed into the pockets of HODLers. Maybe in reality there is solid support building for BitShares, but it is being obscured by a small percentage of BTS cycling around between traders/poloniex 'margineers'/non-HODLers...

Does anyone think there could be elements of truth in this story?

[speedy]

So it's true that double spending 1.0/2.0 is a thing?

Hello Portabello youre new so let me explain what happened. About 11 months ago BM had the genius idea to create a second genesis block that gave 30 million vesting BTS (no strings attached of course) to 1 guy for the purpose of adding voting services to BitShares. Because apparently blockchain voting is a huge market. That one guy has to constantly dump his millions of BTS to pay taxes, because they are due on the price you received an asset.

Lol wut? Are u retarded by chance? wtf

For not dumping before the merger? Probably.

[Helikopterben]

I think we are probably looking at a false breakout to the downside here... aka a bear trap.  I wouldn't be surprised to see a quick reversal back to the 1300 range... maybe a bit of consolidation down here first.

[FIAThater]

So it's true that double spending 1.0/2.0 is a thing?

Hello Portabello youre new so let me explain what happened. About 11 months ago BM had the genius idea to create a second genesis block that gave 30 million vesting BTS (no strings attached of course) to 1 guy for the purpose of adding voting services to BitShares. Because apparently blockchain voting is a huge market. That one guy has to constantly dump his millions of BTS to pay taxes, because they are due on the price you received an asset.

Lol wut? Are u retarded by chance? wtf

[Akado]

All the alts are having a bad day today as the price of bitcoin keeps going up.

I think we're witnessing a realignment of the crypto economy. Bitcoin is showing signs of a big breakout after a year of flat prices. This could be the end of a two-year cycle that started with the collapse of bitcoin prices in December 2013. While we have been hodling BTS for two years, potential crypto investors have spent the last two years studying the implications of blockchain technology.

Right now, BTC price is rising because Chinese citizens are trading yuan for bitcoin. Chinese holders of renminbi need a safe haven in their slowing economy where the renminbi is being devalued. Potentially, a whole lot of interested parties with lots of investment capital may finally get the FOMO needed to push the price of BTC over $10,000.

Meanwhile, BTS early adopters are getting hammered by the recent 70% drop in prices as other adopters trade their bts to buy bitcoin.

BTS holders should keep hodling while they root for bitcoin. Once the price of BTC jumps back above $1000, it will be a mad rush into existing 2.0 projects. The price of bts will go north fast.

Thing is if bitcoin drops or maintains this price, BTS will likely not go up