Bitshares price discussion

[jaran]

b) With the 2.0 launch Bitshares is basically saying we are going to compete with and potentially destroy central exchanges.

Any centralized exchange can join Bitshares and use it as their back end to reduce their costs, and can make money off referrals to refer their customers. 

So really we arent trying to destroy any centralized exchanges, just get them to join us.

Correct i meant exchanges that don't want to join because they will lose there inside info by being on a transparent ledger or simply because its a platform they don't fully control etc.  I agree it would be great if they all  joined, but if they dont want to then we are a threat.

[Ander]

b) With the 2.0 launch Bitshares is basically saying we are going to compete with and potentially destroy central exchanges.

Any centralized exchange can join Bitshares and use it as their back end to reduce their costs, and can make money off referrals to refer their customers. 

So really we arent trying to destroy any centralized exchanges, just get them to join us.

[jaran]

I'm not a trader at all but the following has crossed my mind since the 2.0 launch..

a) Central exchanges have access to inside info that allows them to manipulate the price of BTS if they wanted to.  Such as how many are long / short.  They can also put in fake orders / buys and nobody would ever know as long as both sides of the trade are fake.

b) With the 2.0 launch Bitshares is basically saying we are going to compete with and potentially destroy central exchanges.

So would it not be in the best interest of the central exchanges to get BTS so low that the project dies?  Could they crash the price if they really wanted to?

[ElRageO]

I look at things a bit differently. Some a* hole with a lot of bts is pushing the price down to gather more.

Eventually when said a* hole is happy they will allow the price to rise. They will then start the old p-n-d routine until everyone is properly screwed once again.

They will then have enough bts to create havoc on the bts platform as they will be a really big fish there. So we are basically transplanting/cloning some a* hole whales to the bts platform from polo

[Ander]

This all probably means its time to dump bts again or something, lol.

[Ander]

Whats with the gigantic sell wall at 1700 ?? is that there to help keep prices down ?

It is to make the # of shares for sale versus buy support look really bad, so that people will sell.  Because some people just compare sell vs buy support.

[ElRageO]

Whats with the gigantic sell wall at 1700 ?? is that there to help keep prices down ?

[Ander]

Agree with all this. In fact, I even margin longed BTS just now, 2.5x lol. My first time playing with margin, curious to see how it is. (only risking 5,000 BTS as collateral though, heh. Not looking to implode here).

Fortunately 5000 is basically nothing, so thats not really much of a risk.  But I hope our rise can be from real buying not just margin buys that will result in sells later.

Glad to see you're still with us Ander. Thought we might have lost you that other day.

Just trying to manipulate sentiment.

[nomoreheroes7]

BTS 2.0 is fine.  Its not perfect but its not like its seriously broken or anything that would warrant the selloff way below 1400.


* The Chinese exchanges (btc38/yunbi) fixed their problems and upgraded to 2.0, and reopened deposits and withdrawals.  No more being worried about fractional reserves or worried that they will never upgrade or might even try to stick with BTS 0.9 and make a fork chain or something crazy like that. 

* Chinese money can once again buy into BTS.

* Referral program is finally working, so people can begin promotions.

* We have some positive discussions going on about how to improve the things that people dont like about BTS, namely fees and UI stuff. 


And most importantly:  BTS is currently deflationary!!  The only worker right now is the fund to pay for user asset fees.  This is not an account that is going to get sent to polo or btc38 and dumped on the market, its to help people use assets, it doesnt represent any "real" inflationary pressure.  The rest of the potential inflation is going to the recycle400k worker which means its going straight back into the reserve and is also not inflationary.  Fees are exceeding the payment to witnesses, and with no workers actually taking BTS to be sold right now, real supply is going down!  That means everyone's BTS is slowly representing a larger stake of the whole system.  Very slowly right now, but whats really important is that its not inflating!


Also everyone panic sold about as hard as is possible, and people got liquidated, so most weak hands are probably out right now, and most of the people in BTS now are those that held through the drop and probably wont want to sell until its back up to reasonable prices, or smart money that bought the panic.

Agree with all this. In fact, I even margin longed BTS just now, 2.5x lol. My first time playing with margin, curious to see how it is. (only risking 5,000 BTS as collateral though, heh. Not looking to implode here).

Glad to see you're still with us Ander. Thought we might have lost you that other day.

[Ander]

BTS 2.0 is fine.  Its not perfect but its not like its seriously broken or anything that would warrant the selloff way below 1400.


* The Chinese exchanges (btc38/yunbi) fixed their problems and upgraded to 2.0, and reopened deposits and withdrawals.  No more being worried about fractional reserves or worried that they will never upgrade or might even try to stick with BTS 0.9 and make a fork chain or something crazy like that. 

* Chinese money can once again buy into BTS.

* Referral program is finally working, so people can begin promotions.

* We have some positive discussions going on about how to improve the things that people dont like about BTS, namely fees and UI stuff. 


And most importantly:  BTS is currently deflationary!!  The only worker right now is the fund to pay for user asset fees.  This is not an account that is going to get sent to polo or btc38 and dumped on the market, its to help people use assets, it doesnt represent any "real" inflationary pressure.  The rest of the potential inflation is going to the recycle400k worker which means its going straight back into the reserve and is also not inflationary.  Fees are exceeding the payment to witnesses, and with no workers actually taking BTS to be sold right now, real supply is going down!  That means everyone's BTS is slowly representing a larger stake of the whole system.  Very slowly right now, but whats really important is that its not inflating!


Also everyone panic sold about as hard as is possible, and people got liquidated, so most weak hands are probably out right now, and most of the people in BTS now are those that held through the drop and probably wont want to sell until its back up to reasonable prices, or smart money that bought the panic.

[Ander]

BTS just broke the bollinger band top for the first time in AGES and the sell side is withdrawing. Could be a quick ride to 0.000014 as first stop.  I'm buying at this point (About 100 BTC position)

Yeah I bought some too with some profits from trades the past several days.  Time for everyone that panic sold the bottom to fomo back in, lol!

[Portabello75]

BTS just broke the bollinger band top for the first time in AGES and the sell side is withdrawing. Could be a quick ride to 0.000014 as first stop.  I'm buying at this point (About 100 BTC position)

[werneo]

The main reason that BTS price dropped so low is that a bunch of community members lost all their BTS and all of that supply is now floating around out there in the hands of traders who dont really want it, who instead want BTC back.

That is a keen observation, and dead on true.

[Akado]

This is interesting...to hear strategies that BTS holders can use not just to HODL BTS...but take active steps to support BTS price with varies levels of risk.

Bondmarket 

[luckybit]

You can margin call with your own BTS, this is what I did just now.

For example, make a 100 000 BTS deposit and you can margin call (long in my case). Just be very careful to have a large marge (Est. Liquidation Price 175 in my case).

This is the way I found to buy BTS with no money. If you do it cleverly (say buy 10 000 BTS for a deposit of 100 000 BTS), it should be ok. If every BTS holder do it margin dumpers are dead.

This is exactly what everyone of us including BM should have been doing..The level of comfort depends to each of us..Since I didn't have much BTS and I wanted to support the price, I got margin long with my bts as collateral but unfortunately not having a lot of comfort I played a very risky game and lost big time..Someone with millions BTS may support the price by creating walls and have a lot of comfort not to get margin called since he would use for 1 mil BTS to buy 300k BTS and not 2.5 mil BTS..
We all want to trade eventually in our platform but until this is ready we could have supported the price in Polo, BTS become expensive, people want to learn what is BTS and gradually we move on from Polo to our DEX..

Instead of that even people preaching about BTS in here all the time, when they show the dumping started to dump as well and once the dumping starts it never ends..Even at this level and with BTC retracing there is no buy support in Polo..Hence in the future we will end up with a great product, "worthless" BTS and desperate hodlers who for the last two years have supported the project losing their money..

Anyway...

This is interesting...to hear strategies that BTS holders can use not just to HODL BTS...but take active steps to support BTS price with varies levels of risk.

Bytemaster should put it step by step in his blog then.