Author Topic: Congratulations to BTS holders, back to the 7th place  (Read 6184 times)

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Offline cylonmaker2053

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Empirical1 is the oracle on this one.  Spot on.  If you think that LTC is going back to where it was last month, then your head is in the sand:

http://cointelegraph.com/news/114791/litecoin-shows-there-is-a-simple-fix-for-spam-attacks-on-bitcoin

Markets love depth and transparency while they despise indecision.  If Charlie Lee wants to fork LTC, then he can without having to defer to any Litecoin Foundation.  The who's in charge of bitcoin code, and where/who/what is Satoshi and why is he not answering my calls is not reassuring for traditional investors.

Compared to the bitcoin drama over the past few months, LTC is a breath of fresh air.

good article on LTC and i agree with you on it having value as a less-headache-prone alt to BTC

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Offline Akado

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Are there any charts where we can get the volume per exchange? I mean, the same way we have coinmarketcap list all the coins with their volume, do you know any place we can get the same but showing the exchanges instead?

It would be nice so we could really see if this kind of things happens when European/Asian exchanges get more volume
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Offline cylonmaker2053

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I have to agree with this. Too often we all want to put a reason behind every price jump and drop, but in the end it's all just smoke and mirrors, big players playing on smaller players' hypes/fears and everyone just going all out nutso looking to make a profit any way they can. It's literally chaos in its purest, most free-market form. Truly a beautiful sight to behold.


exactly...very well stated all around. we're always trying to come up with simple explanations for things that could either be completely random, or have complex causes that we'll never really know. markets are plagued with these biases bc we see the final output--price--doing things that look like there are discernible patterns. if anyone's written a random walk generator before you'll know that completely random processes can easily look like they're following a pattern, or predictable path.

Offline Empirical1.2

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All the old altcoins that dont do anything are being pumped.
Anything with actual potential and features is down or only up slightly.

So dumb.

Currencies up, companies down in a crisis as expected.

Btce is also getting a lot of the deposit inflows, so their currencies are up the most.

Control of STR, BTS & XRP is far too centralised too be of much value in a crisis too. (How much would BTS be worth if the CNX offices were raided tomorrow? - Ergo no value in this situation.)

What are you talking about?  This is a bogus statement... so then we should see NXT go up as well according to this logic.

Yes NXT is not getting much love and you're right to point it out. It's actually up 16% for the last week, while XRP, BitShares and Stellar are all down. However that was because of one NXT news pump & it has been decreasing since, similarly Dogecoin was pumped slightly pre-crisis but has failed to gain traction since.


I believe it's the prospect of Greek capital controls, we witnessed a similar situation after Cryprus, crypto-currencies really took off.

In terms of percentage gains LTC & DGC could be the big winners,  followed by NXT & possibly PPC etc, then Bitcoin itself.

The one's that will increase but benefit the least from the Greece effect would be Ripple, BitShares, Stellar, MaidSafe and Ethereum if it's trading.


However my crisis currency bucket is up an average of more than 50% with all showing gains (Much more for me being heavily weighted to LTC and then also PPC once I understood the btce influence thanks to CLout) While STR and BTS are down 15% in that time and XRP has been flat.

This is even more surprising given the great news XRP had with RBS and the great work that is going into BTS 2.0 on the BitShares side.
MAID is up over the period but I believe that is actually news related in that they are very close to releasing something, I think I read in another thread but I'm not sure. 

Edit - Why I was much more heavily weighted to LTC...

Litecoin is still considered the next crypto-currency should Bitcoin run into problems and is also coming up to a block reward halving which could significantly reduce selling pressure. Combined I wouldn't be surprised to see the LiteCoin rally continue strongly. 

Capital controls this weekend possibly for Greece could be good for all crypto too if it actually happens this time.

There you go empirical.  It was all false.  No real rationale except lit coin was a pump n dump

 :D  I stated just yesterday that Litecoin was obviously in bubble territory and that I would be happy selling 30% off the highs. And here we are today...


... a perfect storm which is now feeding itself and sucking up BTC  and Alt-coin speculators. It's obviously in very bubbly territory now. 

Just like the last LTC rise, which was also logical at the time. I got in early so I don't mind where the top is, even if I end up selling 30% off the highs, I'll still be a very,very happy man  8) 8) 



That doesn't disprove my approach and my basket in question is still vastly out performing XRP, BTS & STR by 20-1.

However I would say Clout has been closer to the truth


Bitcoin and litecoin are going to rise because there will be a great deal of demand from Europe particularly on the BTC-e exchange which is based out of Bulgaria, the northern neighbor to Greece. All currencies on BTC-e will probably rise dramatically and any currencies where the exchange is predominantly denominated in BTC will also rise. The problem is that the primary market for bitshares is denominated in CNY and as result BTS won't get a boost from BTC price increase. More problematic is that seeing this rise in LTC and BTC Chinese traders will dump currencies they primarily trade (i.e Ripple, Doge and BTS) in order to ride the BTC and LTC waves. If you already sold BTS or Ripple good for you. If you're looking for a buying opportunity here's your change. If you're HODL keep on keeping on.

He accurately sidelines DGC from the recent moves and though he doesn't mention it, NXT is predominantly CNY based which is perhaps why it has not got much love either. 


I should note that the key factor which fed the initial rally via btce - the problems in Greece - is still in place, so I wouldn't be surprised to see the uptrend for btce based currencies resume after the pullback.
« Last Edit: July 10, 2015, 01:44:15 pm by Empirical1.2 »
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Offline Chuckone

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I'm sorry for those who got burned with LTC! I wouldn't have liked being the unaware who bought at the highest, but in a sense don't play with fire if you don't want to get burned. I made a comment (an obvious one!) yesterday about the fact that a serious correction was about to happen with LTC and that investors were bound for a solid hangover. There's always a loser with these kinds of pumps, and usually it's the small time investor.

Predictable. But sad nonetheless.

Offline nomoreheroes7

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-snip-


There you go empirical.  It was all false.  No real rationale except lit coin was a pump n dump

I have to agree with this. Too often we all want to put a reason behind every price jump and drop, but in the end it's all just smoke and mirrors, big players playing on smaller players' hypes/fears and everyone just going all out nutso looking to make a profit any way they can. It's literally chaos in its purest, most free-market form. Truly a beautiful sight to behold.

Offline topcandle

All the old altcoins that dont do anything are being pumped.
Anything with actual potential and features is down or only up slightly.

So dumb.

Currencies up, companies down in a crisis as expected.

Btce is also getting a lot of the deposit inflows, so their currencies are up the most.

Control of STR, BTS & XRP is far too centralised too be of much value in a crisis too. (How much would BTS be worth if the CNX offices were raided tomorrow? - Ergo no value in this situation.)

What are you talking about?  This is a bogus statement... so then we should see NXT go up as well according to this logic.

Yes NXT is not getting much love and you're right to point it out. It's actually up 16% for the last week, while XRP, BitShares and Stellar are all down. However that was because of one NXT news pump & it has been decreasing since, similarly Dogecoin was pumped slightly pre-crisis but has failed to gain traction since.


I believe it's the prospect of Greek capital controls, we witnessed a similar situation after Cryprus, crypto-currencies really took off.

In terms of percentage gains LTC & DGC could be the big winners,  followed by NXT & possibly PPC etc, then Bitcoin itself.

The one's that will increase but benefit the least from the Greece effect would be Ripple, BitShares, Stellar, MaidSafe and Ethereum if it's trading.


However my crisis currency bucket is up an average of more than 50% with all showing gains (Much more for me being heavily weighted to LTC and then also PPC once I understood the btce influence thanks to CLout) While STR and BTS are down 15% in that time and XRP has been flat.

This is even more surprising given the great news XRP had with RBS and the great work that is going into BTS 2.0 on the BitShares side.
MAID is up over the period but I believe that is actually news related in that they are very close to releasing something, I think I read in another thread but I'm not sure. 

Edit - Why I was much more heavily weighted to LTC...

Litecoin is still considered the next crypto-currency should Bitcoin run into problems and is also coming up to a block reward halving which could significantly reduce selling pressure. Combined I wouldn't be surprised to see the LiteCoin rally continue strongly. 

Capital controls this weekend possibly for Greece could be good for all crypto too if it actually happens this time.

There you go empirical.  It was all false.  No real rationale except lit coin was a pump n dump
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Offline BunkerChainLabs-DataSecurityNode

I don't see why marketcap is so significative. You have like 6 coins within $1M range of BitShares marketcap, how is that significative? Plus, we all know these are just pumps.

So on one side you have a few coins with a marketcap higher than BitShares
On the other side, you have an actual platform which isn't just an alt, with infrastructure (assuming 2.0 is delivered smoothly).

I just don't see what's to worry about

Well stated and agree.  +5%
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Offline cylonmaker2053

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The merger and addition of dilution significantly damaged BTS's value as currency however, those actions are perfectly acceptable when BTS is viewed as a competitive and adaptive crypto-company. 

Very true, it made it seem too decentralized.  Litcoin never had anyone declare that there would be 25% more litecoins, so it gets to go up 400% when greece has a meltdown. :P

Once 2.0 is released Bitshares should become much more decentralized.

Once 2.0 is released it could be huge. I like everything about it. I'm just hoping to have less exposure to BTS & more to currencies until they get closer to releasing it. I am still a bit concerned how much BTS, CNX combined control especially given DPOS voter apathy & whether the market will still think it's a bit too centralised.

However as TopCandle points out NXT is not getting much love and I would have thought it would have performed better if my ideas of how the market views currencies were correct.

you're right, there's risk in the 2.0 release and the new CNX structure..that's something we should acknowledge, even though i'm still super bullish on BTS.

Offline Akado

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I don't see why marketcap is so significative. You have like 6 coins within $1M range of BitShares marketcap, how is that significative? Plus, we all know these are just pumps.

So on one side you have a few coins with a marketcap higher than BitShares
On the other side, you have an actual platform which isn't just an alt, with infrastructure (assuming 2.0 is delivered smoothly).

I just don't see what's to worry about
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Offline Empirical1.2

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The merger and addition of dilution significantly damaged BTS's value as currency however, those actions are perfectly acceptable when BTS is viewed as a competitive and adaptive crypto-company. 

Very true, it made it seem too decentralized.  Litcoin never had anyone declare that there would be 25% more litecoins, so it gets to go up 400% when greece has a meltdown. :P

Once 2.0 is released Bitshares should become much more decentralized.

Once 2.0 is released it could be huge. I like everything about it. I'm just hoping to have less exposure to BTS & more to currencies until they get closer to releasing it. I am still a bit concerned how much BTS, CNX combined control especially given DPOS voter apathy & whether the market will still think it's a bit too centralised.

However as TopCandle points out NXT is not getting much love and I would have thought it would have performed better if my ideas of how the market views currencies were correct.

If you want to take the island burn the boats

Offline Ander

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The merger and addition of dilution significantly damaged BTS's value as currency however, those actions are perfectly acceptable when BTS is viewed as a competitive and adaptive crypto-company. 

Very true, it made it seem too decentralized.  Litcoin never had anyone declare that there would be 25% more litecoins, so it gets to go up 400% when greece has a meltdown. :P

Once 2.0 is released Bitshares should become much more decentralized. 
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Offline Empirical1.2

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I think its wrong for people to see BTS only as a company and not as a store of value.  BTS serves the same function in the Bitshares blockchain as Bitcoin does in the bitcoin blockchain.  It just also does more.


The merger and addition of dilution significantly damaged BTS's value as currency however, those actions are perfectly acceptable when BTS is viewed as a competitive and adaptive crypto-company. 

BTC and a host of other crypto-currencies on the other hand have performed like digital versions of gold and silver & have been immutable since inception, so BTC holders are not worried about a merger or a change to the currency creation schedule.   
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Offline Ander

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I think its wrong for people to see BTS only as a company and not as a store of value.  BTS serves the same function in the Bitshares blockchain as Bitcoin does in the bitcoin blockchain.  It just also does more.

But yes, btc-e is getting a lot of the pump money, so btc-e coins are going up.  BTS is mostly traded on btc38, so for it to get pumped money needs to go there. 

Its sad that for all these altcoins, their value is determined mostly by whales pumping them, who probably arent long term believers in the coin or part of the community. 
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