Author Topic: Bit20 - The cryptocurrency index fund  (Read 19469 times)

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Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #15 on: December 23, 2016, 04:55:48 pm »
Publisher [member=5333]Fox[/member] set MSSR=150%,others 110%,why?

Nice catch, it's 110. It will be adjusted. Thanks 天籁 !
Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #16 on: December 23, 2016, 05:26:29 pm »
Amazing!! many congrats!  +5%  +5%  +5%

I hope we can find some shorters for this market!

Shorters are coming at the party. Cautiously thought !

Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline yvv

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Re: Bit20 - The cryptocurrency index fund
« Reply #17 on: December 23, 2016, 05:37:21 pm »
It is actually a good time to short, since it is traded at over 100% premium from peg. You can short bit20 now, buy underlying altcoins, then wait when bit20 price drop to peg price and settle debt with profit.

Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #18 on: December 28, 2016, 09:16:39 pm »
It is actually a good time to short, since it is traded at over 100% premium from peg. You can short bit20 now, buy underlying altcoins, then wait when bit20 price drop to peg price and settle debt with profit.

It's indeed a good time to short (not an investment advice). The index is trading way above the feed price.
It has it's logic when you consider it has been growing quite steadily since its creation. With that said, I don't believe the price will drop back to the peg. I imagine it will keep trading above but probably not that much above.

Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline Fox

Re: Bit20 - The cryptocurrency index fund
« Reply #19 on: December 29, 2016, 05:38:11 am »
Publisher [member=5333]Fox[/member] set MSSR=150%,others 110%,why?
Sorry [member=5185]天籁[/member] my pricefeed parameter was incorrect and has now been updated to 110% as requested by [member=32961]EstefanTT[/member]. Thank you for noting my oversight.

Point of information: The Graphene default for "maximum_short_squeeze_ratio" is %1500 (150%), so I needed to explicitly supply the requested value within my transaction construction.
Witness: fox

Offline yvv

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Re: Bit20 - The cryptocurrency index fund
« Reply #20 on: December 29, 2016, 09:10:33 pm »
It is actually a good time to short, since it is traded at over 100% premium from peg. You can short bit20 now, buy underlying altcoins, then wait when bit20 price drop to peg price and settle debt with profit.

It's indeed a good time to short (not an investment advice). The index is trading way above the feed price.
It has it's logic when you consider it has been growing quite steadily since its creation. With that said, I don't believe the price will drop back to the peg. I imagine it will keep trading above but probably not that much above.

The market actually needs a "whale" to short 0.2 bit20 to correct the price. Tiny amount.

Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #21 on: January 01, 2017, 10:44:38 pm »
There is maybe an opportunity here.

Bittwenty just went from 2588$ to 3378$ in the last 3 weeks. If there is a correction following this fast growth, shorters could potentially make nice ROI.

Another reason is the fact that the index is trading much higher at the moment that the actual feed price !



( The above references are for information purposes only. They are not intended to be investment advices. )
« Last Edit: January 01, 2017, 10:46:19 pm by EstefanTT »
Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #22 on: January 22, 2017, 03:52:50 pm »


On the 21st day of every month, Bit20 runs an algorithm that creates its new composition. By this process, it always includes the most promising coins. Some coins appear in the index and others disappear. Some of them gain weight and other lose some of it. This new composition swap with the previous one without any disturbance of the index price.

We have run this operation yesterday. Here is the new composition of the Bit20 Index Fund:

BTC / 10 % / 0.3854773219037 coins / 895.6 USD
ETH / 10 % / 32.498852891548 coins / 10.62294385125 USD
LTC / 10 % / 88.565054250129 coins / 3.8980779995 USD
XMR / 10 % / 28.92826512812 coins / 11.93412352825 USD
ETC / 10 % / 257.36612183967 coins / 1.34141 USD
DASH / 10 % / 22.706874335723 coins / 15.2039195 USD
MAID / 5.605192749948 % / 1657.516765057 coins / 0.116746949 USD
REP / 5.1693273075855 % / 40.288558071114 coins / 4.4296072885 USD
STEEM / 3.924900604758 % / 846.10289746884 coins / 0.16014684925 USD
ICN / 3.5907407484569 % / 318.64586951525 coins / 0.389035 USD
XEM / 3.3896076556812 % / 32963.365811923 coins / 0.00355002 USD
FCT / 2.6409348553145 % / 32.059506452613 coins / 2.843896418 USD
WAVES / 2.4919257838923 % / 366.25962013247 coins / 0.234887 USD
DOGE / 2.3550144139601 % / 394851.50216399 coins / 0.00020590775 USD
ZEC / 2.2434315986638 % / 1.7798610600765 coins / 43.515066239 USD
DGD / 1.8400299274678 % / 7.3251924026494 coins / 8.67199 USD
GNT / 1.7529318236962 % / 3003.3288850863 coins / 0.02015 USD
XLM / 1.7311981425606 % / 25350.785156319 coins / 0.00235759 USD
LSK / 1.678530301772 % / 373.9432348432 coins / 0.154966 USD
USDT / 1.5862340862431 % / 54.761565259618 coins / 1.00001 USD

The composition is sent in the BitShares Blockchain so the witnesses can read it and publish the price in the decentralised exchange. This system guarantees decentralisation and prevent any market manipulation. Here it is:
http://cryptofresh.com/tx/e07772ffc581ca5d64d0c58bffa91be5a2b8113d

You will find on the website the composition with the updated price of each coin and the total value of the index



Next, a glance at the state of the market since its creation on the BitShares Decentralised Exchange



We are currently working on tracking data from Bit20 market to create a review of the coins movements inside the index, the volume traded, the trends of buyers and sellers and lots of other interesting information. We'll have this report ready in the course of the next months and will publish it on a regular basis.


Don't hesitate anymore and have a look on the Bit20 market !!!





« Last Edit: February 21, 2017, 12:35:23 pm by EstefanTT »
Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #23 on: February 01, 2017, 08:33:48 pm »
Market settings changes

Hello dear traders and investors,

Bit20 has been evolving nicely since it's inception in December 2016. We are happy to observe that traders are buying and selling much higher than the "theoric" index price.

Why is that ?

Well, simply because they saw what Bit20 has performed very well in the last 18 months and deduce they can buy it even with a 50% premium, it's still a good investment with lots of potentials.

This market has been created with some very specific settings. These settings have been adjusted before the market was born.
Now that we have seen the price stabilising around 140% of the theoric asset price, we can adjust the market settings to fit better its trading environment.

2 changes:

The MSSR: When a shorter have its collateral falling below 175% of the price feed, a margin call will happen. A buy order will be automatically created in the market to buy back its undercollateralized asset(s).
This process guarantee that all smartcoins on the BitShares decentralised exchange are always well collateralised.

The MSSR is set at 110% at the moment. This would be good for gold or dollars because they are traded close to the price feed. No need then to buy back much higher.

In our Bit20 market, the asset is traded around 140% of the price feed. A buy back at 110% wouldn't be bought anytime soon. We will increase this value progressively until it reaches a value where it can be bought. It will be somewhere between 120% and 140%

What does it change for you concretely?

Really not much.

For the buyer, nothing at all.

For the shorter, you still can borrow BTWTY with the usual 175% collateral, the only difference is the price of the margin call if your collateral falls under the limit. If you are aware of what you do when you short BTWTY, that limit shouldn't be reached. If it is, the price you will be margin call will probably be around the one you sold and maybe cheaper, the spread is still wide. We won't raise this value until the point it is discouraging shorters, our goal is to incentive as many as possible!

Second change. After receiving some requests, we will enable the force settlement setting.
This option allows anyone with BTWTYs to force the market to buy the asset(s) they own at the price feed. The fact that this market is traded much higher than the theoric price feed make this option irrelevant because it's  easy to sell at a better price than the price feed. 

In order to let everyone consider this information, we will wait for 48h before operating any change.

Happy trading!
« Last Edit: February 16, 2017, 12:52:52 pm by EstefanTT »
Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline yvv

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Re: Bit20 - The cryptocurrency index fund
« Reply #24 on: February 02, 2017, 05:21:15 am »
Quote
Second change. After receiving some requests, we will enable the force settlement setting.
This option allows anyone with BTWTYs to force the market to buy the asset(s) they own at the price feed. The fact that this market is traded much higher than the theoric price feed make this option irrelevant because it's  easy to sell at a better price than the price feed.

Forced settlement may be usefull if someone wants to settle larger amount than currently offered on the market. Just make max forced settle volume not too small and not too large.

And by the way, if you make MCR 150%, we will have the same leverage as on poloniex, 2.5x.
« Last Edit: February 02, 2017, 06:27:35 am by yvv »

Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #25 on: February 16, 2017, 12:56:10 pm »
Quote
Second change. After receiving some requests, we will enable the force settlement setting.
This option allows anyone with BTWTYs to force the market to buy the asset(s) they own at the price feed. The fact that this market is traded much higher than the theoric price feed make this option irrelevant because it's  easy to sell at a better price than the price feed.

Forced settlement may be usefull if someone wants to settle larger amount than currently offered on the market. Just make max forced settle volume not too small and not too large.

And by the way, if you make MCR 150%, we will have the same leverage as on poloniex, 2.5x.

Bittwenty is volatile just like BTS. We can expect wild swings when they will go in opposite direction. I feel 150 MCR is very few collateral.
Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #26 on: February 21, 2017, 12:34:17 pm »
Bit20 - The cryptocurrency index fund [2017/02/21 - revision]



On the 21st day of every month, Bit20 runs an algorithm that creates its new composition. By this process, it always includes the most promising coins. Some coins appear in the index and others disappear. Some of them gain weight and other lose some of it. This new composition swap with the previous one without any disturbance of the index price.

We have run this operation yesterday. Here is the new composition of the Bit20 Index Fund:

BTC / 17516781304 USD / 10 % / 0.35764448027206 coins / 1082.98 USD
ETH / 1093988858 USD / 10 % / 31.535251112308 coins / 12.282185985 USD
LTC / 188177083 USD / 10 % / 102.66118427817 coins / 3.7728165905 USD
XMR / 170694161 USD / 10 % / 31.650453499685 coins / 12.2374808705 USD
DASH / 153665136 USD / 10 % / 17.929543009296 coins / 21.602436774 USD
ETC / 108423625 USD / 10 % / 318.04402578721 coins / 1.2178245395 USD
MAID / 87362348 USD / 8.1295085045543 % / 1631.1009486613 coins / 0.193043602 USD
XEM / 58631261 USD / 5.4559354898777 % / 32438.02977186 coins / 0.0065145845 USD
REP / 55544720 USD / 5.1687172330017 % / 39.646480494174 coins / 5.04952 USD
ICN / 30309495 USD / 2.8204518652732 % / 313.56761845392 coins / 0.348385 USD
STEEM / 27511086 USD / 2.5600457488451 % / 848.35863859789 coins / 0.11688 USD
FCT / 25827208 USD / 2.4033523811069 % / 31.548575757129 coins / 2.950595373 USD
WAVES / 24585200 USD / 2.2877772525776 % / 360.42254994703 coins / 0.245852 USD
DOGE / 22263906 USD / 2.0717691009358 % / 390097.07064559 coins / 0.000205703 USD
ZEC / 21920735 USD / 2.0398353030596 % / 2.5509586535325 coins / 30.9716004 USD
GNT / 20447381 USD / 1.9027322586998 % / 2955.4649081203 coins / 0.0249358305 USD
ARDR / 15447786 USD / 1.4374946477347 % / 3600.6194692076 coins / 0.015463257 USD
XLM / 14379854 USD / 1.3381181717695 % / 25183.78837 coins / 0.002058 USD
LSK / 12733358 USD / 1.1849033882713 % / 372.73925570135 coins / 0.123126 USD
GAME / 12888699 USD / 1.1993586542928 % / 219.16845517392 coins / 0.21195467 USD

The composition is sent in the BitShares Blockchain so the witnesses can read it and publish the price in the decentralised exchange. This system guarantees decentralisation and prevent any market manipulation. Here it is:
http://cryptofresh.com/u/bittwenty.feed

You will find on the website the composition with the updated price of each coin and the total value of the index



Next, a glance at the state of the market since its creation on the BitShares Decentralised Exchange



We are currently working on tracking data from Bit20 market to create a review of the coins movements inside the index, the volume traded, the trends of buyers and sellers and lots of other interesting information. We'll have this report ready in the course of the next weeks and will publish it on a regular basis.


Don't hesitate anymore and have a look on the Bit20 market !!!





Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline EstefanTT

Re: Bit20 - The cryptocurrency index fund
« Reply #27 on: March 21, 2017, 06:40:30 pm »
Bit20 - The cryptocurrency index fund [2017/03/21 - revision]



On the 21st day of every month, Bit20 runs an algorithm that creates its new composition. By this process, it always includes the most promising coins. Some coins appear in the index and others disappear. Some of them gain weight and other lose some of it. This new composition swap with the previous one without any disturbance of the index price.

We have run this operation yesterday. Here is the new composition of the Bit20 Index Fund:

BTC / 17078016203 USD / 10 % / 0.71737160102544 coins / 1052.425 USD
ETH / 3902138422 USD / 10 % / 17.403091633042 coins / 43.3819359875 USD
DASH / 717509157 USD / 10 % / 7.5515538083525 coins / 99.97675 USD
XMR / 319067298 USD / 10 % / 33.482640328029 coins / 22.5483952225 USD
LTC / 203245289 USD / 10 % / 186.74837820383 coins / 4.042765 USD
ETC / 174312828 USD / 10 % / 389.40794953477 coins / 1.9387888925 USD
XEM / 125694023 USD / 7.6246819628123 % / 41217.813889948 coins / 0.0139660025 USD
REP / 91378026 USD / 5.543051053745 % / 50.377328222237 coins / 8.3070932175 USD
MAID / 79586715 USD / 4.8277823865975 % / 2072.5801242003 coins / 0.1758618725 USD
ZEC / 66460478 USD / 4.0315362318102 % / 4.159935940413 coins / 73.1676759125 USD
GNT / 45441247 USD / 2.7564958786354 % / 3755.4007978812 coins / 0.055416155 USD
STEEM / 45195613 USD / 2.7415955589181 % / 1071.36165308 coins / 0.193198 USD
FCT / 31138767 USD / 1.8888980511756 % / 40.087617107078 coins / 3.5574074725 USD
ICN / 30978873 USD / 1.8791987761531 % / 398.43886601788 coins / 0.356079 USD
WAVES / 28453000 USD / 1.7259776615464 % / 457.97570806653 coins / 0.28453 USD
LSK / 25866417 USD / 1.569073838479 % / 479.12906531574 coins / 0.24724425 USD
DCR / 25329008 USD / 1.5364742556894 % / 18.632346478303 coins / 6.22577 USD
DOGE / 25137413 USD / 1.5248519771928 % / 497450.57362211 coins / 0.0002314265 USD
MLN / 19391789 USD / 1.1763186529161 % / 2.7451064224628 coins / 32.352 USD
ARDR / 19354616 USD / 1.1740637143292 % / 4575.174959717 coins / 0.019374 USD

The composition is sent in the BitShares Blockchain so the witnesses can read it and publish the price in the decentralised exchange. This system guarantees decentralisation and prevent any market manipulation. Here it is:
http://cryptofresh.com/u/bittwenty.feed

You will find on the website the composition with the updated price of each coin and the total value of the index



Next, a glance at the state of the market since its creation on the BitShares Decentralised Exchange



We are currently working on tracking data from Bit20 market to create a review of the coins movements inside the index, the volume traded, the trends of buyers and sellers and lots of other interesting information. We'll have this report ready in the course of the next weeks and will publish it on a regular basis.


Don't hesitate anymore and start trading on the Bit20 market !!!





Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline MarkoPaasila

Re: Bit20 - The cryptocurrency index fund
« Reply #28 on: March 24, 2017, 12:49:34 pm »
How much should I be ready to pay for Bit20 in terms of USD? What will the price be when markets are efficient and price discovery has happened? Do you expect it to continue trading above feed price?

Offline mea123

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Re: Bit20 - The cryptocurrency index fund
« Reply #29 on: April 01, 2017, 04:43:31 pm »
How much should I be ready to pay for Bit20 in terms of USD? What will the price be when markets are efficient and price discovery has happened? Do you expect it to continue trading above feed price?

if we dont have liquidity, I want bother to buy into, regardless the price, what good does it do, when price rise but you cant sell. get the liquidity in order and you will have a viable market, I promise
I own a few BIT20 but I do not even bother to look at it, why should I, can buy cant sell for some time to come, takes days or weeks ..there is not a market, its monopoly, just monopoly is over after a few hours, its sad, because I love the idea a lot