Author Topic: Why BitShares is being delisted from Bittrex?  (Read 11496 times)

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Offline CryptoNo0b

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Why BitShares is being delisted from Bittrex?
« on: October 03, 2017, 07:22:28 am »


Just found out that Bittrex will delete BTS market on 13th, Oct 2017
As we can see, price has reacted badly in sight of this news  :-X

I'm wondering if anyone has information about why it's being taken off of Bittrex?

Offline suandi1986

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Re: Why BitShares is being delisted from Bittrex?
« Reply #1 on: October 03, 2017, 09:09:27 am »
i got this from my whatsapp group:


Hold your BTS, never sell at loss
« Last Edit: October 03, 2017, 09:20:54 am by suandi1986 »

Offline CryptoNo0b

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Re: Why BitShares is being delisted from Bittrex?
« Reply #2 on: October 03, 2017, 09:26:34 am »
i got this from my whatsapp group:


Hold your BTS, never sell at loss

Hmm, I hope it's true  :-\

Offline bertflup

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Re: Why BitShares is being delisted from Bittrex?
« Reply #3 on: October 03, 2017, 04:09:51 pm »

 I am not so sure about this, when Bittrex say they going to delete then they will delete the coin.
 If there was a technical issue, then they had communicate with the dev about the issue, before listen this delete message.
 Me personally are not having a positive feeling, but as i say thats my feeling.

 Good luck all, but be careful because we can drop hard and lose allot of money.

Offline CryptoNo0b

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Re: Why BitShares is being delisted from Bittrex?
« Reply #4 on: October 03, 2017, 06:48:46 pm »

 I am not so sure about this, when Bittrex say they going to delete then they will delete the coin.
 If there was a technical issue, then they had communicate with the dev about the issue, before listen this delete message.
 Me personally are not having a positive feeling, but as i say thats my feeling.

 Good luck all, but be careful because we can drop hard and lose allot of money.

You're right. BTW; it's now confirmed that BitShare market will be deleted on the 13th of Oct, 2017
Just saw BitShare's tweet confirming this, if anyone's interested, here's the link to tweet.
https://twitter.com/bitshares/status/915256354499125248

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Offline mcoin

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Re: Why BitShares is being delisted from Bittrex?
« Reply #6 on: October 03, 2017, 11:54:09 pm »

Offline yvv

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Re: Why BitShares is being delisted from Bittrex?
« Reply #7 on: October 04, 2017, 12:40:08 am »
http://stockemperor.com/currencies/sec-purges-cryptocurrencies/

Quote
Bitshares is largest from these cryptos, holds $155 mln in capitalization and fell in just a few minutes by a 24%, while Draco’s price decreased 60% and DAR -58%. This means effectively death for these virtual online coins and big losses for unlucky investors.

This is bullshit. Many crypto coins experienced similar fall more than once, and they are still far from being dead.

Offline moinyoin

Re: Why BitShares is being delisted from Bittrex?
« Reply #8 on: October 04, 2017, 12:21:25 pm »
1. No one knows why. There has been no reason given by Bittrex at all. They stated they cannot give reasons or assurances on what is delisted.

2. There was no 51% attack and it's very resistant to such attacks. dPoS is designed to specifically resist concentration of wealth with Pareto principle by splitting power to 27 (currently) equally weighted witnesses who are fired if misbehaving. According to dpos white paper, it actually requires 2/3+1 witnesses to resolve all cases, so it's more resistant than 51%.

3. There was no ICO, afaik bitshares was distributed completely via processes like PoW and airdrops in projects it was created from. Therefore, it literally can't be a security. There's not even a company in charge that might've raised that money because it's governed by the very first DAO.

4. We don't know if it was targeted only due to having the word "shares" in title which means little.

5. We can just as easily speculate that bitshares, unlike etheruem, is too decentralized and poses risk to their platform, so it was delisted in fear of competition. The adoption by Bitspark with UN deal might've caused too much fear in its future. Again, speculation like any other.

6. Until China closed all the exchanges responsible for 80% of BTS volume, bittrex was barely even top 10 in importance. The timing of this seems very specific to weakened state its market value is in, but speculation.
« Last Edit: October 04, 2017, 12:23:39 pm by moinyoin »

Offline jckj

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Re: Why BitShares is being delisted from Bittrex?
« Reply #9 on: October 04, 2017, 03:19:26 pm »
Because bts lack value suproting ,less user and app growing. If dpos less value ,users and app suproting it means no using no value. btc can get value from very big group of users like facebook's shares.

Few users for dpos meas centralized bts , big group more than 100 million users may can call decentralized bts
« Last Edit: October 04, 2017, 03:35:15 pm by jckj »

Offline CryptoNo0b

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Re: Why BitShares is being delisted from Bittrex?
« Reply #10 on: October 04, 2017, 04:01:17 pm »
This is bullshit. Many crypto coins experienced similar fall more than once, and they are still far from being dead.

I'm sure it won't be dead either, but look at the price man  :'( I'm heavily invested and believe me, I'm already down 1000's of dollars.
Well, I've decided to hold no matter what. Hopefully, things will start to settle down once it's finally deleted from Bittrex and hopefully, Polo wo'nt do the same anywhere in the near future, because if it does then only God knows where the price will land.  :-X Now is the time to show some strength BTS community.

Offline severo

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Re: Why BitShares is being delisted from Bittrex?
« Reply #11 on: October 04, 2017, 06:42:51 pm »
We have to use more Dex, why the hell is not used massively? it is stupid to rely on centralized exchanges.

Offline Stan

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Re: Why BitShares is being delisted from Bittrex?
« Reply #12 on: October 05, 2017, 04:33:33 pm »
We have had our lawyers check with the SEC, there is nothing going on with BitShares there.

There is no memory problem, they've been listing BTS for years.

There is no volume problem, we're in the Top Ten.

Latest back channel info is that BitShares has no supporting development team, yet GitHub shows tons of worker updates and the Telegram witness channel is alive with continuing coordination among very serious technical people.  Further, I average a couple articles a week on Steemit.com/[member=6]Stan[/member].  Not to mention this forum, the BitShares DEX and HERO telegram channels and that all bytemaster's chains benefit from his current work on EOS which I choose to view as a giant BitShares R&D program.  Wouldn't have been hard at all to find a dozen active BitShares leaders to ask about any such concern.  I'm not exactly low profile myself.



I'm sure they will figure out a better excuse tomorrow.

I know a lot of exchanges are threatened by the movement toward transparent order books on decentralized exchanges - likely to be embraced when TXSRB.org finishes its negotiations with the American SEC.

BitShares has a nice inside track there, having been chosen by Stokens.com as the clean coin DEX on which it will build it's franchise of fully compliant jurisdiction-specific exchanges.

Yeah.  That might have certain nefarious centralized exchanges a bit worried...
« Last Edit: October 05, 2017, 05:42:52 pm by Stan »
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline whiskeybravo

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Re: Why BitShares is being delisted from Bittrex?
« Reply #13 on: October 05, 2017, 11:48:06 pm »
Thanks Stan for chiming in.

How did Bitshares fare when you assessed yourselves against the Coinbase "Securities Law Framework for Blockchain Tokens"

https://docs.google.com/spreadsheets/d/1QxOV2dgxO3C_TyVE0-41ZwLlzPmB-EE1NNshJGuedCU/edit#gid=0

https://www.coinbase.com/legal/securities-law-framework.pdf

Its been stated that Bitshares is not a security and does not fit this criteria.  It would be helpful and more clear if someone could check off the point scale in the framework  so folks are clear on the characteristics of how Bitshare is not a security.

Some have also raised concerns about the name being misleading and potentially attracting scrutiny because of its resemblance to security "shares".

Your thoughts?

Bittrex has also provided their policy for why they may delist coins.  https://support.bittrex.com/hc/en-us/articles/202583874?input_string=delisting+of+bts-btc.

They state:

"We look for coins that have high community demand, innovations to crypto-currency technology, or a contribution to science and humanity. We believe in aggressively taking chances on coins and letting the free market sort out which coins should thrive.

Bittrex reserves the right to keep or remove any market from its exchange.

Markets which are more eligible for removal include but are not limited to:

- Markets with less than 0.5 BTC (or equivalent) of average daily volume over a 7 day period and have been on Bittrex for 4 weeks or more.
- Markets that consistency dip below the minimum volume requirement.
- Markets with 0 daily volume.
- Markets with low liquidity. Less that 15 BTC on the Buy side of the order book for Bitcoin markets.
- Coins with no developer support or public developments.
- Coins without working blockchains.
- Coins which do not adhere to their target block times.
- Coins with weak blockchain security. e.g. Low hash rates which can be exploited.
- Coins which violate our policies.
- Coins which have compliance issues."

I don't think Bitshares falls into any of these categories except perhaps compliance.

Thoughts Stan?

Offline Stan

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Re: Why BitShares is being delisted from Bittrex?
« Reply #14 on: October 06, 2017, 02:42:46 am »
Yes, Bittrex looks pretty silly on this one, but that's their business.

Some people are willing to flush their company's reputation for short term gains, I guess.

I'll take a look at those test cases and maybe do a Steemit post on it.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.