BitShares - why has it dropped like a rock

[stealth923]

Just out of curiosity, I dont own any Bitshares, but could someone please give a reason why the price has been dropping so fast?

Is it just the hype of the release then everone sold or is there something more sinister at play?

Thanks.

[1715283186]

1715283186

[r0ach]

Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts.  There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time.  When they remove 200btc buy support, market usually just instantly crashes.  Pretty much any coin on Poloniex is a complete fugazi due to stuff like this.  They never should have added leveraged trading because none of these coins have liquidity to support it.

You can toss in a short then immediately remove 200btc buy support and just automatically get paid.  Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now.  Poloniex thinks it's a great idea because they increase volume, but it will probably just kill off their entire user base.  If the risk is always way higher than the reward, people will just stop trading at all.

[erre]

Just out of curiosity, I dont own any Bitshares, but could someone please give a reason why the price has been dropping so fast?

Is it just the hype of the release then everone sold or is there something more sinister at play?

Thanks.

I think that's about they fussing about graphene and hyperbolic speed for bitshares 2.0, that was simply not true.

[sumantso]

Its just market - enjoy the roller coaster. It will recover soon enough, that what whales do.

Personally I have stopped accumulating since Dan dreamed up his hare brained Brownie scheme, and it has been a lot better simply short term trading to make profit.

[l8orre]

And then of course, there is this:

https://bitsharestalk.org/index.php/topic,17354.0.html

What are Brownie Points Good for?

Technically all Brownie Points mean is that you are on my good side.  Brownie Points are not redeemable for anything and do not create any obligations between me and anyone else.   BROWNIE.PTS is a tool that allows me to keep track of everyone who is in my good favor and to what extent.   You will want to make sure you claim your BROWNIE.PTS because it would just be rude to refuse the BROWNIE.PTS and one day you may regret it; Karma can be a Bitch.       

No Obligations

BROWNIE.PTS is merely a tool for my own use and I may choose to stop issuing brownie points at any time for any reason.   I may reward them (or not) as I see fit, in the amounts I see fit, for the reasons I see fit.   I may also seize brownie points from any account if you fall out of favor and anyone who complains in any way about how Brownie Points are issued or how I use Brownie Points is certainly not in my favor and may lose any Brownie Points they have earned.   

And this:


https://bitsharestalk.org/index.php/topic,19042.msg244950.html#msg244950

I did not contact that particular exchange individually. 

We gave the whole world NOTICE 30 days in advance and made posts on the proper threads where all upgrade announcements are posted.

[translation:]
 How ​dare​ those impertinent imbeciles not​ follow our most generously timed proclamations!!

NO BROWNIE POINTS!!!


Meaning that Bitshares is nothing but an inherently flawed corporate token that is peddled by a bunch of really arrogant elitists.

In the Bitschares design, there are delegates, and there are lesser participants.

Which begs the question: Who are these anointed ones? And who anoints them?

[tokeweed]

Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts.  There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time.  When they remove 200btc buy support, market usually just instantly crashes.  Pretty much any coin on Poloniex is a complete fugazi due to stuff like this.  They never should have added leveraged trading because none of these coins have liquidity to support it.

You can toss in a short then immediately remove 200btc buy support and just automatically get paid.  Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now.  Poloniex thinks it's a great idea because they increase liquidity, but it will probably just kill off their entire user base.  If the risk is always way higher than the reward, people will just stop trading at all.

So would you advice people to buy and invest in BTS?

[Habeler876]

Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts.  There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time.  When they remove 200btc buy support, market usually just instantly crashes.  Pretty much any coin on Poloniex is a complete fugazi due to stuff like this.  They never should have added leveraged trading because none of these coins have liquidity to support it.

You can toss in a short then immediately remove 200btc buy support and just automatically get paid.  Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now.  Poloniex thinks it's a great idea because they increase liquidity, but it will probably just kill off their entire user base.  If the risk is always way higher than the reward, people will just stop trading at all.

So would you advice people to buy and invest in BTS?

Buying for investing, yes.

Buying with margin, no.

[Spoetnik]

crap launched and supported by clowns who are taking your money.

don't be low hanging fruit (AKA: a bag holder)

[cisahasa]

is there any coin that havent dropped? no.

[Scamlarimer]

We here at bitchshares are proud to announce

Applesauce points.

What are applesauce points? They bring that woo woo [ thank you bubbrubb] back into crypto. Applesauce points are given out by ME to people that make awesome comments on btt.

Expect applesauce points to be merged into bts3.0

Now, who wants some applesauce points?

Roach Im tossing a ten pack in your direction.

And then of course, there is this:

https://bitsharestalk.org/index.php/topic,17354.0.html

What are Brownie Points Good for?

Technically all Brownie Points mean is that you are on my good side.  Brownie Points are not redeemable for anything and do not create any obligations between me and anyone else.   BROWNIE.PTS is a tool that allows me to keep track of everyone who is in my good favor and to what extent.   You will want to make sure you claim your BROWNIE.PTS because it would just be rude to refuse the BROWNIE.PTS and one day you may regret it; Karma can be a Bitch.       

No Obligations

BROWNIE.PTS is merely a tool for my own use and I may choose to stop issuing brownie points at any time for any reason.   I may reward them (or not) as I see fit, in the amounts I see fit, for the reasons I see fit.   I may also seize brownie points from any account if you fall out of favor and anyone who complains in any way about how Brownie Points are issued or how I use Brownie Points is certainly not in my favor and may lose any Brownie Points they have earned.   

And this:


https://bitsharestalk.org/index.php/topic,19042.msg244950.html#msg244950

I did not contact that particular exchange individually. 

We gave the whole world NOTICE 30 days in advance and made posts on the proper threads where all upgrade announcements are posted.

[translation:]
 How ​dare​ those impertinent imbeciles not​ follow our most generously timed proclamations!!

NO BROWNIE POINTS!!!


Meaning that Bitshares is nothing but an inherently flawed corporate token that is peddled by a bunch of really arrogant elitists.

In the Bitschares design, there are delegates, and there are lesser participants.

Which begs the question: Who are these anointed ones? And who anoints them?

[tat123]

Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts.  There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time.  When they remove 200btc buy support, market usually just instantly crashes.  Pretty much any coin on Poloniex is a complete fugazi due to stuff like this.  They never should have added leveraged trading because none of these coins have liquidity to support it.

You can toss in a short then immediately remove 200btc buy support and just automatically get paid.  Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now.  Poloniex thinks it's a great idea because they increase liquidity, but it will probably just kill off their entire user base.  If the risk is always way higher than the reward, people will just stop trading at all.

I'm watching polo all the time, and this is exactly what is happening. It's not only BTS, it's any coin with volume. The trolls on Polo are a bunch of guys who play poker together all the time and know each others moves. Throw TA out the window, and learn troll-speak, or just hodl and hope your coin breaks free of the manipulators. As it stands... margin trading will give an opportunity for a move or two up, based on whatever the news is about, but a lot more opportunities will be on the way down. Bleeding the remaining hold outs, or believers. Has anything really changed from the miners, devs, or early adopters dumping?

[r0ach]

I'm watching polo all the time, and this is exactly what is happening. It's not only BTS, it's any coin with volume. The trolls on Polo are a bunch of guys who play poker together all the time and know each others moves. Throw TA out the window, and learn troll-speak, or just hodl and hope your coin breaks free of the manipulators. As it stands... margin trading will give an opportunity for a move or two up, based on whatever the news is about, but a lot more opportunities will be on the way down. Bleeding the remaining hold outs, or believers. Has anything really changed from the miners, devs, or early adopters dumping?

Which is why I had to exit BTS while I was still up in profit.  It was far too risky to stay in with all these clowns trying to manipulate with 500-1000btc in their pockets adding then removing 200+ btc staggered walls constantly.  Then when the staggered buy walls are removed and buy side drops in half or less, immediately a ton of staggered shorts pop up on sell side with coins they don't even own and just pay some miniscule interest for to manipulate.  Poloniex claims they are "anti-manipulation" lol.  Margin in illiquid markets serves zero purpose other than to manipulate.  Every coin on that exchange with margin enabled is a death trap.

[tokeweed]

Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts.  There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time.  When they remove 200btc buy support, market usually just instantly crashes.  Pretty much any coin on Poloniex is a complete fugazi due to stuff like this.  They never should have added leveraged trading because none of these coins have liquidity to support it.

You can toss in a short then immediately remove 200btc buy support and just automatically get paid.  Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now.  Poloniex thinks it's a great idea because they increase liquidity, but it will probably just kill off their entire user base.  If the risk is always way higher than the reward, people will just stop trading at all.

So would you advice people to buy and invest in BTS?

Buying for investing, yes.

Buying with margin, no.

lol. k...

[Nxtblg]

Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts.  There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time.  When they remove 200btc buy support, market usually just instantly crashes.  Pretty much any coin on Poloniex is a complete fugazi due to stuff like this.  They never should have added leveraged trading because none of these coins have liquidity to support it.

So that short squeeze turned into a successful bear raid. So it goes in the altcoin jungle...

[Nxtblg]

Just out of curiosity, I dont own any Bitshares, but could someone please give a reason why the price has been dropping so fast?

Is it just the hype of the release then everone sold or is there something more sinister at play?

Thanks.

I think that's about they fussing about graphene and hyperbolic speed for bitshares 2.0, that was simply not true.

Yep, just like a halving. "Pump on the PRE-ANN, dump on the ANN."

[Nxtblg]

Which is why I had to exit BTS while I was still up in profit.

Meself, I sold half but kept half. (sigh.)

[tokeweed]

is there any coin that havent dropped? no.

Spoken like a true bagholder.

[NattyLiteCoin]

(1) margins called
(2) BTC rise
(3) shakey release
(4) poor UI / not intuitive to use
(5) philosophically, very complex to the average guy or gal
(6) sharks that don't give a fuck about tech, and will eat you

I'm almost about to cut the losses as BTC will be growing over the next 4 months, I'm usually wrong so you should buy, hold, sell or do nothing.

[MikeCoin]

is there any coin that havent dropped? no.

Spoken like a true bagholder.

Agreed all but bitcoins always fails :/

[tokeweed]

is there any coin that havent dropped? no.

Spoken like a true bagholder.

Agreed all but bitcoins always fails :/

Didn't say that.  But ok...