Bit20 - The cryptocurrency index fund [ANN]

[EstefanTT]

Just buy something that will track this soon economic Cambrian explosion.

A promising investment I would say

The market is growing nicely, you will be able to say to your grand children that you has been on of the first persons to buy BTWTYs when it was only around 3k/BTWTY back in the days !!!

[1713550247]

1713550247

[mostar]

Hello,

Very interesting asset.

I'm interesting to buy some!
But before I need to fill that my investment is safe.

You wrote on your site FAQ:

How secure is BTWTY ?

BTWTY is a smartcoin in the BitShares blockchain and does possess the same properties as the core asset BTS. We can agree that Blockchain technology has demonstrated so far that is more reliable than centralised online exchanges.
Can you plase clerpy what mecanisve protcet my from

Can you please clarify (or point me to more info) regarding the protection I have as investor in the asset in case on bankruptcy etc.

Thank you

[EstefanTT]

Hello,

Very interesting asset.

I'm interesting to buy some!
But before I need to fill that my investment is safe.

You wrote on your site FAQ:

How secure is BTWTY ?

BTWTY is a smartcoin in the BitShares blockchain and does possess the same properties as the core asset BTS. We can agree that Blockchain technology has demonstrated so far that is more reliable than centralised online exchanges.
Can you please clearly what mechanism protect my from

Can you please clarify (or point me to more info) regarding the protection I have as investor in the asset in case on bankruptcy etc.

Thank you

That's a very good question Mostar !

SmartCoins in the BitShares ecosystem, Bit20 for example,  always have 100% or more of their value backed by the BitShares core currency, BTS, to which they can be converted at any time at an exchange rate set by a trustworthy price feed. In all but the most extreme market conditions, SmartCoins are guaranteed to be worth at least their face value (and perhaps more, in some circumstances). Like any other cryptocurrency, SmartCoins are fungible, divisible, and free from any restrictions.

You'll find the whole explanation in this page of the website BitShares.org that explain how the BitUSD and other smartcoin collateral works. In the case of BitUSD the value is pegged to the dollar, in the case of Bit20 the value is directly created by the witnesses. The collateral system that guarantees your asset is exactly the same.

Have a look, you 'll find it completely reassuring: https://bitshares.org/technology/price-stable-cryptocurrencies/

[cakravothy]

if you want post about annoucment thread your coin
you can post in annocument altcoin section https://bitcointalk.org/index.php?board=159.0
in marketplaced altcoin i think only selling, bouny twitter campaign,facebook campaign , signature campaign, pay use altcoin

[Crypto Girl]

while there are some huge exchanges around, another exchanges alike but i can say "exclusive" for Bittwenty has been created, i wish you have a very good plan to execute to be able to compete with the reigning sites.

[mostar]

SmartCoins in the BitShares ecosystem, Bit20 for example,  always have 100% or more of their value backed by the BitShares core currency, BTS, to which they can be converted at any time at an exchange rate set by a trustworthy price feed. In all but the most extreme market conditions, SmartCoins are guaranteed to be worth at least their face value (and perhaps more, in some circumstances). Like any other cryptocurrency, SmartCoins are fungible, divisible, and free from any restrictions.

You'll find the whole explanation in this page of the website BitShares.org that explain how the BitUSD and other smartcoin collateral works. In the case of BitUSD the value is pegged to the dollar, in the case of Bit20 the value is directly created by the witnesses. The collateral system that guarantees your asset is exactly the same.

Have a look, you 'll find it completely reassuring: https://bitshares.org/technology/price-stable-cryptocurrencies/

As far as I read and understand.  There are SmartCoin and UIA on bitshares. Bit20 is not SmartCoin, it UIA.
SmartCoin have this guaranteed mechanism and not UIA !??

Thanks

[saidhr20]

already closed?

[jooj]

if you want post about annoucment thread your coin
you can post in annocument altcoin section https://bitcointalk.org/index.php?board=159.0
in marketplaced altcoin i think only selling, bouny twitter campaign,facebook campaign , signature campaign, pay use altcoin

 Agree with your thought,better to move this topic in annocument altcoin section

Seems your thread is interesting, browsing many of new coin price future. thanks OP

[EstefanTT]

while there are some huge exchanges around, another exchanges alike but i can say "exclusive" for Bittwenty has been created, i wish you have a very good plan to execute to be able to compete with the reigning sites.

I'm not sure to fully understand your question. The only place where Bit20 is beeing traded at the moment is on the BitShares Decentralised Exchange and other exchanges using the underlying platform such as Open Ledger or Freedom Ledger.

Bit20 is unique and I don't need to compete with anyone at the moment.

Could you tell me which are these "exchanges alike but i can say "exclusive" for Bittwenty has been created" ?

[EstefanTT]

SmartCoins in the BitShares ecosystem, Bit20 for example,  always have 100% or more of their value backed by the BitShares core currency, BTS, to which they can be converted at any time at an exchange rate set by a trustworthy price feed. In all but the most extreme market conditions, SmartCoins are guaranteed to be worth at least their face value (and perhaps more, in some circumstances). Like any other cryptocurrency, SmartCoins are fungible, divisible, and free from any restrictions.

You'll find the whole explanation in this page of the website BitShares.org that explain how the BitUSD and other smartcoin collateral works. In the case of BitUSD the value is pegged to the dollar, in the case of Bit20 the value is directly created by the witnesses. The collateral system that guarantees your asset is exactly the same.

Have a look, you 'll find it completely reassuring: https://bitshares.org/technology/price-stable-cryptocurrencies/

As far as I read and understand.  There are SmartCoin and UIA on bitshares. Bit20 is not SmartCoin, it UIA.
SmartCoin have this guaranteed mechanism and not UIA !??

Thanks

Indeed there is Smartcoins and UIAs (user issued asset) on the BitShares platform. Bit20 (symbol BTWTY) is a smartcoin and not an UIA.

Please, have a look on this independent BitShares blockchain explorer and you'll see the % locked in collateral, the actual markets available, the orders book, parameter of the smartcoin, ...

http://cryptofresh.com/a/BTWTY

[EstefanTT]

if you want post about annoucment thread your coin
you can post in annocument altcoin section https://bitcointalk.org/index.php?board=159.0
in marketplaced altcoin i think only selling, bouny twitter campaign,facebook campaign , signature campaign, pay use altcoin

 Agree with your thought,better to move this topic in annocument altcoin section

Seems your thread is interesting, browsing many of new coin price future. thanks OP

I have initially opened this thread in the announcement altcoin but it seems that a moderator moved my thread. I'll contact him and ask him to move me back.

[EstefanTT]

if you want post about annoucment thread your coin
you can post in annocument altcoin section https://bitcointalk.org/index.php?board=159.0
in marketplaced altcoin i think only selling, bouny twitter campaign,facebook campaign , signature campaign, pay use altcoin

I've contacted a moderator to move this thread back in "Altcoin announcement" where I originally created it at the first place.

Thanks for your observation, I didn't realise this thread had been moved.

[DeadlyEskimo]

I would invite you to list Bit20 on iconomifunds.com!

I understand the name is Iconomi Funds but here we are on bitcointalk talking about other coins Anyway I really look forward to helping fund managers like you get your name out, I believe these types of funds are the true on-ramp into crypto for the masses.

Take care!

[EstefanTT]

https://s6.postimg.org/nohmmh7pd/Bit20.png

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

https://s6.postimg.org/o0d1wkibl/bit20a_22_01_17.png

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

https://s6.postimg.org/qt69glio1/bit20_22_01_17.png

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 !!!

www.bittwenty.com

BitShares Decentralised Exchange pair (BTWTY : BTS)

Web site FAQ
Bitcoin.talk forum official thread
BitShares.talk forum official thread
Steemit official thread

[EstefanTT]

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!

[EstefanTT]

Bit20 - The cryptocurrency index fund [2017/02/21 - revision]

https://s6.postimg.org/nohmmh7pd/Bit20.png

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

https://s6.postimg.org/lehw2phvl/rev02_1.png

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

https://s6.postimg.org/jnyv180ch/rev02_2.png

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 !!!

www.bittwenty.com

BitShares Decentralised Exchange pair (BTWTY : BTS)

Web site FAQ
Bitcoin.talk forum official thread
BitShares.talk forum official thread
Steemit official thread

[EstefanTT]

Bit20 - The cryptocurrency index fund [2017/03/21 - revision]

https://s6.postimg.org/nohmmh7pd/Bit20.png

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

https://s6.postimg.org/5xskeuitd/bit20_03_2017_1.png

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

https://s6.postimg.org/sb0b1njr5/bit20_03_2017_2.png

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 !!!

www.bittwenty.com

BitShares Decentralised Exchange pair (BTWTY : BTS)

Web site FAQ
Bitcoin.talk forum official thread
BitShares.talk forum official thread
Steemit official thread

[hanna654]

okay i'll not hesitate anymore and will start trading on the Bit20 market

[bcpokey]

very interesting project, good luck

[Algojar]

Hi,

I've came across this indexed asset and it really interested me. It gives strong weight to the altcoins and i believe that with time, the altcoins becoming more relevant, the Index could be a good measure of the crytomarket in general. But for me the problem is that as I write this message, the real value of the index is around 1100000BTS but the lowest price to buy is around 1500000BTS.
I don't understand why you allow such discrepancy between the real value of your product and the market value. I understand you idea of premium and how in the long run it may be worth it. I believe you shouln't allow so much premium, since it is only speculative. It runs in the belief that the coins will become more valuable.

Finally, it is really strange that you want people to pay more than the intrinsic value, 1.4 times more. I seems that this practice only benefit the current holders of the asset while penalising the buyers. Another evidence is that the forced settlement would not allow the same phenomena to occur the oder way around, the holders having to sell it at a loss.

Therefore, I don't believe bit20 is worth buying it is criminaly overvalued, but I will try to replicate your idea of the Index. If you have a reason for this premium and how it helps your product, I would like to hear.

Thanks for your contribution