BitsharesX will go UP or DOWN?

[TinEye]

BitShares X started at 30 million when it went liquid. Naturally investors who had waited too long dumped, and price went down to 15 million. After a while it became clear that bitUSD was going live, along with other good news. The price skyrocketed up to 110 million. Then came the inevitable crash, and it went down to 45 million before bouncing back up to 60. In sum, an almost 10x increase from the lowest point, crash and then bounce to approximately half of the peak.

Where have we seen this before? Oh right, during every bubble.

It is impossible to tell from this action alone what sort of long term price we will see. People who believe in the system think this was no accident, and that it will flat-line here until the next bubble. People who don't believe in the system generally have no idea what it is about. bitBTC and bitCNY is going live any second now, and the marketing push has not even begun yet - coupled with the fact that there are several new BitShares products on the horizon that will help grow the ecosystem.

BitBTC and BitCNY is going to help, when even BitUSD is struggling to maintain its peg even with you guys using your massive funds to hold it. Markets are being paused whenever you want, or you think your profit option is not there. The developer himself admits he made a million and then paused the market.

Its early days but the price is way over inflated, its going to come down naturally.

[CLains]

Markets are being paused whenever you want

There is a required market depth built into the system, and when everyone in the BitShares team pull their funds the market pauses because there is too little market depth. Any collection of people or even a BitShares whale could unpause the market at any time and defy the wishes of the dev. team but they don't as it would destroy their value.

The bitBTC and bitCNY markets will start as soon as the delegates publish their price feeds. The core devs have no direct control over what the delegates do, delegates are independent and voted into their positions by shareholders, the core devs only appeal to what they think is the best thing to do.

I think what we are seeing is that the various incentives here (for core devs, for investors, for traders and for delegates) are correctly aligned with the best interests of the BitShares system. The basic mechanic of the peg has been working contrary to 16 months of FUD directed at Daniel Larimer, and with the DPOS system they now have a million tools at their disposal to tweak the market mechanic to work just right.

The reason that the only cap in the top five on coinmarketcap.com not falling atm is BitShares is that people have confidence that the small bugs that do exist will be figured out. Smart money knows what's up, and I believe the next 6 months is going to be huge for BitShares. But let us see

[MyPotPlantDied]

I bought some a couple of days ago so with my luck down short term. If I panic sell, then it will surely go up 

[TinEye]

There is a required market depth built into the system, and when everyone in the BitShares team pull their funds the market pauses because there is too little market depth. Any collection of people or even a BitShares whale could unpause the market at any time and defy the wishes of the dev. team but they don't as it would destroy their value.

The market now operates at the whims  of the developer who himself has admitted he has made a million off the other users. The one with the ability to pause the market at any time is also the one participating in the same market and making millions

[CLains]

I bought some a couple of days ago so with my luck down short term. If I panic sell, then it will surely go up 

In this ugly bear market I am happy so long as my funds are not losing value ..  

[brekyrself]

There is a required market depth built into the system, and when everyone in the BitShares team pull their funds the market pauses because there is too little market depth. Any collection of people or even a BitShares whale could unpause the market at any time and defy the wishes of the dev. team but they don't as it would destroy their value.

The market now operates at the whims  of the developer who himself has admitted he has made a million off the other users. The one with the ability to pause the market at any time is also the one participating in the same market and making millions

Second time you have said this, please provide a link to where this information is stated.

[TinEye]

There is a required market depth built into the system, and when everyone in the BitShares team pull their funds the market pauses because there is too little market depth. Any collection of people or even a BitShares whale could unpause the market at any time and defy the wishes of the dev. team but they don't as it would destroy their value.

The market now operates at the whims  of the developer who himself has admitted he has made a million off the other users. The one with the ability to pause the market at any time is also the one participating in the same market and making millions

Second time you have said this, please provide a link to where this information is stated.

https://bitsharestalk.org/index.php?topic=7919.msg104955#msg104955

I earned about 1,000,000 BTSX trading the peg.

While everything is buggy and is paused at anytime, the one with all the info and controls is making a killing. Good luck to all those who are participating.

[TinEye]

I bought some a couple of days ago so with my luck down short term. If I panic sell, then it will surely go up  

In this ugly bear market I am happy so long as my funds are not losing value ..  

Regardless of the inherent value, it was overbought, then a sharp crash and again a rebound. 0.00007 should be the point for another price dip, but do not hold me to that.

With such a high volatility if you are just a bit patient you will profit.

[brekyrself]

There is a required market depth built into the system, and when everyone in the BitShares team pull their funds the market pauses because there is too little market depth. Any collection of people or even a BitShares whale could unpause the market at any time and defy the wishes of the dev. team but they don't as it would destroy their value.

The market now operates at the whims  of the developer who himself has admitted he has made a million off the other users. The one with the ability to pause the market at any time is also the one participating in the same market and making millions

Second time you have said this, please provide a link to where this information is stated.

https://bitsharestalk.org/index.php?topic=7919.msg104955#msg104955

I earned about 1,000,000 BTSX trading the peg.

While everything is buggy and is paused at anytime, the one with all the info and controls is making a killing. Good luck to all those who are participating.

TinyEye, 1,000,000 BTSX at the current rate is only 30,000 usd, far from making millions...  Looks like the rest of us need to start playing around with BTSX and BitUSD!

[CLains]

Looks like bitBTC might be live 

[Indemnified]

Since I bought my first bitcoins in early 2011 the price has gone up and then crashed at least 5 times.

Bitshares is a great advancement of the blockchain technology over the bitcoin, or any other altcoin, implementation. But it will surely also be overbought and then crash, and then rise again just as bitcoin has done many times.

I didn't sell the bitcoin I bought at $5 when it reached $30, and I didn't sell them when they dropped down to less than $2. And I will not sell my bitshares until they reach $1, and then only a small portion of them.

[testz]

Since I bought my first bitcoins in early 2011 the price has gone up and then crashed at least 5 times.

Bitshares is a great advancement of the blockchain technology over the bitcoin, or any other altcoin, implementation. But it will surely also be overbought and then crash, and then rise again just as bitcoin has done many times.

I didn't sell the bitcoin I bought at $5 when it reached $30, and I didn't sell them when they dropped down to less than $2. And I will not sell my bitshares until they reach $1, and then only a small portion of them.

Nice long term investment strategy.

[TinEye]

TinyEye, 1,000,000 BTSX at the current rate is only 30,000 usd, far from making millions...  Looks like the rest of us need to start playing around with BTSX and BitUSD!

Wish somebody gave me just 30,000 usd. Heck, even 1000 BTSX would be great. trying to set up orders to make a few here and there.

[OrientA]

It will go down. I do not think it will be tradeable this time next year.

[chryspano]

It will go down. I do not think it will be tradeable this time next year.

Said the 8 post and 2 days old account and then vanished in to the mist!!

[boraf]

What was your vote?
Why do you think so?

No idea.

Really depending on the founders who control the coin. They can also do what ripple did and increase the total supply to increase the market cap to give the illusion of strong support.

[TinEye]

What was your vote?
Why do you think so?

No idea.

Really depending on the founders who control the coin. They can also do what ripple did and increase the total supply to increase the market cap to give the illusion of strong support.

Developers are sound, thats not the issue.

Its more to do with the current price which is just hype. 0.00001 BTC per BTSX would dtill be a high price. Fully expect it to go into five zero territory.

[CoinHoarder]

What was your vote?
Why do you think so?

No idea.

Really depending on the founders who control the coin. They can also do what ripple did and increase the total supply to increase the market cap to give the illusion of strong support.

Developers are sound, thats not the issue.

Its more to do with the current price which is just hype. 0.00001 BTC per BTSX would dtill be a high price. Fully expect it to go into five zero territory.

A decentralized exchange is worth much more than BTSX's current market cap, assuming all of the current issues are resolved.

Also, hype pretty much equals speculation. What cryptocurrency ISN'T supported by speculation?

Just in case you don't get that last statement... it was a rhetorical question because all cryptocurrency's values are upheld by speculation.. even Bitcoin. It is a speculators market as mass adoption has not been achieved by any of them.

I understand you need to up your post count for your signature campaign, but go spread FUD somewhere else.

[ruletheworld]

What was your vote?
Why do you think so?

No idea.

Really depending on the founders who control the coin. They can also do what ripple did and increase the total supply to increase the market cap to give the illusion of strong support.

Developers are sound, thats not the issue.

Its more to do with the current price which is just hype. 0.00001 BTC per BTSX would dtill be a high price. Fully expect it to go into five zero territory.

A decentralized exchange is worth much more than BTSX's current market cap, assuming all of the current issues are resolved.

Also, hype pretty much equals speculation. What cryptocurrency ISN'T supported by speculation?

Just in case you don't get that last statement... it was a rhetorical question because all cryptocurrency's values are upheld by speculation.. even Bitcoin. It is a speculators market as mass adoption has not been achieved by any of them.

I understand you need to up your post count for your signature campaign, but go spread FUD somewhere else.

If you take the definition of ownership of a coin to mean you holding the private keys, then Bitshares is NOT an exchange at all, but just a derivative play on the price of an underlying that you hope will be maintained through thick and thin. You cannot actually trade BTC on the Bitshares network. You can trade BitBTC that you assume will be equivalent to the price of BTC or that you can get exposure to BTC by owning bitBTC but that doesn't mean it is a decentralized exchange for BTC. Not saying this isn't something nice or something that will have a lot of demand, but calling it a decentralized exchange would be wrong.

[affan]

down...., because more crypto coming next