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RE: Bitshares and the Bittrex delist - why everyone needs to chill out!
Hi John, appreciate your posts and yours are the reasons I initially got into Bitshares. You're preaching to the converted. However all those great points don't explain why we've had a 90% drop in price over the last 3 months. Nor does it explain where we might be in the next 3 months.
In the chats we're repeatedly told stuff is in the pipeline, the Billion Hero Campaign kicked off 4th July. Does anyone outside of Bitshares even know about it?
Hmmm... well if you look at the past three years Bitshares is up several thousand percent and is following a pattern very similar to Bitcoin, Ether etc. The June pump to $0.40 was random profiteering by centralized exchanges based on zero news, so I wouldn't necessarily connect the price 'drop' from the pump with a lack of performance from Bitshares - quite the opposite, as development has actually accelerated massively in the past six months.
The Billion Hero Campaign has been pretty disappointing to the community and it seems like they got ahead of themselves in hyping way, way before they were anywhere close to producing results that would impact token price in a meaningful way. There is a ton of stuff happening with the BHC but I personally don't see the BHC impacting price until the end of the year.
But the BHC is really not the reason to invest. Bill Butler's UI worker, Bitspark, TXSRB, STOKENS, STEALTH and $100M reserve fund are my fundamental reasons to continue buying/holding. BHC is a moon shot that may or may not get BTS to $330/BTS but I see BTS as a $10-20 coin in the Top 5 on CMC based on adoption, utility, development, scalability and performance track record.
The problem with BTS token price is literally the blacklisting by centralized exchanges. Money can't get into BTS. There is so much shady shit going on with ICOs and pumping shitcoins right now it is sickening. Someone is literally creating money from thin air (ie USDT), listing shitcoins on the exchanges and pumping/dumping them. It is one of the biggest financial frauds in history and you better believe people are going to jail.
When the war drums start beating there will be a stampede to Bitshares - it is already starting. Bitshares is right now working with SEC and other regulators to develop a compliant, regulated exchange for everyone to use safely and legally.
BTS price /= BTS tech. Bitshares is a huge threat to centralized, crooked crony exchanges and they are literally doing everything they can to suppress the price in hopes that Bitshares will just kind of wither away. But the opposite is happening and between the new flood of development/adoption and SEC/regulators filing charges... well, it's a war.
Appreciate your reply. You threw a couple of things in there that I hadn't really given much thought to. The pumping and dumping of vaporware on the centralised exchanges and the banning of decent tokens. I continue to hold and will buy more in due course when I can.
I think this latest blow is compounded more by the fact that it has happened on the back of a 90% slump. Just when you think it can't get any worse. I wonder what the next kick will be.
This latest blow was, more than likely, carefully timed. Makes me wonder about the slump too.