RE: Coins to be Deleted from Bittrex Soon and Their Charts

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Coins to be Deleted from Bittrex Soon and Their Charts

in bitcoin •  7 years ago  (edited)

I think one reason could be that the bittrex-deposit account had 303,013,767 BTS as of Oct 3 according to the Bitshares report. This was a considerable holding of more than $60 million USD just a few days ago. Now compare this with the bitcoin holdings at bittrex: $69 milion. As the BTS account shrinks very rapidly due to the BTS price fall, it can present dangers for the exchange. The BTS price fall is accelerated due to the blockchain's automatic selling of BTS to cover the bad BitUSD loans. I just saw $2 million order on the bitshares order book for BitUSD against Bitshares, it was 1000x larger compared to everything else in the books. A huge "seller" like this is the blockchain bot that makes sure that BitUSD loans have sufficient collaterals. This bot is putting a lot of downward pressure on the BTS. BItshares is conceptually the best coin on the market - better than bitcoin and ethereum. But there seem to be too few liquidity pools for BitUSD and this likely exacerbates the volatility of the BTS. I think the Bitshares definitely needs to have a big liquidity pool trading account with a smarter AI algorithm trading it to support the BTS price - buying BTS when the price us low and selling some for BitUSD when BTS is high, it could require some initial emission of BTS to support it, but would be very good for the system in the long run. What do you think?

On top of this I would definitely recommend integrating the Bitshares dex with the professional trading tools such as Coinigy and TradingView, otherwise the high volume professional traders will still have to stick with the Bittrex and Poloniex. Promoting the exchange with the targeted ads on Google, Facebook and the Youtube would also help a lot in marketing to bring more traders to the Bitshares exchange.

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You have some pretty good insights. Thanks. I'm heading up the UI rewrite team here. We definitely need better bots for creating liquidity. We have some who are talented enough to execute but voting on how to manage the funds used for liquidty is not a simple problem to solve.