Coins to be Deleted from Bittrex Soon and Their Charts

https://steemit.com/bitshares/@nighthawk888/how-to-move-bitshares-off-of-bittrex

johnsmith (64) · 7 years ago

Bittrex is violating their own policy by delisting BTS. There are no regulatory or technical reasons to delist. Bitshares core devs have contacted Bittrex management directly and have not received any response.

But you know what? Good! Time to get your BTS to the Bitshares DEX where it is safe from idiots like these. No worries about not being able to withdraw, getting 'delisted', being hacked, etc.

Go to https://bitshares.org/ download the wallet and get your BTS out of Bittrex while you still can!

As an added bonus, once you get your BTS into the Bitshares wallet, you can keep trading BTS on the DEX with low fees, no risk and margin.

Here's a handy guide on how to get you BTS off of Bittrex:

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cyberblock (65) · 7 years ago

Not sure why everyone loves bittrex so much? I'm taking a serious look at this being a buying opportunity for bts, the only thing that worries me is what if poloniex is next to delist bts? Bitshares is a decentralized exchange being traded on a centralized exchange like bittrex could be direct competition?

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4 votes

huatzai (28) · 7 years ago

thank you ..

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lighting.nerd (42) · 7 years ago

Thank You!! upvoted!

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ibringawareness (63) · 7 years ago

Thank you!

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reggaemuffin (66) · 7 years ago

I am hoping that this move strengthens Bitshares as a decentralized exchange and have used this opportunity to buy a whole bunch of cheap BTS.

Thank you for encouraging holders to move to the DEX!

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kingscrown (81) · 7 years ago

yeah big discount :)

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chowdog (41) · 7 years ago

If only bitshares was a good decentralised exchange. It's shit and not even usable. It won't be able to compete with the newer 0 fees and instant transactions exchanges anyways

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billbutler (65) · 7 years ago

That's changing. We are making steady improvements to the UI and are squashing bugs daily. Latest Release Notes

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desmondk (29) · 7 years ago

Thanks for the heads up!

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bitcoinnational (55) · 7 years ago

Because ICO rules, BTS likely has a SEC file since 2015ish.
Lawyers advised this move.

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coinlend (55) · 7 years ago (edited)

Yo ,
Very interesting read, Thanks you for sharing it!

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4 votes

kevteh (46) · 7 years ago

Will get wallet now

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anforo (56) · 7 years ago

Why BTS? It's so unexpectable

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jac4b (46) · 7 years ago

Sounds like competition to me. BTS is a decentralized exchange, Bittrex is a centralized exchange that makes money on fees. Kinda like Apple delisting or controlling competitors’ apps in the App Store.

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cyberblock (65) · 7 years ago (edited)

bittrex is good for longer term traders but for arbitrage and day trading poloniex has cheaper taker fees. poloniex is .15% and bittrex is .25%. Its actually a big difference if you trade a lot of volume. The taker fee also goes down in increments starting at a monthly average of 600 btc trading volume.

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6 votes

heartwood (25) · 7 years ago

Gret to know , thanks for this info!

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markjackson1989 (53) · 7 years ago

need to remove more coins. 99 percent are trash

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realestatecoach (54) · 7 years ago

I hear a lot of negativity towards Poloniex but have had 100% positive experience. I love their lending network and the ability to margin trade if desired.

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bluephoenix (46) · 7 years ago

I believe they are doing this in order to avoid any investigation from the SEC... if other exchanges are following this, it will be a "purge" and we might experience a crash soon

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3 votes

rt395 (65) · 7 years ago (edited)

On edit: A couple of people commented below that these rumors are BS. They are probably right and so I have deleted this message. Still, why is it being delisted?

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johnsmith (64) · 7 years ago

Neither rumor is true, and both are far from the truth.

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3 votes

sadekj (58) · 7 years ago

both possibilities are frightening.

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cmaccu (33) · 7 years ago

I literally just read this saying it's the SEC, but haven't had a chance to look into whether the site it's on is legit https://cryptoanteg.com/blogs/news/american-sec-begins-purge-of-cryptocurrencies-by-targeting-bittrex-1

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pawnuts (52) · 7 years ago

those rumors are fucking ridiculous

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kingmotan (51) · 7 years ago

Oooops I only have a few bts on bittrex, might as well sell them and get some Verge :)

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denmarkguy (76) · 7 years ago

Kinda surprised to see them delist Bitshares... that's consistently one of the high volume assets; have to think there are other issues there.

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sadekj (58) · 7 years ago

Exactly my thoughts.
It would be great if a Bitshares insider like @stan can clarify this. Anyways, It is very bad for Bitshares.

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stan (71) · 7 years ago

There is no good reason. Therefore, one should sniff the air for bad reasons.

We have confirmed that there are no such SEC actions and BitShares has been running on the Bittrex exchange as the 10th most active asset for years.

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deepbrain (37) · 7 years ago

Some additional thoughts: if you look at the BTS/BTC chart on bittrex, you could see that the previous down trend was from 1300 to 280 in the course of Sept 16 till March 17 - 7 months. So, it had lost about 4.6x of its value in 7 month. Right now the trend is from 16,000 to about 1300 or about 12x loss in value from June till October or 5 months. So, this downtrend is much more severe. Plus the relative marketcap of BTS and its holdings at bittrex are at least 10x higher now than before compared to the bitcoin, so the exposure to BTS at bittrex grew a lot relative to the bitcoin. Also, there were almost $7Million BitUSD in June 2017, right now it is down to $3 million with the Bitshares DEX exchange trying to cover the $2 million of BitUSD loans automatically by selling the BTS. In the previous bear run, there were just $100,000 of BitUSD in circulation or 30x smaller than the current position. On top of this the leverage required to hold the BitUSD is 1.75, this translates into the selling pressure 1.75 times higher than the BitUSD level in a downtrend.

Lets consider an extreme scenario, where somebody, say a pro trader X holds those $3 million BitUSD and is not going to sell them until the bear trend clearly reverses. The accounts that sold those BitUSD to trader X are going to be liquidated against the collateral BTS they hold until those accounts buy back the BitUSD by selling BTS or get automatically liquidated to zero BTS. So, the downtrend is more likely to continue until the big trader X considers the bear trend to be over at which point those BitUSD will be converted to back to BTS. I am not saying that it will happen, but if the bear trend in alt coins continue for a few more months, a lot of BitUSD will continue to put additional pressure against the BTS with too little liquidity on the market and the price can continue its collapse. It would be good if the big trader X was the blockchain itself as I proposed, so it could intelligently support the BTS at key points and punish the speculators.

Bitcoin is loved as a holding not because of its slow transaction times, but because of its relatively low volatility. In contrast, the BTS essentially absorbs all of the volatility from BitUSD which has zero volatility. If we wanted to make BTS a lower volatility asset, we need to give it a big liquidity pool against the USD, like the central banks do in smaller countries around the world. Those banks buy their own currency by selling the USD from the pool when the national currency falls unreasonably and buy the USD when the national currency rises too fast. This is what the BTS blockhain could have done in April/May/June. The same goal could be partially achieved by advertising the benefits of BTS more during the downfalls on Youtube, Google and Facebook with the targeted ads and advertising it less when the price rises too fast - the blockchain should sell the BTS and put it into BitUSD liquidity pool used for advertisement and liquidity support during the bear downfalls.

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3 votes

deepbrain (37) · 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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6 votes

billbutler (65) · 7 years ago

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.

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bankholiday (36) · 7 years ago

Thanks for the heads up, I never messed with those coins but still good to know.

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eduter (56) · 7 years ago

but why they plan to delist bitshare (BTS)?

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lykkejay (57) · 7 years ago (edited)

Hello Everyone, I have written an article regarding how you can safely move your Bitshares from Bittrex to Bitshares wallet today CLICK HERE

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doitvoluntarily (77) · 7 years ago

thanks for this update

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losose (27) · 7 years ago (edited)

There are a lot of coins in bittrex and I only knew BTS so...
Really interesting post

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thevillan (68) · 7 years ago

I have to agree, bittrex is good exchange. Thanks for the tip champ :)

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ata27 (55) · 7 years ago

why do not i post anything upvote ...
please help my post ...

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pemulungcrypto (34) · 7 years ago

I do not have any bts balance at bittrex.. good information.

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steemdiffuser (39) · 7 years ago

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ahlawat (76) · 7 years ago

Right information! kingcrown

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rumpa (38) · 7 years ago

very good currency updates...

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ruah (67) · 7 years ago

a very helpful information. thanks for this post.. i really love your posts

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silur (8) · 7 years ago

This post is so amazing, I'm so inspired to keep working hard on Bittrex .

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chickensalad (40) · 7 years ago

Thanks for the heads up!

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wakeupworldnews (58) · 7 years ago

So should we sell or transfer out the BTS we hold on bittrex?

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lemonjack (27) · 7 years ago

thanks for the update

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cryptick (56) · 7 years ago

Bittrex may be trying to get rid of the competition by delisting BitShares. If Bitshares were to go viral it could really take a bite of the other exchanges volume. That said, bitshares is in good shape and it would be easier for regulators to shut down the centralized exchanges if the SEC want to be anti-crypto.

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marketanalysis (44) · 7 years ago

Thank you for the update..luckily I am not holding any of these. Does anyone know why they are being removed? BTS does not make any sense.

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rsrb (7) · 7 years ago

I love bts as dex and its coin.

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tundra (29) · 7 years ago

I wonder if this has to do with trade volume or something else like regulatory concern. Weren't a lot of asset tokens issued on bitshares in the past? sorry if i have bitshares confused with another platform

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lighting.nerd (42) · 7 years ago

Thanks for the heads up!

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ashik17 (38) · 7 years ago

thank for your great information and post. This may be helpful as well.

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nickporter (39) · 7 years ago

Thanks for the update and tips

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mprgrmmr (52) · 7 years ago

Ouch, clear example of what can happen. I'd be hard pressed not to dump as soon as I heard news like that.

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braxton101 (58) · 7 years ago

I have been using the binance exchange lately. It is also a coin and exchange in combination!

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sabbir24 (49) · 7 years ago

very good currency updates...

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ibringawareness (63) · 7 years ago

Soooo.... Oct 10-12 a good time to buy the dip and long term hodl?

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dibyendu12155 (25) · 7 years ago

really ?? Then ok.

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ibringawareness (63) · 7 years ago

This was a question, not neccesarily advice!

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praveenchahar (39) · 7 years ago

Right information

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azza1070 (23) · 7 years ago

Bittrex has always been the best exchange. Poloniex makes me cringe.

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bitgeek (62) · 7 years ago

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schwmm (36) · 7 years ago

Bittrex is dead with thethe SEC breathing down their necks.
Check the “Pro“ tab on Binance, I absolutely love that exchange

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orangewhynot (31) · 7 years ago

The reason why they delist those coin is because they are unfortunately worthless, shitcoin and hopefully, all the other shit coin on the platform will end up being delisted very soon, so the real technology and people working hard have for visibility and more people to jump on their ride!

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keepcalmandhodl (29) · 7 years ago

BTS was #10 on bittrex for volume. Do you have anything to back up your shitcoin claim?

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spiftheninja (54) · 7 years ago

They are trying to prevent BitShares from becoming huge. That seems obvious.

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quattrophoto (49) · 7 years ago

My thoughts exactly

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pemulungcrypto (34) · 7 years ago

Yeah

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pitwi (29) · 7 years ago

Thanks for the info!

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leomichael (68) · 7 years ago

Good post

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alex-yves (32) · 7 years ago

Hi. What are some alternatives ?

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pascalwitzig (39) · 7 years ago

Hey there! Interested read, thanks for sharing! Just one question: you write

"Always watch what exchanges will add (pump) and what will drop (dump). Best trading indicator."

What exactly do you mean by this? You mean which coins/tokens are added/dropped to exchanges?

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jschindler (52) · 7 years ago

That seems really strange they would remove BTS-BTC. Usually it's due to low volume when they remove a market/coin. $7.8M is pretty damn good though, guess we'll see what happens. Thanks for the update!

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trizle (52) · 7 years ago

To transfer your Bitshares(BTS) from centralized exchange like bittrex to Bitshare/Openledger Decentralized exchange
follow the simple process:

Create a Bitshare account on https://bitshares.openledger.info/?r=trizle1
goto your bittrex account
Click "Wallet"
Search for "BTS"
Click the - Minus sign
Input your account name created on step 1
add a memo
Send
check your bts balance on openledger after some minutes

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hknazmul (33) · 7 years ago

Thanks Brother.
i love you

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jbbasics (49) · 7 years ago

This is odd. I plan on picking some bitshares up at this price and catching more on the dump. Decentralized exchanges will start catching more attention soon. Thanks for sharing!

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minnowsupport (70) · 7 years ago

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superstar2018 (57) · 7 years ago

Why do they remove the coins? Are they scams?

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haejin (87) · 7 years ago

The government hate decentralized exchanges as it's a tougher target to take down than the centralized exchanges. These governments are probably actively pressuring Bittrex and other exchanges to remove BTS.

So, download the exchange app onto your computer m. Setup a VPN connection for additional anonymity. And trade in BTS!

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artonsteem (49) · 7 years ago (edited)

This is interesting. Now it will matter most, whether Bitshares can move forward with its plans to become truly decentralised but regulated by the people exchange.

I was happy to hear news of the United Nations projects and hope that all current fiat currencies can soon be mapped to Bitshares. Something like a kick starter for other United Nations or NGO office that would like to use that currency function...

...heads down, tough winds ahead...

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carloserp-2000 (68) · 7 years ago

excellent information about the crypto, it is important to always be up to date with all these news, on any exchange page and more if it is bitrexx that is certainly the best, garcias for sharing such important information with the community

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deepbrain (37) · 7 years ago

Professional traders would love to use the Bitshares DEX, however it is not supported by the very popular trading tools such as the Coinigy and TradingView. The DEX wallet interface is not sufficient for the professional trading, so the high volume traders must still resort to using the Bittrex and Poloniex. I think that the Bitshares team must focus on collaborating with the trading tools providers and promoting the exchange platform with the targeted Google and Facebook ads. The Bitshares platform would be so much more popular and enjoy much higher liquidity much sooner if some money were invested into these relatively simple efforts.

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planosdeunacasa (62) · 7 years ago

Hi! @kingscrown Good post, thank you for the information!

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dylanjacobson (54) · 7 years ago

What coins do you think are the most promising right now? I am always looking to buy the dips. I just made a post regarding this if you want to check it out.

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marketanalysis (44) · 7 years ago

waves, qtum, steem!

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idealist (56) · 7 years ago (edited)

BTS is probably the hardest dipped coin while paradoxically having the strongest fundamentals. It seems there are lots of ignorant holders who have dumped. That could mean a good time to buy.

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mikeg85 (35) · 7 years ago

I love Bittrex,A friend told me about it last month and so far I'm hooked. There's one coin i really like is Ripple (XRP) I think it's got a future

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andrisyahreza (15) · 7 years ago

very nice post. follow me :)

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arzt (26) · 7 years ago

Thanks for this info!

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arcange (73) · 7 years ago

Congratulations @kingscrown!
Your post was mentioned in the hit parade in the following category:

Comments - Ranked 8 with 90 comments

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nabes (51) · 7 years ago

I like Bittrex, its easy to use, and there is all those studies you can use to help out. Poloniex didnt have that, and I dont know other esxchanges

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pemulungcrypto (34) · 7 years ago

I use ztrade app on my android

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syzmic (51) · 7 years ago

I also prefer Bittrex than Poloniex :-)

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pawnuts (52) · 7 years ago

what other types of shit-sandwich do you enjoy?

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cryptowhalecall (25) · 7 years ago

They all dropped a lot, except BTS. Heard rumours of BTS getting added to other exchanges!

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zxlin (25) · 7 years ago

I'm holding some darcrus coins. I definitely don't want to sell them at the price this low. What can I do to prevent massive loss? Any advice?

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eternalsunshine (51) · 7 years ago

What about trade volume, was it as good as that ?
Anyway, all big exchanges will begin to see BTS as a threat now. It is the good opportunity to switch to DEX.

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andrewwu (38) · 7 years ago

oh, dear... I had a plan to buy some BTS. Cancel that plan now :)

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lovejoy (67) · 7 years ago (edited)

What do you mean...? following the old quote, this is a great time to buy.

"The time to buy is when there's blood in the streets."

_{**Not investment advice :P}

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raihanrahman (49) · 7 years ago

Very informative post. Thank you for sharing your knowledge.

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aqbayli (45) · 7 years ago

bittrex is no longer the best exchange service we have to move our trading operations to others exchange like karaken and bitfinex

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cloudspyder (59) · 7 years ago

I love bts as dex and its coin.

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temmy8284 (56) · 7 years ago

Nice post

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temmy8284 (56) · 7 years ago

Temmy8284

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gazur (54) · 7 years ago (edited)

I dont think it will affect the price enought to care. I did some Technical analysis on omg for the short run check it out
https://steemit.com/bitshares/@gazur/what-s-up-with-bitshares-repost

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