Thanks Bittrex.
Thinking long and hard about rebalancing into more BTS out of either LTC or a BTC hedge. LTC is slowly creeping up as a % of my portfolio somehow (down less than BTS, I guess). We all don't invest more than we can afford to lose, right? Really tempted to call this FUD and double-down on the 20% dip (be greedy when others are fearful, etc., etc.). At least catch a rebound pump at some point
Alternatively, this shows how fickle everyone is and how quickly an asset can just tank.
Speculation I'm seeing so far (none of which has been verified or corroborated, in order of how often I'm seeing them):
- Technical issues on Bittrex side (node RAM requirements)
- SEC regulations regarding securities
- Foul-play coinciding w/ ADA launch (former BTS dev(s) on ADA team)
- Consistent decline in value
- Protocol weakness (51% attack risk somehow, possibly because of low price)?
First two seem to be the most reasonable so far. Both of those seem to be the kind of thing you publicly explain, though I get not having a policy of explaining every action (since Twitter will always freak out, valid explanation or not).
How long until the new BTS web exchange, etc. is online?
The RAM issue was out early and originally looked like it was from Bittrex and like it was legit. They just needed to change their configuration. Now we have nothing else out of them, and, well, silence in this kind of situation isn't positive. SEC regulation issues are clearly FUD - BTS is one of the very few who are able to go completely compliant on a minute's notice. The foul-play issue is something I don't rule out categorically, but I very much doubt it. Consistent decline in value? If that were the case, 90% of their coins would be delisted. Protocol weakness? Then why not STEEM too? Or ARK? Obvious FUD hack job.
A few people have asked me what I plan to do.
I've said many times in this thread that my number one criteria for anything I'm involved in long term is the question as to whether I'd lose sleep being a long term bagholder. If I answer that question with a "yes", I don't get involved. Likewise, if I get involved on those terms, I obviously don't sell when the price is dropping. If anything, I do the opposite. Hell has to freeze over before I sell BTS.
And for those of you buying, I can only say, GOOD GOING!
Oh, and here's a cross post from the BitShares thread with my take on the
real reason. (I recommend following that thread closely, and reading up on what you might have missed. scaryvirus is an excellent "host".
)
tell me please, so what's the reason that they are being deleted from Bitrex or where you can read about it?
Mum's the word from Bittrex.
With the amount of money they make every day on BTS trading, we can clearly and unreservedly rule out good business sense as a reason.
That leave's us with just two primary possibilities: 1) they've lost their minds, or 2) they are extremely threatened and have decided to strike early while they think they still have a chance.
BitShares is their primary long term competition. There's no doubt in my mind about that, and I think they have concluded that their long term livelihood is threatened seriously enough by BTS to warrant a strategy that limits as much as possible any type of support direct or indirect of BitShares, and if possible, especially if it's an indirect "side affect", that even damages its competitor's good name.
