Bitshares (BTS) Gets Delisted from Bittrex, Buy, Sell, or Hold?
The crypto world was thrown a curve ball yesterday when Bittrex announced the removal of BTS from its exchange, along with four other trading pairs.
BTS dropped 20% on the news alone.
Bittrex gave no official reason for delisting BTS, as is their normal policy. You can see their market removal policy here.
It certainly wasn’t due to low volume, which is the case with most coins.
Some speculate BTS was removed because it’s a competitor to Bittrex. Others speculate that BTS was banned because it’s popular in China. And yet others speculate the problem is technical and BTS will be back in the future.
Whatever the case, the question is, what do you do with BTS now.
As you can see from the chart below BTS is roughly 90% off its all-time high. At that time it had a valuation of $1 billion. Now it’s around $140 million.
For me personally I’m not selling my BTS. I may even buy more.
One positive for Bitshares is the integration of Bitspark.
Bitspark is a Hong Kong based remittances company. Right now it’s operating in the Phillippines, Indonesa, and Vietnam but has plans to expand worldwide.
In August Bitspark announced it was switching from the bitcoin blockchain to the Bitshares blockchain. Bitspark favors Bitshares as you can create pegged cryptocurrencies, it’s cheaper and faster, it’s more liquid, and it’s a decentralized exchange with zero counterparty risk.
To learn more you can check out an interview with Bitspark’s CEO Maxine Ryan here.
The other positive for Bitshares is the TXSRB and Stokens. @stan has been writing about it here.
I wrote about the TXSRB, or Tokens & Exchange Self-Regulating Body in September. Its goal is to bring fair and transparent regulation to tokens and ICOs.
Then there is Stokens, which is a platform for security tokens on the Bitshares blockchain.
In my opinion, this is huge because just about every financial asset can be tokenized. The TXSRB and Stokens will go a long way to making it a reality.
In conclusion, I’m holding onto to my BTS.
For more on cryptos follow me @g-dubs and on SteemFollower
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This is not financial advice. Do your own due diligence.
There are a lots of reason why bts is a good invest.
I see there a lot of potential.
Btc can send 7 transaction per block.
The bts 100.000 and they can increase to 1 Million per block.
They are faster and have a higher security, because of the decentralization.
For what can we use decentralized coins, if we must trade them and send them to centralised exchanges?
I am pretty sure that they will go to the moon.
Now i see only a good chance to buy it very cheap.
Excellent points, I agree.
Thank you
@shqipe I agree with you this is a great chance to buy. Because a centralized exchange says no, does not mean they will fill it with another alternative soon. Is this the time for decentralized exchanges to rise? Just upvoted. @gold84
Ive done very well buying coins with real value on sale. Now is obviously the best time to buy bitshares ever.
Agreed. When you plot tx volume against BTS price it just doesn't make sense.
I am holding it to it as well. I have made an tutorial for people who wants to support BTS by holding it securely in Bitshares wallet. You may checkout this one
Thanks. I was trying to create a new account today but keep getting an error message.
You are welcome, @g-dubs.
Its pretty much done a downward doge...Like you said, BTS is roughly 90% off its all-time high, that is not something that has been under performing for a while, and its stale.
90% drop seems extreme to me. the platform continues to grow.
What if the explanation is simpler. What if it has to do with Bitshares as a name and what they are about. bit-SHARES implies a security, which will be hammered by regulation. This is not my theory though,w check out this:
I'll check out... could definitely be a regulator preemptive move
This seems to be the reason I am finding as of now:
I saw that one. Also heard b/c BTS is a competitor. Also heard maybe because the Chinese like BTS. Not sure at this point...
Rightttt it is difficult to sift through all the information to say the least.
Thanks for posting about this
good info. Thanks for posting
Thanks!
Count me in!
dirty bittrex
lol
sneaky move from bittrex
yes. doesn't make sense. why give up the volume?