CRIPTO BRAKING NEWS #1 Bitshares out of Bittrex

in #bitshares4 years ago (edited)


Today I wake up and while I was doing my matinal checking on ADSactly discord server when I found a post broadcasting this news on steemit. So I decided to check it out by my self.

And indeed this is what you get when you get to the BitShares charts on Bittrex

@tech-trends speculate in his post about the reasons why this could be happening, It looks like he's guessing that this might have something to do with with the Bittrex Market Removal Policy

We look for coins that have high community demand, innovations to crypto-currency technology, or a contribution to science and humanity. We believe in aggressively taking chances on coins and letting the free market sort out which coins should thrive.

Bittrex reserves the right to keep or remove any market from its exchange.

Markets which are more eligible for removal include but are not limited to:

  • Markets with less than 0.5 BTC (or equivalent) of average daily volume over a 7 day period and have been on Bittrex for * 4 weeks or more.
  • Markets that consistency dip below the minimum volume requirement.
  • Markets with 0 daily volume.
  • Markets with low liquidity. Less that 15 BTC on the Buy side of the order book for Bitcoin markets.
  • Coins with no developer support or public developments.
  • Coins without working blockchains.
  • Coins which do not adhere to their target block times.
  • Coins with weak blockchain security. e.g. Low hash rates which can be exploited.
  • Coins which violate our policies.
  • Coins which have compliance issues.

If a market is removed, you will have 14 days to remove your coins from our wallets.

@tech-trends also mention a part of the Bittrex FAQ

Q] Bittrex, why do you hate my coin?

A] We don't. We added your coin because we thought it met one of our criteria. It is very likely that your coin has been pulling low volume for awhile and we kept it on the market (some coins for 6 months or more) at a loss to ourselves because we wanted to see it grow. Give us a reason to keep the coin and we will very likely keep it.

Q] How do I prevent my coin from being delisted or getting the warning?

A] This is easy.

a) Never drop below the minimum volume threshold (see more about that in the answers below)

b1) If you are on the development team or foundation of a blockchain, tell us about what is happening with it. Be proactive. We love to know that the risks we took in adding you to the exchange were worth it.

b2) If you are a token holder or generally are a fan of a specific token, let us know. But don't spam.

c) Never let us get surprised by a fork or any other disruption of your blockchain and please be responsive to our requests for support. In general, support tickets from our users is the primary expense for any given blockchain.

We realize that the potential delisting of a coin elicits an emotional reaction. And it's unfortunate that with most coin developers, we only hear from you when the delisting notice comes up. Please don't make that the case.

Q] Why are some coins up for delisting but others aren't?

A] We provide exceptions for new coins just launched on the exchange, assets on secure blockchains and when there are good reasons to keep it. That last is at our discretion but in the past has included things like the developer recovering from a personal tragedy or a market losing volume because it was disabled while the development team fixed a fork.

Q] Why the minimum of 0.5 BTC per day?

A] We've tried to pick a reasonably low minimum that just shows us user interest. We're going to update this criteria at a future date because some developers have chosen to game the system by trading the minimum back and forth.

Q] Can I pay to keep my coin on Bittrex?

A] No. We'd rather you spend that money on developing the community and interest of your coin. We all win if that happens.

Q] So if I just self trade and meet the minimum, you will keep my coin listed?

A] No. If we catch you doing this, we will just delist the coin without warning. We want to see real trading and growth.

Source

@roomservice (who have a photo of the Great Stifler in his profile =D) have made this comment

which was immediately added to the @tech-trends posts as an Update. I'm no expert about this technical info, but I do believe that if @tech-trends decides to post it as an update of this post, he probably believe that should be a pertinent info.

Let me know what you my dear Steemian thought about this new "Crypto Braking news" post series I'm willing to do when I get fresh indo like that from somewhere.

See ya!


Ps: Remember by just clicking in the resteem button you will be giving an amazingly support to great content authors to keep doing his good work. So do not hesitate to resteem or even making a post about a good content you have seen, share it with your Steemit brothers and sisters! ^^



Thank you for reading my post!

I'm @andyluy a Brazilian jobless college student, freshman at cryptocurrencies who live in Rio de Janeiro, love to make new friends , travel around the world, having adventures and believe that steemit can help me to gather 20,000 $ to realize my life dream to study in Japan!

I intend to post about amazing things I've experienced, and hope soon be able to bring you with me to my new adventures !

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I am buying the dip. Bitshares will get out of this stronger and more people will learn about it as the defacto decentralized exchange when this will make the bigger news. Looking forward to that.

Since there are a lot of experienced people holding BTS such as ADSactly team i believe you're absolutely right on this prediction !

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:

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

wow nice post i like it

@andyluy, Thanks for the information. I can't say much on this now, but I will later check it out....I have also resteemed this post to pass the message across to others.

This post received a 2.11% upvote from @randowhale thanks to @andyluy! To learn more, check out @randowhale 101 - Everything You Need to Know!

Very good . . I have followed you @andyluy

Bittrex can kiss my BTS loving ass goodbye and I am sure many others too ! But then I dont use centalised exchanges to be frank, why would I when I have Bitshres !1 All Steemit wallet holders should open an account at Bitshares they just go hand in hand as Dan intended !