How BTER Upset My Donkey; False Carrots (Cheap BTS) And BTER Opening Bitshares 2.0 Market In The Coming Days
BTER a little slow off the mark, but they are about to open their BTS 2.0 market 1 year after launch.
In doing my preparation for the Bitshares State of the Network report (due out later today - follow @steempower to make sure you don't miss it). i noticed a known BTER account btercom shot up the rich list with a Week on Week change of 26 Million BTS.
Looking into this a little more i can see that this was not a deposit but a claim from the pre-graphene Bitshares chain.
I logged into my old BTER account and happened to have a tiny amount of BTC on there; i used this to purchase some bargain basement priced BTS. it worked, Awesome!; i checked to see if i could withdraw the BTS but found that the wallet was disabled. hmmm....
I look into this further and found some test transactions between btercom, bterdeposit and aaaaaaaaaaaaaaaaa. looks like they are ready to start ramping up again.
After this i checked their news feed and found the following comment
Sold! i want all the cheap BTS!!
There is currently 3.3 BTC worth of BTS on the market at BTER and from my previous test purchasing is not a problem, the only non functional part of the whole process is the withdrawal which the tweet suggests will be operational within 2 days time. After considering the risks i decided that i would gather as much BTC as i could and attempt to clean up as much of the market as possible and bring it closer to its market price.
After transferring the BTC in to make the purchase (without any further tests) i clicked my buy price and then selected the max amount of BTC that i had moved in.. I then proceeded to hover over the buy button for a few seconds considering my risk profile, then slammed my finger down on the mouse with confidence....
A confirmation window appears.. damn!!, again hovering over the confirm button for a few seconds i committed myself :) click the button and with a smile on my face looked towards my balance to watch my newly acquired BTS roll in......
Failed!!
Between the time i had made my test transaction and the time that my BTC had been confirmed and ready to use the market had been disabled.
There is still 3.3 BTC worth of cheap BTS locked on the books; but the question is when the market opens will BTER allow this to be sniped by the quickest bidder....???
TL;DR
- BTER will be opening their BTS market in the next couple of days
- BTER has claimed 26 Million BTS, putting them in 4th position on the BTS rich list with a total of 38 Million BTS in their wallet.
- BTC-BTS trading is currently DISABLED
- BTS Deposits/Withdrawals is currently DISABLED
- There is currently 3.3 BTC worth of cheap BTS for the lucky sniper that happens to be around when the markets are enabled.
A Very Good post
excellent
I stopped using it when I noticed I couldn't withdraw anything without providing them a lot of verification.
Still baffles me that exchanges exist when you can freely deposit but once you want to withdraw they want to see verification and ID. Maybe alert users of that before they deposit?
Not sure what has changed since then, haven't used it since the dogecoin days.
Wow. That is slightly concerning.. i will let you know if i cannot get my BTC out :/
Hope they have changed that since then.. I remember bitstamp had the same policy at one point, not to mention mt.gox.
So many funds that have gone lost cause the middle-man the exchange has caused issues. Kinda ironic thinking they are offering a service to buy/sell a currency which is supposed to eliminate middle-men, and cause all these unnecessary problems for users instead, while profiting off of them.
Can't wait for decentralized exchanges to become more popular.
Happy to report there was no issue in withdrawing my BTC :)
Awesome! Glad to hear it!
Hope it is not another Scam!