My use of the Bit20 platform
I sent 20 dollars from my bitshares account to the Bit20 account then left it there for 2 weeks, and in that 2 weeks my 20 dollars ,which also included fees for trading on the bitshares online platform, went to 28 dollars. I don't know much about this index other than what was communicated with me by a member.
" Me: Your coin has an extreme low value. Is it still trading?
BITTWENTY :
The index Bit20 is still trading. The volume is not high because it's a new market but it's growing. The value is not low. At least in my opinion, it's pretty much the contrary.
Have a look here :
https://coinmarketcap.com/currencies/bit20/
Me: Then how can I work with you?
Me: Also the valuation of the token is about 200,000 dollars. It would be difficult to buy the whole coin. Can we negotiate a price. Is there a protocol applied to this cryptocurrency since there is only twenty? I am interested in working something out. I work for a company where we give out incentives.
BITTWENTY:
Your question reflect a lack of understanding of the basics of this project. If you are not familiar with BitShares smartcoins, you should start there
https://bitshares.org/technology/price-stable-cryptocurrencies/
If you do, you will find all your answers in the FAQ and Bit20 section of the website.
https://www.bittwenty.com/
Me: I have read it yet I still don't understand. Can you elaborate more on the function and purpose of the coin.
BITTWENTY:
I'm sorry to hear that, I spend a lot of time to explain everything in the website.
I can't explain it better. Much less in a mail. I hope you find the time to dig a little deeper in the BitShares smartcoins and bit20 website, you'll see, it's very interesting even if at first it may look hard to grasp.
Me: Yeah, I looked at the information so as I understand it I buy Bitshare equivalent to your coin and hold it as collateral? Am I wrong?
BITTWENTY :
You only need you buy the coin. That's all. The coin represent the value of the 20 coins in the index and the price of your investment will grown with these coins. The collateral part with BTS is if you want to trade by short selling. As a simple investor, you don't need to worry about it. Just buy BTS to be able to buy Bit20 in the Bithares DEX and you have it !
Me: The coin is 200,000 dollars worth of Bitshares. I would have to buy the whole coin of bit20 to make a profit, or am I wrong?
BITTWENTY:
Yes, you are wrong. I really can't spend hours to explain to everyone what is already well explained in the website. If the website is not enough, please seek more information on Bitshares smartcoins. If it is still not enough, you may consider another investment. "
That is what I did now I am reinvesting those small gains back into the trade, and trying my best to see if I can work this.
interesting ... seems to be profitable for you no?
I cannot give a different answer that is why I am just following the advice given to me about a year and telling the crypto/Steemit community since there is no one else telling their own story with this platform. The more Upvotes I can get the more I can do this
I suggest you try first to understand how smartcoins work in the Bitshares universe
(for example the bitUSD or the bitCNY).
Then read again the site www.bittwenty.com and everything will seem much simpler.
The Bit20 (bittwenty or BTWTY) has a very important value, that was not wanted at the beginning, but the index has progressed a lot since July 2015.
Trading is usually done on the smallest decimals 0.00001 BTWTY
That's precisely why the Twentix was created : a Twentix is the 5th decimal of a Bit20.
The Twentix is worth 1/100000 of a Bit20.
It is much easier to trade.
www.twentix.info
What I am trying to do is make money not lose money if this is as great as it is touted to be that should be no problem even with the high risk which I have already demonstrated.