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Title: BitShares - why has it dropped like a rock Post by: stealth923 on October 17, 2015, 06:59:02 AM Just out of curiosity, I dont own any Bitshares, but could someone please give a reason why the price has been dropping so fast?
Is it just the hype of the release then everone sold or is there something more sinister at play? Thanks. Title: Re: BitShares - why has it dropped like a rock Post by: r0ach on October 17, 2015, 08:14:20 AM Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts. There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time. When they remove 200btc buy support, market usually just instantly crashes. Pretty much any coin on Poloniex is a complete fugazi due to stuff like this. They never should have added leveraged trading because none of these coins have liquidity to support it.
You can toss in a short then immediately remove 200btc buy support and just automatically get paid. Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now. Poloniex thinks it's a great idea because they increase volume, but it will probably just kill off their entire user base. If the risk is always way higher than the reward, people will just stop trading at all. Title: Re: BitShares - why has it dropped like a rock Post by: erre on October 17, 2015, 08:16:06 AM Just out of curiosity, I dont own any Bitshares, but could someone please give a reason why the price has been dropping so fast? Is it just the hype of the release then everone sold or is there something more sinister at play? Thanks. I think that's about they fussing about graphene and hyperbolic speed for bitshares 2.0, that was simply not true. Title: Re: BitShares - why has it dropped like a rock Post by: sumantso on October 17, 2015, 08:29:49 AM Its just market - enjoy the roller coaster. It will recover soon enough, that what whales do.
Personally I have stopped accumulating since Dan dreamed up his hare brained Brownie scheme, and it has been a lot better simply short term trading to make profit. Title: Re: BitShares - why has it dropped like a rock Post by: l8orre on October 17, 2015, 10:52:45 AM And then of course, there is this: https://bitsharestalk.org/index.php/topic,17354.0.html (https://bitsharestalk.org/index.php/topic,17354.0.html) Quote What are Brownie Points Good for? Technically all Brownie Points mean is that you are on my good side. Brownie Points are not redeemable for anything and do not create any obligations between me and anyone else. BROWNIE.PTS is a tool that allows me to keep track of everyone who is in my good favor and to what extent. You will want to make sure you claim your BROWNIE.PTS because it would just be rude to refuse the BROWNIE.PTS and one day you may regret it; Karma can be a Bitch. No Obligations BROWNIE.PTS is merely a tool for my own use and I may choose to stop issuing brownie points at any time for any reason. I may reward them (or not) as I see fit, in the amounts I see fit, for the reasons I see fit. I may also seize brownie points from any account if you fall out of favor and anyone who complains in any way about how Brownie Points are issued or how I use Brownie Points is certainly not in my favor and may lose any Brownie Points they have earned. And this: https://bitsharestalk.org/index.php/topic,19042.msg244950.html#msg244950 (https://bitsharestalk.org/index.php/topic,19042.msg244950.html#msg244950) Quote I did not contact that particular exchange individually. We gave the whole world NOTICE 30 days in advance and made posts on the proper threads where all upgrade announcements are posted. [translation:] How dare those impertinent imbeciles not follow our most generously timed proclamations!! NO BROWNIE POINTS!!! Meaning that Bitshares is nothing but an inherently flawed corporate token that is peddled by a bunch of really arrogant elitists. In the Bitschares design, there are delegates, and there are lesser participants. Which begs the question: Who are these anointed ones? And who anoints them? Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 17, 2015, 10:57:31 AM Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts. There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time. When they remove 200btc buy support, market usually just instantly crashes. Pretty much any coin on Poloniex is a complete fugazi due to stuff like this. They never should have added leveraged trading because none of these coins have liquidity to support it. You can toss in a short then immediately remove 200btc buy support and just automatically get paid. Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now. Poloniex thinks it's a great idea because they increase liquidity, but it will probably just kill off their entire user base. If the risk is always way higher than the reward, people will just stop trading at all. So would you advice people to buy and invest in BTS? Title: Re: BitShares - why has it dropped like a rock Post by: Habeler876 on October 17, 2015, 11:34:13 AM Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts. There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time. When they remove 200btc buy support, market usually just instantly crashes. Pretty much any coin on Poloniex is a complete fugazi due to stuff like this. They never should have added leveraged trading because none of these coins have liquidity to support it. You can toss in a short then immediately remove 200btc buy support and just automatically get paid. Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now. Poloniex thinks it's a great idea because they increase liquidity, but it will probably just kill off their entire user base. If the risk is always way higher than the reward, people will just stop trading at all. So would you advice people to buy and invest in BTS? Buying for investing, yes. Buying with margin, no. Title: Re: BitShares - why has it dropped like a rock Post by: Spoetnik on October 17, 2015, 12:01:17 PM crap launched and supported by clowns who are taking your money.
don't be low hanging fruit (AKA: a bag holder) Title: Re: BitShares - why has it dropped like a rock Post by: cisahasa on October 17, 2015, 12:41:21 PM is there any coin that havent dropped? no.
Title: Re: BitShares - why has it dropped like a rock Post by: Scamlarimer on October 17, 2015, 12:49:42 PM We here at bitchshares are proud to announce
Applesauce points. What are applesauce points? They bring that woo woo [ thank you bubbrubb] back into crypto. Applesauce points are given out by ME to people that make awesome comments on btt. Expect applesauce points to be merged into bts3.0 Now, who wants some applesauce points? Roach Im tossing a ten pack in your direction. And then of course, there is this: https://bitsharestalk.org/index.php/topic,17354.0.html (https://bitsharestalk.org/index.php/topic,17354.0.html) Quote What are Brownie Points Good for? Technically all Brownie Points mean is that you are on my good side. Brownie Points are not redeemable for anything and do not create any obligations between me and anyone else. BROWNIE.PTS is a tool that allows me to keep track of everyone who is in my good favor and to what extent. You will want to make sure you claim your BROWNIE.PTS because it would just be rude to refuse the BROWNIE.PTS and one day you may regret it; Karma can be a Bitch. No Obligations BROWNIE.PTS is merely a tool for my own use and I may choose to stop issuing brownie points at any time for any reason. I may reward them (or not) as I see fit, in the amounts I see fit, for the reasons I see fit. I may also seize brownie points from any account if you fall out of favor and anyone who complains in any way about how Brownie Points are issued or how I use Brownie Points is certainly not in my favor and may lose any Brownie Points they have earned. And this: https://bitsharestalk.org/index.php/topic,19042.msg244950.html#msg244950 (https://bitsharestalk.org/index.php/topic,19042.msg244950.html#msg244950) Quote I did not contact that particular exchange individually. We gave the whole world NOTICE 30 days in advance and made posts on the proper threads where all upgrade announcements are posted. [translation:] How dare those impertinent imbeciles not follow our most generously timed proclamations!! NO BROWNIE POINTS!!! Meaning that Bitshares is nothing but an inherently flawed corporate token that is peddled by a bunch of really arrogant elitists. In the Bitschares design, there are delegates, and there are lesser participants. Which begs the question: Who are these anointed ones? And who anoints them? Title: Re: BitShares - why has it dropped like a rock Post by: tat123 on October 17, 2015, 01:16:14 PM Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts. There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time. When they remove 200btc buy support, market usually just instantly crashes. Pretty much any coin on Poloniex is a complete fugazi due to stuff like this. They never should have added leveraged trading because none of these coins have liquidity to support it. You can toss in a short then immediately remove 200btc buy support and just automatically get paid. Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now. Poloniex thinks it's a great idea because they increase liquidity, but it will probably just kill off their entire user base. If the risk is always way higher than the reward, people will just stop trading at all. I'm watching polo all the time, and this is exactly what is happening. It's not only BTS, it's any coin with volume. The trolls on Polo are a bunch of guys who play poker together all the time and know each others moves. Throw TA out the window, and learn troll-speak, or just hodl and hope your coin breaks free of the manipulators. As it stands... margin trading will give an opportunity for a move or two up, based on whatever the news is about, but a lot more opportunities will be on the way down. Bleeding the remaining hold outs, or believers. Has anything really changed from the miners, devs, or early adopters dumping? Title: Re: BitShares - why has it dropped like a rock Post by: r0ach on October 17, 2015, 02:00:12 PM I'm watching polo all the time, and this is exactly what is happening. It's not only BTS, it's any coin with volume. The trolls on Polo are a bunch of guys who play poker together all the time and know each others moves. Throw TA out the window, and learn troll-speak, or just hodl and hope your coin breaks free of the manipulators. As it stands... margin trading will give an opportunity for a move or two up, based on whatever the news is about, but a lot more opportunities will be on the way down. Bleeding the remaining hold outs, or believers. Has anything really changed from the miners, devs, or early adopters dumping? Which is why I had to exit BTS while I was still up in profit. It was far too risky to stay in with all these clowns trying to manipulate with 500-1000btc in their pockets adding then removing 200+ btc staggered walls constantly. Then when the staggered buy walls are removed and buy side drops in half or less, immediately a ton of staggered shorts pop up on sell side with coins they don't even own and just pay some miniscule interest for to manipulate. Poloniex claims they are "anti-manipulation" lol. Margin in illiquid markets serves zero purpose other than to manipulate. Every coin on that exchange with margin enabled is a death trap. Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 17, 2015, 02:07:47 PM Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts. There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time. When they remove 200btc buy support, market usually just instantly crashes. Pretty much any coin on Poloniex is a complete fugazi due to stuff like this. They never should have added leveraged trading because none of these coins have liquidity to support it. You can toss in a short then immediately remove 200btc buy support and just automatically get paid. Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now. Poloniex thinks it's a great idea because they increase liquidity, but it will probably just kill off their entire user base. If the risk is always way higher than the reward, people will just stop trading at all. So would you advice people to buy and invest in BTS? Buying for investing, yes. Buying with margin, no. lol. k... Title: Re: BitShares - why has it dropped like a rock Post by: Nxtblg on October 17, 2015, 02:47:29 PM Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts. There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time. When they remove 200btc buy support, market usually just instantly crashes. Pretty much any coin on Poloniex is a complete fugazi due to stuff like this. They never should have added leveraged trading because none of these coins have liquidity to support it. So that short squeeze turned into a successful bear raid. So it goes in the altcoin jungle... Title: Re: BitShares - why has it dropped like a rock Post by: Nxtblg on October 17, 2015, 02:48:25 PM Just out of curiosity, I dont own any Bitshares, but could someone please give a reason why the price has been dropping so fast? Is it just the hype of the release then everone sold or is there something more sinister at play? Thanks. I think that's about they fussing about graphene and hyperbolic speed for bitshares 2.0, that was simply not true. Yep, just like a halving. "Pump on the PRE-ANN, dump on the ANN." Title: Re: BitShares - why has it dropped like a rock Post by: Nxtblg on October 17, 2015, 02:49:46 PM Which is why I had to exit BTS while I was still up in profit. Meself, I sold half but kept half. (sigh.) Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 17, 2015, 02:54:14 PM is there any coin that havent dropped? no. Spoken like a true bagholder. Title: Re: BitShares - why has it dropped like a rock Post by: NattyLiteCoin on October 17, 2015, 02:56:16 PM (1) margins called
(2) BTC rise (3) shakey release (4) poor UI / not intuitive to use (5) philosophically, very complex to the average guy or gal (6) sharks that don't give a fuck about tech, and will eat you I'm almost about to cut the losses as BTC will be growing over the next 4 months, I'm usually wrong so you should buy, hold, sell or do nothing. Title: Re: BitShares - why has it dropped like a rock Post by: MikeCoin on October 17, 2015, 03:30:13 PM is there any coin that havent dropped? no. Spoken like a true bagholder. Agreed all but bitcoins always fails :/ Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 17, 2015, 03:34:11 PM is there any coin that havent dropped? no. Spoken like a true bagholder. Agreed all but bitcoins always fails :/ Didn't say that. But ok... :D Title: Re: BitShares - why has it dropped like a rock Post by: brekyrself on October 17, 2015, 05:00:36 PM (1) margins called (2) BTC rise (3) shakey release (4) poor UI / not intuitive to use (5) philosophically, very complex to the average guy or gal (6) sharks that don't give a fuck about tech, and will eat you I'm almost about to cut the losses as BTC will be growing over the next 4 months, I'm usually wrong so you should buy, hold, sell or do nothing. #5 especially. This is going to take awhile for people to comprehend all the ins and outs. Much more in depth compared with btc's simple wallet of sending and receiving. Ability to have exchanges order books built into the BTS ecosystem, crazy. Market pegged assets, UIA, referral system, witnesses, workers, hosted wallets, lite wallets, information overload. Getting into BTS and holding some now is not a bad idea. Trading volume is decent thus you could always get out of your position later on. Title: Re: BitShares - why has it dropped like a rock Post by: Spoetnik on October 17, 2015, 07:28:41 PM this guy / coin is linked to Protoshares (PTS)
so i have a problem with this.. not just because it's a heap of crap technically but because of the track record of the dev.. he thinks he is squeaky clean around here but i busted him open like a can of Apple Sauce way back LOL The guy that made Memory coin (which is full of scammy antics) Launched PTS (Protoshares) ..when he posted an ANN topic i kept asking.. So what are you going to do about Memory Coin ? I was ignored at first, blatantly which is dumb because it's a fair question if some "Dev" keeps rolling out coins.. So after 10 pages on the ANN of NOBODY caring at all about the dev's track record or even asking any questions aside from "where is the windows QT ?" i ended up getting a pseudo professional crafted response from dev man and attacked from his shills and dummy accounts (Note: Dev's wised up long ago and realized you should create 100 spare accounts for flaming on Bitcointalk to avoid being held responsible) He kept playing dumb and then i kept getting attacked for a while then out of the blue.. he pulled a stunt that really threw me for a loop.. He promptly edited the topic ANN title to say something like [From Invictus-Innovations Inc.] then FreeTrade the memorycoin dev posted back to me on the PTS topic that he had nothing to do with making the coin at all the only thing he did was post the topic he said LOL ::) So believe him ? Why would that info be absent 101% on launch for the first 10 or 15 pages ? Why was there never EVER any mention of this company until i pushed for an answer ? Seemed a mighty convenient way to distance himself from a bad track record and get a clean slate now don't ya think guys ? ahahhah I think he lied.. straight up ! I don't believe that crap for one second.. YOU all apparently did (or never bothered to read the first few pages of the ANN topic) Hey.. i know your all busy why read ANY part of the ANN topic right ? Your busy.. where is teh damn Windows QT !!!11111ONE liek OMG! so.. From that point on he is clearly linked to ALL this Bitshares crap.. and WOW good god is he persistent LOL I watched him push that crap here non stop 24/7 for a couple years.. that is dedication to a scam guys AHHAHAH You know guys there is no one to fault but yourselves if you get burned because information is posted publicly as a warning for all to see. All you have to is.. DO YOUR HOMEWORK (before spending your money on ponzi tokens) But wait.. sorry i forgot you guys don't care if something is scammy because you will say.. But, but, but i made 6 Bitcoin on Scam Coin v2.0 and i know that because old members in the scene said that to me endlessly on Chat box's last few years. You guys actually admit it LOL You support scammers so you can make money ? then i hope you guys lose your money in the end.. People like that are a cancer to crypto.. the greedy selfish ponzi coin buyers and their pushers. And you guys will lose your money in the end too.. they will let ya make a few bucks so they can take it all later.. A classic scam ploy.. They are smarter than you greedy crap coin buyers and they have their own set of rules in crypto. YOU WILL LOSE THE GAME ..trust me ;) ANd don't even get me started on MemoryCoin 8) ::) ;D Title: Re: BitShares - why has it dropped like a rock Post by: upsidedown75 on October 17, 2015, 07:37:14 PM it is as every time. there is a big new coming up for a coin and the price goes up. then tech comes out and a big dump happens. you can see this pattern for a bunch of various coins out there.
Title: Re: BitShares - why has it dropped like a rock Post by: nomoreheroes7 on October 17, 2015, 07:46:01 PM Agreed with everything r0ach has posted. Margin is killing the altcoin scene.
Title: Re: BitShares - why has it dropped like a rock Post by: DecentralizeEconomics on October 17, 2015, 09:22:30 PM And then of course, there is this: https://bitsharestalk.org/index.php/topic,17354.0.html (https://bitsharestalk.org/index.php/topic,17354.0.html) Quote What are Brownie Points Good for? Technically all Brownie Points mean is that you are on my good side. Brownie Points are not redeemable for anything and do not create any obligations between me and anyone else. BROWNIE.PTS is a tool that allows me to keep track of everyone who is in my good favor and to what extent. You will want to make sure you claim your BROWNIE.PTS because it would just be rude to refuse the BROWNIE.PTS and one day you may regret it; Karma can be a Bitch. No Obligations BROWNIE.PTS is merely a tool for my own use and I may choose to stop issuing brownie points at any time for any reason. I may reward them (or not) as I see fit, in the amounts I see fit, for the reasons I see fit. I may also seize brownie points from any account if you fall out of favor and anyone who complains in any way about how Brownie Points are issued or how I use Brownie Points is certainly not in my favor and may lose any Brownie Points they have earned. And this: https://bitsharestalk.org/index.php/topic,19042.msg244950.html#msg244950 (https://bitsharestalk.org/index.php/topic,19042.msg244950.html#msg244950) Quote I did not contact that particular exchange individually. We gave the whole world NOTICE 30 days in advance and made posts on the proper threads where all upgrade announcements are posted. [translation:] How dare those impertinent imbeciles not follow our most generously timed proclamations!! NO BROWNIE POINTS!!! Meaning that Bitshares is nothing but an inherently flawed corporate token that is peddled by a bunch of really arrogant elitists. In the Bitschares design, there are delegates, and there are lesser participants. Which begs the question: Who are these anointed ones? And who anoints them? http://s11.postimg.org/86ar3kidf/King_Brownie.jpg Title: Re: BitShares - why has it dropped like a rock Post by: Scamlarimer on October 17, 2015, 10:25:59 PM Title: Re: BitShares - why has it dropped like a rock Post by: criptix on October 17, 2015, 10:58:12 PM Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts. There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time. When they remove 200btc buy support, market usually just instantly crashes. Pretty much any coin on Poloniex is a complete fugazi due to stuff like this. They never should have added leveraged trading because none of these coins have liquidity to support it. You can toss in a short then immediately remove 200btc buy support and just automatically get paid. Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now. Poloniex thinks it's a great idea because they increase volume, but it will probably just kill off their entire user base. If the risk is always way higher than the reward, people will just stop trading at all. Didnt you call a hyper pump and made fun of a 100 btc short? Or is alzheimer greeting? Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 18, 2015, 12:00:46 AM Agreed with everything r0ach has posted. Margin is killing the altcoin scene. Wrong. Did margin trading kill Wallstreet? He's just saying that because BTS was manipulated in the direction he did not like. If it was manipulated to go up to .001, would you think he cared how it got there? It's just a simple case of sour grapes. Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 18, 2015, 12:13:05 AM the reason for the price drop is simple: anybody who is trading BTS on Poloniex, and not Open Ledger (utilizes internal ex) is keeping the market thin and thus easy to manipulate and is directly pushing the price of BitShares down. Those who say that they want the BTS price to rise, but trade on Poloniex are mathematically either selfish/greedy or stupid. TLDR: greed It's greed that makes a stock, commodity, crypto, etc.. rise as well. When something is traded in an open market, it will always play under the rules of supply and demand, bulls and bears, mania and fear, etc... It's just how the game works. Trading on Open Ledger won't make a difference. Title: Re: BitShares - why has it dropped like a rock Post by: tat123 on October 18, 2015, 12:25:13 AM Agreed with everything r0ach has posted. Margin is killing the altcoin scene. Wrong. Did margin trading kill Wallstreet? He's just saying that because BTS was manipulated in the direction he did not like. If it was manipulated to go up to .001, would you think he cared how it got there? It's just a simple case of sour grapes. The lack of liquidity is killing alts on margin. They do not have enough support to battle the bears. Introducing it into immature markets is stupid. Everybody loves to short, but who likes to go long, when buy the news sell the whatever is the crypto ethos? Did margin kill Wallstreet? Of course it did. Removing Glass steagall and turning the banks into casinos sure didn't help. 7 years after the collapse, its worse than ever. But all is good, because the mother of Derivatives Blythe Masters is now into Blockchain Tech. Save us Wallstreet! Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 18, 2015, 12:38:30 AM Wallstreet dead? Lol. They're making more money than ever. Even if it crashes again, it will always continue and go back up again. Trading has always been around. It will not go away, hence open markets will not go away. If you can't accept that downswings will always be a part of trading, don't play.
Do not blame external factors for your losses. It was your decision to play a game you could lose and you took that risk. Title: Re: BitShares - why has it dropped like a rock Post by: tat123 on October 18, 2015, 12:57:27 AM Wallstreet dead? Lol. They're making more money than ever. Even if it crashes again, it will always continue and go back up again. Trading has always been around. It will not go away, hence open markets will not go away. If you can't aceept that downswings will always be a part of trading, don't play. Do not blame external factors for your losses. It was your decision to play a game you could lose and you took that risk. China Officially Sold A Quarter Trillion Treasurys In The Past Year... does this sound like confidence? The entire system is based on the US buying it own debt, which is monetization. Or is printing money and giving it to the banks ok with you? Can't export that inflation to China anymore... no worries. The middle class will absorb it with their shitty part time jobs. How did it work out in Japan? Zombie banks for 2 decades and over 300% debt to GDP. Dead... sorry. How about zombie? As far as the downswings? I am a trader, so I love it. But there is a part of me that wants to see this space succeed. Just sayin these markets are not conducive to noobs. Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 18, 2015, 01:17:53 AM Pffft. We've seen every doomsday scenario all over the place for years and years. But you know what, Wallstreet and the banksters always have an angle and always make money out of whatever doomsday scenario there is. They could even make the US govt. to bail them out.
As for this 'space'. It will succeed if it's good and ready. If not, then it's a bit way ahead of its time. I believe in crypto. Not just for finance, but for everything. Privacy, decentralized voting, etc.. It's the future. But my point is don't blame your losses on others and or external factors when it was you who made a decision to take on a risk without assesing the situation well. Title: Re: BitShares - why has it dropped like a rock Post by: tat123 on October 18, 2015, 01:51:49 AM Pffft. We've seen every doomsday scenario all over the place for years and years. But you know what, Wallstreet and the banksters always have an angle and always make money out of whatever doomsday scenario there is. They could even make the US govt. to bail them out. As for this 'space'. It will succeed if it's good and ready. If not, then it's a bit way ahead of its time. I believe in crypto. Not just for finance, but for everything. Privacy, decentralized voting, etc.. It's the future. But my point is don't blame your losses on others and or external factors when it was you who made a decision to take on a risk without assesing the situation well. Dude... what gives you the impression I have lost? I believe ETH, BTS, MAID, and a few others have a decent chance of succeeding in time, but I would never hodl them longer than a week or two. Why? Because like r0ach said... why support something when it's obvious the shorts are going to drive the price down again. There are always more haters, than supporters. FACT. It has nothing to do with bagholding, it's a commentary on the markets. As far as doomsday is concerned... Since 2012, the Federal Reserve have been engaged in a pre-emptive war against financial risk, and other central banks are forced to follow suit in a self-reinforcing cycle of devaluation and a mad game of Prisoner’s Dilemma. The prisoners’ dilemma is a classic story about how individually rational decisions can lead to a socially undesirable outcome. Here’s the original story: There are two partners in crime who get arrested by the police. The DA visits each prisoner and says the following: "If you both stay quiet, we’ll convict each of you on a minor offense, and you’ll get a year in jail. If both of you confess, you’ll both get convicted and get 10 years in jail. If you confess and your buddy stays quiet, then you’ll go free, and he’ll go to jail for 15 years. And I’m making the very same offer to him." Imagine you’re one of the prisoners. It turns out that no matter what you think your partner’s going to do, it makes sense for you to confess. Why? Because if he’s staying quiet, you can avoid a year in jail by confessing. And if he’s confessing, you can reduce your sentence from 15 years to 10 years by confessing. So you decide to confess. Your partner, facing the same incentives, also confesses. So you both go to jail for 10 years, even though you’d both have been better off if you’d both stayed quiet. Stop with the pejoritive responses of bagholder, and never lose what you can afford, and see what he is really talking about. Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 18, 2015, 02:18:21 AM Pffft. We've seen every doomsday scenario all over the place for years and years. But you know what, Wallstreet and the banksters always have an angle and always make money out of whatever doomsday scenario there is. They could even make the US govt. to bail them out. As for this 'space'. It will succeed if it's good and ready. If not, then it's a bit way ahead of its time. I believe in crypto. Not just for finance, but for everything. Privacy, decentralized voting, etc.. It's the future. But my point is don't blame your losses on others and or external factors when it was you who made a decision to take on a risk without assesing the situation well. Dude... what gives you the impression I have lost? I believe ETH, BTS, MAID, and a few others have a decent chance of succeeding in time, but I would never hodl them longer than a week or two. Why? Because like r0ach said... why support something when it's obvious the shorts are going to drive the price down again. There are always more haters, than supporters. FACT. It has nothing to do with bagholding, it's a commentary on the markets. As far as doomsday is concerned... Since 2012, the Federal Reserve have been engaged in a pre-emptive war against financial risk, and other central banks are forced to follow suit in a self-reinforcing cycle of devaluation and a mad game of Prisoner’s Dilemma. The prisoners’ dilemma is a classic story about how individually rational decisions can lead to a socially undesirable outcome. Here’s the original story: There are two partners in crime who get arrested by the police. The DA visits each prisoner and says the following: "If you both stay quiet, we’ll convict each of you on a minor offense, and you’ll get a year in jail. If both of you confess, you’ll both get convicted and get 10 years in jail. If you confess and your buddy stays quiet, then you’ll go free, and he’ll go to jail for 15 years. And I’m making the very same offer to him." Imagine you’re one of the prisoners. It turns out that no matter what you think your partner’s going to do, it makes sense for you to confess. Why? Because if he’s staying quiet, you can avoid a year in jail by confessing. And if he’s confessing, you can reduce your sentence from 15 years to 10 years by confessing. So you decide to confess. Your partner, facing the same incentives, also confesses. So you both go to jail for 10 years, even though you’d both have been better off if you’d both stayed quiet. Stop with the pejoritive responses of bagholder, and never lose what you can afford, and see what he is really talking about. Comment wasn't meant for you. I meant that in general. But yeah, shady things have always been going on in the altcoin scene. I wouldn't be suprised if the devs were in on it. It's not Bitcoin 2.0, it's Penny Stocks 2.0. As for Wallstreet and the banksters, I could care less what the write about it in mainstream media. They OWN the media. So it could all just be a bunch of lies for whatever purposes they device. Title: Re: BitShares - why has it dropped like a rock Post by: Spoetnik on October 18, 2015, 03:03:50 AM the reason for the price drop is simple: anybody who is trading BTS on Poloniex, and not Open Ledger (utilizes internal ex) is keeping the market thin and thus easy to manipulate and is directly pushing the price of BitShares down. Those who say that they want the BTS price to rise, but trade on Poloniex are mathematically either selfish/greedy or stupid. TLDR: greed It's greed that makes a stock, commodity, crypto, etc.. rise as well. When something is traded in an open market, it will always play under the rules of supply and demand, bulls and bears, mania and fear, etc... It's just how the game works. Trading on Open Ledger won't make a difference. no. what drives the financial markets is investments with real potential for growth.. such as Apple or IBM etc. Not derivatives built on lending loans to poor people who can't afford houses and can't afford to pay the loan. that is why crap is worthless and valuable stocks are expensive. you skipped over the part where smart investors follow a rule.. growth. ask any trading pro in the world for what to look for in a good stock market investment. and don't forget to read up on how and why the worlds economy crashed in 2008 and why many pro traders think another crashing is looming. guys the worlds economy tanked because of greedy idiots trading worthless derivatives and a lack of desire by Greenspan to regulate it. sound familiar ? ::) so what is played out in crypto ? ..the same damn thing. Title: Re: BitShares - why has it dropped like a rock Post by: DecentralizeEconomics on October 18, 2015, 04:03:26 AM http://i58.tinypic.com/2il0nkm.gif Agreed with everything r0ach has posted. Margin is killing the altcoin scene. Wrong. Did margin trading kill Wallstreet? He's just saying that because BTS was manipulated in the direction he did not like. If it was manipulated to go up to .001, would you think he cared how it got there? It's just a simple case of sour grapes. The lack of liquidity is killing alts on margin. They do not have enough support to battle the bears. Introducing it into immature markets is stupid. Everybody loves to short, but who likes to go long, when buy the news sell the whatever is the crypto ethos? Did margin kill Wallstreet? Of course it did. Removing Glass steagall and turning the banks into casinos sure didn't help. 7 years after the collapse, its worse than ever. But all is good, because the mother of Derivatives Blythe Masters is now into Blockchain Tech. Save us Wallstreet! "Buy the rumor, sell the news" has been around forever and isn't just "the crypto ethos". People will go long or sell regardless of margin. You simply don't like shorts and want to restrict free markets. Are you part of the Chinese communist government's price protection team? Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 18, 2015, 04:16:00 AM the reason for the price drop is simple: anybody who is trading BTS on Poloniex, and not Open Ledger (utilizes internal ex) is keeping the market thin and thus easy to manipulate and is directly pushing the price of BitShares down. Those who say that they want the BTS price to rise, but trade on Poloniex are mathematically either selfish/greedy or stupid. TLDR: greed It's greed that makes a stock, commodity, crypto, etc.. rise as well. When something is traded in an open market, it will always play under the rules of supply and demand, bulls and bears, mania and fear, etc... It's just how the game works. Trading on Open Ledger won't make a difference. no. what drives the financial markets is investments with real potential for growth.. such as Apple or IBM etc. Not derivatives built on lending loans to poor people who can't afford houses and can't afford to pay the loan. that is why crap is worthless and valuable stocks are expensive. you skipped over the part where smart investors follow a rule.. growth. ask any trading pro in the world for what to look for in a good stock market investment. and don't forget to read up on how and why the worlds economy crashed in 2008 and why many pro traders think another crashing is looming. guys the worlds economy tanked because of greedy idiots trading worthless derivatives and a lack of desire by Greenspan to regulate it. sound familiar ? ::) so what is played out in crypto ? ..the same damn thing. You're right. But in my mind, right now, the altcoin scene = penny stock scene. So there are no IBMs, Apple's and fundamentally valuable 'companies' in the altcoin sector. So I won't include that part in the equation right now. Title: Re: BitShares - why has it dropped like a rock Post by: r0ach on October 18, 2015, 04:18:19 AM this guy / coin is linked to Protoshares (PTS) The guy that made Memory coin (which is full of scammy antics) Freetrade and Larimer are not the same person Spoeterman. https://pbs.twimg.com/profile_images/2306531900/sec5qf2agnxnlnxcjtjk_400x400.png Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 18, 2015, 04:43:51 AM this guy / coin is linked to Protoshares (PTS) The guy that made Memory coin (which is full of scammy antics) Freetrade and Larimer are not the same person Spoeterman. https://pbs.twimg.com/profile_images/2306531900/sec5qf2agnxnlnxcjtjk_400x400.png LOL that pic always cracks me up. :D Anyway, if it's not Larimer as Spoetnik implied, then who is Freetrade? Title: Re: BitShares - why has it dropped like a rock Post by: r0ach on October 18, 2015, 06:23:44 AM Anyway, if it's not Larimer as Spoetnik implied, then who is Freetrade? Freetrade is this guy, who looks absolutely nothing like Larimer: https://bitcointalk.org/useravatars/avatar_42420.png Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 18, 2015, 06:36:31 AM Anyway, if it's not Larimer as Spoetnik implied, then who is Freetrade? Freetrade is this guy, who looks absolutely nothing like Larimer: https://bitcointalk.org/useravatars/avatar_42420.png Who is he? Title: Re: BitShares - why has it dropped like a rock Post by: DecentralizeEconomics on October 18, 2015, 06:58:16 AM Freetrade is this guy, who looks absolutely nothing like Larimer: https://bitcointalk.org/useravatars/avatar_42420.png http://s9.postimg.org/gjkrexjgv/Vladmir_Lenin.jpg Coincidence? Communists... all of them... communist conspirators. Title: Re: BitShares - why has it dropped like a rock Post by: tat123 on October 18, 2015, 07:03:44 AM DE, I don't care to quarrel with you like some stupid fanboy. My comments were in support of r0ach and how margin trading isn't practical in an immature market. So please don't paint me into one of your delusional boogeyman. I like to trade, and as a trader I am making an observation... playing Devils advocate.
Margin coins are being lent out for a few % interest so traders can leverage their shorts. Which ends up diminishing the coins value. What Long would do that? Does the guy lending his coins care? Nope. Does the guy shorting care? Nope. Then... who cares? Not me. Would I drop 20 BTC into NXT? Nope. Because in 3 months there is a high probability it will be worth less. Now I'm hoping for a pump just to break even, not to mention the potential gains I could of had with other coins. Margin trading exacerbates the problem to the non-margin coins as well. Why would I trade NXT with it's crappy volume when I can get action somewhere else? Less than 1m NXT could wipe out the books on Polo. No liquidity... no interest. I'll say it again... these markets are too immature to handle the swings. Naivety and hope are tools traders use against people, because they know they will hodl, just like the guy who refuses to accept his pocket ACES are just a pair. Free market? Wonder what the exchange bots think about that? Title: Re: BitShares - why has it dropped like a rock Post by: Este Nuno on October 18, 2015, 07:05:03 AM Anyway, if it's not Larimer as Spoetnik implied, then who is Freetrade? Freetrade is this guy, who looks absolutely nothing like Larimer: https://bitcointalk.org/useravatars/avatar_42420.png Who is he? DecentralizedEconomics All the pieces are finally coming together. Title: Re: BitShares - why has it dropped like a rock Post by: crypto jerk on October 18, 2015, 07:05:21 AM https://images.duckduckgo.com/iu/?u=http%3A%2F%2Fwww.henrymakow.com%2Fcrowley_aleister8_med.jpg&f=1
https://images.duckduckgo.com/iu/?u=http%3A%2F%2F2.bp.blogspot.com%2F-eycufcdWLrk%2FUDVYkU6MouI%2FAAAAAAAAAvo%2FD82WgopIPDg%2Fs1600%2FAliester%2BCrowley%2Bmost%2Bfamous%2BSatanist.jpg&f=1 Title: Re: BitShares - why has it dropped like a rock Post by: tat123 on October 18, 2015, 07:16:20 AM Anyway, if it's not Larimer as Spoetnik implied, then who is Freetrade? Freetrade is this guy, who looks absolutely nothing like Larimer: https://bitcointalk.org/useravatars/avatar_42420.png Who is he? I think it's the Memcoin DEV? Could be Lenin. Title: I found the communist !!1!11 Post by: Spoetnik on October 18, 2015, 10:18:02 AM this guy / coin is linked to Protoshares (PTS) The guy that made Memory coin (which is full of scammy antics) Freetrade and Larimer are not the same person Spoeterman. https://pbs.twimg.com/profile_images/2306531900/sec5qf2agnxnlnxcjtjk_400x400.png i never said he was but implied it.. frankly i don't give a damn who any of these guys are.. or how many of them use 100 accounts. you skipped over the part where he changed the topic title and brought that up in direct response to my posting questions. BEFORE that he was acting like it was his coin etc and there was no mention of this company. red flag ? you bet your damn ass LOL but let's skip over any stuff like that.. symantecs right ? let's getting trading right ? I love how you point out that a guy who has a bad track record is working with Bitshares guys and your only retort is ohh well that is not the same guy LOL Fail ahahha Tunnel vision on that $$ much ? Title: Re: BitShares - why has it dropped like a rock Post by: StanLarimer on October 19, 2015, 12:22:48 AM In traditional stock markets people used to invest based on price to earnings ratios and other metrics that indicated the underlying value of the company. With the advent of high speed trading, however, cash hops from asset to asset based on the expectation of what it will do in the next few days. Paradoxically, that means when a company delivers something insanely great, on schedule, such traders simply say "ok, so long and thanks for all the fish. I'll be back just before your next announcement."
And it is true that it is easy for whales to manipulate the market by throwing their weight around. Meanwhile, Cryptonomex is building multiple companies on top of multiple industrial grade blockchains. These companies are designed to earn a growing profit and share it with stakeholders. Who else does that? So, if you are in this for the short term you need to think like a speculator. If you are in it for the mid to long term, then invest in value and let the seeds grow. Claiming that efforts to develop sound profit making enterprises are somehow a scam just makes you look silly. I guess that's why most people here don't put their real names and faces on the line. That way they can throw unsubstantiated FUD around without damaging the (unlikely) honor or reputation of their family names. Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 19, 2015, 12:44:58 AM You should have hired a pumper and a marketer. That what penny stock companies do before a big announcement.
Title: Re: BitShares - why has it dropped like a rock Post by: StanLarimer on October 19, 2015, 12:47:12 AM You should have hired a pumper and a marketer. That what penny stock companies do before a big announcement. Indeed. Pretty good evidence that we didn't. No? :) Title: Re: BitShares - why has it dropped like a rock Post by: tokeweed on October 19, 2015, 01:22:12 AM You should have hired a pumper and a marketer. That what penny stock companies do before a big announcement. Indeed. Pretty good evidence that we didn't. No? :) There's nothing wrong with both imho. I never judge. It's business. Title: Re: BitShares - why has it dropped like a rock Post by: DecentralizeEconomics on October 19, 2015, 02:29:06 AM DE, I don't care to quarrel with you like some stupid fanboy. My comments were in support of r0ach and how margin trading isn't practical in an immature market. So please don't paint me into one of your delusional boogeyman. I like to trade, and as a trader I am making an observation... playing Devils advocate. Margin coins are being lent out for a few % interest so traders can leverage their shorts. Which ends up diminishing the coins value. What Long would do that? Does the guy lending his coins care? Nope. Does the guy shorting care? Nope. Then... who cares? Not me. Would I drop 20 BTC into NXT? Nope. Because in 3 months there is a high probability it will be worth less. Now I'm hoping for a pump just to break even, not to mention the potential gains I could of had with other coins. Margin trading exacerbates the problem to the non-margin coins as well. Why would I trade NXT with it's crappy volume when I can get action somewhere else? Less than 1m NXT could wipe out the books on Polo. No liquidity... no interest. I'll say it again... these markets are too immature to handle the swings. Naivety and hope are tools traders use against people, because they know they will hodl, just like the guy who refuses to accept his pocket ACES are just a pair. Free market? Wonder what the exchange bots think about that? Who cares if someone wipes out the books on any coin? It's called the free market. If someone wants to wipe out the buys on polo for NXT using margin, I say, "Do it!". Imo, restricting peoples' ability to profit off the short as well as the long simply puts them at a disadvantage. No market is "too immature" for the free market and free enterprise. You're asking for market regulation simply to protect your investments. Title: Re: BitShares - why has it dropped like a rock Post by: ifinta on October 31, 2015, 10:18:08 AM I sold all my Bitshares. Only 50 remaining.
It is a misery always - each new version. It is not a simple scam - it is more terrible. Bitshares 2.0 is a new blockchain. No connection between Bitshares 1.0 and Bitshares 2.0. Only the balance of accounts the "same" (If the import of private keys succeeded - it was a misery for me too.). But it is technically a simple solution for pruning. Bitshares: prunable full Blockchains - a new possible buzzword in Crypto-World :) Muse a new blockchain too (with the Bitshares team in the background). For all new purposes a new blockchain - wasting of resources... I think. Title: Re: BitShares - why has it dropped like a rock Post by: Spoetnik on October 31, 2015, 10:31:39 AM i have long said what goes on is fine as long as Dev's keep their track record on the table.
These guys change names and coins and push on.. then later it catches up to them. When all they had to do is be honest from the start. Think about it there is probably 8,000 coins i estimate so you think each one of these dev's that loiter around here just made 1 or 2 ? Do the math.. Somebody made all those coins but there is no one around taking credit for them all. And what is the simplest explanation ? Could it be the guys that hang around here (playing innocent) bumping their CURRENT project to page one ? Title: Re: BitShares - why has it dropped like a rock Post by: ifinta on October 31, 2015, 11:56:44 AM ... I think not an all dev. I speak about Bitshares team. Development is a need in Crypto-World. But Bitshares... It is not a correct strategy.Think about it there is probably 8,000 coins i estimate so you think each one of these dev's that loiter around here just made 1 or 2 ? ... Title: Re: BitShares - why has it dropped like a rock Post by: chryspano on October 31, 2015, 01:00:14 PM It could be really easy for the BitShares devs to remain anonymus and just create another simple copy paste worthless altcoin that could have a few hundred million dollars marketcap. But no, they chose the hard way, they are trying to really create something with value and not another worthless "altcoin" with an expiration date. When copy paste altcoins have a pernament place in the top 10 marketcap, and scamcoins make their apearance in the top 10 too for some time, then you know that something is really wrong with our "valuation" system! Lets see how many people in the future will make the same complains we heard by those that missed the Bitcoin train "I wasn't lucky enought to be around when the price was at $3 !" Well, you are around now, it's up to you to trust anonymus trolls like DE or do some real research about the project of some people that DON'T hide in anonymity.
Other than that, I want to say hello to the two groups of trolls in the forum, the first group, common altcoin trolls like DE that feel treatened by BitShares and the second group, bitcoin common trolls like Spoetnik that feel bitcoin is in danger by every altcoin out there and we need to "excomunicate" them all! In the name of the One and True God, Bitcoin! Well....Hello... Trolls! Title: Re: BitShares - why has it dropped like a rock Post by: Scamlarimer on October 31, 2015, 03:42:28 PM Woa there buddy. Bitshares 2.0 is just one small step before we get it right and merge brownie points to create bts3.0 Great comment though here's 10 applesauce points. I sold all my Bitshares. Only 50 remaining. It is a misery always - each new version. It is not a simple scam - it is more terrible. Bitshares 2.0 is a new blockchain. No connection between Bitshares 1.0 and Bitshares 2.0. Only the balance of accounts the "same" (If the import of private keys succeeded - it was a misery for me too.). But it is technically a simple solution for pruning. Bitshares: prunable full Blockchains - a new possible buzzword in Crypto-World :) Muse a new blockchain too (with the Bitshares team in the background). For all new purposes a new blockchain - wasting of resources... I think. Title: Re: BitShares - why has it dropped like a rock Post by: Scamlarimer on October 31, 2015, 03:44:32 PM Are you hitting on me?
Hay! 1 applesauce point for you! Other than that, I want to say hello to the two groups of trolls in the forum, the first group, common altcoin trolls like DE that feel treatened by BitShares and the second group, bitcoin common trolls like Spoetnik that feel bitcoin is in danger by every altcoin out there and we need to "excomunicate" them all! In the name of the One and True God, Bitcoin! Well....Hello... Trolls! Title: Re: BitShares - why has it dropped like a rock Post by: Spoetnik on October 31, 2015, 06:08:06 PM @chryspano
It's not about being partially honest.. I posted info that is verifiable here earlier (on this topic) implying freetrade is more involved with BTS than he lets on. and his links and info on PTS and Memorycoin lead to far more shady and deceptive nonsense. I would bet any money there is far more to what has gone on with Freetrade, that company and the rest of the Bitshares crew. I am convinced of this based on bits of info and misc incidents that have played out. Freetrade in my opinion made the most scammy deceitful coin in all of crypto history. His launching of PTS then later down the line trying to distance himself shows deceit. The trail is clear. BTS is nothing more than the current project of many in a long line.. and they do not want any of you knowing that (which is why all the deceit about history / track records) When Freetrade launched Protoshares i asked him outright about starting Memorycoin then abandoning (2x) His response was i never made Protoshares and he then posted (for the first time a company name) He replied back to me a comment and at the same time edited the topic ANN title with [made by Invictus Innopvations] Kind of funny he never mentioned that company name before.. page after page of him acting like he made the coin.. until i cornered him. How believable is that ? EDIT: I had asked freetrade shortly after the PTS launch, shouldn't people be concerned that you abandoned some sketchy coins before ? THAT was when he said i didn't make PTS and then accused me of being a troll and mouthed me off etc.. And come on.. gimme a fucking break ! IF that kind of track record with a coin dev does not set off alarm bells then what the fuck does ? Title: Re: BitShares - why has it dropped like a rock Post by: Zer0Sum on October 31, 2015, 07:21:43 PM Pffft. We've seen every doomsday scenario all over the place for years and years. But you know what, Wallstreet and the banksters always have an angle and always make money out of whatever doomsday scenario there is. They could even make the US govt. to bail them out. As for this 'space'. It will succeed if it's good and ready. If not, then it's a bit way ahead of its time. I believe in crypto. Not just for finance, but for everything. Privacy, decentralized voting, etc.. It's the future. But my point is don't blame your losses on others and or external factors when it was you who made a decision to take on a risk without assesing the situation well. As far as doomsday is concerned... Since 2012, the Federal Reserve have been engaged in a pre-emptive war against financial risk, and other central banks are forced to follow suit in a self-reinforcing cycle of devaluation and a mad game of Prisoner’s Dilemma. Nice post. The race to Zero Interest by global central banks is analogous to the nuclear arms race in 50s, 60s, 70s... Flooding the system with free money does not mitigate risk... it only shifts tail risk from the present to the future. This a very recent brilliant, must read paper: "Volatility and the Allegory of the Prisoner’s Dilemma: False Peace, Moral Hazard, and Shadow Convexity". http://hvst.co/1Luj8yW It also shows the massive gap in sophistication between top Wall Street players... and crypto space pretenders. Title: Re: BitShares - why has it dropped like a rock Post by: brekyrself on October 31, 2015, 07:57:08 PM @chryspano It's not about being partially honest.. I posted info that is verifiable here earlier (on this topic) implying freetrade is more involved with BTS than he lets on. and his links and info on PTS and Memorycoin lead to far more shady and deceptive nonsense. I would bet any money there is far more to what has gone on with Freetrade, that company and the rest of the Bitshares crew. I am convinced of this based on bits of info and misc incidents that have played out. Freetrade in my opinion made the most scammy deceitful coin in all of crypto history. His launching of PTS then later down the line trying to distance himself shows deceit. The trail is clear. BTS is nothing more than the current project of many in a long line.. and they do not want any of you knowing that (which is why all the deceit about history / track records) When Freetrade launched Protoshares i asked him outright about starting Memorycoin then abandoning (2x) His response was i never made Protoshares and he then posted (for the first time a company name) He replied back to me a comment and at the same time edited the topic ANN title with [made by Invictus Innopvations] Kind of funny he never mentioned that company name before.. page after page of him acting like he made the coin.. until i cornered him. How believable is that ? EDIT: I had asked freetrade shortly after the PTS launch, shouldn't people be concerned that you abandoned some sketchy coins before ? THAT was when he said i didn't make PTS and then accused me of being a troll and mouthed me off etc.. And come on.. gimme a fucking break ! IF that kind of track record with a coin dev does not set off alarm bells then what the fuck does ? From all my reading, freetrade only helped code the gui or client for pts, nothing more. PTS was a project by bytemaster where some others help code his idea. Since freetrade seems long gone and the project is still evolving with some talented devs, why do we even care about pts or freetrade anymore? PTS + Angel shares = Bitshares. Bitshares 1.0 chain (now dead by design) has been replaced with the 2.0 version greatly improving upon 1.0 that was running for what 18 months? You seem to imply they are leading people on some extravagant scam, have you watched their github and coding for the past few years? Their code is innovating at a tremendous rate. Title: Re: BitShares - why has it dropped like a rock Post by: StanLarimer on October 31, 2015, 08:05:53 PM Pretty close. Two years ago freetrade answered Dan "Bytemaster" Larimer's $5K bounty to create a memory-hard version of Bitcoin called ProtoShares and quickly changed to BitShares PTS due to copyright issues.
He built the coin and launched it on "remember, remember, the fifth of November" 2013. Guy Fawkes Day. The sole purpose of this coin was to get a "fair" initial distribution for the real BTS - although distributing to the technically gifted 1% and well equipped mining community is no longer deemed to be "fair" by the BitShares community. That's just old Bitcoin doctrine. "Fair" is deemed to be making them available to everyone for sale at market prices and using the funds to pay for sustained development under control of the existing owners of a coin. Anyway, PTS served as a trading space-holder for BitShares until all the internal exchange logic could be completed. It was to be good for 10% of the initial BitShares and holders wound up getting 50% of the initial supply (5 times as much) plus a lot more of other things like MUSE (Notes) and DAC Play PLS etc. After collecting his bounty, FreeTrade went on to release his own variant of PTS called MemoryCoin. After that I lost track, but all this history is still there in the archives of BitSharesTalk.org for those forensically inclined. :) |
