Bitcoin Forum

Let's be honest here Litecoin is officially dead and Bitcoin is like AOL, Napster, and Myspace.
They both have their days numbered and from the looks of it BitsharesX is rapidly catching up to Litecoin.

The reality is that Bitcoin is only number one because of the first mover advantage. This is why everyone know what Bitcoin is
but that doesn't mean that it is a superior technology when compared to others like BitsharesX, NXT, and Ethereum.

So what are you guys doing? Are you going to continue holding Litecoins and Bitcoins or are you going
with the newer more innovative technologies?

lol joke thread

Lol 99% volume from China, no thanks.   Inb4 Chinese Government Ban.  Inb4 Chinese dump.  Inb4 butt hurt.

http://coinmarketcap.com/currencies/bitshares-x/#markets

why because it is the truth?

The reality is just that. What innovative features does Litecoin have that merit the number two spots?

"oh Litecoin is Silver to Bitcoin's gold"

All it has is a marketing gimmick in its favor. Out of the next 8 alt coins after Litecoin
on coinmarketcap virtually all of them have better features, technology, and active development than Litecoin.

LOL dead compared to what? There's no other alt coin that can touch it right now ;D

Litecoin -- not holding
Innovation i.e. BTSX -- bullish

Wait wasn't it Chinese people that helped propel Bitcoin to its glory days of $1,000+ a coin?

Also, a ban means nothing just like a banning thepiratebay means nothing.

Litecoin serves as a feasible additional layer of obfuscation with a market volume that can support such a role. It's a perfect compliment to Bitcoin.

Expect an influx of clashing opinions in this thread. :D

e.g. Litecoin-fanatics, Bitcoin-fanatics, AltcoinXYZ-lunatics, "Fact"-trolls etc. Discussing topics like these on Bitcointalk is tiring at best.

You know that Bitcoin has issues when a core developer can't pay his rent.
Bitcoin has been on a slow and steady decline since the beginning of the year.

Quit trolling and provide some actual facts besides your clearly biased opinions.  BTer, BTC38, and just recently added Poloniex are the only exchanges with BTSX at the moment.  Also, think about the BitUSD market feature that was just added today.  If you feel the price of BTSX will crash you can simply trade for BitUSD WITHIN the client itself which is pegged to the dollar.  No more will you have to trust your shares on an exchange, this is a significant step forward decentralized trading.

Rather its BTSX, Nxt, or the next 2.0 tech at least the boundaries are being pushed.  Succeed or fail it's nice to see people stand up and push the btc ideology.

Yes, that's what I'm expecting thats why I chose the title I chose for the thread.

Most sound minds would agree with your conclusion and it is why no alternate will "kill"" Litecoin.  There may be an alternate which could surpass LTC's capitalization but that is an entirely different thing.  LTC will always have value being a compliment to BTC.  A third compliment could be BitcoinDark but that's a marketing challenge (I have no association with BitcoinDark or any stake in it).

Oh, you're from that camp. The one which define success by the amount of fiat you can exchange a coin for at any given moment ::)

Put on your helmets!



Litecoin 24 hour volume: $3,808,460  <  BitsharesX 24 volume: $3,905,960

 ;D

so true

Sorry to hear that BitshareX is officially dead too then :-[

That's unintentional nitpick, no?  BitSharesX is presumed to be at a peak of a volume pump while LTC has been stagnate for months.  LTC months ago had certain days where their volume exceeded Bitcoin.

If you look at coinmarketcap you will see that BitsharesX has greater 24h volume than Litecoin and it is currently on the rise. Will there be a correction? Maybe, but when you compare BitsharesX to Litecoin it is like comparing a space shuttle to the horse and buggy.

When you look at it objectively you will see that BitsharesX has a lot going for it when compared to everything else.
The people behind the development of BitsharesX are arguably the most open and transparent of any project to date. (Ethereum is also pretty open)

The real world identities of those behind BitsharesX is known to anyone that is willing to look this is clearly not a pump and dump or a scam coin.

As for the recent rise that is because of an innovative feature that was just turned on today. First of its kind really. Market driven BitAssets.

The coin gets a sudden pump from China and now it's the best that there is?
Well that makes sense.
These threads are pointless actually. I'm just gonna sit here and

http://s2.quickmeme.com/img/58/587d1cb5298b91596d05980c5ccb35cdd3b40501cd0f615c061da9ab76cc9ea5.jpg
when China bans it.

Yeah the Quark used to be #3-#4 and Mastercoin was like #3 at one point and said the samething as you and what happened to them?

It's great that BitsharesX is suddenly popular with a few private funds in China but that isn't sustainable when they pull out and/or the PRC bans it.

The thing that people don't understand is that BitsharesX is a platform and you don't need to exit the system in order to make money.
BitsharesX is a decentralized exchange but unlike the other "Bitcoin 2.0" Bitshares is the only one that is innovating and developing at rapid pace. You can compare their github repos to NXT, Mastercoin, and even Ethereum and see that there is no comparison.

Again, banning BitsharesX in China or Bitcoin for that matter means nothing. There is really nothing they can do to stop it. Remember how successful governments and corporations have been in shutting down peer to peer file sharing?

Your claiming private funds on in China for the up tick?  Again, read a few posts back, can you back up something against BTSX besides your bias?

If there is something technically wrong lets discuss it.

Hao dare you sir!?  BitsharesX is the new DigitalCoin.  It's even better than NXT with Blockchain 2.0 Gravy on top.

BitsharesX will allow us all to be our own commodities broker, start virtual cyber corporations based on smart property, paint the sky blue, cure cancer, bring joy to orphans, spread peace to the Middle East, and give you a foot massage.  Plus BitsharesX makes a damn fine cup of coffee.

Why do one thing better than anyone else, when you can be everything to everyone?

And don't forget Proof of Stake is better than evil, climate-changing Proof of Work.  Because ManBearPig.

In conclusion, BitsharesX is the most advanced technology since IntelliHash.

I remember Quark but I really didn't see anything too interesting or innovative about and so I never invested or looked into it much.
In terms of Mastercoin I don't think their developers had the long term vision and commitment that Daniel Larimer has with Bitshares.

Also, as mentioned before Litecoin has virtually non existent development and no innovative or useful feature when compared to Bitcoin.

BitsharesX is very well funded and has the ability to pay developers and not rely on donations like Bitcoin.

Quark and Mega and all that was in the middle of the Bitcoin hype bubble cycle..

Now it's deadly quiet and BitShares is rocketing just because of its features and potential. There has been very little marketing, very little evangelizing, and as far as the media goes, they don't seem to have picked up on the whole crypto 2.0 idea yet.

Ethereum, BitShares, NXT, eMunie, etc. are in a race to make compelling 2.0 crypto products to the whole world, and soon people will start to notice and the media will use it to spice up the Bitcoin news-cycle narrative.

We all know it's going to happen, it's just a question of when.

And when it happens it will not matter how high NXT or BitShares or Ethereum is, they will all go 10x from where they are.

Yet it seems like many members do not take it seriously or hate it. There must be something to this.
Why exactly would it be the best thing out there.
Funded developers? (only because you pointed this out in a fashion where Bitcoin development is bad(ish)) All my eyes see is centralized development, or are they fooling me?
Don't get me wrong, just trying to inform myself. I hate the fact that all of the volume is from China!

those of you comparing Quark, Megacoin and Randomcoin123 with BitShares... ;D

Where are the brains? When will you stop vigorously fighting against actual innovation, guys and gals?

Brainless Bitcoin-clone moneymaking until the end of time, is that the new agenda here?


Lauda, do you know how Bitcoin grew to its value of several hundred dollars?

"Centralised development" are empty words in this case as BitShares has Github repositories for anyone to contribute to, just like Bitcoin... or your favourite Darkcoin. The reason it is booming is its innovation PLUS massive influx of investment. Please feel free to research BitUSD, features like these are moving "crypto" forward beyond this insignificant and messed field of altcoin cloning.

Look ahead!

I think that part of the reason it isn't taken seriously may have to do with the amount of information needed to learn about it.
It isn't just a currency, its a platform, decentralized exchange, and a digital company that exists only in software and pays dividends.
In contrast, when you think of Bitcoin or Litecoin its basically just money that you send from A to B.

https://bitsharestalk.org/ this is the forum for BitsharesX if interested to learn more

So far all predictions on this topic where placed ON Litecoin and AGAINST Bitshares. https://www.fairlay.com/event/category/bitcoin/bitshares-x/ (https://www.fairlay.com/event/category/bitcoin/bitshares-x/) Even though the proposal for this event came from the Bitshare community https://bitsharestalk.org/index.php?topic=7362.0 (https://bitsharestalk.org/index.php?topic=7362.0)

Chinese volume was never 99% of Bitcoin.  IIRC back then it was never a majority.  Even today it's only at 40%.

I'm convinced without Chinese volume Bitcoin would still be $100s.  There were other factors in the boom.  Like the Silkroad fiasco removed over 1million Bitcoins from the volume and that resulted in a huge deflationary effect.  There were also allegations that MtGox bots were pumping.  Bitcoin was partially legitimized through the Winklevoss twins.  Services like BitPay were emerging.  There's were technically a lot of little things adding up.

What currency did you use to buy your BTSX (or possibly PTS if you got them that way)?  Bitcoin isn't going anywhere for all the time it's still the primary gateway for purchasing alts.  Also, BTSX has somewhat different goals to BTC and LTC.  Even in their video they describe themselves as more of a business oriented coin, rather than just a spending money coin.  Then there's things like merchant adoption and even general public awareness.  Maybe in the distant future it might change, but at the moment most people have generally only heard of Bitcoin, assuming they've heard of any cryptocurrencies at all.  

Don't get me wrong, BTSX is great and all, but I don't see it replacing coins that were designed with different uses in mind.  Clearly it's on the up and I'm glad I bought some when it was dirt cheap, heh.

TaunSew, BitShares volume is not 99% Chinese either. We're talking about the fact that the Chinese are one of the major and defining investors in cryptocurrencies, be it Bitcoin or BitShares.



Agree

yep those are the right ones, u r the noob trying to pump ur little investment LOL

its all the same when will ppl realize even bitcoin is a ponzi scheme to enrich a few?  

god u ppl are stupid man..... GOSH.... UUUUhhhh

chinese and russianese volume is 100% cuz america+europe has only debt and basically no money LMAO

~CfA~

Well with the BitAssets and in particular BitUSD you have tokens within the Bitshares platform that can be used for spending like you can with Bitcoin. In fact it is even better as BitUSD is market pegged to the dollar. As a result, you get the benefits of Bitcoin with the stability of the USA dollar.

This innovation stuff is all pump rhetoric.  Adding in bells and whistles doesn't accomplish much in these anonymity and asset arm races as you'll be outdone.  Some months down the road NXT may outdo Bitshares' asset system or some upcoming alternate will do it.  

Innovation is not a proprietary thing in cryptos unless people recognize patents and they have the means to enforce them, which they never will as long as developers can remain anonymous or reside in countries untouched by intellectual law.

like dark coin the scam shit coin eehh??  :D :D :D ;D ;D ;D ;D

i see a connection here lauda bitch ;D

~CfA~

Right you are, IF you're talking about the "coins" you're surrounded with here.

Well I took some time looking at it and I've gotten nowhere.
Don't you have a website or some guide to read everything from the start?
DAC Delegates?
Could you help me out by pointing me to the right page, I'm running in circles in the forum.

Lauda, perhaps this helps you in the right direction: https://bitcointalk.org/index.php?topic=756454.msg8528542#msg8528542

(http://bitshares.org/faq (http://bitshares.org/faq)  &  https://wiki.bitshares.org (https://wiki.bitshares.org))

+1 listen to this dude

ITS ALL THE SAME

BITCOIN LITECOIN BANANACOIN DARKCOIN CANADACOIN FUCKOFFCOIN

its a ponzi feast u greedy bitches


~CfA~

Try this http://wiki.bitshares.org

I was referring to BitsharesX.  It grew as much as $50 million dollar before bitassets was even unlocked.  It's clearly a speculator pump from China and there hasn't even been enough time to make ascertain that it works or will get any attention / use by the mass crypto.

BitSharesX thinks it's the first coin that ever boomed before some feature was unlocked and thinks it'll be immune to the coming dumps which predictably come afterwards.

Do you even understand what a ponzi scheme is? Based on your comment you clearly don't.
Now, will there be a small number of people that control a large percentage of the money supply. Yes, there is and always will be. However,
it is not a result of a ponzi scheme but rather those who take massive calculated risks in the beginning gain massive rewards in the end. It doesn't matter whether you are talking about dollars, Bitcoins, or Bitshares.

listen justin bieber if u try to market ur bitshares ponzi to me u can try until u r old

its just another shitcoin period to make fiat money period.  same like dark coin and vitalik coin

~CfA~

I've done a quick overview and did some reading (can't do much right now it's pretty late).
I must say that this would be really complicated to introduce to the average person. What is the plan for this?
I mean I've been going in circles what is what, how do I get this from that on the wiki and FAQ page.

Also ended up with this:
on the FAQ page.  :P

Does this help?


or this https://i.imgur.com/pAtkOu9.jpg ;D

and I completely agree with you, not knowing what it's all about & being able to easily know what it's all about is definitely a crucial factor.

No, I'm not going to try to convince you. You're not worth my time and you don't seem to be a very honest individual either due to your
terrible trust rating.

wow that is brazen.  this fake trust rating is COZ OF bitshares SHILL like ur friend tagged me with a lie

this is ur only argument for ur ponzi  ?

WEAK.

~CfA~

Yes, that why I was saying that that is probably why people aren't interested in it or might even be hostile towards it as
there is a lot of information to read before it starts to make sense.

HEY I BOUGHT MY FIRST PROTOSHARES (NOW BITSHARES-PTS) FROM YOU!!!! HAHA

Perhaps, you should have kept them haha
Those Protoshares you exchanged with me for Bitcoin now give me a stake in BitsharesX, Lottoshares, Bitshares DNS an Bitshares Voice

and my stake of BitsharesX if worth a substantial amount. :)

:D :D I just remembered this, wow. It was quite some time ago. It's funny how we ended up meeting again in another thread related to the same coin/s(assets or whatever it is now) after so much time.
So basically if i buy PTS now I can get a stake in all of that, or what?  :)

I believe it's the best time to sell the bitsharex thing

The reason Bitcoin isn't a ponzi is simply because it doesn't meet the criteria of a ponzi.  Go ahead and argue up and down about other concerns, there are a lot to choose from.   Being a ponzi scheme, however, isn't one of them.

why r u here?  to make money
how do u make money?   sell ur coins to others with a profit waiting for the next to join in ur profit line

cocaine is a hell of a drug dude ...

~CfA~

I think that the $1300 high was down to a Mr Karpeles, an American, living in Japan.

Why does it have to be a binary either/or? Can't BitsharesX provide a completely different functionality than Litecoin, and as crypto itself grows, both Litecoin and BitsharesX can grow with it. The industry is too small to keep trying to "kill" each other!

technology is a killer cuz it moves to better.   scam coins or shit coins have no future

~CfA~

No, it is actually too late to do that now. The deadline for all those have already past and at the moment I don't know if they are going to have any more snapshots.

The way it worked was you'd get X amount of BitsharesX or whatever for every one PTS you had in your wallet before a given deadline.

So if you had say 1 pts in your wallet before the snapshot for BitsharesX which was on February 28th 2014 then you also got X amount of BitsharesX just for holding your pts. Unfortunately, the only way to get them now is to buy them from exchanges.

Why are *you* here?

Okay, I'm here to make money, but every morning when I go to my job I ask myself the same question, "Why am I here?"  And the answer is the same, "To make money."  But, working for monetary compensation isn't a ponzi.

Do you think gold is a ponzi?  You're talking about an asset that's sold in an auction market.  Bitcoin isn't unique in this regard, and auction markets aren't ponzis.

By the way, your accusatory logic is wrong.  If I sell my coins to others and make a profit, then I'm holding fiat and at that point don't care what others do with their BTC.

You sound like a trader and speculator. My friend BitsharesX is the platform for you.

Right, so selling houses must be a ponzi scheme too if you sell houses at a profit. Selling burgers at a profit is a ponzi scheme. Again, you don't understand what a ponzi scheme is.

A ponzi scheme is surrounded in secrecy, lies, and exaggerated promises with no rationale reason for it.

if u have a proper job then u create real value even if u just sell bread to people

holding and selling bitcoins doesnt create value.  it creates money in ur pocket through artificial means by a hyped currency that 0.00000000000^128 of the worlds population use and centralized datacenters mine to make a buck on the rise and fall of this thing for dem own selfish profits AND they know its just a tulipmania

its not all that great as ppl think it is.  some weird folks even say world finance should depend on the block chain.  now this is not my area of experitse anymore cuz that requires more serious mental help to have such utter shite visions


best description of cryptocoin ive heard in a while  !


~CfA~

Was living under a rock, didn't notice the recent rally.  discover I had accumulated decent amount of PTS from a while back  ;D
I think 97 million market cap is a good time to sell.

https://www.youtube.com/watch?v=0HtyF0jux2Q
https://www.youtube.com/watch?v=6-GrQsR_1Mo

logging onto btc38 on the champagne campaign tonight . cash out time


nice one for the heads up OP

The network as a whole creates value though. The value is sending money securely over vast distances at quick speeds like email.

+1
~CfA~

I don't think Bitshares will be taking out Bitcoin anytime soon, but Litecoin damn sure better look.

+1

+1

r u suggesting vitalik buterin and justin bieber r a human crypto coin right now ?

~CfA~

Smarter than he lets on ....

Come-from-above, just a couple days ago you were singing BitshareX's praises.

Did you just sell your stake or something? I hope you miss out on the rocket ship ride. :P

I'll be honest, I kind of have no idea what you said, and I'm not sure that you do either.  Still, I'll try to break down this mess in front of me to see if I can make a relevant response,

Bitcoin has value and bitcoins have value, i.e. both the network and the currency units are valuable. The network is valuable because it provides a platform for sending currency units in a way that many users find preferable to traditional payment systems such as credit cards, checks, and wire transfers.  The value of Bitcoin as a network or protocol is debatable, but certainly you must acknowledge that many others believe it is valuable or else you wouldn't be seeing investors pumping tens of millions of dollars into infrastructure and Bitcoin start-up businesses.  And of course bitcoins, the currency units, obviously have value as reflected by the day's market trading and information pulled from the order books.

So, you're right, buying and selling bitcoins doesn't create value.  But, buying bitcoins is akin to investing in the Bitcoin network platform.  As that platform grows, it and the currency units become more valuable, and so I am rewarded with profit for investing into a platform that others find valuable.

Paper money is generated with a printing press, so I'm not really sure where you're going with the whole "it creates money in ur pocket through artificial means by a hyped currency" tangent.

Yes, a small % of the population uses BTC, but not only is your statistic unbelievably off-base, but the number of people that use BTC says nothing about whether it's a ponzi scheme.

How do large mining operations in any way suggest bitcoin is a ponzi scheme? Hint: they don't.

I actually agree that Bitcoin is technically inferior to some other coins.  That doesn't really bother me right now , though.  Bitcoin is 'good enough' so to speak, and I find that it's very useful and that I prefer it for many types of transactions.  

it's over 9000 !!

You should, I encourage everyone that wants to dump BTSX to dump right now, to stabilize the price. I hold a lot of BTSX, and I want to hold for a very long time/permanently (since there's no reason to sell, I could just buy BitUSD if I wanted to sell), the current price action is pretty scary for a long term holder.

This is getting nuts. It's now at 11000!!

I hate when my investments climb this fast. It makes me think a dump will soon follow. I guess it's not so bad since I do sell a bit on the way up to lock in a profit.

I would like to see this coin get on exchanges that cater more to Americans. Then let the floodgates open.

Past 105 million...

08-26 09:39:09 Sell 0.00012490 4015.23720000

It could overtake LTC before the end of the week.

It's not a joke. It's also not an accident that Bitshares has over $100 million dollar market cap.
People who know how Bitshares works and what it is will never need Bitcoin again. BitUSD is better as a currency than Bitcoin could ever be. Volatility is dramatically minimized, no reason to cash out into USD anymore so there is no reason to dump, and it pays interest.

Bitshares is also the perfect decentralized exchange. Sure there will still be centralized exchanges but now the only thing we will need is the ability to turn our BitAssets into legal securities. Bitshares will let us trade NASDAQ, Forex, etc on the blockchain in a way which just isn't possible with the current codebase of Bitcoin.

Bitshares is going to force Bitcoin to innovate to preserve it's spot. Innovate or die is the same rule which Bitcoin applies to traditional fiat currency. Innovate or die is being applied to Bitcoin as well because Bitcoin must live by the same rules that all cryptocurrencies must live by if they are to stay on top.

I hope Bitcoin core developers now start innovating otherwise Bitshares will leave them behind simply because we will not need it's utility anymore. BitBTC is basically Bitcoin so Bitshares has Bitcoin built into it.

Were you saying that when Chinese volume pushed Bitcoin to $1000?

Also Bitshares is dump resistant. When you dump in Bitshares it's called dumping into BitUSD. BitUSD will actually pay interest to encourage people to dump into it rather than fiat. That means it's very unlikely there will be much dumping once people figure out how Bitshares is supposed to be used.

Early dumping might take place if people don't believe in the technology or if they don't understand how to use it. If this happens then there will be plenty of demand to buy those shares up (trust me on this). There are plans to create that demand which you will see in the coming weeks.

Agree 100%

Tell me whether or not you would hold actual Bitcoins if you could hold BitBTC which pays you 5% interest to hold it?
At that point it would be profitable to sell all your Bitcoins for BitBTC.

Do I expect Bitcoin loyalists to do the rational thing? No I don't. Do I expect people who don't understand Bitshares to understand why BitBTC is better than regular BTC? No I do not. I also don't expect most people to understand why BitUSD is better than USD.

But it is a fact that certain technologies are better. Bitshares is better than Bitcoin and you can look at the source code to see why if you're inclined.

Also Bitshares is still under priced. It's going to surpass Litecoin and be over 10 cents in a matter of hours to days. From there eventually there will be the launch of BitLTC and BitBTC with interest. Finally there is a project I'm promoting and backing called Minebiteshares.

Bitshares will be mineable and that will shock the mining community. Be prepared for surprises if you're a long term holder.

Key point in bold.  One of the main reasons you can still get in now.  I've been following BTSX development for months and only NOW do i see how it can be used and am going all in (with a little BitUSD for safety).

I encourage everybody to dump massively now. After all a lot of my friend are not fully invested yet...Good to see you all here guys.

There was a contest to predict the day btsx would surpass litecoin in market cap.    The prediction i made was this sunday however it looks like it is poised to blow past litecoin a lot sooner than that!   

Mine was about 2h ago!  :)

hey tonyk!
ripple got desperate and they just released another 20 billion XRP to leap frog to #3.
magically the price of XRP didnt go down

why is bitshares PTS so much lower than btsx? I thought PTS was the source of all this?

James

Price of PTS will be higher before next snapshot.

but why is PTS 5% of btsx? Is there some direct financial linkage between them?
I am interested in the analysis of the proper ratio between the two

BTC and LTC cannot die for at least next few years and will stay on top

Not one I can think off, at this point in time.

This is exactly what I was looking for. I, for one, think the price of BTC will be going down. I mean just look at the downward trend since the beginning of June. Yes, I believe the price of BTC will eventually recover but not until it suffers a significant downturn.

Enter BitUSD. Now I don't have to cash out my BTC into my checking account. Instead I can invest in BitUSD!

too bad, I would have bought 1% of it if there was

When did Ripple retain a $100+ million capitalization?  I thought it was hovering around 40 for awhile.   Did they perform some stimulus / bail out of their own?   ???

Yeah kinda, https://bitcointalk.org/index.php?topic=757131.msg8534946#msg8534946

So im not knocking this "coin" (or whatever it is called. Assets maybe? I havent researched it yet), but im really curious.


Available Supply   1,999,992,536


Are all these coins in circulation right now? Nearly 2 billion are on the open market...right now in this instance in time?

I'm having trouble registering my account (and thus being able to buy any BTSX). Please may someone send 1 to: BTSX5rbbxgCW4RvuGhM6H6KZAT483kjRLtbvHV8D4T4pway5bSxa2Y

Thank you in advance

Post it here: https://bitsharestalk.org/index.php?topic=6439

Actually, I just sent you some....

BS^x is dead.  Preston just killed it in that article.   :'(

BitsharesX is only taking Litecoin down.

I do not know, I think this article helped their current market cap. It is posted 10 days ago  ;)

Yeah with all due respect.   Watching a currency rocket up is much easier than lasting a few years in relevance (litecoin).  It might die ... but I have no doubt Bitshares X will be history lonnng before hitting the two year mark

Absolutely. Everybody is entitled to his/her opinion!

I do not know if I will remember you your prediction 2 years from now, but I bet you will do.

Pizza for BTC anyone?

Wow you are reaching for excuses to support your own conclusions lol

A developer's means to make a living is not a indicator of anything other than his ability to make financial decisions.

This is how pathetic the arguments against BTC and LTC are now days...brainless.  ;D

funny....I won't talk too much,let time tell us who is right!

Ohhh come on dumpers... my wife needs to buy $2000 at about   0.000071 BTC/BTSX

What the hell is that? Have you no BTSX to prove your point, that Bitshares is a pump up scheme...

You truly disappoint me.

Now, I have to give her percentage of my own stack.  :(

Please kill Litecoin.It's time to see Litecoin to die!

Don't be so loud, you might just get your desired dumping and then some.

Don't drag your wife and her money into this, she'll blame you in the end :)

It is working.. they are selling... shhhh
Just a push more....

Posted at source 10 days ago, posted where I would see it today.  8P

I've seen this movie at least three times before, but it was starring NXT/XCP/ETH, which are previous other hype-and-hope scheme that flagrantly violate the KISS principle.

They too suffered a rapid rise in market cap because of a ridiculous insta-mine emission curve (IE: ICO/IPO), then fell out of favor.

A coin needs to do one thing and do it perfectly.  When a coin tries to replace the SEC, COMEX, Fed, and NYSE all at once it is doomed to fail.

https://i.imgur.com/3lXWCId.jpg

I have an idea which developer you are talking about.  One of them admitted on twitter (or was it an interview?) that he had a lot less BTC than everybody thought he had.

Every week there is a new pump and dump coins. Yet, BTC and LTC are the only ones here to stay.

It's forgotten but NXT hit a peak of $110 million.  


I'm watching Coinmarketcap to see if BitsharesX can go over this mark or not.  The nearest I saw it go was $107 million (I saw it hours ago) and then it dipped down to current $89 million.  It's around 2PM in China, so maybe this is indication that the Chinese funds have been dumping since morning?

looks like a dump is occurring now on bter. went from .0001 down to around .00008 in an hour or so.

I'll pull this comment out amongst the carnage since it seems to be one of the more sensible things that have been said so far.  It's difficult to say whether Litecoin will actually grow beyond its slight stagnation at the moment or not, but I guess we'll wait and see.  Most people tend to hold the view that once crypto is fully mainstream, there will be all sorts of currencies for all sorts of situations and I agree with that.  If a coin can find a niche to occupy, it won't die out.  I'm just not wholly convinced that Litecoin has found its niche yet.

If BitsharesX takes out bitcoin , we can all apologies to the bankers about implementing centralized currencies all over the world.

Still unsure if BitsharesX is just a flash in the pan. Quick rises can mean quick falls.

The tech looks solid, but the current pump looks like Chinese P&D. I would stay away from it at the moment, or if you hold it then sell it now.
Long term it might do very well, who knows.

its a fecking scam like new economy movement NEM satan circle and any other 2.0 ponzi crypto deceptor scheme junk

~CfA~

Remember Dark ... 

*I wouldn't trust someone with a terrible trust rating.  ^^^^

By your definition everything is scam. Starting a new company, raising funds, and attracting users to your service is a scam meant to enrich the few. I'd like for you to define what a ponzi is. I can assure you that BitsharesX is not a ponzi.

Maybe

but if he can't take care of his stuff do you think he'll be able to take care of Bitcoin?


I'd like to hear your thoughts as to why BTC or LTC will reign supreme?
Remember, that it is possible for market leaders to be overtaken by something new.


For instance Kodak was photography leader for decades and in 2012 went bankrupt. At the same time Instagram was purchased for $1 Billion by facebook.

Remember Myspace?
Napster?
AOL?
Yahoo?>

Obvious holders here, are obvious.
How can you even compare those? All of the listed are Companies (services/products) (!), Bitcoin is not a company.
If they made some bad decisions in the past and lost their market share, went bankrupt then blame the people running it.
Now tell me who's running Bitcoin?
Stop spreading nonsense. This is why I hate (most) altcoins.

You CAN describe Bitcoin as a company though. (DAC)

The point I am trying to make is that if innovation or adoption of innovation doesn't happen you get displaced by a newer entity that does innovate.

For instance in 1976 Kodak invented the digital camera but chose not to go that route and pursue digital camera and in 2012 as it went bankrupt Instagram was purchased for 1 billion dollars. Now, Instagram only exits BECAUSE of the digital camera. Oh the irony.


Innovation needs to happen so that a network remains relatively distributed. BitsharesX runs on Delegated Proof of Stake which is arguable more distributed than Bitcoin's proof of work. We've seen ghash control over 50% of the network, and the amount of people that control the entire network is in the hands of a couple of pool operators.

Conclusion: It will take BitsharesX 36 years to overtake Bitcoin. Sure I have no problem with that.
Ghash can have 99% if they want to, as long as they aren't abusing it.
This is not a problem. Why are you now FUD-ing Bitcoin?

Thats what people said before the Dotcom bubble; you can´t create value out of thin air and currently the most IT startups are totally overvalued, your instagram example is a good one. Beats got bought for what, 2 billion from apple? Another example, you could prolly buy Sennheiser or AKG for that - companies who have real technology in the audio field.

No, this industry moves very quickly so it might only take only few months up to 5 years tops.

True, but then Bitcoin shouldn't be called decentralized because its anything but decentralized.
I'm not here to spread FUD about Bitcoin merely to state the facts. Again, Bitcoin reigns supreme for now not because it is
the best technology that exists but simply because Bitcoin had a network effect before the inception of everything else.

Please read up and understand the Byzantine Generals problem before you even try to compare Bitcoins decentralisation to a centralized system like DPOS.

+1

+1

Wasn't this just 2 months ago but only the "DarkCoin" movie was playing as the new replacement for LTC?

lol and here we are and where is DRK...lol

 ::)

Exactly, someone gets it. There will also be a BitBTC for when Bitcoin goes through it's customary bubbles. All from within the Bitshares X client so you don't need to cash out.

People for some reason think it's just an ordinary coin or something. It is not a coin and there is nothing else like it. It can simulate the buying power of the USD, of Bitcoin, of Litecoin, of any stock or commodity. That means we can trade anything on the platform and if we have to leave the best way to do it might be through Stellar or Ripple Gatways so our digital assets can turn into an IOU which then can become legal securities.

People who are exiting out now for fiat or Bitcoin are making the sort of mistake that people made selling Bitcoins for under $5.

Bitshares privacy is secured by TITAN. Darkcoin isn't a threat.

People don't seem to understand yet the capabilities of Bitshares. It's an ecosystem that you never really need to leave except to pay your bills. It's a decentralized bank and value exchange system, so it can do currency better than Bitcoin (BitUSD) while also doing stock better than Counterparty/Bitcoin.

Ethereum might be competitive but it will not be released for months, and then it will take months to catch up.

Gotta admit ... it didn't do litecoin any favors in the meantime tho.  Each new coin pump hammers it a little more.

Technological inferior alt coins like litecoin are trying to impress us, you stand no chance against bitshares. Please educate your selves about bitshares, you dont even know the "enemy" you are facing.

https://www.youtube.com/watch?v=4DzcOCyHDqc

Stop lying dude, TITAN uses stealth addresses who itself don´t bring any kind of anonymity.

But there aggressive marketing seems to work, a lot of people fall for this.

https://altcoinherald.com/bitsharesx-market-cap-quadruples-past-week/ (https://altcoinherald.com/bitsharesx-market-cap-quadruples-past-week/)

What's funny is how so many people will hate on a new experiment such as Bitshares that is pushing the boundaries and could eventually help EVERYONE.  Have your doubts, perform some due diligence, and make your decisions what to invest in otherwise sit back and watch the show.

The only way to learn is to try and if you fail at least you learned something along the way.  SpaceX just has a rocket blow up, are they now going to close up shop?  Even if the market peg does not work perhaps they can make changes to refine the software and get it going.

All you haters need to give some credit where credit is due, these guys are actually trying to help the general public.  All of Invictus has put there names on the board and do not hide behind any annonmous forum handles, think about that for a second.

Please read this.

http://prestonbyrne.com/2014/08/17/dont-walk-away-run/

Thanks.


Actualy, I think everyone should read before invest.

The core developer exposed the whole community to the writing of Mr. Byrne.

Clearly, the core developer is confident in his creation that rather than try and hide Mr. BYRNE s articles he shares it with everyone.

REPEAT ONCE MORE

http://prestonbyrne.com/2014/08/24/what-goes-up/ (http://prestonbyrne.com/2014/08/24/what-goes-up/).

This pretty well sums it up. I will wait for the market to pass the verdict on BTSX.

NO IM NOT GOING TO BUY MONERO BITSHARE-Y NXT-X or NEM-Y whatever ponzi share !
u can say it a billion times keep spam it all over the forum with ur 1000 accounts to suck in poor ppl in ur garbage scam scheme dude.  u r annoying as hell

~CfA~

Sorry to point out the obvious, but I do believe the "hate" you are talking about really stems from this



I'm sure its not the intention of anyone here to really bash on any alt coin, but the fact of the matter is that every new thing that comes out claims that they will take the number 1 or 2 spot. Its this type of brazen behavior that causes the community you call out to come out of the woodwork and defend what they hold dear.

For once I would love to see a promising alt coin where it's community doesn't state "We are going to kill XXX coin". As soon as threads like these are made, the community and the coin loses a bit of credibility.

Before this it was Darkcoin, before that it was NXT, before that it was Dogecoin, before that it was Auroracoin.........see the trend here?


It's like you people are cannibals. Stop the hate because you greedy people (not you, just pumpers in general) are doing nothing at all to help. Who really cares if you get the second or the first spot? Congrats, that doesnt mean Bitcoin or Litecoin will be any less important. And in the end we move one step closer to the ultimate goal, which is to utilize crypto's as a true payment system giving power back to the people.

It really is not a competition, every coin will be used by the people who wish to use it.

Different coins will serve different purposes and new roles - saying ONE is taking down the other is naive. ::)

Bitcoin is the grand daddy - it is only NOW being taken to the main stream slowly, if you think something as new as Bitshares with a market cap of 72M is going to take down a 6-7B coin... with a B not an M...  you are clearly trying to pump the coin. ???

Greed ruins what crypto stands for..  :-\

Thank you! Best post in this thread so far :).

TheMage pointed it out best...

Look at the title of this thread in terms of the word "hate"...

Then come back and talk to me. lol  :P

Got any evidence to back this up?  Please show the Chinese pump and dump, what is poorly designed, and what is misleading?

tomorrow something else will be taking litecoin down. That will be the talk for the next years. Every alt wants to take litecoin down. lol. I think it is just a term to hype it up as good as possible. It'll take a bit more than a chinese one-time-pump to "take litecoin down"
Your btsx is UP, Litecoin is DOWN. Best you can do now is convert your btsx to litecoin ;)

Soooo I'm guessing you already sold all your "shares" and you also have about 1,000 accounts?

Anyways, doesn't the whole world run on a ponzi scheme? Perhaps, the benefits out weigh the costs?
(assuming ponzi scheme means enriching the few) Even Bitcoin is a 'ponzi.'

For instance the biggest ponzi scheme of all fiat currently feeds us all. The only reason it works is because of group think and the fact that humans really aren't rational at all even though we like to think we are. This won't change until the technological singularity arrives and we merge with machines.
Anyways, assuming its all a ponzi certain ponzi's are better than others. Would you prefer the status quo where 80 something people have more wealth than the bottom 1 or 2 billion that starve and die frequently?

Perhaps the worst rhetorical reply you could come up with.

  If I was faced with that dichotomy then I would rather pick the status quo.   No one would support BitsharesX as it would mean centralization of power and wealth to few people in China, not even the other members of the BRICS would go for that.

Some guys keep telling us all the time that they don't like bitshares at all, these guys definitely are holders of huge stacks of crapcoins and shitcoins and see bitshares as the tool of the destruction of their shitcoins.

It could be great fun and amusing to tell us what kind of crapcoins you are holding!

Have you done your own research into the matter or just took Preston Byrne's word for it? BTSX has high Chinese volumes because the Eastern marketing effort is going better than the West, and also that the few exchanges listing BTSX happen to be majority in China. This is truly a global project with many Chinese holders, developers, and stakeholders involved, including those trying to make short term gains. DACsunlimited which releases the BitSharesX code is based in Hong Kong after all.

I think it's easy to dismiss something you don't understand as "poorly" designed. I'll give you an overview of my personal reasons for holding my BTSX for the long run:

1) Delegated Proof of Stake ensures the network is resilient to malicious / poorly ran delegates by allowing stakeholders to effectively "fire" delegates via their voting power. Votes are cast every time a transaction is sent. Delegates are "hired" by voters to produce blocks, and they get a portion of the transaction fees at a scalable rate (Pay Rate == delegate pay, Burn Rate == stakeholder pay). When delegates decrease their pay rate / increase their burn rate, more transaction fees are "burned" or destroyed, decreasing the total amount of shares in the system. Because of this, BTSX is deflationary and increases in value over a long term. Delegates can design their campaign to use their pay rate creatively, i.e. charity delegates, delegates for funding marketing, delegates for funding development, etc. In this way a DAC (Decentralized Autonomous Company) can operate in a profitable manner and use funds to bolster the community. This is good for the environment too, as energy doesn't need to be wasted needlessly in order to produce blocks as with PoW. Also, 10 second max block times makes using the wallet feel as natural as using plastic on the web. No waiting around for confirmation times anymore. Infographic: http://wiki.bitshares.org/images/5/5a/DPOS-infographic.jpg

2) TITAN (Transfer Invisibly To Any Name) is a new technology that allows transactions to be sent to names registered in the blockchain, instead of unwieldy transaction hash addresses. It keeps the names privately encrypted so that the parties involved can see the transactions in the wallet, but otherwise the blockchain shows addresses that can't be traced back to the name. An encrypted memo can also be included in the transaction. This also makes using the wallet feel natural, as you can send value to monikers and real names of people that you can recall by memory. Infographic: http://wiki.bitshares.org/index.php/File:TITAN_Infographic.jpg

3) Consensus Markets are really cool. Polymorphic digital assets such as bitUSD are just getting out of the gate but the peg has been tracking pretty well. bitUSD is "printed" by the market by using BTSX as collateral, with an "FDIC" style insurance fund that is grown by the DAC from collecting the difference between two matched orders (Note: BTSX uses a modified matching algo than traditional markets: http://wiki.bitshares.org/index.php/Bitshares_X#Order_Matching_Algorithm). I feel we will see it stabilize more after the first short squeeze, which is likely going to be triggered by a continued decrease in price. I love the fact that I can "cash" out to bitUSD to hedge my risk from volatility directly in the BTSX market! No longer do I have to trust 3rd party exchanges with my value. Also, I can make money when BTSX is in a bubble by buying BitUSD, and then selling it later when the bubble pops and the price decreases. This increases my overall BTSX stake because the bitUSD costs more BTSX when BTSX is lower. There is currrently a lot of potential for such arbitrage, and participating in it will only help to strengthen the peg.

Don't knock it until you try it!

While it is decent, the current price is too high. I have unloaded whatever I had at 0.000098. Thanks everyone  :)
I will get back in surely, but at much lower prices.

Do you think for yourself or just read what people ramble about?  Obviously most volume was on the Chinese exchanges because that's where its traded (Bter, btc38, and now Poloneix).

Read Robrigo's post, its quite informative.

a coin that shits their pants so much it can't even face the community around here and avoids having a thread on btctalk (possibly because of fears of being exposed for logic flaws) should "take litecoin and bitcoin down"?

gtfo!
people don't fall for this BS.  


... what if ... you can't trade bitUSD for anything else than their counterparts and the shit is a hermetic system in a system? Huh? What then? You can't trade that shitty btsx-things of the lower order for anything else than options IN the system or btsx since the contracts always need a counterpart.

So where is the dev now answering the concern?

Where is your nice bitBTC on the open market? Where can i buy btsx-options directly for btc or fiat? Nowhere. and that'll probably never change.

Very likely the reason of btsx avoiding btctalk.

You can trade bitUSD on bter now:

https://bter.com/trade/btc_BITUSD
https://bter.com/trade/bitusd_usd

This BitUSD experiment just began, we need to give it time to see if it can keep the peg and also to get others to accept it.  There are much much larger implications if the peg holds besides buying items online with BitUSD.

No it's not.

i'll take actual USD in my possession over BITUSD any day for a long long time.

+ 5%

Perhaps they are intimidated by Bitshares? I'll be honest that there is a lot of information to learn before you really start to appreciate it.
Just about every single alt coin out there is a scam and was created for the sole purpose of pumping and dumping. I'd say Litecoin fits this category too.

However, if people are genuinely trying to innovate then I don't see a problem what the problem is with them making some money along the way.

Is anyone upset or calling Google a ponzi scheme because the founders are now billionaires?

Google had to have a network effect for it to even grow similar situation with the crypto space right now.

Some of the coins I hold are so crap I doubt they're worth the hard drive space they're written on. I'm ashamed to own them, let alone defend them.

Step back and look at the bigger picture.  International business to business transactions or hell look what happened in Cyprus.  USD in your mattress is one thing but in a bank or exchange its just an IOU...  The market peg, if it works, will bring value to many individuals who do not have easy access to investing in stocks, metals, foreign currency etc...  Its another way to hedge inflation.

Check out this article and see if it starts to paint a larger picture.
http://bitshares.org/overstock-to-cryptostock/

Is anyone else having trouble running the client? It crashes every other minute.

No.. what version are you on?

As usual a good rise then a steady decline now let's see if this coin swims or drowns like so many before.

It was due for a correction, it went up too high too fast. This is not a pump and dump coin though, I have faith it will rebound even higher than before.

Too early in the cycle to conclude that. The price drop hasn't been THAT significant, like the pumps and dumps we have seen in the past. I think there are several catalysts on the positive upside still remaining, such as the opening up of the other BitAsset markets (BitBTC, BitCNY and BitGold being the major ones awaited). Plus, there are lots of improvements possible in the trading interface. Lets see if the price holds in a couple of weeks, should give a better idea, I think.

make sure you are on the latest client

bitshares-x.info

Did she buy? :)

Hah, I am curious too!

I totally disagree with the author.

My opinion:

Bitcoin is going drastically UP - long term
Litecoin is going slowly up - long term
Bitshares X is going drastically up - short term, and slowly - long term

i have to say Bitcoin is the king of the crypto,other coins just like a joke.

Everything is still experimental at this stage.  I don't think anyone can afford to speak in terms of such absolutes.  It's certainly fair to say Bitcoin is the current king of crypto and is likely to stay that way.  But there's no guarantee that any coin will hold the top spot forever, so keep an open mind and watch the trends and developments.  Other coins will have a huge amount of work to do in order to catch up, but to dismiss all other coins out of hand might be short sighted. 

Bitcoin still have more trust than all the altcoins out there.

For most investors and consumers who are in the know, all altcoins are still considered pump and dump coin.

Investors "in the know" are investing in legitimate new experiments such as BitShares, Nxt, and ethereum.  All of these are attempting to expand upon BTC with additional functionality.

Fiat currencies still have more trust than all the crypto coins out there.

For most investors and consumers who are in the know, all Bitcoin type things are still considered pump and dump Ponzi schemes.

Goose -> Sauce -> Gander

(This an endorsement of keeping an open mind and not being a herd animal, not an endorsement of BitsharesX.)

Who give you such confident?

Who are these "investors in the know"?

I'm talking about actual physical cash (USD).

lol as if I didn't realize that banks operate on digital cash (USD).

STFU Simon

How does a hero member say for most investors and consumers in the 'know' all Bitcoin type things are still considered pump and dump Ponzi schemes..

Are you saying you agree with the idea that a decentralized peer to peer trustless store of wealth is a pump and dump as opposed to what? the federal reserve printing monopoly money which we give belief to, give me a break.
Read the article below before you say things like Fiat currency has trust - it is not trust my friend it is ignorance.. We do not understand it and go about our regular day to day lives living in total perpetual ignorance.

If I miss understood you I apologize but it read that way.

http://thebitcoinmovement.com/bitcoin-peoples-bailout-currency-vs-money/ (http://thebitcoinmovement.com/bitcoin-peoples-bailout-currency-vs-money/)
http://thebitcoinmovement.com/wp-content/uploads/2014/08/nehpm-820x490.jpg

There are obviously some advantages to having physical cash compared to bitUSD (Bitshare's digital USD version), but there are also some disadvantages. I think it is silly to write off the whole idea of decentralized market pegged assets due to their real life counterparts being "safer." Do you also not have a bank account, not use debit or credit cards, and never buy gift cards as presents? I would argue all of those things are not as safe as "physical cash in your possession." Furthermore, you could make the argument that Bitcoin/Litecoin are not as safe as physical cash in your possession.. I just don't get your point.

The advantages of having physical cash in your possession are pretty obvious, so I will highlight some of the disadvantages. Physical cash can be:
- Easily confiscated by the government [bitUSD- (if you secure it properly) could not confiscated]
- Easily taxed (no one can force taxes on transactions with a decentralized block chain)
- Limited transactions (you can't send it anywhere in the world on a whim)
- Someone can easily short change you without you noticing (cannot happen with cryptocurrencies)
- Someone can give you fake dollar bills as change or payment (cannot happen with cryptocurrencies)
- You cannot easily speculate on the price of the dollar with cash (with bitUSD you can conveniently go long or short)
- Etc.

There are uses for decentralized digital forms of FIAT and commodities, and that is what makes Bitsharesx valuable (and me a fan boy of them.)  ;D

The real test of the BitsharesX concept list in comparing bitUSD/USD https://bter.com/trade/bitusd_usd (https://bter.com/trade/bitusd_usd) with BTSX/XBT http://coinmarketcap.com/currencies/bitshares-x/ (http://coinmarketcap.com/currencies/bitshares-x/). At the recent low on August 29 in BTSX/XBT we saw bitUSD/USD trade at 0.71. This makes a lot of sense since the drop from the high in BTSX/XBT was over 50% resulting in the bitUSD being under capitalized and consequently the low price.

In short it appears that the prediction market would only work if BTSX/XBT does not drop enough to cause the bitUSD to be under capitalized.

The Bitshares community is brainstorming different market restrictions for shorts that could be done to make sure the market peg holds. It has been fairly accurate thus far, but it could be improved upon. It has worked pretty well though as a hedge against BTSX bubbles. For instance, in the recent mini bubble.. Those that bought bitUSD at the peak and sold it in the trough ended up with almost double the amount of BTSX than if they would of just held BTSX.

I wanted to elaborate on the benefits of bitassets, as I'm not sure that everyone understands them thoroughly quite yet.

Along with being able to use them to hedge your investments, they can also be used as an alternative to centralized exchanges. Trading on the decentralized exchange in BTSX is safer because you can do so without going through a trusted third party (a centralized exchange), where you are instead exchanging btsxIOUs for xbtIOUs or xbtIOUs for usdIOUs, and your funds could theoretically be seized, stolen, or held until you comply with some sort of kyc (know your customer) procedure.

It is safer than trading on an exchange if you are trading just for the sake of trading. If you are trading to spend them then that is another story, but I have a feeling the bitasset infrastructure will fall into place to allow people to do that. With multi coin payment processors and gateways the ability to spend bitassets could be extended to anything you can buy with any other Cryptocurrency.

yup and when a big dump comes.......

A big dump already came and it didn't kill the value of bitUSD. BTSX went from 0.00009679 to 0.00005053 on the 25th through the 29th. It lost almost half of its value, but the market peg held right around where it has been. Admittedly, the market peg is not perfect, but everyone is brainstorming on how it can be made more correct. During the crash, the value of bitUSD never went below $0.86 USD, with it mostly being within the range of $1 to $0.90 USD. Additional restrictions on shorts were put into effect yesterday and it has been more accurate.. $1 to $0.91. You can see the Bitshares community is brainstorming ways to reach parity and instill confidence in bitassets ability to reach parity: https://bitsharestalk.org/index.php?topic=7953.0

I think everyone in the Bitshares community knows how important it is for bitassets to resemble as closely as possible the value of their real life counterparts. Fwiw, bitBTC started trading last night and it has been tracking more accurately than bitUSD. I speculate this is because there is more demand for Bitcoins and less demand for FIAT... makes sense really. Everyone that owns BTSX seems to be pretty bullish on it, so the buy support for bitUSD is lacking. I think the Bitshares community are for the most part pretty bullish on Bitcoin too, so I expect this to be less of a problem for bitBTC.

That was not a big dump, only what ~50-60%. Check history charts of Bitcoin, dumps as big as 90% are possible. Bitshares just started its sail.

With the amount of time you spend on this forum (and others), sure php is not in great demand nowadays.  :)

Don't be envious :)

-->http://coinmarketcap.com/ and http://coinmarketcap.com/currencies/bitshares-x/

this thread is just a try to pump BitsharesX.

BitsharesX price is going down, like any other cryptocoin and have a volume 24h more than 7 times lower than litecoin's volume. And i don't even talk of bitcoin.

If bitsharesX price dumps , then the assets and "pegs" will suffer.

AND

On a conceptual level, why is BitsharesX still obsessed with USD a centralized currency backed by war and destruction, I would hope that people that build interesting technology could look beyond trying to "peg" USD, just drop all the USD crap.

What is the obsession of "taking down" litecoin and bitcoin? Please explain what you mean exactly by "taking down"?
Is this the forward thinking innovative thininking going on in BitshareX heads? To "take down" other crypto, and then.... sell your BitsharesX and move to an island?



If BitsharesX gets really low I might pick up some, I suggest waiting for the big dump, and I mean BIG ,just wait.

In the meantime you can take part in the BotsharesX IPD Initial Public Drop which was started when the Central committee of Delagates COD reached consensus.

http://dogepartytalk.org/viewtopic.php?f=16&t=47&sid=7cd8f2b593b9011399fb0cdc12b3cced

There is no reason to pump btsx, it will go up without help.

BitsharesX is not like any other crypto, you obv. have no clue what you are talking about.

And it comes out!

We are all stupid because we have questioned the base risk of the whole bitshares system!

When there was a 50% drop bitusd was at 0.79 and when there is a 500% drop, what then?

lol @ > 100% drop being mathematically possible

 ;D ;D ;D ;D

NEGATIVE VALUE FOR HOLDING!

For discussions sake lets say it goes down to 5% of orginal value, what artifical steps would the central commitee of bitshares have to take to maintain the peg?


How much does it cost for a company to launch an asset on the network?

All those bitshares attackers give me this impression...

https://www.youtube.com/watch?v=zrzMhU_4m-g

Hi,
Are "attackers" ones that ask fundmental questions that never get answered straight?


There is a base risk in the bitshares system if the price of bitsharesX crashes than the value of the assets are at risk, this is base risk.

Look at the title of this thread "taking down"

Sow the wind, Weap the whrilwind
If you start talking about "destroying bitcoin" "bitcoin killer" and other cultist talk you might, could be, perhaps "attacked" by some people, big suprise.

Im totaly ok with the technology here, I am totaly not ok with bitsharesX being sold as a "safe" "stable" "investment" without explaining the base risk involved.

You give me the impression that you ask no "fundamental questions", you give me the impression that you are here to spread FUD, I might be wrong though... In any case If you really have questions your best bet would be to ask them in https://bitsharestalk.org/  someone from the 6134 registered members and the devs themselves would be more than happy to answer your questions. Bitcointalk doesn't have much attention from the bitshares community, all the action is in the bitshares forum.

Hi,

Please point to what part of anything I said is FUD.


We are asking you here, please answer here.

Why does BitUSD have value? Can you cash it out for USD? Is there USD backing it up?
Are those questions "FUD"?

How can I create an asset in the bitshares system?
How much does it cost?
Who has to approve my asset?
If it costs who gets the funds?
Why even peg the USD?
What is the obsession with USD?


These should be easy to answer. If these questions can not be answered in a thread with the title "BitsharesX taking down bitcoin and litecoin" then that speaks for itself.

Seems like legit questions..

BitUSD has a value as long as btsx has a value. Cash out? Yes, sell for btsx and sell the btsx for USD or whatever.

Create assets simply from the client. Fees for creating a new asset (while i write this post): 332,717.4144 BTSX
(from bitsharestalk board: The cost to register an asset is proportional to 2 weeks of network transaction fees.  Very expensive and intentionally so.  Because of the way it is calculated, you can expect it to double when a new asset is registered and then slowly fall over 2 weeks.)

The funds are distributed to the delgates as fees (deatils here: https://bitsharestalk.org/index.php?topic=5859.0)

Why peg the USD? Why not? Because we can? No obsession, there are also € avail, and many other currencies in the future.

Lol...

Anyways.. don't waste your time with this guy. He is obviously trolling.. Possibly the most blatant Bitshares FUDster yet considering the link in this post. He doesn't think Bitshares is a good idea, yet he supports and/or is involved with a clone of it called Botshares on Dogeparty. https://bitcointalk.org/index.php?topic=763383

Sooner or later all shitcoin promoters like krach will be left behind to hold the bags of their own shitcoins, keep a very large bag at hand dear krach, you are gona need it, especially for those dogecoin dogeshits you are promoting.

https://i.imgur.com/VdFDdVB.jpg

lol

I dont have any issue with bitsharesX as a technology, as I have already said. There is an obsession with USD, and the reason for the bitUSD is a supposed to make things "stable" but this is an oxymoron upon itself.

For all people posting pictures of crap as an argument, it shows the level of the bitsharesX fans. Continue , As you can see I am giving away botsharesX and I am not claiming that it is a safe stable or smart investment, as BitsharesX does. BotsharesX is not a "bitcoin killer" or some other "killer" or trying to "take down" anything, instead trying to build. The whole mindset of "taking down" bitcoin, litecoin or any other coin speaks a lot for the the whole thread. If you take this next part sooo sersiously then be my guest: BotsharesX is NO CLONE it works differently, there is a Central Organ of Delgates that Dictate everything about it. Dogecoin and Dogeparty uses POW because the miners are not LAZY coin holders collecting rent. The level to entry is not eliteist as it is in BitsharesX , there are not Delagates that get paid when you create an asset.

Again, I ask you , what is this so called FUD that I posted, please quote it.

You are blatent Pumpster pumping things that you own so that you can exit when the price goes up. No interst in building anything.



Exactly, and when it is worth a hellva lot less than it is now........ .  .     .      .

The price of creating an asset in the network is high, this is suppost to support the creation of "serious" assets. Serious enough to pay a good ammount of bitX to help support the price. That is fine, BitsharesX assets can be for the elite, go for it. As long as the cultist mindset is to destroy other coins then it is doomed.

How much do you need to invest in BitsharesX to make an asset? Currently 8.849276 BTC What a deal! Totaly safe, stable and smart!

BitAssets are having some issues, but that was expected with an experiment like this. Good thing is that issues are being identified and potential solutions are being discussed.

I have no doubt you all will like the results. If you had followed BM you would have known how we eventually ended up with the elegant DPoS after a lot of discarded ideas on the way.

We can all see this in the picture I posted above...

Yes I am a well known altcoin promoter.

Post your dogeparty address in this thread for free BotsharesX



BotSharesX is about more than PR, pump and dump, becoming a middle man where none is needed, a new form of speculation, talking about stealth addresses while at the same time catering to reglation, a bitcoin killer, an altcoin killer, something only "smart" people in the inside group understand and talk about.
It is waaay more than that, it is what’s possible with a blockchain.
It’s about changing the rules of how to dance using crypto.


Transactions take place in dogeseconds, faster than wire transfers which take hours or days. Transfer intergalatical at the speed of the universe!

yes, with the title of the thread it will be trolled.

Since you posted that you are 50/50 bitcoin bitshresX I understand why you so emotional.

......

Trolls gonna troll.

Really ?
Did I read that right? 332,000 BTSX to create an asset ?
Which is then given to the delegates ?
How many delegates are there ?


I'm just gobsmacked by the asset fee....not exactly making it accessible, eh?

The asset fee is high because we only want legit (read:quality or large businesses) assets being created on BitsharesX. BitsharesME will come out later this year that will have a much lower asset fee for smaller mom and pop assets.

I think he is way off on the fee amount to create an asset on BTSX anyways, but I don't know the number off the top of my head.

Hi,
Why should I pay so much to launch my asset on bitsharesX when I know bitshresme is coming soon. What is the advantage? An "X" instead of a "ME" ?
Cost of asset is one or two weeks of network fees, i think.

In any case eveyone that has any stake in BitsharesX needs to read this:

https://bitsharestalk.org/index.php?topic=7065.msg96548#msg96548


base risk


It would be fine if this was talked about from the get go, but it isnt.




 

Ah-ha...Preston Byrne and his BTSX assessment:
http://prestonbyrne.com/2014/08/17/dont-walk-away-run/

And the BTSX community response:
https://bitsharestalk.org/index.php?topic=7065.0


I've spent some time talking to PB, and I'd value his opinion on crypto (and legal) matters.
Dude has a big brain, and is taken seriously by most people.

My personal take on BTSX is that it is a genuine effort to create a new crypto, but I think that it's needlessly complex and that could lead to problems.

yea but the quote isnt even from Byrne and I linked to the thread deemed as the "response".

In non complex terms, when the price crashes, it will bring the whole ecosystem down with it.

I think there are already "fixes" in place, like not being allowed to short below the median price feed published by the delegates.

Still does not remove the base risk.

Im more interested in this new project bitsharesME that is not so elitist and that defines "legit" with having a lot of money.

Yeah, the ME version is more democratic in that it's easier to create user-defined assets but I guess it runs the risk of low liquidity in certain markets and therefore probably subject to manipulation. If you create a bitWine, what price is it supposed to track?

I think Bitshares Me will be like NXT. At least that whats I figured out.

Right now NXT and BTSX are not really competitors, both serve different purposes.

Im not way off, its simply the fee that is shown by the client.

Whether BitWine tracks anything depends on whether market participants form a consensus around a focal point (see http://en.wikipedia.org/wiki/Focal_point_(game_theory) ). It is helpful and to some degree necessary for the Asset to be specific for a focal point to form. BitOneBarrelCrudeOil sould be specific enough. 

I always found that funny. What are the criteria you attribute to a "compliment". Why should NXT, BitShares or any shitcoin not be a compliment? Only market cap? If only market cap mattered Bitcoin would have to continue to rise constantly against all alternatives (didn't) and any alternative to it would have zero value.

Thing is, I think a lot of new coins are going to add asset exchange as a feature.  So it's not like NXT and BTSX will have that exclusive selling point for long.  It's rumoured some coins are also working on an integrated dividend payment system, so you don't have to manually pay out dividends like in NXT.  It's still all to play for.

Right, since it is a continuous innovation battle. the best team wins. My assessment about the quality of teams in order: BitShares, Counterparty, NXT, Bitcoin (core devs / foundation). Looks weired with Bitcoin at the end but we will see in a few years how things played out. There are only 3 payed Bitcoin core devs. It is not surprising that this doesnt generate a lot of innovation.
And BitAssets are different from Assets on Exchanges like NXT or Counterparty. The latter have a centralized counterparty, the first doesn't.

There is a third-party script for NXT in existence since May that pays dividends automatically, and some companies on NXT AE have used it successfully many times.

And the developers are adding automatic dividends into release 1.4 of the client as part of NXT AE v2 with many other improvements & addons, which is scheduled for October-November.

im buying out all LTCs i can pre 5USD price.

Great post Dave.  I have watched Bitshares for a long time and watched them waiver back and forth about how they were going to accomplish their goals.  

Now it is up and running and people are seriously pumping so I was brought here.  

I'll summarize the Preston link like this, "Bitshares is a ridicolous scheme because of these facts.  Fact A, Fact B, Fact C, Fact D...... Fact Z."  Lots of great solid points how as a financial system it just doesn't make sense.

The BTSX community response is to ridicule him, joke about him, and blow him off but not ever really address his concerns.  Along comes the Let's Talk Bitcoin host Adam Levine and asks the community to try to explain how Preston is wrong.  Community then trolls Adam and Preston together with no dev explaining how Preston is wrong.  At one point many pages later after repeated poking by Adam one regular Joe gives it a fair try, but you get the feeling if Preston and Joe were in a debate, ole Joe would leave crying.  

Wasn't interested in investing in Bitshares before, not now either.

Preston's articles can not really be taken seriously. In his first article he just bashed it without any arguments really (that was not a serious discussion that can be taken seriously). The second article was more balanced. He basically agreed that in principle it can work except for one issue he had with it (read yourself): http://prestonbyrne.com/2014/08/24/what-goes-up/ In the discussion section at the bottom he and Daniel (Larimer from BitShares) have a discussion that ends without a major disagreement.

In his third article again he is totally unbalanced and bashed it only for bashing it. His point is that the market peg was off at the fifth day. Only saying that is completely imbalanced and not a neutral analysis. BitAssets where only running a few days. The market first had to form. Since then the price of BitUSD got more and more stable and more and more close to the USD, see http://www.bitsharesblocks.com/assets/asset?id=USD (price history).

Given the biased nature of Preton's posts (it obviously is not a weighted and in detail discussion) posting those articles serves something else but analyzing how and if the BitUSD market peg works. Blog posts that are very controversial increase his public exposure which he profits from as a lawyer that offers services for the crypto space. I personally found the articles funny because they satirized the system but there was not one sentence that said why it works or why it does not (except for article two).

I agree.



In fact any article not fully embracing bitshares and dpos can not be taken seriously by the bitshare devotee and delagates.

There are plenty of points in the first article.
The second article which you link two clears these things up: "1) On my motivations 2) The extraordinary claims 3) Prove it"





So it wasnt true or it is unfair to even bring it up. Sorry if you make extraordinary claims expect extraordinary scrutiny. Basicly anyone that does not say bitshares is the best thing since X is "biased" , great argument.


[/quote]
from the blog:
Another reason why it doesnt make sense or work from the fist blog post:

And more


I guess you were reading the article form a nobiased neutral stand point, I guess we can take your posts seriously since you bashed the blog for just bashing without reading it.

More typical tribalistic cryptoX speak, but I thought bitsharesX was so different?


BTW
How does BitFund.PE make money on the bitsharesX project? Why isnt this contract somewhere in the bitsharesX blockchain for everyone to see? Or was the funding a donation?

+1 . He've just told his own view and that doesn't mean that this is true, he might be wrong as well as anyone.


well, IMO, it could happen that if integrated dividend payment system would succeed than other devs will implement it in their coins

Meanwhile in related news - Okras are taking down Philly Cheese steaks.

Smart move

I am trying to as well. 

re: very first post in this thread.

Without arguing the merits of any of the currencies, that seems like a bad Amway / insurance pitch. I'm new to this forum but guessing that is not a rare occurrence?

How can I mak emoney with Bitshare technology?

What would be advice of someone who has deeper understanding of system and tech to noob like me?

What should I buy and why is it best to invest in?


Thank you. (dont worry I will not blindly invest, I will study it more, just need some direction, because info is kinda overwhelming)

This is a good place to start: https://bitsharestalk.org/index.php?topic=7103.0