Bitcoin Forum

What happened to them creating a brand new thread every 20 minutes?  I thought this was going to replace LTC?!   ???

Fake pump last year and year before was litecoin is gone and he always rise up.

So this time will be the same

No the time to had bought was a few weeks ago during the $5 million IPO.   Myself I wouldn't had been involved as I stay away from all these overvaluation IPOs like Mastercoin (failed), Maidsafe (barely grew beyond IPO), Ethereum (Goldman Sachs' Vaporware) and BTSx (crashing or undergoing correction).


Cryptos is full of greedy people who think capitalization is everything when it is not.  User adoption is more important and BTSx has failed in that sense as 99% of their volume comes from China and worse yet it's alleged to be from a few private funds in China.  

Same thing happened to Soiledcoin, MicroCash, NXT, DarkCoin, ...nothing new.... ::)

Still worth keeping a close eye on development of BTSX.  At least its bringing something new to the table...

Nothing is proprietary in crypto currencies.  If this is the new status quo and NXT does not rebound then some subsequent innovation coin will upstage BTSx.  This is what I mean in these cost prohibitive arm races and cyclical pump and dumps.   They're popular with private funds in China and certain international speculators but these 'innovation coins' have no shot at replacing or rivaling Bitcoin due to the people who are continuously being burned by them and lack of long term holders (what few holders there are end up being bagholders in a redistribution of wealth towards speculators who engage in pump and dump).

20% price correction today. Looks bad for people who bought at top yesterday.

Probably you misunderstand something, the "IPO" was at February, until 28 Feb 2014 (including):
https://bitcointalk.org/index.php?topic=485166.0

BTW: "BitsharesX people are not spamming anymore?" Can you prof that BitsharesX people spamming before? You count news about BitSharesX as a SPAM?

I'm loving the dump actually, price need to stabilize, I hope the price get taken back to 0.00002 level, it's still far too high and difficult for me to buy more.

I am thinking 0.00001 at the very least, or even lower.
The run up was massively hyped, it will have a slow decline now, so everyone will have enough time to get out.

You don't know BitShares community, they doesn't look like they want to dump BTSX even at this price.
Keep your eyes at discussions here https://bitsharestalk.org/index.php?action=unread and you will see potentials of whole BitShares ecosystem.

You are right, they do not want to sell. Just lose millions in a buggy software.

This one lost 10 million https://bitsharestalk.org/index.php?topic=7622.msg102566#msg102566
This one says BitUSD is worthless https://bitsharestalk.org/index.php?topic=7735.msg102555#msg102555

You didn't even read those two threads, just posted links!  Obviously there will be bugs in new software and most of the time a re-sync clears funding display issues up accordingly.  Secondly the market depth is shallow until more people begin to use it.  Read the thread's you posted and perhaps you can understand.

Did I understand the initial IPO was $5,000,000?  (Wasn't paying attention)

Go read the early pages on the Memory coin topic is my suggestion..
It's wise to know who you are dealing with or their numerous alternate accounts.

Long Story short Mr. FreeTrade seen other guys getting rich from doing an IPO / Shares Ponzi and thought.. ME TOO !

Spoetnik, FreeTrade only helped launch the ProtoShare QT client, he has nothing to do with the coding itself of PTS or for that matter Bitshares etc... 

Memory Coin 2.0 he did launch however no where on this form does anyone show MemoryCoin 2.0 being a scam or anyone getting rich!  In fact in Memory Coin 2.0 there is voting which recently elected a new CEO that has been trying to get MMC 2.0 back on track.


Please perform due diligence, people will respect you more.

I read them, and am still reading. There are lots of complaints of losing balances, unable to access wallet.
Its a mess and a defective software, try to defend it as much as you want.

Please keep all of us updated.

The price drop is a perfectly natural 50% correction after a phase of hype and has already consolidated around 6-7000. Buy now or cry later. Also BTSX has not been spammed here whatsoever, in fact there's hardly any talk of it at all. You wanna see altcoin spam look no further than Monero.

From the man himself:


No balances have been lost, there are just some bugs which are in the process of being fixed. Bitassets just went live on Monday, there was bound to be some hiccups. Give them a week or two to get things ironed out.

By the way... The OP of this thread has been hating on Bitshares for weeks now. He repeatedly posts and starts threads about how bad Bitshares is... I think he is scared of it. Same goes with Smoothie and Spoetnik... They are just trying to defend their alternative investments, and have been talking crap about Bitshares for weeks. Do yourself a favor and learn about BitsharesX before knocking it. I know TaunSew, Smoothie, and Spoetnik aren't interested in learning, only being ignorant and/or spreading FUD, but for everyone else....

It is a large improvement over Bitcoin/Litecoin at its core, AND it has an awesome new decentralized market place to trade what's called bitassets. 15 second transaction time, forced "Bitcoin's best practices" for anonymity which forced you to use a new address for every transaction, the got rid of old nonsensical addresses and you can create your own user account to send/receive funds with, an improved PoS implementation... it is not a pump and dump coin like the people trying to prop up their own investments would like you to believe.

More about bitassets.... Bitassets are like a crypto currency, but they are pegged to the value of another commodity/fiat through an entirely decentralized method. There is bitUSD which always closely resembles the value of the US dollar. Soon the other markets will launch which will allow the trading of Bitcoins, Chinese yen, Gold, Silver, Etcetra. It is the first crypto currency to be able to peg itself to the value of an outside commodity/fiat in a decentralized way.

I hate to look like such a fan boy, and I usually try to stay impartial, but all this FUD is annoying. The Bitshares guys mostly don't post on these forums because of how they were treated when they first announced the Bitshares concept over a year ago, so I am here sticking up for them.

/rant

Well the thing is, I don't prefer people who do not contribute to Bitcoin and go make something this complex.
If any Bitshares supporter markets it somewhere as Bitcoin 2.0 you will get unbearable amount of hate from the community. Whenever BitsharesX will succeed or not remains to be seen. I have pointed out that the complexity is the problem for a wider audience.
It's hard to introduce people to Bitcoin, and it's much easier to understand than then whole system behind Bitshares.

Ironically the OP has been repeatedly bumping Bitshares threads for weeks and saying how horrible it is, but it is just creating more hype.  ;D

Bitcoin is much easier to understand for you because you have been in the process of understanding it for years now. It is a complicated subject and bitassets are similarly hard to understand.

If someone doesn't understand how it works, then that's OK... You don't need to understand, just understand that it works. Do most people know on a technical level how debit cards work? Gift cards? Bitcoin exchanges? Airplanes? Cars? Medicine? Surgery? Computers? TVs? No... Yet, people still buy and use these things on a massive scale without even thinking twice about it, because they are told it is safe and everything works properly. Any new technology will be met with skepticism, but once it is a proven technology people won't even think twice about using bitassets. They are after all less than a week old. Furthermore, very few people know exactly how Bitcoin works.. I'm talking down to a source code level. Sure, people can learn and understand general concepts.. but even then you are just taking other people's word for it that it works as described.

An easier way to explain it to people is that bitassets are market pegged assets... A crypto currency pegged to the value of the US dollar, Bitcoin, Gold, or Silver. That's all they really need to know. Then if someone wants to learn how it works they can dive into the technicalities of it, but it is not necessary to understand exactly how it works to utilize its capabilities. Using bitassets is just as easy as making a trade on an exchange... anyone can do that. There is no need for everyone to understand exactly how it works.

To me, this is like saying William Durant shouldn't have decided to diversify his business to so many models of Chevrolet vehicles back when the cool thing to do was to make a carriage style car (ala Ford). But without that innovative train of thought, maybe today we would all be driving the same vehicle? It isn't wise to be afraid of new bleeding edge technology because you think the innovators could be working on something you'd prefer, or even because you don't understand it yet as Coinhoarder mentioned. (Have you actually tried?)

 For me, the most important ideological notion behind crypto-currencies is the freedom that it entails. So why not respect other people's desires to innovate, to work on the project of their choosing of their own free will, without having a negative view of their choice? Don't we all stand to benefit if some cool new piece of open source software can take blockchain technology to the next level? Sure, maybe not monetarily, but as a society we all stand to benefit.

Have you considered that the ideas presented by BitSharesX are a bit too radically different than how BTC operates for both teams to be working on the same project (you said you'd prefer people worked on BTC instead of altcoins)? I think it is quite an elegant system now that I "get it". Yes, the documentation needs to be improved along with the "layman" description of the system, but that is all in the works.

Satoshi & Bitcoin are awesome because they gave the world a new way of achieving a "mostly" secure and decentralized network guarded by the laws of cryptography and math. But as with most groundbreaking ideas, someone will come along, remix it, cannibalize it, whatever, and make a new idea that will improve upon the old.

I believe a technology that improves upon network security and reduces confirmation times will displace Bitcoin in the long haul. Maybe it will have some shiny bells and whistles too. (bitUSD anyone?) No disrespect to the miners, to the network, to Satoshi, but I think it will happen. Most likely NOT because the Bitcoin developers are technically incapable of incorporating the innovation into Bitcoin, but probably more likely due to the politics of doing so (i.e. the miners who've invested capital will not like to see it migrate away from PoW).