This is closer to Multi-Level Marketing, which can still be shady, however is also a legitimate form of marketing. It really depends on the finer details.
Let me quote wiki on MLMs: The network marketing or multi-level marketing (MLM) business has become associated with pyramid schemes. According to the U.S. Federal Trade Commission, many MLM schemes "simply use the product to hide their pyramid structure".[7] While some people call MLMs in general "pyramid selling,"[8][9][10][11][12] others use the term to denote an illegal pyramid scheme masquerading as an MLM.[13]
The Federal Trade Commission warns, "Its best not to get involved in plans where the money you make is based primarily on the number of distributors you recruit and your sales to them, rather than on your sales to people outside the plan who intend to use the products."[14] It states that research is your best tool and gives eight steps to follow:
1 - Findand studythe companys track record.
2 - Learn about the product.
3 - Ask questions.
4 - Understand any restrictions.
5 - Talk to other distributors. Beware of shills.
6 - Consider using a friend or adviser as a neutral sounding board, or for a gut check.
7 - Take your time.
8 - Think about whether this plan suits your talents and goals.[14]
Some authorities contend that MLMs in general are nothing more than legalized pyramid schemes.
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our referral program which encourages everyone to teach others about that utility.
But biggest of all is the partnership program in where partners refer their existing customers and collect 80% of their lifetime usage fees.
So, if you are a professional society with 30,000 members and you come up with a reason for those members to use BitShares and motivate them to sign up, guess what? Your society gets 80% of the fees from 30,000 people using the network.
How many organizations are looking for new ways to monetize their existing user base?
Here is the definition of a pyramid scheme. |
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our referral program which encourages everyone to teach others about that utility.
But biggest of all is the partnership program in where partners refer their existing customers and collect 80% of their lifetime usage fees.
So, if you are a professional society with 30,000 members and you come up with a reason for those members to use BitShares and motivate them to sign up, guess what? Your society gets 80% of the fees from 30,000 people using the network.
How many organizations are looking for new ways to monetize their existing user base?
This sounds like a pyramid scheme. |
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BanxShares technology itself appears to be a simple copy and paste from foocoin, a template for developers looking to make a copy & paste coin. The Banx source code includes developer notes referencing foocoin,  As Mark Lyford has stated himself on the forum many times, an investment into Banx is an investment into him. That couldnt be more true because the majority of the profits seem to be dependent on his ability to bring in more curious investors. They may be buying an educational course but the promise is that they will be able to turn those courses into a significant amount of bitcoin and Banx. What is Mark "White Trash" Lyford going to teach anybody about anything? How to scam newbies, internet porno, drug dealing or pigeon racing? |
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you must have at least some idea of what's happening within the businesses that are supposed to be running on OpenLedger.
Let me see if I have the list right:
CCEDK
Banx.io
Banx Capital
Banx Platinum
Banx Technology
Banx Mint
Peak Venture
BunkerShares
LottoShares
Remittio
Anything I missed ?
So two-thirds of the "businesses" (lol) are run by that white trash porno pervert and convicted drug dealing felon? |
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Keep telling yourself that Stan, Dan and the Chicom gov doesn't rig all the delegate elections and control everything in Bitshares.
They could but thats besides the point  This is exactly the reason why we will never agree. It is in fact the whole point. |
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Isnt comefrombeyond the main dev? hes focusing on other projects now it seems
I saw him post he was 80% done creating a new coin. Hopefully it will not be IPO'd to 11 people.How true was it that NXT IPO/ICO/Presale (or whatever) was sold mostly to their insiders? There was always this assumption hanging around. Total bogus. CFB isn't BCNext anyway. Keep thinking that I knew all the Bitshares commies would object to a free market endeavour. Keep telling yourself that Stan, Dan and the Chicom gov doesn't rig all the delegate elections and control everything in Bitshares. |
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Isnt comefrombeyond the main dev? hes focusing on other projects now it seems
I saw him post he was 80% done creating a new coin. Hopefully it will not be IPO'd to 11 people.How true was it that NXT IPO/ICO/Presale (or whatever) was sold mostly to their insiders? There was always this assumption hanging around. Total bogus. CFB isn't BCNext anyway. |
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As i posted in the other thread of cryptojerks the 245% you claim is the increase in a banx sharea price. Its not claiming to make you 245% a year thats a little different.
Why are you such a liar?  It's the Bitshares / Banxshares way. Everybody knows 245% in the Bitshares / Banxshares world is really 0.245% in the real world. |
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That's right folks, 170 FREE BANXS SHARES EVERY SINGLE MONTH! IT'S LIKE WERE GIVING MONEY AWAY OVER HERE!
HOW CAN WE AFFORD TO DO THIS YOU ASK? BECAUSE WE ARE THE MOST INNOVATIVE CRYPTO BUSINESS IN THE WORLD!!!!1111eLEVENTY!
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RIGHT NOW THE WEBTUBES ARE TIED UP, BUT GET YOUR CREDIT CARD READY BECAUSE ONLY THE NEXT 94 93 CALLERS WILL BE ALLOWED IN. THAT'S RIGHT ONLY THE NEXT 91 90 CALLERS WILL BE A PART OF THE BANX EMPIRE. WHAT R U WAITING 4? GET YOUR CREDIT CARD OUT NOW!
*Shipping and handling not included
**Automatic month deductions cannot be cancelled
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Stan, you guys hired a pump group yet? There's still no activity in the exchanges, esp. at Poloniex since that's where most of the BTS volume is.
You can reply via PM if you don't want to make it public.
Chairman Stanlin is the "pump group". |
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BTW: just because I can't believe it, here's the BanxPlatinum page: http://banxplatinum.com/"Top secret, risk free strategies to give you a 16% monthly return"
From the first few seconds of the video. |
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If you prefer blue instead of red, we understand.
 Oh yea you speak from my heart, BLUE NXT coin is much better than RED communist centrally planned fiat garbage 
..
.__
./΄―/
/΄――`·Έ
.//
/
./
./¨―\
..((
΄
΄
. ―~/
)
\
..
../
.
\
. _.·΄
\
..( BRO FIST |
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I'm pretty sure those two will hit it off and laugh at themselves silly when they meet irl.
If we ever meet irl, there will be a street fight of epic proportions in which only one of us will walk away. Can you make gif what it looks like? I'm really really curious how epic it will be...   |
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If you prefer blue instead of red, we understand.
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I'm pretty sure those two will hit it off and laugh at themselves silly when they meet irl.
If we ever meet irl, there will be a street fight of epic proportions in which only one of us will walk away. |
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What happened to the cooperative attitude the crypto community used to have?
Well Chairman Stanlin, when the corporate fascists / communists started their invasion of the cryptosphere and started promoting derivatives as assets, cronyism as fair elections, centralization as inevitable, and asked us to hand over our private keys some of us got angry. |
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I stop posting to the forum for one day and I come back to see this. TL;DR?
This is all you need to know: NXT - We are the descendants of Bitcoin. We are the continuation of the cause it started, but that perished with its centralization. An economic system is a manifestation of an ideology. What was lost, we shall reclaim. BTS - We are the descendants of fractional reserve banking. We are the continuation of the corporate fascist / communist agenda perpetuated onto the blockchain. An economic system is a manifestation of crony capitalism, controlled by the few and selected by the Chicom government. What power we lost with the advent of the age of crypto, we shall reclaim. Proles, hand over your private keys to Chairman Stanlin and take these brownie points. |
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Once again "pooled staking" isn't "required in NXT". It is and I already explained why. Claiming pooled staking isn't required in NXT is like claiming pooled mining isn't required in Bitcoin. You can only claim it's not required while the coin is in it's infancy, not the endgame. "Pooled staking" isn't required now in NXT nor will it be required in the future. Running a node will only cost ~$30 a year regardless of your stake. There is no mining hardware that must ROI in a set amount of time that would force people into pools to ensure they can pay off their investment. What don't you get about this? You cannot "audit" under the table dealings and secret arrangements between delegates. That's called collusion and affects all three systems: PoW, PoS, and DPoS. Claiming collusion can only happen in DPoS is borderline comedy. Here's some differences for PoW vs DPoS collusion, which also affect PoS: There are two kinds of attacks that apply to POW and DPOS: (1) "Malicious campaigning": A mining pool can attract miners only in order to attack. Equally a delegate can attract stakeholder votes only in order to attack. (2) "Bribing": One can try to bribe mining pool operators and delegates with the same potential for harm. In both cases stakeholders respectively miners can switch delegates respectively mining pools if the bribe attack becomes apparent. The differences are: (a) There are more delegates to bribe or campaign for than there are mining pools. (b) Delegates have made a commitment to work in the interest of stakeholders whereas mining pool operators work in the interest of miners who's first interest is not necessarily the health of the Bitcoin network. (c) Mining / POW is less efficient in terms of costs per security gained which in the end has to be paid by the user or by inflation / creating new coins although this is very difficult to estimate. What has to be compared is energy costs and mining hardware costs on the one side (POW) vs. voter attention costs minus the bigger number of block producers (more security), minus the extra security through the advantages of reputation and commitment, see above (DPOS)." Source: http://consensus-analytics.com/Collusion doesn't affect PoW or PoS like it effects DPoS. By removing the requirement that miners/forgers purchase hardware/stake and replacing it with a corrupt voting mechanism, you have made it much easier for a small group of manipulators to control the entire network by effectively rigging the delegate elections through strategic voting. Your ridiculous link is entirely based on examples of a single winner election, not several people. It also goes onto state that all voting systems are flawed. Try harder attempting to turn opinion into facts next time. Approval voting is still flawed for multiple winner elections too. I've conclusively shown how a small amount of stakeholders can determine the outcome of the majority of the delegate elections. Everybody should ask themselves why wasn't a fair voting system implemented which only allowed one vote per stake instead of "approval" voting which allows one vote per stake for each and every delegate election? currently 216 forgers independently operating on the NXT network[/url].
Lol, what a distortion of reality. You have the equivalent of a DPoS network of 20 people in that, while the rest are people who get blocks so infrequently they don't even matter because like I said earlier: All that matters is how often the top block producers are validating blocks in relation to each other. The further time goes by, the more that mining pool chart will look like the current Bitcoin pool chart as well. The whole reason approval voting was chosen was so that Stan, Dan, and a select group of manipulators could effectively rig all the delegate elections so they can control the entire network. I highly suspect that almost all of the delegates are under the influence of these said manipulators. DPoS has the equivalent of one PoW pool. NXT will get more and more block producers as time goes on and the percentage of blocks produced by each individual will diminish the more the currency is distributed. But let's get to the real point of why you do so much NXT shilling:  I'm not any of those people on NXT's forums. TF is already implemented except for economic clustering. Economic clustering isn't needed now because the network tps isn't high enough. Just like DPoS isn't needed because your network tps isn't high enough but you insist on implementing it anyway and the only rational conclusion one can draw is that it was implemented to centralize PoS. None of this really matters anyway. Nobody with any common sense will use bitshares because it requires 300% collateral and as Preston Byrne puts it: "These transactions make no commercial sense." I seem to have lost my bitcointalk login password, so can someone please cross-post this for me. Thanks.
Like anybody really believes that. You just don't want to come on this forum and be confronted with questions you don't want to answer. |
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With DPoS, you only have to convince others to vote you in. correct DE. User control over miners and developers coupled with the freedom to join or leave the network at your own freewill is what makes BitShares unique
You may have "freewill" to join in or abstain from the delegate election process, but you can't claim that it's fair. |
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