Fobcoin should trade BTSX and BitUSD.

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.

I expect Litecoin to lose the #2 spot in a matter of hours or days to Bitshares. When that happens watch how Litecoin early adopters panic sell and buy Bitshares pushing the market cap up even more.

Innovation is what rules along with community. Litecoin has community but gave up on innovation and the rule is innovate or die.

The honest truth is it most definitely is and so is Mastercoin.
But Counterparty has almost no marketing budget, and may not be able to find their niche.

Ripple and Stellar can most things better than Counterparty right now so Counterparty needs a niche.

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.

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.

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.

I would say the trading pair helps NXT whales hedge themselves by getting some BTSX.

lmao this is going to be a priceless quote going into the future to become the meme to refute the 'price doesn't matter' crowd.

I agree. Bitshares is a good investment. It's got the technology to provide massive amounts of utility. It can do polymorphic market pegged assets and has some exclusive features which no other crypto-equity platform has.

Also it's actually deflationary. The longer you hold the more what you hold is worth because transaction fees get burned. It's pretty cheap right now because not a lot of people know it exists and the market pegged asset feature isn't in place yet so if you want cheap shares now might be a good time to get them.

Polymorphic digital assets are an exclusive feature and a game changer.

Get ready for the price spike. All the naysayers are going to have a change of heart once they try it.

We should all do something to make DOLP successful. How can we add value with projects of our own?

Okay Ill give it a try

And how does one "get on the list"? I followed instructions and was not put on the list. Scam from my perspective.

They also kept changing the rules in the middle of the game. If you're going to do an airdrop it could have been done better than this.

It's dead and likely a scam too. I didn't receive any airdrop.

It's a shame because it's really a good concept.

How do you become qualified to solve something without solving it? Have you solved it? I assume when you talk about qualified you're talking about Peter Todd and Gavin Anddressen?

https://bitcoinfoundation.org/2014/06/13/centralized-mining/
http://www.reddit.com/r/Bitcoin/comments/281ftd/why_i_just_sold_50_of_my_bitcoins_ghashio/

I've made my position on the GHashio and Bitcoin design problems known. If you think I'm unqualified to speak then please ignore everything I've said and continue acting on the information you believe to be correct.

For the record it's true I was involved with Mastercoin from the beginning, am involved with Bitshares too. I'm not panicking, I'm promoting whatever I think the best technological solutions are and to me there is DPoS, CPoS, and Transparent Forging.  If you understand the technology enough then you'll understand why I think that at a later date.

If no one agrees with my opinions I don't really care. I'm putting it out there because the flaws I see in Bitcoin aren't being fixed and I suspect that it needs to be hard forked just to implement CPoS. I wanted to voice my opinion in favor of a hard fork because at this point Bitcoin is promoting a level of centralization which I'm uncomfortable with because it goes against the long term strategic technological principles that I follow.


Don't take it from me, do your own research and form your own opinion. Google is your friend here.

I voiced my concerns because they are genuine concerns. I'm seeing increasing levels of centralization around mining. I'm seeing mining which was once a serious game which anyone had the opportunity to play become something that over time the chip makers will be the only players qualified to profitably participate in.

This is a problem as it removes whatever democratic nature the network could have had. It also has many people claiming that the game is rigged/unfair because the only way to get a Bitcoin now is to buy it with cash. If you have to buy Bitcoins with cash then it has no advantage over Proof of Stake anymore that I can see.

These problems are just the philosophical surface issues I have with how things are playing out, there are some technical problems which are already well addressed by CPoS so I will not go into that.

It was avarice which allowed Mt Gox to grow like that. I'm not usually someone who speaks out against greed because greed can be channeled into good or bad purposes. When greed leads only to centralization without promoting technological progress then can we accept that it's being channeled to a bad cause?

Mt Gox was not producing technological innovation, it wasn't even trying to be the most regulated exchange, it was just a nest of greed heads who were clinging to an obsolete centralized exchange technology. Exchanges were falling left and right yet people still put their money into Mt Gox and many of them were some of the richest early adopters of the Bitcoin community.

When Mt Gox first started delaying withdraws nothing changed immediately. When Mt Gox first got hacked we heard the same sorta "stay calm" rhetoric. Why should I listen to you now? The security of Proof of Work was based on the premise that a 51% attack is not feasible. It's now proven that a 51% attack is feasible and while you can tell us that it can be patched or prevented it doesn't change the fact that the vulnerability is in the design of the Proof of Work incentive structure itself.

You're going to keep having these sorts of problems until a hard fork switches things over. A hard fork will be necessary because the elites of the PoW Blockchain hierarchy are not going to want to give up their power. Those who would willingly give up their power for the sake of technological progress are truly on the side of technological progress. A transition has to occur and at this point it is clear that Proof of Stake is a better design for long term sustainability both environmental and socially.
CPoS hasn't been tested yet, I'll give you that. NXT, Peercoin, Blackcoin, all are partially working. Bitshares is in the testing phase right now and DPoS, CPoS, are both similar in a lot of ways. When Bitcoin was being worked on no one was sure it could work but the people who took a chance were rewarded. It resulted in a great technological breakthrough and progress. We have to continue pushing for technological progress in my opinion.

I'm not telling anyone to sell all their Bitcoins for any specific technology. I'm saying we should promote technological progress at every opportunity. Bitcoin is proven to have vulnerabilities in the design of Proof of Work and Proof of Stake is an alternative which might be able to solve it. CPoS could work as intended and if it does then there will be no rational reason to stick with PoW except avarice.


The whole premise of this thread is that Bitcoin needs to be upgraded. A hard fork is a way to do that if the core developers and entrenched interests wont support the idea. Of course I would rather see the core developers and companies like BitFury get behind the idea. I would like to see these companies begin funding development, where is BitPay? Where is Coinbase?

But I'm skeptical that anything will happen until something dramatic causes people to act. So I'm not posting to promote any FUD, only to share my own stance which you asked me to clarify.

Bitcoin is not sustainable as a decentralized currency. Proof of Work does not and by design cannot scale until a day when each of us can make chips in our basement 3d printers. Since we aren't chip makers, the electric company, or the producers of hashing power, we must continuously buy or borrow hashing power from others. The producers of hashing power control the SHA-256 Proof of Work technology and with it they have obtained the ability to 51% attack. Due to the economics the pyramid can be expected to continue to become more steep over time as control winds up in fewer hands.

The 51% attack which happened this week is a warning sign to anyone paying attention. It's a red flag exactly like what we saw when Mt Gox was not processing withdraws. The time to push for a hard fork is right now because Proof of Work as Bitcoin is implementing it is obsolete. It's an incomplete solution compared to a more complete solution such as the Cooperative Proof-of-Stake CPoS or Delegative Proof of Stake DPoS. NXT has a solution as well and the specific challenge we have is to promote the best technologies even when it might not be in the best economic interests of entrenched elites of Proof of Work Blockchain hierarchies.

They got in their positions because they chose the most advanced technology and I don't see why they should entitled to keep their leadership position if they do not consistently choose the best technology. Progress should be more important than whether or not some miners can get rich. If I were them I would pull some of my money out of Bitcoin and put it into Proof of Stake or I would fund the development of CPoS to support the hard fork of Bitcoin.

I make this post to go on record that I'm in favor of a hard fork of Bitcoin. The core devs and culture surrounding Bitcoin have allowed a 51% attack to occur, MtGox to become centralized, fail, and generate months of bad press, and refuse to switch out of SHA-256 and on to another hashing algorithm or at least Proof of Stake.

Other developers have been warning them, people were warned about MtGox, nothing changes. Instead excuses are constantly being made for increasing centralization. Every month we look and see more signs of centralization.

Either Bitcoin must be hard forked or I'll be using something else like NXT or Bitshares.