What intrinsic value does a stock give me?  At least decades ago it used to be all paper and you could burn the paper for heat or worse case scenario consume it if there was no food nearby. 

After all do you know what paper money actually is?  It is Federal Reserve exchange notes, not much different in principle from a lot of stocks out there (especially those that don't issue dividend).


That's a rhetorical answer of course.  Most of the things in our society are technically ponzi schemes based on the scarcity principle.  

Oh sure.  I see the rhetoric here.  Yeah don't listen to ChuckOne or TaunSew, sell your house and put it into BitShares.  Get all yo gold and put it into BitShares, this thing is gonna hit $1 trillion in the next 30 days!  Buy now it just went up another 10% in the last minute!!

 Most people have nothing to gain from buying what is obviously a speculative hype bubble at the top of it.  You don't know $hit anymore then I do as bitAssets isn't released until monday.

This is the same 'tard speculative buy that happens in every alternate each time there's 'good news'.

 Dogecoin went up because they sponsored a bunch of Jamaicans at the Olympics and it was all internal users (existing users) buying into what they felt would be subsequent users racing in to buy Doge at a premium  This BitsharesX stuff is no different.  There's more speculators than users in this current market and when the speculator bubble pops there's often a huge correction.

Dot.com ended because it theoretically hit the limit that subsequent buyers were unwilling to continue the bubble, especially with all the scams that were ongoing at the time.

  All you had to do was label a stock "IT" or dot something and people would pump it to millions, even if the company had nothing substantiated.


Thing is cryptos is only $7 billion or so at the moment.  No one would be bothering with alternates and the government wouldn't be drafting laws or overhauling the tax code if people thought the limit was $10 billion.  Cryptos are going to $trillions whether this takes 5 or 10 years.

The distribution was of a different scale but there were whales in both Angelshares and PTS and they were transferred over to BTSx.  Much like there are buy threads where people have bought 3%+ of BTSx.

It's irrelevant if a distribution is 75 or 500 as a coin isn't killed by its' scale of users but whether how many whales there are and how much confidence they have in a coin and if there is enough subsequent buyers to buy them out when they dump.  I don't see that being the case here as the main reason for huge BTSx volume is a combination of Chinese funds (there's posts on BTSx proving it) and possible manipulation by the exchanges.

That means the funds are either going to dump as soon as they realize enough profit or the lack of subsequent volume will drive prices down as there'll be no more premium buyers.


BTW - NXT was $90 million in early June and had similar volume.  

That wasn't really my point.  I know that most of NXT volume is Chinese too but not to the same extent.  Maybe only $10K - $15K is non-Chinese volume as of today at $57K volume.

When the Chinese are spending like $2+ million volume on Bitshares (while non-Chinese is like $10K-$15K), it makes us wonder if this is all manipulation or a lot of future Chinese bagholders.

4/5+ of biTshares' volume comes from Chinese exchanges. 

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

Actually it's less than that if we look at top 5 (Poloniex is only $14K versus $2+ million).  Practically all the Bitshare trading is done on Chinese exchanges which are alleged to engage in manipulation.

Yes.  It has been "alleged" (there may be evidence somewhere going back page 30+) that the Chinese exchanges engage in fractional reserves and can create fake volume out of thin air.  That isn't me who has been spreading those rumours - those rumours have persisted on BTT for awhile and it's likely been proven several times over but the answer is likely buried somewhere in the backpages.

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

Take away the Chinese exchanges and there isn't really any much volume to BiTshares.  The same is true for NXT where maybe only $13K~ish is non-Chinese exchanges.

Because this is sustainable, right?  After all the Chinese loved Bitcoin in December and yet... wait..

It's already being listed on coinmarketcap.  Not sure what is being listed but there's a coin with that name.

Lol so it's a classic hype buy before an actual feature is implemented.

In before people realized it's just NXT's asset exchange with a few Yahoo updates and a broken collateral system.     Never mind all the whales who plan on dumping as soon as they realize any profit.

What happens?  He makes a post: "You dun understand how Bitshares werks"

It is the ad Hominem or Ad Hominemous chain within Bitshares X, proprietary technology.

Right.  Because it's impossible for NXT or any other asset exchange to add in real time tracking, right?  What sorcery does Bitshares X have to patch in a number reports from Yahoo or whatever the source is?
 
This thing is pretty much NXT's asset exchange with a few extra added ribbons to it.

I can create my own asset on Bitshares call "BitUsd", sell a million of that for... $1 million real USD and profit.

Qora coin now has Bitassets.  NAS coin can have their own bitassets too.

Yeah especially if there are whales present.  Look at at how fickle most coins can be if just one whale dumps half their stash.  Hell Ethereum sent BTC down $50 just by dumping 3000 BTC in less than a week and the bots / scrypts ate that up.

It has doubled in like a day and a half from $20 million to $40 million.

The other guy is correct, no point in buying now as the whales could dump now (or dump at $80 million - why risk real world $Fiat for a slim chance to see 2x-3x return.  I say slim because they can dump and crash it and then you'll lose money).

BTW - buying in with 1000s of BTC doesn't make any sense in an anti-whale thesis, people did that with Mastercoin and Maidsafe and neither coin went anywhere in the long run (neither did other coins that were pumped with huge amounts of BTC)

So in other words there's already whales in BitShares X and they'll dump the second they think it stops going up?  That's reassuring.. (don't say it isn't the case because clearly it is).

When is for awhile?  Other then commenting on the Ethereum-Bitshares relationship, I've made almost no posts about it.

All I see in BitAssets is something that looks like it was copied from NXT's asset exchange.  The current capitalization growth for Bitshares X looks like a hype buy and there's no ROI due to $40+ million capitalization.  Beating NXT is easy but no proof it'll take on LTC.  Anyone who buys Bitshares X at the moment is likely going to end up as a bagholder.

What is the distribution of Bitshares X?  Never saw a link explaining it yet. 

I'm somewhat skeptical as Quark Coin accomplished the same thing, getting a few celebrities and rich fund types to throw their money in, but the capitalization bubble wasn't sustained due to a lack of subsequent buyers.  Similar things happened to Mastercoin and such.

If we ignore all the 'tards and trolls - this is essentially the main downside to NXT.  Each time NXT goes through a rebound the whales start dumping as per typical pump and dump cycles (price rebounds are considered the only time you can dump without potentially killing off the coin).   Considering the number of NXT whales it could take year(s) to clear their holdings and to grow capitalization.

Things are further complicated by the asset exchange where there's a lot of huge capitalization assets (100+ million NXT) which if their volume were to skyrocket then in essence more whales are created and it only adds to the time it'll take to clear the whales.