BitShares coinmarketcap volume is artificial

[brekyrself]

Dude, if I spend $250 for a MSFT delta .50 ATM call option contract, that $250 nor does the 100 shares involved in the contract are reflected in the underlying Volume. It is counted as a separate volume. bitUSD is a derivative of BTS, you need BTS to create it and then to buy it. It doesn't represent a flow of money in or out of the BTS system.

The reason he thinks the way he does is because he fundamentally doesn't understand the difference between a "derivative" and an "asset".  This proves that the majority of people who use Bitshares don't really understand the underlying system.  There are NO ASSETS in Bitshares.  You are buying derivatives contracts that can only be settled in Bitshares and have absolutely no connection to the real assets they are supposed to represent.  Why don't I just start writing "One Million Dollars of Pure Gold" on pieces of paper and start selling them for one million dollars without any type of backing, gold reserves or means of physical settlement?  This is one of the most ridiculous wealth creation schemes I have ever seen.

Imo, those who are behind Bitshares and do understand their system intentionally mislead those less knowledgeable by advertising that you can trade USD, EUR, Gold, Silver, Oil, etc.  Uninformed people think they are actually buying the asset and that it is "Safer than a Swiss Bank account".  Imo, this is highly unethical.

I thought the point was to move away from centralized exchanges...

You do realize what you are exchanging is worthless right?  When people catch on that "bitUSD" has absolutely no backing and stop submitting buy orders what do you think is going to happen?  The peg will fail and the market will collapse.  All these "bitAssets" will only hold their peg as long as investors submit to the "greater fool theory" that buying a "bitAsset" @ less than the market price for the real asset is a good investment even though they are intrinsically worthless because they have none of the attributes of the actual asset and all of the assets in the system ARE NOT REDEEMABLE!  Bitshares is basically a giant suckers game which will end in tears for those who can least afford to be fooled.  Bitshares hasn't created a "decentralized exchange" as they love to claim because they aren't really trading the actual asset.

The point of crypto is to create a decentralized system which liberates the common man from the corporatized economic system which enslaves him.  Bitshares has just created a system which is a replica of the current system on the blockchain.  The common man still doesn't have any real wealth just faux "bitAssets".

DecentralizeEconomics:

Is there something you could change to "fix" BitShares?  Can you get more technical on the assets part?  I see that the BitAssets are backed back 200-300% bitshares at all times and shorts can be margin called if required to keep the system above water.

Thinking at a very high level I can see endless business uses on the international scale however please elaborate on why the specific system will not work?

[StanLarimer]

Actually, BitShares uses nothing but common concepts used in financial markets every day. Investors find the ability to short an asset with automatic margin calls a very familiar financial tool.

Most money is put into circulation by banks only partially backed by bankster-owned debt.
BitAssets are backed by triple-reserve collateral enforced by incorruptible blockchain rules.

We just moved the backing from corruptible bankster assets to the blockchain where the transparent public ledger and open source code are able to enforce the rules incorruptibly.

Obviously, BitShares has been subject to intense inspection for nearly two years now.  It works.

As for what sorts of things a blockchain may be good for... it will find applications for everything from fully decentralized and autonomous sovereign entities to fully centralized traditional companies who merely want to be transparent.  No single philosophy owns the technology and we will see it appearing in many forms - all working to battle corruption.  

Investors should ask whether any such entity is able to generate a profit and grow in value as demand for its services increases.  Philosophers can select how much their philosophies should influence their investment decisions.  There are choices for all tastes.

Battling corruption in all its forms is the key.
Those who are not against that, are with us!

You need to think BIGGER, Pinky!

[bitcreditscc]

Actually, BitShares uses nothing but common concepts used in financial markets every day. Investors find the ability to short an asset with automatic margin calls a very familiar financial tool.

Most money is put into circulation by banks only partially backed by bankster-owned debt.
BitAssets are backed by triple-reserve collateral enforced by incorruptible blockchain rules.

We just moved the backing from corruptible bankster assets to the blockchain where the transparent public ledger and open source code are able to enforce the rules incorruptibly.

Obviously, BitShares has been subject to intense inspection for nearly two years now.  It works.

As for what sorts of things a blockchain may be good for... it will find applications for everything from fully decentralized and autonomous sovereign entities to fully centralized traditional companies who merely want to be transparent.  No single philosophy owns the technology and we will see it appearing in many forms - all working to battle corruption.  

Investors should ask whether any such entity is able to generate a profit and grow in value as demand for its services increases.  Philosophers can select how much their philosophies should influence their investment decisions.  There are choices for all tastes.

Battling corruption in all its forms is the key.
Those who are not against that, are with us!

You need to think BIGGER, Pinky!

You are no different from said banksters because you people have the habit of "printing" money as required.
You have diluted the investment of your supporters repeatedly in an effort to transfer value from their investment to your own pockets.
You pay each other disproportionate salaries at the expense of users, in fact they are not users anymore, you are the users and they are the used.
You say that BTS has been inspected and proven, but your responses are very sly, misleading and do not address the issues at hand. leading me there is more to this than meets the eye.
You are not battling corruption, you just found  a new way to instigate it.
 

You almost had me convinced, but i played catch up on your forum, no ... this is rotten.

[bitcreditscc]

SO MUCH POST HERE

 i didn't really get it except the image at the bottom.

[DecentralizeEconomics]

You need to think BIGGER, Pinky!

Stan, maybe you could answer a question for me that I've been having trouble with...  Between you and Dan, which one of you is supposed to be "The Brain"?  Hahaha