BitShares scam2.0, Still scamming

[StanLarimer]

At this point the last thing you can call Bitshares is communist.

The new idea over there is to divide the value proposition Bitshares brings to the table into different pieces and auction them off the highest bidder. Looks like most of the community is getting behind it.

This project has real potential to subvert TPTB and their economic stranglehold, but instead seems to be trying to emulate them.

https://bitsharestalk.org/index.php/topic,20205
https://bitsharestalk.org/index.php/topic,20207.0/all.html
https://bitsharestalk.org/index.php/topic,20286.0/all.html

I am supremely disappointed. If there's a dire need for funding I would gladly take dilution over this any day of the week. It's still a cool project for what it is though.

Well, the nice thing is that many new options are being discussed and everyone is contributing to the gene pool of ideas.

How can you be disappointed about new entrepreneurs using the flexibility of BitShares to explore new business models - ways to get new features funded that otherwise would not be funded and ways for small players (investors and developers) to make their own contributions and be rewarded for it?

Are you suggesting that some Central Power ought to be stomping out all this renaissance of innovation?

[Newmine]

.... warning... we interrupt your normal programming tonight to inform you of breaking news on the bitcointalk forums .... this is not a test....

A few smart Bitcointalk users have discovered that in most cases people do not work for free so that other random strangers over the internet can profit from their work. Furthermore, they have also discovered that people whom are smart enough to develop their own cryptocurrency with bleeding edge features from scratch are not cheap to hire. This is certainly a ground breaking discovery and we will keep you posted on the details of this discovery as it develops.

..... We now return you to the normally scheduled programming for this hour titled "puppets and shills who are too scared to post under their real usernames that certainly have no ulterior motives" ......

This just in........................

They already took MILLIONS of dollars from users and promised to deliver a product for those Users.

Remember, they were the ones that cut off BTS investment to begin with on Feb 28th 2014. They were the ones who stopped collecting AGS. They did that because they collected a shit ton of BTC and PTS that would more than cover what they were trying to do. This was most likely during a time when they weren't particularly intending on scamming. Once they saw the money, cha-ching, they spent it flying across the country and to the Caribbean and realized they needed wanted more. The only way to do this was to pivot the project in unnecessary directions stagnating development, alienating the old original users, and sucking in noobs with dreams of the BTC lottery windfall from November 2013. There is a reason that every 6 months they changed the project in ways that would benefit them and hurt the investors. And everytime they promised the sky and delivered half a turd.

"Now if that's a fact, tell me, am I lying?"

[DecentralizeEconomics]

This was most likely during a time when they weren't particularly intending on scamming.

They planned it from the beginning.  They always planned it from the beginning.

[StanLarimer]

We have spent far more on BitShares than we raised, but we finally achieved our goal - like you said, "as promised from the beginning":

BitShares has been turned over to its owners who are free to explore all sorts of exciting new ways to grow their business.  We are still available to provide support, but they make the decisions about what gets done.  Two other companies have announced their availability as developers so BitShares is no longer dependent only on us.  That means we can be fired if the owners aren't happy.

There are now several ways BitShares the Unmanned Company can raise funds to keep adding polish and features:

1.  The referral program encourages entrepreneurs to add features that attract new users.  Entrepreneurs who use this method are eligible to keep 80% of the revenues from the new users they bring in.  The business they grow is the business they own - and for this the BitSharesholders charge 20% for maintaining the world's most cost effective blockchain platform.

2.  The new Fee Backed Assets allow an entrepreneur to add a new feature and have 80% of its fees automatically routed to them and/or to the folks who paid for it's development.  The other 20%, once again, go to the BitSharesholders' Reserve Pool (i.e. the company savings account).  Fee Backed Assets then trade like any other asset, giving their holders a share of the revenue earned by the feature(s) they helped to build.

3.  If there is a feature everyone wants for the General Good, BitSharesholders can vote to take it out of a blockchain-controlled Reserve Pool.  All blockchain revenue goes into this pool (and out of circulation) increasing the value of the remaining shares.  So far, this pool of savings has been growing since 2.0 was released, meaning the BitShares is now a profitable enterprise.

Just like we planned from the beginning.

[Newmine]

Well, they are at it again and again and again. The only thing they seem to be consistent in is trying to pilfer more money off their delusional base.

They asked for $45K in cash to implement "stealth transfers" in BTS 2.0. Some poor schmuck over there decided he would give them $45K of his own money if he could recoup it in stealth transfer fee. (Although I suspect it may be a rouse. They have some "plant" offer up his money in hopes that it "inspires" the people with actual money to hand it over.)

Now they are asking for $70K per month, PER MONTH to finish the decentralized exchange. For those of you who don't know Bitshares was sold as a decentralized exchange over two years ago to original investors who gave them Millions of dollars. They are now holding the original idea hostage to get more money. These fucking guys are amazing.

https://bitsharestalk.org/index.php/topic,20827.0.html

[CoinHoarder]

Well, they are at it again and again and again. The only thing they seem to be consistent in is trying to pilfer more money off their delusional base.

They asked for $45K in cash to implement "stealth transfers" in BTS 2.0. Some poor schmuck over there decided he would give them $45K of his own money if he could recoup it in stealth transfer fee. (Although I suspect it may be a rouse. They have some "plant" offer up his money in hopes that it "inspires" the people with actual money to hand it over.)

Now they are asking for $70K per month, PER MONTH to finish the decentralized exchange. For those of you who don't know Bitshares was sold as a decentralized exchange over two years ago to original investors who gave them Millions of dollars. They are now holding the original idea hostage to get more money. These fucking guys are amazing.

https://bitsharestalk.org/index.php/topic,20827.0.html

... Bytemaster's post clearly says $30k a month, and that is for 4 quality developers that all work together in close quarters (in-person in the same office with office expenses.) Bytemaster has proven he can deliver. We could probably pay a different developer less, but the outcome would be unknown and it might end up being money burned. The Bitshares community trusts Bytemaster to deliver, so his time is worth more than any random developer we'd hire over the internet. He also already knows the codebase and is THE Bitshares source code expert because he wrote the damn thing. He deserves to be more expensive than other developers because his experience and knowledge is worth more.

Admittedly, the $45k FBA (fee backed asset... a new innovation in Bitsharesland) to implement stealth transfers is a risky investment. It also could very well pay off huge for onceuponatime, and is an awesome new way to fund features that no cryptocurrency has tried before. 80% of the Stealth transfer fee will be paid to him for eternity... that could end up being very lucrative depending on the success of Bitshares. I personally love it because it is a way of funding new development initiatives while adding value to BTS tokens at the same time with the added utility/features. It is admittedly a controversial feature.. not everyone loves it, but since when has Bitshares walked the path of conformity?

[CoinHoarder]

.... warning... we interrupt your normal programming tonight to inform you of breaking news on the bitcointalk forums .... this is not a test....

A few smart Bitcointalk users have discovered that in most cases people do not work for free so that other random strangers over the internet can profit from their work. Furthermore, they have also discovered that people whom are smart enough to develop their own cryptocurrency with bleeding edge features from scratch are not cheap to hire. This is certainly a ground breaking discovery and we will keep you posted on the details of this discovery as it develops.

..... We now return you to the normally scheduled programming for this hour titled "puppets and shills who are too scared to post under their real usernames that certainly have no ulterior motives" ......

This just in........................

They already took MILLIONS of dollars from users and promised to deliver a product for those Users.

And they have more than delivered.. have you even seen the Bitshares 2.0... jeez... here is a hosted version so you can see for yourself how great it is: https://bitshares.openledger.info/

Remember, they were the ones that cut off BTS investment to begin with on Feb 28th 2014. They were the ones who stopped collecting AGS. They did that because they collected a shit ton of BTC and PTS that would more than cover what they were trying to do. This was most likely during a time when they weren't particularly intending on scamming.

There was plenty of time to invest in Bitshares early. There was PTS and then there was AGS. If you didn't invest in mining PTS (the mining portion of the ICO) or AGS (the fundraising part of the ICO) because you didn't see the value in the project or didn't want to take the risk, then whose fault is that really? Everyone was on equal playing grounds as far as the Larimers or anyone else investing in Bitshares early. Obviously, Stan and Dan knew their intentions of delivering and Dan's capabilities so the invested more than your average investor. However, they had to raise and/or put in money just like everyone else and did not receive any special multipliers or anything. It was a fair ICO, so I'm not sure what you're getting at here.

Once they saw the money, cha-ching, they spent it flying across the country and to the Caribbean and realized they needed wanted more.

This is not true, they have developed the heck out of Bitshares. Bitshares 2.0 is wonderful compared to Bitshares 1.0 which was pretty much an alpha release.

The only way to do this was to pivot the project in unnecessary directions stagnating development, alienating the old original users, and sucking in noobs with dreams of the BTC lottery windfall from November 2013. There is a reason that every 6 months they changed the project in ways that would benefit them and hurt the investors.

They are trying to stay ahead in the cryptocurrency wars. Right now they are a successful project... a top 10 market cap ALT coin. They want to stay that way, and so do shareholders. This is why shareholders are investing in improving Bitshares 2.0 as it exists today, because they (along with BM and company) want to stay ahead of the competition.

And everytime they promised the sky and delivered half a turd.

"Now if that's a fact, tell me, am I lying?"

If Bitshares 2.0 is "delivering half a turd" to you then I don't know what to say, you are not the brightest crayon in the box, lying (... you asked me to tell you ...), or delusional.

@ your OP... they decided eventually to release Bitshares 2.0 under the MIT license, so basically your whole OP is rubbish now.

[fortaleza]

For those of you who don't know Bitshares was sold as a decentralized exchange over two years ago to original investors who gave them Millions of dollars. They are now holding the original idea hostage to get more money. These fucking guys are amazing.

If you can be more efficient with "millions of dollars" than those "fucking guys" and once your initial funds dry up you are willing to fund it with your own money - I'll be happy to invest in your project.
If not - you are just being a meaningless smart ass.

[DecentralizeEconomics]

Well, they are at it again and again and again. The only thing they seem to be consistent in is trying to pilfer more money off their delusional base.

They asked for $45K in cash to implement "stealth transfers" in BTS 2.0. Some poor schmuck over there decided he would give them $45K of his own money if he could recoup it in stealth transfer fee. (Although I suspect it may be a rouse. They have some "plant" offer up his money in hopes that it "inspires" the people with actual money to hand it over.)

LOL.  The level of gullibility over there is unbelievable.  I'm sure it's an absolute hayday over there for the Larimer Gang robbing these mental midgets day in and day out that they like to call "investors".  I know that it's hard to imagine that anybody could really be this stupid and that this has to be another one of their rouses, but keep in mind that the intelligence quotient over there is sub-zero.

@ your OP... they decided eventually to release Bitshares 2.0 under the MIT license, so basically your whole OP is rubbish now.

Yeah, I guess that scam was so obvious that they had to obscure it by releasing the code as "open source".  What a crock.  The fact remains that Cryptonomex Inc is actively attempting to sell their "product" to third-parties which will cut out all current Bitshares' investors.  Think about geniuses... If they are able to convince a company with greater liquidity than Bitsnares to have their own USD chain who is going to end up the winner?  The company with liquidity and money for marketing or the poor schmucks who just bought the Larimer Gang / Chicoms last Bitsnare?

[Spoetnik]

At this point the last thing you can call Bitshares is communist.

The new idea over there is to divide the value proposition Bitshares brings to the table into different pieces and auction them off the highest bidder. Looks like most of the community is getting behind it.

This project has real potential to subvert TPTB and their economic stranglehold, but instead seems to be trying to emulate them.

https://bitsharestalk.org/index.php/topic,20205
https://bitsharestalk.org/index.php/topic,20207.0/all.html
https://bitsharestalk.org/index.php/topic,20286.0/all.html

I am supremely disappointed. If there's a dire need for funding I would gladly take dilution over this any day of the week. It's still a cool project for what it is though.

Well, the nice thing is that many new options are being discussed and everyone is contributing to the gene pool of ideas.

How can you be disappointed about new entrepreneurs using the flexibility of BitShares to explore new business models - ways to get new features funded that otherwise would not be funded and ways for small players (investors and developers) to make their own contributions and be rewarded for it?

Are you suggesting that some Central Power ought to be stomping out all this renaissance of innovation?

What happened with Memory Coin ?

The central authority on the "decentralized" altcoin lost majority control and cancelled the coin project.
You guys are more than happy to chant on while YOU control the strings being pulled.
And once you lose control you will change the coin or cancel the project.
Oh so "Decentralized" hahah

Crypto-Amnesia is a bitch huh ? LOL

Confuse the fucking shit out of the poor noobs itching to spend their Bitcoin on the next 2.0 shit coin with tech jargon.
Bitshares ???

At what point do you confuse and glut the market so bad with endless spin off's that the people just turns their back ?

[testz]

What happened with Memory Coin ?

MemoryCoin was designed and developed by FreeTrade so we should ask him.

PS: FreeTrade was contractor for BitShares-PTS (aka Protoshares) wallet release.

[Spoetnik]

What happened with Memory Coin ?

MemoryCoin was designed and developed by FreeTrade so we should ask him.

PS: FreeTrade was contractor for BitShares-PTS (aka Protoshares) wallet release.

That doesn't matter thought does it.. read what i said.

It's not about some guy.. it's about the broken record on play still.

[tokeweed]

What happened with Memory Coin ?

MemoryCoin was designed and developed by FreeTrade so we should ask him.

PS: FreeTrade was contractor for BitShares-PTS (aka Protoshares) wallet release.

That doesn't matter thought does it.. read what i said.

It's not about some guy.. it's about the broken record on play still.

Testz, you know deep in your heart the Larimers over did it by taking advantage of the Bitshares community too much. Or are you really a part of it...

[ridery99]

Yes keep "investing" in altcoins

[testz]

What happened with Memory Coin ?

MemoryCoin was designed and developed by FreeTrade so we should ask him.

PS: FreeTrade was contractor for BitShares-PTS (aka Protoshares) wallet release.

That doesn't matter thought does it.. read what i said.

It's not about some guy.. it's about the broken record on play still.

Testz, you know deep in your heart the Larimers over did it by taking advantage of the Bitshares community too much. Or are you really a part of it...

I know exactly that Larimers not connected to MemoryCoin and this is what I'm trying to say.

[sofu]

RIP Shares got dumped safely again.



Damn dat shit created so much bagholders in the last year 

[DecentralizeEconomics]

RIP Shares got dumped safely again.



Damn dat shit created so much bagholders in the last year 

[sofu]

I guess DE won  

[DecentralizeEconomics]

I guess DE won  

[stanslittlebro]

The business they grow is the business they own - and for this the BitSharesholders charge 20% for maintaining the world's most cost effective blockchain platform.

For business

Paypal is cheaper
MoneyGram is cheaper
WesterUnion is cheaper
Neteller is cheaper
Skrill is cheaper
2C2P is cheaper
Adyen is cheaper
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2.  The new Fee Backed Assets allow an entrepreneur to add a new feature and have 80% of its fees automatically routed to them and/or to the folks who paid for it's development.  The other 20%, once again, go to the BitSharesholders' Reserve Pool (i.e. the company savings account).  Fee Backed Assets then trade like any other asset, giving their holders a share of the revenue earned by the feature(s) they helped to build.

You know you only attract idiots and scammers with this bullshit