BitShares - why has it dropped like a rock

[brekyrself]

(1) margins called
(2) BTC rise
(3) shakey release
(4) poor UI / not intuitive to use
(5) philosophically, very complex to the average guy or gal
(6) sharks that don't give a fuck about tech, and will eat you

I'm almost about to cut the losses as BTC will be growing over the next 4 months, I'm usually wrong so you should buy, hold, sell or do nothing.

#5 especially.  This is going to take awhile for people to comprehend all the ins and outs.  Much more in depth compared with btc's simple wallet of sending and receiving.  Ability to have exchanges order books built into the BTS ecosystem, crazy.  Market pegged assets, UIA, referral system, witnesses, workers, hosted wallets, lite wallets, information overload.

Getting into BTS and holding some now is not a bad idea.  Trading volume is decent thus you could always get out of your position later on.

[Spoetnik]

this guy / coin is linked to Protoshares (PTS)
so i have a problem with this.. not just because it's a heap of crap technically
but because of the track record of the dev.. he thinks he is squeaky clean around here
but i busted him open like a can of Apple Sauce way back LOL

The guy that made Memory coin (which is full of scammy antics)
Launched PTS (Protoshares) ..when he posted an ANN topic i kept asking..
So what are you going to do about Memory Coin ?
I was ignored at first, blatantly which is dumb because it's a fair question if some "Dev" keeps rolling out coins..
So after 10 pages on the ANN of NOBODY caring at all about the dev's track record or even asking any questions
aside from "where is the windows QT ?"
i ended up getting a pseudo professional crafted response from dev man and attacked from his shills and dummy accounts
(Note: Dev's wised up long ago and realized you should create 100 spare accounts for flaming on Bitcointalk to avoid being held responsible)
He kept playing dumb and then i kept getting attacked for a while then out of the blue.. he pulled a stunt that really threw me for a loop..
He promptly edited the topic ANN title to say something like [From Invictus-Innovations Inc.]
then FreeTrade the memorycoin dev posted back to me on the PTS topic that he had nothing to do with making the coin at all
the only thing he did was post the topic he said LOL  
So believe him ?
Why would that info be absent 101% on launch for the first 10 or 15 pages ?
Why was there never EVER any mention of this company until i pushed for an answer ?
Seemed a mighty convenient way to distance himself from a bad track record and get a clean slate now don't ya think guys ? ahahhah
I think he lied.. straight up !
I don't believe that crap for one second.. YOU all apparently did (or never bothered to read the first few pages of the ANN topic)
Hey.. i know your all busy why read ANY part of the ANN topic right ? Your busy.. where is teh damn Windows QT !!!11111ONE liek OMG!
so..
From that point on he is clearly linked to ALL this Bitshares crap..
and WOW good god is he persistent LOL
I watched him push that crap here non stop 24/7 for a couple years.. that is dedication to a scam guys AHHAHAH

You know guys there is no one to fault but yourselves if you get burned because information is posted publicly as a warning for all to see.
All you have to is.. DO YOUR HOMEWORK (before spending your money on ponzi tokens)
But wait.. sorry i forgot you guys don't care if something is scammy because you will say..
But, but, but i made 6 Bitcoin on Scam Coin v2.0
and i know that because old members in the scene said that to me endlessly on Chat box's last few years.
You guys actually admit it LOL
You support scammers so you can make money ? then i hope you guys lose your money in the end..
People like that are a cancer to crypto.. the greedy selfish ponzi coin buyers and their pushers.
And you guys will lose your money in the end too.. they will let ya make a few bucks so they can take it all later..
A classic scam ploy..
They are smarter than you greedy crap coin buyers and they have their own set of rules in crypto.
YOU WILL LOSE THE GAME ..trust me  

ANd don't even get me started on MemoryCoin    

[upsidedown75]

it is as every time. there is a big new coming up for a coin and the price goes up. then tech comes out and a big dump happens. you can see this pattern for a bunch of various coins out there.

[nomoreheroes7]

Agreed with everything r0ach has posted. Margin is killing the altcoin scene.

[DecentralizeEconomics]

And then of course, there is this:

https://bitsharestalk.org/index.php/topic,17354.0.html

What are Brownie Points Good for?

Technically all Brownie Points mean is that you are on my good side.  Brownie Points are not redeemable for anything and do not create any obligations between me and anyone else.   BROWNIE.PTS is a tool that allows me to keep track of everyone who is in my good favor and to what extent.   You will want to make sure you claim your BROWNIE.PTS because it would just be rude to refuse the BROWNIE.PTS and one day you may regret it; Karma can be a Bitch.       

No Obligations

BROWNIE.PTS is merely a tool for my own use and I may choose to stop issuing brownie points at any time for any reason.   I may reward them (or not) as I see fit, in the amounts I see fit, for the reasons I see fit.   I may also seize brownie points from any account if you fall out of favor and anyone who complains in any way about how Brownie Points are issued or how I use Brownie Points is certainly not in my favor and may lose any Brownie Points they have earned.   

And this:


https://bitsharestalk.org/index.php/topic,19042.msg244950.html#msg244950

I did not contact that particular exchange individually. 

We gave the whole world NOTICE 30 days in advance and made posts on the proper threads where all upgrade announcements are posted.

[translation:]
 How ​dare​ those impertinent imbeciles not​ follow our most generously timed proclamations!!

NO BROWNIE POINTS!!!


Meaning that Bitshares is nothing but an inherently flawed corporate token that is peddled by a bunch of really arrogant elitists.

In the Bitschares design, there are delegates, and there are lesser participants.

Which begs the question: Who are these anointed ones? And who anoints them?

[Scamlarimer]

http://s11.postimg.org/86ar3kidf/King_Brownie.jpg


100 Applesauce points, right atcha DE

[criptix]

Just the typical highly manipulated altcoin market multiplied by a factor of 10 because Bologniex allows leverage longs and shorts.  There's a group of Asians with around 500 btc who are always constantly pumping or shorting it and when they do, they remove or add 200+ btc buy support to the walls at the same time.  When they remove 200btc buy support, market usually just instantly crashes.  Pretty much any coin on Poloniex is a complete fugazi due to stuff like this.  They never should have added leveraged trading because none of these coins have liquidity to support it.

You can toss in a short then immediately remove 200btc buy support and just automatically get paid.  Other people are doing the same thing with even more float, up to 1000btc (cagara) which makes the alt market a complete joke now.  Poloniex thinks it's a great idea because they increase volume, but it will probably just kill off their entire user base.  If the risk is always way higher than the reward, people will just stop trading at all.

Didnt you call a hyper pump and made fun of a 100 btc short?

Or is alzheimer greeting?

[tokeweed]

Agreed with everything r0ach has posted. Margin is killing the altcoin scene.

Wrong.  Did margin trading kill Wallstreet?  He's just saying that because BTS was manipulated in the direction he did not like.  If it was manipulated to go up to .001, would you think he cared how it got there?

It's just a simple case of sour grapes.

[tokeweed]

the reason for the price drop is simple:

anybody who is trading BTS on Poloniex, and not Open Ledger (utilizes internal ex) is keeping the market thin and thus easy to manipulate and is directly pushing the price of BitShares down.  Those who say that they want the BTS price to rise, but trade on Poloniex are mathematically either selfish/greedy or stupid.

TLDR:  greed

It's greed that makes a stock, commodity, crypto, etc.. rise as well.  When something is traded in an open market, it will always play under the rules of supply and demand, bulls and bears, mania and fear, etc...  It's just how the game works.

Trading on Open Ledger won't make a difference.

[tat123]

Agreed with everything r0ach has posted. Margin is killing the altcoin scene.

Wrong.  Did margin trading kill Wallstreet?  He's just saying that because BTS was manipulated in the direction he did not like.  If it was manipulated to go up to .001, would you think he cared how it got there?

It's just a simple case of sour grapes.

 The lack of liquidity is killing alts on margin. They do not have enough support to battle the bears. Introducing it into immature markets is stupid. Everybody loves to short, but who likes to go long, when buy the news sell the whatever is the crypto ethos? Did margin kill Wallstreet? Of course it did. Removing Glass steagall and turning the banks into casinos sure didn't help. 7 years after the collapse, its worse than ever. But all is good, because the mother of Derivatives Blythe Masters is now into Blockchain Tech. Save us Wallstreet!

[tokeweed]

Wallstreet dead?  Lol.  They're making more money than ever.  Even if it crashes again, it will always continue and go back up again.  Trading has always been around.  It will not go away, hence open markets will not go away.  If you can't accept that downswings will always be a part of trading, don't play.

Do not blame external factors for your losses.  It was your decision to play a game you could lose and you took that risk.

[tat123]

Wallstreet dead?  Lol.  They're making more money than ever.  Even if it crashes again, it will always continue and go back up again.  Trading has always been around.  It will not go away, hence open markets will not go away.  If you can't aceept that downswings will always be a part of trading, don't play.

Do not blame external factors for your losses.  It was your decision to play a game you could lose and you took that risk.

China Officially Sold A Quarter Trillion Treasurys In The Past Year... does this sound like confidence?  The entire system is based on the US buying it own debt, which is monetization. Or is printing money and giving it to the banks ok with you? Can't export that inflation to China anymore... no worries. The middle class will absorb it with their shitty part time jobs. How did it work out in Japan? Zombie banks for 2 decades and over 300% debt to GDP. Dead... sorry. How about zombie?

As far as the downswings? I am a trader, so I love it. But there is a part of me that wants to see this space succeed. Just sayin these markets are not conducive to noobs.

[tokeweed]

Pffft.  We've seen every doomsday scenario all over the place for years and years.  But you know what, Wallstreet and the banksters always have an angle and always make money out of whatever doomsday scenario there is.  They could even make the US govt. to bail them out.

As for this 'space'.  It will succeed if it's good and ready.  If not, then it's a bit way ahead of its time.  I believe in crypto.  Not just for finance, but for everything.  Privacy, decentralized voting, etc..  It's the future.  But my point is don't blame your losses on others and or external factors when it was you who made a decision to take on a risk without assesing the situation well.  

[tat123]

Pffft.  We've seen every doomsday scenario all over the place for years and years.  But you know what, Wallstreet and the banksters always have an angle and always make money out of whatever doomsday scenario there is.  They could even make the US govt. to bail them out.

As for this 'space'.  It will succeed if it's good and ready.  If not, then it's a bit way ahead of its time.  I believe in crypto.  Not just for finance, but for everything.  Privacy, decentralized voting, etc..  It's the future.  But my point is don't blame your losses on others and or external factors when it was you who made a decision to take on a risk without assesing the situation well.  

Dude... what gives you the impression I have lost? I believe ETH, BTS, MAID, and a few others have a decent chance of succeeding in time, but I would never hodl them longer than a week or two. Why? Because like r0ach said... why support something when it's obvious the shorts are going to drive the price down again. There are always more haters, than supporters. FACT. It has nothing to do with bagholding, it's a commentary on the markets.

As far as doomsday is concerned... Since 2012, the Federal Reserve have been engaged in a pre-emptive war against financial risk, and other central banks are forced to follow suit in a self-reinforcing cycle of devaluation and a mad game of Prisoner’s Dilemma.

The prisoners’ dilemma is a classic story about how individually rational decisions can lead to a socially undesirable outcome.

Here’s the original story: There are two partners in crime who get arrested by the police. The DA visits each prisoner and says the following: "If you both stay quiet, we’ll convict each of you on a minor offense, and you’ll get a year in jail. If both of you confess, you’ll both get convicted and get 10 years in jail. If you confess and your buddy stays quiet, then you’ll go free, and he’ll go to jail for 15 years. And I’m making the very same offer to him." Imagine you’re one of the prisoners. It turns out that no matter what you think your partner’s going to do, it makes sense for you to confess. Why? Because if he’s staying quiet, you can avoid a year in jail by confessing. And if he’s confessing, you can reduce your sentence from 15 years to 10 years by confessing. So you decide to confess. Your partner, facing the same incentives, also confesses. So you both go to jail for 10 years, even though you’d both have been better off if you’d both stayed quiet.

Stop with the pejoritive responses of bagholder, and never lose what you can afford, and see what he is really talking about.

[tokeweed]

Pffft.  We've seen every doomsday scenario all over the place for years and years.  But you know what, Wallstreet and the banksters always have an angle and always make money out of whatever doomsday scenario there is.  They could even make the US govt. to bail them out.

As for this 'space'.  It will succeed if it's good and ready.  If not, then it's a bit way ahead of its time.  I believe in crypto.  Not just for finance, but for everything.  Privacy, decentralized voting, etc..  It's the future.  But my point is don't blame your losses on others and or external factors when it was you who made a decision to take on a risk without assesing the situation well.  

Dude... what gives you the impression I have lost? I believe ETH, BTS, MAID, and a few others have a decent chance of succeeding in time, but I would never hodl them longer than a week or two. Why? Because like r0ach said... why support something when it's obvious the shorts are going to drive the price down again. There are always more haters, than supporters. FACT. It has nothing to do with bagholding, it's a commentary on the markets.

As far as doomsday is concerned... Since 2012, the Federal Reserve have been engaged in a pre-emptive war against financial risk, and other central banks are forced to follow suit in a self-reinforcing cycle of devaluation and a mad game of Prisoner’s Dilemma.

The prisoners’ dilemma is a classic story about how individually rational decisions can lead to a socially undesirable outcome.

Here’s the original story: There are two partners in crime who get arrested by the police. The DA visits each prisoner and says the following: "If you both stay quiet, we’ll convict each of you on a minor offense, and you’ll get a year in jail. If both of you confess, you’ll both get convicted and get 10 years in jail. If you confess and your buddy stays quiet, then you’ll go free, and he’ll go to jail for 15 years. And I’m making the very same offer to him." Imagine you’re one of the prisoners. It turns out that no matter what you think your partner’s going to do, it makes sense for you to confess. Why? Because if he’s staying quiet, you can avoid a year in jail by confessing. And if he’s confessing, you can reduce your sentence from 15 years to 10 years by confessing. So you decide to confess. Your partner, facing the same incentives, also confesses. So you both go to jail for 10 years, even though you’d both have been better off if you’d both stayed quiet.

Stop with the pejoritive responses of bagholder, and never lose what you can afford, and see what he is really talking about.

Comment wasn't meant for you.  I meant that in general.  But yeah, shady things have always been going on in the altcoin scene.  I wouldn't be suprised if the devs were in on it.  It's not Bitcoin 2.0, it's Penny Stocks 2.0.

As for Wallstreet and the banksters, I could care less what the write about it in mainstream media.  They OWN the media.  So it could all just be a bunch of lies for whatever purposes they device.

[Spoetnik]

the reason for the price drop is simple:

anybody who is trading BTS on Poloniex, and not Open Ledger (utilizes internal ex) is keeping the market thin and thus easy to manipulate and is directly pushing the price of BitShares down.  Those who say that they want the BTS price to rise, but trade on Poloniex are mathematically either selfish/greedy or stupid.

TLDR:  greed

It's greed that makes a stock, commodity, crypto, etc.. rise as well.  When something is traded in an open market, it will always play under the rules of supply and demand, bulls and bears, mania and fear, etc...  It's just how the game works.

Trading on Open Ledger won't make a difference.

no.

what drives the financial markets is investments with real potential for growth.. such as Apple or IBM etc.
Not derivatives built on lending loans to poor people who can't afford houses and can't afford to pay the loan.
that is why crap is worthless and valuable stocks are expensive.
you skipped over the part where smart investors follow a rule.. growth.
ask any trading pro in the world for what to look for in a good stock market investment.
and don't forget to read up on how and why the worlds economy crashed in 2008 and why many pro traders think another crashing is looming.

guys the worlds economy tanked because of greedy idiots trading worthless derivatives and a lack of desire by Greenspan to regulate it.
sound familiar ? 
so what is played out in crypto ? ..the same damn thing.

[DecentralizeEconomics]

100 Applesauce points, right atcha DE

Agreed with everything r0ach has posted. Margin is killing the altcoin scene.

Wrong.  Did margin trading kill Wallstreet?  He's just saying that because BTS was manipulated in the direction he did not like.  If it was manipulated to go up to .001, would you think he cared how it got there?

It's just a simple case of sour grapes.

 The lack of liquidity is killing alts on margin. They do not have enough support to battle the bears. Introducing it into immature markets is stupid. Everybody loves to short, but who likes to go long, when buy the news sell the whatever is the crypto ethos? Did margin kill Wallstreet? Of course it did. Removing Glass steagall and turning the banks into casinos sure didn't help. 7 years after the collapse, its worse than ever. But all is good, because the mother of Derivatives Blythe Masters is now into Blockchain Tech. Save us Wallstreet!

"Buy the rumor, sell the news" has been around forever and isn't just "the crypto ethos".  People will go long or sell regardless of margin.  You simply don't like shorts and want to restrict free markets.  Are you part of the Chinese communist government's price protection team?

[tokeweed]

the reason for the price drop is simple:

anybody who is trading BTS on Poloniex, and not Open Ledger (utilizes internal ex) is keeping the market thin and thus easy to manipulate and is directly pushing the price of BitShares down.  Those who say that they want the BTS price to rise, but trade on Poloniex are mathematically either selfish/greedy or stupid.

TLDR:  greed

It's greed that makes a stock, commodity, crypto, etc.. rise as well.  When something is traded in an open market, it will always play under the rules of supply and demand, bulls and bears, mania and fear, etc...  It's just how the game works.

Trading on Open Ledger won't make a difference.

no.

what drives the financial markets is investments with real potential for growth.. such as Apple or IBM etc.
Not derivatives built on lending loans to poor people who can't afford houses and can't afford to pay the loan.
that is why crap is worthless and valuable stocks are expensive.
you skipped over the part where smart investors follow a rule.. growth.
ask any trading pro in the world for what to look for in a good stock market investment.
and don't forget to read up on how and why the worlds economy crashed in 2008 and why many pro traders think another crashing is looming.

guys the worlds economy tanked because of greedy idiots trading worthless derivatives and a lack of desire by Greenspan to regulate it.
sound familiar ?  
so what is played out in crypto ? ..the same damn thing.

You're right.  But in my mind, right now, the altcoin scene = penny stock scene.  So there are no IBMs, Apple's and fundamentally valuable 'companies' in the altcoin sector.  So I won't include that part in the equation right now.

[r0ach]

this guy / coin is linked to Protoshares (PTS)
The guy that made Memory coin (which is full of scammy antics)

Freetrade and Larimer are not the same person Spoeterman.

[tokeweed]

this guy / coin is linked to Protoshares (PTS)
The guy that made Memory coin (which is full of scammy antics)

Freetrade and Larimer are not the same person Spoeterman.

LOL that pic always cracks me up.  

Anyway, if it's not Larimer as Spoetnik implied, then who is Freetrade?