BitShares - why has it dropped like a rock

[Zer0Sum]

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.  

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.

Nice post.

The race to Zero Interest by global central banks is analogous to the nuclear arms race in 50s, 60s, 70s...
Flooding the system with free money does not mitigate risk... it only shifts tail risk from the present to the future.

This a very recent brilliant, must read paper:

"Volatility and the Allegory of the Prisoner’s Dilemma: False Peace, Moral Hazard, and Shadow Convexity".

http://hvst.co/1Luj8yW

It also shows the massive gap in sophistication between top Wall Street players... and crypto space pretenders.
 

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[brekyrself]

@chryspano
It's not about being partially honest..
I posted info that is verifiable here earlier (on this topic) implying freetrade is more involved with BTS than he lets on.
and his links and info on PTS and Memorycoin lead to far more shady and deceptive nonsense.

I would bet any money there is far more to what has gone on with Freetrade, that company and the rest of the Bitshares crew.
I am convinced of this based on bits of info and misc incidents that have played out.

Freetrade in my opinion made the most scammy deceitful coin in all of crypto history.
His launching of PTS then later down the line trying to distance himself shows deceit.

The trail is clear.

BTS is nothing more than the current project of many in a long line..
and they do not want any of you knowing that (which is why all the deceit about history / track records)
When Freetrade launched Protoshares i asked him outright about starting Memorycoin then abandoning (2x)
His response was i never made Protoshares  and he then posted (for the first time a company name)
He replied back to me a comment and at the same time edited the topic ANN title with [made by Invictus Innopvations]
Kind of funny he never mentioned that company name before.. page after page of him acting like he made the coin.. until i cornered him.
How believable is that ?

EDIT:
I had asked freetrade shortly after the PTS launch, shouldn't people be concerned that you abandoned some sketchy coins before ?
THAT was when he said i didn't make PTS and then accused me of being a troll and mouthed me off etc..
And come on.. gimme a fucking break !
IF that kind of track record with a coin dev does not set off alarm bells then what the fuck does ?

From all my reading, freetrade only helped code the gui or client for pts, nothing more.  PTS was a project by bytemaster where some others help code his idea.  Since freetrade seems long gone and the project is still evolving with some talented devs, why do we even care about pts or freetrade anymore?

PTS + Angel shares = Bitshares.  Bitshares 1.0 chain (now dead by design) has been replaced with the 2.0 version greatly improving upon 1.0 that was running for what 18 months?  You seem to imply they are leading people on some extravagant scam, have you watched their github and coding for the past few years?  Their code is innovating at a tremendous rate.

[StanLarimer]

Pretty close.  Two years ago freetrade answered Dan "Bytemaster" Larimer's $5K bounty to create a memory-hard version of Bitcoin called ProtoShares and quickly changed to BitShares PTS due to copyright issues.

He built the coin and launched it on "remember, remember, the fifth of November" 2013.  Guy Fawkes Day.

The sole purpose of this coin was to get a "fair" initial distribution for the real BTS - although distributing to the technically gifted 1% and well equipped mining community is no longer deemed to be "fair" by the BitShares community.  That's just old Bitcoin doctrine. "Fair" is deemed to be making them available to everyone for sale at market prices and using the funds to pay for sustained development under control of the existing owners of a coin.

Anyway, PTS served as a trading space-holder for BitShares until all the internal exchange logic could be completed.  It was to be good for 10% of the initial BitShares and holders wound up getting 50% of the initial supply (5 times as much) plus a lot more of other things like MUSE (Notes) and DAC Play PLS etc.

After collecting his bounty, FreeTrade went on to release his own variant of PTS called MemoryCoin.  After that I lost track, but all this history is still there in the archives of BitSharesTalk.org for those forensically inclined.