BitsharesX is taking Litecoin and Bitcoin down

[From Above]

Please read this.

http://prestonbyrne.com/2014/08/17/dont-walk-away-run/
Thanks.
Actualy, I think everyone should read before invest.

read that article today and invested after reading, lol!

it's a babbling style article of one shitty lawyer who's probably invested in a competitor, mate

REPEAT ONCE MORE

didnt u see day one this BiTSHARES is a ponzi IPO scam scheme like NxT tryin to suck in dem investors?  LOL low so low. i wuldnt be surprised if bitshare is same with nxt in the bed. BiTshare probably = NxT MoneroShares NEM whatever BS.  fucking ponzi thieves sucking in poor ppl with ur garbage waste just leave go bye !

~CfA~

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[ArticMine]

Scenario: If BTSX has a market cap of $100M and there are $50M worth of bitAssets issued and a black swan happens .. if the market cap of BTSX falls to $1M then those with bitAssets are screwed because their bitAssets would be greatly undercollateralized so if they wanted to cash out in USD they’d do so at huge loss.

http://prestonbyrne.com/2014/08/24/what-goes-up/.

This pretty well sums it up. I will wait for the market to pass the verdict on BTSX.

[From Above]

Scenario: If BTSX has a market cap of $100M and there are $50M worth of bitAssets issued and a black swan happens .. if the market cap of BTSX falls to $1M then those with bitAssets are screwed because their bitAssets would be greatly undercollateralized so if they wanted to cash out in USD they’d do so at huge loss.

http://prestonbyrne.com/2014/08/24/what-goes-up/.

This pretty well sums it up. I will wait for the market to pass the verdict on BTSX. Buy Monero and dump this shit.

NO IM NOT GOING TO BUY MONERO BITSHARE-Y NXT-X or NEM-Y whatever ponzi share !
u can say it a billion times keep spam it all over the forum with ur 1000 accounts to suck in poor ppl in ur garbage scam scheme dude.  u r annoying as hell

~CfA~

[TheMage]

Wasn't this just 2 months ago but only the "DarkCoin" movie was playing as the new replacement for LTC?

lol and here we are and where is DRK...lol

 

What's funny is how so many people will hate on a new experiment such as Bitshares that is pushing the boundaries and could eventually help EVERYONE.  Have your doubts, perform some due diligence, and make your decisions what to invest in otherwise sit back and watch the show.

The only way to learn is to try and if you fail at least you learned something along the way.  SpaceX just has a rocket blow up, are they now going to close up shop?  Even if the market peg does not work perhaps they can make changes to refine the software and get it going.

All you haters need to give some credit where credit is due, these guys are actually trying to help the general public.  All of Invictus has put there names on the board and do not hide behind any annonmous forum handles, think about that for a second.

Sorry to point out the obvious, but I do believe the "hate" you are talking about really stems from this

BitsharesX is taking Litecoin and Bitcoin down

I'm sure its not the intention of anyone here to really bash on any alt coin, but the fact of the matter is that every new thing that comes out claims that they will take the number 1 or 2 spot. Its this type of brazen behavior that causes the community you call out to come out of the woodwork and defend what they hold dear.

For once I would love to see a promising alt coin where it's community doesn't state "We are going to kill XXX coin". As soon as threads like these are made, the community and the coin loses a bit of credibility.

Before this it was Darkcoin, before that it was NXT, before that it was Dogecoin, before that it was Auroracoin.........see the trend here?


It's like you people are cannibals. Stop the hate because you greedy people (not you, just pumpers in general) are doing nothing at all to help. Who really cares if you get the second or the first spot? Congrats, that doesnt mean Bitcoin or Litecoin will be any less important. And in the end we move one step closer to the ultimate goal, which is to utilize crypto's as a true payment system giving power back to the people.

[X7]

It really is not a competition, every coin will be used by the people who wish to use it.

Different coins will serve different purposes and new roles - saying ONE is taking down the other is naive.

Bitcoin is the grand daddy - it is only NOW being taken to the main stream slowly, if you think something as new as Bitshares with a market cap of 72M is going to take down a 6-7B coin... with a B not an M...  you are clearly trying to pump the coin.

Greed ruins what crypto stands for..  

[TheMage]

It really is not a competition, every coin will be used by the people who wish to use it.

Different coins will serve different purposes and new roles - saying ONE is taking down the other is naive.

Bitcoin is the grand daddy - it is only NOW being taken to the main stream slowly, if you think something as new as Bitshares with a market cap of 72M is going to take down a 6-7B coin... with a B not an M...  you are clearly trying to pump the coin.

Greed ruins what crypto stands for..  

Thank you! Best post in this thread so far .

[smoothie]

Wasn't this just 2 months ago but only the "DarkCoin" movie was playing as the new replacement for LTC?

lol and here we are and where is DRK...lol

 

What's funny is how so many people will hate on a new experiment such as Bitshares that is pushing the boundaries and could eventually help EVERYONE.  Have your doubts, perform some due diligence, and make your decisions what to invest in otherwise sit back and watch the show.

The only way to learn is to try and if you fail at least you learned something along the way.  SpaceX just has a rocket blow up, are they now going to close up shop?  Even if the market peg does not work perhaps they can make changes to refine the software and get it going.

All you haters need to give some credit where credit is due, these guys are actually trying to help the general public.  All of Invictus has put there names on the board and do not hide behind any annonmous forum handles, think about that for a second.

TheMage pointed it out best...

Look at the title of this thread in terms of the word "hate"...

Then come back and talk to me. lol 

[brekyrself]

The chinese have already used and dumped this poorly designed, misleading token that people insist into calling a "coin", hope you like the feeling.

Got any evidence to back this up?  Please show the Chinese pump and dump, what is poorly designed, and what is misleading?

[V500]

tomorrow something else will be taking litecoin down. That will be the talk for the next years. Every alt wants to take litecoin down. lol. I think it is just a term to hype it up as good as possible. It'll take a bit more than a chinese one-time-pump to "take litecoin down"
Your btsx is UP, Litecoin is DOWN. Best you can do now is convert your btsx to litecoin

[jae480]

Scenario: If BTSX has a market cap of $100M and there are $50M worth of bitAssets issued and a black swan happens .. if the market cap of BTSX falls to $1M then those with bitAssets are screwed because their bitAssets would be greatly undercollateralized so if they wanted to cash out in USD they’d do so at huge loss.

http://prestonbyrne.com/2014/08/24/what-goes-up/.

This pretty well sums it up. I will wait for the market to pass the verdict on BTSX. Buy Monero and dump this shit.

NO IM NOT GOING TO BUY MONERO BITSHARE-Y NXT-X or NEM-Y whatever ponzi share !
u can say it a billion times keep spam it all over the forum with ur 1000 accounts to suck in poor ppl in ur garbage scam scheme dude.  u r annoying as hell

~CfA~

Soooo I'm guessing you already sold all your "shares" and you also have about 1,000 accounts?

Anyways, doesn't the whole world run on a ponzi scheme? Perhaps, the benefits out weigh the costs?
(assuming ponzi scheme means enriching the few) Even Bitcoin is a 'ponzi.'

For instance the biggest ponzi scheme of all fiat currently feeds us all. The only reason it works is because of group think and the fact that humans really aren't rational at all even though we like to think we are. This won't change until the technological singularity arrives and we merge with machines.
Anyways, assuming its all a ponzi certain ponzi's are better than others. Would you prefer the status quo where 80 something people have more wealth than the bottom 1 or 2 billion that starve and die frequently?

[TaunSew]

Scenario: If BTSX has a market cap of $100M and there are $50M worth of bitAssets issued and a black swan happens .. if the market cap of BTSX falls to $1M then those with bitAssets are screwed because their bitAssets would be greatly undercollateralized so if they wanted to cash out in USD they’d do so at huge loss.

http://prestonbyrne.com/2014/08/24/what-goes-up/.

This pretty well sums it up. I will wait for the market to pass the verdict on BTSX. Buy Monero and dump this shit.

NO IM NOT GOING TO BUY MONERO BITSHARE-Y NXT-X or NEM-Y whatever ponzi share !
u can say it a billion times keep spam it all over the forum with ur 1000 accounts to suck in poor ppl in ur garbage scam scheme dude.  u r annoying as hell

~CfA~

Soooo I'm guessing you already sold all your "shares" and you also have about 1,000 accounts?

Anyways, doesn't the whole world run on a ponzi scheme? Perhaps, the benefits out weigh the costs?
(assuming ponzi scheme means enriching the few) Even Bitcoin is a 'ponzi.'

For instance the biggest ponzi scheme of all fiat currently feeds us all. The only reason it works is because of group think and the fact that humans really aren't rational at all even though we like to think we are. This won't change until the technological singularity arrives and we merge with machines.
Anyways, assuming its all a ponzi certain ponzi's are better than others. Would you prefer the status quo where 80 something people have more wealth than the bottom 1 or 2 billion that starve and die frequently?

Perhaps the worst rhetorical reply you could come up with.

  If I was faced with that dichotomy then I would rather pick the status quo.   No one would support BitsharesX as it would mean centralization of power and wealth to few people in China, not even the other members of the BRICS would go for that.

[chryspano]

Some guys keep telling us all the time that they don't like bitshares at all, these guys definitely are holders of huge stacks of crapcoins and shitcoins and see bitshares as the tool of the destruction of their shitcoins.

It could be great fun and amusing to tell us what kind of crapcoins you are holding!

[robrigo]

The chinese have already used and dumped this poorly designed, misleading token that people insist into calling a "coin", hope you like the feeling.

Got any evidence to back this up?  Please show the Chinese pump and dump, what is poorly designed, and what is misleading?

http://prestonbyrne.com/2014/08/24/what-goes-up/
http://prestonbyrne.com/2014/08/17/dont-walk-away-run/

and the fact BullShitX highest volumes was on chinese exchange

there is your proof, this token is over, and you got used by chinese whales.

Have you done your own research into the matter or just took Preston Byrne's word for it? BTSX has high Chinese volumes because the Eastern marketing effort is going better than the West, and also that the few exchanges listing BTSX happen to be majority in China. This is truly a global project with many Chinese holders, developers, and stakeholders involved, including those trying to make short term gains. DACsunlimited which releases the BitSharesX code is based in Hong Kong after all.

I think it's easy to dismiss something you don't understand as "poorly" designed. I'll give you an overview of my personal reasons for holding my BTSX for the long run:

1) Delegated Proof of Stake ensures the network is resilient to malicious / poorly ran delegates by allowing stakeholders to effectively "fire" delegates via their voting power. Votes are cast every time a transaction is sent. Delegates are "hired" by voters to produce blocks, and they get a portion of the transaction fees at a scalable rate (Pay Rate == delegate pay, Burn Rate == stakeholder pay). When delegates decrease their pay rate / increase their burn rate, more transaction fees are "burned" or destroyed, decreasing the total amount of shares in the system. Because of this, BTSX is deflationary and increases in value over a long term. Delegates can design their campaign to use their pay rate creatively, i.e. charity delegates, delegates for funding marketing, delegates for funding development, etc. In this way a DAC (Decentralized Autonomous Company) can operate in a profitable manner and use funds to bolster the community. This is good for the environment too, as energy doesn't need to be wasted needlessly in order to produce blocks as with PoW. Also, 10 second max block times makes using the wallet feel as natural as using plastic on the web. No waiting around for confirmation times anymore. Infographic: http://wiki.bitshares.org/images/5/5a/DPOS-infographic.jpg

2) TITAN (Transfer Invisibly To Any Name) is a new technology that allows transactions to be sent to names registered in the blockchain, instead of unwieldy transaction hash addresses. It keeps the names privately encrypted so that the parties involved can see the transactions in the wallet, but otherwise the blockchain shows addresses that can't be traced back to the name. An encrypted memo can also be included in the transaction. This also makes using the wallet feel natural, as you can send value to monikers and real names of people that you can recall by memory. Infographic: http://wiki.bitshares.org/index.php/File:TITAN_Infographic.jpg

3) Consensus Markets are really cool. Polymorphic digital assets such as bitUSD are just getting out of the gate but the peg has been tracking pretty well. bitUSD is "printed" by the market by using BTSX as collateral, with an "FDIC" style insurance fund that is grown by the DAC from collecting the difference between two matched orders (Note: BTSX uses a modified matching algo than traditional markets: http://wiki.bitshares.org/index.php/Bitshares_X#Order_Matching_Algorithm). I feel we will see it stabilize more after the first short squeeze, which is likely going to be triggered by a continued decrease in price. I love the fact that I can "cash" out to bitUSD to hedge my risk from volatility directly in the BTSX market! No longer do I have to trust 3rd party exchanges with my value. Also, I can make money when BTSX is in a bubble by buying BitUSD, and then selling it later when the bubble pops and the price decreases. This increases my overall BTSX stake because the bitUSD costs more BTSX when BTSX is lower. There is currrently a lot of potential for such arbitrage, and participating in it will only help to strengthen the peg.

Don't knock it until you try it!

[TinEye]

While it is decent, the current price is too high. I have unloaded whatever I had at 0.000098. Thanks everyone  
I will get back in surely, but at much lower prices.

[brekyrself]

The chinese have already used and dumped this poorly designed, misleading token that people insist into calling a "coin", hope you like the feeling.

Got any evidence to back this up?  Please show the Chinese pump and dump, what is poorly designed, and what is misleading?

http://prestonbyrne.com/2014/08/24/what-goes-up/
http://prestonbyrne.com/2014/08/17/dont-walk-away-run/

and the fact BullShitX highest volumes was on chinese exchange

there is your proof, this token is over, and you got used by chinese whales.

Do you think for yourself or just read what people ramble about?  Obviously most volume was on the Chinese exchanges because that's where its traded (Bter, btc38, and now Poloneix).

Read Robrigo's post, its quite informative.

[smalltimer]

a coin that shits their pants so much it can't even face the community around here and avoids having a thread on btctalk (possibly because of fears of being exposed for logic flaws) should "take litecoin and bitcoin down"?

gtfo!
people don't fall for this BS.  


... what if ... you can't trade bitUSD for anything else than their counterparts and the shit is a hermetic system in a system? Huh? What then? You can't trade that shitty btsx-things of the lower order for anything else than options IN the system or btsx since the contracts always need a counterpart.

So where is the dev now answering the concern?

Where is your nice bitBTC on the open market? Where can i buy btsx-options directly for btc or fiat? Nowhere. and that'll probably never change.

Very likely the reason of btsx avoiding btctalk.

[robrigo]

a coin that shits their pants so much it can't even face the community around here and avoids having a thread on btctalk (possibly because of fears of being exposed for logic flaws) should "take litecoin and bitcoin down"?

gtfo!
people don't fall for this BS.  


... what if ... you can't trade bitUSD for anything else than their counterparts and the shit is a hermetic system in a system? Huh? What then? You can't trade that shitty btsx-things of the lower order for anything else than options IN the system or btsx since the contracts always need a counterpart.

So where is the dev now answering the concern?

Where is your nice bitBTC on the open market? Where can i buy btsx-options directly for btc or fiat? Nowhere. and that'll probably never change.

Very likely the reason of btsx avoiding btctalk.

You can trade bitUSD on bter now:

https://bter.com/trade/btc_BITUSD
https://bter.com/trade/bitusd_usd

[brekyrself]

a coin that shits their pants so much it can't even face the community around here and avoids having a thread on btctalk (possibly because of fears of being exposed for logic flaws) should "take litecoin and bitcoin down"?

gtfo!
people don't fall for this BS.  


... what if ... you can't trade bitUSD for anything else than their counterparts and the shit is a hermetic system in a system? Huh? What then? You can't trade that shitty btsx-things of the lower order for anything else than options IN the system or btsx since the contracts always need a counterpart.

So where is the dev now answering the concern?

Where is your nice bitBTC on the open market? Where can i buy btsx-options directly for btc or fiat? Nowhere. and that'll probably never change.

Very likely the reason of btsx avoiding btctalk.

This BitUSD experiment just began, we need to give it time to see if it can keep the peg and also to get others to accept it.  There are much much larger implications if the peg holds besides buying items online with BitUSD.

[rdnkjdi]

BitsharesX is taking Litecoin and Bitcoin down 

No it's not.

[smoothie]

a coin that shits their pants so much it can't even face the community around here and avoids having a thread on btctalk (possibly because of fears of being exposed for logic flaws) should "take litecoin and bitcoin down"?

gtfo!
people don't fall for this BS.  


... what if ... you can't trade bitUSD for anything else than their counterparts and the shit is a hermetic system in a system? Huh? What then? You can't trade that shitty btsx-things of the lower order for anything else than options IN the system or btsx since the contracts always need a counterpart.

So where is the dev now answering the concern?

Where is your nice bitBTC on the open market? Where can i buy btsx-options directly for btc or fiat? Nowhere. and that'll probably never change.

Very likely the reason of btsx avoiding btctalk.

You can trade bitUSD on bter now:

https://bter.com/trade/btc_BITUSD
https://bter.com/trade/bitusd_usd

i'll take actual USD in my possession over BITUSD any day for a long long time.