BitsharesX is taking Litecoin and Bitcoin down

[chryspano]

All those bitshares attackers give me this impression...

https://www.youtube.com/watch?v=zrzMhU_4m-g

[krach]

Hi,
Are "attackers" ones that ask fundmental questions that never get answered straight?


There is a base risk in the bitshares system if the price of bitsharesX crashes than the value of the assets are at risk, this is base risk.

Look at the title of this thread "taking down"

Sow the wind, Weap the whrilwind
If you start talking about "destroying bitcoin" "bitcoin killer" and other cultist talk you might, could be, perhaps "attacked" by some people, big suprise.

Im totaly ok with the technology here, I am totaly not ok with bitsharesX being sold as a "safe" "stable" "investment" without explaining the base risk involved.

[chryspano]

Hi,
Are "attackers" ones that ask fundmental questions that never get answered straight?


There is a base risk in the bitshares system if the price of bitsharesX crashes than the value of the assets are at risk, this is base risk.

Look at the title of this thread "taking down"

Sow the wind, Weap the whrilwind
If you start talking about "destroying bitcoin" "bitcoin killer" and other cultist talk you might, could be, perhaps "attacked" by some people, big suprise.

Im totaly ok with the technology here, I am totaly not ok with bitsharesX being sold as a "safe" "stable" "investment" without explaining the base risk involved.

You give me the impression that you ask no "fundamental questions", you give me the impression that you are here to spread FUD, I might be wrong though... In any case If you really have questions your best bet would be to ask them in https://bitsharestalk.org/  someone from the 6134 registered members and the devs themselves would be more than happy to answer your questions. Bitcointalk doesn't have much attention from the bitshares community, all the action is in the bitshares forum.

[krach]

Hi,

Please point to what part of anything I said is FUD.


We are asking you here, please answer here.

Why does BitUSD have value? Can you cash it out for USD? Is there USD backing it up?
Are those questions "FUD"?

How can I create an asset in the bitshares system?
How much does it cost?
Who has to approve my asset?
If it costs who gets the funds?
Why even peg the USD?
What is the obsession with USD?


These should be easy to answer. If these questions can not be answered in a thread with the title "BitsharesX taking down bitcoin and litecoin" then that speaks for itself.

[X7]

Hi,

Please point to what part of anything I said is FUD.


We are asking you here, please answer here.

Why does BitUSD have value? Can you cash it out for USD? Is there USD backing it up?
Are those questions "FUD"?

How can I create an asset in the bitshares system?
How much does it cost?
Who has to approve my asset?
If it costs who gets the funds?
Why even peg the USD?
What is the obsession with USD?


These should be easy to answer. If these questions can not be answered in a thread with the title "BitsharesX taking down bitcoin and litecoin" then that speaks for itself.

Seems like legit questions..

[Bansheroom]

Hi,

Please point to what part of anything I said is FUD.


We are asking you here, please answer here.

Why does BitUSD have value? Can you cash it out for USD? Is there USD backing it up?
Are those questions "FUD"?

How can I create an asset in the bitshares system?
How much does it cost?
Who has to approve my asset?
If it costs who gets the funds?
Why even peg the USD?
What is the obsession with USD?


These should be easy to answer. If these questions can not be answered in a thread with the title "BitsharesX taking down bitcoin and litecoin" then that speaks for itself.

BitUSD has a value as long as btsx has a value. Cash out? Yes, sell for btsx and sell the btsx for USD or whatever.

Create assets simply from the client. Fees for creating a new asset (while i write this post): 332,717.4144 BTSX
(from bitsharestalk board: The cost to register an asset is proportional to 2 weeks of network transaction fees.  Very expensive and intentionally so.  Because of the way it is calculated, you can expect it to double when a new asset is registered and then slowly fall over 2 weeks.)

The funds are distributed to the delgates as fees (deatils here: https://bitsharestalk.org/index.php?topic=5859.0)

Why peg the USD? Why not? Because we can? No obsession, there are also € avail, and many other currencies in the future.

[CoinHoarder]

When there was a 50% drop bitusd was at 0.79 and when there is a 500% drop, what then?

Lol...

Anyways.. don't waste your time with this guy. He is obviously trolling.. Possibly the most blatant Bitshares FUDster yet considering the link in this post. He doesn't think Bitshares is a good idea, yet he supports and/or is involved with a clone of it called Botshares on Dogeparty. https://bitcointalk.org/index.php?topic=763383

[chryspano]

Sooner or later all shitcoin promoters like krach will be left behind to hold the bags of their own shitcoins, keep a very large bag at hand dear krach, you are gona need it, especially for those dogecoin dogeshits you are promoting.

[krach]

Lol...

Anyways.. don't waste your time with this guy. He is obviously trolling.. Possibly the most blatant Bitshares FUDster yet considering the link in this post. He doesn't think Bitshares is a good idea, yet he supports and/or is involved with a clone of it called Botshares on Dogeparty. https://bitcointalk.org/index.php?topic=763383

lol

I dont have any issue with bitsharesX as a technology, as I have already said. There is an obsession with USD, and the reason for the bitUSD is a supposed to make things "stable" but this is an oxymoron upon itself.

For all people posting pictures of crap as an argument, it shows the level of the bitsharesX fans. Continue , As you can see I am giving away botsharesX and I am not claiming that it is a safe stable or smart investment, as BitsharesX does. BotsharesX is not a "bitcoin killer" or some other "killer" or trying to "take down" anything, instead trying to build. The whole mindset of "taking down" bitcoin, litecoin or any other coin speaks a lot for the the whole thread. If you take this next part sooo sersiously then be my guest: BotsharesX is NO CLONE it works differently, there is a Central Organ of Delgates that Dictate everything about it. Dogecoin and Dogeparty uses POW because the miners are not LAZY coin holders collecting rent. The level to entry is not eliteist as it is in BitsharesX , there are not Delagates that get paid when you create an asset.

Again, I ask you , what is this so called FUD that I posted, please quote it.

You are blatent Pumpster pumping things that you own so that you can exit when the price goes up. No interst in building anything.

BitUSD has a value as long as btsx has a value. Cash out? Yes, sell for btsx and sell the btsx for USD or whatever.

Exactly, and when it is worth a hellva lot less than it is now........ .  .     .      .

The price of creating an asset in the network is high, this is suppost to support the creation of "serious" assets. Serious enough to pay a good ammount of bitX to help support the price. That is fine, BitsharesX assets can be for the elite, go for it. As long as the cultist mindset is to destroy other coins then it is doomed.

How much do you need to invest in BitsharesX to make an asset? Currently 8.849276 BTC What a deal! Totaly safe, stable and smart!

[sumantso]

BitAssets are having some issues, but that was expected with an experiment like this. Good thing is that issues are being identified and potential solutions are being discussed.

I have no doubt you all will like the results. If you had followed BM you would have known how we eventually ended up with the elegant DPoS after a lot of discarded ideas on the way.

[chryspano]

As you can see I am giving away botsharesX...

We can all see this in the picture I posted above...

[krach]

We can all see this in the picture I posted above...

Yes I am a well known altcoin promoter.

Post your dogeparty address in this thread for free BotsharesX



BotSharesX is about more than PR, pump and dump, becoming a middle man where none is needed, a new form of speculation, talking about stealth addresses while at the same time catering to reglation, a bitcoin killer, an altcoin killer, something only "smart" people in the inside group understand and talk about.
It is waaay more than that, it is what’s possible with a blockchain.
It’s about changing the rules of how to dance using crypto.


Transactions take place in dogeseconds, faster than wire transfers which take hours or days. Transfer intergalatical at the speed of the universe!

[chryspano]

We can all see this in the picture I posted above...

Yes I am a well known altcoin promoter.

Post your dogeparty address in this thread for free BotsharesX



BotSharesX is about more than PR, pump and dump, becoming a middle man where none is needed, a new form of speculation, talking about stealth addresses while at the same time catering to reglation, a bitcoin killer, an altcoin killer, something only "smart" people in the inside group understand and talk about.
It is waaay more than that, it is what’s possible with a blockchain.
It’s about changing the rules of how to dance using crypto.


Transactions take place in dogeseconds, faster than wire transfers which take hours or days. Transfer intergalatical at the speed of the universe!

[krach]

yes, with the title of the thread it will be trolled.

Since you posted that you are 50/50 bitcoin bitshresX I understand why you so emotional.

[CoinHoarder]

......

Trolls gonna troll.

[EvilDave]

Create assets simply from the client. Fees for creating a new asset (while i write this post): 332,717.4144 BTSX
(from bitsharestalk board: The cost to register an asset is proportional to 2 weeks of network transaction fees.  Very expensive and intentionally so.  Because of the way it is calculated, you can expect it to double when a new asset is registered and then slowly fall over 2 weeks.)

The funds are distributed to the delgates as fees (deatils here: https://bitsharestalk.org/index.php?topic=5859.0)

Why peg the USD? Why not? Because we can? No obsession, there are also € avail, and many other currencies in the future.

Really ?
Did I read that right? 332,000 BTSX to create an asset ?
Which is then given to the delegates ?
How many delegates are there ?


I'm just gobsmacked by the asset fee....not exactly making it accessible, eh?

[CoinHoarder]

Create assets simply from the client. Fees for creating a new asset (while i write this post): 332,717.4144 BTSX
(from bitsharestalk board: The cost to register an asset is proportional to 2 weeks of network transaction fees.  Very expensive and intentionally so.  Because of the way it is calculated, you can expect it to double when a new asset is registered and then slowly fall over 2 weeks.)

The funds are distributed to the delgates as fees (deatils here: https://bitsharestalk.org/index.php?topic=5859.0)

Why peg the USD? Why not? Because we can? No obsession, there are also € avail, and many other currencies in the future.

Really ?
Did I read that right? 332,000 BTSX to create an asset ?
Which is then given to the delegates ?
How many delegates are there ?


I'm just gobsmacked by the asset fee....not exactly making it accessible, eh?

The asset fee is high because we only want legit (read:quality or large businesses) assets being created on BitsharesX. BitsharesME will come out later this year that will have a much lower asset fee for smaller mom and pop assets.

I think he is way off on the fee amount to create an asset on BTSX anyways, but I don't know the number off the top of my head.

[krach]

The asset fee is high because we only want legit (read:quality or large businesses) assets being created on BitsharesX. BitsharesME will come out later this year that will have a much lower asset fee for smaller mom and pop assets.

I think he is way off on the fee amount to create an asset on BTSX anyways, but I don't know the number off the top of my head.

Hi,
Why should I pay so much to launch my asset on bitsharesX when I know bitshresme is coming soon. What is the advantage? An "X" instead of a "ME" ?
Cost of asset is one or two weeks of network fees, i think.

In any case eveyone that has any stake in BitsharesX needs to read this:

I'm referring to the scenario mentioned by the author.  He's basically trying to make the case that bitAssets won't hold market peg if BTSX has huge volatility to the downside because they'll be 'unbacked' by real world USD... or to put it another way, the value of all outstanding bitAssets will largely exceed the value of all BTSX during a black swan so it will implode on itself.

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.

https://bitsharestalk.org/index.php?topic=7065.msg96548#msg96548


base risk


It would be fine if this was talked about from the get go, but it isnt.




 

[EvilDave]

Ah-ha...Preston Byrne and his BTSX assessment:
http://prestonbyrne.com/2014/08/17/dont-walk-away-run/

And the BTSX community response:
https://bitsharestalk.org/index.php?topic=7065.0


I've spent some time talking to PB, and I'd value his opinion on crypto (and legal) matters.
Dude has a big brain, and is taken seriously by most people.

My personal take on BTSX is that it is a genuine effort to create a new crypto, but I think that it's needlessly complex and that could lead to problems.

[krach]

Ah-ha...Preston Byrne and his BTSX assessment:
http://prestonbyrne.com/2014/08/17/dont-walk-away-run/

And the BTSX community response:
https://bitsharestalk.org/index.php?topic=7065.0

yea but the quote isnt even from Byrne and I linked to the thread deemed as the "response".

In non complex terms, when the price crashes, it will bring the whole ecosystem down with it.