Bitshares X inflating due to bugs and hacks

[Mysto]

This is what bytemaster said...

Remind them that even bitcoin had a bug that allowed bitcoin to be created due to integer overflow. 

In our case it was a 32 bit abs function that bit us.

[liondani]

Likely was an inside job.  It's a coin ran by Communists in China.  Redistribution of wealth to the most esteemed Proletarian delegates!

BitsharesX was always very suspicious in that all the volume just came from a few places in China.


The NxT free world versus BitsharesX Communist.

as an insider on bitshares I can tell you that in reality the most supporters came from Pluto (there are living aliens with Chinese characteristics)
Guess which Country they have chose on Earth to send their funds from?

some evidence near a traditional bank in China:

[URSAY]

Advanced wallet.  Real world dev with a history.  Active development.  Transparency regarding problems and how they will be solved.  I HODL.

[TinEye]

Its quiet again and what do you know, they have now announced that it will inflate. The hard cap is gone.

Forcibly taken over PTS too and screwed their holders.

This is what happens when there is a brainwashed group with more money than sense. The best part was when their lead developer sold his personal stash at a high and made a million of those off his followers.

[Xeldal]

Its quiet again and what do you know, they have now announced that it will inflate. The hard cap is gone.

Forcibly taken over PTS too and screwed their holders.

This is what happens when there is a brainwashed group with more money than sense. The best part was when their lead developer sold his personal stash at a high and made a million of those off his followers.

I understand its hard to keep up as there is a lot to digest and sift through as well as often bad/misinformation.

PTS is not being taken over.  My understanding is that it will continue unaffected.  PTS holder are in fact being gifted shares in BTS that they otherwise were not eligible for.  They are getting shares in all *past AND *future DAC's that honor the social consensus.  This is in my mind a pretty good deal.  There was a lot of confusion around this and understandably because of this many felt they were getting a bum deal.

As far as the lead dev selling his personal stash, there is no information that supports that claim.  Its my understanding he made a profit buying/selling/shorting bitUSD and betting that the peg would be maintained.  e.g. when the difference between USD and bitUSD increases you place your bets that the price will move back to the peg.  This is normal, should be expected, and anyone/everyone has the same ability/opportunity to make these bets.  It seems logical that the lead dev would place bets that his system will work, and rightfully should profit when it does.

I hope this clarifies things somewhat.

[robrigo]

Its quiet again and what do you know, they have now announced that it will inflate. The hard cap is gone.

Forcibly taken over PTS too and screwed their holders.

This is what happens when there is a brainwashed group with more money than sense. The best part was when their lead developer sold his personal stash at a high and made a million of those off his followers.

FUDers gonna' FUD.

To clarify your points:

Capital infusion (or share dilution) is coming in the form of allowing delegates to ask for X salary. In this way, developers and other workers can be hired directly by the DAC via stakeholder approval voting. No other system has this feature and I think it will completely change the nature of crypto systems by allowing BitShares to hire the best talent, paying them what they deserve & holding them accountable across the spectrum of stakeholders. That alone is worth MUCH more than the dilution incurred by increasing the supply, because the ecosystem will have much more fuel to grow. There will be a hard cap of the number of BTS produced per block, I believe at 50 BTS. The max possible dilution rate will be effectively lower than that of Bitcoin. On top of that, there is going to be hard fork approval voting eventually (https://bitsharestalk.org/index.php?topic=10150.0) which will make the DAC self regulating. The stakeholders at large will essentially be able to vote on changes to the "constitution" or code. So now the DAC can not only employ people but also decide based on approval voting which new rules will be implemented.

PTS still exists, and the social consensus hasn't changed. What actually happened was that as new DACs were coming out (DNS and VOTE), the development team was becoming spread too thin. So the proposal to this is a re-consolidation of those DACs and their developers back into BTSX, which is going to be renamed BTS when the upgraded client is released toward the end of November. This allows the team at Invictus laser sharp focus on producing the best DAC they can, without having to compete within the ecosystem. Future third party DACs are still suggested to include PTS and AGS in their initial allocation as per the social consensus. Because the focus of Invictus is pivoting into building one super DAC, the proposal included an air drop on VOTE / DNS / PTS / AGS as a gesture of good faith. That way, those who were interested in just the features of one of those DACs wouldn't be left holding the bag.

So, there will be a total of 500,000,000 new shares air dropped across VOTE / DNS / AGS / PTS as a result of this refocusing measure, in order to fairly realign the incentives of all participants in the BitShares ecosystem. The rebranded DAC allocation percentages are 3% VOTE / DNS, 7% AGS / PTS, 80% BTSX.

http://bitshares.org/bitshares-the-platform/

As for your last point... proof or GTFO. How would you even know? There has been no scandal involving bytemaster's personal stash that I have heard about. This brand of FUD discredits all of your other FUD to a large degree.

[Spoetnik]

This was never mentioned in all their threads here, which are also curiously silent now.

Volumes have dropped and it won't surprise me if they are using the funds to prop up the price. They have already mentioned earlier they are using investor funds to buy.

I'm vomit on my keyboard and pee'd a little 

This is Malarkey !

ohh i'm not havin' it ..it's go time now !!

ohhhhh it's on now like Paula Zawn and i am in Like Arrow Flynn !

[toast]

Pro tip, these types of threads lose their credibility when you use NXT as the example of a good community with honest devs and such.

If you want to spread FUD and capture some of the capital leaving BTS, make it more subtle.

[TinEye]

Pro tip, these types of threads lose their credibility when you use NXT as the example of a good community with honest devs and such.

If you want to spread FUD and capture some of the capital leaving BTS, make it more subtle.

Did you see me using NXT as an example? Go to my post history and dig out any support of NXT or shut up. Or maybe you and your closed group of developers are busy counting the windfall you gained by again robbing a lot of your supporters blind.

FYI, I do not like the NXT distribution which has lead to the concentration of a few, and I have been complementary about the TITAN feature. I had even invested and sold off during the first pump.

[TinEye]

As for your last point... proof or GTFO. How would you even know? There has been no scandal involving bytemaster's personal stash that I have heard about. This brand of FUD discredits all of your other FUD to a large degree.

He himself said he earned a million shares by selling at a high and buying later. You all can dress it up in fancy words all you like but that million shares did not emerge out of thin air. It came from the stupid supporters too blind to realise it was being pumped by the very developers using investor's money.

[TinEye]

Capital infusion (or share dilution) is coming in the form of allowing delegates to ask for X salary. In this way, developers and other workers can be hired directly by the DAC via stakeholder approval voting. No other system has this feature and I think it will completely change the nature of crypto systems by allowing BitShares to hire the best talent, paying them what they deserve & holding them accountable across the spectrum of stakeholders. That alone is worth MUCH more than the dilution incurred by increasing the supply, because the ecosystem will have much more fuel to grow. There will be a hard cap of the number of BTS produced per block, I believe at 50 BTS. The max possible dilution rate will be effectively lower than that of Bitcoin. On top of that, there is going to be hard fork approval voting eventually (https://bitsharestalk.org/index.php?topic=10150.0) which will make the DAC self regulating. The stakeholders at large will essentially be able to vote on changes to the "constitution" or code. So now the DAC can not only employ people but also decide based on approval voting which new rules will be implemented.

Again a lot of fancy words to hide that you changed the rules. There was a hard cap of 2 billion, thats how it was sold and those who invested thought that was the deal. Now its inflating but they still can not see they are being robbed blind.

[CLains]

What do you guys think would have happened to Bitcoin were the 500ish million dollars given out to miners (10% inflation) used for hiring developers and getting the word out to people all around the world? What if each person holding Bitcoin could vote in a completely decentralized manner for how much and how to spend this money, adapting to changing reputations and circumstance continuously?

[TinEye]

What do you guys think would have happened to Bitcoin were the 500ish million dollars given out to miners (10% inflation) used for hiring developers and getting the word out to people all around the world? What if each person holding Bitcoin could vote in a completely decentralized manner for how much and how to spend this money, adapting to changing reputations and circumstance continuously?

You are again deflecting. You put it on the market saying it was going to deflate, that what was there was the maximum possible. Now suddenly you are comparing with Bitcoin and its 12% annual inflation to cover up your own changing the deal midway.

[cass]

The title (and possibly the intent) of this OP/thread is misleading as there was no hacking involved, it was a bug. Along with the empty claims of which Tineye has no proof AGS funds are being used to prop up the price.. just baseless speculation which makes me think the OP has some sort of ulterior motive to want the price to go down. Judging from the OPs previous posts, he stated he sold when the price was high and would buy back into BTSX came back down... maybe just maybe he isn't happy the price isn't collapsing like he thought it would and he is trying to make that happen one way or another.

well said …

[BootstrapCoinDev]

If BitShares X is able to do what it says, will have a system that is more decentralized but with enough trust (knowing who will produce next block) that they can handle MasterCard/Visa volumes and process them incredibly rapidly. But basically it is an absolute shitcoin, more like the - 'could change everything coin' so I guess actually you could call it BUGGED 'shit' coin

[TinEye]

The title (and possibly the intent) of this OP/thread is misleading as there was no hacking involved, it was a bug. Along with the empty claims of which Tineye has no proof AGS funds are being used to prop up the price.. just baseless speculation which makes me think the OP has some sort of ulterior motive to want the price to go down. Judging from the OPs previous posts, he stated he sold when the price was high and would buy back into BTSX came back down... maybe just maybe he isn't happy the price isn't collapsing like he thought it would and he is trying to make that happen one way or another.

well said …

Nice work through shill. The lead dev posted that he was using AGS funds to buy up BTSX. Did you really miss that or just plain lying hoping that some will believe that I am actually wrong.

[juicyjuice87]

Pro tip, these types of threads lose their credibility when you use NXT as the example of a good community with honest devs and such.

If you want to spread FUD and capture some of the capital leaving BTS, make it more subtle.

Did you see me using NXT as an example? Go to my post history and dig out any support of NXT or shut up. Or maybe you and your closed group of developers are busy counting the windfall you gained by again robbing a lot of your supporters blind.

FYI, I do not like the NXT distribution which has lead to the concentration of a few, and I have been complementary about the TITAN feature. I had even invested and sold off during the first pump.

Mad you missed the IPO bra? https://bitcointalk.org/index.php?topic=303898.0  you must be spitting chips over bitcoin then with satoshi owning 1.5m btc give or take. With only a handful of people getting newly mined (distributed) coins also must make your blood boil

[TinEye]

Pro tip, these types of threads lose their credibility when you use NXT as the example of a good community with honest devs and such.

If you want to spread FUD and capture some of the capital leaving BTS, make it more subtle.

Did you see me using NXT as an example? Go to my post history and dig out any support of NXT or shut up. Or maybe you and your closed group of developers are busy counting the windfall you gained by again robbing a lot of your supporters blind.

FYI, I do not like the NXT distribution which has lead to the concentration of a few, and I have been complementary about the TITAN feature. I had even invested and sold off during the first pump.

Mad you missed the IPO bra? https://bitcointalk.org/index.php?topic=303898.0  you must be spitting chips over bitcoin then with satoshi owning 1.5m btc give or take. With only a handful of people getting newly mined (distributed) coins also must make your blood boil

No thanks, buying and selling your pump and dump coin (NXT) has earned me a lot of profits. Small tip: its about to go in a pump phase so be ready to sell.

I like blinded followers like you, makes it easy to earn.

[brekyrself]

These threads are on the same level as political commercials, straight annoying.

Tinyeye you should at least dig for 10 seconds on their forum to find the truth, no need to spread fud.  They have a draft proposal that would better the whole BitShares, ProtoShares, AGS, DAC community...

https://bitsharestalk.org/index.php?topic=10608.0


It's a good thing you are keeping an eye on BitShares, along with many others, as they may have a very bright future.

[Gentso1]

It should be noted that most of what tinyeye has stated is based on a very small amount of truth. You must follow the project quite closely. Of course you probably do this all for the good of the people, such a selfless act...