BitSharesX -- out of nowhere?

[bitcoinrocks]

I was away from crypto for a while and now it seems like BitSharesX came out of nowhere to land in the #4 spot on coinmarketcap and it seems to have a long list of features.  How did the project mature so quickly?

I read somewhere that it has a Chinese affiliation somehow.  Are the devs Chinese?

[FandangledGizmo]

The short answer to your question is Daniel Larimer is a genius.

The long answer is they actually held the fund raiser for BitSharesX back in February and they've been working on it since & it was released July 20th then they added BitAssets and they've been fine tuning that. Now it's a lean mean machine ready to take a shot at the title.

It has DPOS which is like POS on steroids and more importantly they have BitAssets which completely solve the volatility problem. You can store the value of a dollar or gold in a completely decentralised way backed by 300% collateral that also pays interest. So sick.

On Nov 5th they merged into one BitShares, so the X should disappear soon. They also have some kind of big marketing push in the pipeline. (It hasn't been marketed at all yet, so get ready for lift off...)

The downside is they've also introduced dilution/inflation starting Nov 5 of up to 8% a year. It's less than Bitcoin and it's directed by shareholders via delegates for development, marketing & charity etc. Ofc a lot of people don't like inflation at all so we'll have to see how that all plays out.

(No the devs aren't Chinese, but they have big Chinese support they lost some with the inflation issue though.
One dev at least is Chinese, 'HackFisher' I think but he's based in the US with them I think and he's been working on BitShares PLAY)

[Crestington]

Bitshares is a good project, stamp of approval here.

[cassius69]

this thread reads like a bad commercial 

[FandangledGizmo]

Bitshares is a good project, stamp of approval here.

Well it is still new lets see how long they will last this time. PTS is already done you can see this today.

That's because on Nov 5th BitShares PTS became part of BitSharesX, they also added BitShares DNS and also as yet unreleased BitShares VOTE. So now the X will drop from BitSharesX and it will just be one BitShares platform.

So BitShares PTS is falling cuz it's pretty much over in its current form. Some people are looking at rebranding it as just PTS and continuing it that way.

[Crestington]

Bitshares is a good project, stamp of approval here.

Well it is still new lets see how long they will last this time. PTS is already done you can see this today.

I do like alot of the concepts they have implemented but I don't follow them much. As long as they aren't diluting the float it should do well.

[FandangledGizmo]

Bitshares is a good project, stamp of approval here.

Well it is still new lets see how long they will last this time. PTS is already done you can see this today.

That's because on Nov 5th BitShares PTS became part of BitSharesX, they also added BitShares DNS and also as yet unreleased BitShares VOTE. So now the X will drop from BitSharesX and it will just be one BitShares platform.

So BitShares PTS is falling cuz it's pretty much over in its current form. Some people are looking at rebranding it as just PTS and continuing it that way.

You jokeing ? Aren't you ? So what happed to the people that bought at 20$ ? They fucked now?

PTS isn't a regular coin it gets you shares in new projects. So people who held it at at the end of Feb got shares in BitSharesX, since then PTS was also given shares in BitShares DNS (Namecoin but much cooler.) and that had a $6 million value before the merger. They also got shares in BitShares Music http://peertracks.com/ which is still raising funds & also BitShares VOTE & Play. So owning PTS got you PTS and shares in all those things if you held it on the snapshot date.

On Nov 5th they were merged & given shares in the new BitShares (BitShares X is dropping the X)

So yeah they've done pretty well and as I say people are looking at carrying on PTS as it's own thing, but BitShares PTS is being entirely merged into the new BitShares at no.4 this week.

[MisO69]

Bitshares is a good project, stamp of approval here.

Well it is still new lets see how long they will last this time. PTS is already done you can see this today.

That's because on Nov 5th BitShares PTS became part of BitSharesX, they also added BitShares DNS and also as yet unreleased BitShares VOTE. So now the X will drop from BitSharesX and it will just be one BitShares platform.

So BitShares PTS is falling cuz it's pretty much over in its current form. Some people are looking at rebranding it as just PTS and continuing it that way.

You jokeing ? Aren't you ? So what happed to the people that bought at 20$ ? They fucked now?

PTS isn't a regular coin it gets you shares in new projects. So people who held it at at the end of Feb got shares in BitSharesX, since then PTS was also given shares in BitShares DNS (Namecoin but much cooler.) and that had a $6 million value before the merger. They also got shares in BitShares Music http://peertracks.com/ which is still raising funds & also BitShares VOTE & Play. So owning PTS got you PTS and shares in all those things if you held it on the snapshot date.

On Nov 5th they were merged & given shares in the new BitShares (BitShares X is dropping the X)

So yeah they've done pretty well and as I say people are looking at carrying on PTS as it's own thing, but BitShares PTS is being entirely merged into the new BitShares at no.4 this week.

I would also like to add that people who bought PTS at $20.00 each got their value back, and then some, in BTSX. Now with the final merge that happened Nov 5 they got even more. So it held its value accordingly and now is dropping because all that value has been put into the new super DAC BTS.

Looking forward to seeing BTS move to #2 in the next few months. I'm sure we will get there.

[sgi02]

came out of nowhere

Just like BitShares PTS, but this time they got higher budget to scam the people.

Can't say I agree... or disagree. Only time will tell.

[sumantso]

The short answer to your question is Daniel Larimer is a genius.

Fully agree with that. I don't like some of his recent decisions, or how the community is going ahead in an ad-hoc manner (with some operating on malicious intents), like HackFisher used a snapshot after 5 days of announcement which has made me suffer losses (again!), but one can't deny the vision of BM and his ability to back it up with his talent.

Toast, when he started working with them at their place, mentioned that the guys already working were on another level altogether which surprised me as from his earlier posts he seemed very competent in his own right.

[DrGrid]

Bitshares just shows again that Crypto Markets base their value on pure speculation. They have nothing really working as of yet. Exchanges need to upgrade, or manually restart their client minimum on a daily basis, some of their contracts do not run as smoothly as planned and some of the core devs have this project beginning of this year already. Everything may seems really shiny and polished at this point, but I am still waiting to see it in full action.
Not to say that I dislike the project. I mined Protoshares last year with a Amazon AWS farm. Bitshares surely has tried to live up to their promise so far. People just need to calm down and give it more time. Everybody in crypto seems to expected things to be done within maximum half a year. The truth is far from that. What is being built here is the foundation of the most complex systems there will be. Building these takes time and there will be a lot of trial, error and improvement.
It will be interesting to see Bitshares compete with other DAOs in the future, which still needs to be built. I spoke with Vitalik Buterin the other day and he told me, they are aiming at end of March for their launch date. The first time I spoke with somebody from Ethereum they told me mid October.
Just a pity that not every open source project with a faithful team that has been going on since more than a year got the recognition of Bitshares and Ethereum.

[venlo]

PTS just dumped -50%

explanations?

[testz]

PTS just dumped -50%

explanations?

https://bitsharestalk.org/index.php?topic=10844

TL;DR PTS value dumped because they "merged" into new BitShares DAC (BTS)

[venlo]

PTS just dumped -50%

explanations?

https://bitsharestalk.org/index.php?topic=10844

TL;DR PTS value dumped because they "merged" into new BitShares DAC (BTS)

the people who just bought them close to formal price must not have known 

[testz]

PTS just dumped -50%

explanations?

https://bitsharestalk.org/index.php?topic=10844

TL;DR PTS value dumped because they "merged" into new BitShares DAC (BTS)

the people who just bought them close to formal price must not have known  

Sure the people which know what is it PTS from 5 Nov 2013 know what they buy. People who don't know/care about what PTS has "under the hood" and don't read news from https://bitsharestalk.org can lost, if speculate on PTS price  

[FandangledGizmo]

The short answer to your question is Daniel Larimer is a genius.

Fully agree with that. I don't like some of his recent decisions, or how the community is going ahead in an ad-hoc manner (with some operating on malicious intents), like HackFisher used a snapshot after 5 days of announcement which has made me suffer losses (again!), but one can't deny the vision of BM and his ability to back it up with his talent.

Toast, when he started working with them at their place, mentioned that the guys already working were on another level altogether which surprised me as from his earlier posts he seemed very competent in his own right.

Yip, I'm especially unhappy with the aspects of the new dilution/inflation myself.

I can't deny though BitUSD, BitGold & BitSilver etc. are world changers. I can't deny Daniel is a genius. I'm also seeing on the forums that from remittances, online shopping, merchant & user adoption, a new website & even talk of a BitUSD debit card, that they really are going to do everything in their power to make sure BitShares are the ones that bootstrap BitAssets. I'm pretty certain that the only way for the BTS share price to go is up for the rest of this year.

I still think it will be up to their new marketing talent like Method to use those tools to promote it in places like Argentina, where I think they will love BitUSD because of their high inflation.

[Slingshot]

The short answer to your question is Daniel Larimer is anything but a genius.


 Fully agree with that. I don't like ANY of his recent decisions, or how the community is going ahead in malicious intent to scam, swindle and cheat all previous holders while grabbing as much stash for themselves as possible with the recent X share scam, and of course that isn't enough either (it never is for stupid/greedy scamming criminals) so alas their stealing more with more carnival scams by even more massive inflation / i.e. theft from shareholders.

 I'm especially unhappy with the aspects of the new dilution/inflation too. Most unhappy. But at least there will be a most happy ending. Read on...

 I can't deny though BitUSD, BitGold & BitSilver etc. are just more empty promises about a year later, with this series of newest scams now laid out and rolling along, and of course with ever more swindling of new fools and dupes as much as possible  that thought there were serious people instead of scam artists out to swindle from dupes and fools.

 These most obvious shills above call Daniel Larimer a genius. You have to be insane to state such a thing here.

 With nothing but hot air  and fluff, and with nothing adding any value what so ever with their actions going on a year now except for empty statements about remittances, online shopping, merchant & user adoption, a new website & even talk of a BitUSD debit card.

 JUST SHUT UP! Shut the fuck up already! These scammers deserve a microphone (extra large) up their bun-holes. And after all their about to be sharing prison cells with Buba for their criminal acts, a long list of them from the looks of things...But hey, maybe they can fool and dupe the SEC just as easy as many here??

 The nonsense replies above read like a horror show, or a really horrible attempt to RE-RE-RE-PUMP this now flee bag pile of scam-crap to ever more dupes and fools.

 Enough already. With the SEC hot on these clowns and jokers heels they are apt to be spending many a years behind bars for this kind of grand theft series of endless schemes and nothing but hot air amounting to nothing AT ALL. Or at least that's how many of us seeing this today, and many more will extremely fast!

 PTS  & X, we're so sorry...but we must steal ever more, so let's steal (inflate away) just like the FED, BOE, BOJ, BOC, and even soon the ECB. After all we're intitled to the fools and dupes money too? right? WRONG.


 SEC, are you listening?? Best put a red mark next to these obvious scamming thieves.


  Say what? Their called and termed Fiduciary duties geniuses!!! That has been in full breech for the longest with PTS, bla, bla, bla, and now X. Forgetaboutit, these are classic scam artists with a brand new twist and nothing else. Their a dime a dozen in these parts and this is exactly what this is too, imo, and I don't give a rats ass what anyone else thinks and states otherwise. This REEKS HORRIBLY.

 So let's feed them to the SEC whom is looking for many more perfect examples in these parts, and here we have many ALL IN ONE Giant series of scams that fooled many a fool and dupe.

 Never again assholes. NEVER AGAIN.

 Sell it all fools & dupes. And don't ever trust these crooks again.

 Last thought: be sure to be real nice to buba in that prison cell block...lol...I already hear the SEC laughing nonstop at these swindling, idiots. Daniel Larimer : What a genius. NOT. It's called stupid/greedy/scammer that crossed far too many lines to ignore anymore. And all involved parties did breech their  Fiduciary duties to their shareholders. But then this is a non-corporation that no one party owns. Tell that to the SEC bitches. And to Buba too, lol...

[FandangledGizmo]

@ Slingshot

They're not scam artists. They received $5 million worth of donations by June.
They could have taken that if they were running a scam. Instead they hired devs, worked their arses off and delivered DPOS and BitAssets to the world.

He is a genius. BitAssets are a game changer. Look at them charging negative interest rates in Germany. Look at the deposit confiscations in Cyprus. Expect more of the same in future. BitUSD lets people hold the value of the dollar in a decentralised way that earn far more interest than you'll earn in a bank. It's a game changer. BitAssets like BitUSD will change the world. http://whatisbitusd.com/

I'm not a pure shill, though I do own BTS. I'm actually probably the person that disagreed most on their forum with their new dilution system.

The reality is though BitAssets will change the world. BitShares is a few months ahead of any real competition, they have the best talent and they're about to unleash marketing for the first time. If anything has the chance to overtake Bitcoin in less than a year it's BitShares.

If you like money buy BitShares this month imo.

[testz]

@ Slingshot

Read your post, I agree that you can have your opinion and you can share it here, but to be honest I don't get your point and decide to read your previous posts... it's an explosion of the brain, the summary of your posts: politics/money, money/politics, all will be bad, Bitcoin is Freedom, bad, bad, Bitcoin is Freedom, Better buy bitcoins, politics, all will be bad... I stop at 7th page  

PS: I don't understand why you decide to write something here, according history of your posts, BitShares not something which interested for you.

[jwinterm]

Apparently the man is a genius and I shouldn't question his infinite wisdom, but why is DPoS such a great idea? 100 voters to validate each block, right? You know what else has 100 voting members (and one extra for tie breakers) - the US Senate, a veritable model of efficiency and incorruptibility if there ever was one, right?