[Bitshares] bitUSD discussion - page 10.

ChuckOne

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Quote from: toast on August 22, 2014, 02:46:43 PM

Quote from: ChuckOne on August 22, 2014, 02:29:18 PM

Statements such as:

Quote from: ataranlen on April 18, 2011, 06:03:11 AM

...

do not inspire confidence, I have to say. They rather tell me that people endorsing this system do have intentions I am not willing to share.

They do not want to change the status quo but rather repeat history and pull out money from people.

As usual I am concerned, so the best way out I know is asking.

"they" here is a random pumping zealot, not a member of the team

Alright. But he seems pretty confident about his "idea".

toast

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Activity: 1582

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Quote from: ChuckOne on August 22, 2014, 02:29:18 PM

Statements such as:

Quote from: ataranlen on April 18, 2011, 06:03:11 AM

...

do not inspire confidence, I have to say. They rather tell me that people endorsing this system do have intentions I am not willing to share.

They do not want to change the status quo but rather repeat history and pull out money from people.

As usual I am concerned, so the best way out I know is asking.

"they" here is a random pumping zealot, not a member of the team

TaunSew

hero member

Activity: 756

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Quote from: FandangledGizmo on August 22, 2014, 02:44:30 PM

Quote from: TaunSew on August 22, 2014, 02:39:46 PM

4/5+ of biTshares' volume comes from Chinese exchanges.

http://coinmarketcap.com/currencies/bitshares-x/#markets

Actually it's less than that if we look at top 5 (Poloniex is only $14K versus $2+ million). Practically all the Bitshare trading is done on Chinese exchanges which are alleged to engage in manipulation.

How Big is the NXT Chinese community on your forums?
Maybe you should look at ours...
https://bitsharestalk.org/index.php?board=4.0

Btc38 also has an English site, so I've traded on there myself, including BTSX/CNY because of volumes.

You NXT guys are awesome

That wasn't really my point. I know that most of NXT volume is Chinese too but not to the same extent. Maybe only $10K - $15K is non-Chinese volume as of today at $57K volume.

When the Chinese are spending like $2+ million volume on Bitshares (while non-Chinese is like $10K-$15K), it makes us wonder if this is all manipulation or a lot of future Chinese bagholders.

FandangledGizmo

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Quote from: TaunSew on August 22, 2014, 02:39:46 PM

4/5+ of biTshares' volume comes from Chinese exchanges.

http://coinmarketcap.com/currencies/bitshares-x/#markets

Actually it's less than that if we look at top 5 (Poloniex is only $14K versus $2+ million). Practically all the Bitshare trading is done on Chinese exchanges which are alleged to engage in manipulation.

How Big is the NXT Chinese community on your forums?
Maybe you should look at ours...
https://bitsharestalk.org/index.php?board=4.0

Btc38 also has an English site, so I've traded on there myself, including BTSX/CNY because of volumes.

You NXT guys are awesome

TaunSew

hero member

Activity: 756

Merit: 506

4/5+ of biTshares' volume comes from Chinese exchanges.

http://coinmarketcap.com/currencies/bitshares-x/#markets

Actually it's less than that if we look at top 5 (Poloniex is only $14K versus $2+ million). Practically all the Bitshare trading is done on Chinese exchanges which are alleged to engage in manipulation.

ChuckOne

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Activity: 364

Merit: 250

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Quote from: FandangledGizmo on August 22, 2014, 02:28:46 PM

Is that the same ChuckOne who was posting in the ethereum Bitshares collaboration thread?

https://bitsharestalk.org/index.php?topic=6990.msg95311#msg95311

Yes, he is.

Quote from: FandangledGizmo on August 22, 2014, 02:28:46 PM

Pretty hysterical if it is

Reeks of desperation.

NXT tried to do a similar full on anti-marketing campaign with Ethereum I think. (Which I'm not an investor in at all.)

Basically anyone that's not NXT is evil

I do not think that. Why do you think we would want cooperation? Cooperation is only possible between peers with the same intentions. And that is what I am going to question here.

If the intentions are good, we are alright. If not, I got problems to endorse a cooperation.

ChuckOne

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Quote from: instacalm on August 22, 2014, 02:17:17 PM

ChuckOne I seriously facepalmed when I read this topic, is this the new NXT promotion derived from lack of BTS understanding? Not cool

This is the way to understand why we would endorse a system where humans can control the money supply? It will definitely get misused.

This thread is about elucidation of people (and me) to learn what are the properties and the limits of such system and are there dangers to be known by investors.

Statements such as:

Quote from: ataranlen on April 18, 2011, 06:03:11 AM

Quote from: ataranlen on April 18, 2011, 05:58:56 AM

The Federal Reserve controls the USD supply.

Replace "Federal Reserve" with "DAC" and add "bit" to "USD"...

The DAC controls the bitUSD supply.

CONGRATULATIONS! YOU'VE JUST INVENTED FEDERAL RESERVE 2.0!

That's the goal. Now what if you had a chance to purchase shares in the Fed in 1920?

Sent from my SCH-S720C using Tapatalk 2

do not inspire confidence, I have to say. They rather tell me that people endorsing this system do have intentions I am not willing to share.

They do not want to change the status quo but rather repeat history and pull out money from people.

As usual I am concerned, so the best way out I know is asking.

FandangledGizmo

legendary

Activity: 1138

Merit: 1001

Is that the same ChuckOne who was posting in the ethereum Bitshares collaboration thread?

https://bitsharestalk.org/index.php?topic=6990.msg95311#msg95311

Pretty hysterical if it is

Reeks of desperation.

NXT tried to do a similar full on anti-marketing campaign with Ethereum I think. (Which I'm not an investor in at all.)

Basically anyone that's not NXT is evil

Indemnified

full member

Activity: 216

Merit: 100

Quote from: PilotofBTC on August 22, 2014, 02:14:18 PM

Where is the fractional lending? Perhaps I am missing it?

You can borrow bitUSD against XTS (BTSX?). You can only borrow up to 50% of your collateral (XTS) and if the value of the collateral drops the loan (short) is covered.

There is no fractional reserve. OP is posting without any knowledge of how BitsharesX is intended to work. In fact, the experiment is attempting to accomplish exactly the opposite of what OP is suggesting.

Two of the major memes at their website are:

The revolution will not be centralized.

and

Andrew Jackson's "I killed the bank"

instacalm

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ChuckOne I seriously facepalmed when I read this topic, is this the new indirect NXT promotion derived from lack of BTS understanding? Not cool

Anders

full member

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BitSharesX is at the third position now and is skyrocketing: http://coinmarketcap.com/

I must learn more about BitSharesX! It's something about short and long investments.

PilotofBTC

legendary

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Where is the fractional lending? Perhaps I am missing it?

You can borrow bitUSD against XTS (BTSX?). You can only borrow up to 50% of your collateral (XTS) and if the value of the collateral drops the loan (short) is covered.

toast

sr. member

Activity: 1582

Merit: 253

Quote

These 101 delegates are responsible for including transactions on the bitshares network. Now think about this. The DAC attempts to set monetary policy for the "bit assets" depending on the market price. If there are more sellers, the DAC destroys bit assets. If there are more buyers, the DAC prints more bit assets. So, whoever controls the transactions included on the blockchain controls the DAC or monetary policy that the DAC enacts on the entire network. Who controls the transactions included on the blockchain? The 101 delegates.

Also total FUD, the delegates do not dictate the supply of BitUSD, the traders do. Delegates are only used for the consensus protocol, if they exclude transactions to try to skew the peg then at best they can lose money and get fired...

Brilliantrocket

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Activity: 826

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This is a fucking travesty. What kind of degenerate scum would support this blatantly regressive scheme?

toast

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Quote from: ChuckOne on August 22, 2014, 02:08:39 PM

Quote from: StanLarimer on August 22, 2014, 01:59:30 PM

Quote from: ChuckOne on August 22, 2014, 12:27:40 PM

Actually, I do not speculate on things like those but regarding the recent upsurge of the trust in BitShares I am curious about the opinion and insights of others.

I mean how could anybody in the crypto community would want to mirror the FED?

I cannot believe that to be true.

Precisely. Anyone who has done their homework and spent any time at all on bitsharestalk.org over the past year knows that BitShares is the antidote to the Federal Reserve's 100+ years of economic atrocities.

But do yourselves a favor and study before you decide if this is the Next Big Thing or not.

"Knowledge and Understanding is the ultimate Proof of Work."

I am not sure if it is an antidote or just a replacement that changes nothing.

Not sure if you read http://invictus-innovations.com/bitshares-as-dac-bank/

But fractional reserve lending is about robbing the wealth of others. I am not sure if that is in the best interest of the crypto community.

Except it's 150%+ reserve, not fractional reserve.
Does that change how you feel?

ChuckOne

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Quote from: StanLarimer on August 22, 2014, 01:59:30 PM

Quote from: ChuckOne on August 22, 2014, 12:27:40 PM

Actually, I do not speculate on things like those but regarding the recent upsurge of the trust in BitShares I am curious about the opinion and insights of others.

I mean how could anybody in the crypto community would want to mirror the FED?

I cannot believe that to be true.

Precisely. Anyone who has done their homework and spent any time at all on bitsharestalk.org over the past year knows that BitShares is the antidote to the Federal Reserve's 100+ years of economic atrocities.

But do yourselves a favor and study before you decide if this is the Next Big Thing or not.

"Knowledge and Understanding is the ultimate Proof of Work."

I am not sure if it is an antidote or just a replacement that changes nothing.

Not sure if you read http://invictus-innovations.com/bitshares-as-dac-bank/

But fractional reserve lending is about robbing the wealth of others. I am not sure if that is in the best interest of the crypto community.

toast

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Activity: 1582

Merit: 253

this is hilarious, please don't stop

StanLarimer

hero member

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Quote from: ChuckOne on August 22, 2014, 12:27:40 PM

Actually, I do not speculate on things like those but regarding the recent upsurge of the trust in BitShares I am curious about the opinion and insights of others.

I mean how could anybody in the crypto community would want to mirror the FED?

I cannot believe that to be true.

Precisely. Anyone who has done their homework and spent any time at all on bitsharestalk.org over the past year knows that BitShares is the antidote to the Federal Reserve's 100+ years of economic atrocities.

But do yourselves a favor and study before you decide if this is the Next Big Thing or not.

"Knowledge and Understanding is the ultimate Proof of Work."

bitcoinpaul

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Activity: 910

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Who's the user biophil?

ChuckOne

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Merit: 250

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Actually, I do not speculate on things like those but regarding the recent upsurge of the trust in BitShares I am curious about the opinion and insights of others.

I mean how could anybody in the crypto community would want to mirror the FED?

I cannot believe that to be true.

Topic: [Bitshares] bitUSD discussion - page 10. (Read 18505 times)