Bitshares X inflating due to bugs and hacks

brekyrself

hero member

Activity: 547

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Quote from: NEM minnow on October 28, 2014, 08:36:00 PM

Its also interesting to see how these projects were proposed and what they are today.

Exactly this. Look at any real world successful company, they all change and adapt to the current environment. I have been following BitShares closely, along with the other 2.0 projects, and all "changes" have benefited the community as a whole over the last 12 months (started with PTS).

Out of the major alts, the BitShares team has been the most up front and transparent. I also like how the lead dev Dan is not afraid to speak his mind, does not hide behind a forum handle, and looks for community feedback on major issues.

We can not compare crypto technologies with fortune 500 companies, this is the wild west and were all in for a wild ride. https://bitsharestalk.org/index.php?topic=10747.0

NEM minnow

member

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Yes. He is very public. We know who he is.

Here is a video of him speaking. http://cointalk.ca/cointalk-015-btcmiami-debate-featuring-ethereum-mastercoin-and-bitshares/

I saw this video when it first came out and this was the fist way I was introduced to Bitshares.

Three guys are speaking

Charles from Ethereum - current status - Charles left Ethereum, a big reorganization and Ethereum is still very much in question. Took lots of money. Hasn't delivered much.

J. R. - Mastercoin - current status - Mastercoin is just about dead. It has been killed by Counterparty. Mastercoin had a huge IPO which made J.R. rich and had a famous Maidsafe scam.

Dan - Bitshares - current status - It is working. There is some controversy though I don't really understand either Bitshares or or the controversy so I can't speak to it.

The point of this video is that being a dev that is public doesn't guarantee that a dev will stick around or that the platform will be successful.

Its also interesting to see how these projects were proposed and what they are today.

CLains

sr. member

Activity: 256

Merit: 250

Daniel Larimer, Bytemaster, main coder and man behind BitShares has 1383 posts right here on Bitcointalk registered July 27, 2010. He has 7186 posts on Bitsharestalk registered november 03, 2013. All his contributions are transparently available at Github. He goes to events holding presentations and is discussing openly with the competition. Go visit them at Virginia tech if you want.

More information,

http://wiki.bitshares.org
http://bitshares.org/
https://bitsharestalk.org/

Powered by BitShares Toolkit,

http://followmyvote.com/
http://peertracks.com/
http://dotp2p.io/

If there is an issue here, *trust* seems to be very low on the list. You know, it really is possible to disagree with a person or system without losing trust in them. There are lots of ideologically motivated people in this community who I would trust deeply, without therefore wanting to invest in their economically unsound projects.

NEM minnow

member

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Quote from: TinEye on October 28, 2014, 05:27:43 AM

Exactly what I feel. It has very neat features, and the tech is incredible.

NXT and Bitshares are both very innovative and are being eaten by greedy investors. Contrast to Counterparty who went ahead with their work and have now made a big breakthrough.

CounterParty burned all the Bitcoin initially donated to them too. It was impossible for them to run off with the money or scam people because they weren't ever able to see the money in the first place. Another good sign that somebody isn't trying to scam you and that it isn't a pump is when the devs don't get anything up front and aren't rich on day 1 of an unproven tech.

TinEye

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Quote from: Gentso1 on October 27, 2014, 09:20:52 PM

It should be noted that most of what tinyeye has stated is based on a very small amount of truth.

Finally someone stops deflecting and admits that it is the truth.

Quote from: NEM minnow on October 28, 2014, 05:07:48 AM

I'll admit the concept seems kind of neat, but this exact Bitshares platform has enough questionable factors in it for me not to invest.

Exactly what I feel. It has very neat features, and the tech is incredible.

NXT and Bitshares are both very innovative and are being eaten by greedy investors. Contrast to Counterparty who went ahead with their work and have now made a big breakthrough.

NEM minnow

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Merit: 10

I just listened to this podcast http://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-156-the-moolah-story

It tells the story about how Moolah and Mintpal were run and created by a scam artist.

A few people tried to say it was a scam but were screamed at and trolled endlessly by people that invested and thought they were going to make money off from it. Many of these people defending Moolah probably honestly believed in it. Had they know it was a scam, they wouldn't have invested in the first place.

I don't own any Bitshares, but I have followed it for 9 months and in that time have watched as time after time the plan for Bitshares has changed and things haven't happened as planned.

And now this thread reads just like the podcast states happened for Moolah.

It may or may not be a scam. I don't know, but there is definitely "some writing on the wall" of things not going right.

I'll admit the concept seems kind of neat, but this exact Bitshares platform has enough questionable factors in it for me not to invest.

For me, I am going to take the long approach of wait and see. If I come back in a year or two and things are great, I'll be convinced it is good.

My experience shows that if it is not legitimate, it won't last two years for sure.

Gentso1

full member

Activity: 156

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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... Roll Eyes

brekyrself

hero member

Activity: 547

Merit: 502

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.

TinEye

hero member

Activity: 639

Merit: 500

Quote from: juicyjuice87 on October 27, 2014, 06:33:18 PM

Quote from: TinEye on October 27, 2014, 11:46:46 AM

Quote from: toast on October 27, 2014, 10:14:33 AM

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://bitcointalksearch.org/topic/ann-nxt-descendant-of-bitcoin-303898 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.

juicyjuice87

sr. member

Activity: 490

Merit: 250

Quote from: TinEye on October 27, 2014, 11:46:46 AM

Quote from: toast on October 27, 2014, 10:14:33 AM

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://bitcointalksearch.org/topic/ann-nxt-descendant-of-bitcoin-303898 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

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Activity: 639

Merit: 500

Quote from: cass on October 27, 2014, 01:48:22 PM

Quote from: CoinHoarder on October 03, 2014, 04:07:00 PM

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.

BootstrapCoinDev

full member

Activity: 154

Merit: 100

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

cass

newbie

Activity: 9

Merit: 0

Quote from: CoinHoarder on October 03, 2014, 04:07:00 PM

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 …

TinEye

hero member

Activity: 639

Merit: 500

Quote from: CLains on October 27, 2014, 12:34:03 PM

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.

CLains

sr. member

Activity: 256

Merit: 250

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

hero member

Activity: 639

Merit: 500

Quote from: robrigo on October 27, 2014, 09:46:19 AM

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.

TinEye

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Activity: 639

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Quote from: robrigo on October 27, 2014, 09:46:19 AM

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

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Activity: 639

Merit: 500

Quote from: toast on October 27, 2014, 10:14:33 AM

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.

toast

sr. member

Activity: 1582

Merit: 253

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.

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

Quote from: ?? on ??

Quote from: TinEye on October 03, 2014, 11:16:09 AM

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 Sad

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 !

Topic: Bitshares X inflating due to bugs and hacks (Read 4384 times)