Longtime Investor - I am out

[gamey]

My brief interest in NXT died the minute they had some huge announcements about Gocoin, the price was extremely pumped just to get completely dumped afterwards.. A known and respectful member of their community scammed many people (unfortunately I have some suspicious that this guy is part of this community here so be careful  who you trust ..). NXT has some very valuable members, good potential but also a lot of scamers who I think in the long run will unfortunately completely destroy NXT reputation.

Yep.  He likely is.  Scammers follow the money.  Thats how you win at anything in general.  Find out who is making money and why.  WIth scammers, set yourself up in a leadership role, make friends with EVERYONE.

Whether the scammers from NXT are active in our community I wouldn't guess.  However you can almost be assured their eyes are upon this forum with this new big pot of money being created.

[mf-tzo]

My brief interest in NXT died the minute they had some huge announcements about Gocoin, the price was extremely pumped just to get completely dumped afterwards.. A known and respectful member of their community scammed many people (unfortunately I have some suspicious that this guy is part of this community here so be careful  who you trust ..). NXT has some very valuable members, good potential but also a lot of scamers who I think in the long run will unfortunately completely destroy NXT reputation. On the other hand we have bytemaster and some others who never made promises that didn't fulfill. Invest in people first and the rest will come..

[gamey]

Hey Peter,

thanks for sharing your thoughts instead of just leaving.
From your post I read that your concern is mostly investment related and you are invested in BTSX and AGS, right?
So I guess your concern is not about the paradigm shift but more on the financial side.

  It's become abundantly clear with their recent decision that I3 is only looking out for their own interests at the expense of their investors/supporters.

I my point of view the disjunct set of investors' and I3's interests just became very small. They want BTS to succeed as much as you do.
Yeah, I3 switches gears and paradigms a lot. But in most cases they have a very good reason for that.
(E.g. not being able to liquidate funds to fund devs and operations, facing the problem that the available workforce is somehow starting to compete, ...)
And if they screw up, they'll fix it. Just have a look at toast, who put in enormous effort to make the people whole that lost the most due to the merger.

But I also shared a big concern of yours:
As an investor it was very blurry in what you really were investing when buying e.g. BTSX or DNS. Who was behind a DAC? What was I3 really committed to?
I my point of view this kept investors pretty much in the uncertain and may even hindered some from investing.
Actually, that 'flaw' is gone now.  Was the (still ongoing) transition handled nicely? I guess we all know the answer to that.
But the outcome is actually pretty good. I3 now has a clear focus and commitment. After the dust settles it should make you much more comfortable than before.
I also do not like the vesting of my funds but when looking at the bigger picture this merge is by far the best way to go.
Especially if you hold a big position in BTSX the recent events put you in a much better position.
If you disagree, I would be curious why.

I'd like to apologize for some reactions if your post was a genuine one. The post just checked a couple boxes which provokes this kind of reactions.

Bobb,

The reason for my decision is as follows:

- I3 has repeatedly shown that they are unwilling to commit to a singular course of action.
- I3 unilaterally makes decisions, ones which greatly affect shareholder value, without consulting investors.
- I3 shows no regard in honoring the commitments which initially enticed investment.

I3's intentions are at best ambiguous and the ease in which they are willing to compromise shareholder value is unsettling.  Even if you aren't currently affected by their recent decision, what leads you to believe that in the future your investment won't be subjected to a form of infringement at their hands?

One of my tenets of investing is "When in doubt, get out."

Peter

And what about NXT?  They don't even have a consistent leader.  The codebase is only as good as the leader.  Which also leads us to the point that if it became apparent Bytemaster wasn't acting in our interest someone could always attempt a fork.

Anyway, the irony here is that you're obviously a NXT supporter and not a longterm  supporter of Bitshares.  If you were a longterm supporter, you'd post under you real account to have more authority.  Authority which you obviously spend a lot of time trying to acquire by your effort spent typing.  This is the type of behavior that made me leave my brief interest in NXT and follow Bitshares.

[PeterLynch]

Hey Peter,

thanks for sharing your thoughts instead of just leaving.
From your post I read that your concern is mostly investment related and you are invested in BTSX and AGS, right?
So I guess your concern is not about the paradigm shift but more on the financial side.

  It's become abundantly clear with their recent decision that I3 is only looking out for their own interests at the expense of their investors/supporters.

I my point of view the disjunct set of investors' and I3's interests just became very small. They want BTS to succeed as much as you do.
Yeah, I3 switches gears and paradigms a lot. But in most cases they have a very good reason for that.
(E.g. not being able to liquidate funds to fund devs and operations, facing the problem that the available workforce is somehow starting to compete, ...)
And if they screw up, they'll fix it. Just have a look at toast, who put in enormous effort to make the people whole that lost the most due to the merger.

But I also shared a big concern of yours:
As an investor it was very blurry in what you really were investing when buying e.g. BTSX or DNS. Who was behind a DAC? What was I3 really committed to?
I my point of view this kept investors pretty much in the uncertain and may even hindered some from investing.
Actually, that 'flaw' is gone now.  Was the (still ongoing) transition handled nicely? I guess we all know the answer to that.
But the outcome is actually pretty good. I3 now has a clear focus and commitment. After the dust settles it should make you much more comfortable than before.
I also do not like the vesting of my funds but when looking at the bigger picture this merge is by far the best way to go.
Especially if you hold a big position in BTSX the recent events put you in a much better position.
If you disagree, I would be curious why.

I'd like to apologize for some reactions if your post was a genuine one. The post just checked a couple boxes which provokes this kind of reactions.

Bobb,

The reason for my decision is as follows:

- I3 has repeatedly shown that they are unwilling to commit to a singular course of action.
- I3 unilaterally makes decisions, ones which greatly affect shareholder value, without consulting investors.
- I3 shows no regard in honoring the commitments which initially enticed investment.

I3's intentions are at best ambiguous and the ease in which they are willing to compromise shareholder value is unsettling.  Even if you aren't currently affected by their recent decision, what leads you to believe that in the future your investment won't be subjected to a form of infringement at their hands?

One of my tenets of investing is "When in doubt, get out."

Peter

[changematey]

I think this thread already has more than enough people asking for your second id. So let me be the next one. What is your original id? And nxt, really? Thumb rule - most of the cryptos are spotty...nxt, more so: https://bitsharestalk.org/index.php?topic=8022.0

[Empirical1.1]

Sweet! Please dump so I can buy. What exchange?

Ahahah perfect answer 

  

[inarizushi]

Sweet! Please dump so I can buy. What exchange?

Ahahah perfect answer 

[bobb]

Hey Peter,

thanks for sharing your thoughts instead of just leaving.
From your post I read that your concern is mostly investment related and you are invested in BTSX and AGS, right?
So I guess your concern is not about the paradigm shift but more on the financial side.

  It's become abundantly clear with their recent decision that I3 is only looking out for their own interests at the expense of their investors/supporters.

I my point of view the disjunct set of investors' and I3's interests just became very small. They want BTS to succeed as much as you do.
Yeah, I3 switches gears and paradigms a lot. But in most cases they have a very good reason for that.
(E.g. not being able to liquidate funds to fund devs and operations, facing the problem that the available workforce is somehow starting to compete, ...)
And if they screw up, they'll fix it. Just have a look at toast, who put in enormous effort to make the people whole that lost the most due to the merger.

But I also shared a big concern of yours:
As an investor it was very blurry in what you really were investing when buying e.g. BTSX or DNS. Who was behind a DAC? What was I3 really committed to?
I my point of view this kept investors pretty much in the uncertain and may even hindered some from investing.
Actually, that 'flaw' is gone now.  Was the (still ongoing) transition handled nicely? I guess we all know the answer to that.
But the outcome is actually pretty good. I3 now has a clear focus and commitment. After the dust settles it should make you much more comfortable than before.
I also do not like the vesting of my funds but when looking at the bigger picture this merge is by far the best way to go.
Especially if you hold a big position in BTSX the recent events put you in a much better position.
If you disagree, I would be curious why.

I'd like to apologize for some reactions if your post was a genuine one. The post just checked a couple boxes which provokes this kind of reactions.

[jsidhu]

NXt has more devs it seems but core direction is in question after bad
decisions... I dont trust them as much as they have. If we adopt proposals based on community needs and get them right this may be final wave and rocket will leave station for moon.

I hope team is capable of being community
friendly next few weeks some rnr is needed...

[cube]

"Peter", if you are going away then post so on your old account.  What a load of rubbish.

Yes. Do tell us your old pseudonym if you want us to take you seriously.  And there is no need for a NXT-plug.

[johncitizen]

lmao, textbook

[testz]

Good luck, and come back if you change your opinion.

PS: Be careful with NXT they have much "non TF" devs, some of them even anonymous.

[House]

If this is a NXT shill, then so be it. On the off chance that this guy isn't a shill, please remember to be polite and nice to everyone no matter their opinions. We're a massive 45 million USD company, and we need to act like it - by always being professional and polite. It's vital that we manage to transform our community away from the cesspool that is the bitcoin community.

[Tuck Fheman]

Thanks Pete!

[Rune]

If this is a NXT shill, then so be it. On the off chance that this guy isn't a shill, please remember to be polite and nice to everyone no matter their opinions. We're a massive 45 million USD company, and we need to act like it - by always being professional and polite. It's vital that we manage to transform our community away from the cesspool that is the bitcoin community.

I'm curious, how did you find out about Bitshares? What "selling points" attracted you to this particular crypto?

Was a reddit post you made on /r/bitcoinmarkets

You mentioned DPOS, and somehow I didn't write it off as another shitcoin scam, but actually went to look up what it was, and once I realised how powerful DPOS is I was hooked.

Wow! Looks like that AMA did some good. I'm planning to put up a reddit ad in /r/bitcoinmarkets explaining what Bitshares is all about, wanna help out? Pay it forward to the Bitcoinmarkets crowd Now if only we could get Moral Agent in here!

Yeah absolutely. I plan to make a campaign targeting /r/bitcoin and bitcointalk as well. We can discuss our ideas on mumble at some point before launch