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Offline stevejobsghost

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Why should I buy bitshares?
« on: October 30, 2014, 10:11:48 PM »

It seems like bitshares is crashing, why is everyone selling?  Has the bubble burst?

Offline Ander

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Re: Why should I buy bitshares?
« Reply #1 on: October 30, 2014, 10:17:45 PM »
It seems like bitshares is crashing, why is everyone selling?  Has the bubble burst?

The end of august price, which had gone up 500% in a couple weeks, was too high.  It had to correct, and this is part of that.

This is now the panic sell at/near the bottom.  (Hopefully.  But its of course possible that people could panic even harder and sell it down further).   Obviously if I could pick the exact bottom I would be doing much better at this than I am. 
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Offline xeroc

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Re: Why should I buy bitshares?
« Reply #2 on: October 30, 2014, 10:18:39 PM »
maybe early christmas?
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zerosum

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Re: Why should I buy bitshares?
« Reply #3 on: October 30, 2014, 10:21:54 PM »

Aside from the fact that bubbles do not exist, I have nothing to help you with to figure it out.

Offline hadrian

Re: Why should I buy bitshares?
« Reply #4 on: October 30, 2014, 10:31:07 PM »
I'm trying to persuade myself not to buy BTSX at the moment.

Why?

Because I need some new trousers (pants?). The pair I wear most has developed holes where there shouldn't necessarily be holes.

That is all.
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Offline Ander

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Re: Why should I buy bitshares?
« Reply #5 on: October 30, 2014, 10:33:44 PM »
Here are my 7 reasons why you should buy bitshares:

1) Like Bitcoin, it is an implementation of the Blockchain technology: A decentralized ledger.

2) DPoS.   DPoS doesn't waste money through inflation in order to secure the network.  DPoS > PoW.

3) BitUSD.  BitUSD provides stability and solves bitcoin's problem where merchants dont want to hold it due to price volatility.  It even provides yield!

4) Paid Delegates.  Bitshares has the ability to fund its own development through paid delegates.  This allows Bitshares holders, by majority vote, to elect someone to be paid (through inflation) to do whatever we are hiring them for.   This gives us the ability to hire developers to improve Bitshares.  It could even result in us hiring many developers away from other projects where they wouldn't get paid, poaching the talent from any competition.  Not: Inflation caused by this is maxed at a rate lower than bitcoin inflation.  Realistically it will likely be more like 2% or so, which is quite low.

5) Speed.   10 second transaction times (or even lower) with DPoS is greatly superior to bitcoin's 10 minute transaction speed or Litecoin's 1 minute.

6) BitAsset Exchange.  Other BitAssets like bitGLD are useful to allow exposure to whatever price volatility you want.  Bitshares is an exchange, not just a currency.  Additionally, trading fees are used to burn shares of BTSX, reducing the overall supply (counteracting dilution!)

7) Other features.   Anonymity (TITAN), and Upcoming features such as VOTE, DNS, Turing complete scripting.
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Offline xeroc

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Re: Why should I buy bitshares?
« Reply #6 on: October 30, 2014, 10:34:22 PM »
lol .. I have the exact same issue with my trousers ..

@Ander .. nice collection .. put it on reddit .. maybe even some bitcoin related subreddits
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Offline hadrian

Re: Why should I buy bitshares?
« Reply #7 on: October 30, 2014, 10:34:54 PM »
Here are my 7 reasons why you should buy bitshares:

1) Like Bitcoin, it is an implementation of the Blockchain technology: A decentralized ledger.

2) DPoS.   DPoS doesn't waste money through inflation in order to secure the network.  DPoS > PoW.

3) BitUSD.  BitUSD provides stability and solves bitcoin's problem where merchants dont want to hold it due to price volatility.  It even provides yield!

4) Paid Delegates.  Bitshares has the ability to fund its own development through paid delegates.  This allows Bitshares holders, by majority vote, to elect someone to be paid (through inflation) to do whatever we are hiring them for.   This gives us the ability to hire developers to improve Bitshares.  It could even result in us hiring many developers away from other projects where they wouldn't get paid, poaching the talent from any competition.  Not: Inflation caused by this is maxed at a rate lower than bitcoin inflation.  Realistically it will likely be more like 2% or so, which is quite low.

5) Speed.   10 second transaction times (or even lower) with DPoS is greatly superior to bitcoin's 10 minute transaction speed or Litecoin's 1 minute.

6) BitAsset Exchange.  Other BitAssets like bitGLD are useful to allow exposure to whatever price volatility you want.  Bitshares is an exchange, not just a currency.  Additionally, trading fees are used to burn shares of BTSX, reducing the overall supply (counteracting dilution!)

7) Other features.   Anonymity (TITAN), and Upcoming features such as VOTE, DNS, Turing complete scripting.


That's all well and good, but what if I need new trousers (pants)?

Edit: Let me edit this to add  +5% +5% +5% for you Ander - the reasons you give may lead to me having to wear shorts throughout winter. (I live in the northern hemisphere)
« Last Edit: October 30, 2014, 10:38:49 PM by hadrian »
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Offline luckybit

Re: Why should I buy bitshares?
« Reply #8 on: October 30, 2014, 10:35:55 PM »
It seems like bitshares is crashing, why is everyone selling?  Has the bubble burst?

The reason to buy Bitshares is to trade on a decentralized exchange. The reason is BitBTC, BitGLD and BitUSD.

If you want to make money you can make money by holding BitUSD while the price of BTSX goes down.
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Offline luckybit

Re: Why should I buy bitshares?
« Reply #9 on: October 30, 2014, 10:38:02 PM »
It seems like bitshares is crashing, why is everyone selling?  Has the bubble burst?

The end of august price, which had gone up 500% in a couple weeks, was too high.  It had to correct, and this is part of that.

This is now the panic sell at/near the bottom.  (Hopefully.  But its of course possible that people could panic even harder and sell it down further).   Obviously if I could pick the exact bottom I would be doing much better at this than I am.
I predict the bottom is around 0.01-0.015. We have some down to go so it's a good time to either buy BTS or if you're in BTS then buy BitUSD. BTS will go down because Bitcoin is going to keep going down whether or not people sell BTSX.

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Offline Ander

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Re: Why should I buy bitshares?
« Reply #10 on: October 30, 2014, 10:42:34 PM »
I predict the bottom is around 0.01-0.015. We have some down to go so it's a good time to either buy BTS or if you're in BTS then buy BitUSD. BTS will go down because Bitcoin is going to keep going down whether or not people sell BTSX.

Well, we hit 1.57 cents this morning. 


You say bitcoin is going to keep going down, others say its going to go up...
I agree that if bitcoin were to go to $200, BTSX would go to 1 cent. 

I see bitcoin rising back over $400 however.  Of course, I could be wrong again. :D
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Tuck Fheman

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Re: Why should I buy bitshares?
« Reply #11 on: October 30, 2014, 10:56:00 PM »
why is everyone selling?

lulz @ "everyone". I'm buying the weak hands BTSX. Perhaps I'm the only one, but I seriously doubt it.

Offline speedy

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Re: Why should I buy bitshares?
« Reply #12 on: October 30, 2014, 10:58:45 PM »
OP: You should buy BitShares because you know that BitUSD will be of great value to thousands of people in South America who are banned from buying dollars.

Amongst other reasons.

Offline Ander

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Re: Why should I buy bitshares?
« Reply #13 on: October 30, 2014, 11:00:09 PM »
why is everyone selling?

lulz @ "everyone". I'm buying the weak hands BTSX. Perhaps I'm the only one, but I seriously doubt it.

I did too, but too early. :( 
Already all in now at ~2.1 cents a share.
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Offline Troglodactyl

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Re: Why should I buy bitshares?
« Reply #14 on: October 30, 2014, 11:26:40 PM »
Here are my 7 reasons why you should buy bitshares:

1) Like Bitcoin, it is an implementation of the Blockchain technology: A decentralized ledger.

2) DPoS.   DPoS doesn't waste money through inflation in order to secure the network.  DPoS > PoW.

3) BitUSD.  BitUSD provides stability and solves bitcoin's problem where merchants dont want to hold it due to price volatility.  It even provides yield!

4) Paid Delegates.  Bitshares has the ability to fund its own development through paid delegates.  This allows Bitshares holders, by majority vote, to elect someone to be paid (through inflation) to do whatever we are hiring them for.   This gives us the ability to hire developers to improve Bitshares.  It could even result in us hiring many developers away from other projects where they wouldn't get paid, poaching the talent from any competition.  Not: Inflation caused by this is maxed at a rate lower than bitcoin inflation.  Realistically it will likely be more like 2% or so, which is quite low.

5) Speed.   10 second transaction times (or even lower) with DPoS is greatly superior to bitcoin's 10 minute transaction speed or Litecoin's 1 minute.

6) BitAsset Exchange.  Other BitAssets like bitGLD are useful to allow exposure to whatever price volatility you want.  Bitshares is an exchange, not just a currency.  Additionally, trading fees are used to burn shares of BTSX, reducing the overall supply (counteracting dilution!)

7) Other features.   Anonymity (TITAN), and Upcoming features such as VOTE, DNS, Turing complete scripting.


That's all well and good, but what if I need new trousers (pants)?

Edit: Let me edit this to add  +5% +5% +5% for you Ander - the reasons you give may lead to me having to wear shorts throughout winter. (I live in the northern hemisphere)

Who needs trousers?  Just stay home and buy BTS.

DISCLAIMER: This is not investment advice.

 

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