Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: Negative Post about Bitshares  (Read 3714 times)

0 Members and 1 Guest are viewing this topic.

Offline fuzzy

Negative Post about Bitshares
« on: August 18, 2014, 09:33:17 PM »

ttp://prestonbyrne.com/2014/08/17/dont-walk-away-run/

Perhaps  some food for thought.  I'll leave it up to you guys to read and begin the conversation though---school time for me :P
« Last Edit: January 25, 2015, 08:42:54 PM by vikram »
BROWNIE==DKP; BitShares is our Community! 
ShareBits Welcome to  the Sharing Economy w/ BeyondBitcoin.org Partners--ShareBits.io & OpenLedger.info
TIP FORMAT: #sharebits "ForumHandleInQuotes" Quanity Token_Name

Offline tonyk

  • Hero Member
  • *****
  • Posts: 3309
    • View Profile
Re: Negative Post about Bitshares
« Reply #1 on: August 18, 2014, 09:55:32 PM »
I do not know why but this reminds me of TV segment on my local TV, about a café accepting bitcoins.
I will never forget one of the viewer's texts, expressing his/her opinion:

"Bitcoin is great, but what if it gets hacked? You then hove nothing, because there is nothing behind it"

Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12074
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BTS: xeroc
  • GitHub: xeroc
Re: Negative Post about Bitshares
« Reply #2 on: August 18, 2014, 10:02:53 PM »
Id day the author is not so much up-to-date

I can remember exactly that there are several pages of discussion to ensure that 6) does not happen .. and when it does the system will have means to clean it up ..
Also the author makes as much assumptions as BM, the devs and a bigger part of the community does ..

besides that it's a quite 'nice' description of what bitShares will achieve :)
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

38PTSWarrior

  • Guest
Re: Negative Post about Bitshares
« Reply #3 on: August 18, 2014, 10:06:54 PM »
The more people who read the article, the more will join here because they would not want to hang out with the writer. Colors, pictures, writing style, as bad as the structure, red links.. It's an angry mans article.

Offline donkeypong

  • Hero Member
  • *****
  • Posts: 2331
    • View Profile
Re: Negative Post about Bitshares
« Reply #4 on: August 19, 2014, 04:50:15 AM »
The more people who read the article, the more will join here because they would not want to hang out with the writer. Colors, pictures, writing style, as bad as the structure, red links.. It's an angry mans article.

I agree with your critique. It's torturous and ponderous to read; talk about beating a dead horse of an argument. It would be fair if he'd stop to consider, just for a moment, that there might be something behind BitShares, a great demand that it is filling. He's a Bitcoin believer, so not a total moron, yet he fails to see that there's far more tangible substance to BitShares than there is to Bitcoin...the blockchain offers far more potential than a mere coin. Here are some interesting facts about the author of that piece, Mr. Byrne. First, he's a member of Ethereum's groupie group in London. So we know where his loyalties lie and why he's trying to bash BitShares. Obviously, he's not as open-minded as Vitalik or Hosk, et al. Second, he holds himself out as an expert in crypto regulation and a swanky securities lawyer-dude. In fact, Mr. Byrne was admitted as a solicitor less than three years ago.

His big advocacy issue appears to be the "crypto-ledger" which he says governments and banks should adopt. Such centralization would "enable a court to trace and fully reverse virtually every instance of fraud." Great, so that's why we need the blockchain? Evidently, you're not the first person to point out his issues with reading comprehension and with writing.

http://trilema.com/2014/in-which-we-teach-basic-reading-comprehension-to-a-certain-mr-preston-byrne/
http://www.samizdata.net/2013/10/preston-byrne-on-what-is-and-is-not-the-solution-to-the-housing-crisis/
http://www.cityam.com/blog/1395145295/why-independent-venice-should-adopt-dogecoin
http://www.adamsmith.org/blog/economics/help-to-what-moving-forward-from-conference-season/
« Last Edit: August 19, 2014, 04:59:16 AM by donkeypong »

Offline bytemaster

Re: Negative Post about Bitshares
« Reply #5 on: August 19, 2014, 05:08:17 AM »
I thought the article was quite entertaining... it has been a while since I read such a scathing review that said more about the author than about BTS. 

It was like someone trying to argue that Bitcoin is "impossible" simply because there is nothing behind it.    To understand BitShares and BitAssets all you need to know are some very fundamental facts:

1) A digital asset has a non-0 value.   (Proven by 300+ alts with non-0 values)
2) A collateralized loan is a safe loan if the collateral is relatively liquid and stable
3) Prediction Markets Work.

Someone attempting to argue against those facts has a very large uphill battle to fight. 

The straw man arguments and inaccuracies reveal that he doesn't have enough information to make a rational evaluation of the system and thus even if there were something wrong you cannot trust him to know what it was.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline donkeypong

  • Hero Member
  • *****
  • Posts: 2331
    • View Profile
Re: Negative Post about Bitshares
« Reply #6 on: August 19, 2014, 05:16:06 AM »
I thought the article was quite entertaining... it has been a while since I read such a scathing review that said more about the author than about BTS. 

It was like someone trying to argue that Bitcoin is "impossible" simply because there is nothing behind it.    To understand BitShares and BitAssets all you need to know are some very fundamental facts:

1) A digital asset has a non-0 value.   (Proven by 300+ alts with non-0 values)
2) A collateralized loan is a safe loan if the collateral is relatively liquid and stable
3) Prediction Markets Work.

Someone attempting to argue against those facts has a very large uphill battle to fight. 

The straw man arguments and inaccuracies reveal that he doesn't have enough information to make a rational evaluation of the system and thus even if there were something wrong you cannot trust him to know what it was.

Exactly. It's as if he showed up for court without having prepared for his case. The more you read, the less he clearly knows about BitShares. Facts? Research? Meat? Ammunition? Who needs those distractions when you have a point to make. Too busy spreading vapor (or is that vapour?).

Offline tonyk

  • Hero Member
  • *****
  • Posts: 3309
    • View Profile
Re: Negative Post about Bitshares
« Reply #7 on: August 19, 2014, 05:55:03 AM »
I thought the article was quite entertaining... it has been a while since I read such a scathing review that said more about the author than about BTS. 

It was like someone trying to argue that Bitcoin is "impossible" simply because there is nothing behind it.    To understand BitShares and BitAssets all you need to know are some very fundamental facts:


I am proud and happy when BM thinks like me (OK, I think like him). That is because, as with the times that we disagree, least one of us is correct.  :)

I do not know why but this reminds me of TV segment on my local TV, about a café accepting bitcoins.
I will never forget one of the viewer's texts, expressing his/her opinion:

"Bitcoin is great, but what if it gets hacked? You then have nothing, because there is nothing behind it"
« Last Edit: August 19, 2014, 06:04:37 AM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline cass

  • Hero Member
  • *****
  • Posts: 4327
  • /(┬.┬)\
    • View Profile
Re: Negative Post about Bitshares
« Reply #8 on: August 19, 2014, 05:57:02 AM »
Good morning,

enjoyed reading with my mornin coffee :)!
Thx for entertaining me.

thx for sharing
█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

merockstar

  • Guest
Re: Negative Post about Bitshares
« Reply #9 on: August 19, 2014, 06:42:17 AM »
it has become imperative that we create bitMarmot as soon as possible, and peg it to the actual real world value of a live marmot.

Offline tonyk

  • Hero Member
  • *****
  • Posts: 3309
    • View Profile
Re: Negative Post about Bitshares
« Reply #10 on: August 19, 2014, 06:48:01 AM »
it has become imperative that we create bitMarmot as soon as possible, and peg it to the actual real world value of a live marmot.

It will be easier to just peg the author to bitMoron... At least we know that this peg will hold  :)
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Ben Mason

  • Hero Member
  • *****
  • Posts: 1063
  • Integrity & Innovation, powered by Bitshares
    • View Profile
  • BTS: benjojo
Re: Negative Post about Bitshares
« Reply #11 on: August 19, 2014, 07:16:04 AM »
it has become imperative that we create bitMarmot as soon as possible, and peg it to the actual real world value of a live marmot.

It will be easier to just peg the author to bitMoron... At least we know that this peg will hold  :)

Lol, you just made my morning tea come out my nose....

Offline gamey

  • Hero Member
  • *****
  • Posts: 2253
    • View Profile
Re: Negative Post about Bitshares
« Reply #12 on: August 19, 2014, 07:25:46 AM »

We just need to get him to send some links to bitshares.org ?  (naw, haven't read it..)
I speak for myself and only myself.

Offline mf-tzo

  • Hero Member
  • *****
  • Posts: 1642
    • View Profile
Re: Negative Post about Bitshares
« Reply #13 on: August 19, 2014, 07:32:25 AM »
Quote
It will be easier to just peg the author to bitMoron... At least we know that this peg will hold  :)

hahahahahaha!!! :)

Offline liondani

Re: Negative Post about Bitshares
« Reply #14 on: August 19, 2014, 08:13:17 AM »
lol
  https://bitshares.OPENLEDGER.info/?r=GREECE  | You are in Control | BUY | SELL | SHORT | SWAP | LOAN | TRADE |  

 

Google+