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Messages - Chuckone

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136
General Discussion / Re: It could have been worse. A tale of hope for Bitshares.
« on: May 08, 2015, 01:03:36 pm »
Quote from: sumantso on May 08, 2015, 06:00:50 am
Quote from: Ander on May 08, 2015, 03:43:33 am
We're going up. ;)

Do not sell.  Do not sell even a single BTS back to the bears.  Let them taste the fear of missing out.  Let them suffer from knowing they sold the low.

When people are desperately saying please don't sell, its a sure sign that things are going to get worse.

Bitcoin is poised to jump off a cliff. There is no way BTS is going up now; it can easily drop another 60-70%

The idea is long term. "Do not sell" is not told in desperation to keep what little market cap we have right now. If Bitshares was judged only by its market cap, then Bitshares is laughable . Sure there will be whales that will dump right in our face as soon as we gain 10-20% in value. But with time Bitshares will demonstrate its resilience, and hodlers will become the norm. And at each rise the whales will have fewer shares to dump on the market. I might be wrong, we might even see Bitshares with a 3M$ market cap, we never know. But I'll still be there, with my stake untouched and I will still be buying with what little money I can spare.


137
Muse/SoundDAC / Re: PeerTracks is going to MIDEM!
« on: May 07, 2015, 08:13:32 pm »
Will the Music blockchain (not only Peertracks itself) will be online and delegates producing blocks by that date?

Thanks!

138
General Discussion / Re: Reorg of Bitshares buyers and holders is happening now.
« on: May 06, 2015, 02:58:33 pm »
I totally agree with the OP.

All those who were in Bitshares for a quick buck have already left, shares are now concentrating in the hands of the real believers.

As an investor I would sure like to be the guy who holds all the way from 0.003$ to 3$ a share, but at this point in time I don't even dream about it, and honestly I don't really care. I don't feel entitled to anything, as I didn't contribute personally to the long term success of Bitshares except by being a buyer/hodler. I really have faith in the team behind the product. The future of money is bright because of blockchain technology, and I seriously think Bitshares is perfectly positioned to grab a significant share of the future financial market powered by the blockchain.

Revolutions take years to unfold, and critical mass adoption will definitely take a while. I feel privileged to be sitting in the front row and be able to look at the evolution of the product, one proposal and one announcement at a time.

Creativity, dedication, hard working, patience... All those traits will be required by the team in the long run to make Bitshares the real success it's meant to be.

Keep up the good work everyone. Even if the share price is at its lowest since inception, I've never been as confident as right now about the future success of Bitshares.

Cheers to BM and the team!

139
Stakeholder Proposals / Re: Paid Workers Proposal for Review
« on: May 03, 2015, 01:47:39 pm »
Quote from: bytemaster on May 03, 2015, 01:35:31 pm

We have 7 core developers that need at least $25,000 per month (combined) just to pay for Food, Shelter, and Clothing and earning 1/4 what they could make on the free market.  These 7 core developers form a company that produces a wallet and profits from referral income.   This company would have a funded project with a roadmap for BTS and would receive 250,000 BTS per day that their project is in the top list of  projects for 4 years.


I'm not sure I totally understands where the money to pay the 7 core developers will come from without being able to sell anything from their pay for 5 years? The referral program might be able to help funding it, but will it be enough? Will there be VC investment to cover for what's missing?

140
General Discussion / Re: ALL TIME LOW .
« on: May 01, 2015, 11:57:35 am »
Quote from: donkeypong on May 01, 2015, 01:07:00 am
I would never borrow money to buy crypto. Even if this is a 'sure thing', the timing is never certain. Since I'm fortunate not to need a loan for this, I will continue to buy BitShares.

I don't really believe in "sure things". Of course the value proposition of Bitshares has improved in the last months, even though the price has dropped a lot. So there's plenty of room for the market value to recover and even surpass what it was before the merger. It might not recover before a long while (if ever), the timing might not be right, there might be a third world war and China might drop a nuclear bomb on the US (very unlikely, knowing China has more than a trillion dollars in US debt). At least if the worst happen we'll have @DataSecurityNode who'll be able to host a couple of delegates in his bunker :P

If I rely on my gut feeling, let's say that buying Bitshares is currently a fairly good idea, either with borrowed money or not (as long as one can get it at low interest and pay it back without selling ;)).

It makes me think of a guy I read about in an article last year who borrowed 20k$ to buy Bitcoin when it was at about 20$/BTC. That was a ballzy move. He got lucky and the prices spiked after a while. The sad part of the story is that he got hacked last year and lost about 750 of those BTC.

141
General Discussion / Re: ALL TIME LOW .
« on: April 30, 2015, 08:00:41 pm »
Quote from: Ander on April 30, 2015, 07:31:29 pm
Quote from: Chuckone on April 30, 2015, 06:59:57 pm

I'm even thinking of borrowing money to increase my position (nothing I can't afford to lose of course).

Bitshares needs strong hands, I intend to play my part!

It might be the right time, but I would like to point out that borrowing money in order to buy is the weakest hand of all.  Because if it goes down you must sell to pay back the borrowed money.

Strong hands means people who bought, not on margin, not with borrowed money, and who do not intend to sell if the price declines, under any circumstances.  Strong hands is people who are buying who also have plenty more cash available to continue to buy more if the prices stays down or goes even lower.

I don't plan on selling any BTS to pay back a loan (that is if I take one), if it happens I will pay it back with my tax return that is on the way. And I'll be coming into more available money on a continuous basis, so if it keeps falling in the long run, I'll be there to buy cheap BTS.

I never sold any BTS I bought and I've been around almost since the beginning (AGS donator, PTS holder). I had plenty of occasions to cut off my loss, but never did. I've always been a value investor on the stock market, and IMO Bitshares is seriously undervalued. But that's my opinion, so I might be wrong.

Anyway, although I'm a small time investor, I believe I'm part of a minority who only bought and never sold, and I don't plan to sell at all. Except maybe if BTS reaches 1-2$, I might cash in on part of my investment, only to avoid overexposure to cryptos compared to my other investments. I live frugally on an engineer salary and invest everything I can spare, and I try to diversify as well (rental real estate, stock market and cryptos). Hopefully I'll be able to hit a homerun with at least some of those investments! Only time will tell.

But you are right. Usually those who borrow to invest are the weekest hands, as they believe they will be able to cash in their profits and pay back their loans. But I've been investing long enough to know one shouldn't count on potential profits to pay back debts.

142
General Discussion / Re: ALL TIME LOW .
« on: April 30, 2015, 06:59:57 pm »
Quote from: btswildpig on April 30, 2015, 06:12:38 pm
Quote from: Frodo on April 30, 2015, 10:24:40 am
Normally I don't speculate shortterm because I'm terrible at this but this time I do believe we hit the bottom. BitShares is worth slightly less than Nxt at the moment, that should seem like a realistic valuation to outsiders. If selling continues I would expect to see new buyers incoming.

I hope I'm not terribly mistaken for once  :D

when an average guy on the street thinks it's bottom ...then it's normally not a bottom , from past experience .

 :'( :'( :'( :'(

The bottom will happen when everybody don't believe there will be a bottom ...

Well, I rolled my change at home yesterday and surprisingly it all added up to a few hundred bucks. Might as well reduce my average aquisition cost and go all-in on Bitshares lol :P

I'm even thinking of borrowing money to increase my position (nothing I can't afford to lose of course).

Bitshares needs strong hands, I intend to play my part!

143
Stakeholder Proposals / Re: Please vote for KenCode's delegate
« on: April 30, 2015, 02:56:19 pm »
You got my vote Ken!

144
General Discussion / Re: What is the demographic of the dumpers?
« on: April 29, 2015, 03:07:00 pm »
Quote from: speedy on April 29, 2015, 01:20:31 pm
Quote from: liondani on April 29, 2015, 01:15:42 pm
I don't know for the current ones, but the dumpers before them are more intelligent than we are...

I agree hodling onto something that loses 94% of its value does make me feel dumb.

@speedy I understand your feeling.

I bought in a while back, well before the merger and the continuous downtrend we've seen since then, and I haven't sold a single BTS. I said to myself "Hodl through the storm, someday you'll be rewarded". I didn't even edge with bitUSD (yeah yeah, I know, I'm responsible for my own loss).  I paid about 0.03$/BTS, now my stake is worth about 10-12% of the original amount I invested. Unfortunately I don't have any more money to invest, so I can't get my average BTS aquisition cost lower, and it's painful to see all those new comers get in and get 8 to 10X the amount of BTS I received for the same investment.

BTS will need a ~900% increase in value before I can break even. Now I say to myself that I might as well hodl forever. I can't lose much more than I did up to now :P

Let's say that my experience in crypto hasn't been a pleasant ride up to now, I lost half my BTC stash in MtGox. I invested what I had left in PTS/AGS and BTS.

That being said, I'm not particularly enthousiast and willing to invest more money, since I have repeatedly been the bag holder. Hopefully we'll all be lucky some day with BTS!

And by the way, I have been following BTS development and I've seen tremendous improvements on the client, so I do have some hope (and not only cynism).

 

145
General Discussion / Re: Client crashing while trying to launch (v0.8.0)
« on: April 25, 2015, 02:41:24 pm »
Took me a while, but I realized the client was crashing on startup because my anti virus software got in the way.

Disabled it and now it works. I thought it may be useful for those with the same issue.

146
General Discussion / Re: Now we are at the bottom.
« on: April 10, 2015, 05:03:54 pm »
Quote from: EstefanTT on April 10, 2015, 04:57:27 pm
I agree, we reach a point were most of the bitshares are in the hands of people understanding the value  of BitShares on the term.

These persons are not selling.  They are sitting on their investment, eating pop corn and waiting for the show to begin !

The price should'nt be able to keep falling much more.

Today is a good day to buy some more bts, maybe the last one ...

I've heard this kind of comment several times since Bitshares X went live (yes, even before the merger). It hasn't been true once. I don't think we have seen the bottom yet. I bought most of my shares before the merger, so all I can do is hodl and hope that the sun will shine at some point.

147
Technical Support / Re: BitShares wont launch!
« on: April 09, 2015, 06:27:28 pm »
I do have the same issue. Haven't been able to use the client since I installed 0.8 on windows 7.

I have tried everything I know can be done, from renaming the peer file, deleting everything from appdata except wallet and reinstalling the software and even make a backup of the wallet, delete everything in appdata, reinstall the client and try to open it on an empty wallet. Nothing works. Always the same error message preventing me from starting the software.

Guess I'll have to wait for another version to make it work.

Edit: Also tried to restart the computer after it crashed at every new attempt to make it work.

148
General Discussion / Client crashing while trying to launch (v0.8.0)
« on: March 28, 2015, 10:21:42 pm »
I upgraded the client to 0.8.0. Then, every time I try to open the client, I have this error message "An error occurred while trying to start. Please try restarting the application."

Here what I tried to solve it
- Rename the peer folder in appdata - Didn't work
- Do a backup of the appdata files, delete everything (except backup of course) and uninstall the client. Reboot the computer, re-install the client and try to open it. - Didn't work, client keeps crashing with the same error message.

Is there something else I could try?


149
General Discussion / Re: INVESTORS: You might wanna get in to BitShares and QUICK
« on: March 28, 2015, 06:57:00 pm »
Quote from: kenCode on March 28, 2015, 06:50:10 pm
Quote from: .yoshi on March 28, 2015, 06:12:00 pm
Ripple's management departed??

https://www.cryptocoinsnews.com/ripple-board-member-jesse-powell-resigns-wake-founder-sell/
As they sell off their stake, their market cap is dropping like a rock too.

Check at the bottom of the article.

"Updated: May 24, 2014 at 9:29 am CET."

This article is almost 1 year old...

150
General Discussion / Re: INVESTORS: You might wanna get in to BitShares and QUICK
« on: March 28, 2015, 06:51:48 pm »
It's been a while I've seen bullish/pumping posts around here, we've been in a down trend for what,  6 months now? Since the merger announcement I guess. We were at around 0.03$/BTS before the downtrend started, now at around 0.0065$/BTS. Almost an 80% decline in value since then. Maybe it was overpriced in October, but it's definitely underpriced right now.

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