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Main => General Discussion => Topic started by: cube on October 10, 2014, 11:46:47 am

Title: Latest Bitcoin news - Caution Alert
Post by: cube on October 10, 2014, 11:46:47 am
http://www.reddit.com/r/BitcoinMarkets/comments/2iu5xc/caution_counterparty_team_warns_of_fincen/

Title: Re: Latest Bitcoin news - Caution Alert
Post by: CoinHoarder on October 10, 2014, 12:01:24 pm
Code: [Select]
[6:17:07 PM] Wendell: SWARM… Who else?
[6:17:15 PM] Wendell: Is SWARM even incorporated?
[6:17:52 PM] Xavier  Hawk: Hmmm....CP, Bitshares, Swarm, mastercoin,
[6:18:09 PM] Xavier  Hawk: Ethereum
[6:18:13 PM] Gavin Knight: ethereum would be a likely target do to the mass volume, but they seemed to have tight legal
[6:18:17 PM] Xavier  Hawk: Storj
[6:18:23 PM] Xavier  Hawk: Maidsafe

Most of these companies are not based in the US from what I can tell. I know that Swarm, Ethereum, BitsharesX, and Maidsafe are not at least. CP didn't do an IPO, but burned Bitcoins to get genesis stake.. I'm not sure that would be counted either even though they do seem to be based in the US. Mastercoin probably falls under this category, unfortunately for them. The projects that have launched since them have been more cautionary in terms of regulatory issues.

This is still bad news over all though... just when Bitcoin/crypto is starting to rebound too. The powers that be can't stand it when the 99% have easy access to investing in disruptive technologies when they were blissfully unaware of their existence.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Riverhead on October 10, 2014, 12:22:51 pm
In a post from Stan after the CP announcement from Patrick of Overstock.com he mentioned that they use the same legal firm that Overstock is using for the CP project. BM and Stan have both posted up about how they're being careful about this or that for legal/regulatory issues. Hopefully their legal council has steered them well.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: AdamBLevine on October 10, 2014, 12:27:13 pm
Code: [Select]
[6:17:07 PM] Wendell: SWARM… Who else?
[6:17:15 PM] Wendell: Is SWARM even incorporated?
[6:17:52 PM] Xavier  Hawk: Hmmm....CP, Bitshares, Swarm, mastercoin,
[6:18:09 PM] Xavier  Hawk: Ethereum
[6:18:13 PM] Gavin Knight: ethereum would be a likely target do to the mass volume, but they seemed to have tight legal
[6:18:17 PM] Xavier  Hawk: Storj
[6:18:23 PM] Xavier  Hawk: Maidsafe

Most of these companies are not based in the US from what I can tell. I know that Swarm, Ethereum, BitsharesX, and Maidsafe are not at least. CP didn't do an IPO, but burned Bitcoins to get genesis stake.. I'm not sure that would be counted either even though they do seem to be based in the US. Mastercoin probably falls under this category, unfortunately for them. The projects that have launched since them have been more cautionary in terms of regulatory issues.

This is still bad news over all though... just when Bitcoin/crypto is starting to rebound too. The powers that be can't stand it when the 99% have easy access to investing in disruptive technologies when they were blissfully unaware of their existence.

SWARM is US based, and I'll be shocked if Invictus is not getting a knock on the door come raid day for Angelshares.

and before you say "They're not based in the US", they were when they were collecting money for angelshares and that's what matters.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: cube on October 10, 2014, 12:28:49 pm

Most of these companies are not based in the US from what I can tell. I know that Swarm, Ethereum, BitsharesX, and Maidsafe are not at least. CP didn't do an IPO, but burned Bitcoins to get genesis stake.. I'm not sure that would be counted either even though they do seem to be based in the US. Mastercoin probably falls under this category, unfortunately for them. The projects that have launched since them have been more cautionary in terms of regulatory issues.

This is still bad news over all though... just when Bitcoin/crypto is starting to rebound too. The powers that be can't stand it when the 99% have easy access to investing in disruptive technologies when they were blissfully unaware of their existence.

Yes, this is unfortunate indeed.  The entire crypto industry is at infancy.  I hope the other countries' regulators are not taking the clue from the US and start clamping down.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: speedy on October 10, 2014, 12:31:49 pm
If fincen are worried about ags style campaigns, what exactly does that have to do with luke-jr's blacklists ?
Title: Re: Latest Bitcoin news - Caution Alert
Post by: mf-tzo on October 10, 2014, 12:41:20 pm
Assuming worst case scenario happens does this mean that one should claim DNS and BTSX shares from AGS as soon as possible and leave these shares on the relevant clients just to be on the safe side?
Title: Re: Latest Bitcoin news - Caution Alert
Post by: emski on October 10, 2014, 12:44:23 pm
Assuming worst case scenario happens does this mean that one should claim DNS and BTSX shares from AGS as soon as possible and leave these shares on the relevant clients just to be on the safe side?

Even if authorities confiscate all of III's property your AGS are safe because you hold the private key. You'll be able to reclaim it at any time. What would be lost is the BTC III holds (assuming they were forced to produce the private key of BTC angel addresses).
Title: Re: Latest Bitcoin news - Caution Alert
Post by: CoinHoarder on October 10, 2014, 12:48:33 pm
@ Adam - Ah, I guess you may be right. For some reason Angelshares didn't cross my mind.

Assuming worst case scenario happens does this mean that one should claim DNS and BTSX shares from AGS as soon as possible and leave these shares on the relevant clients just to be on the safe side?

The Feds couldn't confiscate DAC tokens, as each person owns their own private key to the crypto they sent in for AGS. It wouldn't affect future snapshots either as AGS distribution is known and the ledger is distributed. Worst case scenario is Invictus gets fined and even worse case scenario would be that the AGS development funds get confiscated, although I am leaning more towards just a fine.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Ben Mason on October 10, 2014, 12:54:22 pm
Code: [Select]
[6:17:07 PM] Wendell: SWARM… Who else?
[6:17:15 PM] Wendell: Is SWARM even incorporated?
[6:17:52 PM] Xavier  Hawk: Hmmm....CP, Bitshares, Swarm, mastercoin,
[6:18:09 PM] Xavier  Hawk: Ethereum
[6:18:13 PM] Gavin Knight: ethereum would be a likely target do to the mass volume, but they seemed to have tight legal
[6:18:17 PM] Xavier  Hawk: Storj
[6:18:23 PM] Xavier  Hawk: Maidsafe

Most of these companies are not based in the US from what I can tell. I know that Swarm, Ethereum, BitsharesX, and Maidsafe are not at least. CP didn't do an IPO, but burned Bitcoins to get genesis stake.. I'm not sure that would be counted either even though they do seem to be based in the US. Mastercoin probably falls under this category, unfortunately for them. The projects that have launched since them have been more cautionary in terms of regulatory issues.

This is still bad news over all though... just when Bitcoin/crypto is starting to rebound too. The powers that be can't stand it when the 99% have easy access to investing in disruptive technologies when they were blissfully unaware of their existence.

SWARM is US based, and I'll be shocked if Invictus is not getting a knock on the door come raid day for Angelshares.

and before you say "They're not based in the US", they were when they were collecting money for angelshares and that's what matters.

Why would you be shocked Adam?  Angel shares is a private record of a donation of cryptographic digital information....in return for which, those who donated will receive several allocations of cryptographic digital information within open-source software products.  On what basis could someone come after them?  Are we not free to gift an arrangement of harmless digital information to whomever we choose and receive harmless digital information in return?

Try not to panic....this technological innovation cannot be un-invented.  The writing is on the wall.  One way or another, blockchain technology will redistribute the power of money and transform our societies.  It's already happening.  Decentralization is and has always been the key.  Bitshares will endure.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: mf-tzo on October 10, 2014, 12:59:13 pm
That is reassuring because I just can't be bothered to claim any shares yet..

Quote
What would be lost is the BTC III holds (assuming they were forced to produce the private key of BTC angel addresses).

Even if that happens, III could just convert all the BTC in bitusd and BTSX as soon as possible and keep the funding safe on the client and at the same time end the legal entity of the company by declaring bankruptcy in advance. Then no one can touch them as well correct?

Just trying to understand potential risks.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: cube on October 10, 2014, 01:02:14 pm
@ Adam - Ah, I guess you may be right. For some reason Angelshares didn't cross my mind.

The Feds couldn't confiscate DAC tokens, as each person owns their own private key to the crypto they sent in for AGS. It wouldn't affect future snapshots either as AGS distribution is known and the ledger is distributed. Worst case scenario is Invictus gets fined and even worse case scenario would be that the AGS development funds get confiscated, although I am leaning more towards just a fine.

If there would be a fine in a worst case scenario, I hope it would not be big and cripple III financially.  We need III fully functioning. And what will happen to the current MUSIC pre-sales and future fund raising via crypto?
Title: Re: Latest Bitcoin news - Caution Alert
Post by: CoinHoarder on October 10, 2014, 01:04:32 pm
I think we may be freaking out about nothing.

After a quick assessment, Invictus is a company registered in Hong Kong, China. Meaning that the SEC would probably not have jurisdiction.

http://bitshares.org/wp-content/uploads/2014/07/BitShares-Trust-Published%20July-18-2014.pdf
Title: Re: Latest Bitcoin news - Caution Alert
Post by: mf-tzo on October 10, 2014, 01:14:28 pm
No one is freaking out and there is no need to freak out. Just trying to re evaluate some possible risks, although I am pretty confident that III have much more dedicated people to do that instead of us.

What I am not so sure is that if these risks are identified and solutions are in place how and if these would be communicated to us in order to take as well the necessary precautions...

So we need a decentralized private and secure communication system that no government can't spy on us...
Title: Re: Latest Bitcoin news - Caution Alert
Post by: cube on October 10, 2014, 01:19:56 pm
...
Just trying to re evaluate some possible risks, although I am pretty confident that III have much more dedicated people to do that instead of us.

What I am not so sure is that if these risks are identified and solutions are in place how and if these would be communicated to us in order to take as well the necessary precautions...
...

We need to be aware of possible risks and take the necessary measures and precautions.  This need to be communicated.   +5%
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Markus on October 10, 2014, 01:24:00 pm
I think we may be freaking out about nothing.

After a quick assessment, Invictus is a company registered in Hong Kong, China. Meaning that the SEC would probably not have jurisdiction.

http://bitshares.org/wp-content/uploads/2014/07/BitShares-Trust-Published%20July-18-2014.pdf

After reading this I assume the Angelfund is safely locked away in Hong Kong.

III was just the escrow agent and is probably a more or less empty shell by now. Any kind of fine would then bankrupt it but who would care. Hong Kong would just found III.2
Title: Re: Latest Bitcoin news - Caution Alert
Post by: mf-tzo on October 10, 2014, 01:32:53 pm
Quote
How can they be sure you are not one of the government's agent even on a secure channel ?   :P

If you're not one of the devs,if there is a real threat and need a secure channel for communication,you and I wouldn't be part of it.

I hear you and I partly agree. You and I and many others are here from the beginning and have some posts already expressing our opinions so I would safely assume that we could be part of a safe communication channel.. No need to be fully paranoid about things.. On the other hand people participating in community forum from the beginning with numerous posts have scammed their community members in the past (cough cough...Nxt...). Anyway I am getting out of subject now...
Title: Re: Latest Bitcoin news - Caution Alert
Post by: AdamBLevine on October 10, 2014, 01:37:51 pm
Code: [Select]
[6:17:07 PM] Wendell: SWARM… Who else?
[6:17:15 PM] Wendell: Is SWARM even incorporated?
[6:17:52 PM] Xavier  Hawk: Hmmm....CP, Bitshares, Swarm, mastercoin,
[6:18:09 PM] Xavier  Hawk: Ethereum
[6:18:13 PM] Gavin Knight: ethereum would be a likely target do to the mass volume, but they seemed to have tight legal
[6:18:17 PM] Xavier  Hawk: Storj
[6:18:23 PM] Xavier  Hawk: Maidsafe

Most of these companies are not based in the US from what I can tell. I know that Swarm, Ethereum, BitsharesX, and Maidsafe are not at least. CP didn't do an IPO, but burned Bitcoins to get genesis stake.. I'm not sure that would be counted either even though they do seem to be based in the US. Mastercoin probably falls under this category, unfortunately for them. The projects that have launched since them have been more cautionary in terms of regulatory issues.

This is still bad news over all though... just when Bitcoin/crypto is starting to rebound too. The powers that be can't stand it when the 99% have easy access to investing in disruptive technologies when they were blissfully unaware of their existence.

SWARM is US based, and I'll be shocked if Invictus is not getting a knock on the door come raid day for Angelshares.

and before you say "They're not based in the US", they were when they were collecting money for angelshares and that's what matters.

Why would you be shocked Adam?  Angel shares is a private record of a donation of cryptographic digital information....in return for which, those who donated will receive several allocations of cryptographic digital information within open-source software products.  On what basis could someone come after them?  Are we not free to gift an arrangement of harmless digital information to whomever we choose and receive harmless digital information in return?

Try not to panic....this technological innovation cannot be un-invented.  The writing is on the wall.  One way or another, blockchain technology will redistribute the power of money and transform our societies.  It's already happening.  Decentralization is and has always been the key.  Bitshares will endure.

Ben, I'm not sure how long you've been around this community but Angelshares has morphed in "what it is" several times.  It has been a donation, an investment, a trust, etc.  All these words were used in official material and in communications to people who were asked to give money by the people who were recieving it.   Take a look at the disclaimer in posts by Daniel or Stan, you'll notice the disclaimer saying anything they say on these forums is non-binding.  Well, that's great but it was a bit late and much was said in the interim. 

I totally agree none of this can be uninvented, I've never claimed that and *I'm* not panic-ing or really even concerned, but it's naive to say that Invictus won't be on the list because they're "not based in the US".  If you're panic-ing, it probably means you are too vested in the bitshares ecosystem and your incentives are screwed up because of it.   Our viewpoints should be guided by the way things are, not the way we wish they were.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: AdamBLevine on October 10, 2014, 01:44:00 pm
I think we may be freaking out about nothing.

After a quick assessment, it seems that the AGS funding was done via the "Bitshares Trust", a Hong Kong company. Meaning that the SEC would not have jurisdiction. http://bitshares.org/wp-content/uploads/2014/07/BitShares-Trust-Published%20July-18-2014.pdf

yeah,even 3i and DACSun shareholders can not use this fund for their own financial gain,they have to devote the fund for Bitshares future projects for the public.So AGS is not considered as company property.

Even some shareholder want to cash in their shares,they can't touch the AGS fund.

But on second thought.....3I itself still has 60000 PTS and the allocated BTSX,that one would be DACSun's property.

What exactly do you think Invictus has done, and is doing with the Angelshares funding?   They are paying employee salaries. It is definitely an asset of the company.

Whether it can be siezed technically is another matter but legally I see no reason why the funds being used to entirely finance the operation of the company, at the direction of the company and completely under the control of the company's officers wouldn't be considered Invictus's property.

I think its far more likely there will be fines and possibly civil charges against the US part of the company, since that was the part that solicited, took in in and spent AGS funds.  For what its worth , all of this applies to Mastercoin to a lesser degree as well (they raised less than 1 million usd)

It'll be interesting to see what other projects get swept up and tell us a lot about what methods moving forward make sense.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: CoinHoarder on October 10, 2014, 01:45:40 pm
No one is freaking out and there is no need to freak out. Just trying to re evaluate some possible risks, although I am pretty confident that III have much more dedicated people to do that instead of us.

What I am not so sure is that if these risks are identified and solutions are in place how and if these would be communicated to us in order to take as well the necessary precautions...

So we need a decentralized private and secure communication system that no government can't spy on us...
How can they be sure you are not one of the government's agent even on a secure channel ?   :P

If you're not one of the devs,if there is a real threat and need a secure channel for communication,you and I wouldn't be part of it.

Lol.. well, it looks like I may be wrong about the jurisdiction thing. The SEC has some pretty complicated regulations, you need to be a security lawyer to understand them all. There are certain cases in which foreign companies need to register with the SEC. It is not immediately apparent if this is one of them though. Judging by the trust document, I3 has a few lawyers on their side whom hopefully gave solid legal guidance. I hope the government doesn't set a precedent starting with I3/Ethereum/Swarm/etc.

http://www.sec.gov/divisions/corpfin/internatl/foreign-private-issuers-overview.shtml#II

Unfortunately Stan signs on the Trust's document I linked earlier. The "executives" of I3 being US citizens may mean that AGS did need to file with the SEC. See under "Business Contacts Tests".

Quote
a) Citizenship and Residency

Under the foreign private issuer definition, a foreign company must determine whether a majority of both its executive officers and directors are either U.S. citizens or U.S. residents. The citizenship and residency of each of the foreign company’s executive officers and directors must be analyzed separately. The terms “executive officer” and “director” may have different meanings in jurisdictions outside of the United States; therefore, foreign companies should refer to the definition of “executive officer” contained in Securities Act Rule 405 and Exchange Act Rule 3b-7 (a person or position involved in performing policy making functions for the issuer) to determine the individuals for which they should perform the analysis. When performing the analysis for “directors,” foreign companies should consider individuals that perform the functions generally performed by a board of directors of a U.S. company.

One other thing.. AGS funds were coined as donations, and DACs do not pay dividends in the traditional sense of a business since shares are burned as shareholder compensation. This may be another saving grace. They just traded A coins for X Y and Z coins, with no promise of income as they do not pay dividends and the value of X Y and Z coins are not under their control.. it is up to the free market. I think it is too early to tell if/when/how I3 or AGS or any Bitshares DACs are affected.

To the SEC jackasses if they're reading this: how about you release that crowd funding guidance you've been sitting on for years... since 2012... so people can easily crowdfund their start ups without jumping through hoops like circus animals... http://www.forbes.com/sites/devinthorpe/2014/09/09/grassroots-lobbying-effort-asks-sec-to-issue-final-crowdfunding-rules/

I still think the worst they can do is fine I3 even if they did need to file. Erik Vorhees got off with a slap on the wrist.. a $50,000 fine for running a security that sold for $11.5 Million (126,315 BTC) and that is not even counting profits or dividends. I3 is not even close as blatant as a security as SatoshiDice was, they were smarter when setting everything up.

http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370541972520#.VDffyfldWiE
http://www.coindesk.com/bitcoin-company-acquisitions-begin-gambling-site-satoshidice-sells-for-11-5m-126315-btc/
Title: Re: Latest Bitcoin news - Caution Alert
Post by: blahblah7up on October 10, 2014, 01:50:49 pm
@Adam

did you actually read the chatlogs?  Dogeparty is listed in there as well.   :o
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Ben Mason on October 10, 2014, 01:55:30 pm
Code: [Select]
[6:17:07 PM] Wendell: SWARM… Who else?
[6:17:15 PM] Wendell: Is SWARM even incorporated?
[6:17:52 PM] Xavier  Hawk: Hmmm....CP, Bitshares, Swarm, mastercoin,
[6:18:09 PM] Xavier  Hawk: Ethereum
[6:18:13 PM] Gavin Knight: ethereum would be a likely target do to the mass volume, but they seemed to have tight legal
[6:18:17 PM] Xavier  Hawk: Storj
[6:18:23 PM] Xavier  Hawk: Maidsafe

Most of these companies are not based in the US from what I can tell. I know that Swarm, Ethereum, BitsharesX, and Maidsafe are not at least. CP didn't do an IPO, but burned Bitcoins to get genesis stake.. I'm not sure that would be counted either even though they do seem to be based in the US. Mastercoin probably falls under this category, unfortunately for them. The projects that have launched since them have been more cautionary in terms of regulatory issues.

This is still bad news over all though... just when Bitcoin/crypto is starting to rebound too. The powers that be can't stand it when the 99% have easy access to investing in disruptive technologies when they were blissfully unaware of their existence.

SWARM is US based, and I'll be shocked if Invictus is not getting a knock on the door come raid day for Angelshares.

and before you say "They're not based in the US", they were when they were collecting money for angelshares and that's what matters.

Why would you be shocked Adam?  Angel shares is a private record of a donation of cryptographic digital information....in return for which, those who donated will receive several allocations of cryptographic digital information within open-source software products.  On what basis could someone come after them?  Are we not free to gift an arrangement of harmless digital information to whomever we choose and receive harmless digital information in return?

Try not to panic....this technological innovation cannot be un-invented.  The writing is on the wall.  One way or another, blockchain technology will redistribute the power of money and transform our societies.  It's already happening.  Decentralization is and has always been the key.  Bitshares will endure.

Ben, I'm not sure how long you've been around this community but Angelshares has morphed in "what it is" several times.  It has been a donation, an investment, a trust, etc.  All these words were used in official material and in communications to people who were asked to give money by the people who were recieving it.   Take a look at the disclaimer in posts by Daniel or Stan, you'll notice the disclaimer saying anything they say on these forums is non-binding.  Well, that's great but it was a bit late and much was said in the interim. 

I totally agree none of this can be uninvented, I've never claimed that and *I'm* not panic-ing or really even concerned, but it's naive to say that Invictus won't be on the list because they're "not based in the US".  If you're panic-ing, it probably means you are too vested in the bitshares ecosystem and your incentives are screwed up because of it.   Our viewpoints should be guided by the way things are, not the way we wish they were.

Sorry Adam, the second paragraph was not mean't for you personally, it was a general statement.

I've been around from very early on and have the privilege of being a founder.  I always accepted that the language used to describe the technology would change and evolve.  I am very comfortable with my investment in Bitshares and have a deep conviction that I3 & Bitshares & the community will take us where we need to go.  I just don't see what the attack vector is with regards to Angelshares in the present.  Please enlighten me if you don't mind.....I have always valued your insight and integrity.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: AdamBLevine on October 10, 2014, 03:24:50 pm
@Adam

did you actually read the chatlogs?  Dogeparty is listed in there as well.   :o

Dogeparty didn't solicit funds that are used to fund the endeavor, so I'll be shocked if there is an issue with the SEC.  I also suspect Counterparty will be fine because of this.  In order for something to be a security, it must be purchased which means it must be sold.  Neither XDP or XCP were purchased or sold because nobody benefitted from the money.  Point 1 and 2 don't work for Dogeparty or Counterparty (because there is no pooling of capital) but they seem to very much work for Invictus

Here's the Howie Test (http://en.wikipedia.org/wiki/Securities_and_Exchange_Commission_v._W._J._Howey_Co.)

Quote
Justice Murphy, writing for the majority, identified the major legal issue in this case as whether or not the contracts Howey was selling (which in substance were basically leaseback agreements) constituted an "investment contract" within the meaning of § 2(a)(1) of the Securities Act of 1933. Murphy reasoned that while the term "investment contract" was left undefined by the Act, it had been used in state blue sky laws to cover a broad array of contracts and other schemes to raise capital in a way to secure some income or profit from the use thereof. Thus, the Court concluded, Congress had written the term into the statute in recognition of its previously adopted common law meaning.

Murphy then formulated one of the U.S. Supreme Court's earliest tests to determine whether an instrument qualifies as an "investment contract" for the purposes of the Securities Act (which later came to be referred to as the Howey test):

1 - investment of money due to
2- an expectation of profits arising from
3- a common enterprise
4- which depends solely on the efforts of a promoter or third party

Murphy determined that the contracts in issue here met all four prongs of this test, and thus W. J. Howey could be held liable for violating § 5 of the Securities Act of 1933. Furthermore, Murphy held that the fact that some of the investors chose to use services other than those of Howey-in-the-Hills to tend to the groves was irrelevant, because §5 forbids the offer of unregistered securities, as well as the sale of them.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: oco101 on October 10, 2014, 03:56:19 pm
Adam we are all so happy that Dodgecoin is not affected. And thank for your help here at Bitshare ......
Title: Re: Latest Bitcoin news - Caution Alert
Post by: CoinHoarder on October 10, 2014, 03:59:13 pm
IMO if the others fit this definition, Dogeparty and Counterparty would also be in violation.

1 - investment of money due to - "Burned" Bitcoins could be construed as investment of money. Just because they didn't use the money doesn't mean that others didn't invest money via the burn process to get their respective stake.
2- an expectation of profits arising from - Again, I don't think they burned their Bitcoins expecting nothing or coins of similar value in return.
3- a common enterprise - The common enterprise being Dogeparty/Counterparty
4- which depends solely on the efforts of a promoter or third party - Dependent on the developers developing the software.

If a cryptocoin 2.0 protocol relied on some sort of crowd funding, whether it be via a more traditional-style crowdfunding or burning of cryptocurrency, there is the same end result. The difference being the projects that burned crypto just wasted money needlessly. Users invested money (burned/ICO/IPO)  to get an equity in the project (common enterprise) with an expectation of profit from said projects (rise in token value), the developments of which relied on promoters/third parties (developers/organizers).

This is a slippery slope, a very slippery slope indeed. I could probably name at least 20 different projects that this could be applicable to. All of which just happen to be the most innovative cryptocurrency projects in existence, which is very sad for the sake of innovation and development of different use cases of blockchain technology other than specifically for currency. I hope that the Feds just leave these projects alone and let the industry grow and mature on its own. They will get their cut somewhere down the line one way or the other, it doesn't have to be through the SEC. The money will trickle down to them into their pockets eventually.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: oco101 on October 10, 2014, 04:09:02 pm
IMO if the others fit this definition, Dogeparty and Counterparty would also be in violation.

Seriously  Dogecoin it is Adam coin therefore could not be touch ....In the other hand Bitshares it is screwed : 
Quote
I'll be shocked if Invictus is not getting a knock on the door come raid day for Angelshares
. For sure we don't wanna shock Adam.

 
Title: Re: Latest Bitcoin news - Caution Alert
Post by: CoinHoarder on October 10, 2014, 04:17:04 pm
"(2) with an expectation of profits arising (3) from a common enterprise "

AGSer expect BTS and dacs allocation from Bitshares-Opensource-Software,which is not a legal entity ,so Bitshares DACs are not  "a common enterprise".

Therefore,AGSer only fits this 4 tests when they expected profits arising from a common enterprise-----Invictus and not Bitshares DAC,which clearly AGSer expect gain from the latter.

This is a good point. The situation is so complicated that I'm sure even the lawyers don't know exactly how it will play out. Cryptoequity is such new territory for everyone, and the SEC has not issued any guidance on the matter. I don't think it is a cause for concern though.. not for end users, the DACs, or "investors."

Worst case scenario is the "promoters"/"third parties" get fined and everyone goes about their business from there on out like normal. It's not like the SEC can kill a decentralized protocol. I think anyone interested in funding a project in cryptoequity should tread cautiously in the future though. Hopefully I3 "invested" enough in their project to easily cover any fines that may be imposed.. I have a feeling they did.

PS: Guys, lets be nice to Adam. LTB and its subsidiaries have done a lot of good press for Bitshares and we don't want to burn that bridge. Everyone is entitled to their own opinions.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: AdamBLevine on October 10, 2014, 04:28:10 pm
IMO if the others fit this definition, Dogeparty and Counterparty would also be in violation.

1 - investment of money due to - "Burned" Bitcoins could be construed as investment of money. Just because they didn't use the money doesn't mean that others didn't invest money via the burn process to get their respective stake.
2- an expectation of profits arising from - Again, I don't think they burned their Bitcoins expecting nothing or coins of similar value in return.
3- a common enterprise - The common enterprise being Dogeparty/Counterparty
4- which depends solely on the efforts of a promoter or third party - Dependent on the developers developing the software.

If a cryptocoin 2.0 protocol relied on some sort of crowd funding, whether it be via a more traditional-style crowdfunding or burning of cryptocurrency, there is the same end result. The difference being the projects that burned crypto just wasted money needlessly. Users invested money (burned/ICO/IPO)  to get an equity in the project (common enterprise) with an expectation of profit from said projects (rise in token value), the developments of which relied on promoters/third parties (developers/organizers).

This is a slippery slope, a very slippery slope indeed. I could probably name at least 20 different projects that this could be applicable to. All of which just happen to be the most innovative cryptocurrency projects in existence, which is very sad for the sake of innovation and development of different use cases of blockchain technology other than specifically for currency. I hope that the Feds just leave these projects alone and let the industry grow and mature on its own. They will get their cut somewhere down the line one way or the other, it doesn't have to be through the SEC. The money will trickle down to them into their pockets eventually.

Basically the question is whether it is possible to Invest in something by destroying the value.  We don't have an answer to this, my belief is no and you may be right, it may be construed as investment because if it looks like a duck and quacks like a duck, the feds are going to treat it like a duck analog  (http://en.wikipedia.org/wiki/Federal_Analog_Act)

Either way it seems clear to me Invictus is under the gun on this one, we'll have to wait and see on Dogeparty.  LTBcoin is pretty straightforward and there was no IPO or burn, with distribution based on contribution it shouldn't fall under this but just like with Dogeparty if you get broad enough with your interpretation anything is possible.

It's funny how some people seem to think I take some sort of pleasure in this, I don't.  I'm just trying to keep people focused on reality at least a little since its easy to let what you wish reality to be dictate what you believe will happen.  Focus on the reality for Bitshares, why does it matter what happens to anybody else?  It's obvious deflecting.

Quote
PS: Guys, lets be nice to Adam. LTB and its subsidiaries have done a lot of good press for Bitshares and we don't want to burn that bridge. Everyone is entitled to their own opinions.
They can't be nice to me because I question what they wish to be true and I don't have time to beat around the bush when I see a problem or have a question.  They don't want to answer the question, they want it to stop being asked.

  The community defense team is why so few people who aren't true believers bother with this forum.  It's why there's now talk of if the forum is even a good place for anybody new because posting questions as a new user are often ridiculed or attacked as trolls or sockpuppets.

Like you said, I actually do some important work for Bitshares in addition to my commenting and provide a platform along with access to the LTB community many of whom after which joined the I3 community.  Given that I could stop all that and invest my time and money elsewhere, If they're willing to attack my questions, what kind of user wouldn't they be willing to attack?
Title: Re: Latest Bitcoin news - Caution Alert
Post by: santaclause102 on October 10, 2014, 04:33:24 pm
Do you have an example of such behavior / statements?

Quote
The community defense team is why so few people who aren't true believers bother with this forum.  It's why there's now talk of if the forum is even a good place for anybody new because posting questions as a new user are often ridiculed or attacked as trolls or sockpuppets.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: AdamBLevine on October 10, 2014, 04:35:12 pm
Do you have an example of such behavior / statements?

Quote
The community defense team is why so few people who aren't true believers bother with this forum.  It's why there's now talk of if the forum is even a good place for anybody new because posting questions as a new user are often ridiculed or attacked as trolls or sockpuppets.


I read a thread recently about tonyk and this exact behavior, sorry I don't have a link it wasn't something I saved.

Edit: here you go https://bitsharestalk.org/index.php?topic=9375.0;topicseen
Title: Re: Latest Bitcoin news - Caution Alert
Post by: hpenvy on October 10, 2014, 04:39:17 pm
1. I like some of the points Adam makes about a sometimes hostile environment.
2. The same could be said about alt currencies on Bitcointalk, Litecoin, Nxt etc...  It's not an excuse, just a call to reality as you requested.
3. Leading by example is great.
4. I would love to see a list of changes you would make ranging from marketing to keeping an open environment while catering to all.
5. I appreciate your contributions, however, I have no issue calling people out in a respectful manner.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: santaclause102 on October 10, 2014, 04:42:47 pm
Do you have an example of such behavior / statements?

Quote
The community defense team is why so few people who aren't true believers bother with this forum.  It's why there's now talk of if the forum is even a good place for anybody new because posting questions as a new user are often ridiculed or attacked as trolls or sockpuppets.


I read a thread recently about tonyk and this exact behavior, sorry I don't have a link it wasn't something I saved.
Tonyk is one individual. Everyone has his own opinions. Btw he rants against pretty much anything new users or BitShares Music like here https://bitsharestalk.org/index.php?topic=8652.0 Let's keep the discussion based on facts (not the emotional bias that we ALL have)
Title: Re: Latest Bitcoin news - Caution Alert
Post by: hpenvy on October 10, 2014, 04:49:23 pm
So much emotion in some of the responses. In such a male dominated area, I never would have guessed so many feelings surfacing. This is not a knock on anyone, I just don't get it.

For me, it's simply business. I like the suggestion above, less emotional bias, more facts. We can all group hug down the road. Just my 2 cents. I like and dislike each of you equally. :)
Title: Re: Latest Bitcoin news - Caution Alert
Post by: AdamBLevine on October 10, 2014, 04:54:28 pm
Do you have an example of such behavior / statements?

Quote
The community defense team is why so few people who aren't true believers bother with this forum.  It's why there's now talk of if the forum is even a good place for anybody new because posting questions as a new user are often ridiculed or attacked as trolls or sockpuppets.


I read a thread recently about tonyk and this exact behavior, sorry I don't have a link it wasn't something I saved.
Tonyk is one individual. Everyone has his own opinions. Btw he rants against pretty much anything new users or BitShares Music like here https://bitsharestalk.org/index.php?topic=8652.0 Let's keep the discussion based on facts (not the emotional bias that we ALL have)

You asked for an example of such behavior, I provided one.   You didnt have the thread quoted so perhaps you responded before my edit

Edit: here you go https://bitsharestalk.org/index.php?topic=9375.0;topicseen
Title: Re: Latest Bitcoin news - Caution Alert
Post by: santaclause102 on October 10, 2014, 05:02:54 pm
Do you have an example of such behavior / statements?

Quote
The community defense team is why so few people who aren't true believers bother with this forum.  It's why there's now talk of if the forum is even a good place for anybody new because posting questions as a new user are often ridiculed or attacked as trolls or sockpuppets.


I read a thread recently about tonyk and this exact behavior, sorry I don't have a link it wasn't something I saved.
Tonyk is one individual. Everyone has his own opinions. Btw he rants against pretty much anything new users or BitShares Music like here https://bitsharestalk.org/index.php?topic=8652.0 Let's keep the discussion based on facts (not the emotional bias that we ALL have)

True... the only thing I really like on this forum is AdamBLevine and his priceless contributions!
Tony you know that I do not appreciate the way you speak here on the forum sometimes (I like the content of what you say but often you personaly and implicitly attack people) because some take it serious and it does not do any good (only supports your entertainment).
Title: Re: Latest Bitcoin news - Caution Alert
Post by: santaclause102 on October 10, 2014, 05:07:31 pm
Do you have an example of such behavior / statements?

Quote
The community defense team is why so few people who aren't true believers bother with this forum.  It's why there's now talk of if the forum is even a good place for anybody new because posting questions as a new user are often ridiculed or attacked as trolls or sockpuppets.


I read a thread recently about tonyk and this exact behavior, sorry I don't have a link it wasn't something I saved.
Tonyk is one individual. Everyone has his own opinions. Btw he rants against pretty much anything new users or BitShares Music like here https://bitsharestalk.org/index.php?topic=8652.0 Let's keep the discussion based on facts (not the emotional bias that we ALL have)

You asked for an example of such behavior, I provided one.   You didnt have the thread quoted so perhaps you responded before my edit

Edit: here you go https://bitsharestalk.org/index.php?topic=9375.0;topicseen
You are right Adam, that there is such behavior here on the forum. But I don't think it is legitimate to generalize it for the forum as a whole and call it "the community defense team".
To be fair towards tonyk he rants about all kinds of things and I am sure it is not out of an evil spirit (just a communication habit).
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Gentso1 on October 10, 2014, 05:17:42 pm
(http://25.media.tumblr.com/tumblr_m0jpvapVVO1rrr20eo1_400.png) (http://1.bp.blogspot.com/-hKa_fcJCV6I/T06JnnwuusI/AAAAAAAABfw/NqNoWIVSWVI/s1600/awkward-1%255B1%255D.jpg)



great read.......

tonyK keep speaking you mind
adam keep asking the tough questions
coinhoarder-you have a way of making even the dry est  information interesting

Title: Re: Latest Bitcoin news - Caution Alert
Post by: Rune on October 10, 2014, 05:44:49 pm
ITT: this is actually good news!

It's embarrassing to feel like I'm on /r/bitcoin.

No matter if this turns out to be a threat or not, there is no way to currently know. Speculation by anyone not a lawyer is useless. Everyone should prepare for the worst and hope for the best, the I3 team especially so. This is a case of an event that could be ridiculously bad if not anticipated and prepared for properly, worst case scenario being development stalling as energy is siphoned off by legal issues. Bitshares must be a succes, we cannot risk failure or serious setbacks.

I feel like this forum is having PMS mood swings as if the price were female sex hormone levels. It's probably the worst way to react.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: santaclause102 on October 10, 2014, 05:46:43 pm
Quote
I feel like this forum is having PMS mood swings as if the price were female sex hormone levels. It's probably the worst way to react.
haha that is super true!
Title: Re: Latest Bitcoin news - Caution Alert
Post by: AdamBLevine on October 10, 2014, 05:52:21 pm
Do you have an example of such behavior / statements?

Quote
The community defense team is why so few people who aren't true believers bother with this forum.  It's why there's now talk of if the forum is even a good place for anybody new because posting questions as a new user are often ridiculed or attacked as trolls or sockpuppets.


I read a thread recently about tonyk and this exact behavior, sorry I don't have a link it wasn't something I saved.
Tonyk is one individual. Everyone has his own opinions. Btw he rants against pretty much anything new users or BitShares Music like here https://bitsharestalk.org/index.php?topic=8652.0 Let's keep the discussion based on facts (not the emotional bias that we ALL have)

You asked for an example of such behavior, I provided one.   You didnt have the thread quoted so perhaps you responded before my edit

Edit: here you go https://bitsharestalk.org/index.php?topic=9375.0;topicseen
You are right Adam, that there is such behavior here on the forum. But I don't think it is legitimate to generalize it for the forum as a whole and call it "the community defense team".
To be fair towards tonyk he rants about all kinds of things and I am sure it is not out of an evil spirit (just a communication habit).

I'm not referring to the whole forum, just the elite subset like tonyk when I talk about the forum defense force or whatever.  Generally these people are "all in" on angelshares or otherwise have their financial future very tied up in the success of I3.  I3 doesn't like engaging on the forums about things they'd rather not have community input on and the community defenders gladly fill the void with attempts to stop the question from being asked or attack the asker since they themselves do not know the answer and they don't want invictus being left defenseless.

Have a good one.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Thom on October 10, 2014, 06:03:40 pm
Quote
PS: Guys, lets be nice to Adam. LTB and its subsidiaries have done a lot of good press for Bitshares and we don't want to burn that bridge. Everyone is entitled to their own opinions.
They can't be nice to me because I question what they wish to be true and I don't have time to beat around the bush when I see a problem or have a question.  They don't want to answer the question, they want it to stop being asked.

  The community defense team is why so few people who aren't true believers bother with this forum.  It's why there's now talk of if the forum is even a good place for anybody new because posting questions as a new user are often ridiculed or attacked as trolls or sockpuppets.

Like you said, I actually do some important work for Bitshares in addition to my commenting and provide a platform along with access to the LTB community many of whom after which joined the I3 community.  Given that I could stop all that and invest my time and money elsewhere, If they're willing to attack my questions, what kind of user wouldn't they be willing to attack?

So much of what you said here is spot on, about how people resist truth. Thank you Adam for your willingness to speak your mind here.

I do think your generalization of "community defense team" is not completely accurate, tho it is so common in many communities, especially cults. "My team's the best, your's sucks" mentality. We don't need that crap. Let's keep it rational. Nothing wrong with voicing your opinion and support of your team, but keep it in check and open your mind to empirical truth and facts. When you begin to feel emotional consider it a gong to ask yourself why, and then pause before responding. You might like what you write much better.

Where I think you went a bit too far Adam was in using tonyk as your evidence for you "community defense team" argument. He is clearly abrasive, as evidenced by the thread you provided. But as was pointed out above he is just one person. Painting his contributions as indicative of the community's attitude is unfair and as a relative newbie myself have not experienced this group think attack. The community is very supportive and open to newbies and their "dumb" questions. I know, I've asked my share of them.

And like you I'm not afraid to speak my mind here. I'm just not up to the same level of knowledge you and many others are to ask the really tough questions yet. So please, continue!

 
Title: Re: Latest Bitcoin news - Caution Alert
Post by: JA on October 10, 2014, 06:14:21 pm
(http://upload.wikimedia.org/wikipedia/en/0/08/0330chewbacca.jpg)
http://en.wikipedia.org/wiki/Chewbacca_defense  :D
Just use the Chewbacca defense and everything will be alright
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Riverhead on October 10, 2014, 06:16:49 pm
The forum as 7000 members. Probably of which only about 5% - 10% are active. It would be unreasonable to assume everyone is going to agree, be agreeable, or comport themselves in a diplomatic manner. I don't take any one poster as a representative of the community as a whole, or a clique, or 3i. If someone continually just spews unconstructive bile I add them to my ignore list. So far I've only added one person to that list because what they were posting was just not relevant to anything....or anyone.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: santaclause102 on October 10, 2014, 11:24:07 pm
Quote
PS: Guys, lets be nice to Adam. LTB and its subsidiaries have done a lot of good press for Bitshares and we don't want to burn that bridge. Everyone is entitled to their own opinions.
They can't be nice to me because I question what they wish to be true and I don't have time to beat around the bush when I see a problem or have a question.  They don't want to answer the question, they want it to stop being asked.

  The community defense team is why so few people who aren't true believers bother with this forum.  It's why there's now talk of if the forum is even a good place for anybody new because posting questions as a new user are often ridiculed or attacked as trolls or sockpuppets.

Like you said, I actually do some important work for Bitshares in addition to my commenting and provide a platform along with access to the LTB community many of whom after which joined the I3 community.  Given that I could stop all that and invest my time and money elsewhere, If they're willing to attack my questions, what kind of user wouldn't they be willing to attack?

So much of what you said here is spot on, about how people resist truth. Thank you Adam for your willingness to speak your mind here.

I do think your generalization of "community defense team" is not completely accurate, tho it is so common in many communities, especially cults. "My team's the best, your's sucks" mentality. We don't need that crap. Let's keep it rational. Nothing wrong with voicing your opinion and support of your team, but keep it in check and open your mind to empirical truth and facts. When you begin to feel emotional consider it a gong to ask yourself why, and then pause before responding. You might like what you write much better.

Where I think you went a bit too far Adam was in using tonyk as your evidence for you "community defense team" argument. He is clearly abrasive, as evidenced by the thread you provided. But as was pointed out above he is just one person. Painting his contributions as indicative of the community's attitude is unfair and as a relative newbie myself have not experienced this group think attack. The community is very supportive and open to newbies and their "dumb" questions. I know, I've asked my share of them.

And like you I'm not afraid to speak my mind here. I'm just not up to the same level of knowledge you and many others are to ask the really tough questions yet. So please, continue!
That hit it on the nail!
Title: Re: Latest Bitcoin news - Caution Alert
Post by: mbaeichapareiko on October 11, 2014, 01:18:59 am
Is bitcoin considered to be based in the U.S?   I would assume not.  Decentralized means just that right? no central government can claim it.  Can't an exchange be maintained by a network and decentralized also?
Title: Re: Latest Bitcoin news - Caution Alert
Post by: johncitizen on October 11, 2014, 02:07:11 am
Is bitcoin considered to be based in the U.S?   I would assume not.  Decentralized means just that right? no central government can claim it.  Can't an exchange be maintained by a network and decentralized also?

Thats what were trying to do.



In this madness one can only wonder. Perhaps they will knock on our door, maybe they will let themselves in. It would become a backlash and perhaps start something bigger globally. Invictus really have covered their asses.

If we all think about it.. this could be the perfect PR stunt? We could be just like bitcoin and the silk road only its BTSX and the SEC??

This is the 21st century. Laws are outdated and technology is exponential. We cant ask for permission for every groundbreaking innovation. The best thing to do is try to legally manoeuvre and continue pioneering.






Title: Re: Latest Bitcoin news - Caution Alert
Post by: fuzzy on October 11, 2014, 03:06:18 am
What is frustrating to some of us adam...is that you act unbiased.  As for me...im obviously biased and I state it as such. 

Also as far as newbies "often" being criticized...jesus.  you obviously do not know xeroc or the other MULTITUDES of people who actually pay out of their own pocket..or time... to help noobies frequently. 

As a matter of fact, bbx is there intentionally to give THEM a place where they can have a voice like you do with your show.  Go ahead and ask me if I have received payment for what ive done for these "asshole" noobies...and then when the answer is yes...ask everyone ive given the funds ive received to vouch for me.  It is literally insulting when you throw this crap around.

Second edit:  I look forward to your soon to be announced version of what we are doing here to "open up" the conversation.  If I were here for anything else but full respect the work Invictus has done...id be long gone by now...kind of like I am with bitcoin.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Riverhead on October 11, 2014, 03:11:37 am
The best thing to do is try to legally manoeuver and continue pioneering.
+5% +5%
Title: Re: Latest Bitcoin news - Caution Alert
Post by: oco101 on October 11, 2014, 03:13:21 am
It is literally insulting when you throw this crap around.

+1
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Stan on October 11, 2014, 03:23:09 am
The best thing to do is try to legally manoeuver and continue pioneering.
+5% +5%

"Decentralization means never having to say you're sorry."

"And when I die, and when I'm dead, dead and gone
They'll be one geek born in this world to carry on..."

http://www.youtube.com/watch?v=XS-gwb8eSc0 (http://www.youtube.com/watch?v=XS-gwb8eSc0)

(http://demotivational.in/wp-content/uploads/2012/12/When-i-die-resizecrop--.jpg)
Title: Re: Latest Bitcoin news - Caution Alert
Post by: fuzzy on October 11, 2014, 03:37:24 am
Stan....I see you and most all this community I have met as family...you are truly amazing people.  I apologize in advance for any problems my opinions cause...but I protect those I trust to the best of my ability.  Delulo...that includes you..even if we disagree on methods!
Title: Re: Latest Bitcoin news - Caution Alert
Post by: fuzzy on October 11, 2014, 04:37:25 am
Stan....I see you and most all this community I have met as family...you are truly amazing people.  I apologize in advance for any problems my opinions cause...but I protect those I trust to the best of my ability.  Delulo...that includes you..even if we disagree on methods!
I feel you bro... if you feel uncomfortable with this just leave it to me... but keep in mind that when you say it (as opposed to me saying the same thing), everybody knows it comes from the heart!

Ill wait for a cease and desist from invictus for that.  The fact that some of our delegates are paying him, though, for how "respected" he is perturbs me...

And before anyone jumps on the trains to "lets be nice" town, lets please ask ourselves what exactly he has really done other than consistenly imply bitshares is a dangerous scam to those new to the game where he is a gatekeeper.


Title: Re: Latest Bitcoin news - Caution Alert
Post by: Ggozzo on October 11, 2014, 04:58:08 am
http://www.reddit.com/r/Bitcoin/comments/2iuf4s/lukejrs_public_apology_for_poor_gentoo_packaging/
Title: Re: Latest Bitcoin news - Caution Alert
Post by: gamey on October 11, 2014, 07:57:53 am
Do you have an example of such behavior / statements?

Quote
The community defense team is why so few people who aren't true believers bother with this forum.  It's why there's now talk of if the forum is even a good place for anybody new because posting questions as a new user are often ridiculed or attacked as trolls or sockpuppets.

I read a thread recently about tonyk and this exact behavior, sorry I don't have a link it wasn't something I saved.
Tonyk is one individual. Everyone has his own opinions. Btw he rants against pretty much anything new users or BitShares Music like here https://bitsharestalk.org/index.php?topic=8652.0 Let's keep the discussion based on facts (not the emotional bias that we ALL have)

+5% 
Title: Re: Latest Bitcoin news - Caution Alert
Post by: vegolino on October 11, 2014, 08:47:54 am
Adam is best friend that BitShares could have.  In fact he is sometimes such a good friend as shown in this thread that there is no need for the enemies.
As they say who needs enemies when you have a such a good friends.  :)
Title: Re: Latest Bitcoin news - Caution Alert
Post by: liondani on October 11, 2014, 09:37:33 am
Stan....I see you and most all this community I have met as family...you are truly amazing people.  I apologize in advance for any problems my opinions cause...but I protect those I trust to the best of my ability.  Delulo...that includes you..even if we disagree on methods!
I feel you bro... if you feel uncomfortable with this just leave it to me... but keep in mind that when you say it (as opposed to me saying the same thing), everybody knows it comes from the heart!

Ill wait for a cease and desist from invictus for that.  The fact that some of our delegates are paying him, though, for how "respected" he is perturbs me...

And before anyone jumps on the trains to "lets be nice" town, lets please ask ourselves what exactly he has really done other than consistenly imply bitshares is a dangerous scam to those new to the game where he is a gatekeeper.

 +5%
Title: Re: Latest Bitcoin news - Caution Alert
Post by: AdamBLevine on October 11, 2014, 03:19:12 pm
Stan....I see you and most all this community I have met as family...you are truly amazing people.  I apologize in advance for any problems my opinions cause...but I protect those I trust to the best of my ability.  Delulo...that includes you..even if we disagree on methods!
I feel you bro... if you feel uncomfortable with this just leave it to me... but keep in mind that when you say it (as opposed to me saying the same thing), everybody knows it comes from the heart!

Ill wait for a cease and desist from invictus for that.  The fact that some of our delegates are paying him, though, for how "respected" he is perturbs me...

And before anyone jumps on the trains to "lets be nice" town, lets please ask ourselves what exactly he has really done other than consistenly imply bitshares is a dangerous scam to those new to the game where he is a gatekeeper.

Fuzz, I'm not being paid Bitsharesx and never have recieved any for anything I did not purchase with my own money or labor during the PTS period.   I agreed to lend my reputation to a delegate Toast wanted to run, I was very up-front with him (feel free to ask) that I was only doing it because there needed to be more delegates and that I would be donating the BTSX earned as prizes or giveaways on the network.

Here's the important part:
I have never received any BTSX from toast or anyone else, I assume he's stockpiling them but I don't have time to devote to the question.

So.... Do I get an apology since your lack of knowledge (or willingness to ask in order to get that information) led you to say things that are just flat out wrong.

What is frustrating to some of us adam...is that you act unbiased.  As for me...im obviously biased and I state it as such. 

Also as far as newbies "often" being criticized...jesus.  you obviously do not know xeroc or the other MULTITUDES of people who actually pay out of their own pocket..or time... to help noobies frequently. 

As a matter of fact, bbx is there intentionally to give THEM a place where they can have a voice like you do with your show.  Go ahead and ask me if I have received payment for what ive done for these "asshole" noobies...and then when the answer is yes...ask everyone ive given the funds ive received to vouch for me.  It is literally insulting when you throw this crap around.

Second edit:  I look forward to your soon to be announced version of what we are doing here to "open up" the conversation.  If I were here for anything else but full respect the work Invictus has done...id be long gone by now...kind of like I am with bitcoin.

I do not claim to be unbiased, please show me where I say that.  I am explicitly biased based on my view of reality and the facts as best I can reckon them, it's inherently dishonest and also boring to pretend to be unbiased as it means you are non-reactionary.   

Perhaps you're taking "non-biased" from my saying that it's important to let facts and reality guide our view of that reality vs. basing reality on what we wish was true because it would be better for our personal well being.  I guess that is a view of bias, I think of Bias more being interest -> action whereas this is more the distortion of looking at a real scene through thick, distorted glass.  The amount and severity of distortion determines to what degree your picture of reality is fractured and personalized (i.e. only you see things that way) or fogged and generalized.   There's not really such a thing as "no distortion" because as humans we have a certain base level built in, for example you can't hear an ultrasonic dog whistle or see IR light with only your human equiptment.   This extends to your mind, perceptions and beyond.    At a base human level, we share a set of broad human level distortions

What is bbx and what does it have to do with ltb?  Have I somehow edited or suppressed you?  I'm confused about your aggro, it's been quite present in your talking at me for a while now, and it's why I started using the forum defense force to refer to you as well. 

Mostly it seems like you're getting upset that I think people like tonyk (and you) have a net negative impact because you're nicer when someone agrees with you and very suspicious (i.e. protective) when they are asking questions you think might be dangerous to the project or that should somehow only be asked if a person is trying to generate FUD.

Ask Daniel if he thinks I act like a gatekeeper keeping out projects that don't follow my every whim, I really think you just don't know what you're talking about and it's very easy for you to know for sure.  Ask them, that's what people who want to know the truth do.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: xeroc on October 11, 2014, 04:09:17 pm
Mostly it seems like you're getting upset that I think people like tonyk (and you) have a net negative impact because you're nicer when someone agrees with you and very suspicious (i.e. protective) when they are asking questions you think might be dangerous to the project or that should somehow only be asked if a person is trying to generate FUD.
Please enlighten us and show where you came here to ASK a question ..

From what I can see from over here is YOU spreading FUD:

Quote
... and I'll be shocked if Invictus is not getting a knock on the door come raid day for Angelshares.

The question you SHOULD have asked would be like:

"Hey friends, I heard blabla... what's the status on that issue regarding AGS funds?"

See the question mark?
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Thom on October 11, 2014, 04:30:26 pm
Mostly it seems like you're getting upset that I think people like tonyk (and you) have a net negative impact because you're nicer when someone agrees with you and very suspicious (i.e. protective) when they are asking questions you think might be dangerous to the project or that should somehow only be asked if a person is trying to generate FUD.
Please enlighten us and show where you came here to ASK a question ..

From what I can see from over here is YOU spreading FUD:

Quote
... and I'll be shocked if Invictus is not getting a knock on the door come raid day for Angelshares.

The question you SHOULD have asked would be like:

"Hey friends, I heard blabla... what's the status on that issue regarding AGS funds?"

See the question mark?

I'm beginning to see more truth by the empirical evidence you're highlighting xeroc. I won't be quick to kick anybody to the curb, so I will continue to take it ALL in. But it's pretty easy to see the emotion in Adam's latest post, and you do make a good point here.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: AdamBLevine on October 12, 2014, 02:05:09 am
Mostly it seems like you're getting upset that I think people like tonyk (and you) have a net negative impact because you're nicer when someone agrees with you and very suspicious (i.e. protective) when they are asking questions you think might be dangerous to the project or that should somehow only be asked if a person is trying to generate FUD.
Please enlighten us and show where you came here to ASK a question ..

From what I can see from over here is YOU spreading FUD:

Quote
... and I'll be shocked if Invictus is not getting a knock on the door come raid day for Angelshares.

The question you SHOULD have asked would be like:

"Hey friends, I heard blabla... what's the status on that issue regarding AGS funds?"

See the question mark?

I didn't say I asked a question in this thread.  I was describing what I call the forum defense force.  In this thread I was sharing my view on the risk in play here specifically because it looked like people were overlooking the fact that AGS was funded by the US company invictus and that of all the targets out there, Invictus is very attractive if the rumor about 6 companies getting got in early november comes true.   Other likely candidates are Mastercoin, SWARM, Ethereum, Digital Tangible Trust, etc.

Or did I misunderstand your concern?
Title: Re: Latest Bitcoin news - Caution Alert
Post by: BitTitan on October 12, 2014, 02:09:40 am
What is all this ridiculousness about?  Are you a legal expert or something?

Bitcoin and all crypto are potentially capable of putting us all in prison.  Also don't expect forum members of competing Cryptos to give you hugs when you come in talking about how you chosen platform is safer or better than theirs.  What are you thinking man?!
Title: Re: Latest Bitcoin news - Caution Alert
Post by: hpenvy on October 12, 2014, 02:12:51 am
What is all this ridiculousness about?  Are you a legal expert or something?

Bitcoin and all crypto are potentially capable of putting us all in prison.  Also don't expect forum members of competing Cryptos to give you hugs when you come in talking about how you chosen platform is safer or better than theirs.  What are you thinking man?!

Nothing we say here will change what will happen down the road, we'll see what happens and adjust accordingly. I would think our time would be better spent helping push some of the Taskforce initiatives, maybe that's just me. Cheers.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: AdamBLevine on October 12, 2014, 02:14:36 am
Mostly it seems like you're getting upset that I think people like tonyk (and you) have a net negative impact because you're nicer when someone agrees with you and very suspicious (i.e. protective) when they are asking questions you think might be dangerous to the project or that should somehow only be asked if a person is trying to generate FUD.
Please enlighten us and show where you came here to ASK a question ..

From what I can see from over here is YOU spreading FUD:

Quote
... and I'll be shocked if Invictus is not getting a knock on the door come raid day for Angelshares.

The question you SHOULD have asked would be like:

"Hey friends, I heard blabla... what's the status on that issue regarding AGS funds?"

See the question mark?

I'm beginning to see more truth by the empirical evidence you're highlighting xeroc. I won't be quick to kick anybody to the curb, so I will continue to take it ALL in. But it's pretty easy to see the emotion in Adam's latest post, and you do make a good point here.

The question is whether my concern is FUD.  If you don't believe anything can happen to invictus, you'll believe anything I say that suggests the contrary is FUD because that lets you dismiss it out of hand.  It seems obvious I am passionate about people getting real information, i'm equally passionate in trying to explain to the people who want me to shut up why they want me to shut up :)
Title: Re: Latest Bitcoin news - Caution Alert
Post by: BitTitan on October 12, 2014, 02:17:34 am
So are you here giving legal advice then? Can we get that in writing or are you going to go do something more valuable for yourself and everyone else?
Title: Re: Latest Bitcoin news - Caution Alert
Post by: gamey on October 12, 2014, 02:49:04 am
The question is whether my concern is FUD.  If you don't believe anything can happen to invictus, you'll believe anything I say that suggests the contrary is FUD because that lets you dismiss it out of hand.  It seems obvious I am passionate about people getting real information, i'm equally passionate in trying to explain to the people who want me to shut up why they want me to shut up :)

You are bringing up things that were commented on quite some time ago for a question that no one here can even answer.  It appears purely malicious since no one can give an answer.  No one here has even done much to you except not follow your demands.  Maybe you should write some letters to the government since this appears who you seem to be directing this thread towards. :(
Title: Re: Latest Bitcoin news - Caution Alert
Post by: toast on October 12, 2014, 02:51:42 am
Guys, ABL is not the enemy...
Title: Re: Latest Bitcoin news - Caution Alert
Post by: bytemaster on October 12, 2014, 06:38:19 am

Guys, ABL is not the enemy...

+1

Ags is what it is.  If regulators decide it is a security then like sdice, we may have to pay $50k fine.   Guess what: we have already paid that much in lawyer fees trying to maintain compliance.   

No one is going to jail as no harm has been done.  No fraud.  At most a disagreement over interpretation of the law which we worked hard to comply with.   

Both sides need to take responsibility for poor Internet behavior.  Adam has always welcomed me on his show.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: cube on October 12, 2014, 08:41:19 am

Guys, ABL is not the enemy...

+1

Ags is what it is.  If regulators decide it is a security then like sdice, we may have to pay $50k fine.   Guess what: we have already paid that much in lawyer fees trying to maintain compliance.   

No one is going to jail as no harm has been done.  No fraud.  At most a disagreement over interpretation of the law which we worked hard to comply with.   

Both sides need to take responsibility for poor Internet behavior.  Adam has always welcomed me on his show.

Thanks for the information.

I am relieved to know that we are talking about a if-worst-case fine here (no jail thinggy) and an amount seems manageable.  Everyone involved are working hard here.  It is good to know that these efforts are protected by lawyers who are ensuring compliance.  +5%
Title: Re: Latest Bitcoin news - Caution Alert
Post by: cube on October 12, 2014, 08:48:56 am

I think sooner or later,the concept of DAC would be written in a case law. :P

If a person sells shares in a DAC without regulation,is it illegal? (regarding the security act)

The result would be interesting . "United States V BitsharesX"  .

...

I think it is going to be more of "The World VS Crypto".  Many countries outside USA are looking towards it as the leader when it comes to regulations for bitcoin and other crypto.  I am sure their securities regulators are watching the SEC and FinCen closely.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: luckybit on October 12, 2014, 09:40:45 am

Guys, ABL is not the enemy...

+1

Ags is what it is.  If regulators decide it is a security then like sdice, we may have to pay $50k fine.   Guess what: we have already paid that much in lawyer fees trying to maintain compliance.   

No one is going to jail as no harm has been done.  No fraud.  At most a disagreement over interpretation of the law which we worked hard to comply with.   

Both sides need to take responsibility for poor Internet behavior.  Adam has always welcomed me on his show.

I think sooner or later,the concept of DAC would be written in a case law. :P

If a person sells shares in a DAC without regulation,is it illegal? (regarding the security act)

The result would be interesting . "United States V BitsharesX"  .

Maybe you can get in contact with the 《the good wife》 producer and be a guest star of the episode.

When I watch 《the good wife》 back then there was an episode regarding a hypothetical case against Bitcoin-Satoshi,the Bitcoin price was 30$ at the time.

But I thought Bitcoin was just a made up idea the TV show uses,so I didn't dig deeper.When I finally realized Bitcoin did exist,it's already too late .

If it does look like there will be a confrontation with legal authorities my advice to Bytemaster is to film a documentary of the events. This would force the feds to stay honest as it would put the maximum possible spotlight on the situation.

And also for history sake it should be properly documented. Historians will have to know what Bytemaster was thinking, why he and the team got involved with this project, why he and the team were willing to take risks.

At the same time on some smaller scale if shit goes down all of us should keep a blog and document our perspectives as well. It would not take much effort for us to keep pseudo-anonymous twitter accounts and discuss the situation or just discuss it on the forum. The point is that our motivations should be documented as well so that no matter if what we are doing turns out to be legal or illegal our intentions can never be politically manipulated after the fact.

Title: Re: Latest Bitcoin news - Caution Alert
Post by: xeroc on October 12, 2014, 09:46:13 am

Guys, ABL is not the enemy...

+1

Ags is what it is.  If regulators decide it is a security then like sdice, we may have to pay $50k fine.   Guess what: we have already paid that much in lawyer fees trying to maintain compliance.   

No one is going to jail as no harm has been done.  No fraud.  At most a disagreement over interpretation of the law which we worked hard to comply with.   

Both sides need to take responsibility for poor Internet behavior.  Adam has always welcomed me on his show.

I think sooner or later,the concept of DAC would be written in a case law. :P

If a person sells shares in a DAC without regulation,is it illegal? (regarding the security act)

The result would be interesting . "United States V BitsharesX"  .

Maybe you can get in contact with the 《the good wife》 producer and be a guest star of the episode.

When I watch 《the good wife》 back then there was an episode regarding a hypothetical case against Bitcoin-Satoshi,the Bitcoin price was 30$ at the time.

But I thought Bitcoin was just a made up idea the TV show uses,so I didn't dig deeper.When I finally realized Bitcoin did exist,it's already too late .

If it does look like there will be a confrontation with legal authorities my advice to Bytemaster is to film a documentary of the events. This would force the feds to stay honest as it would put the maximum possible spotlight on the situation.

And also for history sake it should be properly documented. Historians will have to know what Bytemaster was thinking, why he and the team got involved with this project, why he and the team were willing to take risks.

At the same time on some smaller scale if shit goes down all of us should keep a blog and document our perspectives as well. It would not take much effort for us to keep pseudo-anonymous twitter accounts and discuss the situation or just discuss it on the forum. The point is that our motivations should be documented as well so that no matter if what we are doing turns out to be legal or illegal our intentions can never be politically manipulated after the fact.
+5% +5% +5%
Title: Re: Latest Bitcoin news - Caution Alert
Post by: fuzzy on October 12, 2014, 12:17:53 pm

Guys, ABL is not the enemy...

+1

Ags is what it is.  If regulators decide it is a security then like sdice, we may have to pay $50k fine.   Guess what: we have already paid that much in lawyer fees trying to maintain compliance.   

No one is going to jail as no harm has been done.  No fraud.  At most a disagreement over interpretation of the law which we worked hard to comply with.   

Now the real question is, since bm could so easily answer this question is whether Adam feels sorry for this drama.  Does he, in retrospect, feel like maybe it would have been more effective and beneficial to everyone on the forums (including himself) to have made statements of the "shocking" dangers inherent in bitshares AGS first in private to ascertain Invictus' thoughts before bringin it so negligently to the forums?" 

This would have been seen as far more genuine and benevolent path than completely bypassing the invictus team, and potentially scaring away newbies who came here after the conference...

If adam can agree with this assessment I think there is good reason to believe we can move forward in the knowledge of how to garner community support instead of becoming the target of anger and resentment.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Stan on October 12, 2014, 01:17:04 pm

Guys, ABL is not the enemy...

+1

Ags is what it is.  If regulators decide it is a security then like sdice, we may have to pay $50k fine.   Guess what: we have already paid that much in lawyer fees trying to maintain compliance.   

No one is going to jail as no harm has been done.  No fraud.  At most a disagreement over interpretation of the law which we worked hard to comply with.   

Now the real question is, since bm could so easily answer this question is whether Adam feels sorry for this drama.  Does he, in retrospect, feel like maybe it would have been more effective and beneficial to everyone on the forums (including himself) to have made statements of the "shocking" dangers inherent in bitshares AGS first in private to ascertain Invictus' thoughts before bringin it so negligently to the forums?" 

This would have been seen as far more genuine and benevolent path than completely bypassing the invictus team, and potentially scaring away newbies who came here after the conference...

If adam can agree with this assessment I think there is good reason to believe we can move forward in the knowledge of how to garner community support instead of becoming the target of anger and resentment.

The BitShares AGS Program is clearly defined at this link.

https://bitsharestalk.org/index.php?topic=1863.msg21379#msg21379 (https://bitsharestalk.org/index.php?topic=1863.msg21379#msg21379)

It has been reviewed and polished by multiple international law firms.

Since we have clearly stated in all such formal releases from Day One that AGS contributions were no strings attached donations to be used any way we chose to build up the industry, the only thing authorities may have to worry about is whether people may have misunderstood that fact as a result of the public discussions of multiple alternative ideas that have taken place on this forum.  Repeated, nearly weekly, willfully misleading adversarial postings by respected public figures insisting that something else is true are, in my opinion, the primary cause of any such misunderstandings that might exist, and we will certainly point that out should any authorities ask about it.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: xeroc on October 12, 2014, 01:46:19 pm
The BitShares AGS Program is clearly defined at this link.

https://bitsharestalk.org/index.php?topic=1863.msg21379#msg21379 (https://bitsharestalk.org/index.php?topic=1863.msg21379#msg21379)

It has been reviewed and polished by multiple international law firms.

Since we have clearly stated in all such formal releases from Day One that AGS contributions were no strings attached donations to be used any way we chose to build up the industry, the only thing authorities may have to worry about is whether people may have misunderstood that fact as a result of the public discussions of multiple alternative ideas that have taken place on this forum.  Repeated, nearly weekly, willfully misleading adversarial postings by respected public figures insisting that something else is true are, in my opinion, the primary cause of any such misunderstandings that might exist, and we will certainly point that out should any authorities ask about it.
Thanks for clarification .. I just highlighted some essentials sor Adam .. as he might have misinterpreted them in the past and stated wrongly in this thread somewhere ..
Title: Re: Latest Bitcoin news - Caution Alert
Post by: James212 on October 12, 2014, 02:04:04 pm

Guys, ABL is not the enemy...

+1

Ags is what it is.  If regulators decide it is a security then like sdice, we may have to pay $50k fine.   Guess what: we have already paid that much in lawyer fees trying to maintain compliance.   

No one is going to jail as no harm has been done.  No fraud.  At most a disagreement over interpretation of the law which we worked hard to comply with.   

Now the real question is, since bm could so easily answer this question is whether Adam feels sorry for this drama.  Does he, in retrospect, feel like maybe it would have been more effective and beneficial to everyone on the forums (including himself) to have made statements of the "shocking" dangers inherent in bitshares AGS first in private to ascertain Invictus' thoughts before bringin it so negligently to the forums?" 

This would have been seen as far more genuine and benevolent path than completely bypassing the invictus team, and potentially scaring away newbies who came here after the conference...


If adam can agree with this assessment I think there is good reason to believe we can move forward in the knowledge of how to garner community support instead of becoming the target of anger and resentment.

 +5%..............  I agree adam’s initial comments, (even if he felt they were true) were delivered fairly irresponsibly and should have been done with far more tact.       I can help but to wonder if he has similar comments on the boards of the other crypto organizations mentioned to be at risk?

Edit: (.....I have no problems with ABL. however these are my thoughts regarding the current issue at hand)
Title: Re: Latest Bitcoin news - Caution Alert
Post by: fuzzy on October 12, 2014, 04:09:18 pm
One instance of humility would go a longggg way here...at least with me.

Admission of mistakes is not the sign of weakness.

"A life spent making mistakes is not only more honorable but more useful than a life spent doing nothing."
Title: Re: Latest Bitcoin news - Caution Alert
Post by: fuzzy on October 12, 2014, 04:20:03 pm

Guys, ABL is not the enemy...

+1

Ags is what it is.  If regulators decide it is a security then like sdice, we may have to pay $50k fine.   Guess what: we have already paid that much in lawyer fees trying to maintain compliance.   

No one is going to jail as no harm has been done.  No fraud.  At most a disagreement over interpretation of the law which we worked hard to comply with.   

Both sides need to take responsibility for poor Internet behavior.  Adam has always welcomed me on his show.

I think sooner or later,the concept of DAC would be written in a case law. :P

If a person sells shares in a DAC without regulation,is it illegal? (regarding the security act)

The result would be interesting . "United States V BitsharesX"  .

Maybe you can get in contact with the 《the good wife》 producer and be a guest star of the episode.

When I watch 《the good wife》 back then there was an episode regarding a hypothetical case against Bitcoin-Satoshi,the Bitcoin price was 30$ at the time.

But I thought Bitcoin was just a made up idea the TV show uses,so I didn't dig deeper.When I finally realized Bitcoin did exist,it's already too late .

If it does look like there will be a confrontation with legal authorities my advice to Bytemaster is to film a documentary of the events. This would force the feds to stay honest as it would put the maximum possible spotlight on the situation.

And also for history sake it should be properly documented. Historians will have to know what Bytemaster was thinking, why he and the team got involved with this project, why he and the team were willing to take risks.

At the same time on some smaller scale if shit goes down all of us should keep a blog and document our perspectives as well. It would not take much effort for us to keep pseudo-anonymous twitter accounts and discuss the situation or just discuss it on the forum. The point is that our motivations should be documented as well so that no matter if what we are doing turns out to be legal or illegal our intentions can never be politically manipulated after the fact.

Wow...I never considered how beneficial the Mumble Hangouts are from this vantage point.  Thanks Luckybit.  As always, my deepest respect.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: roadscape on October 12, 2014, 04:53:33 pm
It's funny how some people seem to think I take some sort of pleasure in this, I don't.

A little bit of tact goes a long way in how our writings are perceived/interpreted.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: oco101 on October 12, 2014, 05:06:23 pm
It's funny how some people seem to think I take some sort of pleasure in this, I don't.

A little bit of tact goes a long way in how our writings are perceived/interpreted.

Agree that's my main problem with Adam.  He shoot first then ask later.
 I'll be shocked if he would do it any different.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Riverhead on October 12, 2014, 06:04:44 pm

Agree that's my main problem with Adam.  He shoot first then ask later.
 I'll be shocked if he would do it any different.

It certainly gets a lot of eyes on a thread. Keep in mind this forum has 7k members. If even 10% of them are real people that just lurk he's getting his message out.

Adam may not be the enemy but he may not be a friend either and frankly that's OK. This is business; we aren't here to make friends. We're here to change the financial world and hopefully gain some financial independence along the way.

I say keep posting sensationalist questions. It certainly generates a lot of conversation. What I would like to see though is the conversation being not about what Adam's motives are but rather 1) Is it a valid question/concern? 2) Why or why not?

If it's not explain why and get on with your day. If it is valid then answer or let someone else who knows. Getting upset isn't going to solve anything.

Previous business associations and issues between LTBN, BB, and BBX are just that. Nothing really to do with BitShares.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: James212 on October 12, 2014, 06:20:39 pm

Agree that's my main problem with Adam.  He shoot first then ask later.
 I'll be shocked if he would do it any different.

Getting upset isn't going to solve anything.


I disgaree.  It is important to challenge those who would spread "truth" in such a way as to cause maximum damage.  ....... Yelling FIRE in a crowded theater as it were. 
Title: Re: Latest Bitcoin news - Caution Alert
Post by: fuzzy on October 13, 2014, 11:15:58 am

Agree that's my main problem with Adam.  He shoot first then ask later.
 I'll be shocked if he would do it any different.

It certainly gets a lot of eyes on a thread. Keep in mind this forum has 7k members. If even 10% of them are real people that just lurk he's getting his message out.

Adam may not be the enemy but he may not be a friend either and frankly that's OK. This is business; we aren't here to make friends. We're here to change the financial world and hopefully gain some financial independence along the way.

I say keep posting sensationalist questions. It certainly generates a lot of conversation. What I would like to see though is the conversation being not about what Adam's motives are but rather 1) Is it a valid question/concern? 2) Why or why not?

If it's not explain why and get on with your day. If it is valid then answer or let someone else who knows. Getting upset isn't going to solve anything.

Previous business associations and issues between LTBN, BB, and BBX are just that. Nothing really to do with BitShares.

Agreed...very good point. 

However, I will say why I "defend" against "attacks".  There are many newbies coming in nowadays....and those newbies can be scared very easily into doing something bad for their own pocket-book.  Now i'm not saying we have to make everything safe...but it is our obligation to try to protect those who are interested in crypto and have found this little oasis. 

After awhile of someone asking questions and posting FUD with literally no backing (80%+ of the time), it needs to become apparent that said person is aware of that about which they are complaining.  If he cannot answer the questions the community asks...his motives must become suspect. 

This entire idea about "attacking people" is not really attacking.  If you notice, I never call Adam any names or say he has no value or anything to that effect.  His Motives ARE questionable and it is proven by his willingness to consistently come on here with strawman arguments.  Now if we are always playing nice and not "defending" so-to-speak...the ultimate noobie who just bought his/her first bitcoin and is thinking about parting with some of it for a stake in Bitshares, comes here and reads Adam's FUD, might say "omg he has a show in Bitcoin! I better listen to his advice first and foremost". 

This is very dangerous stuff.  People with power should recognize that with that power comes responsibility.  If there is a legitimate concern, it should be noted...but if it is a concern with no legitimacy, it should be confronted. 

I do agree, however, that the anger directed toward A and the Empire does not necessarily help us, though.  Really sometimes think that is the primary reason for these methods of coming onto forums and trying to shake confidence in the entire system.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Thom on October 13, 2014, 03:48:21 pm
Thanks Fuzz for your voice of reason. You've mentioned unanswered community questions posed to ABL in several of your posts, can you point me to forum threads with them?

I like the balance of your remarks, but to lend credibility to them for the noobs (and I consider myself one of them, since I am not aware of such questions posed to ABL) it would be great to create a post or thread that references those questions.

But I also see truth in what NewMine said below.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: NewMine on October 13, 2014, 03:51:41 pm
theFU,
You called him a "gatekeeper" clearly implying he is censoring and controlling Bitshares issues, topics and the potential flow of Bitshares new users.


It's also quite clear by your tone that you don't like Adam. I've read it that way since Arthur "left". Judging from your posts are are a "cryptoanarchist" with zero taste for people lead or created hierarchies.  You are certainly entitled to those opinions and beliefs and by no means do you HAVE to like anyone.

However, you are proving Adams point by jumping on every little post/statements he makes, calling him names and a FUD spreader.  Adam is invested in Bitshares and has valid concerns. If you don't agree, say you don't agree, the reasons why and leave the ad hominem attacks out. I am quite certain had the personal attacks on Adam never taken place he would have never used terms like "defense team" and "echo chamber". By personal attacks I mean questioning his intent.  As BM, Stan etc have shown, Adams questions concerns are valid and aren't taken as a personal attack.

Anyway, how about that FreeTrade and LTS?
Title: Re: Latest Bitcoin news - Caution Alert
Post by: donkeypong on October 13, 2014, 05:52:52 pm

Ags is what it is.  If regulators decide it is a security then like sdice, we may have to pay $50k fine.   Guess what: we have already paid that much in lawyer fees trying to maintain compliance.   

No one is going to jail as no harm has been done.  No fraud.  At most a disagreement over interpretation of the law which we worked hard to comply with.   


I won't comment on Adam's PMS.

The way the crypto community hates government regulation, paying a fine to the SEC might be a genuine badge of honor. It could be the best $50K BitShares has ever spent on advertising!

However, I thought this thread began with discussion of FINCEN, not the SEC? As far as I know, the only part FINCEN cares about is the money transmitter thing and I don't see that going on here. So when someone else is talking about imminent FINCEN action against other Bitcoin businesses, etc., that doesn't equate to a knock on the door from the SEC. Don't confuse your agencies.

The SEC is a different beast. That's why they pay the lawyers. Thank goodness for play money and for third party DAC developers who are not obligated to give a dime of their DAC stakes to anyone. If they so choose, they can honor the Social Consensus. I donated to help build this ecosystem. I came away with a HOPE, but NO EXPECTATION that my donation might be rewarded by a generous third party DAC developer who wishes to ingratiate himself/herself to the community. The fact that some of us in the community make liberal use of the "invest" word doesn't mean a damn thing; it's never been tied to expectation, only to hope.
Title: Re: Latest Bitcoin news - Caution Alert
Post by: tonyk on October 13, 2014, 06:03:54 pm

Ags is what it is.  If regulators decide it is a security then like sdice, we may have to pay $50k fine.   Guess what: we have already paid that much in lawyer fees trying to maintain compliance.   

No one is going to jail as no harm has been done.  No fraud.  At most a disagreement over interpretation of the law which we worked hard to comply with.   


I won't comment on Adam's PMS.

The way the crypto community hates government regulation, paying a fine to the SEC might be a genuine badge of honor. It could be the best $50K BitShares has ever spent on advertising!

However, I thought this thread began with discussion of FINCEN, not the SEC? As far as I know, the only part FINCEN cares about is the money transmitter thing and I don't see that going on here. So when someone else is talking about imminent FINCEN action against other Bitcoin businesses, etc., that doesn't equate to a knock on the door from the SEC. Don't confuse your agencies.

The SEC is a different beast. That's why they pay the lawyers. Thank goodness for play money and for third party DAC developers who are not obligated to give a dime of their DAC stakes to anyone. If they so choose, they can honor the Social Consensus. I donated to help build this ecosystem. I came away with a HOPE, but NO EXPECTATION that my donation might be rewarded by a generous third party DAC developer who wishes to ingratiate himself/herself to the community. The fact that some of us in the community make liberal use of the "invest" word doesn't mean a damn thing; it's never been tied to expectation, only to hope.
+5%
Title: Re: Latest Bitcoin news - Caution Alert
Post by: bytemaster on October 13, 2014, 06:15:37 pm

Ags is what it is.  If regulators decide it is a security then like sdice, we may have to pay $50k fine.   Guess what: we have already paid that much in lawyer fees trying to maintain compliance.   

No one is going to jail as no harm has been done.  No fraud.  At most a disagreement over interpretation of the law which we worked hard to comply with.   


I won't comment on Adam's PMS.

The way the crypto community hates government regulation, paying a fine to the SEC might be a genuine badge of honor. It could be the best $50K BitShares has ever spent on advertising!

However, I thought this thread began with discussion of FINCEN, not the SEC? As far as I know, the only part FINCEN cares about is the money transmitter thing and I don't see that going on here. So when someone else is talking about imminent FINCEN action against other Bitcoin businesses, etc., that doesn't equate to a knock on the door from the SEC. Don't confuse your agencies.

The SEC is a different beast. That's why they pay the lawyers. Thank goodness for play money and for third party DAC developers who are not obligated to give a dime of their DAC stakes to anyone. If they so choose, they can honor the Social Consensus. I donated to help build this ecosystem. I came away with a HOPE, but NO EXPECTATION that my donation might be rewarded by a generous third party DAC developer who wishes to ingratiate himself/herself to the community. The fact that some of us in the community make liberal use of the "invest" word doesn't mean a damn thing; it's never been tied to expectation, only to hope.

I would like to add further that SEC actions are CIVIL while FINCEN may be criminal.  This is a huge difference.  In CIVIL actions jail is clearly off the table and ultimately bankruptcy is the worst possible outcome.    There are limits on the size of fines SEC can apply by law.   In any event, DACs are DECENTRALIZED and with our latest innovations they are now self funding.   Our mission has been accomplished. 


Title: Re: Latest Bitcoin news - Caution Alert
Post by: liondani on October 13, 2014, 06:34:12 pm
In any event, DACs are DECENTRALIZED and with our latest innovations they are now self funding.   Our mission has been accomplished.

 +5% +5% +5%
Title: Re: Latest Bitcoin news - Caution Alert
Post by: Stan on October 13, 2014, 08:28:41 pm
In any event, DACs are DECENTRALIZED and with our latest innovations they are now self funding.   Our mission has been accomplished.

http://www.youtube.com/watch?v=mzZOiLoz2E8 (http://www.youtube.com/watch?v=mzZOiLoz2E8)

;D
Title: Re: Latest Bitcoin news - Caution Alert
Post by: fuzzy on October 13, 2014, 08:40:06 pm
theFU,
You called him a "gatekeeper" clearly implying he is censoring and controlling Bitshares issues, topics and the potential flow of Bitshares new users.
(it is "theFu.."---not to be confused with "theFuckU") and it is an inside joke because gamey lost the Z key on his keyboard and pledged to use ".." instead of "zz".  Thanks for noticing...though I understand why you would assume otherwise :P

It's also quite clear by your tone that you don't like Adam. I've read it that way since Arthur "left". Judging from your posts are are a "cryptoanarchist" with zero taste for people lead or created hierarchies.  You are certainly entitled to those opinions and beliefs and by no means do you HAVE to like anyone.

However, you are proving Adams point by jumping on every little post/statements he makes, calling him names and a FUD spreader.  Adam is invested in Bitshares and has valid concerns. If you don't agree, say you don't agree, the reasons why and leave the ad hominem attacks out. I am quite certain had the personal attacks on Adam never taken place he would have never used terms like "defense team" and "echo chamber". By personal attacks I mean questioning his intent.  As BM, Stan etc have shown, Adams questions concerns are valid and aren't taken as a personal attack.

Anyway, how about that FreeTrade and LTS?

I actually do not "dislike" Adam.  I am certainly disdainful of unnecessary hierarchy.  Trust me there are probably 100+ people on these forums who know far more than Adam with respect to crypto.  I wont name names, but we have a bunch of badasses on here...and that is why I try to have my opinions, but acknowledge their value by PAYING OUT OF POCKET to give them the mumble server for these "townhall" style hangouts.

For those who are not aware (and I am very busy so you'll have to peruse the forums--it is alllll there!), Adam approached me a long time ago and asked me to be part of LTBN with this and I (nicely) declined.  I did not want to be a figurehead (though I want my ample voice heard...like anyone).  It was not because I disliked Adam...but instead because it didn't sit well with me that everything crypto seemed to be consolidate under one single roof--specifically biased toward bitcoin.  This is not because I am against bitcoin or Adam...but because mining manufacturers and other problem power centers in bitcoin have largely overtaken everything with respect to crypto. 

If you go back far enough, the entire community was really engaged and nice with Adam for a long time.  We actually have threads trying to help him think through ideas he wanted to bring to life for his multiple business enterprises...he even had www.dacindex.com made so he could help our ecosystem.  However Adam seemed to get livid when (as with most startup organizations) certain unforeseen problems arose.  AGS was created partially to help with them (if they wouldn't have been created...bitshares would not exist--or at least would be crippled by a lack of funding).  Adam fell on one side and it seemed a majority of the community on the other (though certainly not all of them).  Initially I was actually WITH Adam (then known as "lighthouse") on AGS until Dan changed the proposition from 10%PTS/10%AGS to 50%/50% (due largely, in fact, to my comments on the matter at that time).  It more than made up for the issues that arose and the apparent dilution of shareholder funds that AGS represented. 

From then on...Adam really started to nitpick at things he really had no clue about.  Instead of asking questions and asking the community what they thought, it was a statement of fact, nearly every time.  The next round was when Adam wanted to launch LTBCoin...and he was frustrated at the progress of bitshares (he must have been firmly considering it as his platform?) and wanted them to simply release it quickly and fix it as they went along.  Once again--terrible idea for MANY reasons. 

I think we can all say that we are glad that Dan took the extra time to "reinvent the wheel" (look that term up to find some of the conversations).  If he had done with Adam wanted... you would likely be bag holders or not here at all right now.  So my concern is largely with respect to protecting YOU!

I am not a programmer but have been around them all my life and I know quite well that engineering quality programs requires a great deal of analysis, planning, design, implementation, and maintenance...in cycles called an "iterative process".  Sometimes you get almost to the end where you think you are finished and find a potential flaw that forces you to redesign huge portions of the program.  And let us not forget...Dan was taking into account the FLAWS of POW and Bitcoin (which Adam certainly has a huge stake in) in order to fix them. 

Then One day I was listening to his show (yes...i am a listener! D:) and heard him compare bitshares to Ripple (notice I didn't say contrast).  Now having invested a large portion of what I had left after being raped by pump and dump "feature-based" clones, thinking I was "diversifying", I was pretty frustrated.  Why?  Because he rarely if ever warned so seriously about the centralization of mining cartels and their pump and dump schemes that steal value (not create it). 

Even some of his counterparts were overly harsh--saying that they heard in bitcoin circles of "who's who" in bitcoin that bitshares was potentially a very dangerous investment.  Of course, wonderfully, Andreas and Stephanie Murphy were not in any way as bad with this...far more objective I think.  We can now see who of them was closest to being right.  Even the other LTB fella who had issues has since given them love for their accomplishments.     

By this time, however, Adam had chosen counterparty to launch LTBCoin.  This actually was understandable if he wanted the "first mover's advantage" in the crypto-podcast sphere.  He is a smart businessman...I give credit where (I think) it is due. 

Meanwhile he would continue to come on here saying how counterparty released their project early and worked on it as they went...blah blah blah.  Now can counterparty theoretically reach 10,000tx/sec, polymorphic assets backed by 200% collateral, TITAN or 10-15 second tx times?  Answer...No (and it will take a multibillion dollar company to fund them in order to get them even close).  If Adam had his way you (and all of us here) would be stuck with a project no better than any other 2.0 out there, watching XCP blow past us.  Instead we are all looking at the BEGINNING bitshares toolkit which has not even had time to fully blossom creating our first 50+ million dollar mktcap company.  This is not even to mention the other shares we all will receive for this wait--have you seen the bitshares MUSIC buzz??  Or P2P already in the top 20 (if coinmarketcap were to list it)?

Again, if Adam had his way ...it never would have happened.  It is kind of sucky that you think that I hate Adam.  I simply show him the respect he shows our community and some of the most RESPECTABLE devs I have been blessed to know. 

And let us remember...Instead of ever saying sorry (please send me a link if I am incorrect here), he comes on here consistently finding new "flaws" with such fervent energy that I have absolutely no other reason but to believe he actually is very lightly invested in bitshares compared to their competitors...and he wants to cripple the movement. 

There is so much to this whole ball of wax...but I would much rather not get into it.  Not because I don't want you to know about it but because I would rather Adam either show up and be constructive or not show up at all.  If you will notice, we field MANY concerned questions in this community and rarely does someone cause the drama that he does.  We can take questions and concerns.  In fact I have had my own concerns that I SHARED with Adam (as well as others).  He might say it is "our problem", but then why the hell does he still come here?  Because he cares?  Nice way to show it...

We are all learning here...and this is going to become very political in time (already?).  We should all be able to admit when we have been explicitly proven wrong.  It helps us grow.  We should also do our best to not pretend to be "platform agnostic" as this simply does not exist.  It is like you saying you are a Unicorn and rainbows fly out of your ass (pardon my wording, but you get the point). 

Humans by our VERY nature conspire.  I conspire too!  Guess what, if you think you don't...have you ever bought a box of chocolates and roses for your g/f on valentines day, hoping to receive something else (cough cough) in return?  If you have...congratulations...you are a conspirator.  If I saw you buy the chocolates and roses,  kneel to a girl to give them to her, and knew it was valentines day,...and I say you are conspiring for something all men want, is that being a conspiracy theorist?  Damn right it means that.  All the quantifiable evidence points to one thing...and we both know what it is. 

So I understand your curiosity and in part concern...but I have actually even withheld a great deal of these historical issues from the conversation so I don't play a role in another drama fest (that and i'm going on about 40 hours without sleep now). 

As for Beyond Bitcoin (LTB) --which is what Arthur said he was going to do...it is now labeled "Beyond Bitcoin".  Now if you look closely at our forum, and you can even look at past screenshots--if a mod can do it for you...you will see that OUR Beyond Bitcoin has (BTS) beside it. 

This is because Arthur was supposed to be responsible for the LTB division.  I was supposed to have responsibility over the BTS division and Arthur was supposed to regularly be a part of this.   But if you notice when you watch Arthur's show on LTB...well for some reason they refrain from even acting like there ARE OTHER divisions. 

Now with that said...if you have ever had a complaint about marketing, this should upset you.  If it doesn't, you either want to lose money or you have been smoking too much hookah ;)

Oh...and about Freetrade.  I asked him Repeatedly to come on and chat with the community to clear up these crazy issues.  It is not my fault he refused.  Or are you implying somehow it is? :/

Title: Re: Latest Bitcoin news - Caution Alert
Post by: Stan on October 13, 2014, 09:23:21 pm
I still would not hold any of that against whoever it is you are talking about.
(I once thought I had made a grave error in judgement myself ... turned out I was wrong.)

And some of my favorite personalities on this forum strongly resemble
The North End of A Southbound Donkey.

(http://img.freepik.com/free-photo/eeyore-character-cartoon-donkey-vector_21-14903517.jpg?size=318&ext=jpg)

But if such a person were to make false claims about what we are doing
which have been answered here over and over again to the contrary
That would be crossing the line.

Such actions hurt everybody's investment.
Deliberately risking or causing real financial or legal damage to our stakeholders should not be condoned.
Even in the name of tolerance.

 :)
Title: Re: Latest Bitcoin news - Caution Alert
Post by: donkeypong on October 14, 2014, 09:35:05 pm
I still would not hold any of that against whoever it is you are talking about.
(I once thought I had made a grave error in judgement myself ... turned out I was wrong.)

And some of my favorite personalities on this forum strongly resemble
The North End of A Southbound Donkey.

(http://img.freepik.com/free-photo/eeyore-character-cartoon-donkey-vector_21-14903517.jpg?size=318&ext=jpg)

But if such a person were to make false claims about what we are doing
which have been answered here over and over again to the contrary
That would be crossing the line.

Such actions hurt everybody's investment.
Deliberately risking or causing real financial or legal damage to our stakeholders should not be condoned.
Even in the name of tolerance.

 :)

The perfect way to end this thread...with a steaming pile of donkey shite.

(http://www.countrygalsfarm.com/img/manure-pile1-300x246.jpg)