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Messages - lil_jay890

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31
General Discussion / Re: BlockPay in Serious Trouble
« on: May 09, 2017, 05:23:17 pm »
So after listening to the latest mumble... It sounds like the Blockpay token will either be exchanged or redefined.  Chris said it was mainly going to be for branding reasons, but the real reason sounds like it is to remove Ken from the equation.  How that is done seems to be up in there air still though.

There were several vague terms like "mess" thrown around, but the subject was danced around.  Also it sounds like Ken has still not been paid, which makes me think Stealth has been delayed.  This topic was also danced around.

Overall there is a lot of uncertainty brewing.  Changing the rules of the Blockpay token is worrisome.  The effort to cut out Ken seems like it will be very detrimental to the entire project.  Not only will there be legal battles (which i'm sure will be paid for from the funds that were raised from investors), but any progress on any of the projects will likely come to a standstill in Ken's absence.  Thom and JoeyD? seemed to do a good job asking some pointed questions, but the answer's were very vague and eventually the conversation digressed.

32
General Discussion / Re: Bitshares price discussion
« on: May 08, 2017, 04:13:42 pm »
Quote from: lakerta06 on May 08, 2017, 12:06:25 pm
Where did all the FUD go? I am used to read all that FUD when the price is moving

Ok... Here is what many consider FUD... Even though they are valid concerns.

1.  And this is an obvious #1,  bitshares is merely caught up in a giant alt coin pump.  While seeing it move up against some of the other currencies is a positive, did Bytecoin, Stellar, factom, peercoin or 90% of the other coins do anything to warrant their pump as well?  No.

2.  The pump is being contained mostly to the centralized exchanges.  Account creations is stagnant and transfers hasn't made a new high.  Filled orders has made new highs, but that is probably due to more people hearing about all the easy money they can make running a bot... I'm sure that is going to end well.

3.  The money isn't flowing to derivative projects for basically any of the major platforms.  The money is staying one derivative below bitcoin.  In real bull markets, small caps outperform large caps.

4.  Bitshares fundamentals have not changed (mostly the inability for the chain to not operate at a loss), and in some cases the fundamentals have gotten worse.  The debacle at blockpay and possible delay of stealth is very concerning.  Not everyone shares this opinion, but I believe stealth was the most important factor for near term BTS growth.

Whats bullish??

The inablility for people to withdraw bitcoin to fiat is bullish.  It gives exposure to bitUSD or bitCNY as a low volatility solution.  Their has definitely been growth there, and maybe the bitUSD/CNY holders will begin to look at projects on the DEX and start investing in those.

Momentum- The momentum is super strong in everything crypto, but that could change on a dime with one quip out of the PBOC or other regulatory board about crypto currencies.  I think all of crypto, including BTS has either topped or will top this week.  How long that top lasts I don't know, but I expect btc to be at $1000USD and bts at $0.015 by the end of June.

Bulls make money, bears make money, pigs get slaughtered... Don't be a pig if you are sitting on a 10-15 bagger here.  Parabolic markets always reverse and they reverse hard.

33
General Discussion / Re: Bitshares price discussion
« on: May 07, 2017, 03:18:39 am »
Quote from: btswildpig on May 07, 2017, 03:05:39 am
Quote from: fluxer555 on May 06, 2017, 04:21:56 pm
You lost me at

Quote from: CoinHoarder on May 06, 2017, 12:52:34 pm
An increasingly ALT/Bitcoin bear market

This is the most bullish crypto market we've ever seen currently.

I think it's most obvious that the price rise is due to the good news that has come out: EOS + HERO

look at Doge coin....do they have EOS + HERO ?

look at STR....

look at other crap coins......

it's not related to news.
it's related to the acceleration of an overall bullish market.

My guess is much of the price rise could be blamed on the inability to sell BTC on the exchanges... BTC holders (Chinese??) could be trying to lower their exposure by diversifying across other crypto's which is causing the spike in virtually every alt.  The alt coin derivatives, such as many of the ethereum, nxt, and bitshares based assets have not seen as dramatic of a price rise.  Question is, does this money that's flowed into the more liquid alt coins move to the less liquid alt coin derivative and assets?  That could be the next boom...

34
Openledger / Re: ANN Apptrade Master Token Crowdsale NOW LIVE
« on: May 06, 2017, 03:40:50 pm »
Quote from: lil_jay890 on April 18, 2017, 03:18:46 pm
Quote from: ccedk_pro on April 18, 2017, 12:20:18 pm
The final outcome of the ITO and how we will proceed, you will really know only when the ITO ends. Apptrade is not the typical ICO project and time will show if the bigger players wait untill the last minute to simply gain the biggest amount of tokens possible, since all unsold tokens are distributed to all participants proportionally. If choosing between having no token to trade within a one year period aproximately and having an asset to be redeemed 1:1 to the master token from the day the threshold is reached, it has been the conclusion that most would prefer something tangible. Failure woud be if Apptrade will not happen as a platform could perhaps be argued, but that is not really an issue as it will happen one way or the other, it is just tried first to be done via crowdsale making it possible for the normal people to enjoy.

Quote from: lil_jay890 on April 17, 2017, 02:42:57 am
It appears that the apptrade crowdsale is going to fall short of the minimum $1million dollar investment requirement.   It's currently only at $150,000 and that includes a $100,000 investment from OpenLedger.

I believe this will be the first failure of a crowdsale that is sponsored by OpenLedger...  Will apptrade attempt to come back to the market with a much smaller (and more realistic) valuation?  Will it attempt to bolster more support from other outlets?  I did a quick check of bitcointalk and searched apptrade, and the latest response was 6 days ago.  Somewhat concerning considering this ICO ends in under 2 weeks and the target is still well short.

Personally I think the extended holding period before token trade-ability is a turn off... Crypto investors love buying early and dumping into the first pump.  Also, I don't get the apx.warrant thing.  Why not just drop the actual tokens immediately?  I doubt any of the centralized exchanges are going incorporate trading of the warrants, which means they are stuck on the BTS platform.

If the ICO fails and Apptrade still moves forward with some other sort of funding, will Obits still be allotted equity in apptrade?

So the crowdfunding failed... can you provide an answer to the question above? @ccedk_pro

35
General Discussion / Re: BlockPay in Serious Trouble
« on: May 04, 2017, 03:07:25 pm »
Wasn't BlockPay and Stealth one of the main reasons people have gotten all bulled up about BTS?

It's also very troubling to see how disconnected the "main" players for blockpay seem to be from each other...  Isn't this a business?  Shouldn't everyone be keeping in constant contact with each other?  It seems like they havn't met or talked in weeks.  Ken says he tried to contact Chris via SMS, email, and telegram... Why not try a telephone!

36
General Discussion / BlockPay in Serious Trouble
« on: May 04, 2017, 01:02:46 pm »
This is copied from a Steemit post on kencodes blog... Probably the reason behind the torching of BlockPay's market cap today.

"
@Chris4210 where are you?
Today, my claws come out. I invested my entire life savings into those BLOCKPAY tokens because you promised us that we would get to “share in the rewards from BlockPay transactions as well as value increases from products built by the Company”.
My life savings: http://cryptofresh.com/u/kencode
Your promise: http://cryptofresh.com/a/BLOCKPAY
(more promises found on reddit, facebook, twitter, linkedin and more)

The past couple weeks, Development has come to a crawl Chris, this is very damaging as my Developers and I have no idea where the money is. I heard you were starting another company with xeroc and some shark named constantin. Is that true? I even got word that you had my company formally Appraised? Is that true?

I have still not been paid my salary, my bills are past due now, my babies are hungry and you know I sure as hell can’t afford a lawyer to track you down. Barely 2 weeks ago you emailed me and said “Current reserves are around 540 BTC + 25k Euro on Bank account”. Really?

If that is true, then where is all that money?! I see you have been recently taking out hundreds of thousands of dollars, where did all that money go?!
https://blockchain.info/address/37jDFfS9WJEPL33YivJbnjfQQNU5RjFWFY

How the hell are we going to be able to continue launching crypto products with no money Chris? A Bitshares Worker Proposal? Your investors never agreed to that!

You agreed (multiple ways) that you would stop trying to take charge of my Developers and Rodrigo’s marketing team too. I guess you fail to remember him yelling at you and hanging up on you?? Even emailing you and telling you to stop it. Obviously that contract has also been breached. My Developers said that you contacted them and stated that you are in charge now and I am leaving my own company? Is that true?!

You agreed (in person with your lawyer/father, and via email) that if more than $2000 was to be expensed that you would get my permission first! Where is the money?!

Your investors deserve to know what I am building, every single week, at a minimum. People love it when I post my weekly technical reports and I will not stop writing them and posting them online to show off what we’re building (including links to our github commits). Apparently, because of this, a couple weeks ago your excuse was “you leave us with no choice but to stop all sales and marketing activities immediately” as if my reports were somehow damaging my own company. You’re kidding, right? If you quit, then why did you start flying around the world on a “BlockPay World Tour”? 1,095 Bitcoins wasn’t enough for you? Now I find out that you are hiding out somewhere in China with your girlfriend. WTF?!
Our commits: https://github.com/kenCode-de?tab=repositories
1,095 Bitcoins: https://blockpay.ch/newsroom/investor-relations/blockpay-reserves/

There are currently 762 of us who have trusted you!!!! I’ll be damned if you’re going to steal all of the STEALTH tokens I bought for my company too.
Holders: http://cryptofresh.com/a/BLOCKPAY
STEALTH tokens: http://cryptofresh.com/u/bitshares-munich

Attempts to contact you and settle this matter by email, SMS and Telegram have failed. Hopefully this steemit post reaches you. You have left me no choice but to contact the Authorities.

Chris, I was building crypto products before I even met you and refuse to let you destroy my company like this. I gave you 49% of BitShares Munich so that you would pay the bills, and get out there and start marketing the products that I built and continue to build (well, not as of late, obviously).

Going public with this is the right thing to do, as transparency is required Chris! Of course this may damage the value of our BLOCKPAY tokens for a bit, but you have left me no choice. As you are well aware, I have always fought for my rights and I will do so once again. As an activist, I assure you I will not stop until you honor the contracts you have made with us, let us see your accounting, pay all of our invoices, answer my questions above, and settle this with me immediately. Since you Follow my blog here on steemit.com, we all know you have been notified. Just as before, I will also send you this notice via email, SMS and Telegram.

More posts to come. Stay tuned, this may get bumpy."

37
General Discussion / Re: Dan's Next Project - EOS Rears its Head
« on: May 03, 2017, 04:00:48 pm »
And here it is.... The annual "New, Amazing, Awesome!" project from CNX/Dan.  So how much investor/lemming cash will be eviscerated in this endeavor?

This is sure to get the Larimer lemmings to jizz in their pants... They love nothing more than to throw money at Dan.

Sharedrop... LOL!

38
General Discussion / Re: Each witness is getting paid $1200+ because of the price rise.
« on: April 26, 2017, 03:08:53 am »
Quote from: intelliguy on April 26, 2017, 01:26:54 am
Quote from: JonnyBitcoin on April 20, 2017, 09:23:43 pm
Each witness is getting paid $1200+ because of the price rise.

They used to get 1.5 bts per block  but this was doubled this year because the bitshares price was so low.

Now the bitshares price has nearly tripled so has the witnesses pay and every witness is receiving $1200+ worth of BTS every month!

A long term fix would be if an agreed $ payment could be paid to them in BTS each month. But that idea deserves its own post.

I see absolutely no problem with this in the short term.

Being a witness, and hanging on when times are troublesome should be awarded a little extra when times get better.

I'm not a witness, but if I was one, that's exactly what I'd expect.

Let them profit a little heavy for awhile... they've waited a while to have their cake. Let them munch on it for a bit.

The issue with this though, is that the witness pay per block was just raised because of the low price...

39
General Discussion / Re: What is refund400k worker?
« on: April 25, 2017, 07:46:48 pm »
Quote from: roelandp on April 25, 2017, 07:17:47 pm
Hi @Thom I was wondering about that earlier also and found this about it:

refund400k is a "Pseudo worker":

[quote url=http://docs.bitshares.org/bitshares/user/worker.html#burn-worker]
Refund Worker
This worker is used to set an approval limit for worker proposals and their payment by simply refunding his payment/salary to the reserve pool. If its amount of daily pay is as large as the daily available funds, and the worker has highest approval among all worker proposals, all funds will be returned to the reserves and no one will be payed. If, however, an other worker proposal has more votes than the refund worker, the proposal gets paid its salary, and the rest is return.

I think in this case it is even a 'burn worker' where the salary gets burned, as I can conclude from this topic: https://bitsharestalk.org/index.php/topic,20710.msg267263.html#msg267263
[/quote]

I believe this worker sends the remaining unspent funds/day back to the reserve pool... It does not burn, but there is a burn worker that has been voted in every once in a while.

40
General Discussion / Re: Bitshares shorting is flawed and needs to be fixed ASAP
« on: April 20, 2017, 03:53:18 pm »
Quote from: yvv on April 20, 2017, 02:35:19 pm
Quote from: Thom on April 20, 2017, 01:24:24 am

The leverage you like so much is merely an illusion of safety made attractive by potential profits. That safety will evaporate faster than a bot can place an order when the inevitable collapse begins.

You didn't even understand what am I talking about.  Yes, I like leverage, because this is what gives motivation to short assets instead of just holding them. And since MPA are created through shorting, no shorting means no liquidity. Let's forget about it for a moment. Suppose we are fine with 1:1 leverage, then BTS shorting is still screwed. You still need to put unnecessary high amount funds when you open and close position. How does this make BTS more safe than polonoiex? I say, it does not. In fact, it hurts BTS a lot.

Yvv is correct that the way the current system is designed, it is cumbersome and confusing to short and trade... pair that with the lack of order types (Take profit, stop loss) and you have something that isn't appealing or similar to what traders currently use.

The question is, as Xeroc eluded too, should BTS change it's risk profile to add leverage and cater to traders? personally I think 3rd parties should be the ones offering leverage and then use the DEX as a way to manage their risk.  The way poloniex and most exchanges operate is that they make you have a minimum margin when using leverage, if the value of your position falls below the minimum margin your position is automatically closed.  In order for this to work, ample liquidity and deep order books are mandatory.  MF-Tzo referenced when the SNB depegged the swiss frank from the euro... Liquidity evaporated and there was a 20% move in the currency.  This caused many FX traders to go under as well as some exchanges (FXCM had to be bought out).  This is not a position that the DEX should ever be put in, and even if it was decided that BTS should be like FXCM or poloniex, I'm going to guess some drastic changes would need to be made to the code. 

Truth be told... most brokers that offer 50:1 or more leverage are gambling houses.  The big bank traders don't come close to that leverage (if they use any at all), and usually their orders are passed directly to the interbank market.  The 50:1 brokers typically use a dealing desk and take the opposite side of their clients trades.  They will sometimes pass the orders to the interbank market to help manage their risks, but this is typically only done for large orders.

41
General Discussion / Re: Bitshares price discussion
« on: April 20, 2017, 03:30:46 pm »
Quote from: nomoreheroes7 on April 20, 2017, 02:38:16 pm
Quote from: xeroc on April 20, 2017, 02:14:39 pm

No one got a comment on that?

If I didn't know any better........I'd say the price is going up.

 :D

Now is this money just part of the Alt-Coin bubble that is happening right now, or will these funds actually move to the DEX and start buy smartcoins and UIAs???

42
Technical Support / Re: PLEASE HELP TO RESTORE BITSHARES!
« on: April 19, 2017, 11:35:10 am »
Quote from: Holycrapman on April 19, 2017, 05:31:04 am
Hmmm...Intelliguy...
Aren't you all that and a bag of chips.
AKA...Intelliprick.
 
Mmmisha may not have chosen the most prolific subject line, but with JackWads like you...
Bitshares is doomed to fail. Bitshares is awesome...but let me repeat...
With JackWads like you...Bitshares is doomed to fail.
 
We're a headlines based society...yep...coin-scammers gain market share...
TOP TEN ALT COINS...THREE MONTHS OLD...Kicking Bitshares Hein'eken

And Bitshares Intelliguy..."Master of All"
Posts this crap...shame on you...
 
Be the change you want to see in this world...Intelliguy.

You seem like someone that cares...but is pissed off about something?
If it's money, well, I'd chose a new moniker then "intelliguy".
Money doesn't make you intelligent.

I don't follow you, and with you're attitude, I see no reason to be associated with someone like you.
I've owned Bitshares since 2014 and have never posted...until today. And I've never sold one BTS. But because of you, I'm getting ready to slam it!
Move on Intelli&^%$#@.

Mmmisha...if there's anything I can help you with, please let me know...
I will honor your request, or get you in contact with someone that can assist, keep the faith!
HCM

A guy who is pointing out that a forum thread headline is somewhat misleading, which he is correct about, has triggered you so bad that you are going to quit this forum and bitshares all together?? Seriously, this is how you make investment decisions? This is what finally got you so riled up that after 3 years of being a wall flower you had to come out spewing venom?

43
Openledger / Re: ANN Apptrade Master Token Crowdsale NOW LIVE
« on: April 18, 2017, 03:18:46 pm »
Quote from: ccedk_pro on April 18, 2017, 12:20:18 pm
The final outcome of the ITO and how we will proceed, you will really know only when the ITO ends. Apptrade is not the typical ICO project and time will show if the bigger players wait untill the last minute to simply gain the biggest amount of tokens possible, since all unsold tokens are distributed to all participants proportionally. If choosing between having no token to trade within a one year period aproximately and having an asset to be redeemed 1:1 to the master token from the day the threshold is reached, it has been the conclusion that most would prefer something tangible. Failure woud be if Apptrade will not happen as a platform could perhaps be argued, but that is not really an issue as it will happen one way or the other, it is just tried first to be done via crowdsale making it possible for the normal people to enjoy.

Quote from: lil_jay890 on April 17, 2017, 02:42:57 am
It appears that the apptrade crowdsale is going to fall short of the minimum $1million dollar investment requirement.   It's currently only at $150,000 and that includes a $100,000 investment from OpenLedger.

I believe this will be the first failure of a crowdsale that is sponsored by OpenLedger...  Will apptrade attempt to come back to the market with a much smaller (and more realistic) valuation?  Will it attempt to bolster more support from other outlets?  I did a quick check of bitcointalk and searched apptrade, and the latest response was 6 days ago.  Somewhat concerning considering this ICO ends in under 2 weeks and the target is still well short.

Personally I think the extended holding period before token trade-ability is a turn off... Crypto investors love buying early and dumping into the first pump.  Also, I don't get the apx.warrant thing.  Why not just drop the actual tokens immediately?  I doubt any of the centralized exchanges are going incorporate trading of the warrants, which means they are stuck on the BTS platform.

If the ICO fails and Apptrade still moves forward with some other sort of funding, will Obits still be allotted equity in apptrade?

44
Openledger / Re: ANN Apptrade Master Token Crowdsale NOW LIVE
« on: April 17, 2017, 02:42:57 am »
It appears that the apptrade crowdsale is going to fall short of the minimum $1million dollar investment requirement.   It's currently only at $150,000 and that includes a $100,000 investment from OpenLedger.

I believe this will be the first failure of a crowdsale that is sponsored by OpenLedger...  Will apptrade attempt to come back to the market with a much smaller (and more realistic) valuation?  Will it attempt to bolster more support from other outlets?  I did a quick check of bitcointalk and searched apptrade, and the latest response was 6 days ago.  Somewhat concerning considering this ICO ends in under 2 weeks and the target is still well short.

Personally I think the extended holding period before token trade-ability is a turn off... Crypto investors love buying early and dumping into the first pump.  Also, I don't get the apx.warrant thing.  Why not just drop the actual tokens immediately?  I doubt any of the centralized exchanges are going incorporate trading of the warrants, which means they are stuck on the BTS platform.

45
General Discussion / Re: Steem dollar is more liquid than BitUSD. We should copy it's key feature.
« on: April 12, 2017, 02:39:29 pm »
Quote from: yvv on April 12, 2017, 02:08:59 pm
Quote from: lil_jay890 on April 12, 2017, 01:54:49 pm
Quote from: yvv on April 12, 2017, 01:17:30 pm
Quote from: lil_jay890 on April 12, 2017, 12:56:07 pm
Quote from: logart on April 12, 2017, 05:34:19 am
If any DEV seeing this, please we need this feature, If we want mass adoption in our DEX we need to have enough liquidity for all stable fiat assets, we will never see mass adoption if we rely only on users to create BITusd or BitCNY .

In fact, I'm proposing that the BTS blockchain automatically creates and pays an equal or fixed amount of value diversified in all Bit-assets. Not just in BitUSD. That way there will be liquidity distributed among all the Bit-assets too, we want liquidity in BitGold, BitSilver, BitEUR, BitUSD, bitCNY, Bitbtc. Witnesses and workers should like the idea too because they are incentivized in diversified assets and they know that diversification is the best and recommended way to store the value of money. And if in the future the more bit-assets are added to DEX like BitCHF or BitMXN,  etc the more diversification they will get

Bitshares is really appealing for traders but traders search two main things when choosing a broker liquidity and leverage. Leverage is also important for traders in Forex because Forex currencies only move less than a cent sometimes so there's logically the need of leverage to make a profit. 100-500X leverage is needed in forex. 3-10X is only needed in cryptos because they are far more volatile.

While I agree that in order to attract traders, you need to offer leverage, I don't believe this should be offered "on chain".

In the current forex market, it's the brokers that are offering the traders leverage.  Leverage is actually a tool that they exploit to make money since they know 90% of traders who use high leverage end up blowing up their accounts. The brokers  that allow 100x leverage don't pass the clients orders to the actual market, they take the opposite side of the trade and pocket any spreads or commissions as well as all the clients cash when they blow up from over leveraging.  It's a business plan that has worked for decades.

Bitshares is not designed to act as a broker and offer leverage. Not only are the mechanics to process the leveraged trade not present, but the risk management protocol would also need to be developed. All brokers have the possibility of blowing up in extreme market conditions, and I don't believe bts should be taking those risks. Bitshares needs to continue to act as an exchange like the nasdaq, and hopefully start making money off of fees.  Let third parties come in and offer leverage off chain.

Check out bitAssets dude, they do offer you leverage right "on chain", with no broker. Yes, short position with 1.75 collateral gives you 1.33x leverage, do your math. This 1.33x can be easily increased to at least what poloniex offers by bringing MCR down to 1.4.

Sorry dude.  I was addressing the post that mentioned 100-300 times leverage and that bts is not designed to offer that. And it shouldn't be adapted to try to compete with those brokers.

You are right though, bts does offer limited leverage

There are no inherent obstacles in bts which prevent to offer 100-300x leverage. Markets are just too shallow for this at the moment.
 

To do that though, wouldn't the committee need to drop the MCR and sqpr well below 1? That greatly​ increases the risk to the bitasset holder. It basically puts the bitasset holder in the position of the broker.

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