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Messages - lil_jay890

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61
General Discussion / Re: Bitshares price discussion
« on: March 20, 2017, 08:51:10 pm »
Finally BTS is joining the Alt coin pumps... $0.070 has been resistance for the last year.  If it can clear and hold above that, there is a good chance the bear market is over.

I am skeptical since BTS isn't really outperforming many currencies.  Dash and ETH are getting hundreds of millions of dollars pumped into them, while BTS is only up 7 mil.  Once the alt coin pump is over, how well BTS holds up will show if the bear market is done.  If bts breaks $0.070 but fail to hold above for more than a few days, BTS will probably test the lows again.

62
General Discussion / Re: Bitshares price discussion
« on: March 10, 2017, 06:51:39 pm »
Quote from: Chronos on March 09, 2017, 06:48:47 pm
It's remarkable how stable BTS is to the USD, instead of tracking bitcoin's price, which most cryptos follow instead. Any thoughts on that?

I don't know if it really that odd, most coins are not moving vs the USD.  This just shows that fiat is flowing into bitcoin and not moving to any alts other than ethereum and Dash.

There have been some coins massively under performing though... Steem being one of them.  Worst performance of any coin over the last week.  What a round trip this coin made over the last year.  All those people that bought this coin after 5 dbags did a video review of it with Dan and Ned have been totally wrecked.

63
General Discussion / Re: So, whichpeople who worked on bitshares projects ended up NOT being scammers?
« on: March 08, 2017, 06:21:17 pm »
Quote from: Permie on March 08, 2017, 05:48:18 pm
Quote from: Stan on March 07, 2017, 06:34:52 pm
Quote from: renkcub on March 06, 2017, 04:32:43 pm
Can't say I'm surprised by any of this. Called it in 2014 and avoided BTS. Too bad I didn't ride the pump with my Protoshares, though, or get on board with Steem. Dan is a good coder but never gave me a satisfactory answer to this basic concern (true across many areas of crypto).

HOWEVER, I'm starting to see some value here and might FINALLY jump in (decentralized apps like OL).

Quote from: renkcub on July 03, 2014, 04:22:19 pm
.....
However, I have a simple, but important concern I was not able to resolve with a few searches around the forum.

I've seen it happen dozens or even hundreds of times now in the bitcoin ecosystem (just look at Bitfunder, or any asset exchange) - most of the "listings" turn out to be scams or fraudulently run. All BTC are somehow lost or founder disappears.

I've seen some GDoc attempts at accounting for PTS expenditures, but what really is to prevent a "DAC" founder from pulling an Enron or running with the AGS funding?
....

Really?  The whole team working on sweat equity and their own funds for over a year after the donations ran out to produce and deliver rock stable Graphene and BitShares 2.0 to the community for free didn't satisfy you?
+5%

I've been away for ages but since coming back I'm seeing a bit of animosity about Dan moving to work on Steemit.
I'm not looking to come in here and offend anyone, I only want to understand. :)
Everyone seems a little dejected

Bts and steem are two sides of the same coin. They can work symbiotically.
The market for censorship-free social media is about to grow massively.
Twitter, facebook and reddit are all getting caught with their hands dirty, acting against the interests of it's users in order to direct a narrative. Could BitShares have replaced a social media system?
I doubt it, which is why I assume Steemit was created.
BitShares is a financial exchange. There is PLENTY of money in that game already.

IMO, Dan and Cryptonomex built BitShares as a somewhat complete product. It's up to the users, shareholders and businesses of BitShares to use it.

Unless I am mistaken, BitShares became a stand-alone entity directed by it's shareholders on launch. What are people expecting Dan to have done since?
What am I missing?

It's good to be back seeing the progress BitShares is making :)

Stan pumped in a video that people "would be sorry" that they didn't buy bitshares when it was under a cent, meanwhile his son and company were dumping bitshares.  Dan got on a mumble in early 2016 and spouted off about how his new years resolution was to be a better leader for bitshares.  He quit the system 4 months later.

Dan and Stan also tried to pump BTS by saying it was a sharedrop target and anyone using the tech should sharedrop on the community.  They went and create steem using bitshares tech and abandoned the sharedrop idea... I guess sharedrops should only be done if it is benefiting Dan and Stan..

Not to mention all of Stan's "business" development projects... None of these ever worked out but were used to pump the price while him and Dan dumped.  Most were just cryptic bullshit forum posts that gave most of the larimer lemmings hard ons. 

There is animosity toward Dan and Stan because they abuse shareholders... they have done it since the merger and I'm sure they will attempt to do it again.  It's usually around this time of year that they announce there next shareholder screwing idea.

64
General Discussion / Re: So, whichpeople who worked on bitshares projects ended up NOT being scammers?
« on: March 03, 2017, 06:48:05 pm »
Quote from: yvv on March 03, 2017, 06:44:56 pm
Quote from: lil_jay890 on March 03, 2017, 06:05:58 pm
Quote from: yvv on March 03, 2017, 04:52:08 pm
Quote from: lil_jay890 on March 03, 2017, 04:33:28 pm


Still by that logic it means that if I wanted to set Xeroc as my proxy I should follow all worker proposals, then see what Xeroc is voting for, then decide whether or not I should still have Xeroc as my proxy.  Why wouldn't I just vote for everything on my own instead of setting a proxy?  The whole point of a proxy is so that the shareholder isn't burdened with checking worker proposals constantly, and I'm sure many of the shareholders who have proxies set are not constantly checking what their proxy is doing.


Of course you need to follow what your proxy is doing, not every day, but at least once in a while. This is similar to electing a congressman, you need to follow the news in media to make sure that your delegate is doing what you expect him to do, and if he does not, you change your vote during next election. This way you don't need to make a vote on every single political issue every day. The difference between bitshares and real world political system is that in bitshares, if you think that it is easier for you to make every single vote on your own, hey, you are welcomed to do so.

Once again these are all things that people "should" be doing.  Just because someone "should" do something, doesn't mean they will do it.  People "should" take there bts off the exchanges, yet they don't.  So far we have seen the system centralize into 4 proxies (3 of which are chinese, and I believe controlled by the same person), so it's centralized between 2 parties.  Relying on what people "should" do is a mistake.  People are going to do what's easiest, not whats best.

What people "should" do is up to each person himself to decide. If community chose to trust to 4 proxies, this means that there are no more trustworthy members other than these 4. If you don't like how they vote, sorry dude, you are outvoted, this is how voting with stake works. If you don't like it, make your party, get your stake and change it.

I have already voted, like many other people have, with my feet by dumping my bitshares.  This community is so weird, no one ever wants to hear the reasons why bitshares has plummeted in price and popularity.  People just want this to be an echo chamber on how great and cool things are.

The whole "deal with it, that's the way it was design and if you don't like it leave" argument is dumb.  People have dealt with it and left.

65
General Discussion / Re: So, whichpeople who worked on bitshares projects ended up NOT being scammers?
« on: March 03, 2017, 06:05:58 pm »
Quote from: yvv on March 03, 2017, 04:52:08 pm
Quote from: lil_jay890 on March 03, 2017, 04:33:28 pm


Still by that logic it means that if I wanted to set Xeroc as my proxy I should follow all worker proposals, then see what Xeroc is voting for, then decide whether or not I should still have Xeroc as my proxy.  Why wouldn't I just vote for everything on my own instead of setting a proxy?  The whole point of a proxy is so that the shareholder isn't burdened with checking worker proposals constantly, and I'm sure many of the shareholders who have proxies set are not constantly checking what their proxy is doing.


Of course you need to follow what your proxy is doing, not every day, but at least once in a while. This is similar to electing a congressman, you need to follow the news in media to make sure that your delegate is doing what you expect him to do, and if he does not, you change your vote during next election. This way you don't need to make a vote on every single political issue every day. The difference between bitshares and real world political system is that in bitshares, if you think that it is easier for you to make every single vote on your own, hey, you are welcomed to do so.

Once again these are all things that people "should" be doing.  Just because someone "should" do something, doesn't mean they will do it.  People "should" take there bts off the exchanges, yet they don't.  So far we have seen the system centralize into 4 proxies (3 of which are chinese, and I believe controlled by the same person), so it's centralized between 2 parties.  Relying on what people "should" do is a mistake.  People are going to do what's easiest, not whats best.

These 2 parties have massive influence over bts currently.  Comparing this to a congressman is misleading... congressman have little power in their own right.  One rogue congressman isn't going to destroy the US goverment.  In fact even if the president doesn't have ultimate authority.  The power that the proxy system allows to be concentrated is ludicrous and dangerous.

66
General Discussion / Re: So, whichpeople who worked on bitshares projects ended up NOT being scammers?
« on: March 03, 2017, 04:33:28 pm »
Quote from: chryspano on March 03, 2017, 03:47:31 pm
Quote from: lil_jay890 on March 03, 2017, 03:27:06 pm
Whats the point of them setting you as a proxy and still having to follow along with day to day operations to see your disclaimer that you will be voting in your own worker?

Having to follow one person you trust is much easier than having to follow everyone and everything. How can someone vote for anything or anyone if he is completly clueless?

Quote from: lil_jay890 on March 03, 2017, 03:27:06 pm
Bottom line is 4 people control the system now, and if the exchanges wanted to, they could control everything.
imo they don't control but they run the system and the stakeholders can remove the support at any time. Exchanges are only good at getting hacked anything else pays too little.

Still by that logic it means that if I wanted to set Xeroc as my proxy I should follow all worker proposals, then see what Xeroc is voting for, then decide whether or not I should still have Xeroc as my proxy.  Why wouldn't I just vote for everything on my own instead of setting a proxy?  The whole point of a proxy is so that the shareholder isn't burdened with checking worker proposals constantly, and I'm sure many of the shareholders who have proxies set are not constantly checking what their proxy is doing.

Also, run and control are analogous terms.  And your point of exchanges are only good at being hacked proves my point about the risk they pose.  Even if the exchanges never have any intent of taking control and damaging bitshares, a hacker could "easily" hack the exchange and take control of the BTS and destroy the system.

I know most people here sweep this risks under the rug, but it's why bts isn't gaining new investors.

67
General Discussion / Re: Bitshares price discussion
« on: March 03, 2017, 03:37:09 pm »
Quote from: chryspano on March 03, 2017, 03:28:15 pm
Could the drop in BTS price be seen as a prediction that the BTC EFT will not get aproved? If this happens btc price could tank really REALLY hard imo and with it BTS and most alts go down. Someone could sell now at 9-10 millions marketcap in hope that he can buy back hopefully at 5 or even lower IF btc crashes AND IF bts follows this crash.

If that was the case, I would expect the majority of alt coins declining.  Many have rallied instead.  Both BTS and Steem have been underperforming, I'm guessing the price drops are related.

68
General Discussion / Re: So, whichpeople who worked on bitshares projects ended up NOT being scammers?
« on: March 03, 2017, 03:27:06 pm »
Quote from: xeroc on March 03, 2017, 02:52:11 pm
Quote from: lil_jay890 on March 03, 2017, 02:43:35 pm
Bitshares may not be a scam, but its a great platform for extracting value from shareholders.  4 proxies having the ability to control the entire system is insane.  Especially when the proxies can vote in their own workers at whatever pay they want.  Centralization.
You do realize that this is personally offensive? Have I not taken sufficient measures to balance the conflicting interest as worker and proxy? Do you at all realize how my worker is setup?
Also, by blaming the proxies, you are essentially blaming the shareholders that handed over their voting power to them. It's their freedom to do so and I they disagree with what I do/did, then they should remove their vote (which is what I asked them to do prior to voting for my own worker, btw).

I get that you are offended, but this isn't an attack on you.  I think you are an honest person who wants to see bitshares grow.  It's to point out how centralized the system is.  It's a basic design that is a huge flaw.  It allows the exchanges at anytime to take over and control the whole system.

It's a good thing that you informed your voters about this, but it still is a massive conflict of interest.  Voters set you as a proxy so that they don't have to follow every detail.  Whats the point of them setting you as a proxy and still having to follow along with day to day operations to see your disclaimer that you will be voting in your own worker?

Bottom line is 4 people control the system now, and if the exchanges wanted to, they could control everything.

69
General Discussion / Re: So, whichpeople who worked on bitshares projects ended up NOT being scammers?
« on: March 03, 2017, 02:43:35 pm »
Quote from: alt on March 03, 2017, 10:29:24 am
I don't care how many scammers here,
I know Bitshares is not a scammer, that's enough.

Bitshares may not be a scam, but its a great platform for extracting value from shareholders.  4 proxies having the ability to control the entire system is insane.  Especially when the proxies can vote in their own workers at whatever pay they want.  Centralization.

70
General Discussion / Re: Bitshares price just flash crashed down to 0.00000169 on poloniex
« on: March 01, 2017, 10:49:02 pm »
Quote from: ferter on March 01, 2017, 10:17:55 pm
Oh my God!!

"But the Fundamentals and activity!!"

Plus BTS just got the "great" news that Apptrade is going to try to raise 5 million dollars in bitcoin... then they are going to issue a whole bunch of apptrade coins out of thin air and rely on the the already thin bitshares network to support the price of these coins.  We have seen time and time again how these giant ICO's crush the price of BTS because of the desire by the ICO buyers to dump and get out. 

The cycle is all the same... Raise money in bitcoin >>> Distribute Worthless UIA to investors >>> Investors Dump UIA for BTS >>> Investors Dump BTS for BTC.  These ICO's are not bringing in near the amount of liquidity that they are sucking out... Until people are forced to buy into these BTS based ICO's with actual bitshares instead of fiat or bitcoin, the dumpage will continue.

71
Openledger / Re: ANN Apptrade Master Token Crowdsale NOW LIVE
« on: March 01, 2017, 06:57:44 pm »
Color me skeptical about this program for the following reasons:

-Buying and apptrade portfolio doesn't give you any equity in any of the "apps".  These apps are just suppose to contribute part of their profits to some pool of funds.  The big problem with this is that almost all app's make no profit.  Even huge apps like snapchat and uber operate at a loss.  They are not paying a dividend.  Buying an apptrade portfolio basically is like trying to buy a dividend stock that doesn't make any money... Unprofitable companies either suspend their divedends or go bankrupt.  Growing companies shouldn't be distributing a dividend at all.

-Who are these people that are selecting the portfolios?  This area is only briefly touched on and apptrade says they will use some "metrics" to evaluate apps...  How do you evaluate an app that is still an embryo?  What are these "metrics"?  Whats to stop these portfolio czars from taking kick backs from less than promising companies to get listed in the same portfolio as a more promising company?  Is there going to be some sort of rating system for these portfolios?  Will these selectors be fired if they pick sub-par portfolios?

-It's all fine and good that apptrade plans on using the bts blockchain, but this is just another ICO that is going to strain the already thin BTS liquidity.  They plan on raising up to 5 million dollars...  when a bunch of investors cash out after a year of holding, that is going to put immense strain on the blockchain.  Taking a whole bunch of bitcoin and then exchanging it for a token that can only be sold on the BTS blockchain has been crushing the BTS token price for the last year.  Apptrade says that investors can move to bitUSD, but those markets are super thin as well.  I'm betting most investors won't want to stay in the BTS ecosystem once the year holding period is up.  They will dump apptrade for BTS and then dump the BTS for bitcoin... and continue the cycle constant sell pressure on the BTS token.

72
General Discussion / Re: Bitshares price just flash crashed down to 0.00000169 on poloniex
« on: February 28, 2017, 03:33:38 pm »
And it was done on huge volume (relatively speaking since BTS exchange volume has been in constant downtrend... along with it's price).

How long until we hear "These people are crazy to sell here!"?  The same 7 words spoken everytime BTS has made new lows for the last 3 years.

Oh and BTW... flash crash lows are usually retested in the months following.  Odds are that we have a slow painful bleed for the next several months... 5 million here we come. 

Raising the block rewards and hiring all these workers couldn't have come at a worst time.  Since when did giving employees raises in a struggling business become a good idea?  I guess that's what happens when a few proxies can decide how to spend other peoples money. One word... Centralization.

73
General Discussion / Re: Bitshares price discussion
« on: February 23, 2017, 04:07:20 pm »
Quote from: mr-whitekey on February 23, 2017, 03:31:46 pm
You made some nondescript and vague reference to something coming "this summer" last May. It was not much and when I finally read the thread ppl kept referencing, I was puzzled at why they made a big deal out of it.

Seem like people project their hopes on to your words.

Sent from my XT1254 using Tapatalk

Stan has been trying to pump bitshares for the last 2 summers with these so called "announcements".  Last year he was pumping via these "announcements" and video interviews while the rest of the core team like Dan were dumping their shares... borderline illegal, but no one cares enough to seek legal action... yet.

74
General Discussion / Re: Bitshares price discussion
« on: February 22, 2017, 04:40:30 pm »
Quote from: EstefanTT on February 22, 2017, 01:21:10 pm
Quote from: lil_jay890 on February 22, 2017, 12:51:42 pm
Despite all the "great" fundamentals and news, this sucker continues to crash to all time lows vs BTC and is about to break the little support it has against the dollar.  Even a slight correction in BTC is going to cause bts to plunge. 5 mill market cap here we come...

But I'm not worried because I have been assured by bts bagholders that people would be "crazy" to sell at these prices... I wonder if they will still be considered crazy when they are still selling at 5 million?
I don't understand why you keep posting such pessimistic mesages.
Just sell you BTS if you are that convinced that it will plunge to 5M$ MC, no need to spread your lack of faith in this beautiful project.
Keeping a currency you think will go down in value is absurd.

Sent from my SM-G935F using Tapatalk
Why??? Because its a "bitshares price discussion" thread... You know there are ways to bet against BTS. So I think posting why BTS is crashing and why it will continue to crash is applicable to this thread.  Just because I post in this thread doesn't mean I own any BTS, and that goes for many posters on this forum.

Oh I get it... We should only be allowed to post optimistic messages and talk about all the great things that are going on.  Maybe we should just ignore that the market is telling you that this coins growth prospects are dim at best.  I don't even have to point out that there still hasn't been one business built on bitshares (unless you include all the ICO's that suck liquidity and credibility from the system).  But hey, summer is coming up, maybe this is the year that maybe one of Stans "projects" will actually happen... not holding my breath though.

Maybe we should rename this thread to "Tell me why bitshares is going to the moon and how rich i'm going to be and how I'm a visionary that saw how great this thing was going to be before anybody else".

75
General Discussion / Re: Bitshares price discussion
« on: February 22, 2017, 12:51:42 pm »
Despite all the "great" fundamentals and news, this sucker continues to crash to all time lows vs BTC and is about to break the little support it has against the dollar.  Even a slight correction in BTC is going to cause bts to plunge. 5 mill market cap here we come...

But I'm not worried because I have been assured by bts bagholders that people would be "crazy" to sell at these prices... I wonder if they will still be considered crazy when they are still selling at 5 million?

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