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Can someone please ELI5 Dan/STEEM/BTS for me?
I noticed STEEM going parabolic on CMC today, thought I'd check out the latest epic pump'n'dump and found Dan at the bottom of the rabbit hole. Not something I expected.
Then I hit Bitsharestalk and find a whole lot of pissed off folks with a pretty consistent sentiment that Dan has absconded with knowledge/experience/ideas funded by the PTS/AGS investors (of which I am one) and is using them to enrich a small, centralized cadre of "Steemit"(?) developers/investors via a heavily pre-mined coin apparently designed to game CMC. Also not something I expected.
Finally, it appears that although Steemit would not exist without Bitshares technology/codebase and substantial contributions from Bitshares lead developer (Bytemaster), there is currently no clear roadmap for a share drop on the PTS/AGS/BTSX/BTS folks. Definitely not expected!
I'm currently trying to maintain an open mind, as I continue to believe in Dan's vision and talent, but from where I'm standing this situation is pretty much ass end opposite of everything Bitshares stands for.
Help an old guy out, thank you!
Hi. I'd like to understand why Steem is not observing the Protoshares social contact, where PTS and AGS holders were promised a % in all future Invictus derived DACs. I'm confused to see Dan Larimer as a founding member of Steem without honoring this promise that he was the main promoter of, which convinced me to back the project at that time. I'm trying understand the logic as to why the social contact wasn't honored - or are there plans to do so?
Thanks for any help
because it's not a contract , and no court room can force them to honor it .
And even if there was a contract ....the company is called Cryptonomex now . Which is not Invicus ....
Smart people right .
Actually, the company is called Steemit. Exactly zero % is owned by Cryptonomex.
CNX, CNI, and CNF are all still completely focused on the BitShares Ecosystem.
The sour grapes here is funny. ByteMaster gave each of you an opportunity to get into Steem early. Now its a few people that are focused on getting work done, Peertracks scams and the test holding their Bitshares bags upset about Steem's success. Thank you anti dillusion crowd for forcing ByteMaster's hand, we owe you big time.
Hi. I'd like to understand why Steem is not observing the Protoshares social contact, where PTS and AGS holders were promised a % in all future Invictus derived DACs. I'm confused to see Dan Larimer as a founding member of Steem without honoring this promise that he was the main promoter of, which convinced me to back the project at that time. I'm trying understand the logic as to why the social contact wasn't honored - or are there plans to do so?
Thanks for any help
Sure seems quiet around here lately .. people going to steemit or interest in bitshares dying down?
Not bad at all...
I actually cant .. to sell his stake he needs to divest over 2 years while PUBLICLY showing that he is divesting over 2 years ..Get Rich Quick Steem
Waves, Lisk, Ethereum, Augur... every half-as-skilled-as-me dev was being thrown boatloads of money at, it was time for Dan to get his. Plain and simple. By owning 90% and selling it off, he can walk away anytime without being beholden to investors like he was with BTS.
FWIW- Dan first proposed most of the things he is doing in Steem here to the Bitshares community. You guys cut off his funding for said proposals- stating they were either unnecessary or declaring that inflation for development/improvements = bad. It is kind of the Bitshares' community's fault he has moved on from Bitshares to Steem. An employee must get paid for his work, or else he will look elsewhere for an employer that will pay him for working. Failure to see that to make a few dollars you have to spend a few dollars is entirely on the Bitshares' community. Short term greed stymied Bitshares and will be its eventual downfall.
No one cut off his funding. Dan never even created a worker proposal. Total bullshit saying that BTS won't pay for any development as there are 2 workers being paid already.
this. don't twist the facts please @CoinHoarder
Not this. Don't abuse your power as a moderator @fav. This is not a random discussion.
steem is an alternative currency and has nothing to do with bitshares. moved as usual
So a discussion of how Steem and BitShares complement/compete with each other in the coming months is not relevant? Most of the posts in this thread seem to me to be more about Bitshares.
A discussion of how Steem and BitShares complement/compete with each other in the coming months is exactly whats needed. Its not a blame thing, hopefully steemit pulls bitshares up and we can employ things that are working over there. I'm not techie enough to understand how steem can benefit bts, thats why i think a discussion would be helpful.
The action on coinmarket cap for steem is deceiving. The supply is increasing, but so far there has been very little trading going on. Because of this it looks like Steems market cap is growing fast (because they are inflating the supply while no one can get out). BM designed steem to show a huge market cap. So far market cap is moving positive, but I doubt it is anywhere near high enough to where Dan expected it to be trading.
Once people start trading out of steem i'm guessing it will be a shit show.
a) We need a hard fork
b) there are some issues with it that make the code messy (iirc)
c) we need someone to properly audit the code
d) there is no money to pay any of the points above .. yet
e) If you think about it .. it may make sense to have a way more powerfull fee structure .. for instance, ideally bitUSD can be transfered for free, while stock shares shouldn't ..
Why should Dan have dropped shares of his new STEEM DAO onto the Chinese BTS holders who would just continue to down vote his development ideas?
Dan is a dev
He can't do deving when there is no money.
He needed a new community that was supportive of dev funding, or he would not be working on anything. This is just common sense.
I for one am glad that he found a community that supports his ideas, and being a cosmopolitan myself, I support many different communities.
BTC, BTS, STEEM, IOTA, WBB, PeerPlays, and all the teams who support these groups. What communities do you support?
Dan did offer every member of this forum a stake in STEEM: an early chance to mine it or begin posting and voting during its alpha and beta phases. I pooh-poohed it originally, but once I took the time to figure out what they had built, I was all in. Since then, I've made thousands of dollars posting and voting on good content. I've re-invested all of those profits into Steem Power, which virtually gives me a big stake in its continued future growth. It's still early over there, and there's plenty of time for you to get your "sharedrop" also. But you don't get it sitting on your ass; you have to work for it. As I understand it, Steemit is just part of the overall vision and BitShares can fulfill an important role in that plan, too.
