Sold all of my Bitshares

[nomoreheroes7]

http://www.reddit.com/r/counterparty_xcp/comments/2y0apx/contract_news/

I hope Vitalik and Daniel keep up their talks, they have such complementary natures.

Yup, still waiting on that merged super-duper-multi-humungous-awesome-earth-shattering EtherShares DAC.

THEN -- moon.

 

[CLains]

http://www.reddit.com/r/counterparty_xcp/comments/2y0apx/contract_news/

I hope Vitalik and Daniel keep up their talks, they have such complementary natures.

[BunkerChainLabs-DataSecurityNode]

http://www.reddit.com/r/counterparty_xcp/comments/2y0apx/contract_news/

Haha..  for BitShares

[xeroc]

I am still investing, just not in bitshares, at least not now.

Yes, these things do take time and I do have patience. I waited over a year. They also cannot move too slowly because innovation happens fast in the tech world. Bitshares is going too slow, has changed direction too many times, and has STILL not figured out the right direction.

Teenage cheese is aged cheese, it is mature, that is the point of name.

What do you think of Ethereum?

http://www.reddit.com/r/counterparty_xcp/comments/2y0apx/contract_news/

[luckybit]

I am still investing, just not in bitshares, at least not now.

Yes, these things do take time and I do have patience. I waited over a year. They also cannot move too slowly because innovation happens fast in the tech world. Bitshares is going too slow, has changed direction too many times, and has STILL not figured out the right direction.

Teenage cheese is aged cheese, it is mature, that is the point of name.

What do you think of Ethereum?

[btswildpig]

There for sure is a balance / trade off between voting/forging participation and decentralization in any POS system.

As you lose decentralization, you diminish the value proposition of the Bitshares network.

That depends on whether or not the network already has too much decentralization.     I would argue the network has significant value even if it is completely centralized in the hands of a single delegate. 


Sent from my iPhone using Tapatalk

What's the value in using a single delegate Bitshares system over something like Ripple or a centralized exchange?

big exchanges of BTS are centralized . like BTC38 .
they hold tons of BTS .

[wasthatawolf]

There for sure is a balance / trade off between voting/forging participation and decentralization in any POS system.

As you lose decentralization, you diminish the value proposition of the Bitshares network.

That depends on whether or not the network already has too much decentralization.     I would argue the network has significant value even if it is completely centralized in the hands of a single delegate. 


Sent from my iPhone using Tapatalk

What's the value in using a single delegate Bitshares system over something like Ripple or a centralized exchange?

[sittingduck]

There for sure is a balance / trade off between voting/forging participation and decentralization in any POS system.

As you lose decentralization, you diminish the value proposition of the Bitshares network.

That depends on whether or not the network already has too much decentralization.     I would argue the network has significant value even if it is completely centralized in the hands of a single delegate. 


Sent from my iPhone using Tapatalk

[wasthatawolf]

There for sure is a balance / trade off between voting/forging participation and decentralization in any POS system.

As you lose decentralization, you diminish the value proposition of the Bitshares network.

[santaclause102]

...
It has become obvious through the recent happenings on these forums that a large bulk of Bitshares in circulation are held by a somewhat small group of investors who have successfully gagged the developers ...

No investor like a coin that is controlled by a small group of people. The fact has to be verified. If this is true, there needs to be transparency on when this control is over.

I believe it actually the opposite and investors love when whales take positions. Look at how stocks react when Icahn or other big hedge funds take a large position.  Most rocket up when the reports come out.  Most investors feel comfort when they follow a whale

All moralizing judgments aside (economics and psychology of envy) having large stakeholders is good for a DPOS system because the higher the stake the more motivated the parties are to vote and the more secure and competitive is the network/blockchain.
So be happy about the few that take the risk and put in the work.

It's the same for (NXT like) POS but there it would additionally be beneficial / necessary if the large stakeholders had all (roughly) the same stake size so not only one / the biggest stakeholders would produce blocks.

Not sure I follow your logic.  If security becomes greater the larger the stakeholder, inevitably, this would mean the most secure DPOS system is where a single stakeholder owns most if not all Bitshares.  The super stakeholder would then be the most motivated party to vote to keep control of the network.

There for sure is a balance / trade off between voting/forging participation and decentralization in any POS system.

[wasthatawolf]

...
It has become obvious through the recent happenings on these forums that a large bulk of Bitshares in circulation are held by a somewhat small group of investors who have successfully gagged the developers ...

No investor like a coin that is controlled by a small group of people. The fact has to be verified. If this is true, there needs to be transparency on when this control is over.

I believe it actually the opposite and investors love when whales take positions. Look at how stocks react when Icahn or other big hedge funds take a large position.  Most rocket up when the reports come out.  Most investors feel comfort when they follow a whale

All moralizing judgments aside (economics and psychology of envy) having large stakeholders is good for a DPOS system because the higher the stake the more motivated the parties are to vote and the more secure and competitive is the network/blockchain.
So be happy about the few that take the risk and put in the work.

It's the same for (NXT like) POS but there it would additionally be beneficial / necessary if the large stakeholders had all (roughly) the same stake size so not only one / the biggest stakeholders would produce blocks.

Not sure I follow your logic.  If security becomes greater the larger the stakeholder, inevitably, this would mean the most secure DPOS system is where a single stakeholder owns most if not all Bitshares.  The super stakeholder would then be the most motivated party to vote to keep control of the network.

[TurkeyLeg]

teenagecheese, I suppose the virtue of patience comes with age. When you become agedcheddar, you will look back on this day wondering what it would have been like if you had done things differently.

I hope you all the best in your future endeavors.

HAHA!

[santaclause102]

...
It has become obvious through the recent happenings on these forums that a large bulk of Bitshares in circulation are held by a somewhat small group of investors who have successfully gagged the developers ...

No investor like a coin that is controlled by a small group of people. The fact has to be verified. If this is true, there needs to be transparency on when this control is over.

I believe it actually the opposite and investors love when whales take positions. Look at how stocks react when Icahn or other big hedge funds take a large position.  Most rocket up when the reports come out.  Most investors feel comfort when they follow a whale

All moralizing judgments aside (economics and psychology of envy) having large stakeholders is good for a DPOS system because the higher the stake the more motivated the parties are to vote and the more secure and competitive is the network/blockchain.
So be happy about the few that take the risk and put in the work.

It's the same for (NXT like) POS but there it would additionally be beneficial / necessary if the large stakeholders had all (roughly) the same stake size so not only one / the biggest stakeholders would produce blocks.

[Bitecoin]

Only time will tell, whether he made the right decision
and time is on our side

[lil_jay890]

...
It has become obvious through the recent happenings on these forums that a large bulk of Bitshares in circulation are held by a somewhat small group of investors who have successfully gagged the developers ...

No investor like a coin that is controlled by a small group of people. The fact has to be verified. If this is true, there needs to be transparency on when this control is over.

I believe it actually the opposite and investors love when whales take positions. Look at how stocks react when Icahn or other big hedge funds take a large position.  Most rocket up when the reports come out.  Most investors feel comfort when they follow a whale

[btswildpig]

...
It has become obvious through the recent happenings on these forums that a large bulk of Bitshares in circulation are held by a somewhat small group of investors who have successfully gagged the developers ...

No investor like a coin that is controlled by a small group of people. The fact has to be verified. If this is true, there needs to be transparency on when this control is over.

If such a group which holds majority of the coin exist , they can vote in and vote out any delegate they want .

We wouldn't be seeing people yelling "BM , please downvote or up vote what what what delegate . "

If such a group exist , I doubt they'll ignore www.bts.hk's delegate proposal and hang them out to dry since bts.hk is doing great for promoting BitShares thus would bring value to this suppose secret group .

By the way , please vote for bts.hk , everybody . 

[mf-tzo]

https://www.youtube.com/watch?v=eGblsNXkJog

classic..

[lovejoy]

Hi everyone. I have lost hope in bitshares due to the extended failure of the community to come out with a good product. Repeatedly, I have seen a poor understanding of what makes a good business and a good product.

To save bitshares I think you need to focus on and come out with one, key, killer feature that will increase adoption and open the door to all the other features later. The feature I think you should focus on is making a true decentralized exchange, as I have said before. By true decentralized I mean an exchange you can send real bitcoins to (and other popular cryptos) and then immediately exchange them for other coins. No gateways, no bridges, at least not from the point of view of the user. Just directly to the client.

I saw a little bit of talk about this earlier and it got me excited that at least others are thinking the same thing. Devs, I hope you do this or something like this and I hope you do it soon or else someone else will. Yes, I know it's complicated to implement, but it is what is needed and bitshares is in the perfect position to bring it to the world because you are already on that track. I'll be watching. Good luck.

https://www.youtube.com/watch?v=eGblsNXkJog

[cube]

...
It has become obvious through the recent happenings on these forums that a large bulk of Bitshares in circulation are held by a somewhat small group of investors who have successfully gagged the developers ...

No investor like a coin that is controlled by a small group of people. The fact has to be verified. If this is true, there needs to be transparency on when this control is over.

[LRENZ]

The way i see it at the moment is we rely on bitcoin to continue succeeding and bring more people into this cryptocoin space. I think now bitcoin is entering Wall Street phase over next 2 years and we will begin attracting these types into BitShares once they begin to see the amazing things it has to offer, these people are like our target demographic. Right now I think most bitcoiners aren't too interested in BitShares due to previous PR disasters, bad marketing, and overly complicated presentations but its just a matter of time before we have A LOT more new people invested in this industry with bigger money and looking for the next big thing. By this point we should be ready at least with basic wallets on all platforms and increasing liquidity to get it off the ground properly. The whole concept and philosophy around BitShares is solid and certainly has many advantages over bitcoin itself, I keep saying this I know but I really don't see where the competition is, BitShares is still very young and I have patience...

[BTSdac]

You sold at the bottom.   $0.01 per bts is ridiculously cheap. 

Is it? 

Calling the bottom here is pretty bold as far as I can tell.  Bitshares competitors (NXT, NuShares, Counterparty) are all trading well below the current $25 million market cap.  It has become obvious through the recent happenings on these forums that a large bulk of Bitshares in circulation are held by a somewhat small group of investors who have successfully gagged the developers from speaking their minds on this forum.  Whether the developers did this voluntarily (which I think is most likely the case because they are also large holders) is irrelevant.  The results are the same. 

This is not the formula for a healthy ecosystem and is starting to result in people losing interest (the value of the individual user in the network should not be underestimated).  Recent developments in the bitcoin ecosystem (http://www.nasdaq.com/article/the-first-bitcoin-etf-offers-easy-way-to-profit-from-virtual-currency-gbtc-cm450589) will likely have people questioning the value of maintaining an unproven Bitshares position. 

I've also decided to sit on the sideline for a while to see how this all plays out.

I think compare  with NXT, NuShares, Counterparty, bts is under price

[wasthatawolf]

You sold at the bottom.   $0.01 per bts is ridiculously cheap. 

Is it? 

Calling the bottom here is pretty bold as far as I can tell.  Bitshares competitors (NXT, NuShares, Counterparty) are all trading well below the current $25 million market cap.  It has become obvious through the recent happenings on these forums that a large bulk of Bitshares in circulation are held by a somewhat small group of investors who have successfully gagged the developers from speaking their minds on this forum.  Whether the developers did this voluntarily (which I think is most likely the case because they are also large holders) is irrelevant.  The results are the same. 

This is not the formula for a healthy ecosystem and is starting to result in people losing interest (the value of the individual user in the network should not be underestimated).  Recent developments in the bitcoin ecosystem (http://www.nasdaq.com/article/the-first-bitcoin-etf-offers-easy-way-to-profit-from-virtual-currency-gbtc-cm450589) will likely have people questioning the value of maintaining an unproven Bitshares position. 

I've also decided to sit on the sideline for a while to see how this all plays out. 

[Helikopterben]

You sold at the bottom.   $0.01 per bts is ridiculously cheap. 

I agree that liquidity, on/off ramps, ease of use and security are absolutely critical for future growth.  I would also add that rules that punish short sellers liquidity providers will have to be relaxed at some point.  Nobody wants to short gold or btc right now.  The 30 day buyback rule probably limits people from doing this.  I realize this rule was created to bootstrap these markets, but at some point it will have to be relaxed or done away with completey. 

[infovortice2013]

yeah man i feel like this too, we put money loose 50% already we put work spreading word and spent time thinking about, now is no gateways to take fiat directly, and about 4000 milions of bts tokens this is clear invitation of downprice for a long time, some little people having huge rewards in this shit phase, while the rest NO. So is going to be normal comunity people burned out, but im sure BitShares potencial possibilities and power, im not going to jump out because this proyect is the best of all cryptos and has best teams coding and creating. i hate cant buy more bts to make my token bag  i have buyed before price down. and hate too not have a shared delegate with other blog forums meetings word spreaders or for people that helps newbies in forum.

sincerily i cant understand this, have 1k millions extra tokens for pay delegates and dont wanna use 1 delegate for this question, to tip people and feel appreciated his time, work etc.. and not feel that his efforts are used to make rich a small group of comunity members and other small group that never read one line in the forum.

[cass]

Bitshares has done many things right, perhaps even most NECESSARY things right. However for its potential to be realized it has not done the SUFFICIENT thing yet ... which is achieve high liquidity of trading and ease of inbound and outbound flows ...

The great lesson to be learned form Ripple Labs is as follows: ONLY after they pivoted to target BANK settlement and NOT consumers Ripple adoption has taken off:

TL;DR:  Liquidity liquidity liquidity ... onramps, onramps, onramps ... offramps, offramps, offramps

:-)

Cheers

Right on point.  This is why the work Gentso1 is doing is so important.  We need 5 more of him.

 

[matt608]

Bitshares has done many things right, perhaps even most NECESSARY things right. However for its potential to be realized it has not done the SUFFICIENT thing yet ... which is achieve high liquidity of trading and ease of inbound and outbound flows ...

The great lesson to be learned form Ripple Labs is as follows: ONLY after they pivoted to target BANK settlement and NOT consumers Ripple adoption has taken off:

TL;DR:  Liquidity liquidity liquidity ... onramps, onramps, onramps ... offramps, offramps, offramps

:-)

Cheers

Right on point.  This is why the work Gentso1 is doing is so important.  We need 5 more of him.

[CLains]

[donkeypong]

For every transaction, there's a seller (you) and a buyer (me).

[cube]

Hi everyone. I have lost hope in bitshares due to the extended failure of the community to come out with a good product. Repeatedly, I have seen a poor understanding of what makes a good business and a good product.

To save bitshares I think you need to focus on and come out with one, key, killer feature that will increase adoption and open the door to all the other features later. The feature I think you should focus on is making a true decentralized exchange, as I have said before. By true decentralized I mean an exchange you can send real bitcoins to (and other popular cryptos) and then immediately exchange them for other coins. No gateways, no bridges, at least not from the point of view of the user. Just directly to the client.

I saw a little bit of talk about this earlier and it got me excited that at least others are thinking the same thing. Devs, I hope you do this or something like this and I hope you do it soon or else someone else will. Yes, I know it's complicated to implement, but it is what is needed and bitshares is in the perfect position to bring it to the world because you are already on that track. I'll be watching. Good luck.

To each his own. I wish you all the best in your other investment. 

[evolvo]

Bitshares has done many things right, perhaps even most NECESSARY things right. However for its potential to be realized it has not done the SUFFICIENT thing yet ... which is achieve high liquidity of trading and ease of inbound and outbound flows ...

The great lesson to be learned form Ripple Labs is as follows: ONLY after they pivoted to target BANK settlement and NOT consumers Ripple adoption has taken off:

TL;DR:  Liquidity liquidity liquidity ... onramps, onramps, onramps ... offramps, offramps, offramps

:-)

Cheers

 

[yellowecho]

To sell now when this project is so young is beyond my comprehension but whatever.

Agreed.  We're currently at version 0.6.2 and people are throwing in the towel?   
I've been trading exclusively in the client and its already fantastic.. 1.0 is going to blow minds but whatever people can sell shares because I'll buy 

[alexkravets]

Bitshares has done many things right, perhaps even most NECESSARY things right. However for its potential to be realized it has not done the SUFFICIENT thing yet ... which is achieve high liquidity of trading and ease of inbound and outbound flows ...

The great lesson to be learned form Ripple Labs is as follows: ONLY after they pivoted to target BANK settlement and NOT consumers Ripple adoption has taken off:

TL;DR:  Liquidity liquidity liquidity ... onramps, onramps, onramps ... offramps, offramps, offramps

:-)

Cheers 

[LRENZ]

I think we're on the cusp of something huge.

  I constantly feel this way from hearing all the criticisms against bitcoin, whether its volatility, speed of transactions, POW, addresses, etc and seeing all solutions bitshares has provided to fix these problems. I don't see any competitors in the same league as bitshares at the moment. The building blocks are being laid down right now with the beta releases of web and light wallet, mobile wallets to come as well, these are the biggest things we have needed for so long and the other projects can be built on top of these after. To sell now when this project is so young is beyond my comprehension but whatever.

[yellowecho]

These are unchartered territories.. a completely new industry with completely new technology.  In my perspective, BitShares has done far more in a single year than Bitcoin has done in its entire existence.  That's not to belittle the effect of Bitcoin but in terms of investment I feel BitShares has certainly delivered.. especially since sizable gains remain from the IPO (donation) period and the technology is greatly improved and continues to do so.

I wish you the best of luck with your investments and hope you remain active in the BitShares community because I think we're on the cusp of something huge.

[Tuck Fheman]

I have lost hope ...

Noted.

To save bitshares I think you need to ...

I saw a little bit of talk about this earlier ...

I hope you do it soon or else someone else will ...

Yeah, Bitcoin's really paying the price for all of those "features" people (who see a little bit of talk) keep bringing up right after they've lost all hope.

Too bad someone wasn't there to save teh Bitcoin.

Thanks for all you do! 

P.S. I don't know where BitShares would be without these people willing to pay the price and read a little bit about what's going on and then inform the rest of us how they'd do it differently right after letting us know they've lost all hope in the project.

[abit]

Check Github you'll see some progresses made by the devs.

[teenagecheese]

I am still investing, just not in bitshares, at least not now.

Yes, these things do take time and I do have patience. I waited over a year. They also cannot move too slowly because innovation happens fast in the tech world. Bitshares is going too slow, has changed direction too many times, and has STILL not figured out the right direction.

Teenage cheese is aged cheese, it is mature, that is the point of name.

[D4vegee]

Its probably a good thing you sold your shares. This isn't a get rich quick scheme. You need PATIENCE. Just because the developers aren't constantly on the forum like in its earlier days does not mean they're not working their asses off. (I hope they are, I'm sure they are).

This forum is a lot quieter lately, I think that's a good thing. Expect breaking news alerts to counteract the mostly dross posts. I've seen it all before with other techs. (I code and I invest - i know how it works). Bitshares development (to me) is going in the right direction. Rome was not built in a day.

[lil_jay890]

BTS train unloading as many bulls as it can at the bottom before it leaves forever...  It's going to take as few passengers as it can, but the ones that it does will be richly rewarded.

[fluxer555]

teenagecheese, I suppose the virtue of patience comes with age. When you become agedcheddar, you will look back on this day wondering what it would have been like if you had done things differently.

I hope you all the best in your future endeavors.

[Pheonike]

It has at times felt like we are trying to build a house starting with roof.

[Brekyrself]

Did you cash out of Crypto completely?  Sad to see you have lost hope in such exciting times. 

I can see by your join date that you have been around since the beginning thus I hope you keep a close eye on the project.  While founded on solid idea's these projects take baby steps to come to reality.

[teenagecheese]

Hi everyone. I have lost hope in bitshares due to the extended failure of the community to come out with a good product. Repeatedly, I have seen a poor understanding of what makes a good business and a good product.

To save bitshares I think you need to focus on and come out with one, key, killer feature that will increase adoption and open the door to all the other features later. The feature I think you should focus on is making a true decentralized exchange, as I have said before. By true decentralized I mean an exchange you can send real bitcoins to (and other popular cryptos) and then immediately exchange them for other coins. No gateways, no bridges, at least not from the point of view of the user. Just directly to the client.

I saw a little bit of talk about this earlier and it got me excited that at least others are thinking the same thing. Devs, I hope you do this or something like this and I hope you do it soon or else someone else will. Yes, I know it's complicated to implement, but it is what is needed and bitshares is in the perfect position to bring it to the world because you are already on that track. I'll be watching. Good luck.