Author Topic: Bitcoin rocketing through the roof, BTS left behind  (Read 2733 times)

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Offline Buck Fankers

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I'm not even saying that all of those points are valid, but that has to be the view from the outside.

The market has absolutely no trust in BTS or its devs.


Offline BunkerChainLabs-DataSecurityNode

Bitshares is suffering from "developer uncertainty". Devs have a terrible history of manipulating supply, splitting and joining networks, wasting crowdfunded donations, attempting to pump the price on vague, empty promises, distancing themselves legally and financially from shareholders, taking the shareholders hostage with their proprietary, closed IP. Now the lead developer launches his own coin that is rumored to potentially be a target of some kind of future value infusion from Cryptonomex, instead of BTS. I'm not even saying that all of those points are valid, but that has to be the view from the outside.

Hm? Lead developer launches his own coin? Rumors? What do you speak of? I'm not sure I follow.

I believe from the total description he was characterizing BROWNIE.PTS as 'his own coin'. It's an Asset not a coin... nonetheless.. there is a general lack of trust in the devs work aside from us core followers here.
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Offline Empirical1.2

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Bitshares is suffering from "developer uncertainty". Devs have a terrible history of manipulating supply, splitting and joining networks, wasting crowdfunded donations, attempting to pump the price on vague, empty promises, distancing themselves legally and financially from shareholders, taking the shareholders hostage with their proprietary, closed IP. Now the lead developer launches his own coin that is rumored to potentially be a target of some kind of future value infusion from Cryptonomex, instead of BTS. I'm not even saying that all of those points are valid, but that has to be the view from the outside.

This.  The market has absolutely no trust in BTS or its devs.  The only way to change that is to get 2.0 out, demonstrate a useable product, and start actually making money.

Besides EU bank risk spiking recently, the EU is also red-flagging bank accounts linked to Bitcoin even for very small amounts, so I imagine many alt-coiners would consider profit-taking into BitCurrencies and BitCommodities, hopefully BTS 2.0 will be out early enough to slingshot off current events too.

BTS 2.0 actually looks really good. My main concern with BTS the company is whether it can convince the market it is sufficiently decentralised and robust enough.
« Last Edit: July 06, 2015, 06:18:20 pm by Empirical1.2 »
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Offline Ander

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Bitshares is suffering from "developer uncertainty". Devs have a terrible history of manipulating supply, splitting and joining networks, wasting crowdfunded donations, attempting to pump the price on vague, empty promises, distancing themselves legally and financially from shareholders, taking the shareholders hostage with their proprietary, closed IP. Now the lead developer launches his own coin that is rumored to potentially be a target of some kind of future value infusion from Cryptonomex, instead of BTS. I'm not even saying that all of those points are valid, but that has to be the view from the outside.

This.  The market has absolutely no trust in BTS or its devs.  The only way to change that is to get 2.0 out, demonstrate a useable product, and start actually making money.
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Offline btswildpig

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Bitshares is suffering from "developer uncertainty". Devs have a terrible history of manipulating supply, splitting and joining networks, wasting crowdfunded donations, attempting to pump the price on vague, empty promises, distancing themselves legally and financially from shareholders, taking the shareholders hostage with their proprietary, closed IP. Now the lead developer launches his own coin that is rumored to potentially be a target of some kind of future value infusion from Cryptonomex, instead of BTS. I'm not even saying that all of those points are valid, but that has to be the view from the outside.

ouch!

i'm not so sure the typical alt crypto speculator does that much research...i think the typical path is to scan coinmarketcap and pick something with a nice name.

unless you're public enemy number 1 who had sware to eliminate BTC , POW , etc .etc ....
It tend to draw some unwanted attention to dig dirt on you .
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Offline cylonmaker2053

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Bitshares is suffering from "developer uncertainty". Devs have a terrible history of manipulating supply, splitting and joining networks, wasting crowdfunded donations, attempting to pump the price on vague, empty promises, distancing themselves legally and financially from shareholders, taking the shareholders hostage with their proprietary, closed IP. Now the lead developer launches his own coin that is rumored to potentially be a target of some kind of future value infusion from Cryptonomex, instead of BTS. I'm not even saying that all of those points are valid, but that has to be the view from the outside.

ouch!

i'm not so sure the typical alt crypto speculator does that much research...i think the typical path is to scan coinmarketcap and pick something with a nice name.

Offline VoR0220

Bitshares is suffering from "developer uncertainty". Devs have a terrible history of manipulating supply, splitting and joining networks, wasting crowdfunded donations, attempting to pump the price on vague, empty promises, distancing themselves legally and financially from shareholders, taking the shareholders hostage with their proprietary, closed IP. Now the lead developer launches his own coin that is rumored to potentially be a target of some kind of future value infusion from Cryptonomex, instead of BTS. I'm not even saying that all of those points are valid, but that has to be the view from the outside.

Hm? Lead developer launches his own coin? Rumors? What do you speak of? I'm not sure I follow.
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Offline triox

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Bitshares is suffering from "developer uncertainty". Devs have a terrible history of manipulating supply, splitting and joining networks, wasting crowdfunded donations, attempting to pump the price on vague, empty promises, distancing themselves legally and financially from shareholders, taking the shareholders hostage with their proprietary, closed IP. Now the lead developer launches his own coin that is rumored to potentially be a target of some kind of future value infusion from Cryptonomex, instead of BTS. I'm not even saying that all of those points are valid, but that has to be the view from the outside.

Offline cylonmaker2053

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Our time will come. Short term price fluctuations don't mean much when we consider the long term potential for BTS. let's just keep focusing on getting bitUSD and bitCNY into general circulation and we'll all be very well rewarded in the end...

Offline Empirical1.2

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It's unfortunate, but it seems the market don't put much value in BTS potential.

It's like comparing BTS to a highly intelligent teenage girl that is rejected because she lacks social skills, even though she has a lot of potential and only needs to develop it. At some point she's going to become a beautiful, articulate, highly educated (and highly paid!) young ambitious woman and all those who rejected her at the time will understand it was a mistake. But for the time being, she's left aside and the other teenage boys don't consider her interesting.

BTS ain't sexy right now. Even though it has much potential, investors don't see it yet. I don't say that BTS is undervalued compared to its intrinsic value, but in the speculative world of crypto finance, there's much hype and not a lot of investing based on fundamentals.

So until there's a 2.0 out there generating profits and several success stories of business partnerships, I don't think BTS will come anywhere near "the moon".

A shift in the general perception will need to happen so people outside this forum start to believe Bitshares IS the next best thing after Bitcoin.

While predominantly male and in the 18-40 range,  the alt-coin market is made up of a diverse group of more intelligent than average individuals from a wide range of interests and backgrounds, including traditional investing and from countries all over the world. As a result, even in an illiquid market most projects are fairly valued.

Currently you have a flight to safety, the most established, immutable, simple and robust crypto-currencies being the beneficiaries.  As the flight to safety is mostly coming out of Europe and particularly from Greece's trading partners like Bulgaria, whose main exchange is btce, as Clout pointed out, you're seeing PPC and NMC in particular being temporarily over-valued as a result. The Chinese stock market turmoil is also positive for crypto.

However this is all predictable...

Litecoin is still considered the next crypto-currency should Bitcoin run into problems and is also coming up to a block reward halving which could significantly reduce selling pressure. Combined I wouldn't be surprised to see the LiteCoin rally continue strongly.  Capital controls this weekend possibly for Greece could be good for all crypto too if it actually happens this time.

LTC up >100%  & I hadn't owned a single LiteCoin for ages previously :)
 

I believe it's the prospect of Greek capital controls, we witnessed a similar situation after Cryprus, crypto-currencies really took off.

In terms of percentage gains LTC & DGC could be the big winners,  followed by NXT & possibly PPC etc, then Bitcoin itself.

The one's that will increase but benefit the least from the Greece effect would be Ripple, BitShares, Stellar, MaidSafe and Ethereum if it's trading.


http://coinmarketcap.com/

As expected XRP, BTS, STR and MAID are up a combined average of 0.28% the last 24 hours.

LTC, BTC, DGC, NXT, PPC are up a combined average of 11.2%. ( A 40x greater return)

(Personally though I've been heavily weighted to Litecoin because of the factors outlined above and also more PPC because of btce, but I expect that to be more temporary and am keeping a close eye on volume etc.)


So you are now left with the frustrating situation where vastly inferior blockchains will rise rapidly in value when centralised currencies have problems despite having almost no development and being extremely costly while BitShares, who is literally blowing them away from a development standpoint and cost comparison has to get it's valuation up the hard way through blood, sweat and tears.

« Last Edit: July 06, 2015, 05:54:58 pm by Empirical1.2 »
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Offline btswildpig

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1、Alt-coin holders don't hold tight like BTS holders do when facing lost . They sell quickly which means everybody can easily pump alt-coin because only a few people has it after a long period of time . That's what any speculative market would expect , and that's why trading charts can see pattern , wave ,etc in repeat cycle .

2、BTS holders want to at least cover their cost , also there is always some "good news" "hope" that keep them hold tight . So , there are not enough sell on the market even though when the price was at the lowest point (volume matters than the price ) . There is an old saying in stock market , "if those who want it rises still alive , those who want it down won't stop "  .  If you try to buy the price up , there will be tons of selling pressure . But if you press the price down , you can't get enough selling volume to build up your inventory .
 
3、You can easily own 1/10000 BTS of the total supply , but imagine how much is 1/10000  in BTC  ? 2100 BTC。。。。 BTS is too distributed to pump .
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Offline Chuckone

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It's unfortunate, but it seems the market don't put much value in BTS potential.

It's like comparing BTS to a highly intelligent teenage girl that is rejected because she lacks social skills, even though she has a lot of potential and only needs to develop it. At some point she's going to become a beautiful, articulate, highly educated (and highly paid!) young ambitious woman and all those who rejected her at the time will understand it was a mistake. But for the time being, she's left aside and the other teenage boys don't consider her interesting.

BTS ain't sexy right now. Even though it has much potential, investors don't see it yet. I don't say that BTS is undervalued compared to its intrinsic value, but in the speculative world of crypto finance, there's much hype and not a lot of investing based on fundamentals.

So until there's a 2.0 out there generating profits and several success stories of business partnerships, I don't think BTS will come anywhere near "the moon".

A shift in the general perception will need to happen so people outside this forum start to believe Bitshares IS the next best thing after Bitcoin.


Offline VoR0220


Chinese abandoned BTS.

LOL. Alright. Fair enough. You bring up some good points.
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Offline Krills

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