PTS/Bitshares/AGS and the absurdity of it all.

[Led]

In western culture, the axiom is often: "The customer is always right." Merchants know that whatever immediate profits they might lose by letting customers return defective products, they'll make many times over in future profits from loyal customers.

Things are much different in China. The general rule is: Caveat Emptor. When Chinese people buy things in China, they almost never expect that they can take it back, or that a warranty will be honored. This beedui isn't the same thing, but the cultural difference is important. This is why tbkmcjl has the attitude "The exchange is king."  I'd like to remind him that if the exchange (or any business) loses its customers, the exchange has lost.

The way I see it, his beedui.com fiasco has one of the following possible explations:
1. The beedui administrators did not understand the way that the PTS snapshot / Bitshares-X DAC was going to work.
2. They did understand, but decided to scam their customers, taking advantage of the general confusion and lack of clear explanations coming from the invictus innovations staff.

It took me a while searching around to find the correct info, and English is my native language! Also I saw one post on this forum, by invictus staff, saying that the snapshot would happen after 11:59PM UTC/GMT on February 28th. In fact, the block at 11:32PM, block 57793, is the important block that serves as the snapshot.

Why did they lock PTS about 12 hours early? Either incompetence or a big scam.

Why is beedui.com locking deposits/withdrawals on PTS until March 5th? Something is fishy.

The question that ZVS asked and still needs to be answered is: Does Beedui.com have any anouncement in Chinese language, on their website, where they say whether or not they will issue Bitshares-X to their account holders? Do they have anything on their website explaining their motivations/reasoning?

Source of blockchain info:
https://bitsharestalk.org/index.php?topic=3291.msg41449#msg41449

How to claim your Bitshares-X:
https://bitsharestalk.org/index.php?topic=1596.0

[zvs]

the notice on the website says withdraw and deposit  for PTS can not  be process until March 5th .
I'm Chinese , I don't think there is anything else you can do.Exchange is the king ....they decide everything.

But then I still wouldnt have my Bitshares would I?... or are they making a record of this somewhere & then will convert them when the time comes?

... anyway, the whole thing is BS.  There was no advance warning about shutting down withdrawals so early.  10+ hours til midnight GMT.  then again, like I said, it's really damn hard to find any useful info about wtf was going on, anyway

[zvs]

(ed: I decided to make this a new topic, instead of replying, so this is referring to my deposit of PTS to 'BeedUI', which froze my PTS well before the midnight GMT cutoff)

Personally, I've had enough of this BS.  I emailed their support saying that I didn't give a crap about Bitshares, and that I wanted to withdraw my PTS.  I'll see what happens.  If I don't get a response, I'll pay some Chinese translation site to translate it for me and resend it. 

I wanted to sell my PTS before midnight GMT, because I knew the price would drop a lot immediately after.  No way in hell the Bitshares one received would be worth the loss from that.  Sadly, I transferred my PTS to an exchange that had no clue as to what was going on. 

That being said, I don't place 100% of the fault on the exchange, a lot lies with a lack of a clear, concise explanation of when this was actually taking place (at midnight GMT) & how long it would actually take for these Bitshares to become accessible (am I suppose to wait two weeks to be able to withdraw my PTS?  lol).  The whole 'AGS' rubbish essentially just further devalued the PTS that I was, well, paying to acquire (via energy costs, server rentals, etc).

It's also bizarre how a pool that I know is taking in a ton of money (ypool) can't seem to afford to pay a couple hundred a month for decent DDoS protection.  While *constant* downtime assuredly nets less money, the large amounts of disconnects & reconnects just increases revenues for what has to be ... the greediest lot of people I've seen in the whole cryptocurrency community (as far as fees for pools and miners goes).  On one pool, I've 'found' 11 blocks, but been awarded approx. 33% of what that would have made solo.  I'm not usually one to have these conspiracy theories & it could very well just be that I've been very lucky, but in this case, well, I have my doubts.

I will leave my PTS/Bitshares node up at 5.9.24.81 for one more month, as I was actually compensated ~$40 for it in early January.  The # of connections has dropped from an avg of 500-600 to ~200-250 these last several days, but it still consumes a decent amount of system resources, & bandwidth.  Almost 3TB of upstream for this month (tons of new users downloading the entire blockchain in the last couple weeks), obv. this will be less going forward (if I had to guess, maybe 1TB for March).  I think three months (plus the several months prior to that) is fair enough.  Supposedly the DNS system is a lot more robust at picking up good nodes now, anyway.