Quote from: DecentralizeEconomics on January 09, 2016, 07:43:02 AM

Quote from: CoinHoarder on January 08, 2016, 12:42:09 PM

You say the Larimers are in control, yet in actuality Bitshares stakeholders are happy to have CNX in control. This is evidenced by witness voting, as CNX can be overruled at any time if the stakeholders so choose (since they own less than a 13% stake.) Bitshares stakeholders trust CNX to do the right thing and deliver because they have in the past and have proven themselves, and in the event they do not then stakeholders can remove them from power. That is the beauty of delegated proof of stake, and how it is supposed to work.

Actually, you can't remove them from power because Bitshares DPoS is vulnerable to Sybil attacks and even if it wasn't, you still don't know what potential voting alliances exist to manipulate the elections via strategic voting. 13% of stake in DPoS allows for them to control over 50% of the elections via strategic voting.

13% stake can be easily overruled by the remaining 87% of stakeholders. Most delegates are known people in the community and Sybil has been mostly mitigated. If someone formed a strategic alliance to rig the voting then that would be dumb on their part, because it would greatly and negatively affect the value of their stake once the other shareholders caught on. They would certainly catch on eventually.. secrets are impossible to keep secret if they involve multiple parties.

Quote from: DecentralizeEconomics on January 09, 2016, 07:43:02 AM

Quote from: CoinHoarder on January 08, 2016, 12:42:09 PM

That's cool if you don't like that, but to call them liars and thieves and/or Bitshares a scam because of that is disingenuous in the least considering everything is out in the open and done transparently.

I call them liars, cheaters and thieves because they have changed the terms on their investors so many times that I've lost count. The change of terms is always to their benefit. If you can't see this, you're deluding yourself.

All changes needed stakeholder approval. It is unfortunate you didn't get your way and don't agree with the direction the project has gone, however it is ridiculous that you cry about it for the rest of Bitshares' existence. There are many people that have been around since day one that do not feel this way, so the fact that you think they are "liars, cheaters and thieves" is your personal opinion that you are trying to convey as fact.

Quote from: DecentralizeEconomics on January 09, 2016, 07:43:02 AM

They also continually attempt to market Bitshares as "Safer than a Swiss Bank" and "Your own Fort Knox!" when they know it is subject to the flaw mentioned below.

No one has used that terminology in a very long time, and your use of the word "continually" in that statement makes the statement a lie. It is simply an exaggeration of a past gripe you have with the way Bitshares was originally marketed. These slogans have not been used for a long time, and Bitshares is more careful nowadays to be politically correct. Even still, you cannot fault a technology or a decentralized cryptocurrency because of the words said by a few of its stakeholders. If that is the case, you shouldn't be using any cryptocurrency because there are trolls, liars, cheaters, and thieves in any certain community. For instance, you are one of the most FUD-happy community members around, but I do not fault Nxt (.... a decentralized cryptocurrency ....) for the opinions, propaganda, and writings of one of their users. That is only the sane thing to do.

Quote from: DecentralizeEconomics on January 09, 2016, 07:43:02 AM

Quote from: CoinHoarder on January 08, 2016, 12:42:09 PM

Quote from: DecentralizeEconomics on January 08, 2016, 07:17:36 AM

Quote from: CoinHoarder on January 08, 2016, 06:42:27 AM

Quote from: DecentralizeEconomics on January 08, 2016, 05:54:24 AM

Besides, srsly, who is going to buy 1 BitUSD for 2 real USD?

No one, because they can buy 1 bitUSD for $1.053 USD right now on the Bitshares' decentralized exchange. All of your statements are grossly exaggerated with the purposed to spread FUD about Bitshares. I'm not sure exactly what your motives are, and maybe I'm wrong about you trying to prop up your Nxt investment, but your intentions are crystal clear.

If you don't get what I'm talking about, go read Preston Byrne's analysis of Bitshares.

BitSharesX: Extraordinary claims require extraordinary evidence
Well Ill be damned: BTSX BitAsset market failure after only 5 days
Those who cannot remember last week are condemned to repeat it

Preston Byrne is an idiot FUDer that just wanted attention like you, and he has been proven wrong thus far since SmartCoins (formerly bitAssets) have maintained their peg for almost two years now. Linking to those blog posts, which are heavily weighted in personal opinion, as definitive proof that Smartcoins are broken is hilarious. Especially considering there is factual data that proves Smartcoins have closely resembled the value of their real life counterparts for almost 2 years. Yet, those opinion pieces are obviously correct so lets disregard all of the factual data and base our opinion on someone else's opinion. Roll Eyes

Preston Byrne's pieces aren't just his personal opinion. He makes a very good point on why Bitshares is fundamentally flawed. Nobody from Bitshares has ever addressed this because they know it is fatal.

All cryptocurrencies are inherently risky. There is a risk that any cryptocurrency's value on any certain day can plummet to zero. To fault Bitshares specifically for this risk when all other cryptocurrencies share the same risks is blasphemous. The Bitshares community has addressed black swan events. It was discussed long before Preston brought it up inside the Bitshares community, he simply popularized everyone's knowledge of it. The Bitshares community admits that this risk exists, and as always no one should invest more than they can afford to lose. This goes with any investment.. cryptocurrencies, commodities, stocks, etc... and is common sense. Although the risk exists, it is in my opinion unlikely that it will ever happen. Cryptocurrencies with the volume, liquidity, and market cap of Bitshares simply do not lose over 50% of their value in one day. Smartcoins have worked well for approximately two years now, and have closely followed the value of their real life counterparts- even in a long time bear market Bitshares has experienced. It would take something catastrophic for a black swan event to happen, and again that risk is inherent with any investment- cryptocurrency or not. Hell, that risk even exists with FIAT and many traditionally "safe" holdings.

Quote from: DecentralizeEconomics on January 09, 2016, 07:43:02 AM

Quote from: CoinHoarder on January 08, 2016, 12:42:09 PM

Quote from: DecentralizeEconomics on January 08, 2016, 07:17:36 AM

Quote from: CoinHoarder on January 08, 2016, 06:42:27 AM

You are such a hypocrite, as further evidenced by you recently championing Synereo when they have yet to prove anything to anyone.. there is much more risk in Synereo at this point than an established cryptocurrency like Bitshares.

How does my support for Synereo, a decentralized social network, make me a hypocrite? Here's the link to github https://github.com/synereo/. As far as I know, there are no backdoors and nobody can confiscate anybody's AMPs.

Synereo is largely unproven at this point. So you're telling me you've read the source code line for line and understand it already? LOL. You should probably give it more than a few months before declaring that there are no backdoors.. no one reputable has been able to review the source code yet. Let's wait and see if they deliver before championing them, because at this point it's vaporware. Many projects have released open sourced code and have yet to launch after years of development. Stating vaporware is a better investment than a cryptocurrency that is battle and time tested, has built a network effect, community, services, supporting companies and ecosystem, etc... is a ridiculous statement in which rationality is negated by your personal vendetta against Bitshares.

I'm saying that project run by people who haven't proven themselves to be unethical is a better investment than a project run by people who time and again have proven themselves to be unethical.

That is again your opinion passed off as fact. There are many in the Bitshares community that do not feel this way. Again, I'm sorry you don't like the direction that the Bitshares project has taken, but it is ridiculous to FUD it for the rest of its existence because of that. This is why I think you must have some ulterior motive, because no sane person would dedicate their life to doing so. You stated you were an early Bitshares investor, so I assume you dumped Bitshares at the top and now (since it closely competes with your large Nxt holdings) you have dedicated your life to discrediting it.... which is sad and pathetic. My apologies if you are simply insane.