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RE: AriseBank 1:1 for all Bitshares Holders
https://www.reddit.com/r/BitShares/comments/7r69lv/due_diligence_a_primer_by_example/
There's plenty of things off when it comes to AriseBank, but this guy did an astonishing job on its due diligence.
Wow @droucil, thanks for that. First off that is some serious due diligence, if people did half as much work with their own DD a lot less would lose their $$ to scammers.
As for Arise bank and the points this guy brought up, there seem to be too many to ignore. It almost seems like this guy was part of the project at some point (just a supposition). It does not look good for Arise bank according to this guy and I am not happy about that. I only hope it does not hurt Bitshares reputation too much. The only part that still bothers me is why (or how) would @stan, an extremely intelligent guy, and his team let this get by them?
I am a big fan, and user, of the Bitshres DEX and I was excited about the Arise partnership for one main reason: I want to stop using the centralized exchanges to get my USD in and out of the cryptosphere, and this was one (of the many) claims Arise has made, being able to exchange USD for bitUSD.
Thanks again, gonna go check out your blog now....
These are allegations are answered already 100 of times. @summertooth, if you have any doubts you can check arisebank telegram link to answer your doubts.
https://t.me/arisechat
Thanks @docmastery! How did you know I was searching for that telegram link?!?! I DO hope they can explain all the allegations away, but I have to say I am skeptical at the moment.
Hope you are felling better and able to enjoy the weekend!
Thank you @summertooth, still resting here in my apartment. Hoping to get better soon since my 2 days rest is over.
Haha! I just thought that they are the only ones who can clear everything since I am not affiliated with them. I'm sure, everything will be cleared once you're there.
I love Stan but I think his lack of due diligence is really a problem when it comes to AriseBank. To clear up, he does not speak for the Bitshares committee and in fact is not even in it. He is solely doing this as a hobby. Doesn't mean it won't hurt Bitshares reputation though, seeing as he is still a known figure (sort of a celeb) associated with Bitshares.
I'm afraid this whole thing is really going to hurt Bitshares' reputation (it certainly has in my mind, even after reading that Stan is not truly speaking for Bitshares) - I suspect the appearance of endorsement-by + partnership-with 'Bitshares', through Stan, has been a big part of a lot of people getting sucked-in by this.
I think it'd be really good+important for whatever person/group is able to truly represent 'Bitshares' to come out with some very clear and very public statements completely distancing yourselves from this (and ideally also denouncing it as the clear scam that it is), if not just for Bitshares' reputation, then for all the people who you might still be able to prevent from losing money to this scam through the right action.
Those are exactly my sentiments towards this whole issue, although I could care shit about people investing into Arise as it's their own fault of not doing due diligence.
Ah, thanks @droucil, I did not realize he was only a figurehead. If Arise is BS then I guess it could go either way. It could really hurt the Bitshares brand as he is their, "celeb", or it may not matter and he would just be disregarded as the old guy who got duped.
I am getting ahead of myself though, let's see how this pans out first (fingers crossed).
Yeah, let's just hope the blow wont be too big. The technology behind Bitsahres is still #1 when it comes to the Blockchain world. And this does seems like a very promising year with a lot of upcoming businesses to join the Bitshares Blockchain :)!
So is this it? I mean copying text from another page is easier than writing it all over again. The dev did a mistake when copying too much from others. If that's your source of scam, I feel sorry for you.
As for the bank AriseBank is already filling up the papers for ownership and doesn't want to give any further details because of some people really wanted to stop AriseBank from launching. Look what happened to marqeta easily bought by criminals who wanted to stop arisebank.
And for Shawnster he admitted that he worked with Jared Rice Sr. He stated at first that he doesn't know AriseBank or what so ever. Then later on admitted that he did worked with Jared.
I see you really took your time looking into all the claims being made... O well, this thing be over soon enough. Just hoping it won't hurt the Bitshares reputation too much...
I'm hoping too that AriseBank will be true to their words and alliance. I wanted bitshares network to grow. With the help of AriseBank this is possible. If the committee will accept AriseBank integration there will be 700 more assets to choose from in the Bitshares DEX.
I'm hoping it's not wishful thinking