Author Topic: Bitshares for Savers  (Read 1803 times)

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Offline mike623317

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Thanks guys.

Regarding the utility I agree. However, things like the nanocard allow me to walk in to a store and buy a Pepsi and spend my bitgold without the shop ever knowing (unless I am mistaken).

What I had in mind was a simple section for someone who wants to buy gold and it's clear, simple and easy to understand for someone who isn't interested in going short/long or any of the other trading terms (bitreserve has an easy section like that - I can just buy $50 of oil at the spot price. Done).

If you're a trader you want the graphs and get off on all the analytical tools. But if I want to get out of worthless us$ and own oil, gold silver swiss francs I would just like to do that as easy as possible without trying to understand what the ask price is or what that graph is supposed to be showing. The price of gold is $1200.. here $2400 and I now own 2 ounces without any liability.

Probably me having never traded but something to consider for us non technical folks. Appreciate the debate

Are you asking for something like "Convert" button? Such that you could specify a currency which you have, an asset which you want and the amount and the system would go ahead and buy that asset for you at a market price? Such button would be useful indeed.

Now why couldn't i sum that up a beautifully as that. Thats what i think would be useful for us non-technical and long winded users.

Offline yvv

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Thanks guys.

Regarding the utility I agree. However, things like the nanocard allow me to walk in to a store and buy a Pepsi and spend my bitgold without the shop ever knowing (unless I am mistaken).

What I had in mind was a simple section for someone who wants to buy gold and it's clear, simple and easy to understand for someone who isn't interested in going short/long or any of the other trading terms (bitreserve has an easy section like that - I can just buy $50 of oil at the spot price. Done).

If you're a trader you want the graphs and get off on all the analytical tools. But if I want to get out of worthless us$ and own oil, gold silver swiss francs I would just like to do that as easy as possible without trying to understand what the ask price is or what that graph is supposed to be showing. The price of gold is $1200.. here $2400 and I now own 2 ounces without any liability.

Probably me having never traded but something to consider for us non technical folks. Appreciate the debate

Are you asking for something like "Convert" button? Such that you could specify a currency which you have, an asset which you want and the amount and the system would go ahead and buy that asset for you at a market price? Such button would be useful indeed.

Tuck Fheman

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In 8 months when BTC is at 26 billion and BitShares is at 360 million. 8)
never

Why are you even investing in crypto if that is your attitude?

My "never" was a summary of something I heard/saw Dan say very recently.

He may correct me, but I'm pretty sure that's what he was saying (sorry haven't found the source just yet, other than my memory)

UIA's is where it's at for "saving", "purchasing", etc.

Offline mike623317

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Thanks guys.

Regarding the utility I agree. However, things like the nanocard allow me to walk in to a store and buy a Pepsi and spend my bitgold without the shop ever knowing (unless I am mistaken).

What I had in mind was a simple section for someone who wants to buy gold and it's clear, simple and easy to understand for someone who isn't interested in going short/long or any of the other trading terms (bitreserve has an easy section like that - I can just buy $50 of oil at the spot price. Done).

If you're a trader you want the graphs and get off on all the analytical tools. But if I want to get out of worthless us$ and own oil, gold silver swiss francs I would just like to do that as easy as possible without trying to understand what the ask price is or what that graph is supposed to be showing. The price of gold is $1200.. here $2400 and I now own 2 ounces without any liability.

Probably me having never traded but something to consider for us non technical folks. Appreciate the debate

Offline lil_jay890

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In 8 months when BTC is at 26 billion and BitShares is at 360 million. 8)
never

Why are you even investing in crypto if that is your attitude?  I'm sure you could find a better use of your time other than trolling forums of a product you don't think will succeed.
bite me.why you guys so delusion?

"Bite me"?? How old are you? 12? Go back to whining and playing with your toys. Let the adults handle making bts a success.

To Mike's point... I don't think the line between savers and traders is well defined.  You may want to just save in gold or oil, but you need an interface similar to the GUI in order to get all the information about the asset that you are making the purchase on.

Remember in a bond market, you are not saving, you are loaning and hoping to be paid back with interest. I believe it will be the only way to earn interest with bts.

The size of bitshares isn't what will have people use it as there bank account, it will be it's utility and overall adoption. A whale could come in and drive this to 2 or 3 dollars a coin, but if no places accept bitassets there is no reason for it to become your bank account.

Offline Troglodactyl

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What I'm driving at is the GUI seems to be for traders which for someone who isn't a trader, can be a little confusing.

My interest, and I'm sure I can't be the only one, is to use crypto for saving. Where else can I have the freedom to save in gold, silver, Swiss francs and oil if I so choose. The thrust of my question is although I can do that today, can you really only earn interest through the bond market when it comes online? Also, how big do you think bitshares needs to be before you consider it big enough to use as your bank account?

Now I understand from other posts that people can build an independent GUI, I wonder if anyone has thought about creating one geared towards savers. Just a thought.

Do you find the account overview and explorer pages of the current UI confusing, or just the exchange pages?  Can you let us know specifically what you think should be different in a saver targeted GUI?

Offline mike623317

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What I'm driving at is the GUI seems to be for traders which for someone who isn't a trader, can be a little confusing.

My interest, and I'm sure I can't be the only one, is to use crypto for saving. Where else can I have the freedom to save in gold, silver, Swiss francs and oil if I so choose. The thrust of my question is although I can do that today, can you really only earn interest through the bond market when it comes online? Also, how big do you think bitshares needs to be before you consider it big enough to use as your bank account?

Now I understand from other posts that people can build an independent GUI, I wonder if anyone has thought about creating one geared towards savers. Just a thought.

Offline CLains

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In 8 months when BTC is at 26 billion and BitShares is at 360 million. 8)
never

Why are you even investing in crypto if that is your attitude?  I'm sure you could find a better use of your time other than trolling forums of a product you don't think will succeed.
bite me.why you guys so delusion?

you don't think BTC can go to 26 billion?

Offline lzr1900

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In 8 months when BTC is at 26 billion and BitShares is at 360 million. 8)
never

Why are you even investing in crypto if that is your attitude?  I'm sure you could find a better use of your time other than trolling forums of a product you don't think will succeed.
bite me.why you guys so delusion?

Offline lil_jay890

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In 8 months when BTC is at 26 billion and BitShares is at 360 million. 8)
never

Why are you even investing in crypto if that is your attitude?  I'm sure you could find a better use of your time other than trolling forums of a product you don't think will succeed.

Offline lzr1900

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In 8 months when BTC is at 26 billion and BitShares is at 360 million. 8)
never

Offline CLains

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In 8 months when BTC is at 26 billion and BitShares is at 360 million. 8)

Offline Troglodactyl

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I was wondering when people think that BitShares will be stable enough to be used for saving.

Never.

I'm going to guess he means when the platform will be stable enough to store savings in BitAssets, not when the BTS price will be stable enough to put savings in that.  Either way though the answer is both that it already is for some people and that it never will be for others.  The same is true of gold and national currencies.  Where you put your savings and how much you diversify those savings depends on which risks bother you most.

Tuck Fheman

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I was wondering when people think that BitShares will be stable enough to be used for saving.

Never.

Offline MJK

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I was wondering when people think that BitShares will be stable enough to be used for saving. I know that it can be used whether the market cap is in the millions or billions, but i was wondering what peoples perspective is.

Also, bitshares gives me the ability to save in gold or silver, but is there a way to earn interest? I guess the bond market will allow us to lease our capital to others for interest when that comes online.