Author Topic: Paid-delegates is genius  (Read 4143 times)

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Offline donkeypong

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I like the bee metaphors. He who dies with the most wins.



Offline bitmarket

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I don't want people depending on I3... we are all in this together.

I agree we are all in this together. So what exactly do you want the community to help with regarding onramps?

Good question. We need some directions to work in synergy as we are so much eager to make contribution.

+5% on direction. Nobody really does anything unless bytemaster says "ok guys I would like to see you go organize blah blah". I've been suggesting a good direction the community could go in but it's going to require people working together. That hasn't been easy so far.
That is an interesting challenge for DAC's to overcome.  There is value to leadership. Direction, congruency, team work, coordination etc.  I love your Latin America idea MethodX. Its a great case study.

TO be successful, we would need the dev team to focus on a smartphone wallet and a localbtsx/mycylium style app.  Marketers need to create funnels/videos and other materials in Spanish. Funds need to be provided for marketing(possibly), etc...   How will DAC's address that kind of coordination issues?

Any ideas?
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Offline fluxer555

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I think there is huge incentive to be the first exchange that allows users to vote with their stake.

Offline Method-X

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I don't want people depending on I3... we are all in this together.

I agree we are all in this together. So what exactly do you want the community to help with regarding onramps?

Good question. We need some directions to work in synergy as we are so much eager to make contribution.

+5% on direction. Nobody really does anything unless bytemaster says "ok guys I would like to see you go organize blah blah". I've been suggesting a good direction the community could go in but it's going to require people working together. That hasn't been easy so far.

Offline merlin0113

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I don't want people depending on I3... we are all in this together.

I agree we are all in this together. So what exactly do you want the community to help with regarding onramps?

Good question. We need some directions to work in synergy as we are so much eager to make contribution.

Offline speedy

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I don't want people depending on I3... we are all in this together.

I agree we are all in this together. So what exactly do you want the community to help with regarding onramps?

Offline bytemaster

Exchanges make money from volume and we are already in the top 5 by volume on most days.

The reason we are not listed on bigger exchanges is because bigger exchanges are far more conservative and no amount of delegate pay will change that.

We have partners lined up to make this easy and the exchanges are paying us to bring them customers rather than us paying them.



Awesome. From all the official comments on exchanges/onramps, it always seems to be that i3 has it in the bag, and the community doesnt have to worry about it at all. Is that just about correct?

I don't want people depending on I3... we are all in this together.   

For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline speedy

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Exchanges make money from volume and we are already in the top 5 by volume on most days.

The reason we are not listed on bigger exchanges is because bigger exchanges are far more conservative and no amount of delegate pay will change that.

We have partners lined up to make this easy and the exchanges are paying us to bring them customers rather than us paying them.

Awesome. From all the official comments on exchanges/onramps, it always seems to be that i3 has it in the bag, and the community doesnt have to worry about it at all. Is that just about correct?

Offline Empirical1.1

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Yes a big exchange can vote themselves in whether the community likes it or not.

Might as well benefit from this.

I wouldn't say it's a good thing. It's something we need to be vigilant of & try and correct not encourage imo.

(BTC38 already controls >10% of BTS) + ( https://bitsharestalk.org/index.php?topic=10937.0 ) = ?

Offline matt608

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Exchanges make money from volume and we are already in the top 5 by volume on most days.

The reason we are not listed on bigger exchanges is because bigger exchanges are far more conservative and no amount of delegate pay will change that.

We have partners lined up to make this easy and the exchanges are paying us to bring them customers rather than us paying them.

Sounds good!  +5%

Offline bytemaster

Exchanges make money from volume and we are already in the top 5 by volume on most days.

The reason we are not listed on bigger exchanges is because bigger exchanges are far more conservative and no amount of delegate pay will change that.

We have partners lined up to make this easy and the exchanges are paying us to bring them customers rather than us paying them. 

For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline speedy

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This kind of thing could be useful for big partnerships.  Wouldn't it be worth a delegate spot to get on bitstamp? 

Exactly!

Offline matt608

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I totally disagree with the premise. Once you break into the top 5 in market cap (as we already have) there is no need to fight for acceptance from exchanges. What we're trying to do is effectively conflate the incentive structure of block production with that of marketing and development. What we're actually doing is creating new incentives that serve neither purpose.

This kind of thing could be useful for big partnerships.  Wouldn't it be worth a delegate spot to get on bitstamp? 

However I do actually agree.  If there were a new type of delegate created, 'business delegates' rather than having just 1 delegate class responsible for doing everything then delegate positions could be more easily traded in partnership deals.

Offline matt608

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We don't need big exchanges. BTS should and will only be traded on the internal market and all on-ramps will be in bitassets. This would mean that points of exchange will be able to function at full effectiveness with almost no volume, and we would finally get rid of the problem of goxing, trusting a third party with your savings, manipulation, willy bot etc. It means our on-ramps will be small operations, but spread out all over the place. The feeds will function by averaging the pegs of the respective bitassets and using the average as a multiplier to move the feed price based on the market rate of the internal market.

I thought the feeds currently average the external exchange price of BTSX? So black swans can be caused by massive dumping on just a couple of exchanges at the same time at this point (bter + btc38).  The more exchanges the stronger the price feed.  Sorry but I don't understand your explanation for the feeds/pegs (due to my own limited understanding probably).

Maybe there's a way for exchanges to prove they aren't voting for themselves such as having a trusted delegate could be an escrow for the exchange funds using multisig or something?


« Last Edit: November 03, 2014, 05:21:43 pm by matt608 »

Offline alphaBar

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I totally disagree with the premise. Once you break into the top 5 in market cap (as we already have) there is no need to fight for acceptance from exchanges. What we're trying to do is effectively conflate the incentive structure of block production with that of marketing and development. What we're actually doing is creating new incentives that serve neither purpose.