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Offline jannnic

Good coin guys, congrats!
« on: December 04, 2014, 11:15:02 AM »

This is really a nice coin you made there! I thought that Worldcoin would take over for quite a while but this looks much better now. Fuck worldcoin I go with this now!

I have to say though that that BitUSD subproject concerns me a bit. I am with Ron Paul when it comes to the FED. But Bitshares all the way!

And as far as I'm concerned you go a bit of track with what that toast guy is doing with his dns stuff. bytemaster don get distracted here! ask your brother he will know...
« Last Edit: December 04, 2014, 11:17:00 AM by jannnic »

Offline xeroc

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Re: Good coin guys, congrats!
« Reply #1 on: December 04, 2014, 11:18:52 AM »
Btw .. bitshares is not a coin but a share .. bitusd bitcny botgold and all the others are like coins
« Last Edit: December 04, 2014, 12:15:33 PM by xeroc »
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Offline jannnic

Re: Good coin guys, congrats!
« Reply #2 on: December 04, 2014, 11:27:20 AM »
Btw .. bitshares is not a coin but a share .. bitusd bitcny botgold and all the others are
ah come on 5329 posts and you still believe in big corporations with shares n stuff!? in essence bitshares is a coin and you know it!

Offline monsterer

Re: Good coin guys, congrats!
« Reply #3 on: December 04, 2014, 11:33:17 AM »
Btw .. bitshares is not a coin but a share .. bitusd bitcny botgold and all the others are
ah come on 5329 posts and you still believe in big corporations with shares n stuff!? in essence bitshares is a coin and you know it!

In my opinion, the base currency BTS *is* an altcoin and the assets are derivatives backed by BTS... Bitshares as a whole is something quite different.
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Offline Rune

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Re: Good coin guys, congrats!
« Reply #4 on: December 04, 2014, 11:43:46 AM »
Btw .. bitshares is not a coin but a share .. bitusd bitcny botgold and all the others are
ah come on 5329 posts and you still believe in big corporations with shares n stuff!? in essence bitshares is a coin and you know it!

It makes more sense to say that bitcoins (or rather satoshis) are digital shares in the bitcoin blockchain. The concept of a digital coin is nonsensical and is at best a metaphor.

That being said, i still often call BTS as an altcoin just out of habit. But it really makes no sense as anything other than a metaphor for its properties, and in the long run we'll likely see very limited coin-like behaviour from BTS because of its volatility.
« Last Edit: December 04, 2014, 11:46:00 AM by Rune »

Offline cass

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Re: Good coin guys, congrats!
« Reply #5 on: December 04, 2014, 11:53:11 AM »
Btw .. bitshares is not a coin but a share .. bitusd bitcny botgold and all the others are
ah come on 5329 posts and you still believe in big corporations with shares n stuff!? in essence bitshares is a coin and you know it!

It makes more sense to say that bitcoins (or rather satoshis) are digital shares in the bitcoin blockchain. The concept of a digital coin is nonsensical and is at best a metaphor.

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Offline monsterer

Re: Good coin guys, congrats!
« Reply #6 on: December 04, 2014, 12:19:22 PM »
That being said, i still often call BTS as an altcoin just out of habit. But it really makes no sense as anything other than a metaphor for its properties, and in the long run we'll likely see very limited coin-like behaviour from BTS because of its volatility.

It makes as much sense as calling bitcoin a coin :)
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Offline xeroc

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Re: Good coin guys, congrats!
« Reply #7 on: December 04, 2014, 12:21:23 PM »
That being said, i still often call BTS as an altcoin just out of habit. But it really makes no sense as anything other than a metaphor for its properties, and in the long run we'll likely see very limited coin-like behaviour from BTS because of its volatility.

It makes as much sense as calling bitcoin a coin :)
Miners used to look alot different too ;)
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Offline jannnic

Re: Good coin guys, congrats!
« Reply #9 on: December 04, 2014, 02:44:50 PM »
Guys, read my OP! I just wanted to support you! Maybe you can also dissolve a few a my concerns there...?

Offline Rune

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Re: Good coin guys, congrats!
« Reply #10 on: December 04, 2014, 03:07:36 PM »
Guys, read my OP! I just wanted to support you! Maybe you can also dissolve a few a my concerns there...?

Bitassets including bitUSD are nothing more than a decentralized market pegging mechanism, they have on connection to real USD other than always having roughly the same price. That means you don't support the US dollar when you hold bitUSD, you just ensure that your money stays pegged to its value. If you'd rather have your money staying pegged to the value of gold, or silver, or BTC you can buy bitgold, bitSLV or bitBTC instead and your money will be pegged to the value of these assets instead.

Offline Stan

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Re: Good coin guys, congrats!
« Reply #11 on: December 04, 2014, 04:47:10 PM »
Actually, I jump between metaphors all the time.  Nothing wrong with calling these "coins" in certain contexts.

Here's a post I just put on reddit where I simultaneously used "shares" and "smart coin" metaphors to answer a good question...
Quote
[–]kingofthejaffacakes 6 points an hour ago
That's fasincating. Good idea.
I'm still concerned about what it is that's making BitShares valuable. "Requires 300% reserves", but of what? BitShares? But the only thing giving them value is the stuff that's been collataralised, but as you've just explained, that "stuff" isn't really there either.
I'm honestly just trying to understand. It's crossed my mind a couple of times that, for bitcoin, if one could balance a long against a short, you could have constant value of some other unit, while effectively still being able to ship your bitcoins about with their typical liquidity. I'd love it if someone has found a P2P way of making it work.

[–]StanLarimer 4 points 53 minutes ago

If you think of BitShares as an unmanned startup company implemented on an incorruptible blockchain and making profits from transaction fees then you can see how investors might want to own shares in that company. BitShares the tradable token (BTS) represent an interest in BitShares the unmanned company. BTS have value to investors because they hope to participate in that company's appreciation and earnings. This value is every bit as real as the value of a share of Apple stock. The market sets it based on the perceived potential for earnings and appreciation.

BitShares the unmanned blockchain-based company has financial products called BitAssets (like BitGold, BitUSD, etc.) that work like smart currencies. (Currencies designed to autonomously track the value of some other asset.) You can find BitUSD trading right beside "ordinary" altcoins at #32 on coinmarketcap.com. It is a smart-coin stabilized by a trading exchange built in to the BitShares blockchain. BTS "shares" in this company trade like a coin at #4 on coinmarketcap but they are more valuable because they do more. BitShares the company uses its own shares as collateral to back the value of its BitAssets. Yet this all has no counterparty risk, just like first-generation cryptocurrencies like Bitcoin.

Join the discussion at:  http://www.reddit.com/r/austrian_economics/comments/2o9e6v/what_if_you_had_all_the_benefits_of_bitcoin_with/
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julian1

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Re: Good coin guys, congrats!
« Reply #12 on: December 04, 2014, 09:28:43 PM »

If you think of BitShares as an unmanned startup company implemented on an incorruptible blockchain and making profits from transaction fees then you can see how investors might want to own shares in that company. BitShares the tradable token (BTS) represent an interest in BitShares the unmanned company. BTS have value to investors because they hope to participate in that company's appreciation and earnings. This value is every bit as real as the value of a share of Apple stock. The market sets it based on the perceived potential for earnings and appreciation.

BitShares the unmanned blockchain-based company has financial products called BitAssets (like BitGold, BitUSD, etc.) that work like smart currencies. (Currencies designed to autonomously track the value of some other asset.) You can find BitUSD trading right beside "ordinary" altcoins at #32 on coinmarketcap.com. It is a smart-coin stabilized by a trading exchange built in to the BitShares blockchain. BTS "shares" in this company trade like a coin at #4 on coinmarketcap but they are more valuable because they do more. BitShares the company uses its own shares as collateral to back the value of its BitAssets. Yet this all has no counterparty risk, just like first-generation cryptocurrencies like Bitcoin.
 

 +5% I stumbled over this comment on that reddit thread and it made me want to invest in bitshares all over again!, Earnings, Apple, Blockchain, generational improvement, smart currencies  - Bitshares has everything!


Offline Empirical1.1

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Re: Good coin guys, congrats!
« Reply #13 on: December 04, 2014, 09:32:11 PM »
Btw .. bitshares is not a coin but a share .. bitusd bitcny botgold and all the others are
ah come on 5329 posts and you still believe in big corporations with shares n stuff!? in essence bitshares is a coin and you know it!

Xeroc is right, BitShares are shares, who's supply changes based on the value of opportunities to shareholders. It's a great time to buy, lots of great things happening here in the next few months.

If you like the idea of a coin more, you may want to look at BitShares PTS. It is becoming a no-inflation coin that is going to have some of the basic features of BitShares. The snapshot is in 11 days.
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Offline sschechter

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Re: Good coin guys, congrats!
« Reply #14 on: December 04, 2014, 10:04:32 PM »
Guys, the OP has enthusiastically shown support for BitShares.  Can we welcome him properly and not beat him down with trivial arguments over semantics??
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