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Offline profitofthegods

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If you could start any Bitshares business...
« on: May 07, 2015, 08:51:49 AM »

I'm confused why more people aren't starting Bitshares related business. There seems to be less of an 'ecosystem' around BTS than there is for other cryptos, but yet there should be more as the DPoS provides a way to help fund them.

So I just thought I'd ask - Do people even have any good ideas for BTS businesses?

Personally, if I could start any Bitshares business...

I would set up a site selling BitGold. You can say to people "invest in gold online with zero fees and earn interest". That is genuinely better than everything else being offered on the market anywhere in the world right now. I think it is reasonable to assume that its as good a deal as it is practically possible for people to ever get, now or in the future.

Its also a huge market, both in terms of the number of people and even more so in terms of $$$.

What's more its not marketing to crypto-fans (which is a way over-saturated market), its bringing in new blood who may not know or care about cryptocurrency and who don't need to care about it to enjoy its benefits.

If anyone wants to steal this idea from me feel free - but please do consider contacting me as I can help with marketing and some other things.

Any other ideas?
« Last Edit: May 07, 2015, 09:13:37 AM by profitofthegods »


Offline xiahui135

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Re: If you could start any Bitshares business...
« Reply #2 on: May 10, 2015, 12:08:20 AM »
Because the core rules are changing, this do harm to these businesses. We need time to get stable rules.

Offline jsidhu

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Re: If you could start any Bitshares business...
« Reply #3 on: May 10, 2015, 02:57:14 AM »
I helped do cryptosmith.imfo
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delegate: dev.sidhujag

merockstar

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Re: If you could start any Bitshares business...
« Reply #4 on: May 10, 2015, 03:24:34 PM »
I'm not smart enough to start a business and I don't have enough money to invest in somebody who is.

I noticed the ball didn't get rolling on many Bitcoin businesses until the price started going high enough to make an older generation of Bitcoin loyal wealthier.

Imagine how it will be when people currently here have the resources and time to pursue their interests.

Imagine fuzzy, CLains, and gamey with a big bag of money and no day jobs to prevent it from happening.

Imagine 38PTSWarrior with the resources of a middle class american and his imagination.

One thing I've kind of always felt about this forum but was never able to articulate was that the profit driven nature of this project always kind of producing feeling of urgency beyond which is necessary or appropriate for a cryptocurrency. I can appreciate how it fosters unity and keeps people motivated for that first generational push referenced above, but this is a game of patience. It takes time for the code to harden and for people to see that this can work long term, as they have with Bitcoin.

Offline onceuponatime

Re: If you could start any Bitshares business...
« Reply #5 on: May 11, 2015, 04:15:10 PM »
Developing Innovative Ideas for New Companies: The First Step in Entrepreneurship:

https://www.coursera.org/course/innovativeideas

Offline Ben Mason

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Re: If you could start any Bitshares business...
« Reply #6 on: May 11, 2015, 05:26:44 PM »
There are a heap of businesses I'd like to see started and would happily help once bts has taken off!

Decentralized science journal / research review and publishing - so a permanent record of honest science is distributed across the world

Film, creative writing & digital art versions of peertracks

Totally transparent charities where you can track your donation to source and know that the money was spent on the intended purpose


Offline Akado

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Re: If you could start any Bitshares business...
« Reply #7 on: May 11, 2015, 06:40:09 PM »
Lending
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Offline CLains

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Re: If you could start any Bitshares business...
« Reply #8 on: May 11, 2015, 06:49:58 PM »
There's a ton of ideas, https://bitsharestalk.org/index.php/board,9.0.html

The main focus now is to reach escape velocity. With that, everything else can happen.. The new paid worker update, whitelisting on UIAs, privatized bitAssets, updated database and the referral system are calibrated to make the explosion that much more fruitful for everyone who gets drawn into it. The second BitShares gets second wind, everyone can go do their own thing and attract a team of people to help with dns, lending, vote, prediction markets, ecommerce, identity, exchanges, and so on.

Offline kokojie

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Re: If you could start any Bitshares business...
« Reply #9 on: May 12, 2015, 03:04:02 PM »
Any gold investor would refuse to invest in such fund, because you don't own any gold, only a "promise" to maintain the peg to gold.

I had an idea to do passthru UIA for high dividend stocks in the US, the dividends would constantly increase demand for BitUSD since I'll have to buy BitUSD and pay to investors, but there's currently no way to issue dividends in Bitshares, so I can't do that.

Online Chuckone

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Re: If you could start any Bitshares business...
« Reply #10 on: May 12, 2015, 03:34:04 PM »
I noticed the ball didn't get rolling on many Bitcoin businesses until the price started going high enough to make an older generation of Bitcoin loyal wealthier.

If Bitshares takes off in a significant way, my guess is that many early adopters/hodlers will want to diversify and become venture capitalists in some way.

This will open the money valve for 3rd party developers who seeks funding for their startup powered by Bitshares. It's a virtuous circle. The higher the market cap, the more there will be visibility and funding in the ecosystem to promote growth and usefulness, and greater the adoption will be, increasing the market cap...

The end game is not the market cap, it's the product. But without the first, it will be difficult to fund businesses that will enhance the user experience for the whole ecosystem. Being able to pay for an army of workers with very limited dilution will make the difference.

Offline profitofthegods

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Re: If you could start any Bitshares business...
« Reply #11 on: May 12, 2015, 07:39:59 PM »
I noticed the ball didn't get rolling on many Bitcoin businesses until the price started going high enough to make an older generation of Bitcoin loyal wealthier.

If Bitshares takes off in a significant way, my guess is that many early adopters/hodlers will want to diversify and become venture capitalists in some way.

This will open the money valve for 3rd party developers who seeks funding for their startup powered by Bitshares. It's a virtuous circle. The higher the market cap, the more there will be visibility and funding in the ecosystem to promote growth and usefulness, and greater the adoption will be, increasing the market cap...

The end game is not the market cap, it's the product. But without the first, it will be difficult to fund businesses that will enhance the user experience for the whole ecosystem. Being able to pay for an army of workers with very limited dilution will make the difference.

Yes, I think workers will make a difference, but until it its as much of a catch 22 as a virtuous circle.

Offline toast

Re: If you could start any Bitshares business...
« Reply #12 on: May 12, 2015, 10:26:52 PM »
A proper market-making business, which would hedge BTC and BTS exposure and only stay long fiat, whose income would come only from real mm profit and not speculation. Then it's a simply a matter of showing the numbers to get investors to add liquidity.
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Offline xiahui135

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Re: If you could start any Bitshares business...
« Reply #13 on: May 13, 2015, 01:27:06 AM »
A proper market-making business, which would hedge BTC and BTS exposure and only stay long fiat, whose income would come only from real mm profit and not speculation. Then it's a simply a matter of showing the numbers to get investors to add liquidity.
In the new rules, it will be hard to do market make business.
If you hold BTA, you can easily settle to get BTS with worry price change. You need not to place an buy BTS order on the market.
But if you hold BTS, you have to place an sell order on the market to get BTA. this drive the price down.

 

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