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Offline bytemaster

BitShares X vs emunie
« on: January 30, 2014, 07:56:33 PM »

Many people have suggested that emunie may be our biggest competitor so I would like to address their claims.  They use some similar language but the reality of what they are doing is VERY different. 

They claim:
Quote
With eMunie we have looked at these issues in great detail, and believe we have a solution, that will ensure a fair, stable, honest currency value that does not dilute the holding of any single person in the system anywhere.

This sounds good except that they then claim this:
Quote
These generated eMu's will have "value" as the hatchers have performed real world work to acquire them, however, a caveat of this, is that as the system load increases, and more work is done by more hatchers, these eMu's increase in deemed value, thus devaluing the already present eMu's in the system....and thus acts like traditional INFLATION.
.

Which they then claim to "fix" by paying interest:
Quote
To combat this inflation due to the effect of the increasing work in the system, a portion of the supply eMu's are passed to the accounts already holding eMu as "interest". Interest is calculated as the current annual % increase in eMu supply, as per demand, plus a % increase to ensure equilibrium. This ensures that while the new supply of eMu entering into the system may have higher "value" due to more work done to achieve them, all other eMu's in the system, while worth less, are topped up with new, more valuable eMu to guarantee that stake holder of current eMu does not loose out.

The interest is meaningless to combat the inflation caused by 'hatching' and merely serves to hide the transfer of wealth and confuse the issue.     Suppose the Federal Reserve printed 10% of the money supply and gave it to their friends, but then said it was OK because they are going to pay everyone 10% interest as well.   All they achieved was to hide the fact that they diluted the dollar by 20% and kept half of the dilution for themselves. 

Thus as a DAC emunie is losing money just like everyone else except Ripple and BitShares.   Their interest is mere illusion and accounting trickery and has no economic meaning at all.

http://forum.emunie.com/index.php/topic/139-emunie-latest-technical-and-feature-set-ramblings-29th-june-2013/
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 santaclause102

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Re: BitShares X vs emunie
« Reply #1 on: January 30, 2014, 11:12:50 PM »
The friends in your example would be new buyers/demand?

Offline BldSwtTrs

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Re: BitShares X vs emunie
« Reply #2 on: January 31, 2014, 12:01:13 AM »
Thanks for that interesting clarification.

Thus as a DAC emunie is losing money just like everyone else except Ripple and BitShares.   
There is NXT also, right?

Offline bytemaster

Re: BitShares X vs emunie
« Reply #3 on: January 31, 2014, 12:41:00 AM »
Thanks for that interesting clarification.

Thus as a DAC emunie is losing money just like everyone else except Ripple and BitShares.   
There is NXT also, right?

NXT is better as they have no losses, but they have no profits either.
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 JakeThePanda

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Re: BitShares X vs emunie
« Reply #4 on: January 31, 2014, 08:21:36 PM »
bytemaster,

Do you know anything about how emunie is planning to control the price when there is a significant reduction in demand?
« Last Edit: January 31, 2014, 08:23:37 PM by JakeThePanda »

Offline bytemaster

Re: BitShares X vs emunie
« Reply #5 on: January 31, 2014, 08:53:03 PM »
bytemaster,

Do you know anything about how emunie is planning to control the price when there is a significant reduction in demand?

NO
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 JakeThePanda

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Re: BitShares X vs emunie
« Reply #6 on: January 31, 2014, 08:58:36 PM »
bytemaster,

Do you know anything about how emunie is planning to control the price when there is a significant reduction in demand?

NO

I don't think they do either because I can't seem to get an answer on their forums.

Offline CLains

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Re: BitShares X vs emunie
« Reply #7 on: January 31, 2014, 09:00:01 PM »
Here's a video explanation of eMunie inflation.

More videos about eMunie here.

Might be a problem!
Vote for BTS-2 witness: spectral (1.6.30)

Follow https://steemit.com/@clains

Offline JakeThePanda

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Re: BitShares X vs emunie
« Reply #8 on: January 31, 2014, 09:43:37 PM »
Here's a video explanation of eMunie inflation.

More videos about eMunie here.

Might be a problem!

Thanks, but that video didn't help answer my question.  I'm not sure how their structure prevents hoarding either.  This could be easy money for a short-term play though.

Offline bytemaster

Re: BitShares X vs emunie
« Reply #9 on: January 31, 2014, 09:46:12 PM »
Here's a video explanation of eMunie inflation.

More videos about eMunie here.

Might be a problem!

Thanks, but that video didn't help answer my question.  I'm not sure how their structure prevents hoarding either.  This could be easy money for a short-term play though.

Hoarding is just a derogatory word for DEMAND which is what we are trying to generate to maximize a coins value :).   
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 JA

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Re: BitShares X vs emunie
« Reply #10 on: January 31, 2014, 11:26:49 PM »
Here's a video explanation of eMunie inflation.

More videos about eMunie here.

Might be a problem!
So a Hatcher is just a other form of Miner !?

It handles transactions and gets something for it


And AFAIK ! It is NOT open source ! WOOT ?
« Last Edit: January 31, 2014, 11:42:36 PM by jabbajabba »

 

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