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Offline BldSwtTrs

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Why don't create just an altcoin?
« on: August 06, 2014, 06:13:19 PM »

If one of Bitcoin weakness is scalability and if DPOS solves that issue, why don't release a DPOS coin that has the sole purpose to be a BTC competitor? That say, a coin which is useless besides that you can send and receive it.

I know you will tell me that it's logically better to add more features, but maybe less is more in this case. Maybe people will use DACs but not use them as money because they don't like the uncertainty linked to the viability of the business model of each DAC.

Or maybe people won't use DACs because of wathever flaw generated by the layer of complexity that DAC's additional features are bringing, but they would use a DPOS coin because it's scale better.
« Last Edit: August 06, 2014, 06:18:43 PM by BldSwtTrs »

sumantso

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Re: Why don't create just an altcoin?
« Reply #1 on: August 06, 2014, 09:15:11 PM »
If/When PTS gets converted to a DPoS coin, this will be the one. I would've preferred a merged PTS/AGS coin, but Stan and co are strictly against making AGS liquid.

Offline Riverhead

Re: Why don't create just an altcoin?
« Reply #2 on: August 06, 2014, 09:18:23 PM »
What you say about the adoption and risks are true.  It's how people felt about Bitcoin at first and then all the other AltCoins out there (some justifiably). Not trying something bold and new for fear that people might be afraid of it isn't the way to move this industry forward IMHO.

charleshoskinson

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Re: Why don't create just an altcoin?
« Reply #3 on: August 06, 2014, 10:38:05 PM »
Quote
If one of Bitcoin weakness is scalability and if DPOS solves that issue, why don't release a DPOS coin that has the sole purpose to be a BTC competitor? That say, a coin which is useless besides that you can send and receive it.

I know you will tell me that it's logically better to add more features, but maybe less is more in this case. Maybe people will use DACs but not use them as money because they don't like the uncertainty linked to the viability of the business model of each DAC.

Or maybe people won't use DACs because of wathever flaw generated by the layer of complexity that DAC's additional features are bringing, but they would use a DPOS coin because it's scale better.

DPOS combined with a lot of other technology could make a very attractive altcoin if distribution is handled correctly. My advice would be to honor the AGS,PTS and Bitcoin distribution and also add a small dev share that's locked via milestones. Proof of burn could be a good exodus to the new coin and you'd want to have a solid wallet on the first day for both the mobile and desktop space. Layering Codius would add smart contracts and one could also include a modified version of the counterparty protocol for rapid deployment of user issued assets alongside a one click bitshares blockchain spawner to issue cryptoequities.

Yes it's definitely possible to do this and someone will eventually do it.

bitbro

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Re: Why don't create just an altcoin?
« Reply #4 on: August 06, 2014, 11:12:22 PM »
You guys don't seem understand how impractical cryptocoins and volatility is..BitUSD or bust

Offline liondani

Re: Why don't create just an altcoin?
« Reply #5 on: August 06, 2014, 11:57:44 PM »
If/When PTS gets converted to a DPoS coin, this will be the one.

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Offline arhag

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Re: Why don't create just an altcoin?
« Reply #6 on: August 07, 2014, 02:43:33 AM »
You guys don't seem understand how impractical cryptocoins and volatility is..BitUSD or bust

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A currency should have price stability. I would also be interested in how something like BitCPI would work out.

Offline yellowecho

Re: Why don't create just an altcoin?
« Reply #7 on: August 07, 2014, 03:49:50 AM »
Quote
If one of Bitcoin weakness is scalability and if DPOS solves that issue, why don't release a DPOS coin that has the sole purpose to be a BTC competitor? That say, a coin which is useless besides that you can send and receive it.

Please correct me if I'm wrong but isn't that exactly what bitBTC is?  It's a delegated digital (financial) asset representing the value of BTC except it's far more efficient but equally as fungible?  If Bitshares is able to create a stable prediction market, bitBTC will be a serious competitor to BTC once it's tracked on Coinmarketcap and the like.
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bitbro

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Re: Why don't create just an altcoin?
« Reply #8 on: August 07, 2014, 04:02:42 AM »
But if bitbtc is truly successful it will show Btsx superiority, what do you think will happen then

Offline fuzzy

Re: Why don't create just an altcoin?
« Reply #9 on: August 07, 2014, 04:11:10 AM »
Quote
If one of Bitcoin weakness is scalability and if DPOS solves that issue, why don't release a DPOS coin that has the sole purpose to be a BTC competitor? That say, a coin which is useless besides that you can send and receive it.

Please correct me if I'm wrong but isn't that exactly what bitBTC is?  It's a delegated digital (financial) asset representing the value of BTC except it's far more efficient but equally as fungible?  If Bitshares is able to create a stable prediction market, bitBTC will be a serious competitor to BTC once it's tracked on Coinmarketcap and the like.

Makes sense...

You guys don't seem understand how impractical cryptocoins and volatility is..BitUSD or bust

BitUSD could be enforced if all DACs accepted bitUSD for payment of services.  Isn't this the best potential use case for incentivizing bitUSD?  Then the shares in other DACs would be converted into bitUSD, bitYuan, bitPeso...etc for quick use by a shareholder who wishes to use the services for a discount.  In this way, the bitUSD is essentially burned as soon as it is used for liquidity purposes and the services backing it would establish their own market value. 

Please give input as to where this is correct/incorrect.

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Offline yellowecho

Re: Why don't create just an altcoin?
« Reply #10 on: August 07, 2014, 02:56:49 PM »
BitUSD could be enforced if all DACs accepted bitUSD for payment of services.  Isn't this the best potential use case for incentivizing bitUSD?  Then the shares in other DACs would be converted into bitUSD, bitYuan, bitPeso...etc for quick use by a shareholder who wishes to use the services for a discount.  In this way, the bitUSD is essentially burned as soon as it is used for liquidity purposes and the services backing it would establish their own market value. 

Please give input as to where this is correct/incorrect.

This is a very interesting topic and I'd also like to hear others input.  It's my understanding that DACs wouldn't have to accept bitUSD because BitsharesX could do near instantaneous conversions.
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merockstar

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Re: Why don't create just an altcoin?
« Reply #11 on: August 07, 2014, 03:47:23 PM »
If/When PTS gets converted to a DPoS coin, this will be the one. I would've preferred a merged PTS/AGS coin, but Stan and co are strictly against making AGS liquid.

I don't understand the need for this. You're basically suggesting that every AGS be turned into a PTS, right?

So that would have three effects:

1) Dilute PTS supply, causing a price drop
2) Give devs less airdrop options
3) Make people able to to sell

Do you want out?

Offline xeroc

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Re: Why don't create just an altcoin?
« Reply #12 on: August 07, 2014, 04:00:19 PM »
AGS will never be made liquid .. period .. legal statement by Stan
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Offline Riverhead

Re: Why don't create just an altcoin?
« Reply #13 on: August 07, 2014, 04:14:25 PM »
Sound reasoning.  So AGS is like a public receipt.  Never thought about it that way.
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Offline xeroc

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Re: Why don't create just an altcoin?
« Reply #14 on: August 07, 2014, 05:22:52 PM »
Its always been a donation!! No payback nor refund!
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