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Offline Raman Student

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BTS X for the people?
« on: September 14, 2014, 10:50:26 AM »

I have read quite a lot about BTS X and it seems to be quite interesting but there are a few question left for me:
Is BTS X rather just for investors who want to make profit or also for simple people? I mean will there be merchants in the future that accept BTS X? Is BitShares rather like an asset/share or do you see it as a currency? Would you say that BTS X is as decentralized as e.g. NXT?

kind regards. :)

38PTSWarrior

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Re: BTS X for the people?
« Reply #1 on: September 14, 2014, 11:00:56 AM »
They can somehow write a price in bitUSD, like 2.99 for a cold six pack of beer. So it's cryptocurrency without the price fluctuations. There will come the music DAC, there people can use bitUSD for payments. BTSX is for buying now and holding. I think to have btsx means, to own a part of the bank/exchange. Welcome!

Offline Raman Student

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Re: BTS X for the people?
« Reply #2 on: September 14, 2014, 11:02:17 AM »
Thanks for the answer.
Is there another trustworthy source to download the wallet?
Link on homepage is dead: http://bitshares-x.info/files/wallet/0.4.14/BitSharesX-v0.4.14.exe

38PTSWarrior

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Re: BTS X for the people?
« Reply #3 on: September 14, 2014, 11:05:20 AM »
You can go to http://dacsunlimited.com, bytermaster said that he trusts it.

Offline robrigo

Re: BTS X for the people?
« Reply #4 on: September 14, 2014, 12:10:48 PM »
Thanks for the answer.
Is there another trustworthy source to download the wallet?
Link on homepage is dead: http://bitshares-x.info/files/wallet/0.4.14/BitSharesX-v0.4.14.exe

Also here is the direct link to the releases page: https://github.com/dacsunlimited/bitsharesx/releases

Offline yellowecho

Re: BTS X for the people?
« Reply #5 on: September 14, 2014, 02:40:43 PM »
Is BTS X rather just for investors who want to make profit or also for simple people? I mean will there be merchants in the future that accept BTS X?

I definitely see BitSharesX as a DAC for the people.  Merchants could accept BTSX for payment but bitUSD would likely be a better option for most... though if I was a gold dealer though I'd prefer to be paid in bitGLD because then I could just set my prices to be 1 bitGLD + 4% premium for delivery. 

Is BitShares rather like an asset/share or do you see it as a currency? Would you say that BTS X is as decentralized as e.g. NXT?

BTSX is a share (stock) in the company BitSharesX but unlike common stocks it's extremely liquid and can be used as a currency or as collateral for purchasing digital-property like bitAssets (bitUSD, bitGLD, etc).  BitShares is every bit as decentralized as NXT... though I think it's important to define terms.  What particulars are you interested in?
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Offline Raman Student

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Re: BTS X for the people?
« Reply #6 on: September 14, 2014, 04:07:45 PM »
Is BTS X rather just for investors who want to make profit or also for simple people? I mean will there be merchants in the future that accept BTS X?

I definitely see BitSharesX as a DAC for the people.  Merchants could accept BTSX for payment but bitUSD would likely be a better option for most... though if I was a gold dealer though I'd prefer to be paid in bitGLD because then I could just set my prices to be 1 bitGLD + 4% premium for delivery. 

Is BitShares rather like an asset/share or do you see it as a currency? Would you say that BTS X is as decentralized as e.g. NXT?

BTSX is a share (stock) in the company BitSharesX but unlike common stocks it's extremely liquid and can be used as a currency or as collateral for purchasing digital-property like bitAssets (bitUSD, bitGLD, etc).  BitShares is every bit as decentralized as NXT... though I think it's important to define terms.  What particulars are you interested in?

I have not that much technical knowledge but the term 'dac unlimited' confused me because it sounds like bitshares would be a company which I have to trust. So I'm not that interested in the details but it is for me very important that Bitshares is such decentralized that the government, intelligence agencies or other rich and powerful groups can shut Bitshares down. For me that's still the most important concept about crypto.

38PTSWarrior

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Re: BTS X for the people?
« Reply #7 on: September 14, 2014, 04:59:27 PM »
A while ago there was no company, only people who want what you want. The companies are necessary because of the law and now the people see the companies and the users as different people, but I think that we are all the same with the same goals, peace, prosperity and freedom

Offline yellowecho

Re: BTS X for the people?
« Reply #8 on: September 14, 2014, 05:48:58 PM »
I have not that much technical knowledge but the term 'dac unlimited' confused me because it sounds like bitshares would be a company which I have to trust. So I'm not that interested in the details but it is for me very important that Bitshares is such decentralized that the government, intelligence agencies or other rich and powerful groups can shut Bitshares down. For me that's still the most important concept about crypto.

BitShares is the brand for the ecosystem of decentralized autonomous companies (DACs)... these DACs cannot be shut down by a governments, agencies, etc.

As for DACSUnlimited, they're just a trusted independent company out of Hong Kong that releases the software.  The software is mostly developed out of Virginia, US along with other devs from around the world but I think the strategy is to actually release the software outside the country where regulations are looser and more friendly.  I'm sure once BitSharesDNS hits the scene the software will also be released on a decentralized namespace further ensuring governments and agencies can't shut them down.
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Offline Raman Student

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Re: BTS X for the people?
« Reply #9 on: September 14, 2014, 09:18:28 PM »
Thanks for your answers. In the meantime I got another question regarding voting: I can approve delegates but how do I know that they are worth to approve?

Offline yellowecho

Re: BTS X for the people?
« Reply #10 on: September 14, 2014, 10:19:55 PM »
You can read about many of them in the delegate board:  https://bitsharestalk.org/index.php?board=61.0

Most of the delegates are long time posters, devs, exchanges, etc. that contribute to the development and people trust.  I think in the future it will become much more strategic such as voting in delegates that use their earnings for big marketing pushes or charity.  Really as long as the delegates remain reliable and upgrade software and maintain feeds it doesn't matter who they are.. but like I said I think this will change in time.
696c6f766562726f776e696573

 

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