Author Topic: The Bitshares game haha  (Read 4230 times)

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Offline Riverhead

I get great satisfaction in converting rabid nonbelievers... NXT forum is ripe for that sort of conversion


Calm, respectful, and well reasoned explanations to some of their misconceptions by the BitShares community was very classy. It's nice to see that cooler heads prevailed and understood we are but neighboring tents in the same camp.


Offline donkeypong

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It would have to be an index of some sort. The cost of a Big Mac in the US will be much different than in say, Saudi Arabia.

Maybe an average price, which includes sampling of the mutton versions, etc. Or choose a few different regional locations and use them for a basket index.

Offline toast

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I get great satisfaction in converting rabid nonbelievers... NXT forum is ripe for that sort of conversion
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline Method-X

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BitMac. Tracking the value of a McDonalds Big Mac.

That might be the most brilliant suggestion I've heard for a new commodity measure. It's at least right up there with Thomas Friedman's Golden Arches Theory of Interdependence (no two countries with a McD's had ever attacked each other...1990s theory, so I don't know if it still holds). What's more tangible and trackable than the cost of a Big Mac?

It would have to be an index of some sort. The cost of a Big Mac in the US will be much different than in say, Saudi Arabia.

Offline tonyk

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Will someone post the following over there:

BitDouble was a theoretical thought experiment that Vitalik and discussed when he visited me in Virginia.  The result of a market setting the price is that it would sell at a premium necessary to compensate the "shorts" for the risk they were taking.   Ie: for someone to create BitDouble they would have to bet that the value of their collateral would grow faster than BitDouble.   Obviously everyone would want to own BitDouble so there would be demand to buy it above the peg and the resulting market would be a prediction market where the premium is proportional to expected difference between the real asset doubling relative to BTSX.

Now if it was a guaranteed 2x the growth of BTSX then it is a 100% probability of loss so no shorts would enter that market.  But if it was a 2x the dollar (ie: 100% interest) then some may be willing to short that if they thought BTSX would grow by 4x and they couldn't get a better deal elsewhere. 

BTSX doesn't do anything other than align incentives for market participants to trade near a peg.  It provides exposure to price movements and the ability to hedge.  The market hedges everything else.

Assuming spreads are less than credit card fees then it is as good as cash.
Done
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline bytemaster

Will someone post the following over there:

BitDouble was a theoretical thought experiment that Vitalik and I discussed when he visited me in Virginia.  The result of a market setting the price is that it would sell at a premium necessary to compensate the "shorts" for the risk they were taking.   Ie: for someone to create BitDouble they would have to bet that the value of their collateral would grow faster than BitDouble.   Obviously everyone would want to own BitDouble so there would be demand to buy it above the peg and the resulting market would be a prediction market where the premium is proportional to expected difference between the real asset doubling relative to BTSX.

Now if it was a guaranteed 2x the growth of BTSX then it is a 100% probability of loss so no shorts would enter that market.  But if it was a 2x the dollar (ie: 100% interest) then some may be willing to short that if they thought BTSX would grow by 4x and they couldn't get a better deal elsewhere. 

BTSX doesn't do anything other than align incentives for market participants to trade near a peg.  It provides exposure to price movements and the ability to hedge.  The market hedges everything else.

Assuming spreads are less than credit card fees then it is as good as cash.

« Last Edit: September 27, 2014, 12:30:05 am by Stan »
For the latest updates checkout my blog: http://bytemaster.bitshares.org
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Offline tonyk

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I'd like to draw the community to an important project at Nxt: https://nxtforum.org/index.php?topic=5588.0

Worth a nice laugh if nothing else. Maybe we should sic tonyk on them...

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I have more or less given up, as far as posting on their forums goes on the reminder of the NXT community...the smart ones are already here, imho.
Plus, I find enough material to use my teeth on here, as enough targets seem to be coming here themselves, from all over the place now (from BTC,NXT, NuBit... some even from the skies above)
« Last Edit: September 26, 2014, 09:33:59 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline donkeypong

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BitMac. Tracking the value of a McDonalds Big Mac.

That might be the most brilliant suggestion I've heard for a new commodity measure. It's at least right up there with Thomas Friedman's Golden Arches Theory of Interdependence (no two countries with a McD's had ever attacked each other...1990s theory, so I don't know if it still holds). What's more tangible and trackable than the cost of a Big Mac?

Offline matt608

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I would like to see Bitshares become a full blown commodity exchange with things like beef, coffee, wheat, corn, cocoa, etc.


Now that would be a sight to behold... :0

38PTSWarrior

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Good job toast, I am sure that many people who read your last post want to look into BitSharesX now.

Offline CoinHoarder

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I am fairly sure that I could buy some nice breasts with my BTSX :)...

BitBreast... tracks the value of breast implants :)

You could go for the real deal -> in some countries it is legal. Pricing per hour.

Just remember my motto, "If you can touch them, their real!"

Rofl. My motto is the opposite. "If you can't touch them they're probably real."

 :'( :'( :'(  :'(
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Offline CoinHoarder

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I would like to see Bitshares become a full blown commodity exchange with things like beef, coffee, wheat, corn, cocoa, etc.

This is the same guy that created the Bitshares is the great satan on a Blockchain thread right? I wonder why he's not pouncing on Nubits... I think these attacks are more out of spite/jealousy that BitsharesX passed them up on Coinmarketcap rather than based on the way BitsharesX functions, otherwise he would be attacking Nubits right now.
« Last Edit: September 26, 2014, 07:45:21 pm by CoinHoarder »
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Offline GaltReport

I am fairly sure that I could buy some nice breasts with my BTSX :)...

BitBreast... tracks the value of breast implants :)

You could go for the real deal -> in some countries it is legal. Pricing per hour.

Just remember my motto, "If you can touch them, their real!"

Offline Riverhead

If he was really clever he would have used a Hedgehog instead of a Marmot :D



Offline Mysto

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"If you need more quotes from stupid community members:

"BitShares literally wants to make the world their debt slaves" - toast
"BitShares is against equality and thinks some humans are better than others" - toast

The more strawmen you have the better IMO"
-toast


Haha toast went ham on them