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Offline Count of La Mancha

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What if..
« on: September 27, 2014, 08:08:18 PM »

What if someone decided to invest $30 million dollars to build infrastructure for a clone of BTSX and didn't honor AGS/PTS/X holders?
What if someone built a better wallet, a phone app, and had multiple gateway partners?
What if it isn't technology that mattered but network effect and partners?
What if the technology behind BTSX wins the day but another chain gains the network effect?
What if BTSX could do that first?
What if BTSX could invest $30 million dollars to do these things?
What if BTSX couldn't?
What if the BTSX development team could be 10 x larger? 
What if....



Offline bitmeat

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Re: What if..
« Reply #1 on: September 27, 2014, 08:23:24 PM »
Here is how I would approach it - dropshare on all BTC holders their hodling in BitBTC.

Then let the market figure it out. No need to do initial supply/funding, the network effect will be from BTC holders figuring it out.

Offline bytemaster

Re: What if..
« Reply #2 on: September 27, 2014, 08:31:37 PM »
Here is how I would approach it - dropshare on all BTC holders their hodling in BitBTC.

Then let the market figure it out. No need to do initial supply/funding, the network effect will be from BTC holders figuring it out.

That wouldn't do anything because no new capital came into the game... it would be DOA and have no partners, etc.   
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Offline CoinHoarder

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Re: What if..
« Reply #3 on: September 27, 2014, 08:32:19 PM »
You can worry yourself to death with what ifs and live in fantasy land, or you can do the best with what you have and live in reality. BTSX already has a network effect. Sure if a huge company came along they could probably crush us, but the longer BitsharesX is around getting press, gaining more users, gaining value, and improving upon itself the less likely that is to happen. Supposedly I3/dacsun is about to start a big marketing push, so I wouldn't worry about it too much as we are gaining network effect every day and it is about to be greatly accelerated.

Offline matt608

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Re: What if..
« Reply #4 on: September 27, 2014, 09:05:51 PM »
I was thinking the other night that once the client is stable no amount of marketing will be too much. 

The scope of what Bitshares-X can potentially do is staggering. 

I think we need to 'attack' as many of the potential markets as possible with an army of marketers. 

We need to attack the forex market to encourage trade of bitcurrencies, all the major world currencies are targets.  Then there's the gold + silver markets for bitGLD + bitSLV, and every large commodity market such as  Oil, gas, food commodities such as wheat, corn, bananas, cocoa, hemp, you name it (market research for listing the largest markets is obviously essential, I have no idea which are largest).  We need marketers targeted at all these markets and more.

I'm not on the official team and have no idea what is planned and I don't know the inner workings of the team and I'm confident whatever it is will be great. However, more will definitely be better.

I would guess that if the team leaders got behind a community/stakeholder driven marketing funding to raise say $500k or more people would chip in and it could be done without too much difficulty.  I myself would donate a few thousand BTSX right away, 10K if enough others did too.  The increased confidence caused by raising a nice fat *extra* marketing fund would result in more buying quickly replenishing the market cap.

I'm not sure how many full time professional marketers we actually have, is it just one? 

My thinking is probably premature as I don't know what's coming and I could be a bit off on the target markets as I'm still learning about Bitshares-X, but I thought I'd just throw this idea out there.

« Last Edit: September 27, 2014, 09:29:48 PM by matt608 »

Offline Akado

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Re: What if..
« Reply #5 on: September 27, 2014, 09:27:18 PM »
and every large commodity market such as  Oil, gas, food commodities such as wheat, corn, bananas, cocoa, hemp, you name it

I was wondering if in the future this would be possible and useful. Having BitAssets like natural resources (minerals like coal or salt, wood,  etc). Would this be viable? Would there be a need for this in the future? (Assuming everything goes well till then)
« Last Edit: September 27, 2014, 09:28:55 PM by Akado »
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Offline carpet ride

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Re: What if..
« Reply #6 on: September 27, 2014, 11:54:50 PM »
BM, how much could BTSX benefit from more resources? (Assume there is not a clone with 30MM waiting in the wings)


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Offline johncitizen

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Re: What if..
« Reply #7 on: September 28, 2014, 03:08:20 AM »
Sounds good and the what if can be exciting to play. Anybody is free to fork our network at any time. They can't fork Bytemaster and our super duper dev team, the community, industry partners and surrounding infrastructure. Our community and dev team is irreplaceable.

You can have the best product or technology in the world but without the correct marketing, never get anywhere. Media is crucial. We already have the worlds best technology (so biased but true) and are yet to engage media campaigns.








Offline bitmeat

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Re: What if..
« Reply #8 on: September 28, 2014, 03:11:02 AM »
You can have the best product or technology in the world but without the correct marketing, never get anywhere. Media is crucial. We already have the worlds best technology (so biased but true) and are yet to engage media campaigns.

I disagree. Bitcoin had 0 marketing. Game changers can grow without marketing.

Offline Method-X

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Re: What if..
« Reply #9 on: September 28, 2014, 03:43:10 AM »
You can have the best product or technology in the world but without the correct marketing, never get anywhere. Media is crucial. We already have the worlds best technology (so biased but true) and are yet to engage media campaigns.

I disagree. Bitcoin had 0 marketing. Game changers can grow without marketing.

Yes but they need to be properly seeded within the collective unconscious. Sometimes this happens by accident, other times it's on purpose.

Offline ripplexiaoshan

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Re: What if..
« Reply #10 on: September 28, 2014, 03:49:31 AM »
Here is how I would approach it - dropshare on all BTC holders their hodling in BitBTC.

Then let the market figure it out. No need to do initial supply/funding, the network effect will be from BTC holders figuring it out.

That wouldn't do anything because no new capital came into the game... it would be DOA and have no partners, etc.

Agree. We need to attract more eyes from the outside of crypto currency, instead of old BTCer...
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Offline carpet ride

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Re: What if..
« Reply #11 on: September 28, 2014, 03:55:40 AM »
I just listened to the most recent Beyond Bitcoin mumble session  +5%

And I think the OP's comment relates to the point Dan made about upgrading the BTS toolkit to allow the DAC to issue shares, which as a result would allow the DAC to raise capital for development and marketing.  It would cause some degree of inflation, which some investors may see as an issue.

After hearing Bytemaster talk thru the implementation and the benefits it could provide, I think it's clear that the strongest possible DAC is one that can issue shares to raise capital if the shareholders vote to determine that it is the best course of action.

One reason this would lead to a strongest possible DAC ties right into the OP.  DACs need money - an outside party with 30MM might be a threat to current BTSX implementation, but it would be much less of a threat if BTSX could issue shares to raise money to hire more developers and marketers, which would allow BTSX to combat competition.

Sorry if any typos -- too late in the evening to read thru ..
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Offline johncitizen

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Re: What if..
« Reply #12 on: September 28, 2014, 04:25:21 AM »
You can have the best product or technology in the world but without the correct marketing, never get anywhere. Media is crucial. We already have the worlds best technology (so biased but true) and are yet to engage media campaigns.

I disagree. Bitcoin had 0 marketing. Game changers can grow without marketing.

Bitcoin had enormous organic marketing from cypherpunks, hackers and crypto anarchists. Everyone talking and sharing this wonderful new idea. The silkroad was the catalyst for media coverage, the headlines were global. Wild volatility, digital gold, dark markets, hacking and assassination plots. Better than a bond movie. Headlines have matured into news about Paypal, Overstock, Ebay, RBA, PBOC, etc.

Bitshares is a game changer but we cant expect the worlds media to carry us to the spotlight



Offline donkeypong

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Re: What if..
« Reply #13 on: September 28, 2014, 04:53:07 AM »
Why do I get the feeling that we might be about to find out how I3 would have handled the PTS and AGS fundraisers differently (if they knew then what they know now)? I'm not sure how many developers are optimal to have on the team, etc., but it may be smart to create a way to fund ongoing development and DAC maintenance.

Offline Method-X

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Re: What if..
« Reply #14 on: September 28, 2014, 05:14:01 AM »
Why do I get the feeling that we might be about to find out how I3 would have handled the PTS and AGS fundraisers differently (if they knew then what they know now)? I'm not sure how many developers are optimal to have on the team, etc., but it may be smart to create a way to fund ongoing development and DAC maintenance.

I've had the idea of "Market Mining" for awhile now. Basically it's like mining with your GPU for bitcoin, only instead of buying security you're buying advertising. The more customers you refer to the DAC, the more shares in the DAC you get. This can be done with fees or it can be done with inflation.

Advertising brings users and a user base is what gives shares value.

Advertising > Users > Share value

If someone were to fork BitShares X and allocate 80% to market mining, they would end up with a much larger user base.

 

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