Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: BitNu - Funding BTSX without Inflation...  (Read 1990 times)

0 Members and 1 Guest are viewing this topic.

Offline bytemaster

BitNu - Funding BTSX without Inflation...
« on: October 02, 2014, 04:59:23 PM »

There is much to be learned by all of the new coins coming out...  maintaining an open mind, being quick to adapt *good* ideas and learning from other's mistakes is what we need.

I was thinking about launching "BitNu" using the same design as NuBits... the delegates would publish an interest rate that all BitNu holders would receive and the delegates could print as much BitNu as they could get shareholder approval to do.   This could be a great way to ponzi fund DAC development while we simultaneously warn people about the risks associated with joining the Ponzi and that participation in the Ponzi is "for fun only" and is a "gamble" in a decentralized musical chairs. 

The delegates would of course have financial incentive not to crash the Ponzi because it is being used to fund development... once the Ponzi crashed then development would have to continue by some other means.... but at least it wouldn't be a scam if everyone was aware of the Ponzi nature of the system to begin with and were taking a gamble on the interest rate. 

By offering such a system it would sap the energy out of NuBits believers by providing a more open, transparent, alternative to NuShares *AND* bring awareness of the Ponzi to the wider market.  If it happens to work for a "long time" and can reach a critical mass then who knows...


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 Method-X

  • Hero Member
  • *****
  • Posts: 1131
  • VIRAL
    • View Profile
    • Learn to code
  • BTS: methodx
Re: BitNu - Funding BTSX without Inflation...
« Reply #1 on: October 02, 2014, 05:07:37 PM »
You just need to market BitUSD better than NuBits. Focus your energy on that.

Offline bytemaster

Re: BitNu - Funding BTSX without Inflation...
« Reply #2 on: October 02, 2014, 05:09:25 PM »
You just need to market BitUSD better than NuBits. Focus your energy on that.

I agree... BitUSD marketing and building partnerships is where we are focusing at Vegas and beyond.
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 liondani

Re: BitNu - Funding BTSX without Inflation...
« Reply #3 on: October 02, 2014, 05:16:50 PM »
that is the definition of "levelling" ... for  poker players...
You are really playing you A-game  ;D
  https://bitshares.OPENLEDGER.info/?r=GREECE  | You are in Control | BUY | SELL | SHORT | SWAP | LOAN | TRADE |  

Offline Mysto

  • Sr. Member
  • ****
  • Posts: 382
    • View Profile
Re: BitNu - Funding BTSX without Inflation...
« Reply #4 on: October 02, 2014, 05:17:25 PM »
I think this is a bad idea...
We should try to stay as far away from the word "Ponzi" as possible. I think this could easily be spun in a way to make it seem like bitshares is the ponzi scheme or it supports ponzi schemes or something like that.

Offline toast

Re: BitNu - Funding BTSX without Inflation...
« Reply #5 on: October 02, 2014, 05:20:56 PM »
Don't do this...
« Last Edit: October 02, 2014, 05:25:44 PM by toast »
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 nomoreheroes7

Re: BitNu - Funding BTSX without Inflation...
« Reply #6 on: October 02, 2014, 05:23:43 PM »
I think this is a bad idea...
We should try to stay as far away from the word "Ponzi" as possible. I think this could easily be spun in a way to make it seem like bitshares is the ponzi scheme or it supports ponzi schemes or something like that.

Agreed 100%. Not worth the negative stigma of the word Ponzi, no matter how you spin it.

Offline Chuckone

  • Sr. Member
  • ****
  • Posts: 313
    • View Profile
Re: BitNu - Funding BTSX without Inflation...
« Reply #7 on: October 02, 2014, 05:24:53 PM »
I think this is a bad idea...
We should try to stay as far away from the word "Ponzi" as possible. I think this could easily be spun in a way to make it seem like bitshares is the ponzi scheme or it supports ponzi schemes or something like that.

Doing this will give detractors all the ammunition they need to spin this against Bitshares. In the public perception, even if it isn't true, it doesn't matter. What matters is what "appears" to be true and what they heard about it. And it's enough to cost serious credibility points to the Bitshares ecosystem.

Offline Ander

  • Hero Member
  • *****
  • Posts: 3507
    • View Profile
  • BTS: Ander
Re: BitNu - Funding BTSX without Inflation...
« Reply #8 on: October 02, 2014, 05:26:25 PM »
Seems like a really bad idea.

We dont want bitshares to be thought of as "those guys who ran the admitted ponzi scheme". 
We dont want everyone to think "clearly NuBits was better, since bitshares had to copy it". 
We dont want to seem like we are just obsessed with NuBits, instead of working on improving bitshares features.


Lets focus on increasing demand for bitUSD instead.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline feedthemcake

  • Full Member
  • ***
  • Posts: 156
    • View Profile
Re: BitNu - Funding BTSX without Inflation...
« Reply #9 on: October 02, 2014, 05:34:00 PM »
:-[  No one seems to realize this is BM's joke .......Just to make fun of Nubits.

 +5%

..I think.

Offline bytemaster

Re: BitNu - Funding BTSX without Inflation...
« Reply #10 on: October 02, 2014, 05:37:38 PM »
:-[  No one seems to realize this is BM's joke .......Just to make fun of Nubits.

 +5%

..I think.

Yes... it was a huge joke... to highlight both how easy it would be to do and how clearly it is a ponzi. 

Though in a world that was more open minded and less prone to mud slinging it would be "fun" as a game only...  clearly not a solid business plan given the nature of the world we live in.

 
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 xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12242
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BTS: xeroc
  • GitHub: xeroc
Re: BitNu - Funding BTSX without Inflation...
« Reply #11 on: October 02, 2014, 05:39:57 PM »
:-[  No one seems to realize this is BM's joke .......Just to make fun of Nubits.

 +5%

..I think.

Yes... it was a huge joke... to highlight both how easy it would be to do and how clearly it is a ponzi. 

Though in a world that was more open minded and less prone to mud slinging it would be "fun" as a game only...  clearly not a solid business plan given the nature of the world we live in.

So HackFisher can add this to BitShares PLAY then :)
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline feedthemcake

  • Full Member
  • ***
  • Posts: 156
    • View Profile
Re: BitNu - Funding BTSX without Inflation...
« Reply #12 on: October 02, 2014, 05:45:28 PM »
:-[  No one seems to realize this is BM's joke .......Just to make fun of Nubits.

 +5%

..I think.

Yes... it was a huge joke... to highlight both how easy it would be to do and how clearly it is a ponzi. 

Though in a world that was more open minded and less prone to mud slinging it would be "fun" as a game only...  clearly not a solid business plan given the nature of the world we live in.

We will follow you...but not blindly bytemaster!

Offline liondani

Re: BitNu - Funding BTSX without Inflation...
« Reply #13 on: October 02, 2014, 05:59:27 PM »
that is the definition of "levelling" ... for  poker players...
You are really playing you A-game  ;D

Yes... it was a huge joke... to highlight both how easy it would be to do and how clearly it is a ponzi. 
Though in a world that was more open minded and less prone to mud slinging it would be "fun" as a game only...  clearly not a solid business plan given the nature of the world we live in.



...your "opponents" will eventually tilt when you show all your bluffs  :P

« Last Edit: October 02, 2014, 06:01:21 PM by liondani »
  https://bitshares.OPENLEDGER.info/?r=GREECE  | You are in Control | BUY | SELL | SHORT | SWAP | LOAN | TRADE |  

Offline Empirical1.1

  • Hero Member
  • *****
  • Posts: 886
    • View Profile
Re: BitNu - Funding BTSX without Inflation...
« Reply #14 on: October 02, 2014, 06:04:35 PM »
Without going into what a terrible idea it would be and also being uncertain how much of the original post was a joke...

As far as NuBits is concerned.

1. $2 million of their $2.24 million valuation isn't actual demand they started with that amount, so their valuation is a bit misleading.

2. Why do they get a listing on CMC on the main page?
We really should get BitUSD on the main CMC page.

3. A couple of other things need to be in place too perhaps (more stable client & decentralised voting) but as soon as this is implemented https://bitsharestalk.org/index.php?topic=9520.msg124582#msg124582 it will be very interesting to see how much interest BitUSD can bring to bear in a fully backed, decentralised system, and whether a ponzi NuBits can compete.

(Very important to be on CMC main page if they are though - According to Alexa.com, BitShares-X.info gets it's most upstream visitors from CMC by far >30%.

The asset page though is viewed MUCH less. So we put ourselves at a big advertising disadvantage if not on the main CMC page and other pegged assets are.)

« Last Edit: October 02, 2014, 06:49:52 PM by Empirical1.1 »

 

Google+