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Messages - santaclause102

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2281
General Discussion / Re: and the Flash Crash award goes tooooooo:
« on: February 10, 2014, 11:53:28 pm »
 https://bitcointalk.org/index.php?topic=457546.0

maybe it's not over yet and btc is more vulnerable than assumed during price recovery...

2282
Is it possible that any of these explorers shows too little btc/pts compared to the actual donation amount?
Yes it is possible it did happen . If in doubt you have to check it on https://blockchain.info/ for BTC and https://coinplorer.com/ for PTS

and manually add them together?  ???

2283
Is it possible that any of these explorers shows too little btc/pts compared to the actual donation amount?

2284
Technical Support / Re: Investing now to live from dividends in 4 years
« on: February 10, 2014, 02:56:09 pm »
Government spending is taxation, period.   
> Government spending directly correlates either with taxation or with debt or both.

It benefits the bankers immediately when they can buy things for free (get something for nothing).  The usually buy real wealth producing assets.   
> A bank takes the risk of not being paid back when lending money. In the long term, if that risk would not be taken away by bail out guarantees lending money is a market with a normal profit expectation. In the current form you are right though. 

When the do this everyone else is immediately priced out.  Their dollars no longer purchase what they use to (nothing for something). 

No need to wait until the too big to bail failures for the people to be hurt. 


2285
General Discussion / Re: and the Flash Crash award goes tooooooo:
« on: February 10, 2014, 12:21:05 pm »
Also did you see the big pts dump at bet bter. Any reasons??

2287
Technical Support / Re: Investing now to live from dividends in 4 years
« on: February 10, 2014, 02:04:31 am »
Quote
Very simple rule, every time someone gets something for nothing, someone else gets nothing for something.  This is redistribution.   When the bankers create new money they get something for nothing, which means that somewhere someone is getting nothing for something. 
This only works out in favor of the banker long term when a bank(er) is too big to fail and is bailed out buy society (the tax payers). Too big to fail is ether dumb or would (if not bailed out) show that there is already too much debt in the system - debt between banks (just aksing myself if there is a structural difference to the debt governments and private individuals have). Solution would be to either educate people better to be more cautious which bank they entrust their money to or cut the fractional reserve system (mostly).

Quote
Second inflation causes misallocation of resources and economic miscalculation by business men.  This leads to destruction of wealth and losses in society which reduces the number of goods and services available and thus makes things more expensive for the poor.   
Agree that too high (edited) inflation is not good for economic prosperity in general.


Massive inflation normally happens when governments accumulate to much debt und start increasing the money supply.
This government debt can be tackled by higher taxes (which mostly effect the middle and lower class; the super rich don't have an income, they have interest they get on there capital and find ways to not pay taxes as much as the average guy),  economic growth and therefore higher tax income and by lowering government spending. Economic growth can not be achieved that easily when you have to save money as a government. But you can cut government spending and raise taxes which both hurts the middle class and the poor.
The other option is inflation or a debt cut (same effect) which more hurts the rich and less the poor (not not at all) because the above measures can be avoided.
The cycle of any capitalistic society, that always repeats itself, is that capital gets more and more centralized over time which in return means that debt grows equally with those that are not super rich. This debt is held by governments and by private individuals. From time to time the debt of the masses gets to big (to big in the sense of not being able to pay it back by higher taxes, cutting government spending, working harder/economic growth). The interest rates eat up all these efforts. Then inflation of some kind is inevitable and makes the field more leveled again and takes away the burden of the poor and average tax payer to work to serve the interest on the debt that the government holds for them as a whole or which they hold as private individuals. So inflation has a redistribution effect because the debt the masses have with the super rich is mostly gone.

Too tired to draw the conclusions for crypto currencies / bitshares.... Tomorrow again...
:)

 

2288
General Discussion / Re: Marketing Bounties to Spread Awareness
« on: February 10, 2014, 12:05:02 am »
I dont think peter schiff would like bitshares because it is not backed by physical gold. If you break down his desire for a crypto currency backed by gold it comes down to a digital bearer bond (colored coin) for gold...

Correct me if I'm wrong, but it seems like it'd be very easy to back BitGold with physical gold.  All it would take is a single seller of bullion to recognize Bitshares X as a legitimate banking institution and BitGold could be redeemed for physical metal at their establishment.  It would actually work in a similar manner as the ETF PHYS except it would be even more liquid since PHYS requires a very sizable amount in order to take delivery.  Or am I missing something?

Do you mean that a bullion seller would offer physical gold you can buy as BitGold and you have the option to have the physical gold delivered to you whenever to opt for that?

2289
http://www.enccoin.com/     This a the third one, you need to compare three and make your decision

this just shows the past...

2290
General Discussion / Re: Marketing Bounties to Spread Awareness
« on: February 09, 2014, 02:38:14 pm »
I think it wount be that dificult to understand bitshares when it is out and works.
I dont think peter schiff would like bitshares because it is not backed by physical gold. If you break down his desire for a crypto currency backed by gold it comes down to a digital bearer bond (colored coin) for gold...
Reggie Middleton is a great guy and will do very well explaining bitshares...



2291
BitShares AGS / Re: agsexplorer.com is out of sync again... FYI
« on: February 09, 2014, 02:22:53 pm »
http://angelshares.info/index.php is not out of sync, correct?

And any idea when http://www1.agsexplorer.com/# will work again?

angelshares.info appears to be working right now.
memory leak on this site

what does that mean?

2292
BitShares PTS / Re: "No block source available" error message
« on: February 09, 2014, 01:24:46 am »
I'm a little discouraged that I'm expected to add some code somewhere to make my wallet function correctly.
You guys are expecting mass adoption with that method?

I'm on a mac and I'm also getting a "No block source available" message.

if there's not a way for me to download an updated wallet that fixes this, I don't see how I'm going to have longterm faith in this project

PTS you need the wallet for is just the intermediary to get you a share in the products that are developed.
For me it solved by following the instructions on this thread and sometimes it just needs a bit of time to find source... 

2293
Technical Support / Re: Investing now to live from dividends in 4 years
« on: February 08, 2014, 01:02:59 pm »
Thank you, for now I plan to buy as many PTS/AGS as possible whenever I get paid my salary. This would be around $200 per month.

A little bit about me:

I left school and did not make any education because of psychological reasons. I never got paid more than $10 per hour and I am in my thirties. The stress of insecurity/ poverty is what I hope to overcome buy contributing to this movement.

One idea I would like to let you know:

I was thinking a lot about how to end poverty. My idea was, that if the banks, phone companies and others would give every person a mobile phone with a money app that always has at least $1 on it, it could work.

Participants of the network agree to get a certain percentage of their income automatically withdrawn by the program, which sends the small amounts to accounts that have less than $1. I always think about it as green lights (more than $1), and red lights (less than $1).

The program will make that all the lights are green and the people can go and buy some rice or anything else. It would withdraw it from so many people that the individual would not feel the missing money.

With the technology you are developing, it might be possible to make such a system. I hope.

We end poverty by giving the little guy an opportunity to save in non-inflationary currency that earns real interest.

I would disagree on that as the (really) poor don't have ANY savings. Most people on this planet buy food with the majority of what they earn or plant their foods themselves. Inflation would be good for them as it redistributes the money (in relative terms) that others made from capital intensive investments. But on the other side inflation makes economies inefficient which is bad for anyone again... 

edit: I meant to extreme inflation isnt god for an economy...

2294
Technical Support / Re: Confused...
« on: February 08, 2014, 12:49:35 pm »

I tried to find information about protoshares (PTS) and Bitshares (BTS? or PTS?).

1. Is bitshares a cryptocurrency like protoshares that you change trade in the exchanges or something else. If its a kind of cryptocurrency whats the point of protoshares anymore?
> Bitshares is the actual product. PTS gives you a stake in Bitshares after its release. PTS is a plain copy if bitcoin with some miner changes to the hashing algo. The whole goal of PTS is to distribute BTS in a fair way (not to many people have too much).

2. Is bitshares allready launched?
>No. It is planed to be launched 02/28.

3. It reads somewehere that if you have protoshares PTS when Bitshares is launched you get these Bitshares. How does this work. Does protoshares PTS change into Bitshares (are they basically the same thing but the name is changing and you get your share of bitshares by how many potoshares you have or something).
>No. You will have to claim your BTS with your PTS private keys. Make sure you have your PTS in a local wallet at launch date so you have access to your private keys...

4. Or do you get the bitshares and still keep the protoshares. And if this is the case how will you claim your bitshares.
>You get the BTS and still have the PTS. There will be a instruction for how to claim bts.

Basically im wondering what is the relation between protoshares and bitshares.
> see above :)

And i understand you can use these bitshares to "buy" for example bitBTC? Does this mean that i need to exchange the bitshares to bitBTC somehow or how does this actually work. I understand the altcoin trading simply that you buy for example dogecoin with bitcoin when its like 0,01BTC and sell when its 0,02 and you double your bitcoin investment that way, but i cant really understand this consept at all, even after reading some forum posts and invictus site info.
> You dont need to buy BitBTC! But you can do that if you want to either have your USD in digital form or if you bet that USD value increases compared to BTS value. Read more here https://bitsharestalk.org/index.php?topic=889.0 
This is another guide worth reading http://btcgeek.com/bitshares-guide/

Could somebody explain these in simple layman terms. I bet quite few understand the whole consept and there are many other altcoins to invest in that are way easier to understand.... If you want the price of protoshares to go up people need to understand the consept better and it needs to relatively easy. People are impatient and when there are plenty of alternatives its much more fun to invest in for example Dogecoin because of the funny dog face and lots of hype than in Protoshares with innovations that needs too much time to get into and understand even the basics...

Well im thinking of buying Protoshares PTS from an exchange but im confused about this bitshares thing. Does it replace protoshares or is it protoshares new name, or is it a whole new cryptocurrency and if so whats the point of protoshares any more after that.

Well thanks for the info, even if these questions might seem a bit stupid for the people who understand the consept...

> Look up the term value investing. You will see that it makes a lot more sense long term to do A LOT of research.

2295
General Discussion / Re: BitShares X Status Update
« on: February 08, 2014, 10:32:40 am »
Unfortunately today I spent on the phone with just about everyone on the team and thus didn't have any opportunity to write code.   I will be spending time with my kids this weekend so there will be little progress for the next 2 days.


Am I wrong to assume that bytemaster is the only person working on this project? If this is the case, why?

He is the main programer for btsx .

I understand that much. Question is: Is he the only programmer on btsx?

Arlen started 1 week ago and his first task is to help organize and hire more developers.  He has made great progress and we now have several people that are working on BitShares X on a trial per-task basis prior to committing to hiring full time.

why not make another more official announcement that i3 is looking for developers on btt. I made one for the bounties but that sounded less official than if you or stan or someone would do it... I mean an announcement less associated with the bounties but more with a long term engagement...


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