Ok cool. I realised we'd dismissed it before but I thought it was because of the risk to the DAC and that MM would step in. I have yet to see many market makers and I think we can reduce the risk.

If people are confident the Bots are coming, great, because that will make a huge difference to BitAsset growth and our share price because we'll use the internal exchange instead of creating BTS selling pressure.

The plan is to reward it in CFSCOIN. It will not be liquid for a while but will gain its value from 30% of the income through a buy&burn bot that buys and reduces supply, increasing price.

Quote from: Method-X on February 17, 2015, 04:39:39 pm

Quote from: OldMan on February 17, 2015, 04:22:57 pm

Quote from: onceuponatime on February 17, 2015, 05:53:45 am

Quote from: OldMan on February 17, 2015, 05:32:22 am

Careful what you wish for.

I think Nurse Mary J would be good place to start...

Yes, very low hanging, lucrative fruit upon which to feed for the growth we require to become big and strong enough to tackle bigger things.

Seeking to openly support illegal commerce in controlled substances is perhaps not the most well-considered strategy for a fledgling technology.

However, the use case for drugs, porn and gambling is undeniable.

So why not go after the legal drug market in Colorado etc., where they are openly seeking banking solutions, and strike out into porn and gambling?

Seems to be a lot of low fruit before we need to knock boots with the dark side.

I understand what you're saying but what is your practical strategy for achieving this? It's one thing to say "go after marijuana dispensaries" and another thing entirely to lay out a blueprint that will make it happen. There are certain prerequisites needing fulfillment before we can effectively move to larger markets. For example, bitUSD liquidity is a BIG obstacle holding back functionality. We have to be realistic about where our technology is currently useful vs. where it will be useful in the future. Building momentum and network effect means starting small and probably in areas most would consider politically incorrect. Bitcoin would have died in obscurity if it weren't for the original Silk Road; indeed dark markets remain Bitcoins primary use case outside speculative investing.

From darkness cometh light.

I'm not sure the strategy/blueprint for the legitimate controlled substance market is any different than the strategy for the illegitimate controlled substance market; the target demographic is similar but on a smaller scale. The real difference is the risk proposition.

Both the darknets and med pot have a banking problem for which bitUSD is a near-perfect solution. However, aiding, abetting and otherwise enabling darknet commerce (and while I agree 100% on generic medication, let's not forget for one moment that darknet commerce includes weapons, prostitution, child porn and basically everything humanity has declared unfit for public consumption) creates a huge tail risk for the entire Bitshares ecosystem.

The medical pot industry, on the other hand, is quasi-legal and organized to the point of attempting to form a legitimate credit union. Aiding med pot commerce carries far less risk of being associated with dealers, pimps and pedophiles. Additionally, the amount of money floating around med pot, as well as the astronomical growth rate of the industry, makes the risk/reward ratio very attractive.

A similar case could be made for the porn and gambling industries. The low fees and instant confirmation of bitUSD is absolutely perfect for cam girls, custom porn, single serving sales, betting, poker, blackjack, etc. etc.

As to a blue print I would suggest:

- Finding a willing advocate on the ground in Colorado, preferably someone involved in the credit union project or a community/forum leader with good rep, and pay them a stipend from the delegate pool to lobby for bitUSD adoption from within the community.

- Put ads on every medical pot forum - growers, retailers, users.

- Systematically target retailers for bitUSD integration. This is cold call work - literally call them up, ask for the owner and give them an elevator pitch. Email them a starter pack with a few bitUSD and point them to the BTS store to try it out.

- Have the advocate attend industry events, meets, etc. and hand out flyers. Work towards setting up a booth.

- Have the advocate visit retailers and ask to pay with bitUSD.

Etc.

For porn, get a delegate whose only job is to hit up cam girls and porn production companies. Pay cam girls in bitUSD. Order some custom porn. It's a tight industry and word will spread fast. Folks will only need to use bitUSD once to be sold, and they will tell their friends...

If we got med pot and even a small fraction of the porn industry on board Bitshares would have a moon run, at which point delegate pay would be enough to really put some muscle behind the marketing machine.

TL;DR:

1. Med pot

2. Porn

3. Mainstream

This can happen to any of us, anytime, with any currency. I wish them the best.