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Messages - luckybit

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316
General Discussion / Re: Dump Poloniex, use OPENBTC
« on: November 05, 2015, 01:10:43 am »
Lots of you have gone into Bitcoin to take advantage of its recent rally. So when you want to go back to trading BTS, why are you still using Poloniex's ledger and paying them fees, when you could support the blockchain instead?

Here you go:
https://bitshares.openledger.info/#/market/BTS_OPENBTC

When you bring your BTC over to Openledger, BTS will naturally get traded on the blockchain too, thereby ending up in stronger hands.

What is OpenBTC?

317
General Discussion / Re: Wow. That was a shitty day for bitshares
« on: November 04, 2015, 10:38:59 pm »
Part of it. UIAs could do it right now without the bond market though. What stops a UIA from paying dividends?

Quote
Transaction fees. Thats why we went for buy back instead of dividends.
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Becoming a security is what stops it I thought. Then becoming subject to all kinds of regulatory issues. Transaction fees might be an issue also.

The laws just changed on that. It's now a possible route to follow the new legislation and become a security. It's also tax free in Europe so it's actually a good time and legally the landscape is now in favor of securities on Bitshares.

While I'm not a lawyer and don't know all the paperwork, I know it is now possible to start down that path. Equity crowd funding is now realistic. Although in the case of Metaexchange it might not actually be desirable because that is an all crypto exchange.

https://bitsharestalk.org/index.php/topic,19607.0.html

318
General Discussion / Re: Wow. That was a shitty day for bitshares
« on: November 04, 2015, 10:33:31 pm »
So Bond markets is our answer?
Part of it. UIAs could do it right now without the bond market though. What stops a UIA from paying dividends?

Nothing.  What stops a UIA from not even looking like a UIA and paying 'rewards points' to customers?

And that is what we need. People want financial independence. Freedom is a vague concept while financial independence is practical, you can touch it, it is quantifiable, it's real.

319
General Discussion / Re: Wow. That was a shitty day for bitshares
« on: November 04, 2015, 10:31:04 pm »

Transaction fees. Thats why we went for buy back instead of dividends.
Buyback still is fine but if transactions fees are an issue then how will the bond market work?

320
General Discussion / Re: IRC/telegram as a trollbox?
« on: November 04, 2015, 10:23:44 pm »
Yeah fine. But it needs to be optional, some way to turn it off in preferences. I hate the damned things myself.

Just look at the Mockup. It should be a pull out tab where only people who want to see it can see it at all times. Just like we can have a chatbox already in the main site which is optional why can't we have a trollbox?

On the main OpenLedger site they use Tawk.to yet for the Exchange people are worried about security? I don't get it. If there is a security issue using javascript then it would already be an issue and no I don't think we should delay implementation in order to do a fancy technical blockchain based version.

We should just throw any trollbox together temporarily, as quickly as possible, and then when the technically advanced version is ready we can simply swap it out for the updated one. What do you think every other exchange website would do in this situation?

321
Yeah, okay. Well, THAT's a trading engine, isn't it? So I guess that's what our GUI needs to look like if we're going to attract serious traders?

No, we don't need that GUI. BTC-E is compatible with it but most people don't use it.
I would say you just need a sufficient GUI which right now we don't have yet. We don't even have a troll box yet.

322
General Discussion / Re: IRC/telegram as a trollbox?
« on: November 04, 2015, 09:02:53 pm »
I've traded for years and the trollbox is good for realtime info,  this forum is too slow for sharing trading info, even if its fud it still helps build the community.

Can somebody quickly knock up a website that iframes a troll box on the right side and openledger on the left.

even if its just polos troll box



https://github.com/cryptonomex/graphene-ui/issues/405

I'd certainly like to put one in but we need to find a safe way of doing it.

What do you mean by safe? I don't see what safety risk you have from IRC that you don't have already.

Btw, the mock up that he put up is exactly where the troll box ought to be placed. That is exactly how it ought to look and it doesn't even have to be fancy at first.

323
General Discussion / Re: Wow. That was a shitty day for bitshares
« on: November 04, 2015, 04:32:50 pm »
So Bond markets is our answer?
Part of it. UIAs could do it right now without the bond market though. What stops a UIA from paying dividends?

324
General Discussion / Re: Wow. That was a shitty day for bitshares
« on: November 04, 2015, 04:30:43 pm »
5-10% yield possible through Bond markets?   How much does polonieux offer?

Sometimes yield can be as high as 12% a year in some markets so it's a matter of letting people offer yield, and offer UIAs which offer the kinds of yields, dividends and other attractors which bring people in. I don't know if polonieux offers any yield at all but if Bitshares has yield then it can attract liquidity.

Bees are attracted to flower pollen. The best advertisement is successful investors.

325
General Discussion / Re: Wow. That was a shitty day for bitshares
« on: November 04, 2015, 04:19:11 pm »

Yes, I agree. For merchants it is a big deal.
But for me, the consumer, only the freedom part is the big deal.

And that is not bad news. If only 3-5% of online consumers do care about freedom - we are in a big business. Much bigger than bitcoin is now.

I agree, the freedom part is important.

but for me as consumer it's far more interesting to save 5-10% on a product.

5-10% annual yield is the best marketing Bitshares 2.0 can have. Find some Bitasset which is giving 5-10% annual yield or interest and Bitshares will become trivially easy to market at that point. Simply set up a blog showing step by step how you're gaining 5-10% in annual yield through Bitshares in a way which is of low risk and suddenly millions of dollars will flow into Bitshares.

Asset producers, and people planning to start businesses, you should consider going the route of equity crowd funding. Think about how you can actually use Bitshares in the launch of your new business, and how you can distribute equity to the Bitshares community so that you promote the success of Bitshares.

Decentralized equity crowd funding is as big as Open Bazaar. Bitshares 2.0 has the technical capability to issue legally recognized equity crowd funding opportunities. Tokens can be put out as UIAs, which can then later be redeemed for actual shares in companies. That bridge feature is big and important enough that you could bring billions of dollars into Bitshares just through that.

In times of adversity the community should pull itself together by distributing greater stakes. Shared stake is a mechanism which can pull people together through shared self interest. Keep the current community from splitting or members from leaving by offering enough perks and enough equity that their dreams of financial independence outweigh the fear of missing out on the rise of Bitcoin, some stock, or some altcoin.

Bitshares makes it trivially easy to interconnect a community through equity stake. Use the power of Bitshares and do not sell your stash so quickly because you could regret it as the people who sold their Bitcoins probably regret it.

326
General Discussion / Re: Wow. That was a shitty day for bitshares
« on: November 04, 2015, 04:13:25 pm »

Yes, I agree. For merchants it is a big deal.
But for me, the consumer, only the freedom part is the big deal.

And that is not bad news. If only 3-5% of online consumers do care about freedom - we are in a big business. Much bigger than bitcoin is now.

I agree, the freedom part is important.

but for me as consumer it's far more interesting to save 5-10% on a product.

You're not interested in equity crowd funding? In achieving financial independence for yourself and your family?

If you cannot sustain yourself without employment then you're not financially independent. If you're able to get a few thousand $ a month from the blockchain then you're financially independent. Bitshares is the one blockchain which can offer this as a feature, the feature is the ability to achieve financial independence indirectly, not through features of Bitshares or the Bitshares price rise, but through holding the proper portfolio of UIAs, private assets, smart coins, bonds, etc, or by being a referrer, a witness, etc.

As you see, the people who work hard, or who work smart, or who invest wisely, can have a chance to achieve the new American dream of financial independence facilitated by blockchain technology. Bitshares should be marketed to people who want to be digital nomads, who want financial independence, who want to work directly for a blockchain.

Avoid politics, avoid vague words like freedom, avoid dividing people by talking about libertarian ideals, or crypto-anarchism, or Bytemasters master plan. People want to achieve similar goals, we all have similar dreams, but we all come from different backgrounds, different ideological outlooks, different philosophy on life, and we should avoid that which can divide people in marketing and put only what can bring people together.

Financial independence is something every reasonable person should want and we just have to show reasonable people how they can achieve financial independence through Bitshares, with some examples of people who are working at achieving it. Maybe someone should set up blogs showing how they invest through Bitshares and share their success. This way you market Bitshares to the people who want financial independence but who never thought it was possible to achieve through blockchains.


327
General Discussion / Re: Wow. That was a shitty day for bitshares
« on: November 04, 2015, 04:05:35 pm »
How do I promote bitshares? Do I walk into a bar and say "You should use bitshares because (I have no idea what to say here)".  Same thing with other merchants and business's.  How can they use this? Why would they use this instead or along with bitcoin?

For me it's quite simple. There are two distinct customer groups:
(1) online merchants - they need to be attracted by financial reasons: we have no charge-backs and we are significantly cheaper - due to the referral program having BTS as a system for receiving payments can mean a net income rather than 2% cost (as is the case with legacy systems).
(2) online consumers - they will come to BTS for lifestyle reasons, financial reasons won't work here because if you spend less than $5 / month for transaction fees you are not price sensitive.
This is what BM points out and I fully agree with it:
BTS needs to be promoted as a tool of freedom that it is. It needs to develop its own mini economy of people that are passionate about a common goal.

Start using phrases like "financial independence". Most people understand and desire to be financially independent. Using vague words like "freedom" isn't going to work so well in marketing.

Bitshares can help people become financially independent if it is designed right. If it doesn't help people to become financially independent then it will not have many use cases and will be hard to market.

The referral program, the potential for yield, dividends, interest, all which could be compounded, the potential for equity crowd funding, that is how you bring equity ownership to the masses and the "freedom" of being financially independent as an end result of it.

Appealing to merchants and customers is the wrong way to go about it. Merchants don't need to be directly appealed to because they'll adopt it if enough people ask them to, and customers don't really matter if they don't have the goal of joining the Bitshares economy and intention of becoming financially independent.

So why not promote the memes of financial independence,  in a non-ideological way, from a pure mathematics, numbers, economics kind of way. To promote the ability of the saver to save, to promote the ability of the investor to invest, and to allow participants to generate life long passive income streams as a result, streams which can compound over time as the Bitshares supply decreases and the price increases.

328
General Discussion / Re: Buying Stocks on Bitshares
« on: November 04, 2015, 03:25:38 pm »

OK, so I'm going off at a bit of a tangent here compared to the flow of conversation on here. However, is it in the works to be able to buy stocks from around the world on Bitshares? I was thinking that essentially it would be no different that the price of gold, just s contract for difference between two parties at a particular point in time.

Just wondering if that was in the vision because I'm a global exchange would sure be something to behold.

Yes. Pegging was supposed to work with stocks. Liquidity is the main constraint.

329
General Discussion / Re: Bitshares price discussion
« on: November 04, 2015, 01:54:55 pm »
I think that the reason is that the Chinese are pumping bitcoin..Once the pump is over hopefully they might come back and invest in some bitassets and bts..However the bigger problem is that when the btc pump ends bts may not be ready yet...

I think this pump is actually coming from Wall Street. What long awaited Wall Street Bitcoin exchange launched in early October? Did you forget about that? What about the Nasdaq experiments?

If Wall Street money starts flowing in the $1000 ATH will be passed like nothing. $10,000 or even $20,000 will be new bubble territory. When a Bitcoin is over $1000 a coin the ordinary people will then think it's too expensive and look to altcoins, but Wall Street don't think that way and don't have the same psychology.

330
General Discussion / Re: Bitshares price discussion
« on: November 04, 2015, 01:52:33 pm »
Btw, what is the cause of the current Bitshares depression?

(a) People leaving Bitshares to buy Bitcoins?
(b) General lost of interest in Bitshares due to BTS 2.0 machinery?
(c) Is the BitUSD-BTS-link part of "the problem" with the declining BTS/BTC rate?
(d) Are people giving up on Bitshares because the GUI is still buggy?
(e) ...

Just brainstorming here.

Can you still hold BitBTC?

Does the referral marketing have an effect? We have to wait and see.

BTC could be going to $10,000 though. There isn't any reason why it would stop rising this time except for maybe Max Block Size but that might take a while. Also by 2016 the Block Reward will half anyway so this has been predicted.

It's not Bitshares exclusive. All altcoins are losing BTC at a fast rate. What is important to note is they can all gain BTC back just as fast, but also it's important to note that perhaps the current bubble is from wall street and not tech experts. It might be that the Bitcoin ETFs, the ETNs, the NASDAQ news, and all of that, are allowing hedgefunds and others to buy BTC.

At the same time these entities aren't likely to buy altcoins like in previous bubbles. So it all depends on if regular people start buying BTC or if it's just wall street. Even if it is just wall street eventually wall street will notice Bitshares but it could take months.

Bitshares 2.0 has markets within it which just have to be used. Bitshares 2.0 isn't currently being used while Bitshares 1.0 would have been used in this situation. People would have bought BitAssets.


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