181
General Discussion / Re: Airdrop 100% profit to bitsharestalk.org (1110 1280 BTSX)
« on: November 10, 2014, 04:40:29 pm »
account: chuckone
Thanks again!
Thanks again!
Show Posts
This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.
182
General Discussion / Re: The big question
« on: November 10, 2014, 04:34:06 pm »Stress free recipe :
1) buy a shitload of BTS.
2) coldstore
3) sleep well
4) When you're able to pay cam whores with some bitUSD, you're rich !
It will take either a lot of Bitshares or a very high market cap to be rich. Maybe the guy with 20 million Bitshares will be rich.
Yep, only a handful will get rich with Bitshares, even if it does go to the moon. And the guy with 20 million Bitshares is already rich IMO. Not because of the 20M shares, but because he's able to invest so much liquidity in such a high risk endeavor. Being ready to lose that much money in one investment shows he has means most of us don't have.
183
General Discussion / Re: The big question
« on: November 10, 2014, 03:45:17 pm »See so long quotes, suddenly found that bitcoins up, bitshares will fall. If bitcoin fell, more bit dropping. Then came the question, under what circumstances, bitshares will rise?
Bitshares will rise when a fully featured client is up and running, the big marketing push begins and starts to give results and when the on/off-ramps are setup. This will increase Bitshares adoption and will drive up the price.
Right now Bitshares has value, and it's valued according to the number of people using it as well as speculation. The product is pretty much unknown to the world. But it will change, soon, and when people start to realize how game-changing it is... Well, we'll see!
184
General Discussion / Re: Bought at 6000 Satoshis now down to 5000ish?
« on: November 10, 2014, 03:02:44 pm »I bought a ton of Bitshares at 6000 and now it is down to 5000ish. I feel like I could have bought around 15% more if I waited 1 extra dayAny advice?
Will the price matter in a few years?
Should I sell now to buy back lower?
Before selling I would ask myself: "Am in this for the long run, or am I just trying to make a few bucks?"
No matter your answer to that question, you'll realize that selling would mean accepting an immediate loss, without any guarantee you can make a profit later on.
So, guaranteed loss, without knowing you can make up later. Not selling would mean no loss, at least until you sell. If you're unsure and don't like volatility, why did you invest in crypto in the first place? But in any case, nothing prevents you from selling as soon as it reaches 6000 satoshi again, cash out and invest in government bonds. This way you'll earn a guaranteed interest rate, and you'll probably sleep better.
EDIT: Even better, buy bitUSD with your BTSX, you'll get a better return than with government bonds!
185
General Discussion / Re: l stop reading everything about Bitshares.
« on: November 10, 2014, 02:45:47 pm »
Calling Bitshares a Ponzi is pretty much like calling any corporation a Ponzi.
Basically Bitshares offers a service, which is smart banking with very low fees, coupled with a trading platform. That's not even considering all the other features that will come in the future. The more people use it, the higher the perceived/real valuation will be. Simple economics. Wider adoption = Higher share price.
I still don't get where the Ponzi definition fits in.
Basically Bitshares offers a service, which is smart banking with very low fees, coupled with a trading platform. That's not even considering all the other features that will come in the future. The more people use it, the higher the perceived/real valuation will be. Simple economics. Wider adoption = Higher share price.
I still don't get where the Ponzi definition fits in.
186
General Discussion / Re: Angel funds being given away by I3 - no transparency, input, or explanation?
« on: November 06, 2014, 04:20:34 pm »
I remember clearly the "no strings attached" wording used by I3 regarding the funds that were donated for AGS. It wasn't a contract, nobody who donated was entitled to anything other than the good faith of the DAC developpers who would apply the social concensus, and thus the shares from the DACs were "gifts". Anybody who gave to the AGS fund knew that from the beginning. It wasn't a pre-sale in all the future DACs. When you do a donation, you trust the entity that receives the funds to spend them wisely and efficiently. From the information bytemaster and toast provided us, the spirit of the AGS fund has been applied properly.
Total accountability and transparency for each dollar given to each developer is not something that was guaranteed from the beginning. That's why I believe hitting the same nail again and again regarding this issue is worthless.
For these reasons based on FACTS, I believe this is a non-issue.
Disclaimer: I'm an AGS donator. For what it's worth, I believe the funds are properly managed.
Total accountability and transparency for each dollar given to each developer is not something that was guaranteed from the beginning. That's why I believe hitting the same nail again and again regarding this issue is worthless.
For these reasons based on FACTS, I believe this is a non-issue.
Disclaimer: I'm an AGS donator. For what it's worth, I believe the funds are properly managed.
187
General Discussion / Re: Gentle dilution of BTS is valuable,but do we need a max supply of BTS.
« on: November 04, 2014, 01:07:05 pm »
I might be naive, but my understanding is that as a community, we will only vote delegates with 100% pay that give more than they take from the community. As soon as the system matures and the valuation increases significantly, 100% pay will be a lot of money, and except superstars delegates that bring a lot of value, there won't be a lot of delegates with 100% pay.
Assuming all voted delegates are at 100% pay all the time is highly improbable. Even from the beginning, there won't be 101 delegates providing enough value to the ecosystem for them to be all voted in with 100% pay (if this happens, then we're going to have a hell of a product).
Putting in a hard cap won't bring much to the table IMO. Large stakeholders won't be willing to dilute their holdings indefinitely. What needs to be taken care of, I think, is to make sure there's a mechanism in place to make sure that no stakeholder big enough can vote himself in indefinitely with max pay without giving back to the community.
With that in place, we won't need a definite hard cap (except for the 50bts per block hard cap). The dilution rate will take care of itself as the ecosystem matures.
Assuming all voted delegates are at 100% pay all the time is highly improbable. Even from the beginning, there won't be 101 delegates providing enough value to the ecosystem for them to be all voted in with 100% pay (if this happens, then we're going to have a hell of a product).
Putting in a hard cap won't bring much to the table IMO. Large stakeholders won't be willing to dilute their holdings indefinitely. What needs to be taken care of, I think, is to make sure there's a mechanism in place to make sure that no stakeholder big enough can vote himself in indefinitely with max pay without giving back to the community.
With that in place, we won't need a definite hard cap (except for the 50bts per block hard cap). The dilution rate will take care of itself as the ecosystem matures.
188
General Discussion / Re: What does a 'Stock Buyback' look like in BTS?
« on: November 03, 2014, 03:58:01 pm »What seems to be the problem is that there is no 'company' and 'shareholder' separation. Since a buyback is when 'the company' buys shares back from 'the shareholders', and since 'the shareholders' are 'the company', this makes any definition of a buyback meaningless in the context of the DAC. Is this right? I have heard people talk about 'buybacks' in the context of BTS, what could these people have been talking about?
I guess the best analogy would be the burn rate from delegates.
189
Marketplace / Re: is anyone skilled enough to get surge?
« on: October 31, 2014, 03:34:04 pm »
Wow 70$ on Amazon for 12 cans?!
Is it liquid gold?
Is it liquid gold?
190
General Discussion / Re: We got a situation here!
« on: October 31, 2014, 02:34:55 pm »
Now that the big merger has been announced, consolidating and improving on solid grounds is absolutely necessary to get back a high level of confidence from the whole community. Uncertainty is definitely a big factor (not the only one, but a significant one nonetheless) in the recent price drop.
Adding to that level of uncertainty with other big changes before the big push would be catastrophic for the investor's confidence IMO.
I probably voice a concern already mentionned somewhere in the forum, but that's the general feeling I have.
Adding to that level of uncertainty with other big changes before the big push would be catastrophic for the investor's confidence IMO.
I probably voice a concern already mentionned somewhere in the forum, but that's the general feeling I have.
191
General Discussion / Re: How many bitshares do you own?
« on: October 29, 2014, 12:05:53 am »How many do you own?
what do you feel the potential marketcap or value is in a year or two?
17
That answer was for the market cap, in billions?
192
Random Discussion / IRS can steal your money... Even though you have done nothing illegal.
« on: October 28, 2014, 11:05:11 pm »
I'm very happy not to live in the US after reading this. IRS can literally confiscate your money if they only think it might come from illegal activities. Even after it's proven you have done nothing wrong, they don't even give it back to you.
It gives me goose bumps just to think it's possible...
http://www.forbes.com/sites/rickungar/2014/10/27/a-new-irs-horror-story-that-makes-past-scandals-pale-in-comparison/
It gives me goose bumps just to think it's possible...
http://www.forbes.com/sites/rickungar/2014/10/27/a-new-irs-horror-story-that-makes-past-scandals-pale-in-comparison/
193
General Discussion / Re: Advice wanted: I'm considering running a marketing delegate.
« on: October 28, 2014, 09:56:33 pm »
I've seen several of your posts, I like how much you're dedicated to the Bitshares community and your down to earth approach to marketing. Knowing that you're independently wealthy gives me confidence you'll put the funds to good use instead of mostly paying for your time.
You've got my vote!
You've got my vote!
194
General Discussion / Re: bitUSD marketcap
« on: October 28, 2014, 02:50:18 pm »How dumping BTSX get you profits from shorting bitusd?
My understanding is that if BTSX are dumped their price to usd will fall, so someone shorting bitusd (expecting usd to fall vs. BTSX) will lose.
Oh right yes I'm mistaken.
Someone with a large position is quite bullish about the future value of BTS...
So the big shorting action increasing bitUSD market cap is just because someone thinks BTSX will rise? But someone had to buy that bitUSD didn't they. And those people must think BTSX will go down so they buy bitUSD to protect themselves. So overall is increase in bitUSD market cap just means people are hedging, placing their bets within the system, not necessarily that any new money is entering?
Until there are on/off-ramps from fiat to bitUSD, each bitUSD created from shorts must be bought using BTSX on the Bitshares-X trading platform. So my understanding would be that any matched short definitely doesn't mean new money came in. The only way to have new money coming in the ecosystem would be through BTSX on the centralized exchanges. I'm no market expert, but that would be my interpretation.
You can buy bitUSD on Bter. Not a great onramp, but onramp no less.
Sent from my SCH-S720C using Tapatalk 2
True. But with a 24h volume of 0.0BTC, I avoid mentioning it as useable on-ramp
195
General Discussion / Re: bitUSD marketcap
« on: October 28, 2014, 12:25:57 pm »How dumping BTSX get you profits from shorting bitusd?
My understanding is that if BTSX are dumped their price to usd will fall, so someone shorting bitusd (expecting usd to fall vs. BTSX) will lose.
Oh right yes I'm mistaken.
Someone with a large position is quite bullish about the future value of BTS...
So the big shorting action increasing bitUSD market cap is just because someone thinks BTSX will rise? But someone had to buy that bitUSD didn't they. And those people must think BTSX will go down so they buy bitUSD to protect themselves. So overall is increase in bitUSD market cap just means people are hedging, placing their bets within the system, not necessarily that any new money is entering?
Until there are on/off-ramps from fiat to bitUSD, each bitUSD created from shorts must be bought using BTSX on the Bitshares-X trading platform. So my understanding would be that any matched short definitely doesn't mean new money came in. The only way to have new money coming in the ecosystem would be through BTSX on the centralized exchanges. I'm no market expert, but that would be my interpretation.
