Quote from: Helikopterben on February 19, 2015, 02:03:01 pm

Quote from: lil_jay890 on February 19, 2015, 12:36:49 pm

Wall street bailouts led to the biggest rally in the us stock market in history... I know many of you are zero hedge tinfoil hat people and think it's rigged, but you are rich if you bought stocks when the banks were bailed out.

Wrong.  You would be rich if you had bought bitcoin when the banks were bailed out.  You would not have even tripled your money in stocks.  Google the greatest stock market rallies in history.  This one is not it.

Not here to argue what the greatest investment in the world was from 2008 onward... Just saying the bailouts led to a huge rally in stocks and maybe a bailout here would lead to a similar result.

Well I will down vote a bailout delegate and I am sure others will to.

@fuzzy @klosure

Why not buy out poloniex?  At least they are solvent (although they have been hacked before) and we could compete directly with nxt on their own gateway.  It seems like that would be better bang for the buck.  Why was there no discussion of buying out bter before they lost all customer funds?

Quote from: Helikopterben on February 17, 2015, 05:46:32 pm

Let bter fail.  It would be counterproductive to even attempt to bail them out.  Trading needs to migrate to decentralized exchanges.  It may be painful now, but the crypto economy will emerge much more powerful because of it over the long term.

You are right, we should let BTER fail and cripple BitShares so that other gen 2 cryptos can prevail. Survival of the fitest for the sake of mankind, nevermind your personal investments.

Interesting how people will acclaim ground-sounding idealism without realizing it doesn't do anything to address practical issues.

To people who rail or reject the idea of a bailout but only provide general libertarian rethoric as a counter argument, will you please stop blowing hot air and propose an action plan to address the very real and practical fact that Bitshares is going to lose its main gateway and fall behind in a major way?

Would you rather bter fail now or fail when bitshares is 100x bigger with 100x more assets exposed on the failed exchange.  Of course that would be AFTER giving them 7000 btc.  Bitshares (and other 2.0 projects) will be stronger long term with a bter closure. 

I have no idea why this ideology perists of giving other people full control of your money and then when you inevitably get screwed, you start talking about bailouts.  Crypto has many tools to solve this problem.  Bitshares is proving to be one of them, but it won't succeed by bailing out centralized exchanges, the very problem it is intended to solve.

BM warned of this, and rightfully so.  Those who trade on a decentralized exchange first, trade best.

I'm with you.  Heck, bitgold alone is potentially worth trillions.  The marketcap of gold is currently about 8 trillion dollars.  Imagine if gold were once again useful as money through bitgold.  Yet we are going to work on this little bingo side project to get more adoption?  That makes absolutely no sense.  Swing for the fences guys.  It looks like an easy home run to me, if done right.

Gambling and investment are generally deemed to be polar opposites.  You are going to lose the investment crowd if you introduce gambling directly into the trading interface.  Bitgold, in and of itself, is a game changer.  No one has yet to figure out how to make a genuinely digital currency that can maintain a peg to the price of gold without third party risk, until now.  That alone is a solution the world has never seen.  This product is so profound that, if done right and secured, will have ramifications throughout the world.  Market pegged assets should be the focus.  I doubt any competitor will be able to compete, even with open source code.  If the focus is on building and securing the system, then you should have no problem with adoption.

This is a bad idea.  Professional investors and traders want to be able to go to a site like this and manage their accounts.  They will be turned off if they see a tab for candy crush.  IMO, if bitshares is to be a replacement for the nasdaq, then this should be the end result:  to have a professional trading site where end users have complete control over their assets with as much security as possible.  I realize getting this right is tricky and will take time, but distractions such as these games are unnecessary. 

I have always thought of crypto projects as a "you build it, they will come" model.  Look how far bitcoin has come with no (or very little) marketing in the beginning stages, and arguably negative marketing with the allegations of ponzi scheme, beanie babies, tulip bulbs, terrorism, child pornography, ect, ect, ect.  Marketing at this stage is largely unecessary.

IMO you guys are panicking because the price is down and you put too much emphasis on your ranking on coinmarketcap.  Bitshares adoption and price is naturally progressing at a nice pace.  Going from essentially 0 to to a market cap of $25 mil in 1.5 years is phenomenal, and the project is nowhere near ready for mainstream yet.  Yes it hit $100 mil and corrected, but that is completely normal for a market and cannot be avoided.  Just look at early charts of Microsoft or Apple.  They had many rallies followed by long, drawn out corrections.  Everyone knows how volatile bitcoin has been over the years.  Markets move in cycles and IMO we are near the bottom of a cycle in crypto right now.  Prices and adoption should begin to rise and along with it more investment and higher pay for delegates.  This technology is too important for you guys to get distracted and not focus on the big picture.  Bitshares has the potential to be a global game-changer.  Don't get frustrated by a down cycle and start thinking that something is wrong with adoption or that silly games need to be added to the trading interface.  Perhaps build a separate client for games and gambling or another chain if possible, but keep bitshares as a pristine, trust-minimized value storage and transfer network.  I have personally given my investment in this 2 years to show good progress because I realize Rome wasn't built in a day and it is going to take time to make this happen.  Ignor all the negativity and focus on the task at had.  The global implications of this project are too important.

/rant