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Messages - hughmanwho

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16
General Discussion / Re: This is why BTSX has fallen in market cap
« on: October 31, 2014, 06:35:29 pm »
In my mind, this is why BTSX's marketcap has fallen:
http://www.alexa.com/siteinfo/bitsharestalk.org

It's less popular because BTSX had a bubble and now people are bored and have moved on.

Being a Nxt fan, interesting Nxtforum currently ranks higher than BTSXtalk in terms of traffic:
http://www.alexa.com/siteinfo/nxtforum.org

17
General Discussion / Re: Top developers should temporarily be allowed more than one delegate
« on: October 31, 2014, 02:19:59 am »
I disagree.. I'm a good developer but yet I still prefer Nxt.. precisely because I understand it.

Nxt is truly decentralized and has a very secure core algorithm providing 90% protection.  Something that Bitshares cannot match, precisely because of the delegate system.

18
General Discussion / Re: I hope new bts will rise 200% after 11.05
« on: October 30, 2014, 09:43:08 pm »
Quote from: Ander on October 30, 2014, 09:00:55 pm
Quote from: hughmanwho on October 30, 2014, 08:55:36 pm

How does delegate system allow funding development/marketing?

Voters can elect paid delegates who will receive bitshares each block, and can then use them to fund development, fund marketing campaigns, etc.

This was one of the main new things in the changes to Bitshares.

Where do the Bitshares come from?  Do they print new ones out of thin air?  I know there was talk of allowing voters to inflate the supply to their hearts content..

19
General Discussion / Re: I hope new bts will rise 200% after 11.05
« on: October 30, 2014, 08:55:36 pm »
Quote from: Rune on October 30, 2014, 05:17:06 pm
Quote from: Ander on October 30, 2014, 05:11:09 pm
Quote from: hughmanwho on October 30, 2014, 04:35:35 pm
It's still got good long term potential.  Not as much as Nxt but it's always a great idea to diversify.

Also, keep in mind that the reason for the spike was largely because people thought Overstock might go with BTSX.. which is clearly not happening anymore.  Also the other big thing BTSX had going for it was BitUSD.. but clearly NuBits is maintaining a much more stable price, while BitUSD has been a little bit weak.

Wow, you managed to say, all in one post:
NXT > BTSX.
Nubits > bitUSD.
And that our price rise was people fantasizing about an overstock partnership.


The absolute worst thing about this price drop is having to watch people be able to make all these bullshit statements in one post, and have it seem like they might actually be right because BTSX is getting destroyed.

I think it's amazing that our competitors are completely oblivious to the fact that our advantage is clearly the delegate system and the way it allows us to fund development/marketing directly.

Overstock, bitUSD or other stuff is completely irrelevant in the face of a blockchain that is incentivized to pay for its own upgrades. It's like the economic version of the much anticipated AI singularity.

As long as they focus on the individual features (which are currently still pretty great, even compared to NXT and nubits), and not the actual reason for these features (and their future improvements which is the real killer), they are not even really competing with us.

How does delegate system allow funding development/marketing?

20
General Discussion / Re: I hope new bts will rise 200% after 11.05
« on: October 30, 2014, 04:35:35 pm »
It's the bubble popping..  look through my posts, I predicted this a month or two ago.

A bunch of people rushed in, all not wanting to miss out on the next big thing and they worried that BTSX would go higher than Ripple and they panic bought..  only now everyone who wanted it has already put as much as they could afford to risk in.. while the sellers still want to sell and the price is crashing.  It's unfortunate that there is so much panic buying in crypto.. because it always leads to crashes.

It's going to be continuing down for a week or two, then I'll pick some up as planned.  It's still got good long term potential.  Not as much as Nxt but it's always a great idea to diversify.

Also, keep in mind that the reason for the spike was largely because people thought Overstock might go with BTSX.. which is clearly not happening anymore.  Also the other big thing BTSX had going for it was BitUSD.. but clearly NuBits is maintaining a much more stable price, while BitUSD has been a little bit weak.

21
General Discussion / When did work on DPOS start?
« on: October 17, 2014, 08:21:11 pm »
I'm just curious what's the story behind it's invention and how long has it been working?

Also, how does it work from a technical point of view?

Thanks!

22
General Discussion / Re: can anyone catch me up on NXT quickly?
« on: October 15, 2014, 05:24:24 pm »
Quote from: fuzzy on October 15, 2014, 04:34:50 am
Quote from: bitmarket on October 15, 2014, 04:00:27 am
I see they have a bunch of crypto assets at this site
http://coinmarketcap.com/assets/views/all/

Most of them have low volume, but what are they?

To my knowledge they are planning a reputation system for those who issue assets...but you might want to double check on that because I follow NHZ more closely (a clone of NXT with far better distribution) and it could be them with those plans, or both.   Nick Cote from the Mumble Server is planning on holding an event at some point on our mumble server for the NHZ community so I am sure it would be a good idea to show up when it is announced ;)

Correct, Nxt is planning to build a reputation system for Nxt.

I think the reason Nxt has so many more assets is because of the network effect, Nxt was here first and ignoring the price many are still IPOing there because that's where they've gone top IPO in the past.

So many clones have tried "fairer" distribution.. that was just FUD launched aat NXT by miners.  You want to talk distribution? One person owns 9+%  of Bitshares.

jsidhu, what kind of bad decisions has NXT made?

23
General Discussion / Re: Lets see if it bounces.
« on: September 16, 2014, 12:24:56 am »
I'm still saying that the graph looks an awful lot like this:

24
General Discussion / Re: When will we achieve next order of magnitude increase?
« on: September 10, 2014, 03:59:24 am »
Are you talking about Nxt instant transactions?

How did you read about instant transactions a year ago?  Were BTSX transactions available a year ago?

Because the initial idea within Nxt was only initially proposed 4 months ago.  It was in May.  A couple months of chatting and figuring out details, plus the guy quit his job a month ago to start working on them full time and doing the actual coding.

The only version that was available in December was BCNext's idea that you would only allow someone to instantly spend 10% of all your Nxt within a given 24 hours period, and the rest would be locked.

Quote from: yellowecho on September 09, 2014, 11:33:28 pm
Who are you talking to?  I don't see anyone being anti-NXT.  And what's the 'long term, 90% protection'?

Someone was spreading FUD about Nxt's 'unfair' distribution but how even though someone owns 9% of BTSX it's more fair.. whatever.

25
General Discussion / Re: When will we achieve next order of magnitude increase?
« on: September 09, 2014, 10:36:50 pm »
So I don't understand how you can be pro-BTSX but anti-Nxt due to an 'unfair distribution'.

If it's that you are worried about too much of the network being controlled by people with big accounts.. the delegates could collude just as easily as forgers.  It's not implemented yet but long term, 90% protection will be implemented.  In fact taking control of delegates is easier, yes it would be a lot of work but it say a group of 5-10 Counterparty people decided to do it, it would be doable with fake accounts and what not.  Hard and unlikely to happen, yes.

If it's that you are worried about dumping.. you just said that someone owns ~10% of BTSX!  It'd take multiple Nxt accounts all deciding to sell at the same time to achieve that level of dumping.  Personally as a Nxt fan, I would love to see that level of dumping.

Yeah, wish I could say more about instant transaction method but it was posted at Nxtforum.org for 3 or 4 months for all to see, discussed with lots of other nxt developers, but the developer is staying quite about how it works currently, so I will too.

26
General Discussion / Re: When will we achieve next order of magnitude increase?
« on: September 09, 2014, 07:54:37 pm »
That's just it though, an attacked would not to have any stake in BTSX.. or barely any, just enough to be allowed to run a delegate.  Then he maybe he spends some money convincing people to vote for him or giving giving back 100% of transaction fees to those that vote for him, or whatever.  Given that people can vote for multiple delegates, a lot of people will vote for these delegates who are willing to work for free.  Once the attacker gets the bottom 51% of delegates, he locks down the network.. and 51% attacks and you hurt trust in Bitshares, even if you do fork the blockchain.

Oh and I'm in close contact with the guy working on Instant Transactions, which is what initially drew me to Nxt, it is definitely taking too long, it's a big project though and until about a month ago was working a full time job and doing this in his spare time.  Apparently just switched over to full time though.  And it scales very nicely.. entirely world could switch to Nxt and the instant transaction system would scale. Other parts would break first.  The other thing is that it apparently somewhat depends on Transparent forging, which isn't due until November, to be released on Nxt's first birthday.

27
General Discussion / Re: When will we achieve next order of magnitude increase?
« on: September 09, 2014, 07:41:20 am »
Quote from: onceuponatime on September 09, 2014, 06:07:06 am
And in the interests of Full Disclosure,

hughmanwho would like to state: .............................................................................

No, it was more like:
     .  . .    <- I sell what little I have       goes to moon  -> ..
  .           .                                                                        . . . .
. <- now   .                                                                   .
                  .                                 .           . . . . .        .
                    .                  ...........    ........             .
                      .           .
                            .  <- I buy
 
You guys clearly aren't reading closely.. I'm saying that I'm planning to buy and like Bitshares, just think it's in a bubble and currently over priced.  Look at slowly decreasing volume.

28
General Discussion / Re: When will we achieve next order of magnitude increase?
« on: September 09, 2014, 06:50:29 am »
Quote from: jwiz168 on September 09, 2014, 06:31:52 am
hughmanwho you have the rights to brag about Nxt , but the thing is you are NOT in the right place. FUDing majority of BTSX investor ?? WE HAVE OUR FAITH IN BITSHARES RIGHT FROM THE MOMENT WE MINED PTS.

Yes.. as did those who were involved in early Nxt.  But the newcomers who barely know BTSX and who fueled this bubble don't know BTSX or have Faith in it yet, they are just interested and panic buying in case BTSX goes past Ripple or Litecoin.. except it won't because Ripple and Litecoin have both been around for years and have many, many people who have been interested in it for just as long.  Notice that these hard core BTSX investors were perfectly happy selling their BTSX assets for 4 times less a month ago.  I suspect it'll never dip that low again.. but $40 million marketcap.. I suspect it'll happen.  Time will tell and one of us will make or lose money as a result.  Trust me, Bitshares isn't going to become a bubble that pops and crashes because I'm speculating it might.  Just saying keep your eyes open and think about the possibility.

Interesting points OldMan.  I think Nxt can do it.. but you do make interesting points.  And trust me.. when the bubble pops ;), I'm definitely going to be buying some BTSX.  One thing I really like about Nxt is that there are just so many people working on it.. talk about decentralized, look at their development team.  If Dan were to be hit by a bus tomorrow, BitShares would be in trouble.  Hit any Nxt developer with a bus and we'd mourn them but others would rush in.  Probably not going to happen but it is a risk.

Personally I love the name Nxt.  Has a nice story behind it too.. I do wish it was 'Next' instead of 'Nxt' but I don't think that the name will be the reason Nxt does or doesn't make it.  I also see what you are saying about the name. It does make it stand out as a good investment platform.  However, efforts are to make Nxt into a currency as well and think that would make Nxt much more valuable in the long run and more likely to grow bigger than Bitshares in the long run for precisely the same reason.  BitShares as a name doesn't sound like a currency.

29
General Discussion / Re: When will short function work?
« on: September 09, 2014, 06:31:53 am »
Quote from: tonyk on September 09, 2014, 06:13:31 am
Quote from: hughmanwho on September 09, 2014, 05:48:11 am
Also, how does shorting work?

I thought you a market expert... predictions... 'Do not say I did not warned you?'

Shorting works this way in my view - "You take a scissors, and you threaten to shorten your own tong whenever you are ready to say something stupid"  ... that's shorting regarding talking.

Regarding pants, you just take the above mentioned  scissors and you cut them to the desired length...

I know what shorting is.. sorry wasn't specific enough.  How does shorting work in BTSX?

When you put up collateral what happens if the price rises so high that the collateral would be eaten away.. do you lose the collateral and the item you shorted?  And do you have to borrow it from someone to short or is all BTSX shorting basically naked shorting by means of creating assets out of thin air?

30
General Discussion / Re: When will short function work?
« on: September 09, 2014, 05:48:11 am »
Also, how does shorting work?

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