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Messages - Samupaha

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391
The power users for bitshares are altcoin traders.
Altcoin traders like poloniex and it doesn't matter if altcoin traders like it for irrational reasons, they just like it.
Longer term bitshares market maybe forex trading but for now we should target altcoin traders directly.

This means copying exactly what poloniex do.

we need a normal login like they have.
we need 2fa like they have.
we need a fee structure like they have.
we need a GUI like them with a troll box

The point is that we shouldn't just copy what some/everybody else is doing but to do something so much better that we can basically monopolize a certain market segment.

What will be our advantage if we copy Polo? What makes altcoin traders to leave Polo and to change to our DEX?

Bond market much needed here. 

Who will use it and for what?

392
General Discussion / Re: Wow. That was a shitty day for bitshares
« on: November 04, 2015, 11:25:39 am »
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.

Unfortunately, growing a community in such a manner is much slower than most would like.

I'll have to disagree here. While think freedom is really important, I'll have to accept the fact that most people don't care about it.

Of course Bitshares has to be "freedom compatible", otherwise it won't be useful and wont' revolutionize anything. But using freedom as a main marketing point is just waste of time.

Freedom lovers are a tiny group, and most of them are already using bitcoin, and especially right now when the BTC is rocketing, they are not interested in questioning the foundations of Bitcoin and analyze how bad it actually is (in the long run).

393
General Discussion / Who are (or who could be) the powerusers of Bitshares?
« on: November 04, 2015, 11:01:58 am »
In his book Zero to One Peter Thiel gives one advice that might be useful for Bitshares: start small and monopolize.

This means that a startup business should try to find a small audience that it can serve really well. Paypal did this with eBay powersellers – people who were selling lots of stuff on eBay. After three months of dedicated effort, 25 % of them were Paypal users. Before Paypal the payment processing of eBay deals was really a pain in the ass, so it made a big difference and it wasn't that hard to acquire new active users. Of course, when the sellers were using Paypal, also the buyers started to use it.

Can we find the poweruser group for Bitshares? Are there people who would greatly benefit from our services? If we find that group, devs should let them be the top priority for a while. After we have the initial traction, we can start to scale up and concentrate on other users/markets.

394
Technical Support / Re: How would an altcoin migrate to bitshares ?
« on: November 04, 2015, 10:48:58 am »
Who would benefit from the migration? Who uses these coins and for what? What's in the migration for them?

If these coins have some unique features on their blockchains that they want to keep, they wouldn't propably benefit much from migration because they'd lose the features.

395
Random Discussion / Re: Where is Arhag?
« on: November 04, 2015, 10:43:36 am »
I'd vote him to be a committee member.

396
Random Discussion / Re: Bitshares Book Club
« on: November 04, 2015, 10:42:04 am »
Peter Thiel & Blake Masters – Zero to One: Notes on Startups, or How to Build the Future (Amazon)

Words of wisdom from Peter Thiel. This book focuses on how to build world changing startups – so this is a good read for people who are developing Bitshares or building a business on top of it.

(Sorry for the short review, it's been a while since I read the book. I've been planning to read it again keeping Bitshares in mind but haven't had time to do it. If somebody reads this, it would be great to hear some thoughts on how Bitshares could implement some of the ideas presented in it.)

397
General Discussion / Re: Orientation video for newbies
« on: November 04, 2015, 09:14:26 am »
BitBTC is the derivative version of bitcoin (market pegged asset). TRADE.BTC and OPENBTC are user issued assets, meaning that they are IOU's that are backed with real bitcoins.

The reason why Bitshares is capable only 3 sec blocks right now is that network protocol still needs some polishing. And also witnesses need faster internet connections. Until that faster blocktimes wouldn't be really that useful. So this doesn't have anything to do with problems of high frequency trading as you imply on the video.

398
When we will have a test network?

399
General Discussion / Re: Bitcoin Blockchain showing its weakness?
« on: November 04, 2015, 07:03:08 am »
Yeah, I have seen complaints too. I hope at least somebody realizes how shitty Bitcoin network really is and starts to look other blockchains.

Another good point is that cost per transaction is still very high with Bitcoin.

https://blockchain.info/charts/cost-per-transaction

If it's expensive and slow, how long people are really going to use it?

400
General Discussion / Re: Committee members should be economists
« on: November 03, 2015, 09:38:07 pm »
I don't expect this to happen right away. But when we see candidates who know economics, we should vote for them.

BTW, couldn't we pay also to committee members? It doesn't need to be much, but this is highly valuable job for the blockchain, so maybe it should be rewarded even a little bit.

401
Random Discussion / Re: Bitshares Book Club
« on: November 03, 2015, 11:12:59 am »
Tim Swanson – The Anatomy of a Money-like Informational Commodity: A Study of Bitcoin (Kindle/PDF/Scribd)

This is a very throughout and critical look on the Bitcoin. A little bit old by now (published last year) but still worth reading. Lots of good reasons why Bitcoin isn't going to be very succesful on the long run.

Bitshares is mentioned a few times but back when the book was being written, there wasn't much information about Bitshares so it's not discussed in any meaningful way. But a good reader can go through the book and think what Bitshares has done better than Bitcoin and I'd say it's better in pretty much every way – especially the most critical points.

This is a good read right now when the price of bitcoin is rocketing. It's good to remember that foundations of Bitcoin are still very weak so the price will come down eventually.

402
Random Discussion / Bitshares Book Club
« on: November 03, 2015, 10:50:12 am »
Does anybody have good recommendations for books worth reading? Especially about economics/trading/startups/marketing etc. that might be useful for trying to learn and understand more about second generation crypto products and how to build and market them.

403
General Discussion / Committee members should be economists
« on: November 03, 2015, 10:36:11 am »
I've been thinking that we should elect committee members who know at least something about economics.

Deciding what are the best blockchain parameter values requires understanding of the effects on whole BTS economy. That's why I'm not so eager to vote for companies who are building their businesses on Bitshares blockchain because they will propably set parameter values that mostly benefit themselves and not so much the whole Bitshares economy.

That's why best committee members might be even completely outsiders who don't have any prejudices about how and what the blockchain should do. They could look the whole economy with a fresh point of view and hopefully they could see what are the biggest road blocks right now and in the near future.

404
Yes! We really need a demo/test network where newbies can mess around freely without a fear that they'll lose all their money.

405
Tim Swanson has written a good blogpost.

Bitcoin doesn't have a consensus mechanism for blockchain parameters so it's users and developers have to spend a lot of money and time to fight what should be done.

This is one reason why I think Bitshares is superior to Bitcoin.

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