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Messages - Chuckone

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196
General Discussion / Re: bitUSD marketcap
« on: October 28, 2014, 12:12:05 pm »
Quote from: matt608 on October 28, 2014, 12:10:38 pm
Quote from: mf-tzo on October 28, 2014, 12:08:31 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...

197
General Discussion / Re: The economic explanation for why I'm so ridiculously excited/scared about BTS
« on: October 23, 2014, 07:30:52 pm »
Quote from: Ander on October 23, 2014, 07:24:16 pm
I wonder if this thread will be absolutely epic in a year...

Honestly, I would want to be able to stay away from the forum and the exchanges and not even take a look back, then come back in a couple of years from now and see what happened with Bitshares... (won't happen though, I'm addicted)

It'll be either dead or freakingly huge. I tend toward the latter.

198
General Discussion / Re: If you want to know.....
« on: October 23, 2014, 06:14:14 pm »
Quote from: MeTHoDx on October 23, 2014, 06:11:40 pm
I agree with the communication problem. Invictus: I offer my talents to you freely. I'm good at constructing a clear message and simplifying things. Maybe I should become a deleagte and pledge to take on a PR role. Hmmm.

I appreciated several of the simplifications you did on this forum.

I would support you as a delegate.

199
General Discussion / Re: Welcome back to $50MM Market Cap
« on: October 23, 2014, 06:04:51 pm »
Very interesting perspective...

I'm not a trader myself, I'm in for the long run. But I can see how market manipulation, with the right amount of capital in a market with low liquidity, can be very profitable. That's pretty much why I don't do it, I'm a small player and would end up being eaten alive by big shot market vultures.

But in any case, it's good to know that current price fluctuations aren't caused by the general mood of the investors.

I would like to see more of this kind of analysis in here, but I do understand nobody would want to give away their secrets for free ;)

200
General Discussion / Re: Welcome back to $50MM Market Cap
« on: October 23, 2014, 03:52:34 pm »
Quote from: OldMan on October 23, 2014, 03:49:12 pm
Quote from: toast on October 23, 2014, 03:30:07 pm
Agreeing not to sell doesn't matter - when you hit the price point and everyone wants to cash out there needs to be the demand to catch it anyway.

Correct - folks seem more concerned with Step 1 (share price XX) than Step 2 (realizing gains).

Nonetheless I'd love to see the sell side dry up and watch the FOMO rocket take off.

I honestly don't understand why there's so much selling pressure right now? Is it unsatisfied stake holders cashing out because they disagree with the merger and want to move their funds elsewhere? Can't understand why the merger could be perceived as something negative for the futre... Or is it simply change that is perceived as bad?

201
General Discussion / Re: Fix for DNS Holders who lost money buying into DNS
« on: October 22, 2014, 07:00:41 pm »
Quote from: Shentist on October 22, 2014, 06:58:32 pm
Quote from: werneo on October 22, 2014, 06:55:47 pm
Query:

I claimed my AGS allocation via my KEYID wallet. I have something over a million DNS.  Help me out here. Are my DNS still on the genesis block or did I move them to my wallet when I claimed them? Just trying to understand if claiming my DNS yesterday effected my allocation today.


only people who are bought DNS on a exchange or get them from someone will get extra DNS from the I3 funds. Not AGS/PTS allocation on the genesis block.

My understanding is that anyone who had claimed DNS in their possession would have a part of the share drop. Unclaimed genesis stakes wouldn't be included

202
General Discussion / Re: Perspective is Everything
« on: October 22, 2014, 03:46:42 pm »
Quote from: bytemaster on October 22, 2014, 03:28:59 pm
Quote from: Mars.Walker on October 22, 2014, 03:26:08 pm
If only you can do this article in the first place to laid down all the facts and let people to digest before you make the proposal......
If only you can communicate with other devs first....

 :'(

Bad management and business and PR part,I'll say.

It does not had to happened.

Yep.. we are moving toward much more controlled PR.... but unfortunately that means my posting around here will have to stop (or be greatly reduced) and things will have to move slower.

It's sad that it had to come to that point. Your input is highly valued around here, and to be able to witness the evolution of your vision over time, post by post, was very interesting.

Unfortunately, a lot of people will panic sell for an interpretation they have of a single post. Then it has a cascading effect and then a lot more get on panic mode.

As Stan said, due diligence is everyone's responsibility.

203
General Discussion / Re: Proposed Allocation for Merger
« on: October 22, 2014, 03:00:02 pm »
Quote from: bytemaster on October 22, 2014, 02:36:15 pm
Quote from: lzr1900 on October 22, 2014, 02:32:24 pm
Quote from: biophil on October 22, 2014, 02:29:44 pm
Quote from: bytemaster on October 22, 2014, 01:35:21 pm
Quote from: Empirical1.1 on October 22, 2014, 01:03:44 pm
The only people who've lost out in the equity deals are the key talent that drive the underlying development. If this was a centralised venture they'd have much more equity.

I think this point cannot be driven home enough.... FollowMyVote had 30% stake in VOTE and now has 1% stake vesting over 2 years.   I3 had a much larger stake in VOTE than in BTSX and now has a much smaller stake in BTS and Toast had a much larger stake in DNS and now has a small stake in BTS. 

Would the core developers agree to this strategy if they didn't think it would be better for them as a whole?   It was a very hard decision for everyone.

Damn you guys need to learn something about PR. Why wasn't that the very start of the OP?? Why didn't you mention that the dev stakes aren't included in the buyout?? You guys utterly baffle me. You're announcing a huge major buyout of several companies, and you completely botch the announcement, and then you don't even seem to realize how badly you botched it.
You are damn right!!!!!!! +5% +5% +5% +5% +5% +5%

:( Yes we realize it.

I personally didn't invest in your PR skills. I invested in your vision and I3's capacity to make it happen. Up to now I've been flabbergasted more than once by what you've said here on the forum regarding BTS future and what you work on accomplishing with all your team (before and after the merger proposal).

In time you will be surrounded by a team that will polish every announcements you make before it gets out in the wild. But for now I really like the transparency and honesty you use to communicate with the community. It makes you human and more accessible. Some may be outraged by some "mistake" you might have made in certain announcements and say you lack PR skills, but I personally don't give a damn.

You delivered and will continue to do so. And that's why I pledge several of my future pay checks, which I will happily invest in your vision.

I prefer you have average PR skills than an average vision.

Nobody's perfect.

204
General Discussion / Re: Proposal to Resolve a Million Issues at Once
« on: October 20, 2014, 01:01:25 pm »
I honestly dislike the general panicking mood around BM's proposal.

As it was mentionned before, survival of the fittest is the name of the game in those new and unchartered territories. Being agile and able to react/adapt quickly is definitely an edge, but I do also understand those reluctant to change, since change is always a source of uncertainties. And uncertainty equals a price drop, because the speculators are off to a new and more promising opportunity for a quick buck.

And there's also those who believes they "lose" in the new model, or that they don't receive their fair share compared to other stake holders.

Part of the proposal aims at increasing market adoption, and from all those pages of posts I do believe most of the people agree that simplifying the BTS DAC to one point of entry, and avoiding competing -for ressources and market shares- with ourself is a really good idea.

Dilution is still a litigious point. Some are for, others are against it. I also understand where those who are against it come frome. Giving Bitshares the ability to dilute for funding directed to market share increase (and thus, an increase in shareholders value) shouldn't be seen as bad, as again it's only giving Bitshares the necessary tools to survive in the long run against REAL competition.

So now, I'll get to the point.

Instead of panicking and threatening to jump ship (and some people jumped ship anyway), why don't people take time to see the proposal as it is, instead of saying: "Well, I won't be compensated enough compared to others and I will "lose" if that proposal is passed"??

The objective of this proposal is for Bitshares to SURVIVE and PROSPER in a ruthless and unforgiving world, which in turn will benefit any and all shareholders in the long run. The details of who gets what should be discussed, yes, but why when I'm looking at all the forum posts I get the feeling that some people are "missing" the point that this is a HUGE turning point? They worry about what will be their short term benefits and how they are unfairly treated compared to other stake holders instead of focusing on the fact that the core idea in this proposal is in everybody's best interest? (Or at least aims to be)

This attitude just isn't constructive at this point in time. Those not patient enough to read through all the posts to make their own idea only get a negative vibe, as those not satisfied are always speaking the loudest.

I still see discussions about the details as something constructive, but I really, really dislike the "It's not fair" attitude. I would much prefer to see "good idea, we'll all get rich in the long run. Now how should we split the spoils to make everybody happy?"

*Disclaimer: I'm a post Feb. 28 AGS and PTS investor and relatively recent BTSX investor.

205
General Discussion / Re: VOTE DAC Just Got More Interesting 2.0
« on: October 18, 2014, 10:08:12 am »
Quote from: Mysto on October 18, 2014, 10:00:45 am
Quote from: Chuckone on October 18, 2014, 09:57:15 am
From this page: http://followmyvote.com/follow-my-vote-joins-cavo/

"We are both extremely excited that legislation now exists in California for county voting registrars to begin using government funds to explore pilot programs for elections that include open source voting solutions."

BTSX funding is limited... Get government funding on board to improve Voting and its technology... oh and look, all the parts of the software are open-source, and they fit perfectly within BTSX, and they improve the current technology... And then suddenly you have government funding to improve BTSX.

Synergy... That's the way I interpret this word from Stan...

No way, I'm not selling any of my BTSX.

I truly hope your interpretation is right.

And yet we will not know for sure before there are any official announcements, since the secret sauce must remain secret...

206
General Discussion / Re: VOTE DAC Just Got More Interesting 2.0
« on: October 18, 2014, 09:57:15 am »
From this page: http://followmyvote.com/follow-my-vote-joins-cavo/

"We are both extremely excited that legislation now exists in California for county voting registrars to begin using government funds to explore pilot programs for elections that include open source voting solutions."

BTSX funding is limited... Get government funding on board to improve Voting and its technology... oh and look, all the parts of the software are open-source, and they fit perfectly within BTSX, and they improve the current technology... And then suddenly by piggybacking Votes you have government funding to improve BTSX.

Synergy... That's the way I interpret this word from Stan...

No way, I'm not selling any of my BTSX.

207
General Discussion / Re: Research Help...
« on: October 17, 2014, 05:20:33 pm »
Quote from: CoinHoarder on October 17, 2014, 04:49:15 pm
Quote from: sschechter on October 17, 2014, 04:42:22 pm
Quote from: tbkmcjl on October 17, 2014, 04:34:26 pm
Quote from: bytemaster on October 17, 2014, 03:29:29 pm
What are the legal restrictions on a Credit Union buying and holding a digital asset such as BTC or BTSX?

How much would it cost to buy a Credit Union that is already up and running?   Examples of recently sold Credit Unions or ones on the market today?

Is it simply a matter of becoming the largest depositor in a particular Credit Union as they are in theory owned by their members?

Are you setting up a Credit Union that accepts cryptos as collateral?

Or building a bridge to allow Credit Union customers to purchase and and hold bitAssets inside their CU accounts?

Not sure specifically what he's trying to do.. I assume on and off ramps. CUs are pretty much the same thing as banks except they are technically "non profit".... although they pay dividends to members so I don't get why they call them "non profit". I think they can offer any service a bank can.

Credit unions *act* as for profit organisms. One of the biggest I know makes hundreds of millions in profit each year and give back "dividends" (which is basically a refund proportional to the business you gave them, i.e the fees and interests you paid). The difference from a bank is that each branch of a credit union has a board that decides about small management decisions (pretty much like a franchise), and this board is elected by the members of that branch. Then you have the head office that decides about all the major decisions for all the branches. Instead of distributing profits to shareholders through dividends, they do it through refund to their members.


208
General Discussion / Re: DAC Concept: Item certification
« on: October 17, 2014, 04:57:33 pm »
This concept could basically be used also for a decentralized tracking system for delivery companies (UPS, FedEx, etc.), instead of maintaining huge and complex tracking databases...

209
Muse/SoundDAC / Re: Cost of Notes - PTS VS Pre-sale
« on: October 17, 2014, 03:52:08 pm »
Quote from: currencydebt on October 17, 2014, 02:24:55 pm
There were several days after the snapshot announcement and before the snapshot you could have gotten PTS for 0.009 give or take a little.

As I said, I made several assumptions that may not represent all possible cases... The objective was simply to demonstrate that donating in the pre-sale for those who were late for the snapshot is still a good opportunity to grab cheap Notes.

And (as Cob mentionned several times) it helps the DAC directly by funding it's initial development, which is not the case when buying PTS.

210
Muse/SoundDAC / Cost of Notes - PTS VS Pre-sale
« on: October 17, 2014, 01:27:54 pm »
I just made a quick calculation, just to get a sense of which is the cheaper way to get Notes, either buying PTS before the snapshot or donating directly to the pre-sale. I'm making several assumptions here, so yes, there are different cases where PTS could have been more advantageous or donating to the pre-sale less advantageous.

So let's say I bought PTS just before the snapshot, at about 0.01BTC/PTS and sold after the snapshot a little later at around 0.0075BTC/PTS.

1000PTS for the music snapshot would have cost me (0.01-0.0075)*1000 = 2.5BTC

Those 1000PTS entitles me to (1000/1,710,000)*0.35*1,500,000,000 = 307,017 Notes -- Assuming 1,710,000 PTS in circulation and a 35% initial distribution to PTS

Let's say instead of investing in PTS before the snapshot, I decided to keep my money and use those 2,5BTC to donate to the pre-sale. I'll use the average donation per day as of today, which is 26.48BTC/day for 5,000,000 notes.

Let's assume that by giving a little over several days and get that average per day, those 2.5BTC would entitle me to:

2.5/26.48 * 5,000,000 = 472,054 Notes.

With those assumptions (which are kind of realistic), I can get 53.8% more Notes investing in the pre-sale instead of having invested in PTS pre-snapshot.

Just saying there are cheap Notes to grab as we speak. If I were to be selfish I would just shut up and let the others figure it out by themselves, but more donations = more capital raised = greater product, so I still serve my interests...


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