BitShares Forum
Main => General Discussion => Topic started by: BldSwtTrs on August 06, 2014, 06:13:19 pm
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If one of Bitcoin weakness is scalability and if DPOS solves that issue, why don't release a DPOS coin that has the sole purpose to be a BTC competitor? That say, a coin which is useless besides that you can send and receive it.
I know you will tell me that it's logically better to add more features, but maybe less is more in this case. Maybe people will use DACs but not use them as money because they don't like the uncertainty linked to the viability of the business model of each DAC.
Or maybe people won't use DACs because of wathever flaw generated by the layer of complexity that DAC's additional features are bringing, but they would use a DPOS coin because it's scale better.
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If/When PTS gets converted to a DPoS coin, this will be the one. I would've preferred a merged PTS/AGS coin, but Stan and co are strictly against making AGS liquid.
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What you say about the adoption and risks are true. It's how people felt about Bitcoin at first and then all the other AltCoins out there (some justifiably). Not trying something bold and new for fear that people might be afraid of it isn't the way to move this industry forward IMHO.
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If one of Bitcoin weakness is scalability and if DPOS solves that issue, why don't release a DPOS coin that has the sole purpose to be a BTC competitor? That say, a coin which is useless besides that you can send and receive it.
I know you will tell me that it's logically better to add more features, but maybe less is more in this case. Maybe people will use DACs but not use them as money because they don't like the uncertainty linked to the viability of the business model of each DAC.
Or maybe people won't use DACs because of wathever flaw generated by the layer of complexity that DAC's additional features are bringing, but they would use a DPOS coin because it's scale better.
DPOS combined with a lot of other technology could make a very attractive altcoin if distribution is handled correctly. My advice would be to honor the AGS,PTS and Bitcoin distribution and also add a small dev share that's locked via milestones. Proof of burn could be a good exodus to the new coin and you'd want to have a solid wallet on the first day for both the mobile and desktop space. Layering Codius would add smart contracts and one could also include a modified version of the counterparty protocol for rapid deployment of user issued assets alongside a one click bitshares blockchain spawner to issue cryptoequities.
Yes it's definitely possible to do this and someone will eventually do it.
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You guys don't seem understand how impractical cryptocoins and volatility is..BitUSD or bust
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If/When PTS gets converted to a DPoS coin, this will be the one.
+5%
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You guys don't seem understand how impractical cryptocoins and volatility is..BitUSD or bust
+5%
A currency should have price stability. I would also be interested in how something like BitCPI (http://www.bls.gov/cpi/cpifaq.htm) would work out.
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If one of Bitcoin weakness is scalability and if DPOS solves that issue, why don't release a DPOS coin that has the sole purpose to be a BTC competitor? That say, a coin which is useless besides that you can send and receive it.
Please correct me if I'm wrong but isn't that exactly what bitBTC is? It's a delegated digital (financial) asset representing the value of BTC except it's far more efficient but equally as fungible? If Bitshares is able to create a stable prediction market, bitBTC will be a serious competitor to BTC once it's tracked on Coinmarketcap and the like.
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But if bitbtc is truly successful it will show Btsx superiority, what do you think will happen then
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If one of Bitcoin weakness is scalability and if DPOS solves that issue, why don't release a DPOS coin that has the sole purpose to be a BTC competitor? That say, a coin which is useless besides that you can send and receive it.
Please correct me if I'm wrong but isn't that exactly what bitBTC is? It's a delegated digital (financial) asset representing the value of BTC except it's far more efficient but equally as fungible? If Bitshares is able to create a stable prediction market, bitBTC will be a serious competitor to BTC once it's tracked on Coinmarketcap and the like.
Makes sense...
You guys don't seem understand how impractical cryptocoins and volatility is..BitUSD or bust
BitUSD could be enforced if all DACs accepted bitUSD for payment of services. Isn't this the best potential use case for incentivizing bitUSD? Then the shares in other DACs would be converted into bitUSD, bitYuan, bitPeso...etc for quick use by a shareholder who wishes to use the services for a discount. In this way, the bitUSD is essentially burned as soon as it is used for liquidity purposes and the services backing it would establish their own market value.
Please give input as to where this is correct/incorrect.
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BitUSD could be enforced if all DACs accepted bitUSD for payment of services. Isn't this the best potential use case for incentivizing bitUSD? Then the shares in other DACs would be converted into bitUSD, bitYuan, bitPeso...etc for quick use by a shareholder who wishes to use the services for a discount. In this way, the bitUSD is essentially burned as soon as it is used for liquidity purposes and the services backing it would establish their own market value.
Please give input as to where this is correct/incorrect.
This is a very interesting topic and I'd also like to hear others input. It's my understanding that DACs wouldn't have to accept bitUSD because BitsharesX could do near instantaneous conversions.
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If/When PTS gets converted to a DPoS coin, this will be the one. I would've preferred a merged PTS/AGS coin, but Stan and co are strictly against making AGS liquid.
I don't understand the need for this. You're basically suggesting that every AGS be turned into a PTS, right?
So that would have three effects:
1) Dilute PTS supply, causing a price drop
2) Give devs less airdrop options
3) Make people able to to sell
Do you want out?
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AGS will never be made liquid .. period .. legal statement by Stan
checkout:
http://wiki.bitshares.org/index.php/BitShares_AGS#Why_can.27t_I_trade_them_on_an_exchange.3F
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Sound reasoning. So AGS is like a public receipt. Never thought about it that way.
+5%
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Its always been a donation!! No payback nor refund!
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BitUSD could be enforced if all DACs accepted bitUSD for payment of services. Isn't this the best potential use case for incentivizing bitUSD? Then the shares in other DACs would be converted into bitUSD, bitYuan, bitPeso...etc for quick use by a shareholder who wishes to use the services for a discount. In this way, the bitUSD is essentially burned as soon as it is used for liquidity purposes and the services backing it would establish their own market value.
Please give input as to where this is correct/incorrect.
This is a very interesting topic and I'd also like to hear others input. It's my understanding that DACs wouldn't have to accept bitUSD because BitsharesX could do near instantaneous conversions.
In theory, all that should mattter is that the end payment is transferred from the bit(fiat) of their jurisdiction to the token accepted by the DAC. The transfer could be made automatically (without any extra steps taken on the user end) and would increase volume which would help with price stability of the market peg. Still interested in others' take on this though.
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AGS will never be made liquid .. period .. legal statement by Stan
checkout:
http://wiki.bitshares.org/index.php/BitShares_AGS#Why_can.27t_I_trade_them_on_an_exchange.3F
Once a few people lose out their private keys to spurious DACs - and its bound to happen - you might see Stan and co singing a different tune.
Personally I am extra wary of importing my AGS priv key; and haven't even encashed Lottoshares. If as I3 envisions a ton of DACs all honouring PTS/AGS come into play expect massive scams.
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AGS will never be made liquid .. period .. legal statement by Stan
checkout:
http://wiki.bitshares.org/index.php/BitShares_AGS#Why_can.27t_I_trade_them_on_an_exchange.3F
Once a few people lose out their private keys to spurious DACs - and its bound to happen - you might see Stan and co singing a different tune.
Personally I am extra wary of importing my AGS priv key; and haven't even encashed Lottoshares. If as I3 envisions a ton of DACs all honouring PTS/AGS come into play expect massive scams.
There is a plan that allows importing the genesis stake without revealing the private key to the 3rd party DAC .. devs know about that issue very well