Quote from: luckybit on October 21, 2014, 11:43:29 pm

The FTC regulates mergers. Should we call our lawyers? Should we ask the FTC what they think?

I think these questions are ridiculous because Bitshares X is software not a security. If Bitshares X is a security then Bitcoin is a security. If Bitshares X is using BitUSD then is that counterfeiting? No because BitUSD is just BTSX.

Honestly I don't think there is anything lawyers could say to help when it comes to truly ground breaking innovations. No one really knows how authorities will react. In China they banned Bitcoin and who knows the SEC could react the same way but even if that happens Bitshares X is supposed to be able to survive that.

Even if every one of us were fined Bitshares X should be able to survive. Additionally if there is a lot of money made then will the fine be the worst thing in the world? It becomes just like a tax.

You know I respect your opinions. I've agreed with most of them on the forum. And I can see your point here also. Mine is that I'd like us to do this legally and get it right. SEC shoots first and asks questions later; by the time you get your day in court, you've been financially ruined and your innocence is beside the point. Why take that risk when Overstock is spending the money to solve those problems for the whole industry? Let them bridge that gap and let us jump in when the time is right. There's enough good stuff in BitShares without breaking the law.

I agree we should hold off creating bitINX but not for the same reasons. I don't think the SEC will pay any attention to Bitshares in general until we have at least passed bitcoin and all eyes are on us. imo that could be another 3-5 years so hopefully by then Overstock has come up with something. If not then we should have a big enough market to help OS make an impact. But I think the type of people we are trying to attract with bitINX won't be comfortable with it until bitassets have a track record.

I personally don't think there should be a hard cap. We don't know what the future holds and we don't know if maybe 20 years down the line we will need DCI (Delegated Capital Infusion) for something very large scale and important. A fixed percent a year is fine but a hard cap is not imo.

Quote from: Mysto on October 21, 2014, 09:05:56 am

Yea I think it was this episode where he said they won't go.
https://soundcloud.com/beyond-bitcoin-hangouts/beyond-bitcoin-community-hangout-2014-10-17

yeah i listened to it. Still think it it is unfortunate as it is a very high quality event. It is true that there are always the same ppl on the bitcoin events but this event is not primarily about crypto/bitcoin. Partnerships outside the crypto scene (financial world, credit card blabla) could be initiated. Maybe toast or Agent86 (or Arhag?) can go? At the least it is a good practice.

Yea I agree. If needed we should do a fund raiser or something.

Which one?

Edit: ah there it is.

Quote from: Mysto on October 21, 2014, 08:34:05 am

Quote from: lzr1900 on October 21, 2014, 08:28:17 am

panic bought 

Man I remember every thread I went to you were in PAIN. I don't know how you were panic buying lol.

Quote from: lzr1900 on October 19, 2014, 07:48:23 am

BTSX is falling down,falling down..

Quote from: lzr1900 on October 19, 2014, 03:42:47 pm

fuck
the price drive me crazy

Quote from: lzr1900 on October 20, 2014, 02:17:01 am

I don't know what they do behind the screen .but at this moment,really suck.

Quote from: lzr1900 on October 20, 2014, 06:29:19 am

fuck.people keep dumping shit load of btsx.kill me.

Well I guess you have identified someone willing to use the forum and his posts to shake out weak hands with FUD, using times of community's duress to capitalize.  Not necessarily saying it is "wrong"...but I sure as hell would never think to do that.

I'm not fully convinced he we spreading FUD, I think the guy was in genuine pain lol. But who knows.

I was under the impression we weren't even at the actively attract investors and users stage yet.  Weren't the bugs going to get ironed out, the new wallet designed by Bitsapphire, and THEN all the secret sauce marketing strategies would be employed?

Yea I agree that's why I said...

they need a good 1-3 year track record

They will probably have all of that stuff done before bitUSD hits its 1 year anniversary. But that's when I think people will start to take it seriously.

Quote from: Mysto on October 21, 2014, 04:28:57 am

OP
But I think this should wait. Right now we need to focus on bitUSD and getting more volume on there. If we introduce a new asset that is popular then we might have very low volume on both. If it did happen though I for one would move all of my investment from the INX into bitINX!

Edit: Also I think most people who are just short term speculating on the INX would want to be able to go from bitINX to bitUSD directly. I know it's not possible right now but would that be possible in the future?

Suppose everyone who is interested in BitUSD is already using it? How do you attract new people to use Bitshares X?

The thing is I think we still have to "prove" that bitassets will actually work. As in, they need a good 1-3 year track record before we can attract that crowd. Just look at bitGLD we thought that would attract so many "gold bugs" but it has such a low market cap. I think before we can attract people to other assets we need a good track record for at least one.

haha maybe someone should post this in the Chinese thread!