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Messages - blahblah7up

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151
General Discussion / Re: inactivity fee and security
« on: October 17, 2014, 01:35:24 pm »
It doesn't make sense to me. The fee will force people either sell their unclaimed stakes or transfer the stakes once awhile , neither way you can get 5% fee from them, unless they don't know about it at all. Which means although this can be announced as widely as possible but the punishments will only drop to the people who hasn't heard it, it still feels morally not right.

People with unclaimed stakes paid for their stakes as everyone else, they are being more supportive to the whole market than the dumpers at least.

A fee that can be avoided with a as little work as importing your wallet and making a single transaction is not really a fee.    All future DACs will have a much stronger inactivity fee: losing 100% of your stake over 12 months if you don't get involved within the first 3 months.   This is a good way to drive new users to try out your DAC and gain adoption.  Otherwise many people may not even bother trying a new DAC.... silent partners if you will.     

Thanks for the clarification, but I am a little confused because of the quote above from a couple days ago.  I assume you were responding to BTSX. I was referring to BTSX.

If all future DACs will have this inactivity fee, how then will that be implemented

152
General Discussion / inactivity fee and security
« on: October 17, 2014, 01:18:36 pm »
The inactivity fee has been discussed a lot.  What I am curious to ask is how it will be technically implemented and what the implications of that are for security.

Imagine I make a cold storage wallet and send funds there which I leave for 2 years.  If only I hold the private key to that account, how will the balance of that account be accessible to others (the developers I assume) and changed if the inactivity fee has been implemented.


153
General Discussion / Re: about inlfation of the dollar and bitUSD
« on: October 17, 2014, 01:11:39 pm »
So then i get 108.5 USD, but inflation was 10%, so the vaule of my USD after that year is now 97.65 USD.

No, the value of your USD is 108.5 USD.  Only they buying power of that USD has changed.

154
General Discussion / Re: Ebay and Open Bazaar - maybe wrong target
« on: October 15, 2014, 04:52:36 pm »

For now merchants accepting bitUSD need be already motivated to stay in crypto AND want the value stability of USD.  Merchants all over are already accepting BTC and converting to USD so unless they have a reason not to want to hold fiat, bitUSD won't likely appear to hold much extra value proposition than their current setup.


This is the extra value proposition:

https://bitsharestalk.org/index.php?topic=10046.0

155
General Discussion / Re: Latest Bitcoin news - Caution Alert
« on: October 10, 2014, 01:50:49 pm »
@Adam

did you actually read the chatlogs?  Dogeparty is listed in there as well.   :o

156
I personally think the potential flood-gate for onboarding users is the yield.
I don't think there is an institution in the entire world that is in a position to offer something like that right now.
And Dan & Co. have figured out how to do that.  Congratulations.

That said, for it to work it will have to be really, really, REALLY dumbed down.
I think when a person works in a particular field for some time everything starts to look very easy and second nature.
But I personally don't know anyone over 60 who does online banking for example.
I hope the real capabilities of the demographics is being well considered.
Of the aforementioned baby-boomer generation, something like downloading and installing a client is probably already a huge overestimation of what the majority will know how or be willing to do.

157
General Discussion / from client to competitor
« on: October 06, 2014, 10:04:37 pm »

158
General Discussion / Re: How much is a new user worth?
« on: October 05, 2014, 11:26:28 am »
Let bytemaster decide what is the best solution. If you start a voting, half of the people will have no clue what they are doing. I only trust bytemaster. He brought us here and is the captain.
 

I completely agree with this.  But do you understand that this proves DPOS is not viable as a self-sufficient system for intelligent consensus?

159
General Discussion / Re: DPOS thought
« on: October 04, 2014, 10:21:02 pm »
Yep.  It's exactly flawed as humanity is flawed.

This is like watching the wheel be reinvented.

But it is very astute of you to look further into the future.  When all the founders are gone and the leaders have changed the only thing left will be the apathetic will of the majority, easily coerced and mislead by elaborate delegate campaigns.  And in this new "democracy" there's not even a constitution to violate!

160
General Discussion / Re: How much is a new user worth?
« on: October 04, 2014, 03:26:30 pm »
Folks are getting a bit short-sighted here.

The problem with diluting is that it sets precedent.

Diluting under the wise and benign rule of BM seems like a good idea because it satisfies short-term greed with no perceived downside.

Bitshares just prints some money to boost the economy.

Sound familiar?

Dilution, inflation, debasement... whatever you want to call it, the end result is always the same.

I state categorically that I3 and the Bitshares community have a moral imperative not to inflate/dilute/debase the share supply.

Doing so is akin to voting to be infected by a disease that will slowly kill BTSX.

A few will get wealthy in the short term, the masses will suffer in the long term.

We do not want to become the US Gov.

I3 has ample development funds that if spent wisely will get Bitshares to critical mass.

They need to get the client/trading platform sorted, phone apps pushed out, fiat gateways in place.

Then do a simple marketing campaign to the crypto crowd and perhaps a non-crypto-but-tech-savvy demographic (ie. Gen X/Y).

This should cause the market cap to increase substantially.

At that point, once the 'hey look at us' marketing is exhausted, they could consider using a referral system or other shenanigans to engage other demographics.

Low hanging fruit first.

Thank you OldMan! An insightful voice of clarity and reason!

161
General Discussion / Re: How much is a new user worth?
« on: October 03, 2014, 12:59:51 am »
Suppose you make sure the tech is very pretty and functional and there are onramps available just like the credit card you have.
Suppose you pay $10,000,000 and have Beyonce sing a song about Bitshares.

Net result:
you save $90,000,000
you don't have to inflate the currency
and you gain at least 10,000,000 users overnight

I mean seriously...

anyone remember this:
https://www.youtube.com/watch?v=o0Wvn-9BXVc

There are so many ways to do incredible marketing.  Can someone explain the fervent push on all fronts this week to inflate the currencies before ANY marketing campaign AT ALL has launched and the effects thereof can be evaluated? 

162
General Discussion / Re: Proposed Future DAC Delegate Pay Model
« on: September 29, 2014, 06:11:18 pm »
and so the first DPOS CEOs are born?  :)

163
General Discussion / Re: Proposed Future DAC Delegate Pay Model
« on: September 29, 2014, 05:32:20 pm »
I'm referring to how I think things are running now of course.  I don't know how many delegates are currently competent directors employing others managing the IT side of the operation.

164
General Discussion / Re: Proposed Future DAC Delegate Pay Model
« on: September 29, 2014, 05:28:06 pm »
I didn't know network specialists made for qualified directors either.

165
General Discussion / Re: Proposed Future DAC Delegate Pay Model
« on: September 29, 2014, 04:56:43 pm »
You don't seem to be getting the reason why I want a separation of roles between delegates and other workers of the DAC. If some magic consensus technology meant delegates weren't necessary, that would be ideal. I would still want to have workers that are paid by the DAC to improve it. Delegates to me are only necessary to make the consensus technology work. In my opinion that should be their only role.

Let me put it another way. To me delegates are not the board of directors of the company. They are the machinery of the company that unfortunately needs a human element to it. In my proposed system, either there is no board of directors at all and the company is run by code that is modified in limited ways by shareholders directly with their votes, or alternatively shareholders could even appoint specific workers through the proposal system to act as a limited board of directors that get to direct some of the decisions of the DAC. Either way, the delegates should have a very limited role in my view. I don't want shareholders choosing delegates because of the promises they provide on how they will improve the DAC. The only promise I want the delegates to fulfill is to keep the DAC running and not collude to filter transactions or double spend. In my view, complicating their role adds new attack vectors for malicious actors to trick shareholders into voting for their delegates.

This is so fundamental.  Delegates will be network specialists by default.  But that does not in the least qualify them to be decision makers for the direction the DACs should take.  It is a question of competencies and qualifications...yes, they exist!  Does the network administrator for an online national ballet archive need to know which choreographer is the best to invite for this year's presentation?

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