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Why do you not just turn the pay rate to 3%? Ask to get voted out and continue to sign blocks until you get voted out. That would set a nice precedent on how to handle a change in delegate status.
I really like these changes! Well done all those who contributed to this idea!!
Improvements:
* No forced cover at any particular amount of time. (30 day rule is gone). The least collateralized short may be "margin called" with 24 hour notice by the bitAsset longs, but they have to pay him 1% to do so at least.
* bitAsset holders can be guaranteed a return with only 1% loss in 24 hours, which is much better than up to 30 days!
* Probably a better peg!
* Collateral is much more fair, even colalteral between shorts and longs, instead of favoring bitAsset longs.
We are going through a process of testing and improving the bitshares product. This iteration will be superior to the previous one.
Some might have noticed already, that the devs are quite "silent" at the moment.
IMHO they are up to something very big in the near future and are coding in a private repo or offline for it. I can't tell (because I don't know)
buy I make a guess .. or two.
Here we go (pure speculation):
- devs are assisting a bigger player to get a gateway going with the new UIA features right from the start
- devs are adding are adding new profitability to the DAC (like a referal program) and want to publish the "secret sauce(tm)" to competitors (btw, who in here can remember that multi pools have been an idea of THIS community that was adopted by blackcoin faster?)
- they are working on a roadmap (lol)
- maybe they bought an island and drink cocktails
- webpage upgrade v9.0
What are your thoughts?
Guys, you are stuck with the idea of alternative BitUSDs. In this point of time, nobody would even try to compete with the original BitUSD. It just makes no sense.
Instead try to imagine User Pegged Assets as a feature, which enables creation of BitIndexes and BitStocks. Wouldn't this be useful?
The peg Assets is 2 products and 2 private companies competing. Like same toothpaste, but different company Colgate and Pepsodent.
Like Bitcoin, litecoin, peercoin, dogecoin, feathercoin, justacoin, weiredcoin, all the NXT clones, etc.
Yes, and Bitshares is the Blockchain, all these are Assets and they pay fees.
BitReserve have their own BitGold, so will BitGold.com and soon many 2.0 crypto-currencies including Ethereum will probably have their own decentralised versions. (There are also multiple USD products on the market.) They will all be competing to become the dominant digital gold.
It will probably end up with the same type of distribution as Bitcoin where the market leader has 80%+ market share.
Introducing BitGold competitors onto our own blockchain would mean our BitAssets would not only have to try and get market share from every other contender on the market but will even have to cannibalize the BitShares customer base.
I think BM realises this, but hopes free market competition would rapidly find the best BitAsset model for BTS which will then also be competitive against all the other competitors.QuoteUltimately the market would settle on one or two variants and the rest would die off or be special purpose.
The peg Assets is 2 products and 2 private companies competing. Like same toothpaste, but different company Colgate and Pepsodent.
Like Bitcoin, litecoin, peercoin, dogecoin, feathercoin, justacoin, weiredcoin, all the NXT clones, etc.
pegged assets are already hard enough to convince people to hold .
Now private peg assets with the ability to "fail" , and they'll market it as "the good stuff on BitShares" under the enormous financial incentive , and avoid promoting BitUSD .
Once most of the private assets starts to fail , people will only remember : The peg theory of BitShares is bullshit .
By then , even you have BitUSD left , BitUSD will be automatically rejected as well by a lot of users who just suffered from private USD .
Ok, that's the negative views, what about the positive views?
Imaging the head line :
Today , "JoeLe_USD is the next generation payment system "
Tomorrow , "wildpig_USD is the next generation payment system "
The day after tomorrow , "BM_USD is the next generation payment system " .......
Everyone has incentive to promote their USD .
Users : holy cow , what kind of game are you playing ?
So in the future there will be many pegged 'USD' products competing in the system.
Now, with the only bitUSD, we supports it because it's OUR product. With all of us supporting the only one bitUSD, there are still liquidity issues.
In the future, with many USD products, every issuer supports her own USD product. The relationship among BTS holders become competing but not cooperation.
I don't think it's a right thing we should focus on now, or any time soon. We have very very limited resources indeed, why not focus on the core product?
20 Proven Reasons Why Competition Is Good
http://businessgross.com/2013/01/21/business-competition/
You can end up cannibalizing your own customer base and creating a lose-lose situation. Walmart is currently experiencing this problem because they have built many stores too close together.
http://www.investopedia.com/terms/m/marketcannibilization.aspQuoteThe negative impact of a company's new product on the sales performance of its existing related products. Market cannibalization refers to a situation where a new product "eats" up the sales and demand of an existing product. This can negatively affect both the sales volume and market share of the existing product. Market cannibalization occurs when a new product intrudes on the existing market for the older product, rather than expanding the company's market base. Rather than appealing to a new segment of the market and increasing market share, the new product appeals to the company's current market, resulting in reduced sales and market share for the existing product.
pegged assets are already hard enough to convince people to hold .
Now private peg assets with the ability to "fail" , and they'll market it as "the good stuff on BitShares" under the enormous financial incentive , and avoid promoting BitUSD .
Once most of the private assets starts to fail , people will only remember : The peg theory of BitShares is bullshit .
By then , even you have BitUSD left , BitUSD will be automatically rejected as well by a lot of users who just suffered from private USD .
So in the future there will be many pegged 'USD' products competing in the system.
Now, with the only bitUSD, we supports it because it's OUR product. With all of us supporting the only one bitUSD, there are still liquidity issues.
In the future, with many USD products, every issuer supports her own USD product. The relationship among BTS holders become competing but not cooperation.
I don't think it's a right thing we should focus on now, or any time soon. We have very very limited resources indeed, why not focus on the core product?
I'm in several bands/ music projects some of which are on indie labels and work directly with international PR firms. I'm very interested to see where this is going.. if done correctly it could be huge. IMO one big challenge will be for Peertracks to make it easy for people to purchase NOTES.. if they can do direct purchases using Paypal or credit card through Moonstone that would break the barrier to entry for the non-crypto crowd and it could take off in a big way.
Notes are mostly for investors but I thing even more important are the music fans and they do not need to buy Notes at all, what they need it to buy artistcoin most of them will not even know what notes are for. They just need to deposit money easily so basically they will buy bitUSD. I think this part it is essential to the success of the project. I'm not sure how this is gonna work, but fans should be able to use Paypal or credit cards for deposit and withdrawing. If this will not happen then Peertracks will be another crypto project and only a few will ever hear about it.
To be honest I'm not sure how Notes will gain value now I read the http://whatarenotes.info/ but I'm not convinced. Notes will not be used as collateral for notesUSD anymore which is fantastic for Bitshares but I'm not sure how good is this for the value of Notes. One thing is for sure if Peertrack is a success this will help the Bitshare a lot.
