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Messages - mdj

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46
General Discussion / Re: Moonstone.io development and crowdfunder diary
« on: April 05, 2015, 09:29:37 pm »
Quote from: bitsapphire on April 05, 2015, 09:00:56 pm
We have decided to hold the fundraiser exclusively in BTC, there won't be a BTS or bitAsset option. The reasons are that the liquidity between BTS and BTC is so low that selling 130k USD worth opf BTS into BTC to cash out into fiat would according to our calculations move the market simply too much.

Disappointing but your reasoning is certainly justified. This further emphasises how desperately we need t BTS/USD gateway! If I didn't live in a country so against cryptocurrencies I'd be pursuing that very lucrative venture...

47
General Discussion / Re: Power of the community: Price recovery action 1
« on: April 05, 2015, 08:47:47 pm »
No. Why on earth would I fire all of Bitshares' dedicated employees (who I must add are doing an amazing job)?

48
General Discussion / Re: So many posts about the price
« on: April 05, 2015, 07:31:01 pm »
Quote from: Ander on April 05, 2015, 07:21:35 pm
Quote from: mdj on April 05, 2015, 05:10:14 pm
Thoughts?

I think that chart is stupid and overused. :P

True - I mean that's most technical analysis in a nutshell however still widely used due to the self fulfilling prophecy nature

49
General Discussion / So many posts about the price
« on: April 05, 2015, 05:10:14 pm »
I know I'm adding to this but I've noticed so many posts about the price of late which makes me feel that we are well within the "despair" phase of this chart.



Thoughts?

50
General Discussion / Re: Bitshares is bleeding for a long time, should not we do something ?
« on: April 05, 2015, 04:58:41 pm »
Quote from: Marky0001 on April 05, 2015, 04:52:53 pm
how many bts will there be in total? and why is it a good thing having an emission rate of almost 1mio coins?

Absolute max is 3.6billion but likely a lot less as is determined on the number of 100% paid delegates and the amount getting burned from fees etc.
You can buy a million coins for under $6000 at todays marketcap (that's a whooping 0.04% of all Bitshares currently in existence - to give it some element of comparison that's like owning 5600 Bitcoins today).

51
General Discussion / Re: Vesting period for delegate pay?
« on: April 05, 2015, 04:48:20 pm »
Delegates selling their BTS is a very minimal impact on the price... Delegates are clearly the believers in Bitshares and if they need to sell they only do so for a reason. We're sliding as some whales disappointed in the merger are still gradually unloading. Eventually they will run out and Bitshares will begin to climb again with adopters in the new system.

52
General Discussion / Re: Bitshares is bleeding for a long time, should not we do something ?
« on: April 05, 2015, 03:45:41 pm »
Quote from: NewMine on April 05, 2015, 03:17:03 pm
Price totally matters. The core feature, the Assets, rely on price for their creation. Nobody is going to create bitUSD, aka short it into existence if they are going to lose money to do it. Then they are forced to cover within 30 days even if their long term outlook is bullish on BTS.

The system is setup for a slow death. Alienating the people who want to create assets does not help the livelihood of BTS.

Partially true and I agree downward BTS pressure makes people less likely to want to short assets into existence. However, for every seller there is a buyer and you could always buy your own short if it's just the asset without the exposure you were after.

53
General Discussion / Re: Bitshares is bleeding for a long time, should not we do something ?
« on: April 05, 2015, 02:13:47 pm »
Quote from: davidpbrown on April 05, 2015, 01:07:17 pm
Quote from: DataSecurityNode on April 05, 2015, 12:34:01 pm
Quote from: inarizushi on April 05, 2015, 10:03:02 am
What's sad is that the marketing department is dead again (at the exception of Max)... we have to find new users

Are you kidding me? Did you even read the last NullStreet update? Did you even see the trifolder handout that was put out just last week?

Probably not kidding. If you want to get new users, you have to do more than a trifold handout! That handout had zero impact on me and I expect most others. Sure it's useful but it's trivial. Sometimes it isn't about working hard but working smart. Go where the money is and make sure they know what is unique about BitShares.

If you want to get new users, you need focus that others can leverage. Let other people do the work for you.. because they want to and because you've made it easy for them to pass the message on. One place that hammers home the *unique* points about BitShares.. plaster that over the top of the forum, so there is no doubt. More of the same detail, people do not need. Keep pushing that single source of information, until it is ubiquitous.. until everyone is bored to death with it. Currently BitShares appears too complex and there are too many directions to push in.

Make buying bitUSD snappy and default in the clients, expecting that people will want that about everything else... or look to leveraging the DEX and make that the single point.. push for people to burn their LTC into BTS instead.

Community matters.. pay attention to reddit/r/bitshares and beyond.

Frankly I think the mistake could be that there's too much focus on the price, at a time when the price should not matter. Get the product working and the client fast and snappy, then sell it hard and wonder about how the price is rising.

Ye olde blitzkrieg tactic works in marketing too.. all push one point hard and the effect is more than otherwise possible. Imagine if we all spent a week in Bitcointalk instead of navel gazing.. I expect there are better ideas than that too.

 +5% Very nicely put.

54
General Discussion / Re: What's happening with the price?
« on: April 05, 2015, 01:45:12 pm »
Quote from: liondani on April 05, 2015, 01:13:09 pm

with only $37,000 24h volume we are 5% down... what does it mean? ( I ask the traders to interpret what means low volume with increased price volatility)

Low volume means there is a lot of uncertainty. Most of us on the forums have been buying all the way down and have just kept losing and losing money. We don't want to lose more so want to see if we fall again before putting more in. It's difficult to catch a falling knife but the prices are very attractive right now.

55
General Discussion / Re: Overstock wiki on how to issue a crypto security
« on: April 05, 2015, 12:11:30 pm »
Looks like the Bitshares narrative is out of date here too and mostly negative:
https://o.info/index.php/Talk:How_to_issue_a_cryptosecurity

56
General Discussion / Re: Reworking the wallet trading interface
« on: April 05, 2015, 11:05:30 am »
Quote from: cass on April 05, 2015, 09:41:39 am


Wow! I want this now! :O

57
General Discussion / Re: What's happening with the price?
« on: April 05, 2015, 09:23:28 am »
Quote from: kenCode on April 05, 2015, 09:18:08 am

Pay it like it's a bill that has to be paid.

Haha I love this one!

58
Technical Support / Re: who have the book BitShares 101?Max Wright 's book
« on: April 05, 2015, 06:23:15 am »
http://cryptofresh.com/

59
General Discussion / Re: Bitshares is bleeding for a long time, should not we do something ?
« on: April 05, 2015, 06:14:01 am »
Quote from: onceuponatime on April 05, 2015, 05:37:09 am
Did you own bitcoin when it went from $30 down to less than $2?  I did. But I didn't sell. I bought.  Later, I did sell (for over $800 per BTC) and put it all into AGS.

I believe that I made the right choices.

 +5% I bought Bitcoin in 2011 at $20 and also held for the entirety of that bear market. I haven't gone 100% BTS but certainly have the same good feeling I had about Bitcoin back then.

60
General Discussion / Re: Moonstone.io development and crowdfunder diary
« on: April 04, 2015, 07:53:07 pm »
Quote from: onceuponatime on April 04, 2015, 05:30:45 pm
Here is a copy of a PM that I sent to fuzzy:


I would really, really like to see the Moonstone fundraiser be successful.

That having been said, I will say that I am having second thoughts about being a large investor. I am worried about the value of the USD during the time of the repayment period. I think that the US is going to have to do another "quantitative easing" or do something else that will greatly diminish the value of its fiat currency.

Since Moonstone plans to convert any donations, no matter whether BTS, bitUSD, bitGOLD BTC. or whatever, at the time of donation into the fiat dollar equivalent price at that time - and then repay 1.15 times that fiat value - I think the risk to investors is greatly increased. If the fiat dollar value drops by one third, then getting back 1.15 times the dollar value of my donation is not very appealing.

If Moonstone would both accept bitGOLD and repay 1.15 times the bitGOLD investment - that would alleviate my concerns. And they could hold funds in bitGOLD except what they HAD to convert to another form for project purposes as the need arises.

I would like to hear Taulant's input on this fear of mine. Otherwise, I'm afraid my investment will be less than I would hope.

Agreed - it is a lot of risk to take on for a potential 15% (which could take a very long time). I'd much rather it if moonstone took an approach of say selling 20% of equity in the company/product at the crowdfunder with no buyback (with an IPO for the equity share on the internal exchange)

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