Truthcoin is underrated. I tried to jumpstart an independent effort with only basic support and it fizzled. We have a c++ implementation of the critical features but no resources to build it.

I want it to exist...

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Can we work on implementing something like this in bitshares in the future?

Prediction markets would be an excellent feature to have.

I don't think we should focus too much on merchant adoption. It never really seemed to mean much for bitcoins price, and like others have mentioned, at best it will be the merchants currently accepting bitcoin that will begin to also accept bitUSD.

1) Merchant adoption in bitcoin results in merchants having to sell the bitcoin immediately, to avoid the volatility.  Whereas with bitUSD, they dont.  So merchant adoption for bitUSD should be more beneficial to us.

2) Merchant adoption of bitUSD use means that there is more demand for bitUSD to exist -> more bitUSD existing leads to increased BTS market cap to support it.

Our situation is a bit different than bitcoin's.  Rather than adoption resulting in bitcoin sales, for bitUSD adoption results in greater demand for the asset that backs bitUSD, which is BTS.  Bitcoin doesnt have anything analogous to this. 


3) Pushing merchant adoption is important because it highlights one of our main advantages over bitcoin - the price stability. 


4) By getting merchants to adopt bitUSD, we are building our own market, our own user base.  We are growing the size of the pie that currently uses digital currencies, rather than only trying to take it from bitcoin.   


5) Actually being used is one of the most important things for maintaining a high market cap.  Bitcoin actually gets spent.  Litecoin and Dogecoin actually get spent, some places.  Ripple is actually being used by a couple banks.  We want our main use case - bitUSD, to get used a lot as well. 



Of course, bitUSD's use case as a savings account is also very valuable, and should and is being worked on. 

Recruiting of developers of other projects to work for bitshares as a paid delegate is also very valuable. 

We can do all these things at once.

Maybe more like uTorrent knocked up your bank? :p

Napster was centralized, and some users got into trouble with it.

Are you sure about the "per month" vesting? Last time I checked  I think it was daily vesting and maybe per block.

The vesting is daily.

I was just using months as an example.

Quote from: JWF on November 07, 2014, 04:41:23 am

Quote from: bytemaster on November 07, 2014, 04:11:17 am

Credit for this belongs to: John Underwood, former CEO of Sun Microsystems Australia who was visiting with us these past 2 days in VA. 
http://ph.linkedin.com/in/underwun

unofficial or official consultant?

Long term or was this a one off?

Appears this could have some nice potential for assistance.

John has been working with us and following our progress for almost a year.  We are laying the ground work for how we can work together to support the remittance industry. 

After the past two days I suspect good things to come from this relationship.

I love this new bitshares where we talk about positive developments and things that will cause growth and add value and change the world, rather than suffer through community drama.

Can someone explain vesting? If I had 730 shares of PTS at the snapshot how many shares of BTS do I have on day one of its launch? One? My understanding is that I will have 730 BTS shares, plus an additional 73 shares at 10%, after two years. Is that correct?

Your 730 PTS shares are worth X shares of BTS (I dont remember the exact numbers right now). 

On day 1 you can get none of those shares.
After 1 month you can get 1/24 of those shares.
After 1 year you can get half of those shares.
After 2 years you can get them all.


So, for example, you could claim 1/24 of your eventual BTS shares every month for the next two years, if you wanted.

Welcome N1947!  I'm glad the community has found one new member to replace the many that left due to 'dilution'.  We need more strong hands to buy the panic dumped shares of those who left.