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General Discussion / Re: BitShares X Status Update
« on: March 13, 2014, 07:43:41 pm »Better have a perfectly working system instead off rushing some arbitrary release date ..
I dont see mastercoin as competitor
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Better have a perfectly working system instead off rushing some arbitrary release date ..
Buying AGS is more useful than mining, except to power companies.Also, since PTS is basically an investment vehicle and not an instant payment system, I don't really care if blocks take 30 minutes or an hour. Additionally, if the PTS mining is slower, that means that the PTS I already have will command a higher share in new DACs released before all PTS are mined.
Adjusting the block targeting system would require forking, and hardly seems justified. The current system is working predictably, and no one is being cheated or harmed. I expect the market price of PTS to continue rising overall until the next snapshot, and the difficulty will eventually correct. Unfortunately the price of PTS already seems to be rising and I'm still waiting on Coinbase for my BTC.
Immoral because people can hoard it?
1. By hoard you actually mean the fact that people can save it, and maintain their value without being forced into our current corrupt system. (Which right now is so bad, inflation is actually higher than the interest you'd get in most savings accounts.)
2. You know that also means your against Bitcoin? Bitcoin is a deflationary currency which lets people do the same thing.
The opposite is happening to your argument, the more people use Bitcoin the more it is spent not hoarded.
Also if you look at America from 1800-1913 they rose rapidly to become the most successful & biggest creditor nation in the world using gold. I don't think I need to explain to you how things are now pretty much the exact opposite now, a hundred years on in a world where the dollar has lost 96% of it's original value.
Introducing a central bank was bad enough but at least they had some link to gold.
Look what happened after the dollar left the gold standard completely.
Only one small group has ever benefited from fiat/inflationary currency...
In order to go short BTC you have to leverage up on BTS which means your bet is that BTS will go up relative to BTC... if they are both in a bubble at the same time (larger crypto-equity bubble) then the current BitShares X system will probably have little effect.I think an exchange without possibility shorting BitUSD against BitBTC, BitGold, BitEUR etc. would not be complete. Is there really an intention to release such chain in foreseeable future?
To do what you want to do would require that BitShares X support going Short BitBTC using BitUSD as collateral. This is not currently possible, though with some work we could enable such a thing.
Nobody knows the date of start. It depends on development. Maybe 3-5/2014?
Folks,
I still have a few questions about this valuation information:
* When will Bitshares start trading, and could this be delayed?
* Will protoshares cease to exist at that time, having been converted to Bitshares?
* As far as people that really understand this stuff, what is your target position for how much you be your target holdings?. For example when the funding round closes, what percentage of your capital will be Bitcoin vs protoshares vs angel shares? Is anyone going mostly all in with angel shares?
* Will the security of Bitshares be equal to the Mining of Bitcoin?
* Once the financing round closes in a few months, would, or could there ever be any more Bitshares put into the economy?
* Still struggling to understand who is paying this Bitshare interest. What controls how much this will be? Will it be the amount if interest and activity in futures contracts?
Thanks!
Brent Allsop
It reflects the price, otherwise it would have no sence. Shorting CFD when real share price is going up means that you lose money.What about the possibility of shorting shares of a company via Bitshares and then attacking that company in the real world making the price of the company shares drop? Due to the anonymous nature of BTS the attacker with his short position could get away with it and take huge profits... Think of airlines....I think it is not possible because on Bitshares such a share is not real share but only CFD.
CFD is something like bet on price.
https://en.wikipedia.org/wiki/Contract_for_difference
But if reflects the price of the real share....
What about the possibility of shorting shares of a company via Bitshares and then attacking that company in the real world making the price of the company shares drop? Due to the anonymous nature of BTS the attacker with his short position could get away with it and take huge profits... Think of airlines....I think it is not possible because on Bitshares such a share is not real share but only CFD.
The argument that is always made is against merchants accepting Bitcoin for payment is its volatility.I agree. I feel that to be able to use BitCurrencies for everyday payment is the key. But it depends on legality and that will be o big problem.
What no one is talking about yet is that Bitshares solves this problem - merchants can simply accept BitUSD as payment (and receive a great 5% interest on all their sales deposits).
Perhaps you just need one big merchant to do this, and who knows what could happen to the price...
I haven't thought it through that much but it seems like the main reason people are holding PTS right now is because it entitles them to some oh so sweet dividend paying Bitshares.I think it depends on success of Bitshares X. Success should bring attention. Something like " new projects are coming in near future"
Do you think PTS price will collapse after III launches Bitshares X?
If we donated from both pts and btc address, will it be possible to import both private keys into the bitsharex account at the same time to claim our ags?
Please include the fee info in the updatebeeeeer:
web: ptsweb.beeeeer.org fee 2,5% payout 0.2
PTSpool:
web:http://ptspool.com/ fee 4% payout 3
ypool:
web:http://ypool.net/ fee 6% payout 1
1Gh
web: http://pts.1gh.com/ fee 3.5% payout 0.1