However after closely watching several hundred startups that have failed, I observed that a very large number of these had solved the product/market fit problem, but still failed because they had not found a way to acquire customers at a low enough cost.
I would like to propose that in addition to team, product, and market, there is actually a fourth, equally important, core element of startups, which is the need for a viable business model. Business model viability, in the majority of startups, will come down to balancing two variables:
Cost to Acquire Customers (CAC)
The ability to monetize those customers, or LTV (which stands for Lifetime Value of a Customer)
Successful web businesses have long understood these metrics as they have such an easy way to measure them. However there is a lot of value in looking at these same metrics for all other businesses.
To compute the cost to acquire a customer, CAC, you would take your entire cost of sales and marketing over a given period, including salaries and other headcount related expenses, and divide it by the number of customers that you acquired in that period. (In pure web businesses where the headcount doesn’t need to grow as customer acquisition scales, it is also very useful to look customer acquisition costs without the headcount costs.)
To compute the Lifetime Value of a Customer, LTV, you would look at the Gross Margin that you would expect to make from that customer over the lifetime of your relationship. Gross Margin should take into consideration any support, installation, and servicing costs.
+5%
That is exactly what I experienced with the tests I ran on Facebook and Twitter. The cost per conversion is too high.
We are not selling socks here. We are selling a pre version 1 software that most people don't understand why they would need that in the first place.
The affiliate system would be a great way to recruits entrepreneurs and businesses who would then go ahead and gain users.
But running ads to attract users to understand bitshares core is a losing game. (It is still valuable to create content and be involved in the media but direct marketing for bitshares core...nah)
Services like MineBitShares, Moonstone, Limewallet, etc are project that could flourish if they gained an affiliate compensation for bringing in users (may reduce the need to go all out politic and run for a delegate position too).
Curious to know how that plan would be funded.
Any thoughts?
What can BitShares do for me? How easy is it to jump on there and make it do what I want? The most important thing is getting the user experience right. The light wallets and on/off-ramps, etc., can make this thing easier to use. I understand the cost-per-user calculation, but what about a pain-per-gain calculation?
At the moment, the pain is the huge freaking hassle of getting started with gateways and exchanges and Bitcoin and then having to arm-wrestle this client, etc. And that's if you even understand how this thing works. To get that far, you'd need to see some value for yourself from the gain side of the equation also.
That side of the equation is simpler, though, since BitShares offers a great deal: instant transactions, nearly zero cost, market-pegged cryptocurrency, plus the upcoming possibilities with user-issued assets, and a ton more. So if people actually understand it, the gain side is monumental; this technology is earth-shattering and transformative. But the pain side still makes these benefits very hard to sell, even when one successfully manages to explain one or more of them.
I'm not only hanging on here, but I just increased my BTS holdings by 10%. I think this is going much, much higher, but it's not easy to change the world.
We have a well thought out referral program that will be game changing and that cannot be gamed.
Its the user experience. People can understand concept, but the execution is the issue.
+5%
That is exactly what I experienced with the tests I ran on Facebook and Twitter. The cost per conversion is too high.
We are not selling socks here. We are selling a pre version 1 software that most people don't understand why they would need that in the first place.
The affiliate system would be a great way to recruits entrepreneurs and businesses who would then go ahead and gain users.
But running ads to attract users to understand bitshares core is a losing game. (It is still valuable to create content and be involved in the media but direct marketing for bitshares core...nah)
Services like MineBitShares, Moonstone, Limewallet, etc are project that could flourish if they gained an affiliate compensation for bringing in users (may reduce the need to go all out politic and run for a delegate position too).
Curious to know how that plan would be funded.
Any thoughts?
This year we will go further beyond today's BitShares than BitShares is beyond Bitcoin.
(It's not like we have only two years' worth of innovation in us, you know.)
We are just getting started.
How can I be of assistance here?+5%
That is exactly what I experienced with the tests I ran on Facebook and Twitter. The cost per conversion is too high.
We are not selling socks here. We are selling a pre version 1 software that most people don't understand why they would need that in the first place.
The affiliate system would be a great way to recruits entrepreneurs and businesses who would then go ahead and gain users.
But running ads to attract users to understand bitshares core is a losing game. (It is still valuable to create content and be involved in the media but direct marketing for bitshares core...nah)
Services like MineBitShares, Moonstone, Limewallet, etc are project that could flourish if they gained an affiliate compensation for bringing in users (may reduce the need to go all out politic and run for a delegate position too).
Curious to know how that plan would be funded.
Any thoughts?
I have it all figured out and am working on documenting it so it can be reviewed.
bugs still exist in the market place, according to the designed rules, some BitUSD/BTS orders should be traded but now they do not, even the old users are disappointed for this, please try to fix the bugs ASAP.
I would highly advice to have deterministic wallets, that don't require saved file. For some people restoring a backup is just way too stressful. In fact many thought that password was all that was needed and got burned when not also backing up the wallet file. I still think a big deterrent is the lack of good user experience. I've ran it on all 3 platforms and have various problems that I could manage as a power user, but know would scare the crap out of a newcomer. I think fixing the bugs is definitely a major step in the right direction of reducing the cost of user adoption
bugs still exist in the market place, according to the designed rules, some BitUSD/BTS orders should be traded but now they do not, even the old users are disappointed for this, please try to fix the bugs ASAP.
bugs still exist in the market place, according to the designed rules, some BitUSD/BTS orders should be traded but now they do not, even the old users are disappointed for this, please try to fix the bugs ASAP.
+5%
we are selling top notch bicycles without wheels and we are wondering why we have not enough sells...
I guarantee you:
1)even if we raise the salary of our bicycle sellers (we already tried that with the merge)
2)even if we use fancy colors to attract more buyers
3)even
4)even
5)...
6)...
7)...
...
...
I bet we will not have much better results if we don't...
Install the fu#@# wheels >:(
Think simple NOT complicated
(http://stompernet.com/products/wp-content/uploads/2012/01/bicycle2.jpg)
In our case the cost to acquire a new user is currently well over $100, we need to find a way to fund that while lowering costs.
make the trade experience simple as it is on traditional centralized on-line exchanges
bugs still exist in the market place, according to the designed rules, some BitUSD/BTS orders should be traded but now they do not, even the old users are disappointed for this, please try to fix the bugs ASAP.
+5%
we are selling top notch bicycles without wheels and we are wondering why we have not enough sells...
I guarantee you:
1)even if we raise the salary of our bicycle sellers (we already tried that with the merge)
2)even if we use fancy colors to attract more buyers
3)even
4)even
5)...
6)...
7)...
...
...
I bet we will not have much better results if we don't...
Install the fu#@# wheels >:(
Think simple NOT complicated
(http://stompernet.com/products/wp-content/uploads/2012/01/bicycle2.jpg)
+5% haha, you said it better in less words then me :D
bugs still exist in the market place, according to the designed rules, some BitUSD/BTS orders should be traded but now they do not, even the old users are disappointed for this, please try to fix the bugs ASAP.always..
We have a well thought out referral program that will be game changing and that cannot be gamed. I would like to thank Max for inspiring our solution the details of which will come out as part of a new white paper. We will be increasing transaction fees, offering bulk discounts, and overall creating a system that will highly reward businesses and merchants that bring us customers.
Please consider adding the ability for the referrer to give a portion of his transaction earnings to his referees. Add this because it allows referrers to incentivize potential users to sign up with the referrer's code/link.
"Sign up with my link and get 2% off transaction fees for life".
This is like the "trade spend" concept we see in CPG businesses.
IMO there is only one way out of this situation: deliver a usable product and user experience. It won't be an easy path to go, but it is the only sustainable solution. If we succeed to do that we can start promoting our product.
Interesting ideas.
Interesting ideas.
Thanks. Please also consider pooling a portion of the DAC's earned transaction fees to offer bonus contracts between the DAC and the referrer.
For example:
1. If you earn 50,000 BTS in transaction fees for the DAC, the DAC will send you an additional 5,000 BTS
2. If you are a top 10 referrer for the DAC, you will receive a portion of the annual "smart bonus pool".
The 1st top referrer earns 42% of the bonus pool. 20% for 2nd, 10% for 3rd, 3% for 4th through 10th.
These would be equivalent to bonuses for salespeople at a tech startup, or growth program contracts between manufacturers and distributors.
Please consider adding the ability for the referrer to give a portion of his transaction earnings to his referees. Add this because it allows referrers to incentivize potential users to sign up with the referrer's code/link.
"Sign up with my link and get 2% off transaction fees for life".
This is like the "trade spend" concept we see in CPG businesses.
Interesting ideas.
basically the devs are giving up?i think they are developing as usually
I only try to figure out the "reason" for their posts lol
Im willing to convert my site to use bitshares payment gateway to accept bitassets and auction off real goods.. if i had a delegate i cam create non reserve auctions which will almost gaurantee new users coming in .. current site is http://devcoinauctions.com... ive already added bitshares payment gateway to it to buy bids or sell bids.. its uses websockets to update order statusWhat if instead of going for a delegate, you had a compensation for every new user you bring in? :-)
so can handle many more users with the same server than conpetitors.
The cost? 1 delegate.. the payoff? new users every month! i cam track new users which must buy into bitshares to use it so we can see weekly trends on how successful it is.
Im willing to convert my site to use bitshares payment gateway to accept bitassets and auction off real goods.. if i had a delegate i cam create non reserve auctions which will almost gaurantee new users coming in .. current site is http://devcoinauctions.com... ive already added bitshares payment gateway to it to buy bids or sell bids.. its uses websockets to update order status
so can handle many more users with the same server than conpetitors.
The cost? 1 delegate.. the payoff? new users every month! i cam track new users which must buy into bitshares to use it so we can see weekly trends on how successful it is.
Focus on BitUSD and other currencies/assets. I want it to be easier to put my money in BitUSD or BitGLD and just hold. What I want is a iPhone wallet, where I can send my Bitcoins and inside of the wallet, trade my Bitcoins for BitUSD with two options, automatically with METAEXCHANGE, or with people online or nearby. That way you are creating your own on-ramps. Say I'm in USA and I need USD, I search for users nearby, then I contact one asking to trade them in BitUSD or Bitcoin or whatever asset they want. I get my USD and they get their Bitasset. IS THAT TOO HARD? All you need is to make a iPhone and Android wallet app with this capability. I've going to +5% my own post. :)
I question the premise of the OP.
BitShares cannot "take off" while bitcoin and the rest of crypto are in a bear market.
In other words the only thing that can keep this ship moving forward is additional funding and a change to the business model of the DAC that so that it can generate more revenue per user than it costs to acquire a new user.
...
In our case the cost to acquire a new user is currently well over $100, we need to find a way to fund that while lowering costs.
I did add bitshares gateway for free and will Accept it and rebrand the business for free.. the delegate is used for inventory not to pay myself.. its essentially a marketing delegate because people will want to join to have a chance to win things for a fraction of retail cost.Im willing to convert my site to use bitshares payment gateway to accept bitassets and auction off real goods.. if i had a delegate i cam create non reserve auctions which will almost gaurantee new users coming in .. current site is http://devcoinauctions.com... ive already added bitshares payment gateway to it to buy bids or sell bids.. its uses websockets to update order status
so can handle many more users with the same server than conpetitors.
The cost? 1 delegate.. the payoff? new users every month! i cam track new users which must buy into bitshares to use it so we can see weekly trends on how successful it is.
You illustrate what i start to think might be a problem with bitshares: no one wants to do something for bitshares for free. BM mentioned being managed as a startup is an advantage, but it seems to have a cost. People want to develop and help bitshares, but the pre condition is to be a delegate.... it is a problem because enthousiasm, conviction and grass root movement could be the key to success for bitcoin's successor. Linux'devs didn't develop linux to get paid, but because they liked it! They didn't think about user acquisition, they just did their thing. And look what has come out of it!
Im willing to convert my site to use bitshares payment gateway to accept bitassets and auction off real goods.. if i had a delegate i cam create non reserve auctions which will almost gaurantee new users coming in .. current site is http://devcoinauctions.com... ive already added bitshares payment gateway to it to buy bids or sell bids.. its uses websockets to update order statusWhat if instead of going for a delegate, you had a compensation for every new user you bring in? :-)
so can handle many more users with the same server than conpetitors.
The cost? 1 delegate.. the payoff? new users every month! i cam track new users which must buy into bitshares to use it so we can see weekly trends on how successful it is.
I think that's the idea behind a referral program.
Class 3 above is especially interesting, as it suggests a stable market for bitUSD and others like bitGBP might arise, and yet still not require Government intervention. Those tokens would be pegged by consensus to the USD and GBP; Governments would continue to define the value of those fiat currencies and their digital equivalents would follow. What is interesting then is the potential for those tokens not just to be bought; sold; and shorted, as they are now, but later that they could become useful as currency - that is as communication of value. That suggests potential in Class 3 to prove more useful than Bitcoin even, because of that value relating directly to those real world currencies. That such digital token equivalents exist, would not necessarily affect their real counterpart in a bad way. Indeed having bitGBP, would enhance the status of the GBP directly. There is then opportunity here for the UK.gov to enable bitGBP to become de facto digital currency.
I will take advantage of this thread being used for showing what people want in bs and add my opinion: Originally I came to BitShares because I was looking for a platform allowing easy trading of stocks (particulary indexes). BitUSD is a huge thing, I love it, but it needs merchant adoption to be useful. Trading stocks would be hugely beneficial alone, because the cost for an ordinary mortal to enter the stock market is quite big. If we had (pegged) stocks trading platform, we would get plenty of users AND we would have a use case for bitUSD. Also when trading bitUSD <=> bitStocks, you don't need gateways as desperately as we do now, because you only enter once, then gamble the market or hold for an extended period of time, and leave once a while after making some profit.
tldr> BitShares were supposed to be a trading platform. Trading currencies is a gamble, nobody (few) wants to do that. We need bitStocks! bitIndexes in particular..
I will take advantage of this thread being used for showing what people want in bs and add my opinion: Originally I came to BitShares because I was looking for a platform allowing easy trading of stocks (particulary indexes). BitUSD is a huge thing, I love it, but it needs merchant adoption to be useful. Trading stocks would be hugely beneficial alone, because the cost for an ordinary mortal to enter the stock market is quite big. If we had (pegged) stocks trading platform, we would get plenty of users AND we would have a use case for bitUSD. Also when trading bitUSD <=> bitStocks, you don't need gateways as desperately as we do now, because you only enter once, then gamble the market or hold for an extended period of time, and leave once a while after making some profit.
tldr> BitShares were supposed to be a trading platform. Trading currencies is a gamble, nobody (few) wants to do that. We need bitStocks! bitIndexes in particular..
basically the devs are giving up?
I only try to figure out the "reason" for their posts lol
metaphor again :P :P :Pbasically the devs are giving up?
I only try to figure out the "reason" for their posts lol
How can we tell when a volcano will erupt?
Most volcanoes provide various types of warnings before eruptions begin. Although an explosive eruption could occur without warning, some premonitory events more likely will precede the next eruption. Steam-blast eruptions could occur with little or no warning as superheated water flashes to steam; magmatic eruptions, however, involve rise of magma toward the surface. Such an upward movement of magma normally will generate detectable earthquakes, may deform the ground surface, and may cause anomalous heat flow or changes in the temperature and chemistry of the groundwater and spring waters.(http://www.slate.com/content/dam/slate/blogs/bad_astronomy/2015/03/31/cantu_volcano.jpg.CROP.original-original.jpg)
Thanks everybody for making this a very constructive thread.
You might be amazed how many of your suggestions are "conceivable".
In other words the only thing that can keep this ship moving forward is additional funding and a change to the business model of the DAC that so that it can generate more revenue per user than it costs to acquire a new user.
...
In our case the cost to acquire a new user is currently well over $100, we need to find a way to fund that while lowering costs.
Surely this is wrong!? Are those really the only options?
Surely there is an option to consider more carefully how you are selling what you have? You don't necessarily need additional funding or to make a change to the business model.
...
Thanks everybody for making this a very constructive thread.
You might be amazed how many of your suggestions are "conceivable".
You need to think BIGGER, Pinky... ;)
Please consider adding the ability for the referrer to give a portion of his transaction earnings to his referees. Add this because it allows referrers to incentivize potential users to sign up with the referrer's code/link.
"Sign up with my link and get 2% off transaction fees for life".
This is like the "trade spend" concept we see in CPG businesses.
Interesting ideas.
Please consider adding the ability for the referrer to give a portion of his transaction earnings to his referees. Add this because it allows referrers to incentivize potential users to sign up with the referrer's code/link.
"Sign up with my link and get 2% off transaction fees for life".
This is like the "trade spend" concept we see in CPG businesses.
Interesting ideas.
Promotions are also huge for getting consumers to take the leap. If we were to consider adding promotional incentives, then the contracts between referrer and referee should be allowed to be set to a "limited time offer".
For example:
"Sign up with my link within the next ten minutes and get %10 off transaction fees for the next two months"
Please consider adding the ability for the referrer to give a portion of his transaction earnings to his referees. Add this because it allows referrers to incentivize potential users to sign up with the referrer's code/link.
"Sign up with my link and get 2% off transaction fees for life".
This is like the "trade spend" concept we see in CPG businesses.
Interesting ideas.
Promotions are also huge for getting consumers to take the leap. If we were to consider adding promotional incentives, then the contracts between referrer and referee should be allowed to be set to a "limited time offer".
For example:
"Sign up with my link within the next ten minutes and get %10 off transaction fees for the next two months"
Further - there could be promotional offers in USD and GOLD.
"Sign up within the next ten minutes and get a free $5 worth of gold" ($5 worth of bGOLD could be escrowed and then released to referee upon sign up)
If we sitting on a $100 acquisition fee/user:
Social network ID verification,
Install client,
Get free 20bitUSD,
Make a transaction of over 5bitUSD --> get another 15bitUSD
Get a friend to sign up and send them 5bitUSD --->get another 15bitUSD.
Like dropbox ;D
If we sitting on a $100 acquisition fee/user:
Social network ID verification,
Install client,
Get free 20bitUSD,
Make a transaction of over 5bitUSD --> get another 15bitUSD
Get a friend to sign up and send them 5bitUSD --->get another 15bitUSD.
Like dropbox ;D
Totally agree. options would be great.I will take advantage of this thread being used for showing what people want in bs and add my opinion: Originally I came to BitShares because I was looking for a platform allowing easy trading of stocks (particulary indexes). BitUSD is a huge thing, I love it, but it needs merchant adoption to be useful. Trading stocks would be hugely beneficial alone, because the cost for an ordinary mortal to enter the stock market is quite big. If we had (pegged) stocks trading platform, we would get plenty of users AND we would have a use case for bitUSD. Also when trading bitUSD <=> bitStocks, you don't need gateways as desperately as we do now, because you only enter once, then gamble the market or hold for an extended period of time, and leave once a while after making some profit.
tldr> BitShares were supposed to be a trading platform. Trading currencies is a gamble, nobody (few) wants to do that. We need bitStocks! bitIndexes in particular..
+5% +5% +5% +5% +5%
finally something gave me hope again just reading it!
PS we need CFDs like trading and the option for leverage in general ...
Totally agree. options would be great.I will take advantage of this thread being used for showing what people want in bs and add my opinion: Originally I came to BitShares because I was looking for a platform allowing easy trading of stocks (particulary indexes). BitUSD is a huge thing, I love it, but it needs merchant adoption to be useful. Trading stocks would be hugely beneficial alone, because the cost for an ordinary mortal to enter the stock market is quite big. If we had (pegged) stocks trading platform, we would get plenty of users AND we would have a use case for bitUSD. Also when trading bitUSD <=> bitStocks, you don't need gateways as desperately as we do now, because you only enter once, then gamble the market or hold for an extended period of time, and leave once a while after making some profit.
tldr> BitShares were supposed to be a trading platform. Trading currencies is a gamble, nobody (few) wants to do that. We need bitStocks! bitIndexes in particular..
+5% +5% +5% +5% +5%
finally something gave me hope again just reading it!
PS we need CFDs like trading and the option for leverage in general ...
You need this...
(http://static.abcteach.com/content_preview/b/basic_mop_bw_p.png)
In summation...
If you want BTS to take off you need to make it attractive and easy to use.
Pricing and community are huge components of that attractiveness.
Liquidity is a direct component of pricing.
Get more gateways and other commercial interests on board and dump the delegates not actually contributing.
Finally, ease of use and exposure are key to community building.
Fix those and your problems are gone.
Just my 2 BTS.
Please consider adding the ability for the referrer to give a portion of his transaction earnings to his referees. Add this because it allows referrers to incentivize potential users to sign up with the referrer's code/link.
"Sign up with my link and get 2% off transaction fees for life".
This is like the "trade spend" concept we see in CPG businesses.
BitShares cannot "take off" while bitcoin and the rest of crypto are in a bear market.
Yes, because that is number 4 on Stanimov's 7 deadly crypto natural laws:
"#4. only DarkDashTITANCOPYCoin can grow its market cap duting a bitcoin bear market."
for a referral program the payment has to be come from someone
we shouldn't increase transaction fees and just look into existing possibilities
- create a pool who will distributed and everyone can donate to him and we can elect delegates to fill this pool up
to be consider
every transaction i do on the exchange i have to pay, so if i want to trade in the future i will have the need to change my orders
constantly, on a normal exchange this transaction is total free, but we have to charge, so the costs should as low as possible.
for a referral program the payment has to be come from someone
we shouldn't increase transaction fees and just look into existing possibilities
- create a pool who will distributed and everyone can donate to him and we can elect delegates to fill this pool up
to be consider
every transaction i do on the exchange i have to pay, so if i want to trade in the future i will have the need to change my orders
constantly, on a normal exchange this transaction is total free, but we have to charge, so the costs should as low as possible.
Totally agree. options would be great.I will take advantage of this thread being used for showing what people want in bs and add my opinion: Originally I came to BitShares because I was looking for a platform allowing easy trading of stocks (particulary indexes). BitUSD is a huge thing, I love it, but it needs merchant adoption to be useful. Trading stocks would be hugely beneficial alone, because the cost for an ordinary mortal to enter the stock market is quite big. If we had (pegged) stocks trading platform, we would get plenty of users AND we would have a use case for bitUSD. Also when trading bitUSD <=> bitStocks, you don't need gateways as desperately as we do now, because you only enter once, then gamble the market or hold for an extended period of time, and leave once a while after making some profit.
tldr> BitShares were supposed to be a trading platform. Trading currencies is a gamble, nobody (few) wants to do that. We need bitStocks! bitIndexes in particular..
+5% +5% +5% +5% +5%
finally something gave me hope again just reading it!
PS we need CFDs like trading and the option for leverage in general ...
+5% +5% +5% +5%
Do we have enough liquidity to hold the pegs though?
I also believe we should add stocks as market assets, specifically I'd like to see something like Vanguard ETFs. Google provides realtime stock prices so feeds should not be an issue, the only thing holding us back is the price of registration.
In my opinion the 500k fee for short-name assets should only apply to user assets, creating a market asset should be a lot cheaper, more like 10k BTS. That way we could introduce interesting stocks with short ticker names and start trading them, with shorting and collateral backing. That would make the DEX a hell of a lot more interesting, and be something you could actually sell to your friends!
I also believe we should add stocks as market assets, specifically I'd like to see something like Vanguard ETFs. Google provides realtime stock prices so feeds should not be an issue, the only thing holding us back is the price of registration.
In my opinion the 500k fee for short-name assets should only apply to user assets, creating a market asset should be a lot cheaper, more like 10k BTS. That way we could introduce interesting stocks with short ticker names and start trading them, with shorting and collateral backing. That would make the DEX a hell of a lot more interesting, and be something you could actually sell to your friends!
If users add them for a 10k fee, it might look sloppy. It needs to be neat and organized. Maybe the NASDAQ can have its own tab. ETFs can have its own tab. Separate categories of market pegged assets.
I also believe we should add stocks as market assets, specifically I'd like to see something like Vanguard ETFs. Google provides realtime stock prices so feeds should not be an issue, the only thing holding us back is the price of registration.
I also believe we should add stocks as market assets, specifically I'd like to see something like Vanguard ETFs. Google provides realtime stock prices so feeds should not be an issue, the only thing holding us back is the price of registration.
Google discontinued their API a while ago - the only way now is to scrape it, which is against TOS :(
BitShares cannot "take off" while bitcoin and the rest of crypto are in a bear market.
Yes, because that is number 4 on Stanimov's 7 deadly crypto natural laws:
"#4. only DarkDashTITANCOPYCoin can grow its market cap duting a bitcoin bear market."
DASH/DRK was the only coin on the list that figured out the whole supply vs. demand thing. If you want to create a DASH masternode (which receives new DASH in exchange for the masternode's mixing services), then you need to lock up 1000 DRK. Sort of like staking in Peercoin. You can't touch those 1000 DASH and you receive more DASH out of the block reward.
There are thousands of DASH masternodes now and they are each locking up $3000+ USD worth of DASH, taking it out of the supply. The people who run these masternodes then save up another 1000, and then "stake them" in order to get even more DASH.
BitShares could employ a similar strategy for delegates. Instead of having a registration bond that's destroyed, (which only motivates scam delegates to pretend to do work for a few weeks), we could instead have a large registration fee that's not destroyed, but is rather returned to the delegate after "canceling" delegate registration. Perhaps 1 million BTS. (If DASH can have $3000-required masternodes, we can have $4500-required delegates) So everyone who is a delegate or running as a delegate must have 1 million BTS locked up in the system. What would be the result?
1) All delegates are heavily invested in BTS compared to the pay they receive. Unless they truly believe that they will serve as beneficial delegates for a long time and that BTS will be worth more in the long-term, then becoming a 100% delegate will be too risky for them. If they're willing to lock up 1 million BTS and risk getting fired in a few weeks for inaction or incompetency after BTS drops 30% against the USD, they'll lose money measured in USD.
2) 101 * 1 million = 101 million BTS taken out of supply by delegates alone and probably more because delegates need to lock up 1 million BTS on the blockchain to be eligible for votes.
Wow, your trolling of DASH just made me think of this on the spot. This is a damn good idea and solves delegate accountability and incentive issues without having to micromanage them.
I'm sure some people will complain that it's elitist though.
I also believe we should add stocks as market assets, specifically I'd like to see something like Vanguard ETFs. Google provides realtime stock prices so feeds should not be an issue, the only thing holding us back is the price of registration.
I am not a trader nor very familiar with all of those .. but why would you want to have a stock split if you can issue an asset with precisions >1 ..I also believe we should add stocks as market assets, specifically I'd like to see something like Vanguard ETFs. Google provides realtime stock prices so feeds should not be an issue, the only thing holding us back is the price of registration.
Stock splits are holding us back too. Delegates would have to provide a feed that says when a stock is split, otherwise shorters make 100% instantly.
From what you all tell me of Dark, it looks like they are supporting their price NuBits style, offering interest to encourage holding. As long as the interest rate is above the long-term price decline everyone holding is breaking even.
I got to thinking about why it is so hard to bootstrap a business in crypto and it is because NEW investors are always bailing out OLD investors which sucks up all of the capital. We can easily resolve all of this by placing unclaimed BTS from delegates INTO a yield fund for BTS holders. Having a yield fund would encourage people to move their money off of exchanges and to hold it for longer periods of time.
The side effect of a yield fund is that it wouldn't actually debase ANYONE except those who are looking to cash out short term. IE: transfer of value from those who want short term liquidity to those who are in this for the long run.
In effect YIELD == DRK model. Whether or not this is a good idea remains to be seen.
I am not a trader nor very familiar with all of those .. but why would you want to have a stock split if you can issue an asset with precisions >1 ..I also believe we should add stocks as market assets, specifically I'd like to see something like Vanguard ETFs. Google provides realtime stock prices so feeds should not be an issue, the only thing holding us back is the price of registration.
Stock splits are holding us back too. Delegates would have to provide a feed that says when a stock is split, otherwise shorters make 100% instantly.
same thing with bitcoin .. you don't need to buy a 'whole' bitcoin :)
A stock split is when a company divides existing shares into additional shares (you can also do the reverse). The market cap remains the same but the price per share will decrease by the ratio of new shares to old shares.
ETFs or indexes would mitigate this kind of issue though, any individual stock split will have very little effect on the index.
A stock split is when a company divides existing shares into additional shares (you can also do the reverse). The market cap remains the same but the price per share will decrease by the ratio of new shares to old shares.
ETFs or indexes would mitigate this kind of issue though, any individual stock split will have very little effect on the index.
But if we have a BitAsset that tracks an individual share, then this is still a problem. We cant always use indexes.
Maybe one way to solve this problem is to have a BitStock that tracks a portion of the entire market cap of the company, which like you said stays the same after a split.
We need a business opportunity inside the wallet, one is lending business for traders.
Like I can lend my bitUSD so traders can short any market trading bitUSD at any price they want with no cover expiration as long as they continue to pay the % fee daily.
Then I can earn daily % of interest with % fee to bitshares as well. Like how bitfinex,com works, but it is better from decentralized exchanger.
Another business opportunity is insurance to lenders.
How nice to invest more fiat money if we have this features in the wallet.
just my +5%
Got my +5%Totally agree. options would be great.I will take advantage of this thread being used for showing what people want in bs and add my opinion: Originally I came to BitShares because I was looking for a platform allowing easy trading of stocks (particulary indexes). BitUSD is a huge thing, I love it, but it needs merchant adoption to be useful. Trading stocks would be hugely beneficial alone, because the cost for an ordinary mortal to enter the stock market is quite big. If we had (pegged) stocks trading platform, we would get plenty of users AND we would have a use case for bitUSD. Also when trading bitUSD <=> bitStocks, you don't need gateways as desperately as we do now, because you only enter once, then gamble the market or hold for an extended period of time, and leave once a while after making some profit.
tldr> BitShares were supposed to be a trading platform. Trading currencies is a gamble, nobody (few) wants to do that. We need bitStocks! bitIndexes in particular..
+5% +5% +5% +5% +5%
finally something gave me hope again just reading it!
PS we need CFDs like trading and the option for leverage in general ...
+5% +5% +5% +5%
Do we have enough liquidity to hold the pegs though?
I am glad I am not the only one, who finds this idea attractive. Is there enough liquidity? I don't know, but I will tell my perspective: I am a conservative investor in BTS terms, but I trust the bitUSD peg to hold and I believe, it would hold also for other assets (if they were useful - such as indexes). And indexes are far less speculative investment than BTS, so I could invest like 2x - 3x more than I am currently in BTS
To me, a referral program is completely worthless. At present I don't tell my friends/family about BitShares, because there is nothing useful for them here (I just discuss with them the theoretical aspects of BS, mostly without mentioning it). And a referral program won't change it. On the other hand, as soon as there appears something useful for them in BitShares, I will begin spreading the word WITH or WITHOUT the referral program.
My priorities:
1) Finish 1.0 and introduce other pegged assets (stocks, indexes, commodities)
2) Wait for the word to spread + use ordinary marketing channels
3) If this doesn't help, start referral program
Got my +5%Totally agree. options would be great.I will take advantage of this thread being used for showing what people want in bs and add my opinion: Originally I came to BitShares because I was looking for a platform allowing easy trading of stocks (particulary indexes). BitUSD is a huge thing, I love it, but it needs merchant adoption to be useful. Trading stocks would be hugely beneficial alone, because the cost for an ordinary mortal to enter the stock market is quite big. If we had (pegged) stocks trading platform, we would get plenty of users AND we would have a use case for bitUSD. Also when trading bitUSD <=> bitStocks, you don't need gateways as desperately as we do now, because you only enter once, then gamble the market or hold for an extended period of time, and leave once a while after making some profit.
tldr> BitShares were supposed to be a trading platform. Trading currencies is a gamble, nobody (few) wants to do that. We need bitStocks! bitIndexes in particular..
+5% +5% +5% +5% +5%
finally something gave me hope again just reading it!
PS we need CFDs like trading and the option for leverage in general ...
+5% +5% +5% +5%
Do we have enough liquidity to hold the pegs though?
I am glad I am not the only one, who finds this idea attractive. Is there enough liquidity? I don't know, but I will tell my perspective: I am a conservative investor in BTS terms, but I trust the bitUSD peg to hold and I believe, it would hold also for other assets (if they were useful - such as indexes). And indexes are far less speculative investment than BTS, so I could invest like 2x - 3x more than I am currently in BTS
To me, a referral program is completely worthless. At present I don't tell my friends/family about BitShares, because there is nothing useful for them here (I just discuss with them the theoretical aspects of BS, mostly without mentioning it). And a referral program won't change it. On the other hand, as soon as there appears something useful for them in BitShares, I will begin spreading the word WITH or WITHOUT the referral program.
My priorities:
1) Finish 1.0 and introduce other pegged assets (stocks, indexes, commodities)
2) Wait for the word to spread + use ordinary marketing channels
3) If this doesn't help, start referral program
I am glad I am not the only one, who finds this idea attractive. Is there enough liquidity? I don't know, but I will tell my perspective: I am a conservative investor in BTS terms, but I trust the bitUSD peg to hold and I believe, it would hold also for other assets (if they were useful - such as indexes). And indexes are far less speculative investment than BTS, so I could invest like 2x - 3x more than I am currently in BTS
To me, a referral program is completely worthless. At present I don't tell my friends/family about BitShares, because there is nothing useful for them here (I just discuss with them the theoretical aspects of BS, mostly without mentioning it). And a referral program won't change it. On the other hand, as soon as there appears something useful for them in BitShares, I will begin spreading the word WITH or WITHOUT the referral program.
My priorities:
1) Finish 1.0 and introduce other pegged assets (stocks, indexes, commodities)
2) Wait for the word to spread + use ordinary marketing channels
3) If this doesn't help, start referral program
I am glad I am not the only one, who finds this idea attractive. Is there enough liquidity? I don't know, but I will tell my perspective: I am a conservative investor in BTS terms, but I trust the bitUSD peg to hold and I believe, it would hold also for other assets (if they were useful - such as indexes). And indexes are far less speculative investment than BTS, so I could invest like 2x - 3x more than I am currently in BTS
To me, a referral program is completely worthless. At present I don't tell my friends/family about BitShares, because there is nothing useful for them here (I just discuss with them the theoretical aspects of BS, mostly without mentioning it). And a referral program won't change it. On the other hand, as soon as there appears something useful for them in BitShares, I will begin spreading the word WITH or WITHOUT the referral program.
My priorities:
1) Finish 1.0 and introduce other pegged assets (stocks, indexes, commodities)
2) Wait for the word to spread + use ordinary marketing channels
3) If this doesn't help, start referral program
We need a business opportunity inside the wallet, one is lending business for traders.
Like I can lend my bitUSD so traders can short any market trading bitUSD at any price they want with no cover expiration as long as they continue to pay the % fee daily.
Then I can earn daily % of interest with % fee to bitshares as well. Like how bitfinex,com works, but it is better from decentralized exchanger.
Another business opportunity is insurance to lenders.
How nice to invest more fiat money if we have this features in the wallet.
just my +5%
I am glad I am not the only one, who finds this idea attractive. Is there enough liquidity? I don't know, but I will tell my perspective: I am a conservative investor in BTS terms, but I trust the bitUSD peg to hold and I believe, it would hold also for other assets (if they were useful - such as indexes). And indexes are far less speculative investment than BTS, so I could invest like 2x - 3x more than I am currently in BTS
To me, a referral program is completely worthless. At present I don't tell my friends/family about BitShares, because there is nothing useful for them here (I just discuss with them the theoretical aspects of BS, mostly without mentioning it). And a referral program won't change it. On the other hand, as soon as there appears something useful for them in BitShares, I will begin spreading the word WITH or WITHOUT the referral program.
My priorities:
1) Finish 1.0 and introduce other pegged assets (stocks, indexes, commodities)
2) Wait for the word to spread + use ordinary marketing channels
3) If this doesn't help, start referral program
This makes the most sense from everything i have read so far. Practical and realistic IMO.
I am glad I am not the only one, who finds this idea attractive. Is there enough liquidity? I don't know, but I will tell my perspective: I am a conservative investor in BTS terms, but I trust the bitUSD peg to hold and I believe, it would hold also for other assets (if they were useful - such as indexes). And indexes are far less speculative investment than BTS, so I could invest like 2x - 3x more than I am currently in BTS
To me, a referral program is completely worthless. At present I don't tell my friends/family about BitShares, because there is nothing useful for them here (I just discuss with them the theoretical aspects of BS, mostly without mentioning it). And a referral program won't change it. On the other hand, as soon as there appears something useful for them in BitShares, I will begin spreading the word WITH or WITHOUT the referral program.
My priorities:
1) Finish 1.0 and introduce other pegged assets (stocks, indexes, commodities)
2) Wait for the word to spread + use ordinary marketing channels
3) If this doesn't help, start referral program
#1 is a must. #'s 2 and 3 could be done together. For many successful businesses, building a robust referral network IS part of ordinary marketing.
I am glad I am not the only one, who finds this idea attractive. Is there enough liquidity? I don't know, but I will tell my perspective: I am a conservative investor in BTS terms, but I trust the bitUSD peg to hold and I believe, it would hold also for other assets (if they were useful - such as indexes). And indexes are far less speculative investment than BTS, so I could invest like 2x - 3x more than I am currently in BTS
To me, a referral program is completely worthless. At present I don't tell my friends/family about BitShares, because there is nothing useful for them here (I just discuss with them the theoretical aspects of BS, mostly without mentioning it). And a referral program won't change it. On the other hand, as soon as there appears something useful for them in BitShares, I will begin spreading the word WITH or WITHOUT the referral program.
My priorities:
1) Finish 1.0 and introduce other pegged assets (stocks, indexes, commodities)
2) Wait for the word to spread + use ordinary marketing channels
3) If this doesn't help, start referral program
#1 is a must. #'s 2 and 3 could be done together. For many successful businesses, building a robust referral network IS part of ordinary marketing.
From what you all tell me of Dark, it looks like they are supporting their price NuBits style, offering interest to encourage holding. As long as the interest rate is above the long-term price decline everyone holding is breaking even.
I got to thinking about why it is so hard to bootstrap a business in crypto and it is because NEW investors are always bailing out OLD investors which sucks up all of the capital. We can easily resolve all of this by placing unclaimed BTS from delegates INTO a yield fund for BTS holders. Having a yield fund would encourage people to move their money off of exchanges and to hold it for longer periods of time.
The side effect of a yield fund is that it wouldn't actually debase ANYONE except those who are looking to cash out short term. IE: transfer of value from those who want short term liquidity to those who are in this for the long run.
In effect YIELD == DRK model. Whether or not this is a good idea remains to be seen.
From what you all tell me of Dark, it looks like they are supporting their price NuBits style, offering interest to encourage holding. As long as the interest rate is above the long-term price decline everyone holding is breaking even.
I got to thinking about why it is so hard to bootstrap a business in crypto and it is because NEW investors are always bailing out OLD investors which sucks up all of the capital. We can easily resolve all of this by placing unclaimed BTS from delegates INTO a yield fund for BTS holders. Having a yield fund would encourage people to move their money off of exchanges and to hold it for longer periods of time.
The side effect of a yield fund is that it wouldn't actually debase ANYONE except those who are looking to cash out short term. IE: transfer of value from those who want short term liquidity to those who are in this for the long run.
In effect YIELD == DRK model. Whether or not this is a good idea remains to be seen.
This is an interesting idea.
We need a business opportunity inside the wallet, one is lending business for traders.
Like I can lend my bitUSD so traders can short any market trading bitUSD at any price they want with no cover expiration as long as they continue to pay the % fee daily.
Then I can earn daily % of interest with % fee to bitshares as well. Like how bitfinex,com works, but it is better from decentralized exchanger.
Another business opportunity is insurance to lenders.
How nice to invest more fiat money if we have this features in the wallet.
just my +5%
We also need margin trading, and some composite indexes.
Bitshares hasn't taken off yet because there isn't a working product yet, IMO. End users are not going to use a resource-intensive full client. They will use a web or mobile client. Only delegates need to run full nodes. We are very close to the end user solution.
I have used many exchanges: bitstamp, bitfinex, coinbase, bter, poloniex, mtgox, btc-e, vircurex, mcxnow. Bitfinex is by far the best as far as functionality and ease of use IMO. Maybe I can explain this graphically:
(http://i.imgur.com/OmiI5zX.png)
1) Direct exchange between assets. From what I understand, this is tricky to do but it is absolutely necessary to compete with centralized exchanges. A BTC/USD asset pair is essential and could be the focus to begin with for a real, working product. Bitfinex alone had over 1.2 million bitcoin exchange volume in February.
2) Advanced order types. These order types are very useful to traders. Coinbase exchange does not have these order types, only bare bones buy and sell, yet monthly volume in February was over 320,000 BTC - and this is only their 4th month trading.
3) Deposit/withdrawal. This is necessary and could go through direct links to on/off ramps such as metaexchange.
(http://i.imgur.com/XSEgla3.png)
As others have stated, leverage is something traders absolutely want. Bitfinex uses 2.5:1 and OKCoin goes all the way up to 20:1. Bitfinex uses a P2P style lending between users. This may also be tricky to do in a blockchain-based system, but is necessary to compete. A P2P lending market may be the easiest to implement.
A simple web-based platform for buying and selling bitcoin and USD would be a good start. The key selling point would be that you are trading in a trust-minimized, blockchain-based environment with no third party risk. A report (http://45% of bitcoin exchanges fail, study finds) as of April 2013 states that 45% of all bitcoin exchanges fail. That rate may be higher by now. If you percieve the risk of catastrophic systemic failure (where everyone loses all of their money) from bitshares at less than 45%, then the decentralized exchange is your best option, and bitshares has been in existence for nearly one year now without systemic failure in which you lose all of your money and that type of failure has never really been a threat.
This should lead to other markets being bootstrapped for trading. Eventually, the web-based interface could have a similar user experience to something like TD Ameritrade (https://www.tdameritrade.com/investment-products.page), without the threat of third-party risk or censorship from using the system for any reason. End user security is very important with 2fa or something similar being mandatory.
Also, I don't like the rule requiring shorts to cover after 30 days. This was done to increase liquidity in the system, but may be taking liquidity from the system as users don't like the time limit on their trade, therefore they are being discouraged from initiating a short in the first place. I would like to see this rule removed completely or at least scaled back quite a bit.
tl;dr - We need to mimic the user experience of centralized exchanges such as bitfinex while using the bitshares blockchain as the backend to create a trust-minimized trading and asset storage environment. We should start by bootstrapping the BTC/USD market, which had a monthly trade volume of over 15 million coins in February alone. Just 0.5% of that market should be plenty to bootstrap the entire bitshares system with a healthy market cap and reasonable pay for developers. Then, more functionality can be added.
bugs still exist in the market place, according to the designed rules, some BitUSD/BTS orders should be traded but now they do not, even the old users are disappointed for this, please try to fix the bugs ASAP.
+5%
we are selling top notch bicycles without wheels and we are wondering why we have not enough sells...
I guarantee you:
1)even if we raise the salary of our bicycle sellers (we already tried that with the merge)
2)even if we use fancy colors to attract more buyers
3)even
4)even
5)...
6)...
7)...
...
...
I bet we will not have much better results if we don't...
Install the fu#@# wheels >:(
Think simple NOT complicated
(http://stompernet.com/products/wp-content/uploads/2012/01/bicycle2.jpg)
1) Direct exchange between assets. From what I understand, this is tricky to do but it is absolutely necessary to compete with centralized exchanges. A BTC/USD asset pair is essential and could be the focus to begin with for a real, working product. Bitfinex alone had over 1.2 million bitcoin exchange volume in February.
2) Advanced order types. These order types are very useful to traders. Coinbase exchange does not have these order types, only bare bones buy and sell, yet monthly volume in February was over 320,000 BTC - and this is only their 4th month trading.
We need a roadmap and backlog! that everyone can contribute with ideas.
emulating Bitfinex would be a good place to start IMO
(https://www.bitfinex.com/assets/logo.png)
+5% Brilliant. I like the way you think.emulating Bitfinex would be a good place to start IMO
(https://www.bitfinex.com/assets/logo.png)
The concept is quite simple really. Copy the user experience of centralized exchanges. The difference being a backend controlled by the bitshares blockchain instead of a centrally managed database.
I like to think of it as similar to http vs https. Users are trained to look for the 's' at the end to know they are on a secure website. They have no idea what is going on behind the scenes. They see no difference when interacting with the secure vs non-secure site. They just know that general consensus is that the 's' means it is secure.
Users should see no difference between interacting with a centralized exchange vs a decentralized exchange. Perhaps they see something that says 'Powered by Bitshares' to confirm security, just as they see an 's' to confirm security. They have no idea what is going on behind the scenes, they just know that 'Powered by Bitshares' means they are in a secure environment, and that secure environment utilizes the bitshares blockchain as the backend instead of a centrally managed database
From what you all tell me of Dark, it looks like they are supporting their price NuBits style, offering interest to encourage holding. As long as the interest rate is above the long-term price decline everyone holding is breaking even.
I got to thinking about why it is so hard to bootstrap a business in crypto and it is because NEW investors are always bailing out OLD investors which sucks up all of the capital. We can easily resolve all of this by placing unclaimed BTS from delegates INTO a yield fund for BTS holders. Having a yield fund would encourage people to move their money off of exchanges and to hold it for longer periods of time.
The side effect of a yield fund is that it wouldn't actually debase ANYONE except those who are looking to cash out short term. IE: transfer of value from those who want short term liquidity to those who are in this for the long run.
In effect YIELD == DRK model. Whether or not this is a good idea remains to be seen.
+5% Brilliant. I like the way you think.emulating Bitfinex would be a good place to start IMO
(https://www.bitfinex.com/assets/logo.png)
The concept is quite simple really. Copy the user experience of centralized exchanges. The difference being a backend controlled by the bitshares blockchain instead of a centrally managed database.
I like to think of it as similar to http vs https. Users are trained to look for the 's' at the end to know they are on a secure website. They have no idea what is going on behind the scenes. They see no difference when interacting with the secure vs non-secure site. They just know that general consensus is that the 's' means it is secure.
Users should see no difference between interacting with a centralized exchange vs a decentralized exchange. Perhaps they see something that says 'Powered by Bitshares' to confirm security, just as they see an 's' to confirm security. They have no idea what is going on behind the scenes, they just know that 'Powered by Bitshares' means they are in a secure environment, and that secure environment utilizes the bitshares blockchain as the backend instead of a centrally managed database
I got to thinking about why it is so hard to bootstrap a business in crypto and it is because NEW investors are always bailing out OLD investors which sucks up all of the capital. We can easily resolve all of this by placing unclaimed BTS from delegates INTO a yield fund for BTS holders. Having a yield fund would encourage people to move their money off of exchanges and to hold it for longer periods of time.
The side effect of a yield fund is that it wouldn't actually debase ANYONE except those who are looking to cash out short term. IE: transfer of value from those who want short term liquidity to those who are in this for the long run.
Bitshares hasn't taken off yet because there isn't a working product yet, IMO. End users are not going to use a resource-intensive full client. They will use a web or mobile client. Only delegates need to run full nodes. We are very close to the end user solution.+5%
I have used many exchanges: bitstamp, bitfinex, coinbase, bter, poloniex, mtgox, btc-e, vircurex, mcxnow. Bitfinex is by far the best as far as functionality and ease of use IMO. Maybe I can explain this graphically:
...
+5%
Also expect to change the rule of "you get what price you ask" to align with almost every other exchange to "get the same or better price". We have dilution and the rule of "you get whatever price you ask no better price" makes no sense now. All in all, make it feel more like a traditional exchange.
Then we can rebrand Bitshares once all these great ideas implemented, we can called it BitsharesX :D
Then BitSharesY? :PThen we can rebrand Bitshares once all these great ideas implemented, we can called it BitsharesX :D
lol....BitShares was called BitSharesX before .....
Then we can rebrand Bitshares once all these great ideas implemented, we can called it BitsharesX :D
lol....BitShares was called BitSharesX before .....
I was talking about this somewhere else and got the following response from Dan Notestein:emulating Bitfinex would be a good place to start IMO
(https://www.bitfinex.com/assets/logo.png)
The concept is quite simple really. Copy the user experience of centralized exchanges. The difference being a backend controlled by the bitshares blockchain instead of a centrally managed database.
I like to think of it as similar to http vs https. Users are trained to look for the 's' at the end to know they are on a secure website. They have no idea what is going on behind the scenes. They see no difference when interacting with the secure vs non-secure site. They just know that general consensus is that the 's' means it is secure.
Users should see no difference between interacting with a centralized exchange vs a decentralized exchange. Perhaps they see something that says 'Powered by Bitshares' to confirm security, just as they see an 's' to confirm security. They have no idea what is going on behind the scenes, they just know that 'Powered by Bitshares' means they are in a secure environment, and that secure environment utilizes the bitshares blockchain as the backend instead of a centrally managed database as the backend.
@arhag
advanced orders could be added later. A simple web-based interface for trading between bitcoin and USD would be enough to have a working product that could get things up and running.
dannotestein 10:20 PM
I think we'll essentially have this very soon via the web wallet. You'll have your account there, and it will have a "Deposits/Withdrawal" type page with links to blocktrades and metaexchange.
Then we can rebrand Bitshares once all these great ideas implemented, we can called it BitsharesX :D
lol....BitShares was called BitSharesX before .....
I totally agree with Helicopter Ben's analysis. The reason its not taking off is because the product is incomplete (but its getting close). A referral scheme is not going to help if we dont fix that first.good suggestion speedy
wallet.bitshares.org:
- Has no easy deposit page - integration with metaexchange and blocktrades needs to be seamless, not just a link
- Still feels kinda slow
- Needs its own brand identity
- Logging in as a guest and the dashboard is totally empty - needs to be buzzing with activity.
Btw there is a fun video game where you can play as helicopter ben: http://projects.wsj.com/games/thefederator/
I think this is good, but are you suggesting the core devs focus on the front end too or mainly be the backend blockchain & market engine and provide an SDK for other companies to build various UI/UX (ie. Etrade/Think or Swim/Tradestation/Bitfinex/Kraken etc.)?
So what exactly is happening right now? Is bitshares once again pivoting in a completely new direction? Has 1.0 been delayed? I see no milestones have been updated or achieved recently.
(i) Product usability (ii) Business model (iii) Marketing.
I think the built in referral program is a great idea and will result in more marketing success than is currently achieved via the delegate system as marketers and third parties will be paid for results they actually achieve.
However BTS has a product problem rather than a marketing problem at this stage as most have said.
We've actually already acquired enough users imo in the form of BTS shareholders to drive the BitAsset CAP to the $5-10 million range and hence a much stronger BTS valuation and it will grow easily from there.
I also think if the effect on liquidity won't be dire, making the 30 day cover rule much longer would be better.
I really liked helikoperben's analysis https://bitsharestalk.org/index.php/topic,15692.msg201882.html#msg201882
I also think if the effect on liquidity won't be dire, making the 30 day cover rule much longer would be better.
I also think if the effect on liquidity won't be dire, making the 30 day cover rule much longer would be better.
We all need to come up with a new, better idea for how to ensure that shorts cannot short eternally to 0 and never cover, because the 30 day rule isnt working well and is hurting people.
But we cannot simply remove the rule and replace it with nothing.
Of course, if all the market making bugs were fixed it might not be a big issue anymore, so perhaps that is the solution.
Extending expiries would mean that when bitAsset demand is relatively low compared to short demand, bitAssets would trade at larger discounts to the feed price. Its important to have the right balance for both longs and shorts.
Extending expiries would mean that when bitAsset demand is relatively low compared to short demand, bitAssets would trade at larger discounts to the feed price. Its important to have the right balance for both longs and shorts.
Extending expiries would mean that when bitAsset demand is relatively low compared to short demand, bitAssets would trade at larger discounts to the feed price. Its important to have the right balance for both longs and shorts.
Right now bitusd is trading at an 8.5% premium to the feed price. It goes both ways. I'm sure the right formula can be found but shorts are dis advantaged with the 30 day rule.
make a stable client,
make a stable client,
+5%
It's that simple. I often wonder where BTS would be now if it had kept a small standalone fast wallet around while the behemoth client was worked on and released separately.
It's that simple. I often wonder where BTS would be now if it had kept a small standalone fast wallet around while the behemoth client was worked on and released separately.
It's that simple. I often wonder where BTS would be now if it had kept a small standalone fast wallet around while the behemoth client was worked on and released separately.
I think in the long run the web-based client will attract more users. Choosing to use web technologies was a stroke of genius.
make a stable client,
+5%
It's that simple. I often wonder where BTS would be now if it had kept a small standalone fast wallet around while the behemoth client was worked on and released separately.
Good idea.
It's that simple. I often wonder where BTS would be now if it had kept a small standalone fast wallet around while the behemoth client was worked on and released separately.
I think in the long run the web-based client will attract more users. Choosing to use web technologies was a stroke of genius.
This is actually huge, customer conversion requires minimizing steps and signup hassle. Ultimately everyone will be using hosted/web wallets with browser plugins.
It's that simple. I often wonder where BTS would be now if it had kept a small standalone fast wallet around while the behemoth client was worked on and released separately.
I think in the long run the web-based client will attract more users. Choosing to use web technologies was a stroke of genius.
This is actually huge, customer conversion requires minimizing steps and signup hassle. Ultimately everyone will be using hosted/web wallets with browser plugins.
Absolutely true, but also make a simple and easy to use. It needs to be idiot proof as much as possible like bitreserve IMO
It's that simple. I often wonder where BTS would be now if it had kept a small standalone fast wallet around while the behemoth client was worked on and released separately.
I think in the long run the web-based client will attract more users. Choosing to use web technologies was a stroke of genius.
This is actually huge, customer conversion requires minimizing steps and signup hassle. Ultimately everyone will be using hosted/web wallets with browser plugins.
Absolutely true, but also make a simple and easy to use. It needs to be idiot proof as much as possible like bitreserve IMO
I was actually thinking making it complex and hard to use would result in a more elite status and thus higher valuation. We want natural selection to weed out the idiots.
My point is that "simple and easy to use" is obvious and entirely unhelpful. We need specific suggestions on HOW to make it simple and easy.
It's that simple. I often wonder where BTS would be now if it had kept a small standalone fast wallet around while the behemoth client was worked on and released separately.
I think in the long run the web-based client will attract more users. Choosing to use web technologies was a stroke of genius.
This is actually huge, customer conversion requires minimizing steps and signup hassle. Ultimately everyone will be using hosted/web wallets with browser plugins.
Absolutely true, but also make a simple and easy to use. It needs to be idiot proof as much as possible like bitreserve IMO
I was actually thinking making it complex and hard to use would result in a more elite status and thus higher valuation. We want natural selection to weed out the idiots.
My point is that "simple and easy to use" is obvious and entirely unhelpful. We need specific suggestions on HOW to make it simple and easy.
1. Get rid of the Sync problems. It is scary for none technical people
2. Reduce the Sync time - maybe the wallet can already download after i started my Computer.
3. After starting the Wallet the Exchange needs far to long to start - reduce the time!
To make it short - make it fools proof to begin and in my opinion time is the most valuable commodity we should go for! So, we should save the users more time!
BM mentioned in the last mumble that crypto is moving slower than a lot of us think it is. This got me thinking about how long it will be before the blockchain technology really takes hold.
I'm sure its going to be an evolution rather than revolution, but what are peoples thoughts - 18-24 months or 5 years?
I saw coindesk had an article about 2015 being the year of the blockchain but i don't see it just yet, at least not yet in terms of mass adoption. I think we're 2-3 years away (based on my very scientific wet finger in the air analysis).
Anyone have any links or thoughts?
BM mentioned in the last mumble that crypto is moving slower than a lot of us think it is. This got me thinking about how long it will be before the blockchain technology really takes hold.
I'm sure its going to be an evolution rather than revolution, but what are peoples thoughts - 18-24 months or 5 years?
I saw coindesk had an article about 2015 being the year of the blockchain but i don't see it just yet, at least not yet in terms of mass adoption. I think we're 2-3 years away (based on my very scientific wet finger in the air analysis).
Anyone have any links or thoughts?
(http://i.imgur.com/bJHYX7E.png)
BTS can be very disruptive. I just don't see why would anyone get out of BTS at these prices unless they absolutely need to. I think the upside potential especially with the new direction is so huge, that NOT being in BTS is a huge risk.
The argument against inflation is really stupid. This is so powerful - stakeholders have the ability to hire and fire and vote with their money. It is SO much better than the politics and drama surrounding the Bitcoin Foundation elections.
I say - fix the bugs, deliver thin idiot proof client with deterministic wallets, do marketing and find partners. It is clear now that ALL crypto projects take much much longer to grow to their full potential, so BTS is not really "behind".
BTS will be explosive at some point, but probably more like 2016. At this point I'm just laughing at the low prices and hope elected developers can cover their bills.
I am more excited than I have ever been about BTS and its potential... expect some major, game changing, news this summer.
I am more excited than I have ever been about BTS and its potential... expect some major, game changing, news this summer.
+5%
1. Get rid of the Sync problems. It is scary for none technical people
2. Reduce the Sync time - maybe the wallet can already download after i started my Computer.
3. After starting the Wallet the Exchange needs far to long to start - reduce the time!
To make it short - make it fools proof to begin and in my opinion time is the most valuable commodity we should go for! So, we should save the users more time!
I am more excited than I have ever been about BTS and its potential... expect some major, game changing, news this summer.
+5%
(http://rack.3.mshcdn.com/media/ZgkyMDEzLzA3LzA1LzU4L2FuZ3J5ZGFuY2UuMjgwMzAuZ2lmCnAJdGh1bWIJMTIwMHg5NjAwPg/cf7341d0/d4e/angry-dance.gif)
1. Get rid of the Sync problems. It is scary for none technical people
2. Reduce the Sync time - maybe the wallet can already download after i started my Computer.
3. After starting the Wallet the Exchange needs far to long to start - reduce the time!
To make it short - make it fools proof to begin and in my opinion time is the most valuable commodity we should go for! So, we should save the users more time!
1+2 agree, also the re-index times are horrible
3 - 0.9 was lightning fast on loading the exchange. hope that was intentional :)
People need digital currency, but they do not need it like this.
It is like in the green energy area, many company died, not because they do not need green energy, but because they just need something to solve a specific problem. Tesla is an example.
In this aspect, ripple do beeter than any other crypo.
Will never up before the short rule change. . Ridiculous rule
从我的 iPhone 发送,使用 Tapatalk
People need digital currency, but they do not need it like this.
It is like in the green energy area, many company died, not because they do not need green energy, but because they just need something to solve a specific problem. Tesla is an example.
In this aspect, ripple do beeter than any other crypo.Will never up before the short rule change. . Ridiculous rule
从我的 iPhone 发送,使用 Tapatalk
...what's up with all the random, unsubstantiated pessimism from members of the Chinese community lately?
Things finally seem to be starting to turn around...guess they didn't get the memo.
People need digital currency, but they do not need it like this.
It is like in the green energy area, many company died, not because they do not need green energy, but because they just need something to solve a specific problem. Tesla is an example.
In this aspect, ripple do beeter than any other crypo.Will never up before the short rule change. . Ridiculous rule
从我的 iPhone 发送,使用 Tapatalk
...what's up with all the random, unsubstantiated pessimism from members of the Chinese community lately?
Things finally seem to be starting to turn around...guess they didn't get the memo.
Both observations are correct. The Chinese are smart.
People need digital currency, but they do not need it like this.
It is like in the green energy area, many company died, not because they do not need green energy, but because they just need something to solve a specific problem. Tesla is an example.
In this aspect, ripple do beeter than any other crypo.Will never up before the short rule change. . Ridiculous rule
从我的 iPhone 发送,使用 Tapatalk
...what's up with all the random, unsubstantiated pessimism from members of the Chinese community lately?
Things finally seem to be starting to turn around...guess they didn't get the memo.
Both observations are correct. The Chinese are smart.
+5%People need digital currency, but they do not need it like this.
It is like in the green energy area, many company died, not because they do not need green energy, but because they just need something to solve a specific problem. Tesla is an example.
In this aspect, ripple do beeter than any other crypo.Will never up before the short rule change. . Ridiculous rule
从我的 iPhone 发送,使用 Tapatalk
...what's up with all the random, unsubstantiated pessimism from members of the Chinese community lately?
Things finally seem to be starting to turn around...guess they didn't get the memo.
Both observations are correct. The Chinese are smart.
These people are thinkers , and directly or indirectly contributed in the "turn around" things nomoreheroes7 mentioned . It's normal for them to see more problems , because they researched deeper than others .
Many of the active members in the Chinese community are either programmers , lawyers , bankers , professors or economist , and they didn't just buy BTS and wait for good things to happen . They build business around BTS , they build groups to help out users , they use the wallet everyday despite it's a painful experience for some of them ....
It's takes more than a "good news memo" to make them happy .... because these are the people who can offer good news themselves when the time comes .
make a stable client,
+5%
It's that simple. I often wonder where BTS would be now if it had kept a small standalone fast wallet around while the behemoth client was worked on and released separately.
Good idea.
In this aspect, ripple do beeter than any other crypo.
If they knew the short rule is about to change why wouldnt it get priced in within a few minutes? They didnt buy thus market still doesnt believe in the change or has it not been approved yet thats why we havent taken off?People need digital currency, but they do not need it like this.
It is like in the green energy area, many company died, not because they do not need green energy, but because they just need something to solve a specific problem. Tesla is an example.
In this aspect, ripple do beeter than any other crypo.Will never up before the short rule change. . Ridiculous rule
从我的 iPhone 发送,使用 Tapatalk
...what's up with all the random, unsubstantiated pessimism from members of the Chinese community lately?
Things finally seem to be starting to turn around...guess they didn't get the memo.
Both observations are correct. The Chinese are smart.
Until BitAssets 3.0 are introduced, BitAsset adoption is unlikely to increase in the interim, especially as the current BitAssets will be left to die as opposed to being rolled over into the new system. Hence the valuation will likely be constrained barring any other major news.
Using BitAssets to solve specific problems could rapidly increase their adoption.