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Messages - oldman

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421
General Discussion / Re: "What Is BitShares?" infographic -- your input is appreciated.
« on: September 11, 2014, 07:07:55 pm »
Looks great!

Would suggest using 'earn' in the +%5 box rather than 'make'.

I think the graphic would look better without the hook, the added text seems to clutter things up.

The logo is fantastic and can really stand on its own.



422
General Discussion / Re: S&P500, Dow, and Nasdaq would be cool to have in bitassets
« on: September 11, 2014, 07:00:41 pm »
Quote from: busygin on September 11, 2014, 12:52:37 am
Hi,
Some people proposed bitassets for commodities (oil and gold) as the next step for BitsharesX. I believe it would be more promising to start bitassets for major market indices, like S&P500, Dow, and Nasdaq. And possibly major Asian indices too. At least, real-time feeds for market indices are easier to get than for commodity futures, though I'm not entirely sure if there is a way to re-publish them for free. It would also potentially bring some long-term retirement investments to BitShares universe, and exiting a BTSX position to S&P500 instead of USD looks more logical if the money is used for capital gains, not just capital preservation.

Easy way, at least initially, would be to peg a few of the larger index ETFs.

ie. If investors want exposure to the SP500 just peg VOO.

 

423
General Discussion / Re: Fee Flow / Yield Info Graphic
« on: September 11, 2014, 06:56:13 pm »
Presentation is excellent, very clean aesthetic.

Unfortunately I had trouble figuring out the message being conveyed.

I think the point is to show the relationship between revenues and distributions.

It looks like revenues are being directed down and left while distributions are moving up and right. This is a bit confusing... where are they going? And why opposite directions?

I would suggest:

- Revenues depicted as moving in to the "Accumulated Fees/Reserve Fund" containers

- Distributions depicted as moving out of the "Accumulated Fees/Reserve Fund" and in to the pockets of happy, shiny share/asset holders

- Rotating the stacks 90 degrees and layering horizontally: BTSX -> Revenues -> Accumulated Fees -> Shareholders

- 1st layer BTSX, 2nd layer bitUSD, 3rd layer UIA

- Remove the asterisk on the pegged assets. Not necessary to provide that information for this type of info graphic

Not that I'm picky or anything.  ;D
 




424
General Discussion / Re: Stock market crash
« on: September 11, 2014, 05:45:26 pm »
Quote from: bitsharesrussia on September 11, 2014, 03:18:50 pm
Quote from: mf-tzo on September 11, 2014, 12:42:14 pm
nice graph... so where do we stand with BTSX in the below? Are we in the "Hope" point?

I hope we are not in the 1st "euphoria" point or in any of the red points....

I doubt that we are in this graph as its for a known asset. We are at the stealth stage yet

Agree... Bitshares is not even on the radar.

Might hit the optimism/excitement stage around the $1bn cap, when there's enough liquidity in the pegged assets to get some real attention.

Kind of like Bitcoin prior to $1bn.

425
General Discussion / Re: Stock market crash
« on: September 10, 2014, 08:10:57 pm »
Quote from: xeroc on September 10, 2014, 01:31:59 pm
maybe we should go one step at a time .. BUT anyone can create (paying the fee) a bitAsset on his own .. you just need to market it enough so that the 5m btsx are on ask/bid side and persuade 51 delegates to publish a feed .. done .. or am i missing sth?

Yes, I3 is doing a great job of bootstrapping a core asset group.

Once a few pegs are stable and there is some depth the rest will take care of itself.

bitUSD/bitCNY/bitGLD is probably all that is required to start the avalanche.

426
General Discussion / Re: Does great marketing explain why 75% of BTSX traded volume is in CNY
« on: September 10, 2014, 08:06:08 pm »
Quote from: xeroc on September 10, 2014, 08:02:31 pm
Quote from: OldMan on September 10, 2014, 08:00:40 pm
I agree that the basic commodities should be very high on the priority list.

BM enlightened us in another thread. see for your self:

Code: [Select]
>>> blockchain_get_asset WTI
{
  "id": 5,
  "symbol": "WTI",
  "name": "Light Sweet Crude Oil",
  "description": "1 barrel light sweet crude oil",
  "public_data": "",
  "issuer_account_id": -2,
  "precision": 10000,
  "registration_date": "20140719T000000",
  "last_update": "20140719T000000",
  "current_share_supply": 0,
  "maximum_share_supply": 1000000000000000,
  "collected_fees": 0
}

And there it is. These boys don't mess around.

 +5%

427
General Discussion / Re: Does great marketing explain why 75% of BTSX traded volume is in CNY
« on: September 10, 2014, 08:00:40 pm »
Quote from: MeTHoDx on September 10, 2014, 06:34:15 pm
Quote from: bluebit on September 10, 2014, 06:13:57 pm
I would love to see BitOil traded for BTSX

I'm more excited for BitOIL than GLD or SLV. Correct me if I'm mistaken but there is currently no way for the average person to trade the oil market is there?

No way as direct as buying bitOIL.

But bitOIL is not going to be that useful - will need WTI and Brent.

Perhaps bitOIL.Brent and bitOIL.WTI to start.

I agree that the basic commodities should be very high on the priority list.

428
General Discussion / Re: BitShares X needs an awesome hook...
« on: September 10, 2014, 07:01:17 pm »
Quote from: MeTHoDx on September 10, 2014, 06:49:34 pm
Quote from: OldMan
I'm not digging the use of 'experiment'. Bitshares is way past experimenting. Shit is getting real.

It absolutely IS an experiment. The word "experiment" makes crypto nerds like us drool. Why do you think bitcoin captured the imagination of millions of people? Because it was and still is a grand experiment.

I would venture that Bitshares was an experiment designed to validate market-pegged assets and, by happy accident, DPOS.

The experiment is now complete - pegs work, as does DPOS. There is a great deal of tweaking and refinement to be do done, but proof of concept has been satisfied.

I would agree with marketing 'participation in an experiment' during the presale/PTS/AGS stage.

Now I think it is time to give the devs their due. It works!


429
General Discussion / Re: BitShares X needs an awesome hook...
« on: September 10, 2014, 06:23:01 pm »
Quote from: Ben Mason on September 10, 2014, 04:16:55 pm
BitsharesX, a more elegant 'technology' for a more civilized age.....

I think 'weapon' would also fit quite nicely.

Definitely steer clear of all associations with war, violence, etc.

These things are all trappings of the status quo; coercion, corruption, centralization.

Bitshares is not picking a fight.

Bitshares is checkmate.


430
General Discussion / Re: BitShares X needs an awesome hook...
« on: September 10, 2014, 06:14:03 pm »
Quote from: MeTHoDx on September 10, 2014, 04:36:11 pm
A variation of first version: "Join The Greatest Financial Experiment Since Bitcoin"

I'm not digging the use of 'experiment'. Bitshares is way past experimenting. Shit is getting real.

'Join - Greatest - Financial - Bitcoin' all good.

Will ruminate, but I think an effective hook will play on cronyism/corruption/centralization rather than 'join the revolution'.

When it comes to money/finance, folks are too conservative for revolting and candidly, too uneducated regarding modern finance to really grasp what is wrong with the status quo.

They want a soft sell that allows them to transition to new, easier services with a large group of shiny, happy friends while feeling vaguely superior/smarter than the average Joe.

Long term, average users of the Bitshares platform are going understand DPOS as much the average internet user understands HTTP.

Some friendly, non-threatening hooks that are in line with popular sentiment on the status quo:

"CEO not required."

"Dear CEO... it's not you, it's me."

"I trust Bitshares because I don't have to trust Bitshares."

Etc.




431
General Discussion / Re: Market Report
« on: September 10, 2014, 05:44:23 pm »
Quote from: delulo on September 10, 2014, 10:05:53 am
Quote
My questions would be, what about this music DAC makes it need to be decentralized?  Hit a chord with the kids at being anti-establishment?  Is someone trying to avoid intellectual property?  Why not just a centralized website with a db backend to keep track of shares ?
This is a good question! My thoughts are:

With a blockchain tracking the ownership of artistcoins people can exchange those coins outside the peertracks platform on exhanges and between phones.

Other devs can write applications around the open source software.

Artistcoins have value as long as the bitshares music blockchain exists no matter how long the peershares company exists.

Transparency: With a dentralized database you couldnt prove it if you had the feeling that some artistcons where stolen from your account, with a blockchain(explorer) you can.

Downsides:
User can loose his private keys and lose his shares? Might be possible to offer a service to backup private keys by peertracks optionally. You could see of peertracks company abused this on the blockchain.

Slightly more costly than running one cerntralized database. Might not be as many delegates might work for the several DACs.

Dependence on the DPOS network's security (potentially vunerable to attacks). Isnt a centralized database also vunerable to attacks .

What else?

iTunes.

That is all.

432
General Discussion / Re: Does great marketing explain why 75% of BTSX traded volume is in CNY
« on: September 10, 2014, 05:43:41 pm »
Quote from: johncitizen on September 10, 2014, 10:18:15 am
BTC 38 is a great exchange. Large community brings the high volume. Now with the english site many westerners are diving into the BTSX/CNY liquidity. Like a big magnet.

Chinese are very smart investors and have identified BTSX potential. After these marketing campaigns kick in I think we will see higher volume trading from western world.

This.

433
General Discussion / Re: When will we achieve next order of magnitude increase?
« on: September 10, 2014, 05:40:10 pm »
Quote from: svk on September 10, 2014, 11:09:39 am
Taking control of 51 delegates is not easy in any way, but I don't know how it would compare to Nxt nor how much damage that could do in Nxt compared to BTSX, so can't really comment on that. My surely biased gutfeeling is that it would be less harmful in BTSX, but I don't have anything to back that up I'm afraid :)

I think it may be worthwhile, either in whitepaper or wiki, to run some 'what if' scenarios so folks can have a reality check on how difficult it would be to corrupt the DPOS platform.

The knee-jerk reaction is always going to be to assume collusion of 51 delegates for the purpose of harming the system.

A plausible motivation for doing this, especially in the context of ROI or risk/benefit, is difficult to establish.

The impact of such an attack is really quite minimal - disruption/fork, perhaps a burn.

It is critical for folks to understand that even if the system is attacked successfully their funds are never at risk.

Moreover, the feasibility/practical considerations in actually corrupting/coercing 51 individuals should be discussed. While it is easy to throw down the assumption of corrupting 51 delegates spread all over the world... how would someone actually do this?

Perhaps the best thing to do, prior to the spotlight arriving, is to say: 'Yes, there is an attack vector. Here is what is required for a successful attack. And here is the end result'.

Most folks will see that an attack requires enormous input for little/no gain. Done.

"Bitshares is the most resilient and secure wealth management tool in human history".



434
General Discussion / Re: Posted yield news in /r/CryptoCurrency, upvotes requested!
« on: September 10, 2014, 05:24:37 pm »
Quote from: MeTHoDx on September 10, 2014, 01:40:54 pm
Quote from: luckybit on September 10, 2014, 01:39:15 pm
Quote from: MeTHoDx on September 10, 2014, 01:15:23 pm
http://www.reddit.com/r/CryptoCurrency/comments/2fzufz/starting_today_earn_10_interest_on_bitusd/

Upvote for visibility.

Can we post it in the /r/Bitcoin next and then do a coordinated upvote?

I think if we can get it to the top of /r/Bitcoin it will bring in lots of attention.

I want to do an AMA there but I don't think we're ready for that yet.

Yes, let's give the devs some time before going to the crypto masses. There could be some hiccups yet.

435
General Discussion / Re: Why did Bitcoin not explode on Paypal news?
« on: September 10, 2014, 05:21:23 pm »
I'm a fan of wave analysis, but my experience with Bitcoin has been that sentiment prevails over all else.

Per my previous post I believe larger market players are gaming the next leg up and have been carefully bracketing BTC price.

However, the PayPal news could be a turning point in popular sentiment. There have been some substantial buys.

If enough momentum builds the next round of mania will be interesting.





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