DanV, as well as multiple other elliotwave chartists that I follow, are predicting a low in the 200-250 range, a couple months from now.  It is a good count, and a pretty reasonable prediction, imo. 

There is a massive difference between the $200-250 range, and $50.  The ultra bearish attitude that many of you here have towards bitcoin hurts our perception in the eyes of bitcoiners, imo.  If you want someone who is interested in bitcoin to become interested in bitshares, the absolute WORST thing you can do is tell them that bitcoin is going to $50.

Far better would be to predict something like 'while Bitcoin goesover $1000 in the next bull run, Bitshares will go to $1.  While Bitcoin goes up 10x, Bitshares will go up 100x'.  This indicates Bitshares potential to massively increase in value while not immediately prejudicing them against you and evoking a hostile reaction by telling them the thing that the most idiot troll bears have been telling them for months. 

If you would all be less hostile towards bitcoin, it would help us gain better adoption among the current crypto community.

I'm not being hostile to bitcoin, I hope it doesn't do that, a rising tide lifts all boats.  I'm just saying it's a possibility.  Lower 200s could well end up being the bottom, that seems more likely.  But what if the Winklvoss ETF is a flop?  Everyone's holding out for that, if demand for it is underwhelming $50 is a real possibility. 

Look at the yahoo stock chart price from the dot com bubble, it's insane (all time chart)
https://www.google.co.uk/finance?q=NASDAQ:YHOO&sa=X&ei=UAyrVNivLMrgavKsgegG&ved=0CCUQ2AE

It went from $108 to $4.30 in 2 years.

There no reason to believe bitcoin wont behave like that.   

I thought I saw a long video where Danv tentatively predicted a crash that could be even lower than a low 200s, he might not have done, it was months ago that I watched it I can't remember.

Who knows maybe the winklevos ETF will be a big success and everyone will start holding bitcoin.  It's perfectly possible there will be more bubbles and gradually more adoption, that sounds like the most likely scenario to me.  The blockchain.info chart of the number of transactions has been growing nicely (apart from a recent slump, perhaps due to the holiday season) https://blockchain.info/charts/n-transactions-excluding-popular?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=.

I'm just speculating that it's possible the last '2 bubbles' were actually 1 bubble, in which case it has more popping to do.

(sorry gamey for derailing your thread somewhat)

$50 feels more like the fair price for a bitcoin to me, the price before all the willy report fraud.  That imo is the bottom that needs re-testing.  How can any serious investor buy it when the past spikes were probably greatly influenced by fake buy pressure?  Bitcoin needs a reset.  It is a bit sad and it will hurt the whole space but the crypto 2.0s with long enough legs can run fast enough to achieve lift off while it crashes.  There could be a boom before it crashes that low though.  I'm a fan of DanVs predictions.
https://www.tradingview.com/v/A1mFwkEG/ He predicts a crash (shown on another chart somewhere...) to a new low after a bull run starting in a few months.  I don't know if $50 is low enough for miners to stop...

Of course that may not happen at all, who knows. 

Great episode!

If we pretend I'm a gateway, is this how it works?

I accept £100 to my bank account from a buyer who wants to buy bitGBP.

I issue issue 100 matt608GBP to the buyer - which is an IOU from me to the buyer for 100 GBP, an iouGBP - NOT ioubitGBP.

An order book is created in the BitShares client for matt608GBP/bitGBP

People who want to cash out of bitGBP into GBP buy my GBP iou.  To withdraw to their bank account means I send them £100 from my bank account. - is that correct?

So each gateway still has their own separate orderboook except its on the BitShares blockchain.

bitstamp doesn't issue "bitstamp bitUSD", they issue "bitstamp  iouUSD", then if someone buys it they can redeem it at the exchange for USD.

So it appears this means anyone who has achieved local regulatory approval can be a gateway? You could have lots of small gateways starting up in any country providing the person can use their bank account.

Can it all be done entirely within the BitShares client - no exchange website even needed?!  I could simply announce I am now a gateway and provide bank account deposit details on my wall on my BitShares account. People could start making GBP deposits. I issue them matt608GBP.  People who want to sell their bitGBP for GBP buy the IOU from my depositors.  They can then send me the IOU with a memo including their bank account details.  I send them GBP from my account.  If the person who bought the matt608GBP changed their mind and wanted to sell it back to GBP, they could send it back to me and I would send them 100 GBP from my bank account (minus a tiny exchange fee).

Voila.  An gateway can be launched without even coding anything new!

I have no plans to do this of course due not being able to use my bank account for this, but I'm just thinking theoretically around the world.  Any exchanges that already has completed the KYC + regulatory approval could start doing this without even having to do anything to their website.  They just create an account on BitShares and put up their bank account details on their BitShares account wall, issue an IOU and start trading.  They could optionally just add 1 page to their website displaying iou/bitasset order book if they wanted to.  Or they could even just have page telling users they are now a gateway for BitShares and direct them to download the client and visit their account where they will find the banking deposit details.

The only problem is to have regulatory approval they have to have your ID info which means the user would have to verify themselves on the gateways website first before trading, but thats no big deal.  It means all currently approved users of any exchange could trade like this, all an exchange has to do to become a BitShares gateway is make a BitShares account, issue an IOU and start trading.  No integration is even required.  Customers would just need an unique ID that ties them to their exchange account.  Simple.

Is my understanding correct?

Quote from: wesphily on January 04, 2015, 04:37:32 pm

I would suggest posting in general forum once you are ready to get votes. That subforum gets the most attention.

Thank you for the suggestion, we were considering posting in the delegation forum when we had our proposal ready and obtain the necessary BTS.

Would it be considered fair to post the original topic in the General Discussion to see if it garners more interest?

There is lots of interest in your upcoming delegate here   If you create a delegate proposal I suggest doing it it in the delegate subforum explaining in detail what you plan to do.  You can create the proposal there before actually taking the delegate live.  Once it's live and your campaign is running if you need more votes posting about it once in the general forum is usually acceptable, or your supporters can do it for you (best option).

As others have said, being a fiat-BitShares gateway in the future would make your delegate very popular in the community.  Staying within crypto though I would still vote for you.  The more bitassets integrated the better I would think.

 

http://www.reddit.com/r/business/comments/2r59xu/should_stocks_be_included_in_the_cpi_consumer/

http://www.reddit.com/r/finance/comments/2r573w/should_stocks_be_included_in_the_cpi_consumer/

https://bitcointalk.org/index.php?topic=905385.msg10003476#msg10003476

While it's not easy to get voted in as 100% pay delegate, it is much easier to do so for a 3% pay delegate as voters are less careful.

Would it be better to have block signing/network security automated with POS and use DPOS to hire + fire employees? (not an original suggestion I know).