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I3 needs to get the market cap to the point a delegate can take $150k USD/year.
Therefore, at 2 cents per BTS, a max pay delegate gets paid just over $30k USD per year. At higher BTS prices its obviously higher. At 5-10x current market share price, a paid delegate makes significant money and we can hire develops away from other coins, etc.At 100x current market share price, a 100% paid deleagte funds a huge marketing campaign, or a whole team of developers. At that point we would probably have most of our paid delegates not actually be at 100%, but a much lower percentage. (Which also means that inflation will be a lot lower).
Delegates can receive up to 50 new BTS per block *if* their pay rate is 100% and voters approved of them.
Quote from: jsidhu on October 30, 2014, 09:29:13 pmYup I called the bottom so hopefully you didnt sell... I think we head up to around $500 on btc and time will tell on how bts will react.. if we make new highs on bts then we are good... depends on how charts look as btc rises... if bts has a hardt ime rising vs btc then the market is saying we don't have our game straight yet.. need more technology or better marketing etc etc.. but I believe panic sellers personally just gave up similar to speculators giving up during the times when bitcoin crashed down to $3 or $50 after new ATH's.I wouldn't worry about charts (but thanks for calling the bottom; I bought more!). We know there's a better client, GUI, wallets, and a marketing push on the way. Until then, even a drop like this is really just static.
Yup I called the bottom so hopefully you didnt sell... I think we head up to around $500 on btc and time will tell on how bts will react.. if we make new highs on bts then we are good... depends on how charts look as btc rises... if bts has a hardt ime rising vs btc then the market is saying we don't have our game straight yet.. need more technology or better marketing etc etc.. but I believe panic sellers personally just gave up similar to speculators giving up during the times when bitcoin crashed down to $3 or $50 after new ATH's.
I aint selling.
Quote from: Ander on October 30, 2014, 09:00:55 pmQuote from: hughmanwho on October 30, 2014, 08:55:36 pmHow does delegate system allow funding development/marketing?Voters can elect paid delegates who will receive bitshares each block, and can then use them to fund development, fund marketing campaigns, etc.This was one of the main new things in the changes to Bitshares.Where do the Bitshares come from? Do they print new ones out of thin air? I know there was talk of allowing voters to inflate the supply to their hearts content..
Quote from: hughmanwho on October 30, 2014, 08:55:36 pmHow does delegate system allow funding development/marketing?Voters can elect paid delegates who will receive bitshares each block, and can then use them to fund development, fund marketing campaigns, etc.This was one of the main new things in the changes to Bitshares.
How does delegate system allow funding development/marketing?
Quote from: bytemaster on October 30, 2014, 09:45:41 pmQuote from: hughmanwho on October 30, 2014, 09:43:08 pmQuote from: Ander on October 30, 2014, 09:00:55 pmQuote from: hughmanwho on October 30, 2014, 08:55:36 pmHow does delegate system allow funding development/marketing?Voters can elect paid delegates who will receive bitshares each block, and can then use them to fund development, fund marketing campaigns, etc.This was one of the main new things in the changes to Bitshares.Where do the Bitshares come from? Do they print new ones out of thin air? I know there was talk of allowing voters to inflate the supply to their hearts content..Delegates can receive up to 50 new BTS per block *if* their pay rate is 100% and voters approved of them.I almost have my delegate set up. I registered delegate.methodx about a month ago and set the "pay" to 10%. If I want 100% pay to put toward advertising, can the % be increased? Will the new rules set everyone at 50 BTS per block? Should I register a completely new delegate account and start from 100%?
Quote from: hughmanwho on October 30, 2014, 09:43:08 pmQuote from: Ander on October 30, 2014, 09:00:55 pmQuote from: hughmanwho on October 30, 2014, 08:55:36 pmHow does delegate system allow funding development/marketing?Voters can elect paid delegates who will receive bitshares each block, and can then use them to fund development, fund marketing campaigns, etc.This was one of the main new things in the changes to Bitshares.Where do the Bitshares come from? Do they print new ones out of thin air? I know there was talk of allowing voters to inflate the supply to their hearts content..Delegates can receive up to 50 new BTS per block *if* their pay rate is 100% and voters approved of them.
The date to look forward to if you're a long term holder is 08-01-2016. After that date you can expect Bitshares to reach a market cap in the billions if everyone in the community keeps working hard.There is something very special about this date. The Bitshares developers know what happens on this date and it can be planned for.
Quote from: jsidhu on October 30, 2014, 05:19:26 pmDelegate system is a win for long term valuation.. right now some ppl panic sold BTC to get back into fiat mostly USD... and thus price is falling on every coin.. however I believe a bottom is now in and currently being formed so it may be a good idea to start building long positions in an aggressive manor... the people who panic sold will be back and buy higher.. especially after nov 5th... everything seems to line up for another ATH if all goes to plan.I agree, bitcoin was taking down every altcoin with it, and we were getting doubly hit by that as well as the uncertainty surrounding bitshares lately.Bitcoin just started to rally in the past hour, and BTSX is recovering as well. Hopefully the worst of this is now behind us and we will start to rise now.
Delegate system is a win for long term valuation.. right now some ppl panic sold BTC to get back into fiat mostly USD... and thus price is falling on every coin.. however I believe a bottom is now in and currently being formed so it may be a good idea to start building long positions in an aggressive manor... the people who panic sold will be back and buy higher.. especially after nov 5th... everything seems to line up for another ATH if all goes to plan.
Quote from: Ander on October 30, 2014, 05:11:09 pmQuote from: hughmanwho on October 30, 2014, 04:35:35 pmIt's still got good long term potential. Not as much as Nxt but it's always a great idea to diversify.Also, keep in mind that the reason for the spike was largely because people thought Overstock might go with BTSX.. which is clearly not happening anymore. Also the other big thing BTSX had going for it was BitUSD.. but clearly NuBits is maintaining a much more stable price, while BitUSD has been a little bit weak.Wow, you managed to say, all in one post:NXT > BTSX.Nubits > bitUSD.And that our price rise was people fantasizing about an overstock partnership.The absolute worst thing about this price drop is having to watch people be able to make all these bullshit statements in one post, and have it seem like they might actually be right because BTSX is getting destroyed.I think it's amazing that our competitors are completely oblivious to the fact that our advantage is clearly the delegate system and the way it allows us to fund development/marketing directly.Overstock, bitUSD or other stuff is completely irrelevant in the face of a blockchain that is incentivized to pay for its own upgrades. It's like the economic version of the much anticipated AI singularity.As long as they focus on the individual features (which are currently still pretty great, even compared to NXT and nubits), and not the actual reason for these features (and their future improvements which is the real killer), they are not even really competing with us.
Quote from: hughmanwho on October 30, 2014, 04:35:35 pmIt's still got good long term potential. Not as much as Nxt but it's always a great idea to diversify.Also, keep in mind that the reason for the spike was largely because people thought Overstock might go with BTSX.. which is clearly not happening anymore. Also the other big thing BTSX had going for it was BitUSD.. but clearly NuBits is maintaining a much more stable price, while BitUSD has been a little bit weak.Wow, you managed to say, all in one post:NXT > BTSX.Nubits > bitUSD.And that our price rise was people fantasizing about an overstock partnership.The absolute worst thing about this price drop is having to watch people be able to make all these bullshit statements in one post, and have it seem like they might actually be right because BTSX is getting destroyed.
It's still got good long term potential. Not as much as Nxt but it's always a great idea to diversify.Also, keep in mind that the reason for the spike was largely because people thought Overstock might go with BTSX.. which is clearly not happening anymore. Also the other big thing BTSX had going for it was BitUSD.. but clearly NuBits is maintaining a much more stable price, while BitUSD has been a little bit weak.
There have been rumours that a single big seller (with 700+BTC) was suppressing the price for weeks. It seemed like he stopped, maybe he started again. With such as small market it can just be caused by 1 person or a few people. Doesn't change the value proposition. That and bitcoin going down doesn't help. 2015 will be the year of bitshares.
Quote from: Frodo on October 30, 2014, 04:04:29 pmWhat makes me sad is actually not the price itself, I don't care about it, but rather all the people that have this game-changing technology in front of their eyes and still don't see it. I thought once we had a working peg people would understand the potential, but apparently I am mistaken about that. It is going to be way more difficult to get a wide user base than I originally expected.On the other hand I am glad about every BTSX that is in the hands of a true believer. So happy buying. People are not going to see the potential until we SHOW them the potential and create buzz around the product to get attention. Marketing overdue......tic toc. And it's not about getting a stable product first. The marketing can be just to create buzz. as movies done with trailers before the move is out (ready). Use Nubits as an example. They played their novelty momentum pretty well, creating buzz/mystery and using the count down clock. I understand they got a lot of business out of it. We need to be more sophisticated on the marketing front. End of story.
What makes me sad is actually not the price itself, I don't care about it, but rather all the people that have this game-changing technology in front of their eyes and still don't see it. I thought once we had a working peg people would understand the potential, but apparently I am mistaken about that. It is going to be way more difficult to get a wide user base than I originally expected.On the other hand I am glad about every BTSX that is in the hands of a true believer. So happy buying.
It's the bubble popping.. look through my posts, I predicted this a month or two ago.A bunch of people rushed in, all not wanting to miss out on the next big thing and they worried that BTSX would go higher than Ripple and they panic bought.. only now everyone who wanted it has already put as much as they could afford to risk in.. while the sellers still want to sell and the price is crashing. It's unfortunate that there is so much panic buying in crypto.. because it always leads to crashes.It's going to be continuing down for a week or two, then I'll pick some up as planned. It's still got good long term potential. Not as much as Nxt but it's always a great idea to diversify.Also, keep in mind that the reason for the spike was largely because people thought Overstock might go with BTSX.. which is clearly not happening anymore. Also the other big thing BTSX had going for it was BitUSD.. but clearly NuBits is maintaining a much more stable price, while BitUSD has been a little bit weak.
this summer
Quote from: lil_jay890 on October 30, 2014, 11:21:10 amEvery morning I wake up and se bitshares down another 10%This is getting pretty bad. I have a feeling we see 25mil market cap before 11.05. A 200% gain after that won't even get us to new market cap highs plus our shares are all going to be diluted...And another 20% gone in the last hour...I love how people are saying just don't check the price and it will rebound eventually. Easier said than done when your watching your hard earned money literally disappear in front of your eyes
Every morning I wake up and se bitshares down another 10%This is getting pretty bad. I have a feeling we see 25mil market cap before 11.05. A 200% gain after that won't even get us to new market cap highs plus our shares are all going to be diluted...
For me it's quite easy ..I can only sell late next year .. otherwise I need to state all that stuff in my tax declaration .. after a year .. all capital gains are free of tax .. So I am neither in a hurry .. nor am I in bad mood of current prices ..Further, I understand both, the technical and the economical implications of having a decentralized exchanged (which we all OWN) that has market pegging assets .. bla bla bla bla .. could go on four hours ... bla bla ..TL;DR .. I have confidence we will change the world ..
So depressing.
Tomorrow is payday.
I hope new bts will rise 200% after 11.05.many people lose a lots of money.on btsx and dns pts