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Messages - Empirical1.2

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1201
General Discussion / Re: Current plans on delegate pay?
« on: April 26, 2015, 06:08:27 pm »
delegate pay, referral system, devs seeking funding from entrepeneurs, bitAssets AND bitAssets 3.0 can all co-exist.

CLains with the essence of it all in 16 words.  +5%

+5%

Removing something that works, albeit imperfectly, for something that is completely unproven is not a good idea. Start out with a hybrid system, then if the referral thing works out well we can eventually all migrate to that. We need incremental changes, building on what already exists, not sweeping changes that throw out the old for new shinies.

 +5%

In my model you don't even need to 'shift' anything.. the delegates support the proposed 'toll roads' and serve to provide policy oversight and enforcement. This doesn't mean delegates have to remain as is.. I am all for improvements to the way delegates are handled also.. but the baby with the bathwater proposal is or was not received or perceived as an improvement but an upheaval.

We haven't seen the proposal.. but I certainly hope it is just that.. a proposal.. and I hope it can consider changes.. like my suggested adoption of a hybrid refer system integrated into UIAs with delegate oversight.. this to me utilizing all our core capacities to bring in something good.

I TOTALLY GET the incentive of transaction fees.. TOTALLY.. it just needs all the right pieces implimented to make it work right.. BM did say in the course of the meeting the idea of stability and neutrality.. after discussion with at least one core dev though.. I have the impression there won't be sweeping changes to delegates like the mumble session might have suggested.

UIA gateways for user refer fees with delegate vote capacity based on anti-spam mandate to freeze bad neighbourhood UIAs is the way I think it could/should go in an effective way to gain mass adoption and protect the brand/tech.

Changes to delegates is another discussion. :)

This ^ is why I am GLAD bytemaster is open about these things and discusses them with us.  Because rather than complain, data just came up with a happy medium proposal that we can try without significantly changing anything.
It is THIS ^ that makes bitshares amazing...our citizens have the power to do far more than just complain.  We can actually propose and use solutions dynamically.

As for unnecessary politics...well the only way you get rid of that is to make us all automatons connected to the borg mothership..and that is just no fun...  :)

4 100% delegates agree with maintaining 100% delegates, hardly surprising.   

1202
General Discussion / Re: Current plans on delegate pay?
« on: April 25, 2015, 08:59:54 pm »
The general gist of this sounds very good.

Marketers would be fairly rewarded for the BTS users they actually bring in.

Moonstone for example (& a wide range of other competitive third parties) could potentially earn large sums via a fee sharing model so would be incentivised to develop and market a wide range of BTS supporting products and services.

Delegate pay is a non-problem compared to the vested funds being released from the "merger". I think the community would much rather see that side being addressed.  (I haven't listened to the session yet)

Dan/Stan can't really alter/cancel the merger as it's viewed as part of a commitment/obligation that they have made to PTS & AGS holders of which they are also large holders.

However shareholders can potentially choose to change it.  It would be interesting to see what some of the most supported Chinese delegates think of the merger.

1203
How concrete is "this summer"? I remember quite a few things were supposed to be coming "last December" that never materialized...also, summer is kind of broad. I like to think of summer as being here as soon as the sun comes out (May - June), but summer can technically be considered active until late September or so.

"This summer" will end up being mid 2016, just like "1.0 by christmas" is Dec 25, 2015. :P

'Oh, you thought we meant Northern Hemisphere summer!?'  :P


- how long are your monday meetings?
- what can possible be more important than non-classified talk? ( :P )
- how is the bitasset3.0 proposal implemented in parallel to bitassets1.0?
- will it be the "same" market/asset just an extra set of features? or will it be a different token?
- will bitassets3.0 be a 1.0 feature?
- when will we have a rough roadmap that can be put on the webpage?

Monday meetings are from 10 am through lunch. 
We will share those plans with you once we get everything ready for public consumption (this summer)
BitUSD 3.0 will be different than BitUSD
1.0 has been postponed due to BitAssets 3.0...
We will have a documented, tested, stable protocol definition this summer that will not need to change that includes the referral system

We are implementing the "implement then announce" rather than the "announce and then implement" approach to avoid missing deadlines and killing buzz or confusing the market.   When we announce the roadmap will be included... but it will only have 1 item on it and that is turing complete smart contracts which will be our LAST hard fork.

BitUSD is like...



BitUSD 3.0 is the one that will actually sell


1204

The dwindling interest can be attributed to a number of things:

Mainly the merger  dilution/distribution and inflation
The alienation of Adam B. Levine and Charles H.
and
The constant pivoting and changing.

I challenge you to go back and read the OG whitepaper, not the new one and compare the ideology and goals, ie the "axioms" part, and tell me how far away we are from that original idea because of the pivots and lack of progress. That is why the waining interest in  bitshares continues.

So you are proposing we do the following:

1) return to deflationary model
2) stop pivoting / changing
3) Bring Adam B. Levine back into the fold

If that is what you want then I think everyone will be very happy with what we are working on and will announce this summer.

Newmine.. just got served lol


Sent from my iPhone using Tapatalk

Um, no almost the opposite actually.

Depends how you look at it.  You're a market price guy so we never seem to agree, esp in the bear markets.


Sent from my iPhone using Tapatalk

Yeah, my perspective is that at least some of the criticisms he has been making have proven to be somewhat valid, otherwise they wouldn't be being addressed. I doubt it will cheer him up but still.     


1205

The dwindling interest can be attributed to a number of things:

Mainly the merger  dilution/distribution and inflation
The alienation of Adam B. Levine and Charles H.
and
The constant pivoting and changing.

I challenge you to go back and read the OG whitepaper, not the new one and compare the ideology and goals, ie the "axioms" part, and tell me how far away we are from that original idea because of the pivots and lack of progress. That is why the waining interest in  bitshares continues.

So you are proposing we do the following:

1) return to deflationary model
2) stop pivoting / changing
3) Bring Adam B. Levine back into the fold

If that is what you want then I think everyone will be very happy with what we are working on and will announce this summer.

Newmine.. just got served lol


Sent from my iPhone using Tapatalk

Um, no almost the opposite actually.

1206
If you want to remove the merger/dilution from the analysis, then you would say the March peak was the 'Ides of March' when the market was expecting the release of BitAssets, followed by a loss of interest in the waiting period. The August peak was the release of BitAssets and interest stayed fairly strong with the December peak being the market anticipating some sort of 1.0/SuperDAC release followed by a loss of interest during the waiting period.

As we get closer to 1.0, Moonstone and other tangible developments, interest may pick up again & the chart you linked to does seem to show a slight up-tick in April.




1207
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. 

1208
General Discussion / Re: What's happening with the price?
« on: April 22, 2015, 10:17:48 am »
Actually it looks like Greece might have a bank holiday etc. pretty soon, so I would guess for the next week or so you're better off being in Bitcoin.

1209
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?

For the last 6 months I haven't been able to recommend either BTS as a good investment or BitAssets as a good product to non crypto-savvy investors. However once 1.0, Moonstone and BitAssets 3.0 are working well then you'll have a very easy to use, secure and liquid Bitasset that I will use and that we can easily recommend, especially against the backdrop of a very shaky traditional banking system. It's just a question of crossing that threshold where the market thinks you've got a strong enough product and package & then you're going to see very rapid adoption and growth within the space of 6 months imo,

Big volume and gains can arrive very quickly...




1210
General Discussion / Re: Decentraliced Dice Game is a awsome idea!
« on: April 20, 2015, 12:36:07 pm »
http://www.theguardian.com/society/2014/oct/03/bet365-profit-china-online-gambling

Bet365 is a company with $350 million annual profit and $40 Billion turnover.

Quote
• Bet365 frequently changes its website addresses in China, thereby side-stepping attempts by local regulators to close sites down.

• The company has constructed a complex payments system that allows it to take bets placed using China’s currency, the renminbi.


Sure sounds like they would benefit from using DNS & BitCNY.




Asia the future of online gambling and a DAC like BTS is the most competitive vehicle to provide it.


1211
General Discussion / Re: What's happening with the price?
« on: April 20, 2015, 09:40:19 am »
BTS suffers from many problems, past and present and though there are good developments in the pipeline which give BTS a lot of potential, none of them gave me a great deal of certainty that BitAsset use and adoption would increase drastically. Over the last few months I sold over 90%+ of my BTS and was waiting for a significant reversal in either share price or BitAsset adoption before I would consider buying again.

However BitAssets3.0  has completely altered my expectations. https://bitsharestalk.org/index.php/topic,15775.0.html
These changes or some ultimate variation of them make BitAsset use far more attractive to longs and also to shorts too and I think will largely address BitAssets core problem of liquidity.

I will personally use BitAssets in fairly large quantities, even at the current stage of development. I also anticipate others will do the same.
I think we're going to see a sharp uptick in BitAsset use from existing BTS shareholders & others once these changes are introduced. 

The increased BitAsset CAP's and adoption trend should quickly translate into a much higher valuation for BTS. So I've been buying at these prices even though it could still dip further. 

1212
General Discussion / Re: Gavin's thoughts on mining
« on: April 19, 2015, 03:00:18 pm »
The problem is those people treat Satoshi as a god when they should be adjusting his poorly conceived inflation schedule with a hardfork.

Bitcoiners are stupid but they're not that stupid.

I don't follow?  I don't think it is very easy to hardfork bitcoin, but do you think adjusting the inflation downwards would be that damaging?  It would put off the miners but the reduction in downward price pressure could easily make up for it.  Smooth out the blockreward differences...

I agree that mathematically Bitcoin would benefit from adjusting the inflation downwards but even though their flawed supply structure may prove to be their long-term downfall, changing their 21 million Bitcoin supply rules, would mean a transition from being viewed as a digital gold type money (pre-determined supply)  to one whose supply is controlled/altered by people and potentially a small group of people at that.

People assign value correctly to and adopt forms of money that require the least trust in people, (Because people can't be trusted & are 'short-termist' ) such as gold, silver and more recently Bitcoin. Altering the pre-determined supply rules would require you to trust people more going forward resulting in substantial value loss.

I think most Bitcoiners and crypto-currency holders understand some version of this general idea/concept and it's unlikely they would risk losing their digital gold status as Bitcoin's value is almost exclusively derived from the use of their tokens as money. (Unlike BTS whose shares now derive value from expectations surrounding the products and services based on it's blockchain like BitAssets.)

1213
General Discussion / Re: Gavin's thoughts on mining
« on: April 19, 2015, 01:19:25 pm »
The problem is those people treat Satoshi as a god when they should be adjusting his poorly conceived inflation schedule with a hardfork.

Bitcoiners are stupid but they're not that stupid.

1214
General Discussion / Re: BitShares fate under hyperinflation
« on: April 18, 2015, 05:12:47 pm »
OP you have it backwards.

If the USD has hyperinflation then BTS would go up in terms of dollars.

Yes. Until it doesn't, because of massive deflation, which in hyperinflation is more or less expected in extreme bouts - that should trigger the ~60% instant drop in value, and hence the thread.

The exact same thing happened for instance in the Weimar Republic.

I don't think hyperinflation of currencies is a problem for BitAssets or BitShares to handle.
In hyperinflation the BitCurrency becomes worth less and less, so the relative value of the BTS collateral already backing becomes larger making that BitCurrency more secure.

In the Weimar republic I don't think there was massive bouts of deflation (60%+ over a few hours) during the hyperinflation but I don't know..

A possible problem is gold being rapidly revalued upwards perhaps as a result of a dollar collapse for example. Even in that event an individual BitAsset may be under-collateralised but the BTS system wouldn't collapse. I think BTS would probably grow in value vs. the dollar faster in that scenario anyway. 

1215
General Discussion / Re: BitAssets 3.0 - For Community Review
« on: April 18, 2015, 01:34:19 pm »

* bitAsset holders can be guaranteed a return with only 1% loss in 24 hours, which is much better than up to 30 days! 


 +5% I think that change, changes everything. It's huge.

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