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Messages - sschechter

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196
hi AB, i can understand where you're coming, but i dont think the vision has changed. the timeline for implementing the vision has merely become more realistic

The way i see it, the old vision fragmented development of several products and pigeonholed the bitshares toolkit developers into working on their own projects in relative isolation. from what i can tell, the bitshares toolkit still requires some major development time, and realistically there are only a handful of developers alive that currently have the know how to do so.

 the old plan essentially dictated that key devs like Toast, HackFisher etc would have to stop developing the toolkit (which is critical to DAC industry growth) and work on their own projects. between coding, taking on the role of project manager, providing support for delegates and users, etc i cant imagine there would be any time left for them to help develop the toolkit. software development is rarely a one man job and for good reason imho

developing separate, competing DACs is a great idea (and inevitable if bitshares succeeds) but the infrastructure needs to be sufficient first

 +5% +5%

197
Rune found BitShares through the AMA I did in /r/BitcoinMarkets. I don't think his intentions are bad. He strikes me as being genuinely passionate about this technology and wants to see it reach its potential. Until I see otherwise, I support him.

 +5% While I didn't agree with his inflation giveaway idea, he makes good contributions to the community.

198
General Discussion / Re: BM kill the pts and ags
« on: October 30, 2014, 07:12:29 pm »
3i should do DPOS,not others
not AlphaBar.
not me.

The whole point of the consolidation/merger is that bytemaster and 3i can't do everything, and can't answer to everyone.  If they fixed PTS and made it what we want, then they'd be neglecting BTSX, and a different group of shareholders would get loud.  PTS and BTSX in some regards, are in direct competition with each other.  The consolidation is an effort made so that all incentives can be aligned in the future.  Its unfortunate that this decision couldn't please anybody, but look at it this way - the people who got burned today would eventually get neglected in the future.  The same group would be demanding for bytemasters time and attention, and the only way to give that would be to neglect a different project.  We want to compete with the world, not the existing community, because its still not big enough.

199
Banner idea for crypto sites,

What is BitShares? Separate fact from FUD (because you know how the nerds love using the word FUD):
What is BitUSD? Separate fact from FUD

OR

This ad sponsored by the BitShares blockchain
Can your blockchain purchase ad space?

201
Numbers 1 - 3 could be done by a dev-ops engineer, without sucking up the time of our core blockchain developers.  I would like to see this person hired with AGS funds, it is long overdue.

202
Maybe we should remind ourselves that we are not a classical business ... and also need not necessarily take the same strategies .. as classical businesses ..

Like engineering controversy to garner publicity? :D

MeTHoDx, you read this book? http://www.amazon.com/Trust-Me-Lying-Confessions-Manipulator/dp/1591846285/ref=sr_1_1?ie=UTF8&qid=1414539073&sr=8-1&keywords=trust+me+im+lying

Its my next BitShares book club recommendation.

203
It is possible to set up a bitAsset to be guaranteed 5% from the shorts

That was the original design - did the Fortune writer take the time to understand this?  No, we were called a bucket shop instead.  Our competitors will use this against us to pounce on our throats.  They will throw out the same kinds of words that we used to describe NuBits.

I agree that share dilution to re-invest in development in new infrastructure is a good idea.  Dilution to raise money to provide 'parking' incentives is too direct of a path to bad publicity.

204
http://fortune.com/2014/01/28/cash-menagerie-inside-the-bitcoin-confab/

"Still, avarice wasn’t totally suppressed. A handful of boiler-room types were scattered around the show floor, sweating through cheap suits as they touted “ridiculously profitable” cloud-based mining services or automated bitcoin trading robots. Enthusiasm shaded into hyperbole, claims of guaranteed returns were thrown around with indictable abandon, and buttonholed interlocutors were encouraged to “reserve your spot now.” One new platform would let users “earn 5% on anything” because “we’re cutting out the middleman” — when in fact, what was being promoted was a kind of digital bucket shop, a casino disguised as a stock exchange."

Can you guess who they're talking about?  +5%

205
How would you explain your campaign to the media?

206
Quote
Do we want people to understand how our system works or do we just want to throw returns in peoples faces?

You realise we are talking about marketing a product, right? No, we do not require people to understand how our company works on the back-end, yes we want to throw clearly digestible numbers in their faces when telling them about our products.

People don't need to know how BitShares works.  But they ABSOLUTELY need to know how it makes money if they are being asked to risk their own.  If you are unable to or unwilling to explain how you are able to offer them returns, the first word out of their mouths will likely be Ponzi. When I hear 5% interest guaranteed, I think to myself "whats the catch?"

You: "Hey want to try our financial product?  You'll get a 5% return on your investment"
Me: "5%, thats pretty good.  How does it work?"
You: "That's not that important."
Me: "Go fuck yourself"

208
In your ad campaign, would you be willing to clearly disclose where the  +5% is coming from?

209
And what if the promotional period ends without increasing the volume enough to get us to 5% interest? What happens when rates drop to 2-3%?  Print more shares? Apologize to those who thought they were always getting 5%?  Why can't we just advertise *1.5% variable APR, with an asterisk that explains how interest is generated, and expected returns based on volume?  Do we want people to understand how our system works or do we just want to throw returns in peoples faces? Is offering 5% interest on an investment that people don't understand enticing enough to get people to invest in something they don't understand? If you promised me 5% interest, I would want to know what your selling and how you earn a cut. If I found out a company was cannibalizing their share price in the hopes that they can keep me as a user, I may stick around long enough for my free lunch, but not much longer.  Sorry, this seems like a desperate 4th quarter hail mary pass.  If it doesn't work, the system may not survive the damage to its credibility.

210
Is there any women on this board?

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