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Messages - oldman

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211
General Discussion / Re: Longtime Investor - I am out
« on: October 31, 2014, 08:53:29 pm »
I continue to be entertained by folks divesting after holding for a few months.

Revolutionary tech takes years to realize value - Bitcoin is six years old and is just now enjoying some public acknowledgement.

Bitshares may enjoy an accelerated adoption cycle by piggybacking on the efforts of Bitcoin, but we're still years from any rational profit-taking/divesting.

My advice to the community:

1. Don't invest more that you can afford to lose.

2. Hold for two years.

3. Have a divesting strategy and stick to it.

212
General Discussion / Re: Please don't rebrand BTSX to just BitShares
« on: October 31, 2014, 08:20:25 pm »
Quote from: bytemaster on October 31, 2014, 05:50:46 pm
BitShares - the worlds first decentralized autonomous cooperative governed entirely by the stakeholders to facilitate an efficient and profitable businesses. 

BitShares X has too many syllables and does not roll off the tong.   It is confusing to everyone I tell about it.

BitShares is simple, unified, and captures what it is without extra overhead or the need to explain more.  It is easy to say, spell, and use.  It parallels Bitcoin nicely. 

X sounds eXtreme or "over hyped" or "advanced" or some other feeling that people don't get or like.

This, exactly this. The 'X' has to go.

BTS is far, far superior to BTSX.

213
General Discussion / Re: I hope new bts will rise 200% after 11.05
« on: October 31, 2014, 04:10:51 pm »
Quote from: Ander on October 30, 2014, 10:28:56 pm
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).

And this is why BitShares will win.

I3 needs to get the market cap to the point a delegate can take $150k USD/year.

This will be the tipping point.

As for the recent drop in market cap... a savvy AGS/PTS investor with substantial BTSX holdings is using the recent course correction (merger etc.) to tank share price.

The extremely low liquidity is easy money for larger market participants.

This is nothing unusual and comes with the territory - use it as an opportunity to accumulate.

BTS is going to be worth billions. Buy, hold, be entertained.

214
General Discussion / Re: What does a BitUSD early adopter look like?
« on: October 31, 2014, 03:58:27 pm »
We might want to take a hard look at Germany and other Eurozone demographics.

Lots of unemployed, tech-savvy 15-35 year olds.

Some German bank is now pushing negative interest rates on balances.

Could not be a more opportune time to reach out with a mobile wallet and yield-bearing bitAssets.

215
General Discussion / Re: The Case for Delegates as Multi-Person Cooperatives
« on: October 31, 2014, 03:55:44 pm »
There is vast wealth to be made and lost in BitShares.

The grace period of benign actors will soon end and human nature will take over - greed, power, corruption.

It will be fascinating to see how a technology designed from the ground up to resist these forces actually performs.

Storm's coming, hope BM will get the ship to harbour before it hits.

216
General Discussion / Re: Top developers should temporarily be allowed more than one delegate
« on: October 31, 2014, 03:45:36 pm »
There is more than enough dev talent at I3 to get BitShares off the ground and no need to hire additional dev talent right now.

Bringing in outside devs right now would be a disaster - 'superstars' are by nature my-way-or-the-highway.

The last thing this tech needs is a philosophical split in the dev team.

I3 needs three to six months to finish the basic tech.

Once a client, trading platform, basic on/off ramps and initial marketing are in play I3 can be disbanded and the community can start hiring new talent.

Lets not put the cart before the horse.

217
General Discussion / Re: BitShares to become Decentralized Autonomous Community
« on: October 30, 2014, 02:44:55 am »
Quote from: bytemaster on October 29, 2014, 11:10:25 pm
BitShares to become Decentralized Autonomous Community
To this end the funds held by I3 for development will be divided among the core developers who will work together as independent parties to grow the community.  Details of this plan are still under review, but at the end of the day the result will be that no one developer will have "king making authority" for delegates.    People have stated that I have "too much power", but I do not wish to rely of fiat to get things done, but instead on my ability to persuade the community.   I also wish for the development of BTS to continue regardless of what the SEC or government attempts to accuse I3 of.   BTS is bigger than any one of us and has the potential to unite everyone under a fully voluntary society. 

I would ask that this happen only after a MVP BitShares product is in place - ie. stable client, basic feature set, major bugs ironed out.

It would be terrible if BM identified another opportunity like the merger and was not be able to implement because the 'community' does not want to inconvenience share price.

BitShares is not ready for Dad to take the training wheels off just yet. I'd say give it at least six months and then disband I3 and divvy the remaining funds.

Quote from: MeTHoDx on October 30, 2014, 01:58:25 am
Generally I like what you're saying here BUT I find using a company metaphor the best way to describe what BitShares actually is. What is a company? It's a community. It makes more sense to describe BitShares as an "unmanned company". People actually get excited when I describe it like that. This change might be important for legal reasons, but in my opinion will only further lead to confusion. People are having a REALLY hard time wrapping their head around what this is...

EDIT: I think the term "open source company" sums up what we are quite nicely. BitShares is literally an open source project + monetary incentive.

I agree with MeTHoDx on this one.

The term 'DAC' is already out in the wild and folks that invest in BitShares expect to be investing in a company.

Companies produce profit, communities produce people.

I like BM's philosophy and I think BitShares + Meshnet might actually have a shot at changing the world.

But first things first - this community needs to build a profitable, self-sustaining DAC.

Then we can go change the world.

218
General Discussion / Re: Stan and Dan Great Leaders
« on: October 29, 2014, 04:16:31 pm »
Quote from: xeroc on October 24, 2014, 08:40:42 am
Quote from: pc on October 24, 2014, 07:39:17 am
Quote from: BitshatKing on October 24, 2014, 04:31:40 am
So some people say Stan and Dan make bitshares price go down.
It's the people that are SELLING btsx ... Dan, Stan, me, and alot others are BUYING!

just an inside tip .. not an investment advice :)

I'm accumulating too, hard to stop.

219
General Discussion / Re: How many bitshares do you own?
« on: October 29, 2014, 04:07:37 pm »
Quote from: kuvira on October 28, 2014, 11:14:26 pm
How many do you own, what do you feel the potential marketcap or value is in a year or two?

There is only one answer to this question: not enough.

220
General Discussion / Re: Advice wanted: I'm considering running a marketing delegate.
« on: October 29, 2014, 03:59:50 pm »
I will vote MeTHoDx in as a marketing delegate with 100% pay rate.

I would suggest a public discourse with Brian to ensure your marketing efforts do not conflict with I3's strategy (whatever that may be).

Voting in multiple delegates to increase funding is interesting...

If you produce good results with the budget of one delegate I would support doubling your budget and voting you in for a second delegate. Then perhaps a third...

I find the ability to hire folks and determine their budgets fascinating!

Good work - you're hired!

Poor work - you're fired!

Shit is gettin' real.

221
General Discussion / Re: Do you plan to sell some BTS in the next bubble?
« on: October 27, 2014, 10:14:19 pm »
Hold to $1 and sell 10% of stake to recover capital and take profits.

Thereafter sell 5% of stake at each doubling.

Repeat until 10% of original stake remains.

Hold for future generations.

Disclosure: I'm holding to $10 and then divesting per above. But I'm an optimist...

222
KeyID / Re: KeyID: Should it stay alive? (Poll)
« on: October 27, 2014, 10:00:37 pm »
Quote from: toast on October 27, 2014, 04:16:24 pm
My most recent thinking has been that I actually want to pull KeyID branding and functionality into BTS and that keeping it alive is a bad idea. Keeping the existing network as "the DNS dac" won't work either, KeyID is hard-coded everywhere in a way that can't be changed easily.

I think the best thing is to keep KeyID as an app within BTS and then make a separate DAC just for actual real DNS later.

I'll keep you updated with my thoughts.

 +5%

223
General Discussion / Re: Welcome back to $50MM Market Cap
« on: October 23, 2014, 03:49:12 pm »
Quote from: toast on October 23, 2014, 03:30:07 pm
Agreeing not to sell doesn't matter - when you hit the price point and everyone wants to cash out there needs to be the demand to catch it anyway.

Correct - folks seem more concerned with Step 1 (share price XX) than Step 2 (realizing gains).

Nonetheless I'd love to see the sell side dry up and watch the FOMO rocket take off.

224
General Discussion / Re: Now is the perfect time to implement sweeping transparency measures.
« on: October 23, 2014, 03:43:32 pm »
Great concept and assuredly the way forward - except for the Country Club Cronyism.

Candidly that part of your proposal goes against everything a DAC represents.

With regard to disbanding I3 I think it would be more realistic to give I3 one or two years to finish development before handing the reigns to a consensus mechanism.

Folk seem to have extremely unrealistic expectations (measured in days or weeks) for rolling out a tech like Bitshares.

BM and Co. are maximizing shareholder value and serving tough love when needed - like the merger.

Frankly, if this mechanism was in place the merger would not have happened... nor any of the other changes BM has proposed and implemented, all of which have made Bitshares what it is today.

There's a reason organizations have hierarchies and its not a conspiracy.

Group hugs are nice if you want to feel warm and fuzzy but they are absolutely the worst mechanism possible for getting things done.

Right now Bitshares needs a strong and visionary leader to get it off the ground. That leader is BM, period.

Let's give I3 some room to do their job and get Bitshares through the atmosphere.

225
General Discussion / Re: Welcome back to $50MM Market Cap
« on: October 23, 2014, 03:29:03 pm »
Quote from: mf-tzo on October 23, 2014, 02:58:26 pm
Will this post is  +5% +5% and very funny... Unfortunately I see $40 mil again and I just don't know why... And once again I bought expensive and just have no more funds any more...
Can we please coordinate somehow and agree that no one is selling below $100mil market cap, then coordinate no one to sell below $500 mil market cap and so on..

Prisoner's dilemma - I've advocated a $1/BTS pledge but it is really just wishful thinking.

Most folks are too blinded by short-term greed to see the bigger picture.

For what it's worth I'm holding to $10/BTS.

Interstellar or down with ship.

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