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Messages - btswildpig

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346
General Discussion / Re: Why Vision Matters Blog Post
« on: December 30, 2015, 03:02:13 am »
The DEX is "done" except for perhaps the MAKER proposal which isn't even necessary.  SVK and CASS are working on improving the User Interface of the DEX.  Michael is working on improving the API to be similar to poloniex. 

The key to bootstrapping any exchange is having UNIQUE assets to trade.  This is something that FBA and new business models will have.

I haven't forgotten the DEX, it is a critical component. I have just learned through experience that selling a DEX is a hard niche market.

Banking partners are telling all blockchain companies the same thing: "we don't want your chain, we want our own".   Anyone holding out for banking partners getting on board any existing public chain in a meaningful way needs a wakeup call.   

BitShares needs to provide VALUE to the average joe.  A DEX doesn't provide that value on its own.  A bond market doesn't provide that value on its own. 

Selling people "peace of mind" and an opportunity to "change the world" and "fight the empire" and "fight Obamacare" is a much easier sell in my own market research.

Please, someone tell me the market value of Poloniex.. how much is their exchange worth?  How much is BitStamp worth?  BitFinex?    The combined revenue of all crypto currency exchanges is less than $25 million per year.  If we assume these exchanges operate with a 50% profit margin then that means $12 million per year in profit.  Based upon a 5% dividend, this would put the combined value of all exchanges in the cryptocurrency space at  $240M dollars and my guess is that is very high.

So if BitShares grew to become the only exchange in the entire market it would be worth at most 24x its current valuation. 

Bitcoin is valued because of the COMMUNITY of freedom activists that are using it and promoting it.  It has no revenue based valuation.  A DEX doesn't inspire a community following like Bitcoin has.   

Lets gain some perspective before calling for the DEX to be "finished" as if that will magically make BTS grow in value 10x.

"Bitcoin is valued because of the COMMUNITY of freedom activists that are using it and promoting it. "


Bitcoin is valued simply because big speculative capital (including the ones owns big mining operations) have enough capital to hold it .
 freedom activists have zero money to lead bitcoin this far . They're insignificant . However , they speak things people likes to hear , so they become the main role in front of media .

Bitcoin's rise is not a result of promotion , usage . Bitcoin is a perfect speculative object for capitals to gain profit , the basic rules can not be changed , it doesn't controlled by single person , that's perfect for capital to speculative on it .
If you can't see that , no matter how many different community you try to attract , you will never copy the same success of Bitcoin .

347
General Discussion / Re: Why Vision Matters Blog Post
« on: December 30, 2015, 01:13:29 am »
Lets have a bigger vision with a focus on helping other people. A vision that the average Joe can benefit from and get behind. A blockchain is a means to an end, it isn’t an end in itself. While everyone else is busy creating advanced “smart contracts” and new “privacy solutions” and attempting to partner with banks that want nothing to do with them we can actually start helping people.
=======================

so does that mean no banking partners anymore ?

348
General Discussion / Re: Why Vision Matters Blog Post
« on: December 30, 2015, 01:03:41 am »
MAS is one more reason to leave bitshares.  I will leave if MAS is worked on before bond market and orediction markets.  It's highly theoretical and will take more funding and resources than you estimate.  Why?  cause it's a reoccurring theme here when bitshares tries to implement somethjng anew and untested.
Did BM ask you to fund it?
I am sure if you can fund the development for prediction markets CNX will hire more devs and get it done

you sure ?

I'm not sure , because as they said , development is not exact science , you can't predict time and cost to get it done .

349
+5%

@all the others: please stop blaming CNX for trying to be a competitive and profitable company. If they don't make their money they will disappear and the consequence of that will be that Dan has to work for Google or someone even worse!!

I think everyone in that team can work for google except BM . I don't think Google can tolerate him , or he can not tolerate google .


350
General Discussion / Re: Why FC library not a project ?
« on: December 29, 2015, 09:42:13 am »
It is very useful much like boost.
+5%

who is using it other than people that we know ?

351
General Discussion / Re: 2016 Vision Blog Post
« on: December 29, 2015, 04:33:06 am »
A business without philosophy is dead and pointless. Likewise philosophy without business goes nowhere.  The maze of life is too complex to make decision only on info.  It is values and philosophy the must fill the gaps and keep us focused.   

Nothing Bm said takes anything away from the dex.  It only adds something new.   The dex is nice and all, but there is no reason to use the dex. There is no reason to use bts except for the hope of adoption.

As a user why should I adopt bts TODAY?  Bm just gave me a reason to be involved today.  Speculation isn't a good reason on its own.  It created a huge sunshine soldier that left town after the easy gains were had. 

Mas is a great business that provides value today.  It gives us something unique.  I can sell that.  I can't sell a dex with no unique assets to trade to many.

Hope you can be rich since you can sell that , lots of referral fee there .
Or , not ..

352
General Discussion / Why FC library not a project ?
« on: December 29, 2015, 04:31:04 am »
How many developers uses the FC library ?

Why it seems there has been few effort to promote this tool ?

Is it good ? Is it bad ? Is it usable outside of this small circle ?


Is it one of the reasons that few developers have join the core development simply because they don't want to pay opportunity cost to learn a library that can only be used in a small project ?


353
General Discussion / Re: 2016 Vision Blog Post
« on: December 29, 2015, 03:07:54 am »
Here's the problem.  Most people, and i'm going to guess over 90%, are here to try to leverage the overall move of the public to blockchain tech.  They are trying to profit by beating the banks.  They are trying to leverage the technical  superiority of bitshares compared to bitcoin to achieve a higher beta return.

What you are talking about is head in the clouds philisophical type of stuff that these 90% are not interested in.  You might not think that is the case based on reading the forums, but these people are voting with their feet and leaving bitshares.

Bitshares was in the great position to be a decentralized exchange, with increased security, and 0% chance of being mf globaled.  The amount of traders that would have embraced this would have been huge... i personally know very influential traders that fear that the markets will be taken away within the next 10 years.  With bts that would have been impossible.  All we had to do was grow that business... but we killed our golden goose.  Unable to build and grow what could have been the cornerstone of your new free society.  It's a lack of focus, which has been bitshares calling card for over a year now.

I hate what has happened to bitshares.  It's some ideological play pen for large holders and founders at the expense of the smaller holders.  I'm going to continue to hold by bts because maybe I'm missing something bigger... but when I see core dev's selling all their personal holdings I fear I should do the same.

 +5%

Philosophy is great, but what people, including me, are interested is real business. So what's our business plan for 2016? DEX? If so, please focus on exchange features (like BSIP 4) first. Banking based on blockchain? Then PR to bankers and make agreement with real banks.

I like political people . Part of me still one .
I just wish they have raised money mainly from political people as well , instead of us . 
Because I normally don't pitch in financially for a political cause , I would rather pitch in with my thoughts .

354
General Discussion / Re: 2016 Vision Blog Post
« on: December 29, 2015, 02:52:00 am »
Proof of stake means holders value their stake . They would not do stupid decision to hurt their stake . Hence proof of stake is somehow "secured" .

But mixing with political agenda , we have observed so many times in history , that people would sacrifice their own blood for political pursuit , let alone financial interest  .

Unless the system is somehow secured by "proof of believes" , I smell danger .

The vote thing that turned into the merger maybe a perfect example . I can't help to wonder "a transparent vote" is so addictive to a guy with so much political pursuit that he has to make it his priority .


355
Oh....India speaks English big time ......

That's why India developers are popular in western software firms.

356
General Discussion / Re: Poll on Bitshares referral program
« on: December 26, 2015, 03:28:34 pm »
I want to know how many people did Stan and BM referred  ?  :P

357
If switching between chains is that easy , then the chain is not really a public chain , but a private chain mirrored on public chain . So no decentralization

Not true.  You would just be doing then what you think you need to do now: 
Making a centralized decision to launch a new decentralized chain.

have you talk to big banks about using the BitShares chain ? anyone interested at that ?  or they insist on private chain ?

358
 :P :P :P
eg.  Is there a place where Winter comes after 6 or 7 months or even longer from now  ?

359
... I don't think bts would go to zero if they quit working on the project.  It's just code, its mit licensed, and any programmer could come in and start working on it.

It certainly could, though. Interesting this is being brought up today.
Just this morning I was skyped by a whale friend of mine in China who asked me...
 

[1:48:56 AM] : Do you know how to fork BTS ?
[1:48:56 AM] : we want to fork BTS
[1:48:56 AM] : :)
[1:48:56 AM] : For stock market use
[1:48:56 AM] : In China
[1:49:06 AM] : may need some help

 
If CNX doesn't keep their nose to the grindstone, the next fork might just hurt a bit more..
I think you should push him to use the current bts platform and develop on our chain instead of forking it.
What will you advise him to do?

I know the whale, even met him last week. :)
"forking BTS" is a little hotly discussed  these days in China.
most people agree that the BTS2.0 development is amazing, but the operation is not in good status.
seldom believe to run business in BTS is a good choice, people would rather adopt the technology developed by CNX.
this is the case...

Devs, especially @bytemaster and @Stan should take this seriously IMHO.
How can we improve or fix the bad management? If we fix this problem, will they build their businesses on current BTS ecosystem?

Even Muse(no developer,easy function) is on a different chain  . Why would you expect serious businesses build their app on BTS chain instead of their own ? Serious business does not like to be choked by some developer . If they want the tech , at best is to hire BM like Muse  .

Actually, that logic is like jumping to your weaker backup plan immediately rather than take advantage of the combined network effect of multiple businesses on a single network.  This means you have to negotiate all your support infrastructure and on/off ramps all over again.

Look at how easy it is to switch to a separate chain later, if it turns out one of your hypothetical worried does materialize:.  MUSE started out as an asset on BitShares and then switched to its own chain when they decided they needed to for sound business reasons.  Even BitShares 1.0 easily switched to 2.0 when the time came.    Chains are not a long term commitment and it will become common place for them to move to the best new technology from time to time.

So, you always have a fork as an easy backup plan if the main chain doesn't work out for you for any reason.    But prematurely throwing out the other advantages of a ready built supporting community because you have theoretical worries is not something to be considered lightly.    You don't just miss out on the network effect we have now, you miss out on what everybody adds to it over time.

The network effect doesn't come with the code.

Unless you want to take centralized control of a chain to ensure that you have "better management", what would you do differently now that BitShares is managed by its owners?    I guess a whale could keep enough shares for herself to ensure that she always retains voting control.   :)

If switching between chains is that easy , then the chain is not really a public chain , but a private chain mirrored on public chain . So no decentralization

360
... I don't think bts would go to zero if they quit working on the project.  It's just code, its mit licensed, and any programmer could come in and start working on it.

It certainly could, though. Interesting this is being brought up today.
Just this morning I was skyped by a whale friend of mine in China who asked me...
 

[1:48:56 AM] : Do you know how to fork BTS ?
[1:48:56 AM] : we want to fork BTS
[1:48:56 AM] : :)
[1:48:56 AM] : For stock market use
[1:48:56 AM] : In China
[1:49:06 AM] : may need some help

 
If CNX doesn't keep their nose to the grindstone, the next fork might just hurt a bit more..
I think you should push him to use the current bts platform and develop on our chain instead of forking it.
What will you advise him to do?

I know the whale, even met him last week. :)
"forking BTS" is a little hotly discussed  these days in China.
most people agree that the BTS2.0 development is amazing, but the operation is not in good status.
seldom believe to run business in BTS is a good choice, people would rather adopt the technology developed by CNX.
this is the case...

Devs, especially @bytemaster and @Stan should take this seriously IMHO.
How can we improve or fix the bad management? If we fix this problem, will they build their businesses on current BTS ecosystem?

Even Muse(no developer,easy function) is on a different chain  . Why would you expect serious businesses build their app on BTS chain instead of their own ? Serious business does not like to be choked by some developer . If they want the tech , at best is to hire BM like Muse  .

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